Is BitCoin a Bit of a Con?

What is interesting about Bitcoin is it has been a 'proof of concept' and the concept is now fundamentally proven. So what is next? As with the emergence of the WWW there was this 'eye of the storm' period when, for a while, the systems were in place and nothing much occurred. Then came the DOTCOM bubble. From the ashes today's enduring players arose: formed and consolidated. It appeared to me that nothing much was initially happening because nobody wanted to deal with companies and brands they had no historical knowledge of in the bricks-and-mortar world. Once these friendly faces emerged people went on-line and started shopping with them and soon also with a few notable internet born exceptions: Google, Facebook, Amazon and eBay.  I recall Amazon was 'the one' - the big newcomer ground breaker.

Bitcoin has been victim of its optimistic supporters in so much as people have speculatively invested in Bitcoins whereas that is not its real purpose. It is first and foremost supposed to be a means of exchange - that is its strength. But as a means of exchange it has not started to be truly useful. I cannot see making my larger payments say from UKP to JPY is really helped by using Bitcoin as the mechanism of transfer. It needs me to hold funds as Bitcoin and sellers to want to do the same and that is a long way off. It is an unknown and subject to sharp value fluctuations.

Now if the IMF came up with a son-of-Bitcoin that was indelibly tethered to their SDR basket of currencies the day of the digital coin would happen immediately. And if every major bank offered access to the same service too: people would start doing business. This I predict is what is going to happen.

Now all that is fine and dandy but the Bitcoin has one more feature that I presume could not be the case with an IMF-SDR digital-coin which is: Bitcoin is not a fiat currency - there is a finite volume of possible Bitcoin algorithms - so Bitcoin will tend to grow in value if and when its uptake becomes more prevalent - be pro-rata deflationary with growing usage.

The people who understand this make the bulk of the speculative investors today and they have at least 'keep the wheels on the wagon' to this point in time. Bitcoin's potential growth in value yet to come is roughly (optimistically) equated to the value of all the fiat money in the world today.

Will it happen. I think not. There may be a limited volume of Bitcoin's possible to produce but there is no limit to the introduction of other technically comparable digital-coins that could share the supposed same deflationary quality (limited volume). So the idea of a limited volume is not really correct.

I predict there is a place for Bitcoin as an early market leader, an established brand, but it will be joined by a plethora of digital-coins backed by known brands and entities, including maybe even digital versions of existing national currencies, a PayPalPunt, an AmazonAmericano, an AppleSeed and the soon to be popular RothschildRenminbi. The water could become very muddy.

The only survivor could be the 'block-chain' which manages the Bitcoin records amongst other tasks too. But since the block chain is the keys to recording every financial transaction conducted I am very doubtful of its continued independence. I think the UN will claim that crown as the corner-stone to its new global tax regime. Then we can start to understand what may lay behind this anonymous experiment as has been similarly suspected of apparent 'new start' IT providers throughout the history of the digital revolution.

See also: Forming the SDR Global Monitary & Political Union

Forming the SDR Global Monitary & Political Union

The drive toward a centrally issued single global currency appears to be a long desired outcome of the banking elites who substantially own, control and benefit from the central banking network about the world. 

As seen with the incantation of the EU, originally sold to the plebiscite as a trading union, the launch of the EURO single currency was widely understood to be unsustainable without the simultaneous total political and economic integration of the disparate independent nation member states.  This obviously intentional outcome was endlessly scoffed-at and robust derided but the conclusion, now it is upon us, is simple: the creation of the EURO was either implemented by utter ignorant fools or it was a covertly intentional device used to force the amalgamation of the independent European nations into a Greater Europe.

With Europe as the template moves are clearly under-way to enact the same set of circumstances in the forming of a North America political and monetary union and then undoubtedly further regional trade unions will be subjected to similar drives towards their forming political unions too.

It appears that simultaneous to that momentum the SDR mechanism will gain significance apparently with the objective of developing the SRD value into more than a IMF and central bankers device by allowing transactions to be conducted between parties in SDR values without need to exchange into any other of the root currency when making settlement.  No doubt when an SDR currency becomes established the demand will then be for, step two, the currencies included in the 'pot' to peg their individual rate to a given value.

The effect of this SDR based currency will be to draw the major currencies, and the separate sovereign economic states from which they emanate, into the same eventual and inevitable trap as that which the previously independent nation states of Europe were enticed.  So I conclude that it will be greatly as a result of this growing global monetary union from which a growing global economic and subsequently global political union will also be demanded and formed.

When rarely questioned, the political momentum behind this open conspiracy is justified and explained as the ambition to raise-up the poorer economies of nations across the world to parity and to bring about the end of war between separate sovereign nation states.  On the surface that may be so but at what cost?

The cost will be the lack of competition between states.  When each country has to vie in the 'market' against each other to offer the best environment for a flourishing social and economic condition, nations that make bad choices pay the price and learn from nations that do well and thrive.  People and business are drawn to the more liberal and successful nations leaving the tardy nations one simple option: change for the better.

The international central banking establishment is not the property of the nation states or their populous.  The mechanism behind the issue of money is the state-dependent corporate (read neo-feudal) and so clearly, at some level, all actually privately owned.  Issuing money is a vastly profitable enterprise and inflation adds a further cost to the use of money to the people who have it as any-sort of measure or store of wealth.

There is no better means for the enslavement of the people: all encompassing yet covert.  The banker's tribute is gathered by 'the state' by way of taxation to pay interest on debt and by way of the perpetuation of the system of 'the state' for their continued control and gain. Whilst money is monopolised in any way by 'the state' there will always be the propensity for this ultimate and fundamental tool to be usurped and used to profit against the interests of the population and for dictatorial control.

