Webtel.mobi publishes a detailed article on why the US Dollar is
not under threat as Global Reserve Currency, nor a consideration
for Global Financial Reform
Global Telephony Provider Webtel.mobi has
published a detailed article describing the real issue and remedy
for achievement of Global Financial Reform, required to end the
regular “Boom and Bust” cycles.
Additionally, a public version of the article
follows below
Speculation as to the potential ending of the US
Dollar’s reign as Global Reserve Currency – or the necessity of
that – are both misplaced, according to the Global
Telecommunications Company Webtel.mobi. This is, it says, because
it is not a Global Currency (any one of them) that creates any
global imbalances, weighted advantages or potential reform
solutions. It is rather the Global System over which all currencies
are transacted that creates all global imbalances, weighted
advantages or potential reform solutions.
The current Global System is relatively young.
It came into being after the end of World War Two, and was provided
to the world (or imposed on the world – depending on viewpoint) by
the primary victorious power of that conflict. As such, it is not
merely the geographic unit denominations (i.e. currencies) within
the Global System that create imbalances or weighted
advantages.
These outcomes are rather (unilaterally)
determined by the persons and entities in control of the Global
System – the owners / controllers of which unilaterally determine
the level of favor or disfavor / advantages or disadvantages of any
particular geographic units of exchange (currencies), or other
System Rules, that are (also unilaterally) applied or altered.
Through these decisions, so-called Reserve Currencies, Illiquid
Currencies, Exchange Rates, Currency Flows, Currency Exchange and
all other aspects of the Global Economic and Financial System are
determined.
Since the provision / imposition of this System
on the world after WW2, the System has been unilaterally set to
permanently favor the owners and their allies / satellites, and
disfavor all others. This situation is – and will be – impossible
to alter without reform of the Global Financial System.
The Global Financial System functions like a
railway network, with:
- A Network Owner (i.e. large
financial entities),
- A System of Railway Tracks on which
all Carriages (i.e. National Systems and Currencies) must travel,
with Centralized Signals Control and recording (i.e. SWIFT – and
Fedwire, IBAN, CIPS, etc, all of which run off SWIFT – and over
which all funds / transactions must flow, and which inform all
connected parties of / record all transactions),
- Licensors for the multiple
subdivided Local Railway Line Network Operators, with Centralized
Ticket Volume, Value/Pricing and Issuing Planning and Terms
oversight (i.e. the Management Team representing the Network
Owners, that authorize and regulate National / Regional Currencies’
issue, volume and value for the Global Financial System – being the
Basel Committee and Basel Consultative Group, as instructed by
their GHOS Committee),
- Subdivided Local Railway Line
Network Operators that carry out Ticket Sales and Distribution for
their section of subdivided Network (i.e. Country / Currency), and
provide the Railway Carriages on their Subdivided section of
Railway Network (i.e. the Commercial Banks in countries that create
“retail money” by issuing credit – which most people regard as
“money” – and by providing retail banking services, primarily in
order to provide / distribute this credit),
- Centrally-organized Network
Logistics, Maintenance and Support Services (i.e. the CLS Group,
TCH, CME, LCH, CHIPS, and other similar entities, that provide
overall RTGS, FX Conversion, Liquidity, Processing, Clearing and
other support services for the entire network),
- Subdivided Local Network Logistics,
Maintenance and Support Services (i.e. de-facto white-label
intermediary entities – from first to tenth intermediary level),
that provide local access to the local and/or consumer versions of
the Centrally-organized Network Logistics, Maintenance and Support
Services (i.e. various national FX Conversion entities, Payment
Services entities, Payment Card entities, and related services –
all of which are essentially white-label intermediaries for the
primary entities, as are over 95% of all entities in the Financial
Sector worldwide).
Despite having many sub-components, this system
is a totally closed system, of which every aspect is controlled by
its Owners. Therefore, although the Subdivided Local Railway
Network Operators may appear to have A or B advantages over another
(and although one’s ticket prices – or currency value / power – may
appear to be, or be, better than another), this is all according to
the structuring of the Owners of the entire Railway Network System.
Moreover, this can – as can any other aspect of the System – be
altered at the ultimate Owners’ will. This is because regardless of
any currency’s or currencies’ rise or fall – or any other variation
between Local Networks (i.e. Countries or Currencies), the
end-Owners and the large Primary Participant Network Service
Providers will continue to make exactly the same revenue and
profit, because they clear / swap all currencies, commodities and
instruments, and therefore accrue the same margins, at all times,
regardless of the economic / currency / financial stages, strengths
or weaknesses of any economic cycle, in any country or
countries.
In this entire system, the various Currencies
are equivalent only to the different ticket types that the
Subdivided Local Railway Network Operators are allowed (by the
Network’s Owners) to issue. Furthermore, the currencies’ (tickets’)
varying and fluctuating values / strengths / advantages /
disadvantages are entirely dependent on the wishes of the overall
Network’s Owners, as thereafter implemented by their Management
Team (overseen by GHOS), with other factors playing only a
relatively minor role.
