Seems many readers are confusing Bitcoin with this thread. Bitcoin can never become a reserve currency, because the $200+ trillion of global wealth is not going to be placed in a speculative investment. (Stop with your fantasies about scaling over time, you don't have a clue about reality)
Large capitalists are conservative. They want safety of capital firstmost, then a steady average ROI.
There will never exist such as a thing as a single crypto-currency that is decentralized. It can't exist. Bitcoin is not decentralized. True decentralization will only come from multiple competing currencies, thus of course these can never be the reserve currency.
My thesis is that the Knowledge Age (we are leaving the Industrial Age) reduces the demand for stored monetary capital and increases the demand for stored knowledge capital. The Industrial Age (which is moving towards 0 or negative profit margins in China) required large amounts of fixed capital investment, thus a high demand for stored monetary capital. The factory worker and factory engineer are economically insignificant compared to the NAV capital costs of the factory infrastructure.
Whereas the high profit margins are moving towards the knowledge production sector (software programming, marketing, etc). The Industrial Age is dying economically and along with it will die the demand for stored money. The larger the capital, the less effectively one will be able to invest it with a positve ROI.
Thus we don't need crypto-currency to be a reserve currency. Let the oligarchs (and the socialist sheeople/masses) have their reserve currency and enslaved nation-state governments. That is all part of the process of that paradigm dying.
The Knowledge Age will rise with competing crypto-currencies.
Bitcoin will not "winner take all". I guarantee you that.
Topic: One-world reserve currency inevitable and will enslave all nations? - page 10. (Read 19750 times)
March 13, 2015, 08:19:04 PM
March 13, 2015, 08:00:58 PM
A singe currency is as feasible as world peace.
China, Russia, the UK, the US, North Korea or Japan will never accept a currency out of their direct control.
China, Russia, the UK, the US, North Korea or Japan will never accept a currency out of their direct control.
Readers don't read, or lack reading comprehension.
Why don't you try again to read the thread. The national currencies will float against the reserve currency.
The coming global crisis will sink further and further into the abyss until the nations agree to a monetary reset and the only way they will ever agree is if that new monetary reserve unit is not controlled by the USA as it is now.
March 13, 2015, 04:16:20 PM
iamback is ignoring his own OP.
Must be catching up on his sleep.
Must be catching up on his sleep.
March 13, 2015, 04:06:22 PM
A singe currency is as feasible as world peace.
China, Russia, the UK, the US, North Korea or Japan will never accept a currency out of their direct control.
China, Russia, the UK, the US, North Korea or Japan will never accept a currency out of their direct control.
March 12, 2015, 09:46:18 PM
Been saying it for a while... they have been looking at bitcoin and they are working in a bitcoin ripoff and will try to push it into them asses and make it mainstream, goverments will probably back it up since they will be all in. Of course all centralized, regulated and closed source like Bill Gates want it. These pigs want to distract the people from bitcoin by creating their own currency and move their fiat scam into the e-currency field and start all over again. This is why we need to reach critical mass of adoption with Bitcoin as soon as possible and go mainstream.
Actually 1 particular billionaire has already done a front run on bitcoin and already controls the Bitcoin Foundation. I discovered this in October of 2014 and soon after the Bitcoin Foundation began scrubbing the article from the Internet. At the time I thought that they would be proud of their achievement but I guess my linking to it and hammering on it made them get rid of it. Google does not have a cache of it and the wayback machine does not work properly on all of the links but I found one that still works:
Original Link:
https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/
Wayback Link:
https://web.archive.org/web/20141107172316/https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/
Here is a direct quote to myself about their plan for bitcoin, revealing said billionaire, and you will know him.
Quote
Re: [ANN][BURST] Burst | Efficient HDD Mining | New version 1.1.3
October 11, 2014, 02:04:57 AM
Reply with quote Edit message Delete message #13435
How do you think the massive changes coming to Bitcoin will affect alts? Especially BURST. I have not decided yet but when the billionaires move in you know shit just got real!
