We are truly living in historic times, as the world financial system is being transformed in real time here in 2023.
What is emerging are two competing forces to develop a new world currency.
The predominate world economic system is the one led by the Davos crowd, where the World Economic Forum (WEF) is the main institution that has controlled Western monetary policy, primarily in the U.S. and Europe, and also the rest of the world as they submitted to the Davos crowd, and their military alliance, NATO.
But the "rest of the world" is now joining forces to challenge the Davos Crowd, led by BRICS (Brazil, Russia, India, China, South Africa), which now has a total of 41 countries wanting to join together with the original 5 BRICS nations and replace the U.S. dollar, currently the world's dominate currency used in trade and finance, with a new, alleged gold-backed, world currency.
The Davos crowd, on the other hand, realizes that their banking system is in serious trouble, and they have been working on a plan to replace fiat currencies such as the U.S. dollar, with Central Bank Digital Currencies (CBDC).
The Bank for International Settlements based out of Switzerland, and the International Monetary Fund, a United Nations institution based out of Washington D.C., are the two predominant groups working quickly to develop a standard for CBDCs.