NEW YORK and LONDON, March 28, 2024 (GLOBE NEWSWIRE) —
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
Media Contact
Nick Lambert: wm@thoburns.com
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/e803a0d8-6329-4a24-885c-39d59a04b830
https://www.globenewswire.com/NewsRoom/AttachmentNg/e1acec5a-31fe-4454-9b73-f7524f7afd50