As such, substituting one currency (ticket) for
another will have absolutely no reform or balancing effect on the
overall existing System at all, and it never could. It would be
like deciding to ride on one Local Network’s train carriage or buy
one Local Network’s train ticket instead of another. It is
absolutely pointless and futile to do so in respect of Network
Reform considerations. Rather, if one wants to achieve reform, one
needs to first reform the entire System – not just a (small and
irrelevant) component thereof, such as one currency.
However, simply attempting to reform the System
by creating another System according to the same structures,
processes and components also has no chance of success. This is
because just as an Existing Railway Network already has all of its
railway tracks and other infrastructure in place – with literally
no space for a replica to be built next to it – to replicate it
would require building a replica Railway Network with Stations on a
reinforced elevated steel and concrete platform above it for its
entire length. These immense construction requirements and costs
would be replicated in any attempt to reconstruct any aspects of
the existing Global Financial System in its current format. Not
only would the costs of this be prohibitive (or need to be passed
onto users / consumers), this process would potentially also cause
service disruptions and consequent chaos for the existing users of
the System.
Better, for example, would be just to construct
a Centrally Controlled high-speed solar-powered monorail, raised on
a mono-platform using modern, more robust and exponentially more
cost-effective materials, along a new Network Route. Not only would
this be cost-possible, it would be able to travel to not just all
the Cities that the Existing Network covered, and also all of the
new Towns and Villages that the Old Network’s original old route
now missed (and provide many more, and more useful, on-board
services). AI-Assisted and streamlined Centralized Management of
all aspects would render the entire New Network far more efficient,
more rapid, and safer than the Old one. This is because Centralized
AI-curated Control of all processes would enable removal of the 95%
of intermediaries that are not essential for operations or users /
consumers. This would therefore lower System running costs and
passenger costs exponentially.
By doing this, one uses a different methodology,
but achieves the same (or a better) end-result that benefits all
parties. This is similar in some respects to what Uber did when
revolutionizing road transport – such as lowering costs, expanding
accessibility and service-coverage, improving speed of service and
environmentally friendly vehicles and democratizing an essential
service. It would also enable the addition of multiple additional
layers of robust security.
There is indeed be no point in replicating all
of or part of the Old System by simply applying the same archaic
methodologies, structures or processes. That is because to do so
would result merely in replicating a variation of the Old System’s
same archaic, outdated and monopolistic system, and these are
hopelessly outdated because they run off a combination of (the
equivalent of) 19th and 20th Century Railway Tracks and Signal
Systems. Exact replication – in the same format – of the Old System
would require applying these outdated methodologies, structures and
processes, because the other components of the System (i.e. the
Supporting Entities) – in their entirety – are also structured to
function off and from these archaic 19th and 20th Century
infrastructural pillars, in order to be able to fit in and function
with the (current) Old System.
To date, however, efforts to reform the Old
System have focused on forms of replication based on its existing
structures and processes. However, once confronted with the reality
of the exponential cost and logistics issues required to merely
replicate forms of something that already exists, the realization
sets in that these are insurmountable obstacles, and stasis and
paralysis with regard to reform result, and remain. As a result,
the only “new” or “innovative” parts of the Old System that can be,
and are, are periodically rolled out, represent merely superficial
and/or cosmetic “innovations”. These superficial and cosmetic
“innovations”, in the main, comprise the equivalent of merely
putting additional new-looking railroad carriages onto old outdated
tracks, or modernizing the interior of old carriages so that one
can connect to Wi-Fi while travelling. Although these have
superficial cosmetic effects, they cannot, and do not, modernize or
improve the Old System (and its corresponding severe limitations,
very high costs, very slow speeds and significant security risks;
or risks of abuse).
Consequently, if one wishes to attempt to bring
about any sort of balancing of the current imbalanced Global
Financial System – be this in respect of the inevitable, regular
“Boom to Bust” economic cycles caused (and, indeed, required) by
the current System’s structure, or regular inevitable bouts of
Inflation, Deflation, Currency Depreciations, Currency Imbalances,
or anything else (with their associated consequences of periodic
large-scale unemployment, deindustrialization, loss of economic
prosperity, etc), the requirements are as follows:
- To Reform the entire Global
Financial System
- By creating a New System, utilizing
fit-for-purpose 21st century structures and processes,
- By an entity applying 21st Century
capacities and capabilities – preferably including AI-curated
processes integration,
- In a cost-effective manner, to
render it feasible, and to not pass on creation-costs to users /
consumers,
- That provides safer, more rapid and
exponentially low cost (or zero cost) services to users /
consumers,
- By removing the 95% of
Intermediaries that are non-essential for accessibility,
functionality and security,
- And implementing far more stringent
AI-curated Security and Controls to enhance user safety and
security,
- Initially functioning at the same
time as the Old System, to enable orderly voluntary transition to
the New System,
- Structured to not clash with the
Old System during transition, to avoid causing chaos for users /
consumers,
- And to first have tested it
globally in operations – for at least a decade – to ensure it is
safe and fit for purpose.