The Bitcoin Foundation, being led by a Sir Richard Branson front man, is going to change bitcoin. BTC symbol will be replaced with XBT. This will be, in effect, a 1:1000000 stock splt. 1 BTC will become 1 million XBT, which will be the new standard for bitcoin. The end game here is to take it mainstream. When Richard Branson is front running bitcoin and changing it, you soon see where the real power lies. The smart investor best be stocking up on BTC now because 1 XBT could easily be worth $1 within 10 years. This is a paradigm shift.
Read all of the juicy details now. This is historical and soon everyone will want some. XBT is about to be pushed down the path of a global digital currency accepted everywhere.
https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/
I wonder if Satoshi = Sir Richard Branson? Hmmmmm? Interesting!
https://bitcointalksearch.org/topic/m.9124067
October 11, 2014, 02:04:57 AM
Reply with quote Edit message Delete message #13435
How do you think the massive changes coming to Bitcoin will affect alts? Especially BURST. I have not decided yet but when the billionaires move in you know shit just got real!
The Bitcoin Foundation, being led by a Sir Richard Branson front man, is going to change bitcoin. BTC symbol will be replaced with XBT. This will be, in effect, a 1:1000000 stock splt. 1 BTC will become 1 million XBT, which will be the new standard for bitcoin. The end game here is to take it mainstream. When Richard Branson is front running bitcoin and changing it, you soon see where the real power lies. The smart investor best be stocking up on BTC now because 1 XBT could easily be worth $1 within 10 years. This is a paradigm shift.
Read all of the juicy details now. This is historical and soon everyone will want some. XBT is about to be pushed down the path of a global digital currency accepted everywhere.
https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/
I wonder if Satoshi = Sir Richard Branson? Hmmmmm? Interesting!
https://bitcointalksearch.org/topic/m.9124067
March 12, 2015, 07:14:22 PM
Been saying it for a while... they have been looking at bitcoin and they are working in a bitcoin ripoff and will try to push it into them asses and make it mainstream, goverments will probably back it up since they will be all in. Of course all centralized, regulated and closed source like Bill Gates want it. These pigs want to distract the people from bitcoin by creating their own currency and move their fiat scam into the e-currency field and start all over again. This is why we need to reach critical mass of adoption with Bitcoin as soon as possible and go mainstream.
March 12, 2015, 05:22:20 PM
I will share my thoughts on this one.
I don't see bitcoin becoming world currency, simply because bitcoin puts the responsibility IN YOUR HANDS.
Our world is lacking of consciousness, most people don't want to care or take responsibility for what they do. They take this zombie-like state "everything is gonna be fine. and if it's not fine it is SOMEONE ELSE FAULT not mine.".
And that in my point of view is what leads to all the major "problems" we face at this time.
"Go shopping, watch some TV, forget about it, take some drugs". That is the kind of idea that is not only fomented by many people at the top but mainly desired by many people at the bottom.
They don't want to think, they don't want to face the consequences, they don't want to choose. And if you don't take control of your life, someone will. Not by force but because that is what you are demanding.
So I see bitcoin as a currency that puts the responsibility on the person. Not the bank or anyone else. You take the risk of its fluctuation, you take the risk if you are robbed. There is no charge-back, no insurance, no nothing.
This zombie attitude is not good for anyone. If there is something to change and some way to make things better that is by expanding consciousness.
I don't see bitcoin becoming world currency, simply because bitcoin puts the responsibility IN YOUR HANDS.
Our world is lacking of consciousness, most people don't want to care or take responsibility for what they do. They take this zombie-like state "everything is gonna be fine. and if it's not fine it is SOMEONE ELSE FAULT not mine.".
And that in my point of view is what leads to all the major "problems" we face at this time.
"Go shopping, watch some TV, forget about it, take some drugs". That is the kind of idea that is not only fomented by many people at the top but mainly desired by many people at the bottom.
They don't want to think, they don't want to face the consequences, they don't want to choose. And if you don't take control of your life, someone will. Not by force but because that is what you are demanding.
So I see bitcoin as a currency that puts the responsibility on the person. Not the bank or anyone else. You take the risk of its fluctuation, you take the risk if you are robbed. There is no charge-back, no insurance, no nothing.
This zombie attitude is not good for anyone. If there is something to change and some way to make things better that is by expanding consciousness.
