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Showing posts with label financial system. Show all posts
Showing posts with label financial system. Show all posts

Wednesday, April 19, 2017

MIT Professor believes Bitcoin or other crypto-currencies could save financial system

The original idea and concept of Bitcoin was to create a de-centralized form of currency that could not be manipulated, devalued, or financialized by governments or central banks who throughout history have used the power to print money as the means to accumulate wealth and power at the highest levels.  And indeed, the very nature of the world's most current fiat monetary construct has done just that as less than 20 individuals hold more wealth than half the world's population.

This is why gold and silver are and were so important in the past because left to their own devices, they provided individuals, communities, and even nations a stable and often un-inflationary form of money that not only grew productivity, but kept a check on corrupt governments until they seized the power to either 'clip', or replace gold and silver outright.

But in the 21st century the world is rushing headlong into a new paradigm of digital money, and at stake is the age old battle over who controls the ability to 'print' that money.  And according to a Professor at MIT, the advent of Bitcoin or some other decentralized crypto-currency could be the answer to both improving and perhaps even saving the financial system.

Image result for bitcoin can save the financial system
Simon Johnson, a professor at MIT’s Sloan School of Management, says some form of digital currency could fundamentally improve the financial system.
“How do you feel about the way that our existing financial system operates?” Johnson asked the audience at the Business of Blockchain conference, an event organized by MIT Technology Review. “I myself have a lot of concerns. The system we have is not robust—it almost collapsed in the fall of 2008 in the United States, the most sophisticated financial market in the world.” 
In theory, a cryptocurrency such as Bitcoin might make the financial system more stable by providing a way to monitor and trace transactions. Indeed, it may be no coincidence that the paper outlining the concept for Bitcoin was released in 2008, during the financial meltdown. The open-source code for the currency was released several months later, in 2009. Bitcoin was invented by the pseudonymous Satoshi Nakamoto, whose identity remains a subject of great speculation. 
Cryptocurrencies might also remove many of the hurdles that make it harder for poorer people to use the financial system, even in advanced countries, Johnson said: “It is absolutely shameful and really embarrassing that so many people in the United States—one of the richest counties in the history of the world—do not participate in the formal financial system." - Technology Review
In reality a completely Bitcoin based financial system would not be feasible as the 21 million total bitcoins ever to be mined would not fully support both a government and consumer's needs for over 200 countries.  However, a combination of an international trade currency, which would be designated for use by banks and governments only, coupled with a crypto-currency like Bitcoin for use by consumers and businesses that would not be allowed to be traded in financial markets, could solve many of the inefficiencies and corruptions that inevitably spawn over time from the use of a singular form of money.

As former President Calvin Coolidge once said, "The business of America is business", but what he really should have meant was that the government has no place in interfering with business and free markets.  And in a free market, money is determined to be what consumers and producers agree for it to be, and without interference from corrupt men and women who control the means of its production.

Tuesday, April 4, 2017

Mexico working on legislation to legitimize Bitcoin as a digital asset and open it up for pension funds

Last week we showed how two Eastern governments were planning to deal with the question of Bitcoin, with one banning it outright and the other looking to integrate it into their monetary system.  Now on March 23 we have a third sovereign government debating the merits of Bitcoin, only in this case the discussion is on how to define the crypto-currency, and then facilitate its use in their financial system that could include acting as an asset holding for pension funds.

The first draft of this financial technology law was presented by the Secretary of Credit and Public Finance of Mexico, Jose Antonio Meade, in the 80th Mexican Banking Association Convention, held in Acapulco on March 23. In accordance with this law, the central bank will define the regulation that applies to digital assets such as Bitcoin. 
This new regulation is part of the National Policy for Financial Inclusion presented by the President of Mexico on June 21, 2016. One of the axes of the policy focuses on the utilization of technological innovations to provide financial services. The government is recognizing how the technological advances have transformed the manner in which people in several industries operate, including the financial sector. It is an official priority of the state to foster the application of technological innovations to reduce the cost of financial services and widen its use among the population. 
BC: What does the bill say about Bitcoin? 
SC: The central bank will define what a ‘digital asset’ is by following basically two criteria. The first criteria is the widespread adoption by the public (high market cap) and the second is the protocols, rules, and mechanisms that allow generation, identification, division and control the replication of such units of account. 
Basically, we are talking about a currency that uses a consensus mechanism and blockchain approved by the Bank of Mexico. 
Persons (including miners) with digital assets, who do not perform operations on behalf of others, are not required to obtain authorization from regulators and can use digital assets in their daily commerce. 
The most important criteria [for a digital asset] will be that the underlying technology is sound and there is widespread adoption by the public or industry. 
The government’s goals are to transit to a digital economy, reduce or eliminate the use of physical cash, make the taxation process more efficient and transparent, create a mechanism to automate regulation/auditing and supervision tasks, expand the coverage of high quality and affordable financial services and more. - Bitcoin News

