So far we have covered a few of the laws and policies government, in conjunction with the banking cabal have their sights set on our remaining wealth. We have also questioned the base architecture of the internet and shown how governments outside the U.S. have explored building an entirely new internet for the purpose of moving away from the U.S. centric internet. Anyone that doesn’t understand our entire digital footprint is captured and catalogued by government spy agencies is not living in the real world.
This brings us to the fact several governments have expressed their desire to eliminate cash from the system. Sweden has moved away from cash in a non-official capacity. India recently eliminated the two most used bank notes in the country. China’s economy flourishes on approximately 40% cash transactions and we have also demonstrated the world over approximately 1 out of 3 people never use cash at all for any reason.
What is behind a move to a cashless society? Who is interested in making this a reality? Who would benefit and what could possibly go wrong for the citizens?
Williem Buiter, CITI, wrote an article for the Financial Times – Alphaville describing how what a wonderful world it would be without all that nasty cash floating around. Mr. Buiter is one of those economist that, at his core, seems to hate that people have a desire to save their wealth instead of spending their way into prosperity.
As far back as 1999 Wiliem seemingly was already interested in stealing peoples wealth through “negative” interest rates. First, as Williem states, there is no such thing as negative interest rates. You and I would refer this as theft, but since Buiter is an “economist” of the highest degree he uses very flowery language.
An economy is in a liquidity trap when monetary policy cannot influence either real or nominal variables of interest. A necessary condition for this is that the short nominal interest rate is constrained by its lower bound, typically zero. The paper considers two small analytical models, one Old-Keynesian, the other New-Keynesian possessing equilibria where not only the short nominal interest rate, but nominal interest rates at all maturities can be stuck at their zero lower bound.
When the authorities remove the zero nominal interest rate floor by adopting an augmented monetary rule that systematically keeps the nominal interest rate on base money (including currency) at or below the nominal interest rate on non-monetary instruments, the lower bound equilibria are eliminated, thus allowing an economic system to avoid the trap or to escape from it. This rule will involve paying negative interest on currency, that is, imposing a ‘carry tax’ on currency, an idea first promoted by Gesell. The administration costs associated with a currency carry tax must be set against the benefits of potentially lower shoe-leather costs and lower menu costs which are made possible by the its introduction. There are also output-gap avoidance benefits from eliminating the zero lower bound trap. Source
In other-words – if a bank can show that zero is not actually the end of the line for interest rates, the sky is the limit as to how low interest rates can go. This, of course, is dependent on imposing a “carry tax” on currency. Meaning, that if you have funds in a checking, savings or other account in a bank the bank MUST charge your a percentage of your funds for the privilege of them holding your funds. Just kinda gives you the warm and fuzzies doesn’t it?
The fact that Buiter detailed how negative interest rates would work in 1999 proves beyond question we are given small pieces of the puzzle and it is our duty and our responsibility to piece the puzzle together. The banksters told us it was coming, they just didn’t say when.
While the paper Buiter is public, Quantitate Easing (QE), Negative Interest Rate Policy (NIRP) and Zero Interest Rate Policy (ZIRP) were never introduced, across the spectrum, to the public until 2010 and this was two full years after the collapse of the banking system in 2008 and all the attempts to “revive the economy” had completely failed. The banks were still in a state of collapse after two years of trying to convince the public everything was fine.
Now we have a better idea of why banks must move to a cashless society. If they do not, the way the system is currently functioning will never change. It will remain in a perpetual state of nothingness or said more plainly – economic depression – think Japan for the past 20+ years. The serfs will rise up if this continues much longer so having an escape plan is a must. That escape plan is a cashless society.
I want something in our system to change and allow the people to have free will. Is the blockchain or cryptocurrencies the answer? Will we the people be able to force the hand of the central banks, the cause of misery the world over? Will we the people be able to take back our sovereignty without firing a shot?
Let’s review some recent comments on the blockchain, cryptocurrencies and read what has been said.
The first step in stripping all the cash from the hands of the people, and thereby, rendering them slaves to the banks forever, make it much simpler and “convenient” to use a debit or credit card and enact laws that limit their use of cash. If this doesn’t work simply change the laws outlawing cash, but the goal is to first soft-sell “de-cashing“.
The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing”. It gives advice to governments who want to abolish cash against the will of their citizenry. Move slowly, start with harmless seeming measures, is part of that advice. Source
One of my favorite criminal banksters is Blythe Masters, the queen of derivatives. If ever there was a one single person responsible for the 2008 utter meltdown of the global economy it would be Masters. She is directly responsible for the development of credit default swaps – “financial weapons of mass destruction”. Blythe, after strip mining the global economy for the banksters accepted her next assignment – developing blockchain technology for the banking cabal.
In 2015 Masters was being heralded as the second-coming in banking.