March 12, 2015, 04:27:42 PM
Three days before the 10 year anniversary of the attack on 9/11/2001, I referred to a debate I had with Noam Chomsky.
http://esr.ibiblio.org/?p=3689#comment-321944
http://esr.ibiblio.org/?p=3689#comment-321944
Quote from: iamback Sept. 8, 2011
The events leading out of feudalism appear to be attempts to free humanity from the slavery of unmotivated passive capital, whose power was sustained by the marriage of state and religion (which outlawed the “sin” of usury), by using debt to bypass and compete against hoarded private capital. I wrote previously that gold can’t be the only money, otherwise passive capital enslaves all the future innovation, because all profits are captured as a deflation relative to gold. Appears mankind has been oscillating between debasement blowback (Roman empire and now) and no debasement motivating capital hoarding (feudalism).
The fundamental problem is that in a material world, the transactional cost in The Theory of the Firm (thanks Winter), enables the corporate capital to accumulate faster than for those who produce the knowledge. However, I think we are entering a radical paradigm shift, where knowledge (the mind) becomes much more valuable than material production. Because industry can be automated (see the $1200 3D printer) but the knowledge isn’t static and can’t be automated. I refuted Kurzweil’s Singularity and debated Chomsky on Hume’s mitigated skepticism (the upshot is I argue that abstract math and infinity exist and are equivalent to the never ending universal trend to maximum entropy).
The fundamental problem is that in a material world, the transactional cost in The Theory of the Firm (thanks Winter), enables the corporate capital to accumulate faster than for those who produce the knowledge. However, I think we are entering a radical paradigm shift, where knowledge (the mind) becomes much more valuable than material production. Because industry can be automated (see the $1200 3D printer) but the knowledge isn’t static and can’t be automated. I refuted Kurzweil’s Singularity and debated Chomsky on Hume’s mitigated skepticism (the upshot is I argue that abstract math and infinity exist and are equivalent to the never ending universal trend to maximum entropy).
March 12, 2015, 12:02:12 PM
---------------------------- Original Message ----------------------------
Subject: Armstrong’s lame ass rebuttal is “names of the banksters” change
From: iamback
Date: Thu, March 12, 2015 12:05 pm
To: "Armstrong Economics" <[email protected]>
--------------------------------------------------------------------------
Armstrong’s lame ass rebuttal to this thread, does not address the allegation that the one world reserve currency will enslave the nations, because he knows damn well that I am correct.
Is Armstrong working for the global elite? Or did they brainwash or hypnotize him in prison? Why can't he refute or admit I am correct?
Instead he points out that the names of the global elite change. Whoop-dee-doo! So what
People die, others take over. Transfers of power occur. Nevertheless the global elite (a.k.a. banksters) remain there doing what they do.
http://armstrongeconomics.com/2015/03/12/the-ny-boys-are-the-modern-medici/
Subject: Armstrong’s lame ass rebuttal is “names of the banksters” change
From: iamback
Date: Thu, March 12, 2015 12:05 pm
To: "Armstrong Economics" <[email protected]>
--------------------------------------------------------------------------
Armstrong’s lame ass rebuttal to this thread, does not address the allegation that the one world reserve currency will enslave the nations, because he knows damn well that I am correct.
Is Armstrong working for the global elite? Or did they brainwash or hypnotize him in prison? Why can't he refute or admit I am correct?
Instead he points out that the names of the global elite change. Whoop-dee-doo! So what
People die, others take over. Transfers of power occur. Nevertheless the global elite (a.k.a. banksters) remain there doing what they do.http://armstrongeconomics.com/2015/03/12/the-ny-boys-are-the-modern-medici/
Quote from: Armstrong
QUESTION: Mr Armstrong; Thank you for clearing up that persistent rumor that the Rothschilds are the culprit. That is sort of believing that the Medici are still running the Vatican and are the bankers who are in charge of the world. Why do people constantly create grand conspiracies when the truth is right before their eyes? I reread your Behind the Curtain writing. No wonder mainstream press will not write about your amazing track record. The real conspiracy is to protect New York who are the new Medici and Rothschilds of the 21st Century. Correct?
Thank you so much for you courage. It has been inspiring.