Sunday, March 5, 2017

RMB internationalization could soon get major boost as desperate EU looks to bail out financial system with Yuan bonds

After a modicum of success in expanding the RMB's use outside of China when their currency became accepted into the IMF's SDR basket of currencies last year, the Yuan has since seen a slowdown for internationalization due in part from capital controls they instituted to try to restrict a growing occurrence of capital flight.  But in an interview given on March 5 by the head of the European Stability Mechanism (ESM), that may soon be changing as the financial body responsible for protecting the stability of the Eurozone suggested that the next round of 'Quantitative Easing' may involve bonds denominated in Yuan as the foundation for bailing out banks and other financial institutions.

The head of the organization charged with safeguarding financial stability in the eurozone said he does not rule out issuing Chinese yuan-denominated bonds to fund the rescue of European nations and institutions. 
"[Issuing European Stability Mechanism bonds in yuan] is possible," Klaus Regling, managing director of the ESM, said in a recent interview with the Nikkei Asian Review. He said the institution was preparing to issue dollar-denominated bonds in the fourth quarter of this year -- the ESM's first non-euro bond issuance -- but added that other currencies remained an option. 
"We are legally allowed to issue in all currencies," he said. "As a young institution, it is a big step to do our first non-euro issue ... and it seems to make sense from the market side to start with the U.S. dollar. But it is entirely possible that we move into other currencies that are attractive from the market side." - Asia.Nikkei
The European Stability Mechanism (ESM) is Europe's equivalent of the U.S.'s Exchange Stabilization Fund (ESF) in that it acts as a neutral party, able to step in and fill any monetary needs for the financial system.

If the EU is now looking towards the Chinese Yuan as a much better asset and currency to sell to fund and bailout European financial institutions in the future, then this will go an extraordinarily long way in fulfilling China's goal of internationalizing the Yuan, and moving it towards becoming an equal shareholder with the dollar as one of the world's primary reserve currencies.

Wednesday, July 20, 2016

This could be the greatest time in history to own or invest in gold

For the most part, gold has not been seen as a pure investment over time because in the annals of history, it had been primarily owned and controlled by governments who used the metal as money in most societies.  In fact, people easily had access to gold, or through their gold backed paper currencies, and used it for purchasing things rather than as a wealth protector, or as an investment.

But when the world went completely off the gold standard in 1971, the monetary properties of gold changed.  And 45 years later, one analyst believes that right now could be the greatest time in history to own and invest in gold because the financial system has never been in a worse place than it is today, and the world is about to enter what will be known as the era of perpetual bonds.

I’ll dare to suggest this is the greatest time in history to own gold, and not because it is going “vastly higher”. It’s because gold now has more institutional respect than it has in decades. 
“Perpetual Bond Thunder” is the new gold price driver in play, and it has the potential to influence major markets for many years into the future. 
Japan may lead the world with a sizable launch of perpetual bonds that feature no interest rate and no maturity date. 
Ben Bernanke is probably the biggest money printer in the history of America. He is now working hard to convince Japan to lead the world with a huge launch of perpetual bonds. 
It’s a scheme to monetize the huge Japanese government deficit. 
Perpetual bonds are known as “perps” amongst institutional money managers. If they are used in the manner suggested by Ben Bernanke and other top bank economists, they have the potential to allow Western governments to continue to operate huge fiscal deficits, with the only cost of running those deficits being the “minor inconvenience” of destroying the purchasing power of most fiat currencies. - Stewart Thompson of Graceland via Silver Doctors

Wednesday, July 6, 2016

As Western central banks mull over new QE programs within the status quo, Russia and China discuss a new monetary system

Over the weekend, well known author and economic analyst Willem Middelkoop sent out an email regarding some insider information he received about a meeting between Russian and Chinese leaders where they discussed ending dollar hegemony, and cultivating the establishment of a new financial order.  This meeting, and its main thesis, is occurring at the same time that Western financial institutions in both Italy and Germany teeter on collapse, and central banks in the U.S. and Europe mull over new Quantitative Easing (QE) programs to put a band-aid on a dying status quo system.

