Category Cryptocurrency

Aug 20 2024

The Propaganda Behind Crypto


Posted Aug 20, 2024 By Martin Armstrong 

IMF Coin

Now all we hear is how banks are suddenly investing in things like BITCOIN. The propaganda is just stunning, for it has once again proven that Julius Caesar was right more than 2000 years ago, and nothing has ever changed.

Caesar People Believe

Things like BITCOIN are a religion, and that is the problem. It would be best never to marry any trade, for you will never look at the world objectively. The code for the BITCOIN programmer was known to have come from the NSA. In 1996, the US government released a white paper entitled, “How to make a mint: the cryptography of anonymous electronic cash.” Released by the National Security Agency Office of Information Security Research and Technology, this document basically explains how a government agency could create something like Bitcoin or another cryptocurrency.

The Federal Reserve is not going to issue a CDBC. All the big banks are creating their own, and then they will be regulated by the Fed. The banks must already report suspicious activity to the Feds. The banks will create the digital currency since they will report “suspicious” activity to the Fed and IRS. If the Fed created a CBDC, they need a search warrant to you into an account where the banks do not.

OPEN YOUR EYES

This is the same scheme they used with covid. Private companies like Facebook and YouTube can regulate free speech that the government cannot. They will then report all suspicious activity and your cash flow to the IRS. Wake up! Janet Yellen wanted to audit $600 transaction of Ebay. They are broken and they believe ending cash will result in 35%+ more in tax collections.

IMF TO REPLACE THE DOLLAR

The IMF has already quietly created its digital currency. They intend to use this war to not only default on debts, but the IMF will replace the dollar as the reserve currency in an attempt to bring the world back together and end the SWIFT vs BRICS.

Jan 30 2024

The Broker – Vladimir Putin and Recep Tayyip Erdoğan Schedule Meeting in Turkey Next Month


Posted originally on the CTH on January 29, 2024 | Sundance

While Turkey is a NATO ally, Recep Erdogan strategically refused to participate in the process to ostracize Russia.  True to Erdogan’s strategic political interests of being an influence broker, Turkey is the only NATO country that does not participate in the sanctions regime against Russia.  Next month Russian President Vladimir Putin will travel to Turkey for diplomatic discussions.

Turkey represents the literal gateway for most Western travel into and out of Russia.  However, first things first.  Despite the position of Turkey, notice how Hungary receives all the EU admonitions for not supporting the Ukraine side of the conflict, while NATO/EU never criticize Turkey who never even joined the EU/Western sanctions regime.  Inside that hypocritical contrast there is a revealing story.

Turkey established themselves as the neutral entity for future brokering negotiations between Russia and Ukraine.  Turkey has multiple geopolitical ties to Russia, including the purchase of Russian military equipment.  Apparently, despite the severity of the original sanction demand, Western interests -specifically the U.S. government- had no issue with Turkey proactively taking their ‘neutral’ position.  Always remember this.

Given all of the domestic headlines in the USA, there is a very good reason for Americans to keep paying attention to all things that happen in the orbit of Russia right now. Many people ponder the issue of a dollar-based central bank digital currency; however, only a few people have paid attention to the self-fulfilling prophecy of the CBDC that was created by the Russian sanctions regime.

Those who ask about the possibility/probability of a dollar-based CBDC, and the possibility of the timeframe therein, should always be referenced back to the Western financial sanctions against Russia.  It was that triggering point that put the USA and Western alliance on the irreversible path to the U.S CBDC, and the process is no longer a matter of “if” because the determining issue is no longer (primarily) in U.S. control.

The de-dollarization of half the trade globe, the general cleaving of finance that followed the Russian sanctions (see the efforts of BRICS+), has essentially created a system where major economic nations are trading between themselves in non-dollar-based exchanges.  India trades with Russia in Rupes to Rubles. China trades with Russia on old fashioned ledgers of value (due to proximity somewhat of a quasi-bartering system); Iran, Saudi Arabia, Egypt, South Africa and a host of non-Western nations are all in various stages of direct trade in national currency outside the dollar zone.

At the core of the issue behind the question of a U.S. or dollar-based Central Bank Digital Currency, you will find this global financial cleaving.   Intra-Western trade (USA, Canada, Australia, New Zealand, Japan and the EU) is still done in dollars, and trade done into the Western system is still done in dollars.  Ex. if China wants to trade into the USA, they must complete transactions in dollars. However, trade from grey zone to grey zone nation is no longer contingent upon dollars.

