I find it interesting how nobody seems to distinguish between a digital currency and blockchain cryptocurrency. The former is not traceable other than that transaction. To eliminate cybercriminals, the World Economic Forum is pushing ending paper money and moving to cryptocurrencies – not digital. With blockchain, the government would be able to trace the money to the criminal. The side benefit will be to ensure everyone pays taxes on everything they ever dreamed of. This is the REAL purpose of cyberattacks that are private decisions and outside the jurisdiction of government to trace and prosecute.
This is why Klaus Schwab is warning of cyberattacks. This is to end commerce globally without government-trackable cryptocurrencies. In 1934 when Roosevelt confiscated gold if you had money on deposit in a bank, which had been in gold coin, Roosevelt seized it all. The difference between a digital currency you use today with a debt or credit card is that is not traceable beyond a single transaction. Bitcoin using blockchain allows the government to trace every person who had that Bitcoin in the flow of money. Crypto is far more than digital and they never want to talk about that either. They will tell you no more credit card theft. Everything will be 100% secure. You will no longer be able to find a $5 bill in the parking lot.
I have written before how the Romans tried to outlaw prostitution declaring you could not pay a prostitute with a coin that had the image of the emperor which they all did. So they created these tokens you would buy from a money changer, you would pay the prostitute and she accepted them because she knew she could go to the money changer and he would convert them to coin.
Human nature is resilient. There are already counterfeit COVID cards. In Japan, every new emperor would devalue the outstanding money supply to 10% of his new coins, which also had no metal value. Soon, the Japanese refused to accept Japanese coins. They used Chinese coins and bags of rice. The Japanese government LOST the confidence of its people and was UNABLE to issue coins for 600 years.
They are desperate to get China and Russia into their Great Reset because just as the US dollar is the world currency with 70% of paper dollars circulating outside the United States, that could be replaced by the Chinese currency as was the case back in Japan. Will history repeat? Will we be using Chinese currency because Schwab succeeds in 2023 to end paper money in the West? My advice to China – start printing and imitate the stability of the dollar and never cancel your currency.
Even when Rome fell in 476AD, the barbarians still imitated the Eastern Roman coinage issuing the coins in the name of the Eastern Emperor. This only illustrates my point, that often the currency commonly used is that of another country.
The Federal Reserve has discontinued updating the M1 and M2 weekly money supply series and is instead now updating the series monthly. What is really going on is what I have been talking about and was one of the key subjects behind the book I published – Manipulating the World Economy (5th edition to be released in a few weeks). This change reflects a profound change in economics whereby Keynesian Economics is collapsing. The view at the Fed has been stating what I have been warning was unfolding. Chairman Powell has stated that he no longer regards that the quantity of money is relevant. Powell has stated that the practice of measuring money no longer matters because it’s unrelated to inflation. The Fed now realizes what I have been saying all along – it is a matter of CONFIDENCE.
This money supply has been published since the 1970s when the idea of Milton Friedman first took hold as monetarism. It was Milton who convinced President Nixon that the value of money was no longer calculated by the amount of gold in your vault. The Fed has changed the publishing frequency on M1 and M2 money supply from weekly to monthly which is a direct result of the collapse in economic theory, although no economist will explain it that way.
The entire idea behind QE was you increase the supply of money and inflation would follow. They have poured money into the system since 2008 dramatically increasing the money supply which has had ZERO impact on inflation.
The Federal Reserve has realized what I have been saying turns out to be true. In principle, they realize that inflation is not tied to the money supply. Not only has the Keynesian economic theory failed, but so has Monetarism. Now the goldbugs have to realize that inflation is not tied to the money supply and that has nothing to do with hyperinflation and just maybe we can see that the emperor has no clothes after all.
Thank you for all the letters and emails congratulating me on the book and its impact on changing the central banks. The war has not been won. Now they move to the digital world.
FED Notes:
Starting on February 23, 2021, the H.6 statistical release is now published at a monthly frequency and contains only monthly average data needed to construct the monetary aggregates. Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided. For further information about the changes to the H.6 Statistical Release, see the announcements provided by the source.
Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.
Beginning May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of OCDs and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and OCDs (before May 2020) or other liquid deposits (beginning May 2020), each seasonally adjusted separately.
Interestingly, at least 33,565 New Yorkers exchanged their NY driver’s licenses for Florida credentials between September 2020 and March 2021. In total, during this COVID nonsense, 104,960 New Yorkers made the switch to Florida. New Jersey came in second with 53,901, and the migration has also been from Georgia (48,143), Illinois (46,042), and California (43,801). The stats are really astounding. We will see taxes rise further in those states because the people leaving are the highest income earners.
The general talk has been that the end of the fiat monetary system is imminent. Central bank digital currencies allegedly threaten the US dollar, according to some very shallow reasoning and a total lack of understanding about why the dollar is even the reserve currency. Beyond that delusion, these people are claiming that cryptocurrency will end fiat currency. But even private cryptocurrency is not backed by anything either.
Then there is serious talk behind the curtain in addition to the United Nations trying to become the one-world government that will be a dictatorship with no democratic process whatsoever. There is some argument that the central banks’ digital currencies will not displace the dollar and that title will go to the digital “IMF Coin” that will become the new reserve currency.
The dollar is the reserve currency, just as was the Roman silver denarius because it was not just the financial capital of the world. Still, they both represented the major economy, and everyone was trying to sell to the core. Rome conquered most of the Western World at that time, and most found it beneficial to be part of Rome. They often received capital investment into emerging markets, and they produced local goods to be sold to Rome. For example, Egypt was a major supplier of wheat to Rome.