dollar-death

Larry,
Brexit can be seen as part of a world wide revolt against the establishment, which gave us the British and American empire (together with a few dozen wars).
People are ‘Fed’ up with elites and their game plans (EU being one of them). Desintegration of EU has started now. Had to happen anyway. But I am afraid of the other unintented consequences.
Sure, insiders know this debt fueled growth model can’t go on forever. Stating this in the past was a step out of the official ‘party line’. But without anymore QE the whole system (house of cards) will simply start to collapse.
I will be waiting for insiders to start calling for Debt Restructurings and moves towards creating much more SDR-liquity to know real changes are being prepared.
Until that point more of the same is to expected. But more QE and ever lower rates will increase the flight to gold, which could lead to a paper-gold-default (and silver) on the COMEX (Chicago) and/or LBMA (London) exchanges/systems.
On a side note; Russia and Chinese leaders met twice during last week and called (again) for an end to the current (dollar) system.From my contacts with Chinese insiders I know they really understand our problems well and are clearly preparing for The Next Phase (a monetary and geopolitical reset) (note: bold emphasis is mine)
Time has come to become very defensive now. A new worldwide financial and political crisis could just have been started. When Trump will be elected it’s time for the real fire works. It will be the American equivalent of a Brexit. A huge shift from the political past.

Read more on this article here...

Friday, March 4, 2016

Bitcoin: first they ignore you… then you win

The great civil rights activist Mahatma Ghandi once said, first they ignore you, then they laugh at you, then they fight you, then you win.  And for the Bitcoin community, the day of capitulation by the banks may have finally arrived as a new report out shows that 40 of the world’s top financial institutions are deep into research to use the blockchain technology that underwrites the Bitcoin currency.
And perhaps most ironic in these revelations is the fact that for several years, banks have been vilifying Bitcoin and trying to use every means possible to deter or destroy its use in the global financial system.

Monday, January 18, 2016

Margin calls and meltdown: The collapse is occurring right now

On Monday, Nomi Prins issued her own declaration that the economic collapse is occurring right now in 2016 with what she says are 'many' depressionary environments already taking place in countries around the world.  In particular, Brazil has cancelled its annual sacred Carnival Festival, and Qatar just yesterday experienced a complete meltdown of their markets.



And in a validation of Nomi's analysis, Bill Holter contacted the SGT Report on Jan. 17 to put on an interview to discuss the fact that the entire financial system is under the duress of a major margin call, and that an economic meltdown is as well underway at this moment.

Friday, October 30, 2015

Russian parliament approves Damocles Sword to confiscate Western assets if necessary

When the U.S. issued sanctions against Russia in early 2014, they did so without international approval, and without a resolution from the United Nations.  In essence, the Obama administration used the dollar as an economic weapon against the Eurasian power in response to their taking the Crimea after the U.S. backed rebels unlawfully overthrew the government in Ukraine.
However, in addition to these sanctions were pressures the U.S. placed on their allies and on their vassal states in Europe and the Far East, making the sanctions a full fledged proxy war that held European businesses stuck in the middle.
And as the economic sanctions on Russia near their third year in play, on Oct. 29, Russia’s upper chamber of their legislature approved a new bill that would make it legal for the government to confiscate foreign assets held within the country.

Monday, September 7, 2015

Got Karatbars? As the elite dump their paper assets in the market are you prepared for the coming changes?

The mainstream media and business talking heads want to spin the recent 10% decline in the stock markets as simply a correction or natural market force.  But in reality, equities are performing exactly as they did between 2007 and 2008 just prior to the great October crash that led to the Great Recession.  And despite the Federal Reserve's attempts to project calm and confidence into the economy, the sad fact is that for the common man, you will never get the true picture of what is coming until its too late.

And while our mainstream financial sources won't give us the necessary news of what is coming, the insiders and elite already know, and they are the ones primarily selling because what is coming is not just another cyclical downturn, but a paradigm shift that will change the financial system completely.