Very few people are talking about these new financial trade alternatives. Yet ultimately, this cleaving is likely what will result in a dollar-based U.S CBDC.   Remember, the need for alternative trade currencies was triggered in time by the immediacy of the sanctions against Russia.  I do not believe the Western financial alliance thought the Russian allies could assemble the alternative so quickly.

If the DoS and CIA truly believed the sanctions would cripple Russia, it’s then likely our institutions vastly underestimated the prior diplomatic talks that preceded those sanctions.  As a big picture consequence, no geopolitical issue is as connected to your kitchen table as anything that connects with Russia.  So, pay close attention to how Russia is engaged by the rest of the non-Western world (grey zone), and you will get a good idea about the speed and timing of a pending U.S. CBDC.

As soon as the grey zone trade is predicted to take place in non-dollar terms, the U.S CBDC will be fast-tracked.  The only way for President Donald Trump to stop the CBDC process would be to immediately end the Russia-Ukraine conflict and subsequently remove the sanctions. [And that might not even work.]  As long as there are financial trade blocks based on dollars and who we like, there will be an easy justification for the financial cleaving to continue.

RUSSIA – Russian President Vladimir Putin will visit Turkey next month in a rare foreign trip to a NATO nation, according to a Kremlin announcement on Monday.

Yuri Ushakov, a top adviser to Putin on foreign policy matters, told the Interfax news outlet that “a visit is being prepared.” As to the purpose of the visit, Ushakov added: “I can say that Ukrainian issues will probably be one of the main subjects of negotiations.”

Though a key NATO nation, Turkey and its president, Recep Tayyip Erdoğan, serve as a rare diplomatic bridge between the Kremlin and its Western rivals. Since Russia’s full-scale invasion of Ukraine on February 24, 2022, Ankara has supported Ukraine with military supplies while refusing to join Western sanctions on Moscow.

Turkey has positioned itself as a mediator between the two nations, hosting two rounds of peace talks in Antalya and Istanbul in 2022. Turkey was also key to the Black Sea Grain Initiative that temporarily facilitated the export of agricultural products from southern Ukrainian ports amid Russia’s naval blockade.

Following a phone call with Ukrainian President Volodymyr Zelensky at the beginning of this month, Erdoğan said Ankara remains ready to help “establish lasting peace, stability and prosperity in our region.”

“We have previously acted as a host country for direct talks between the parties to the conflict,” the president said. “We are, as before, ready to do our best in this matter and act as a mediator….Ukraine in order to take joint steps with Russia certainly needs to soften its position.”

Putin last visited a NATO nation in 2020 when he traveled to Germany to meet with then-Chancellor Angela Merkel. His Western travel options have been limited by his war on Ukraine and the arrest warrant issued for him in 2023 by the International Criminal Court over alleged related crimes. (read more)

I really do not like Turkish President Recep Erdogan.  His political policy is full of dangerous self-interest (Muslim Brotherhood) and thirst for power (recreation of the Ottoman empire).  However, on the issue of ending this Russia-Ukraine conflict, I will admit Erdogan has positioned himself very well.

If Trump wins in November, Erdogan will play a major role in the end of hostilities.

You might even say Erdogan holds the key to eliminating the self-fulfilling prophecy of a US CBDC that Obama/Biden created.

Jan 6 2024

The Truth About Bitcoin and Cryptocurrencies – An Unpopular Analysis


Posted originally on Jan 5, 2024 By Martin Armstrong 

Bitcoin and Gold

“Could governments seize bitcoin?” That is a common question, and much to the dismay of many, my opinion does not match the typical analysis. I have lost clients due to my honesty regarding crypto. I understand many firmly believe that Bitcoin will one day become the alternative to the USD, but it is unwise to believe that it is a safe haven to park money. I will not sugar-coat the truth, as feelings must be removed from trading. The answer is an astounding YES – governments can seize Bitcoin and all other cryptocurrencies.

To begin, there is much speculation around the founder(s) — Satoshi Nakamoto – who created Bitcoin (BTC) on  June 3, 2009. The mystery person or group (or government agency) has been MIA since 2011. Yet 1 million Bitcoins remain in their original account, untouched. His wallet is estimated to be up to $73 billion, and if this is indeed an individual, he or she is one of the top 15 richest people in the world. They have never moved a fraction of a BTC from their account. So, one wallet contains 5% of all mined bitcoin. Will this person or entity perpetually hold?

