Armstrong Economics Blog/Economics Re-Posted Dec 31, 2020 by Martin Armstrong

QUESTION: Are the central bankers really behind this digital currency? Will that end the dollar as the reserve currency?

Thank you for sharing your experience.

HV

ANSWER: No the central bankers are NOT the instigators. It was Christine Lagarde who when at the IMF was threatening counties they would be blocked from Swift if they did not give up all those who had accounts in these tax havens. Germany went as far as to violate Swiss law and paid bribes to bankers to leak the records of the firms they worked for, which not even Hitler went that far. The entire digital currency idea was pushed by Christine Lagarde while at the IMF. But look closely, she is also a board of trustee member of Schwab’s World Economic Forum along with the new head of the IMF Kristalina Georgieva. It was Schwab who got Legarde put into the IMF and then he put her in the central bank. He then had Georgieva put into the IMF.

People who always point to the central bankers really do not know what is going on behind the curtain. Schwab is in league with Bill Gates and George Soros. Gates was pushing the digital currency at the United Nations. Melinda Gates was pushing the digital currency at the G20. It was Gates directing Modi to cancel the currency in India and he did so without ever telling the central bank in advance!

All this nonsense that we are moving to this digital currency system that will dethrone the dollar is just laughable. The three main elements that are the reason why the dollar is the reserve currency has been

1. the US never canceled the currency,
2. there are no capital-controls so anyone can issue bonds in dollars worldwide, and
3. the US has the world’s largest consumer economy which has funded the rise of China, Russia, Japan, and Germany along with all of Europe.

A digital currency does not override any of that. China knows what is unfolding and they are doing two main strategies that will impact the dollar long-term – not short-term.

1. They are building their own consumer economy to reduce reliance on the West
2. They are developing their digital currency to REPLACE the Swift system

This conspiracy against the central banks has been going on a long-term and to me, it just seems to be a diversion to keep people looking in the wrong direction. I have worked with more central banks around the world than probably any independent analyst/adviser. I do not talk about theory – it comes from experience!

Armstrong Economics Blog/Cryptocurrency Re-Posted Nov 27, 2020 by Martin Armstrong

COMMENT: I admit I have been a gold bug and I bought into Bitcoin. I have been following Socrates since you began forecasting Bitcoin. I want to say that it has convinced me that these fundamental forecasts are just like fake news. When Socrates said gold would decline and then Bitcoin would rise, that made no sense but it was right.  All they talk about is how hyperinflation will take place when the dollar loses its reserve status. Socrates is a real gift to us all. I think it is time to take it public to fight these Silicon Valley terrorists trying to change our future.

FK

ANSWER: Socrates just calls the shots as they unfold without bias or predetermined philosophy. I think what you have noticed between gold and bitcoin is interesting. Buffett sold his bank shares and first moved to gold shares. Warren Buffett’s Berkshire Hathaway bought a stake in Barrick Gold in the second quarter. The total stake in Barrick Gold was worth about $564 million. Then Buffett sold 9 million shares of ABX trimming the position 44% from Q2. Buffett also sold off Wells Fargo (WFC), JPMorgan Chase (JPM), PNC Financial Services, and M&T Bank, according to reporting by Yahoo Finance. The company also dropped its entire position in Costco.

Buffett, along with Bloomberg, is one of ABC News’ the “Super Rich Friends” and forget about his buying into gold and then selling it out. More importantly, he has been liquidating the bank stocks. This is what I have been warning that BigTech is moving in to replace banks. Don’t forget that Gates resigned from Berkshire to try to hide his influence from investment decisions behind Buffett. It has been Bill Gates calling for 10 more weeks of back in April lockdown! Bill Gates resigned both from Microsoft and Warren Buffet’s boards. It has been Bill Gates pushing to eliminate paper money and move digitally.

This is a coordinated effort with the World Economic Forum taking the visible lead. This is how all MANIPULATIONS take place. One person is upfront and gets all the press like Soros and the British pound. But there is a group with all the same positions. When the Long-Term Capital Management Crisis hit in 1998, it turned into a global liquidity crisis BECAUSE they all had the same position – Russian bonds. This is Klaus Schwab up front but all of BigTech is right behind him. Schwab has been cultivating heads of states to sell his Stakeholder Economics. He is an elitist and destroying the world economy to rebuild it from scratch in his mind is perfectly fine just hand out a guaranteed basic income as they are doing in the UK and in Canada to stay home.