Globalist IMF Trying to Control Currency Decisions of the Marshall Islands
The IMF is trying to pressure and force the Marshall Islands to reverse its decision to design and use a cryptocurrency as a means of exchange in the country.
One of the reasons entrenched globalists financial entities like the IMF hate bitcoin and other cryptocurrencies is they represent a decline in influence and power for them.
The IMF uses the tired, and most times dishonest assertion that cryptocurrencies are used by terrorists and for money laundering, both of which are very questionable, and at most, very limited in practice.
In most cases paper money is the favorite way for terrorists and money launderers to engage in their activities, not cryptocurrencies.
This is an attempt by the IMF to assert economic control over the decisions of the small island nation, which has under 60,000 citizens.
In June 2018, the IMF’s deputy director warned that “Crypto assets may one day reduce demand for central bank money” and predicted that central banks may need to “forestall the competitive pressure crypto assets may exert on fiat currencies.”
An excerpt from a 58-page report released by the IMF said this:
The potential benefits from [digital currency] revenue gains appear considerably smaller than the potential costs arising from economic, reputational, AML/CFT, and governance risks. In the absence of adequate measures to mitigate them, the authorities should seriously reconsider the issuance of the digital currency as legal tender.
Every place crypto adoption breaks out, the existing banking powers will attack it as dangerous because they want to maintain control over the global banking and economic systems. Hopefully the Marshall Islands will stand up to the bullying and maintain their national sovereignty in the economic affairs of the country.