Rob
ANSWER: Absolutely. It is like the stories of alien abduction. If the government has secret technology that gets exposed, the best way to cover it up is to exaggerate it and you suddenly convert a genuine sighting into a conspiracy theory. They have done the same with everything.
We use to publish forecasting on Bloomberg. Yet, I have been erased from their computer terminals based upon what so many who have reported. In the movie, there is a clip from Bloomberg TV. When they went to Bloomberg and asked for footage, they said there never was any. The movie producers had to find that privately and then went back to Bloomberg for permission to use it. They were shocked it existed. Reality is just not what people think. They went to the New York Times and others asking to be interviewed for the movie – they all declined. They went to the government and judges. They too all refused any comment. What is everyone protecting? It ain’t the Rothschilds and Medici.
You look for patterns. What does New York have in common with Rothschilds of the 19th century? They ensure governments were dependent upon them for loans. Just follow the money. The Rothschilds are not the Primary Dealers who sell US debt – that is the NY Boys. Look at the Medici. They installed people as Pope. Is there anything different from that strategy and buying elections today and installing key people at the head of central banks (Mario Draghi) or the head of US Treasury (Robert Rubin, Henry Paulson). Just follow the money and you will find history repeat because the PASSIONS of man never change. It’s just like a giant Shakespeare’s play acted out for centuries. The plot is always the same – only the actors change. Putting out grand conspiracy theories about the Bilderbergs and Rothschilds are cover-up for the NY boys. There is absolutely NO WAY Bloomberg or even the New York Times would report how successful our model has been. To do that opens the door to exposing my adversaries. So it is best to pretend I do not exist. That is standard operational procedure.
Thank you so much for you courage. It has been inspiring.
Rob
ANSWER: Absolutely. It is like the stories of alien abduction. If the government has secret technology that gets exposed, the best way to cover it up is to exaggerate it and you suddenly convert a genuine sighting into a conspiracy theory. They have done the same with everything.
We use to publish forecasting on Bloomberg. Yet, I have been erased from their computer terminals based upon what so many who have reported. In the movie, there is a clip from Bloomberg TV. When they went to Bloomberg and asked for footage, they said there never was any. The movie producers had to find that privately and then went back to Bloomberg for permission to use it. They were shocked it existed. Reality is just not what people think. They went to the New York Times and others asking to be interviewed for the movie – they all declined. They went to the government and judges. They too all refused any comment. What is everyone protecting? It ain’t the Rothschilds and Medici.
You look for patterns. What does New York have in common with Rothschilds of the 19th century? They ensure governments were dependent upon them for loans. Just follow the money. The Rothschilds are not the Primary Dealers who sell US debt – that is the NY Boys. Look at the Medici. They installed people as Pope. Is there anything different from that strategy and buying elections today and installing key people at the head of central banks (Mario Draghi) or the head of US Treasury (Robert Rubin, Henry Paulson). Just follow the money and you will find history repeat because the PASSIONS of man never change. It’s just like a giant Shakespeare’s play acted out for centuries. The plot is always the same – only the actors change. Putting out grand conspiracy theories about the Bilderbergs and Rothschilds are cover-up for the NY boys. There is absolutely NO WAY Bloomberg or even the New York Times would report how successful our model has been. To do that opens the door to exposing my adversaries. So it is best to pretend I do not exist. That is standard operational procedure.
March 12, 2015, 05:38:34 AM
Spain can not escape austerity because they do not have their own currency to print to finance their bankrupt government!
And even if they did have their own currency floating against a one-world reserve currency, they would still be unable to escape austerity, because investors would punish them by fleeing to less bankrupted nations where they can buy debt denominated in the reserve currency unit-of-account.
If nations attempt to sell debt denominated in their national currencies (that float against the one-world reserve currency), they will find that they can only capture speculative ingress and they will suffer massive volatility and crisis on each egress, because remember international capital flows follow a herding pattern.
Don't forget the famous statement from a USA Treasury official to a Third World country official, "It is our dollar, but it is your problem".
http://armstrongeconomics.com/2015/03/12/spain-look-to-overthrow-austerity/
And even if they did have their own currency floating against a one-world reserve currency, they would still be unable to escape austerity, because investors would punish them by fleeing to less bankrupted nations where they can buy debt denominated in the reserve currency unit-of-account.
