The BIS is a policy-making central bank to all the central banks of the world, and there is no doubt that it is planning to restructure the entire global financial system (Fintech) to enable the Sustainable Development economic system, aka Technocracy.
Fintech & Blockchain
Technocrats pushing for a cashless society are seriously conflicted as its flagship experiment in Sweden is coming unravelled. The people in Sweden have spoken, and cash stays.
Finally, the battle line is being drawn against cashless society Technocrats. Cities are enforcing cash as legal tender and banning stores from operating if they refuse to accept cash as payment.
Seoul has morphed into a first-tier Technocracy and intends to become a coveted ‘global city.’ Mayor Park says blockchain will “bring a fundamental change to society” and indeed it will, but citizens will have other thoughts about it.
The Islamic world is committed to leading the world in Fintech, the financing arm of Sustainable Development, because Fintech is Sharia-compliant. This is a back-door opportunity for Sharia to be systemically spread to the whole world.
Not much is written about the secretive BIS, but this article is an exception as it recognizes it as “a bastion of global technocracy.” TN would add that the World Bank and the International Monetary Fund complete the Technocratic troika.
Cashless society is a requirement for forcing everyone into a digital system, a goal for Fintech and Sustainable Development. Nobody has yet taken American retailers to court over the legality of refusing to accept cash, but according to the U.S. Treasury, each bill clearly states: “This note is legal tender for all debts, public and private.”
The author does not have Technocracy in view, but only in name. Technocracy will force the extinction of cash in order to build a replacement monetary system to finance Sustainable Development that will resemble Alice in Wonderland.
There is a people’s movement in Sweden to retain cash as a backup to tech failure, but others continue to squeeze it out. Young Technocrats think it’s cool to get chips inserted into their hands as a payment system.
The IMF is now openly writing about blockchain technology in creating a global crypto currency, built on the old concept of Special Drawing Rights (SDRs). The SDR is a basked of traditional currencies, but could provide a pivot to move to cryptocurrency.