Only 2.3% of Bitcoin owners own a full Bitcoin, while 74% own less than 0.01 BTC. Bitcoin was initially a way to remain under the government’s radar, with people using cash to fund their anonymous accounts. The majority no longer use this method and favor platforms that are required by governments to collect and verify all user data.

Bitcoin’s price is akin to the problem that existed when the bubble burst in 1966 with mutual funds because they were listed back then. The value can change at a volatility rate of 10x that of the dollar, making it a highly dangerous instrument as a store of wealth. It is solely a trading vehicle until they weigh it and the value is changed.

1966Crash D

In 1966, investors bid the mutual funds up beyond net asset value so during the crash, people lost everything when they thought it was a secure investment. The net underlying assets may have dropped 20%, but they paid 20% over the net asset value and then sold at 50% of the net asset value. Many mutual funds crashed 70-90%, whereas the Dow drop was 26.5%. Ever since, mutual funds have no longer been allowed to be listed. You go in and out at net asset value. Bitcoin must change its structure, or it will never become a valid currency with a stable store of value, which is supposed to be the whole point. It is just an asset class of high volatility.

Countries with strong currencies do not want bitcoin in existence. There are numerous ongoing efforts to regulate all cryptocurrencies, as politicians claim people are using it to either bypass taxes or commit crimes. Governments have reached the end of their rope and are actively on the hunt for additional taxes. They will default on all their debts, and the new monetary system they are planning will give them total control.

Governments in Europe and the Middle East prohibited my company from selling their clients REPORTS on bitcoin. We spoke with the regulators and explained we were merely selling a report and not currency, but they threw it all in the same bin. The same exact thing happens when we ship ancient coins as governments consider them currency despite them not being in circulation for numerous lifetimes.

1933 FDR exec order gold

Those who call Bitcoin “digital gold” are onto something, as governments have seized gold in recent history. Herbert Hoover admitted in his “Memoirs” that the investigation that led to the creation of the SEC was on the back of a phone call where he was told it was a conspiracy against his administration to create the stock market crash.

Governments will impose capital controls as they always do. That will mean that they will have no intention of allowing people to buy and sell cryptocurrencies. They will most likely do that as well when it comes to gold and silver. A black market in precious metals may exist with a supply that cannot be increased. They might even seize gold mines.

Governments are allowing cryptos like Bitcoin to exist because they can trace the transactions far better than paper currency. Bitcoin is a trading vehicle and nothing more. Just follow Socrates. That gives at least an unbiased viewpoint. What goes up comes down, and what goes down eventually goes up. That is just the law of the market.

Every major central bank has said they plan to move to CBDC. The entire purpose of the CBDC is to impose COMPLETE capital controls. So, how will you buy and sell anything that they deem to be a threat to their totalitarian world?

Dec 7 2023

Because, of Course He Does – JPMorgan CEO Jamie Dimon Wants Crypto Currency Banned in USA


Posted originally on the CTH on December 6, 2023 | Sundance 

Having spent time doing the legwork, I have a completely different perspective on the issues.

If you choose to live in the world of pretending, or if you trust the expressed justifications and motives of the USG as outlined by the DC proletariat, this is not going to be a read that retains your comfort.  However, if you want to boil it all down to the real reasoning, read on.

Top line – JPMorgan Chase CEO Jamie Dimon wants cryptocurrencies banned in the USA.

(Newsmax) – JPMorgan Chase CEO Jamie Dimon on Wednesday suggested bitcoin currency should be banned.

Dimon was speaking during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill.

“I’ve always been deeply opposed to crypto, bitcoin, etc.,” Dimon said in response to a question from Sen. Elizabeth Warren, D-Mass. “The only true use case for it is criminals, drug traffickers … money laundering, tax avoidance because it is somewhat anonymous, not fully, and because you can move money instantaneously.  “If I was the government, I would close it down.” (read more)

Bottom line, the non-pretending reasoning.  The US Treasury has set the financial system on an almost unreversible path to a U.S. Central Bank Digital Currency.  Crypto is a threat to the establishment of that objective.