If nations attempt to sell debt denominated in their national currencies (that float against the one-world reserve currency), they will find that they can only capture speculative ingress and they will suffer massive volatility and crisis on each egress, because remember international capital flows follow a herding pattern.
Don't forget the famous statement from a USA Treasury official to a Third World country official, "It is our dollar, but it is your problem".
http://armstrongeconomics.com/2015/03/12/spain-look-to-overthrow-austerity/
Quote from: Armstrong
 | Spain Look to Overthrow Austerity The Spanish Podemos party believes it will end up with an absolute majority. Here too, the people are fed-up with austerity being shoved down their throat by Germany and the IMF, when they themselves are hardly the land of no debts. It looks like Spain will be the next and we see the same result rising in Italy and Portugal. |
March 12, 2015, 04:32:22 AM
Nope, but it would probably enslave Russia. Just look at what happened to the Ruble!
Incorrect! The one-world reserve currency will enslave all of the nations. Study my post #11 more carefully. You didn't comprehend it.
I suggest you relate that to "Confessions of an Economic Hitman" by John Perkins. And also relate that to the Asian crisis in 1998, which was caused by speculative international capital flows fleeing to Europe to take advantage of the ingress in investment that corresponded with the launch of the Euro.
Nations are inherently prone to short-term capital ingress and egress. Without their own central bank to inflate out of an egress crisis, they are enslaved by the unit-of-account which is imposed on them by investors.
The problem is fundamentally rooted in the ability of stored money to be a claim on future production. Instead when profitable production results from a diversity of knowledge innovations that are DIRECT (e.g. the customer uses your software, or they 3D print your design) and not just proxies diluted by mass production (e.g. factories make a million copies of your design), then stored money becomes incredibly difficult to invest. The more stored money you have, the faster it withers in relative value.
This is the paradigm shift coming on now due to the Knowledge Age.
In short, investing will become active instead of passive, and investing will be small and numerous (i.e. bottom-up) instead of large economy-of-scale fascism (i.e. top-down).
Sorry Armstrong! Storing capital in money instead of fine-grained (maximum division-of-labor) knowledge thus causing international capital flows that are the problem! That paradigm must be eliminated! We need capital flows to be instead actual finely-grained, bottom-up knowledge exchange, where capital becomes knowledge and not stored claims on future production.
Then there won't be any more nations, nor any one-world top-down slavery.
You say "no one will save and be productive"? Wrong! They will save up their knowledge gained by being productive instead of lazy! This is the paradigm shift of epic proportions and nearly no one sees it is happening.
March 12, 2015, 03:45:01 AM
Nope, but it would probably enslave Russia. Just look at what happened to the Ruble!
March 12, 2015, 03:44:13 AM
---------------------------- Original Message ----------------------------
Subject: Armstrong's hair-brained "direct democracy" idea has failed; there is only one solution
From: iamback
Date: Thu, March 12, 2015 3:49 am
To: "Armstrong Economics" <[email protected]>
--------------------------------------------------------------------------
Well Switzerland with its unique "direct democracy" (citizens can raise referendums at-will and have a popular vote) has failed to stop the DEEP STATE from instituting the plan for Global Technocracy:
http://armstrongeconomics.com/2015/03/12/switzerland-joins-nsa-is-monitoring-its-citizens/
The only solution is to make it relatively very unprofitable to finance ROI with debt. This is what the Knowledge Age will do.
I explained upthread. The one-world system will fall down into the abyss and not be able to compete. The Knowledge Age currencies will be autonomous and numerous, yet pegged to the one-world unit-of-account, but not borrowing in that account because debt won't finance knowledge production (it can only finance tangible things such as factories which are disappearing or become 0 profit activity with the Knowledge Age of 3D printing, etc).
Armstrong's proposed collectivized solutions which he will present at his hair-brained Solutions Conference are just going to lead more of the same collectivized mess. He is not proposing real solutions, rather stop-gap measures to further the collectivization of humanity which is the problem! Human nature can't be altered with organization. Even Armstrong knows this damnit! The only solution is a paradigm shift change in the technology that renders the pre-existing collectivization mode impotent and unable to continue. I have explained that solution.