Webtel.mobi has done this, and achieved all of
the above aims and objectives. It has brought about the real,
practical and fully operational version – although much improved,
far more efficient and far more wide-reaching due to the capacities
of 21st Century AI-driven capabilities – of John Maynard Keynes’
“International Clearing Union”, together with its “Bancor” Global
Unit of Exchange; in an already-functioning and operational New
Global Economic System.
Utilizing a combination of classic business and
economic structuring and principles – coupled with what are known
as Radically Transformative AI (RTAI) components – the Webtel.mobi
System has achieved and surpassed all of the above benchmarks and
requirements, and many more. Moreover, none of this entails or
comprises any aspirations, or future-based hope or speculation. It
comprises, rather, already-existing, tested, due diligenced, proven
and fully-operational fact, worldwide, which is additionally
available in over 100 languages, to facilitate full global
accessibility and use.
The Webtel.mobi System has been tested in
discreet, but full, Global Operations for over a decade, during
which it has undergone 60+ rigorous external reviews and due
diligences – many of which were some years in duration – by
international firms of Attorneys and IT Experts, Leading
Macroeconomic Research Entities, Leading Macroeconomists,
Multidisciplinary Consulting firms and other Sector-Leading
entities worldwide. It has also been authoritatively commented on
by world-leading experts in these fields, after their comprehensive
reviews of the System in its entirety.
Its “Bancor”-equivalent Global Unit of Account
(the “TUV”), furthermore achieves and surpasses all requirements
insofar as establishing parity among currencies internationally and
creating a balancing effect among currencies and economies – and
without interfering with any States’ or Monetary Authorities’
authority, sovereignty or policy, or creating any potential
destabilization.
All of this was, however, only made possible by
building a New System first, and only thereafter structuring the
Global Unit of Account (i.e. what is being sought via replacement
of the US Dollar as the Global Reserve Currency) thereafter –not
vice versa. This is the required – and only possible –
sequence.
Webtel.mobi has furthermore done this from
within the Telecommunications Sector – not the Financial Services
Sector. All of Webtel.mobi’s products and services run off, and
from, a Global Telecommunications System basis.
This too is merely a continuation of natural
progression. ALL stages of innovation within the Global Financial
System have ALWAYS been primarily Communication /
Telecommunication-based. From hand-delivery financial couriers, to
stagecoach financial couriers, to horseback financial couriers, to
financial Telegraph Communications (for “Telegraphic Transfers”),
to SWIFT’s Financial Telecommunications (SWIFT is also a
Telecommunications Sector entity) – the only way that such Systems
can and do function is by means of effective Communications /
Telecommunications. Financial Services entities are, in comparison,
merely the worker-bees, that carry out the subordinate logistical
support services related to Financial Communications /
Telecommunications.
The results of Webtel.mobi’s 10+ years of
discreet – but fully operational – global testing and proving
furthermore led to it deciding to pre-emptively rebuild its entire
System’s Platform (from its Platform 1 to its enhanced Platform 2)
prior to its initiation of Unrestricted Global Operations. This was
done to incorporate non-essential but Best Practice /
Consumer-Friendly features, identified as possible-to-apply during
its global operations. This was done to ensure that the Webtel.mobi
System will not need additional upgrades or modifications in order
to remain the Global Leader in this field for at least the next 50
years.
It is due to this situation that Webtel.mobi has
already received requests for internships and/or guidance and
comment from Central Banks and other Top-Tier international
Economic Entities worldwide, with regard to their learning from
Webtel.mobi’s experience.
Currently, Webtel.mobi is – since completing the
upgrade of its enhanced Platform 2 – preparing for the
recommencement of unrestricted Global Operations at the beginning
of Q3 2024, while simultaneously holding discussions with some
States that have indicated their potential interest to acquire
the System.
As such, imminent reform of the Global Financial
System is at hand, but not via the replacement of only one FIAT
Currency with another, that is also merely a part of the same
overall System. Rather, it is via the global provision of a totally
new, 21st Century and fit-for-purpose full Global Financial System,
that not only replicates, in a lower-cost, more rapid and more
secure manner, all aspects and components of the current Global
Financial System, but, moreover, surpasses them.
Webtel.mobi urls
https://webtel.mobi/pc |
Tablet / Laptop / Desktop Platform |
https://webtel.mobi |
Smart Phones Platform |
https://webtel.mobi/wap |
Pre-Smart Mobile Phones Platform |
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Media Contact
Nick Lambert: wm@thoburns.com
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/e803a0d8-6329-4a24-885c-39d59a04b830https://www.globenewswire.com/NewsRoom/AttachmentNg/e1acec5a-31fe-4454-9b73-f7524f7afd50