The leftists and Marxists who now control the various institutions we associate with the United States Government, together with the DC UniParty apparatus that controls the Potemkin village we call congress, are in full alignment with the control objective.  What and who is their target for control? Us.

I’m going to be brutally honest and seemingly radical, but here is the Occam’s razor.

If you have ever wondered why Hillary Clinton could hold a reset button with a visit to Russia, expressing a direct interest in improved relations. Then, if you have ever wondered why Barack Obama would tell Russian President Medvedev he just needed to get through the 2012 election to have “more flexibility,” again expressing an interest in improved relations with Russia; then seemingly all of that is dispatched in 2016 to make Russia the #1 threat…. keep reading.

What happened?

How did the Obama administration go from all efforts to be on good relations with Russia 2009 through 2015, then suddenly pivot to the exact opposite with the Trump-Russia collusion conspiracy, the Russian election interference nonsense, the expulsion of Russian diplomats in Dec/Jan 2017 and suddenly Vladimir Putin as the archvillain for the world?   Apparently, few have ever really asked how that happened.

Here’s the big picture, as seen through the prism of the EU and the non-pretenders in Eastern Europe.

The Marxists in the Obama admin needed a boogeyman in order to pull off their domestic heist and secure the “fundamental change.”  The CIA and State Dept were deployed to utilize Ukraine in 2014 to create the boogeyman, Russia.  Ukraine would be the stick to poke Russia.  The USA needed a proxy; they created one and made the participants rich.

Provoked, Russia fell into the trap and took control of Crimea as they perceived the NATO expansion and likely control of the Black Sea as a threat.  The Crimea move gave the CIA and State Dept the exact response they intended.

The Russia boogeyman was created.

But why?  Why would the effort of the U.S. Government be to provoke and create this crisis?

In the biggest of big pictures, the domestic fundamental change needed it.  We needed a reason to put walls around the U.S – not to keep Russia out, but to keep Americans locked in.  Conflict with Russia became the Obama version of Bush’s conflict with Iraq.  Putin now cast to play the role of Bin Laden.

The Patriot Act was never intended to stop foreign terrorists from attacking the USA.  The Patriot Act was intended to create the DHS surveillance system for domestic control.  It succeeded.   The Russian sanctions were never intended to sanction Russia (and they don’t).  The Western sanctions against Russia were intended to build walls around the U.S. financial system.

Ostracizing the world’s global trade currency, the dollar, from the global trade system was/is a necessary step in controlling domestic currency.  If there is a threat, the government needs to respond. That’s how the crisis is created and not wasted.

Yes, what I am saying is there was a longer and deeper play afoot, a ‘trillions at stake’ game by those who control money and power, using foreign threat as the justification for something that just would not be possible without it.  That’s why Trump was never allowed to breathe for a moment, whenever Russia or Vladimir Putin was mentioned.  The control forces needed Trump to be adversarial to Russia, regardless of whether the threat was real.  After all, it was supposed to be a willfully blind Hillary Clinton in place during this phase.

Conflict with Russia created the opportunity for the USA to create a sanctions regime that doesn’t truly sanction Russia, instead it controls the world of USA finance.  At the end of that control mechanism is a digital dollar, a Central Bank Digital Currency…. and by extension full control over U.S. citizen activity.  The Marxist holy grail.

That moment is closer than most can fathom, and that is exactly why the counterforce of a cryptocurrency, a rebellious mechanism for free people to exchange payment for goods and services, must be stopped by the same USG that is triggering the CBDC.   Crypto is a threat.  Jamie Dimon, along with all the major banks and financial institutions, is one key beneficiary that CBDC (a transactional player for fees therein) so long as JPMorgan stays on task.

JPMorgan CEO Jamie Dimon opposes cryptocurrency.

Democrats, really Marxists, oppose cryptocurrency.

Republicans, really financial beneficiaries of the largesse, oppose crypto currency.

The narrative…. Only criminals, that means those who would be defined as domestic terrorists like pesky remnants of our nation who demand freedom and liberty, would support cryptocurrency.  Criminals, tax cheats, bad people support crypto.  Don’t be a bad person comrade citizen.  Insert vote, pull lever, get pellet, go back to sleep.  You will own nothing and be happy comrade.

Yes, that’s the bigger picture.

Can it be stopped?  I laugh, look in the mirror, think about the reality of how many people think this is an absurd conspiracy theory, and respond with…. How many people even know about the thing you are asking to oppose?