As I discussed the other day, the only way that you make money in the stock market is if you get out in time.  The elite understand this very well, and that is why they have been dumping stocks for months.  This is something that has even been reported in the mainstream news.  For example, this comes from a CNBC article that was published on June 16th
The so-called smart money is pulling back from market risk, with fund managers taking down exposure to stocks, increasing cash holdings and buying protection against a sharp selloff.
About two weeks before that, I discussed the same phenomenon on my website.  The article that I published on May 30th was entitled “Why Is The Smart Money Suddenly Getting Out Of Stocks And Real Estate?
Did the “smart money” know what was about to happen?  Since the peak of the market, the Dow has already lost more than 2200 points.  All of the gains since the end of the 2013 calendar year have already been completely wiped out.
And of course the truth is that you didn’t really need any inside information to see that it was time to get out.  I have been warning my readers for months about what was coming.  The signs have been clear as a bell if you were willing to look at them.  Just consider the following excerpt from a recent piece by Michael Pento
Earlier in the year margin debt had risen over $30 billion or 6.5% to $507 billion and was equal to a record 2.87% of U.S. GDP. This surpasses the previous all-time high of 2.78% set in March 2000 - the top of the last largest stock market bubble in history.
And despite the assurance of every mutual fund manager on TV that they have boatloads of cash ready to deploy at these “discounted” levels, in early August cash levels at mutual funds sank to their lowest level in history, 3.2% (see chart below). As a percentage of stock market capitalization, fund cash levels are also nearing the record low set in 2000 when the NASDAQ peaked and subsequently crashed by around 80%.
The financial markets are absolutely primed for a major crash, and when that happens many among the elite will be hightailing it to the middle of nowhere. - The Economic Collapse Blog
So this begs the question... are you prepared as the insiders are?  And if not, how can you prepare to supplement your dollar based paper investments with an asset that is protected not only from confiscation and devaluation, but is the only thing that is capable of transitioning into all potential shifts the global financial system could take?

That answer to being prepared lies in Karatbars




Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, you can have the power to move your money into a free e-wallet that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.



The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.

Friday, January 6, 2012

Ann Barnhardt reports the Fiancial System is ready to topple

Commodities broker Ann Barnhardt spoke recently with investment strategist Jim Puplava on the state of the financial system in the after-effects of MF Global.  Ann intoned that the entire system is teetering on the brink, and is a house of cards ready to topple.

You can listen to the entire interview by going to Financial Sense.

Monday, October 24, 2011

David Icke gives important information to the Occupy movement protesters

Davd Icke has put together a video interview asking the important question of Occupy Wall Street protesters.  Do you know what you are protesting for or against?

The Occupy movements, which have been growing around the country after the initial Occupy Wall Street protests began, have exceedingly culminated in one unanswered question.  What is the purpose of the protest?

Many protesters who have been asked by the media cannot, and have not given a real, viable answer as to why they are there.

So David Icke has created this to try and help Occupy Wall Street, and any other protesters of our current financial system, to understanding who exactly is the enemy, and what the end goal purpose should be for taking the time to rant against the machine.

Thursday, October 20, 2011

Cash is no longer king... at least in Louisiana

Money is an article based on confidence, and our government and Federal Reserve pull out all the stops to try to ensure to Americans, and the world that the dollar is still worth its value.  However, in the state of Louisiana, the actual dollar bill no longer a viable currency to be used in second hand transactions, and cash is no longer king.

House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions, and it flew so far under the radar most businesses don't even know about it.
 "We're gonna lose a lot of business," says Danny Guidry, who owns the Pioneer Trading Post in Lafayette. He deals in buying and selling unique second hand items.
 "We don't want this cash transaction to be taken away from us. It's an everyday transaction," Guidry explains.
 Guidry says, "I think everyone in this business once they find out about it. They're will definitely be a lot of uproar."
 The law states those who buy or sell second hand goods are prohibited from using cash. State representative Rickey Hardy co-authored the bill.
 Hardy says, "they give a check or a cashiers money order, or electronic one of those three mechanisms is used."
 Hardy says the bill is targeted at criminals who steal anything from copper to televisions, and sell them for a quick buck. Having a paper trail will make it easier for law enforcement.
 "It's a mechanism to be used so the police department has something to go on and have a lead," explains Hardy. - KLFY.com

The Daily Economist is going to make its own speculation on this new law.  As people begin to lose trust in banks and the solvency of the financial system, more and more people will be seeking purchases or barter without the government putting their hands into their business, for recording or taxation purposes.
The economic crisis wasn't created by the people, but by the banks and government agencies.  Now the government of Louisiana doesn't want to own up to who is responsible, and instead will implement draconian laws on the people of the state for simply spending the valid and recognized currency of the country.