Subject: Armstrong's hair-brained "direct democracy" idea has failed; there is only one solution
From: iamback
Date: Thu, March 12, 2015 3:49 am
To: "Armstrong Economics" <[email protected]>
--------------------------------------------------------------------------
Well Switzerland with its unique "direct democracy" (citizens can raise referendums at-will and have a popular vote) has failed to stop the DEEP STATE from instituting the plan for Global Technocracy:
http://armstrongeconomics.com/2015/03/12/switzerland-joins-nsa-is-monitoring-its-citizens/
Quote
The Swiss have now introduced the Enlightenment Intelligence Agencies Act which expands the powers of government to secretly track citizens, tap phones, and to do so even if the person is not actually charged with a crime. One by one, every country seems to be turning to Stalinist type tactics and are obsessed with what are their citicens thinking.
Connecting the dots, what is starting to emerge is a bleak picture that those in bureaucratic government know the financial system will collapse thanks to socialism they cannot maintain. Between promises to the people and pensions that are unfunded, the day of reckoning seems to be understood quietly behind the curtain. There is just no other reason to track the movement of every car and every person storing every phone call, text message, and email. What are they so paranoid about? It is always one thing – losing power.
It appears that those deep in the bowels of government are preparing to take society as a whole into authoritarianism all the way to maintain power by force. Europe has already dismissed democratic elections. Brussels has told Greece pay up, they do not care about what the Greek people want. The same in Spain. They rigged the elections in Italy and Scotland. Everywhere we look there is something wrong and it appears they are tightening the shutters getting ready for the economic storm to hit.
What the future holds with government is becoming dark and sinister for it is all about them sustaining control. This seems to be the classic battle between government maintaining power and the people demanding freedom. This is the real battle of history. This can go either way. But it appears we will reach that crossroads all because of greed, corruption, and a financial system that nobody in their right mind would have designed.
There is ONLY one solution to the crisis on the horizon. We will look at this in detail at the Solution Conference. This will be a live stream even on the internet worldwide. We have to deal with the collapsing economy for therein lies our entire fate as a society.
Connecting the dots, what is starting to emerge is a bleak picture that those in bureaucratic government know the financial system will collapse thanks to socialism they cannot maintain. Between promises to the people and pensions that are unfunded, the day of reckoning seems to be understood quietly behind the curtain. There is just no other reason to track the movement of every car and every person storing every phone call, text message, and email. What are they so paranoid about? It is always one thing – losing power.
It appears that those deep in the bowels of government are preparing to take society as a whole into authoritarianism all the way to maintain power by force. Europe has already dismissed democratic elections. Brussels has told Greece pay up, they do not care about what the Greek people want. The same in Spain. They rigged the elections in Italy and Scotland. Everywhere we look there is something wrong and it appears they are tightening the shutters getting ready for the economic storm to hit.
What the future holds with government is becoming dark and sinister for it is all about them sustaining control. This seems to be the classic battle between government maintaining power and the people demanding freedom. This is the real battle of history. This can go either way. But it appears we will reach that crossroads all because of greed, corruption, and a financial system that nobody in their right mind would have designed.
There is ONLY one solution to the crisis on the horizon. We will look at this in detail at the Solution Conference. This will be a live stream even on the internet worldwide. We have to deal with the collapsing economy for therein lies our entire fate as a society.
The only solution is to make it relatively very unprofitable to finance ROI with debt. This is what the Knowledge Age will do.
I explained upthread. The one-world system will fall down into the abyss and not be able to compete. The Knowledge Age currencies will be autonomous and numerous, yet pegged to the one-world unit-of-account, but not borrowing in that account because debt won't finance knowledge production (it can only finance tangible things such as factories which are disappearing or become 0 profit activity with the Knowledge Age of 3D printing, etc).