Most transactions today are digital, so converting paper dollars to cryptocurrency will not dramatically alter the economy. The UN and IMF are simply trying to take over the world for a power play. They do not have armies, nor do they possess economies to qualify for the world’s financial capital. They are drunk with this delusion of power that by sheer decree, they can rule the world. From the very beginning, the elite saw in their vision that they would dominate the world and end democracy. Huxley was against the United States and believed that “unrestricted individualism” was equally wrong as a total dictatorship as in communism.
This is what Kalus Schwab is saying in his 8 points for 2030 — end the threat of “populism,” as was the case in electing Trump, by eliminating any right of the people to be heard. What Schwab, the UN, and IMF see is retaining some basic human rights but removing our right to even say what kind of government we want. In their world, only the elite know what is best — not the people.
This is the real agenda behind cryptocurrencies to lay the foundation for the ultimate power being handed to the UN and the IMF. This folly will not succeed. For such entities are like men and even corporations — they are never immortal. I will celebrate the day the flags of the UN are lowered forever. It has always been a very dangerous and lustful entity drooling for supreme power.
QUESTION: Hello. I know financial gurus are like noses; but I would like to share something I heard. I heard its’ possible the money in our accounts could be exchanged for – lack of better term – Pelosi dollars. The value of these credits could be changed at will. Buying bitcoin will stop this and put our money out of their reach. I believe they can always get our money. Please explain how bitcoin is vulnerable. Thank you. BS
ANSWER: Look, any cryptocurrency can be seized and outlawed at any moment. They can seize all places that store precious metals for clients. Herbert Hoover admitted in his “Memoirs” that the entire 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. When he realized that there was no such plot, he apologized in his “Memoirs” writing:
“But when representative government becomes angered, it will burn down the barn to get a rat out of it.”
There is ABSOLUTELY nothing the government cannot do. They rigged the election with mail-in ballots and you will never be able to truly verify anything. The medical profession has been converted into a prosecution and political manipulation tool. They have bribed BigTech to do their bidding and they own all the major mainstream media with few exceptions that make little difference. Do you really think they would EVER allow Bitcoin to defeat their agenda?
Drug dealers are not using and cryptocurrency because blockchain can be used to track money. There are programmers working right now on trying to devise a completely new form of cryptocurrency without blockchain to restore privacy. Blockchain technology can be traced! With the propaganda about Bitcoin and blockchain, it offers NO security in any transaction which is deemed illegal. Tax evasion is also a crime. I can CONFIRM that Bitcoin has been allowed to prosper because the government can trace the transactions and that is far better for them than paper money.
There are programmers now fully aware that Bitcoin offers no protection whatsoever and they are trying to create a new system that obliterates the blockchain to make it untraceable
Armstrong Economics Blog/Russia Re-Posted May 8, 2021 by Martin Armstrong
Putin reveals what he thought about Lenin’s entire Communist movement, making it clear that Lenin was not a statesman but just a Bolshevik Revolutionary.
The importance of this answer by Putin reveals how he thinks of Ukraine. Lenin tried to standardize all humans into this cookie-cutter idea and failed. Putin is revealing his disagreement with the Great Reset, which is following the same mistake of Lenin. He is far more intelligent than the Western press portrays him.
Posted originally on the conservative tree house May 7, 2021 | Sundance | 157 Comments
This obtuse explanation from Treasury Secretary Janet Yellen about the April jobs report is one for the record books. According to Yellen, the government handing people more free money than they would achieve with a working job is not a disincentive for employment.
To prove her case she cites the hospitality industry hiring people in April. However, what Yellen doesn’t figure into her bizarro logic is that all sectors in all states are not created equal. Yes, the statistics of “sector analysis” apply across the entire nation; however, the underlying economic activity is not equally distributed.
Blue states are more economically closed than red states. The job gains are in the states where the economic activity is strongest and the incentives for workers are the biggest. The lack of people working is disproportionately happening in the blue states where dependency models are strongest. WATCH this nonsense:
These bureaucrats don’t have a lick of common sense. According to Secretary Yellen’s logic, there are times when water is not lacking dryness.
There is a massive campaign unfolding against Facebook. The biggest and most stupid mistake they made was to take sides in politics by banning and canceling anyone with who they disagree. Besides all of that, Facebook has invaded people’s privacy like no other platform. They track everything you do and sell that info to the highest bidder. The number of active users of Facebook (those people who have logged onto the site in the previous month) has reached a historic high of 2.45 billion. To put this in some context, approximately 32% of the global population now uses the social media platform, and the trend line of participation is still going up. About 63% of American adults are on Facebook and 65% of the youth.
Back in 2004, when a 19-year-old Zuckerberg had just started building Facebook, he sent his Harvard friends a series of instant messages in which he marveled at the fact that 4,000 people had volunteered their personal information to his nascent social network. “People just submitted it … I don’t know why … They ‘trust me’ … dumb fucks.”
In 2019, Facebook was ordered to create new layers of oversight for its collection and handling of users’ data by the Federal Trade Commission. The FTC detailed a privacy settlement with the social network. Still, the FTC buckled to the lobbying power of Facebook. The F.T.C.’s commissioners approved the restrictions in a 3-to-2 vote but drew very sharp criticism for not going far enough. The FTC utterly failed to curb the data collection of the world’s largest social media company. Republican and Democratic lawmakers even said that the settlement was a drop in the bucket for Facebook, The FTC failed to limit a core practice that has repeatedly raised privacy questions, and since they have ventured into manipulating elections precisely as the Russians were accused of back in 2016. The people simply being victims of this cancel culture is growing exponentially.
So just how stupid are people? It seems to be very stupid. Back in 2018, the Observer revealed how Cambridge Analytica, a company funded by conservative billionaire Robert Mercer, acquired and exploited the data associated with 50 million Facebook profiles. It appears that while Facebook had been aware of what the Observer described as “unprecedented data harvesting” for two years, it did not notify the affected users.
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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