How many people would believe the Western sanctions against Russia were really the USG building a cage to keep us in.  How about we start there.  That’s my answer.

You can travel to Russia.  Wait, what?

Yes, you can travel to Russia without issue.  The Russians don’t care.  The process for getting an entry visa into Russia is the same now as it was five years ago.  Ask Russia for a VISA.  The paperwork has not changed.  Show your passport, give them pictures to create the visa (it’s a full page sticker added to your passport), show your hotel reservation printout, show your travel destination, drop off the paperwork, go back on your appointment date and get the visa.

It’s hard and takes longer from the USA, but it’s not impossible – it’s just easier from the EU.  It’s the booking of a flight into Russia (best done in the EU), the payment for a hotel given the sanctions, the stuff created by the USA that is the roadblock.  From the Russian side of the dynamic, nothing has changed – they don’t care.

How do I know?  The friendly people at the Russian consulate in Budapest walked me through the process.  So, find a way to pay for the hotel in Russia (there are many options), travel to the intermediary airport that has flights into Russia (like Istanbul, Barcelona, Budapest) go to the second smaller terminal in the major airport, hop in the flight and fly in.  Russians don’t care.  Go have a good time.  Leave the same way you came in.  [If by train or road, just have the VISA ready for review]

Scared about travel?   Why?

The same people who tell you where to be scared traveling as an American, are the same people who told you Trump was colluding with Russia.

Da comrade!

lolol

P

Oct 30 2023

Former WEF Associate Speaks out on CBDC


Blog/Great Reset

Posted Oct 30, 2023 by Martin Armstron

Economist Professor Richard Werner previously partnered with the World Economic Forum’s Global Leader for Tomorrow program. He has since turned away from the organization and has been speaking out against the Great Reset. I do not agree with him on many topics but I do appreciate him speaking up on this topic. According to Werner, the WEF plans to roll out CBDC in stages, with the final stage being a small microchip implanted under the skin.

He claims that this microchip will contain our entire identity and access to the world. The chip will act as a passport, digital ID, and license. Our wallets will be condensed into a chip the size of a grain of rice that we will have on us at all times. “It is a violation of human dignity to inject something under the skin. That’s why you need more persuasion,” he stated.

As with most digital currencies, they will begin by marketing it as a convenient way for past payment processing. Then they will use a fear tactic, such as rising crime or digital hacking, and then tell the people that having an individual universal ID will protect them from lowly criminals. But that will not be enough to convince people and eventually payments and the freedom of movement will only be permitted through the use of these implanted devices.

This will provide governments with complete control over the people. Who will have backdoor access to the data? The globalists who want to form a one-world government. Bill Gates came out in 2017 and said he supported Guaranteed Basic Income, but the technology was not yet there. The elites have been waiting for the introduction of the Digital ID amid the COVID power grab. The shrinking middle class will become dependent on the welfare state as the cost of living everywhere continues to be unsustainable. As I have also warned, the overall digital ID will also be reliant on our social credit score. Disobey big brother and you will be removed from society. Fumble your taxes? You will be de-banked in an instant and prevented from accessing public vicinities or traveling.

Revelation 13:16-17 “He causes ALL, both small and great, rich and poor, free and slave, to Receive a Mark on their RIGHT HAND or on their FOREHEADS, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his number.

Some claim this is akin to the mark of the beast and the fulfillment of the prophecy of Revelations while others think it is a neat new technology. It is interesting that an ancient text would declare we need a mark on to buy or sell. Religion aside, we should all be concerned over how much power this technology will give to governments as this technology would equate to the loss of ALL freedom.

Jul 31 2023

Can Cryptocurrencies Survive in an Authoritarian World?


Armstrong Economics Blog/Cryptocurrency Re-Posted Jul 31, 2023 by Martin Armstrong

QUESTION: Thanks for all the great information you share. I have a question regarding cryptocurrencies. Do you think all countries will try to abolish crypto or only certain countries (such as the US) in favor of a central bank digital currency? As of now, many countries appear much more accepting of crypto than the US. Thanks again.