Armstrong's proposed collectivized solutions which he will present at his hair-brained Solutions Conference are just going to lead more of the same collectivized mess. He is not proposing real solutions, rather stop-gap measures to further the collectivization of humanity which is the problem! Human nature can't be altered with organization. Even Armstrong knows this damnit! The only solution is a paradigm shift change in the technology that renders the pre-existing collectivization mode impotent and unable to continue. I have explained that solution.
March 12, 2015, 02:00:33 AM
...
iamback is doing us all a great service by raising uncomfortable issues. The ideas are also complex and require a lot of background reading, which will dissuade many...
Martin Armstrong is starting to grow on me, I had read various of his pieces that he wrote while imprisoned. He raises topics and refutes others in a way I have not read elsewhere.
And NO ONE can accuse Armstrong of not being brave. He suffered in prison, and just came out with a nice refutation of one of the grandest of all the conspiracy theories. No, the Rothschilds do not own it all.
http://armstrongeconomics.com/2015/03/11/rothschilds-fact-or-disinformation-to-protect-the-guilty/
* * *
A true story! By chance my wife met a Rothschild in London back in the late 1970s. Mr. Rothschild lived near to the family where she was living (as an au-pair). An elderly man tipped his hat and smiled at her one day. She went inside and informed the lady of the house what had happened, she thought he was some dirty old man trying to pick her up...
Mrs. D told her: "Oh, that was Mr. Rothschild, I hope you were polite to him."
The girl who went on the become my wife asked: "Who is Mr. Rothschild?"
Mrs. D: "Why, he is one of the richest men in the world..."
iamback is doing us all a great service by raising uncomfortable issues. The ideas are also complex and require a lot of background reading, which will dissuade many...
Martin Armstrong is starting to grow on me, I had read various of his pieces that he wrote while imprisoned. He raises topics and refutes others in a way I have not read elsewhere.
And NO ONE can accuse Armstrong of not being brave. He suffered in prison, and just came out with a nice refutation of one of the grandest of all the conspiracy theories. No, the Rothschilds do not own it all.
http://armstrongeconomics.com/2015/03/11/rothschilds-fact-or-disinformation-to-protect-the-guilty/
* * *
A true story! By chance my wife met a Rothschild in London back in the late 1970s. Mr. Rothschild lived near to the family where she was living (as an au-pair). An elderly man tipped his hat and smiled at her one day. She went inside and informed the lady of the house what had happened, she thought he was some dirty old man trying to pick her up...
Mrs. D told her: "Oh, that was Mr. Rothschild, I hope you were polite to him."
The girl who went on the become my wife asked: "Who is Mr. Rothschild?"
Mrs. D: "Why, he is one of the richest men in the world..."
March 11, 2015, 11:53:47 PM
Look, no one is forcing you to use bitcoin or anything else.
Obviously you have not even read nor comprehended the thread. No where did I write that crypto-currency was not part of the solution. In fact, I wrote the opposite, stating the crypto-currency is part of the Knowledge Age solution.
The biggest question is, why does it matter? Why does it matter if the elite has an agenda? Why does it matter if someone wants to create a world currency? If you believe that having a world currency is bad, then you can talk about that, don't bring in the illumati or Armstrong or central banks; what they want is completely irrelevant to whether something is good or not.
From a futurist standpoint, we are currently at a 0.7-0.8 on the Kardashev scale. A type I civilization would be completely global, controling the power of the entire planet. For humanity to have a large chance of succeeding, we need to go beyond a type I civilization. According to Michio Kaku, we already have some signs of a type I civilization's culture, a global language (i.e english), global communications system (i.e internet), and I would argue that a global currency is the next logical step towards achieving type I status.
March 11, 2015, 11:46:28 PM
Armstrong has no answer to my challenge. He goes back to his repetitive theme of blaming the problem on bureaucrats and his hair-brained idea of "direct democracy" as a solution. Voting (politics) is never a solution and can always be subverted by the human nature of collectivism.
http://armstrongeconomics.com/2015/03/11/german-and-spanish-key-banks-fail-us-stress-tests/
http://armstrongeconomics.com/2015/03/11/german-and-spanish-key-banks-fail-us-stress-tests/
Quote from: Armstrong
This is just becoming a total mess and above all, we really cannot afford perople calling the shots who have zero practical experience beyond making their family members rich on the side.