Masters is the CEO of Digital Asset Holdings, a New York tech startup. She says her firm is designing software that will enable banks, investors, and other market players to use blockchain technology to change the way they trade loans, bonds, and other assets. If she’s right, she’ll be at the center of yet another whirlwind that will change the markets.
“You should be taking this technology as seriously as you should have been taking the development of the Internet in the early 1990s,” Masters, a lithe 46-year-old Englishwoman with auburn hair and the proper diction of the Home Counties, explains to the rapt audience. “It’s analogous to e-mail for money.”
That’s a bold statement, but Masters isn’t the only voice heralding the coming of the blockchain. The Bank of England, in a report earlier this year, calls it the “first attempt at an Internet of finance,” while the Federal Reserve Bank of St. Louis hails it as a “stroke of genius.” In a June white paper, the World Economic Forum says, “The blockchain protocol threatens to disintermediate almost every process in financial services.”
By contrast, Ripple Labs, another San Francisco company, runs a self-contained network for financial institutions that doesn’t rely on bitcoin at all. Masters plans to offer banks and other financial players both options: Digital Asset is creating an off-the-shelf private blockchain product and developing ways to connect its customers to the existing bitcoin system.
Whatever form it takes, the blockchain has the potential to change the very structure of the financial services industry, says Oliver Bussmann, the chief information officer at UBS. “If you brought up bitcoin with bankers 12 months ago, you’d lose their attention immediately,” Bussmann says. “Now, everyone sees this as a critical topic. I know of more than 100 firms that are trying to make the blockchain more scalable, more secure, to make the one that everybody will use. There’s a race on out there.”Source
What about something else associated with Blythe and her merry band of bankster scum – the DTCC. Not familiar with DTCC. Well, they own all the stock in your portfolio. Please, I beg you not to trust me and look it up yourself – once you arrive at the point that shows you that I am 100% correct allow the pain and sting to sink down into your bones. Then do something about it.
DTCC and Digital Asset – the tech firm that Masters leads – hope that their new tool will cut costs for traders, and reduce the risk that trades won’t complete correctly.
Isn’t that nice, Blythe Masters building blockchain technology to assist the banks and the DTCC to make everything run better. That is about as terrifying a thought as I can imagine. I feel confident the efficiencies in theft by the banks will increase 10-fold.
What about the next level up from Blythe and her criminality? The IMF is also interested in blockchain and cryptocurrencies.
In a speech today at a Financial Action Task Force (FATF) plenary meeting, Christine Lagarde talked broadly about how her organization is seeking to combat money laundering and terrorist financing, noting that blockchain innovations could be both a defense against these issues, as well as a tool that enables them. Source
Plenary, plenary, where have I heard that word before – oh yeah, in John Titus’ brilliant explanation All the Plenary’s Men.The picture gets darker and uglier by the minute.
What about the federal government of the U.S. what interest are the wankers in DC showing?
“The purpose of this RFQ is to obtain contractor support to develop a proof of concept for DLT (Distributed Ledger Technology), automated machine learning technology, and/or artificial intelligence based exchange implementation into GSA’s Multiple Award Schedule (MAS) FAStlane new offer proposal review processes.”
For those unaware DLT another way of saying blockchain.
What about the United Nations and being able to enslave people through stripping them of affordable energy to heat and cool their homes, run their vehicles on the remaining oil or use energy in a way that fits their need? Well, blockchain to the rescue. That’s right
“As countries, regions, cities and businesses work to rapidly implement the Paris Climate Change Agreement, they need to make use of all innovative and cutting-edge technologies available. Blockchain could contribute to greater stakeholder involvement, transparency and engagement and help bring trust and further innovative solutions in the fight against climate change, leading to enhanced climate actions.” Source
That’s a lot of criminals circling the very item that is suppose to free humanity from the clutches of these very people that have us currently enslaved!! Or did I miss something?
What the central banks? Well, they already have a cryptocurrency to circumvent all the other cryptocurrencies.
There is a new cryptocurrency on the scene called “Utility Settlement Coin” (USC). This new electronic currency was developed by four of the largest banks in the world, including UBS, Deutsche Bank, Santander, BNY Mellon and ICAP. Source
I want out of this current nightmare as much as anyone else. I have long questioned the “saving grace” of cryptocurrencies and said point blank this is a banksters dream come true. Now you have credible people singing the praises of this new technology.
What about recent comments made by one these respected voices stating the technology can be traced “step for step” with a “paper trail” leading back to the ultimate source of the recent Ethereum flash crash!! Listen for yourself, then get back to me about how this technology, now surrounded by the very criminals, who’s crimes we report every single day, like jackals surrounding it’s next victim.
At the end of the day each of us has to make decisions based on information and our individual circumstances. I am still stacking physical gold and silver. I will continue stacking physical.
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