JWM

ANSWER: This is a good question. Before the stupid sanctions imposed on Russia removed them from SWIFT, the IMF would threaten tax havens that if they did not turn over the people with accounts in their country, they would be removed from SWIFT. The sanction against Russia have backfired, so now we have China and Iran setting up their alternatives to SWIFT. I would have assumed that they would have threatened countries against the removal from SWIFT if they did not shut down cryptocurrencies, for they would provide an alternative to CBDC and thereby skirt their end goal of 100% control and taxation. In trying to sanction Russia, they have lost their absolute power to abuse SWIFT to threaten countries. Theoretically, the tax havens could switch to China’s CIPS and say screw you to the US and EU.

As I have said, an EMP could wipe out the entire financial system and neutralize even nuclear weapons capability. I do not see how these people will succeed in dominating the world. Their abuse of SWIFT to punish Russia has undermined their power and the entire world economy. This is most likely part of the 2032 collapse.

I would be concerned about cryptocurrencies making the transition to what lies beyond 2032. That is highly speculative. I would tend to rely on the tangle assets to make the transition to whatever the new monetary system will emerge post-2032.

Jul 12 2023

Nigel Farage – War on Cash


Armstrong Economics Blog/Cryptocurrency Re-Posted Jul 11, 2023 by Martin Armstrong

https://youtube.com/watch?v=EsQ7SMEUWoQ%3Ffeature%3Doembed
Jun 12 2023

The True Story of Hyperinflation


Amstrong Economics Blog/Cryptocurrency Re-Posted Jun 12, 2023 by Martin Armstrong

QUESTION: Dear Mr. Armstrong,
could you please explain what happens in technical terms from a capital flow perspective, when confidence is lost and hyperinflation starts to begin?
For example Turkey. When Erdogan was elected i think you wrote that ever since the lira started dropping. So confidence in politics is key. Do you think one day we will see hyperinflation in Turkey?
And another example, is Yugoslavia: what caused the hyperinflation (in technical terms/capital flow perspective)? Are foreign investors getting rid of the dinars? Too many dinars than suddenly rushed back into Yugoslavia causing hyperinflation?
Regards,
Magdalena Š.

ANSWER: The misnomer about hyperinflation is that it is caused by printing money. It is a RESPONSE to the collapse in the confidence of the government.  If we look at the 3rd century, this is where we find the greatest number of hoards of ancient coins. What began this was the capture of Valerian I by the Persians in 260AD.

Valerian was the first Roman Emperor to be captured and Rome was unable to recuse him. That shook the confidence of the Roman people, but it also was a signal to the barbarian tribes in the North that if the Persians could do it, they could as well. Within 10 years, Emperor Aurelian constructed the great wall around Rome. Never before did Romans have such a defensive wall. That had a powerful army.

There was a trend toward debasing the silver coinage which began with Nero to try to fund the rebuilding of Rome after the Great Fire. But that did not undermine the confidence in the Roman Monetary System any more than our perpetual deficit spending since World War II.

However, a spark is ignited and suddenly that trend turns into what I have called a Waterfall event in the purchasing power of the currency. Such an event has taken various forms. However, the end result is the collapse in the confidence of the government and as a result, that is when you get that waterfall event.

In the case of Germany, Yugoslavia, Hungary, etc, there was a 1918 Revolution where communists seized power and the emperor of Germany lost power. In that case, they actually asked Russia to take Germany after their revolution in 1917. This was the beginning of the Weimar Republic.

Germany was saddled with reparation payments demanded by France. First, you had a communist revolution and people with capital began to flee to other places in Europe or certainly move their money out of German banks. It was this drain of wealth that forced the Weimar Republic to print money to try to make their reparation payments. Then in December 1922, they seized 10% of everyone’s assets and handed them a bond.

Here you can see that after that December 1922 confiscation, hyperinflation simply took over. It was NOT the printing of money that caused the hyperinflation it was the collapse of confidence FIRST which then compels the government to expand the money supply lacking taxation revenues etc.

I suspect the spark this time may be the Digital Currency and the proposed cancellation of paper currency. This is why people are moving to anything tangible from real estate, gold, silver, ancient coins, and even equities. With DIGITAL CURRENCY they will have capital controls and prevent you from even moving money outside of your country.

