https://twitter.com/0xNegEntrope/status/1616528244257292293
0xNEGEntrope
@0xNegEntrope
🚨 WEF partners with Chinese government to launch the Universal Digital Payments Network or "UDPN" 🤡Beijing-based Red Date Technologies together with US law firm DLA Piper and German IT provider GFT will launch "stablecoins" to rob, impoverish billions /1
0xNEGEntrope
@0xNegEntrope
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4h
Replying to
@0xNegEntrope
Stablecoins came into being to compensate the victims of a major theft at HK-based Bitfinex with IOUs but quickly grew into a giant cashgrab of unbacked, "semi-backed" or "fully backed" crypto-currencies or ERC20 tokens. /2
0xNEGEntrope
@0xNegEntrope
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4h
Naturally anything less than an fully backed and audited crypto stablecoin means literally free money for the issuer. The first stablecoin, Tether, claimed "60% backed by dollars". People sold their real money (ie fiat and Bitcoin) for these "stablecoin" dollar-like IOU notes, /3
0xNEGEntrope
@0xNegEntrope
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4h
so that they wouldn't have to declare capital gains taxes, and thus the stablecoin had a "use-case", tax evasion. Fast-forward dozens of crypto- and finance scandals and CBDC has become the buzzword of choice for institutions and companies to scam people out of their money. /4
0xNEGEntrope
@0xNegEntrope
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4h
Who better than Beijing to set the standards of 21st century digital financial crime? Red Date ticks every red flag box one could imagine, and claims to have invented "Blockchain-based Service Network" and "Distributed Ledger Technology".. 🤡 /5
finance.yahoo.com
Meet Red Date, the Little-Known Tech Firm Behind China’s Big Blockchain Vision
The de facto architect of China's ambitious national blockchain project reveals his game plan for making the technology cheap and easy for businesses.
0xNEGEntrope
@0xNegEntrope
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4h
So-called "BSN", "UDPN" acronyms cleverly chosen to sound similar to existing ubiquitous tech terms (BSN an ID# for published books & UDP is a network protocol standard) would be hosted by Chinese state companies China Mobile and China Unionpay. So now we know the WEF <3 🇨🇳.. /6
0xNEGEntrope
@0xNegEntrope
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4h
The CCP is hungry for cash; convincing people to exchange real money for monopoly money controlled by Beijing, "stablecoins" pretend to be real money but can be tracked, seized, debased/counterfeited at an insider's, or attacker's whim, further redistributing wealth from /7
0xNEGEntrope
@0xNegEntrope
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4h
the world's poor to the CCP. This latest scam, "UDPN", wants to "bridge" stablecoin IOU-tokens with govt-backed CBDCs which do not exist yet. Basically, they want to sell you non-existent money to buy bitcoin or part-backed stablecoins, which they'll keep or exchange for cash /8
0xNEGEntrope
@0xNegEntrope
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4h
to fill Chinese state coffers and try to make Beijing an integral part of finance, extending CCP's reach, control, censorship, intolerance and hatred further into people's everyday lives while wealth flows from your pocket straight into CCP kleptocrats' offshore accounts. /9
0xNEGEntrope
@0xNegEntrope
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4h
Do me a favor and if u ever feel enticed to buy a stablecoin or a CBDCs, ask yourself why you're exchanging money for a higher-risk, zero profit IOU that enriches the issuer with your money while giving you zero growth prospect to even beat inflation and offloading risk to you.🤡
0xNEGEntrope
@0xNegEntrope
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4h
China wants to run 🌎finance and replace SWIFT after Western sanctions crippled the Russian economy, and will use every opportunity lobbies like the WEF provides them to scam the world. Launching the scam at this event by a lobbying firm that says you'll own nothing is ironic. //