March 11, 2015, 11:32:36 PM
Look, no one is forcing you to use bitcoin or anything else.
Obviously you have not even read nor comprehended the thread. No where did I write that crypto-currency was not part of the solution. In fact, I wrote the opposite, stating the crypto-currency is part of the Knowledge Age solution.
March 11, 2015, 11:29:38 PM
The money banks create goes by default into other banks. Thus even if the bank does not attract deposits they can borrow money from their neighbor banks. This is not free and the cost to do this is artificially set (in the US) by the FED. It is this cost that is the true limiting factor on how much money a bank can create.
This interbank lending rate is called the Federal Funds Rate.
Nothing prevents Coinbase from doing fractional reserve off chain lending. The underlying asset cryptocurrency, however, is fixed and limited in supply. Thusif when Coinbase starts doing this it will be operating much like the fractional reserve banking system did when we were on a gold standard.
The key to understanding the scam is the realization that bank lending is not limited by their deposits. Rather they create they money and in the process debase/devalue the currency of everyone else.
This interbank lending rate is called the Federal Funds Rate.
Nothing prevents Coinbase from doing fractional reserve off chain lending. The underlying asset cryptocurrency, however, is fixed and limited in supply. Thus
The key to understanding the scam is the realization that bank lending is not limited by their deposits. Rather they create they money and in the process debase/devalue the currency of everyone else.
Correct if there is no Central Bank to print more fractional reserve receipts to bailout bank runs, then the banks fail from fractional reserve lending (which creates money out of thin air). The scam of Central Banking is the people agree to collectivize the debasement over the entire banking and financial system. This delays the defaults (in our case for the past 80+ years), which ends up making the default a global abyss of epic proportions as what we will see over the next 7 years starting 2015.75.
The reason we ended up with a Central Bank in the USA in 1913, was because the monetary system was so dysfunctional towards the end of the 19th century, we were having bank runs and depressions often.
Fractional reserve banking is a natural free market result. It can't be stopped with regulation (because the political system will always be captured by the banksters).
The only solution is the one I am writing about in my new thread:
https://bitcointalksearch.org/topic/one-world-reserve-currency-inevitable-and-will-enslave-all-nations-985481
As usual, I don't expect most readers to understand my point.
March 11, 2015, 11:28:53 PM
Man, what's with all these conspiracy theorists popping up these days? It's ruining the forum.
Look, no one is forcing you to use bitcoin or anything else. If you think it brings you benefit, use it, if not, don't. Why does it matter who created it? Why does it matter if this made-up 'illumati" created it, if it clearly brings benefit to the people? Conversely, even if some really well-meaning people created policies that are horrible, then we shouldn't use it.
Evaluate policies/technologies by themselves, don't evaluate it based on who created it. Why does it even matter if the creator gains a larger benefit than you, if you can gain benefit from it?
If you think that no matter what you do, you're just a powerless slave to the elite, then just go commit suicide or something. Lol.
Look, no one is forcing you to use bitcoin or anything else. If you think it brings you benefit, use it, if not, don't. Why does it matter who created it? Why does it matter if this made-up 'illumati" created it, if it clearly brings benefit to the people? Conversely, even if some really well-meaning people created policies that are horrible, then we shouldn't use it.
Evaluate policies/technologies by themselves, don't evaluate it based on who created it. Why does it even matter if the creator gains a larger benefit than you, if you can gain benefit from it?
If you think that no matter what you do, you're just a powerless slave to the elite, then just go commit suicide or something. Lol.
March 11, 2015, 11:05:41 PM
And here is Mikes solution.
https://www.youtube.com/watch?v=ijwcDMf1HFs&list=UUThv5tYUVaG4ZPA3p6EXZbQ
https://www.youtube.com/watch?v=ijwcDMf1HFs&list=UUThv5tYUVaG4ZPA3p6EXZbQ
Maloney explains some of what I wrote about in this thread.
Maloney in this video is also astute (but the second guy is a tinfoil hat...is that dufus Ed Steer from Doug CaseyResearch.com):
https://www.youtube.com/watch?v=_KJTtY5im1o&index=36&list=UUThv5tYUVaG4ZPA3p6EXZbQ
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