The precise day of the ECM was the announcement of the IMF Digital Currency which they intend to replace the US dollar as the reserve currency. This may be timed with the turning point in 2024. It is unlikely that they would cancel paper currencies before the 2024 election. This is all being

May 3 2023

The Rule of Law – BEWARE Crypto-Lovers


Armstrong Economics Blog/Cryptocurrency Re-Posted May 2, 2023 by Martin Armstrong

COMMENT: Mr. Armstrong; I think it might be helpful to explain to people that the government can subpoena any third party with regard to cryptocurrencies and they will turn over whatever they have that will incriminate a person. As a lawyer, I have to defend a client who thought Bitcoin was exempt from central banks and totally safe. He even seemed to think if there was a nuclear war that Bitcoin would still exist in South America. Some people are just so gullible it is sad and now he faces several years in prison for tax evasion. Perhaps it would help to explain how a third party will turn over whatever they have on you and that includes Google etc.

Many people listen to you because you are not a conspiracy junkie.

All the best

WH

ANSWER: You have a good point. DO NOT even allow Microsoft One Drive to have anything. The government will subpoena any third party and they will give up everything. I do not understand why people are such diehard Bitcoin lovers. ANYTHING that will be on the power grid the government will control if you believe it or not.

Bitcoin is a TRADING vehicle no different from cattle. It is NOT a store of wealth, as it fluctuates like everything else. This is a quarterly chart of Bitcoin. It rises and falls no different than any other instrument. It is not a “store” of value maintaining some constant value to park your money.

ALL cryptocurrency is on the target list for the Biden Administration. We are entering the final stages of the Decline & Fall of Western Civilization. You can see as we progress, they will become more and more aggressive because they can feel their power slipping away. ONLY tangible assets make the transition to the new value on the other side of 2032. NOTHING digital will make that transition.

Both the United States and Europe will split. That means the rules will be different everywhere, and there will be places without power. No power = no value for any digital currency. Let’s get realistic here.

Apr 25 2023

The Great De-Dollarization Fraud of a Lifetime


Armstrong Economics Blog/USD $ Re-Posted Apr 24, 2023 by Martin Armstrong

COMMENT: Marty; I was in a board meeting and I just wanted to let you know one guy who is there simply because his family had a stake in the company with zero worldly experience, started ranting about the end of the dollar he probably read on that biased _____________________. I asked this fool, should we then move all our company funds to Russia or China since Brazil is too small of an economy? Should we stop dealing with Americans? He had no response.

Separating a fool from his money seems to be a never-ending fact about humanity.

Cheers

You are the only sane one out there these days

PY

REPLY: I know what you mean. The people promoting this BRICS nonsense have no understanding of the real world. Institutions cannot park billions in Brazil, China, or Russia. Especially in the face of war. The reason the Euro has failed as a serious reserve currency is that there is NO NATIONAL EURO DEBT! Institutions have to still jockey between the various risks of each country and all the Euro did was transfer the foreign exchange risk to the bond market. Sorry, I just do not see where the dollar is in some state of collapse.

When they came to me to create the Euro, I warned them that there would be no single interest rate without the consolidation of the debt. But Kohl never allowed the German people to vote on joining the Euro, so he would not allow the consolidation of the debt. I was told then that they just had to get the Euro started and they would worry about consolidating the debts later. Of course, that never came. Hence, the volatility in FX simply moved to the debt market. The bottom line – the US dollar is still the ONLY place for major institutions to park money – PERIOD! They are not buying Brazil, China, or Russia.

World Trade as a percent of total world GDP PEAKED in 2008 at 61%. It has been in a bear market that will not bottom before 31.4 years taking us into 2040. The sanctions on Russia have divided the world economy and killed SWIFT but it has also ended globalization. To think that the BRICS can replace the dollar with ZERO capacity for international capital to park in such markets is the delusion of absolute fools. China will surpass the USA, but only after 2032.

So here we go again. This nonsense is leading unsuspecting people to follow the piper to divest of dollars and move into what exactly? Most of this is propagated by the gold bugs who will NEVER listen. They hate the dollar because they think gold will rise then. What kind of a world will exist if their doom and gloom were a reality? You might not have any place to spend your wealth. I own gold NOT as an investment, but because of its neutrality.

There is such a major fraud going on with digital currencies with people reporting that the latest scam is using social media to tell people to transfer all their cash to a digital wallet, and BTW – here is the link! If you believe that one, perhaps you would like to buy the Brooklyn Bridge. NYC has a deficit and they will sell it for all the money in your savings. Wake up!

These people remind me of the famous drawing of a fool and his cat.