The Generation of a Generation's Debt.

The problem is the bankers have their losses underwritten by taxpayers. There will always be imprudent lending decisions whilst bankers usurp the authority of the state in this way.  If bankers did not have this safety net would they have lent anything to Greece in the first place - of cause not.

And this is far from over. Once all the world's banking systems and nations are fully propped-up with debt, interest rates will start to rise to the point that then the only payments will be interest, never making inroads onto the capital sum. The state is used to milk the taxpayer to meet the banker's never-ending interest charges for debts they created in the first place by vast imprudent lending.

And yet where does the money these international bankers lend come from. How come they have reserves so colossal they can make loans the major nations of the world cannot put-together themselves?
It is that these international bankers control almost all the world's central banks (not Syria's or Iran's though surprise surprise) so they actually are the ones 'creating' the money. These 'privately' operated central banks use the ability that should belong to the nation states of people of the world and then lend that money they create for nothing at interest paid to themselves.

It is a sick system that is constantly draining the abundance of the world away from humanity and perpetuating poverty instead.

The only good thing is usually the bulk of this sort of debt is generated by war.

Mirrors and Smoke: DSK reflections and a gentle roasting

The mirror is the story that DSK raped a chamber maid; a mirror because his sexual habits are clearly his known, predisposed, weakness. (No doubt all those in such positions of power have dark secrets, known before their appointments, which then can be used to control and ruin them should they start to trample upon the labyrinth).

The smoke is, once the likelihood of a set-up looked probable, a diversion must be presented for why. Certainly Sarkozy would be happy to kiss DSK adieu and even help to put him down for reasons of his own political motivation. But it goes deeper than that. After all the French knows well that Sarkozy is more pro-Americal than the Statue of Liberty.

DSK did not ‘forget’ his phone. He left his phone because he was told intelligence services were planning to arrest him and were tracking him via this phone. He subsequently called the hotel from the aircraft to ask for the phone to be sent-on and was so then found and arrested.

DSK’s sins may be many but that for which he is paying the price is more likely to do with the threat to the hegemony of US dollar he posed than spoiling Sarkozy’s election prospects.

DSK was a strong advocate of launching an IMF issued Special Drawing Rights (SDR) based currency to replace the US Dollar as the primary global means of exchange. And DSK was highly critical of US economic policy and deeply questions of the resilience behind the Dollar; especially demanding an audit of the Federal Reserve and questioning if indeed any gold actually remains in Fort Knox.

The globalist’s agenda may well include the formation of a single world currency but that does not mean that those who are enjoying the control of the US Dollar are ready for that yet or were sufficiently in control of a new global SDR based currency to be prepared to yield to that just yet.

Conjecture?  Yes.  But then so is the alleged assault and so is the notion this was politicly motivate by French national political adversaries.  So take the pieces and decide for yourself which way do they look to fit together best?

Why We Should Keep Our Bank Cheque Books

Cheques are a powerful tool.  They enable 'people', non-banking enteritis or non-states, to 'create' money - just on the power the note/cheque promises to fulfil.  If someone you trust enough offers you a 'post-dated' cheque you prospectively will accept it; if that is in your interest.  This could be done with a simple letter - effectively a promissory note - but with a cheque the simple mechanism is in place to easily realise the money - pay in into your bank and draw cash - whenever the date and payee name is valid.

In theory people could use trusted 'open' cheques (with no payee named and maybe undated) to trade and barter without paying the cheque into a bank, just so long as the cheque's issuer is trusted by each party who in turn accept it (effectively a demand promissory note). This indeed once happened with counter-signed Banker's Drafts, they would often change hands until banks started to refuse to accept the counter signing as valid (on grounds of fraud prevention) and now do not issue drafts at all.

If the next step of government is to remove 'cash' from society and use various auditable and identifiable means of electronic payment devices in its place, that is all fine-and-dandy apart from for the black economy - transactions that are done 'for cash'.

With the advent of 'digital cash' what will replace paper-money/cash in the black economy?  Gold?  Bags of dope?  Signed cheques from enteritis who have an established creditworthiness (trust) in the public mind?

Call me suspicious because I do suspect there is an underside to this motion: to end the use of cheques. And I suspect my synopsis above is not so far from that truth; that it is all about making people find tax-avoidance progressively harder to carry-out. (and bank cashless-transaction charges no doubt).

See: Promissory note - From Wikipedia

See: Bills of Exchange Act 1882

An example of a 'trusted open note/cheque' would be shopping vouchers for say Tesco or Waitrose, postage stamps, etc. I would accept a few of those right now.

But we can only replace cheques if we still are 'allowed' - by the state - to have cash! 
See: Is a cashless society on the cards?

On the other hand; the people will do much better to revert to our own form of currency.  Since our money already is not actually issued by government at all; it is all raised through the banking system and is 'taxed' therefore by interest charges and inflation (a 'tax' that goes directly to the issuing bank).

Gold is one option for underpinning state-free currency.  Any number of trusted gold investment companies can sell paper notes (cash) which can be simply exchanged for real-gold - just like the old days - you can pay me with those!

But the gold market is still vulnerable to manipulation since the self-same bankers who create the money today also keep their wealth in gold and control the gold market.

Paper promise notes could replace this that simply represent one hour of work.  A Doctor may charge ten units for one hour of medical advice, a night watchman may charge half a unit per hour for sitting keeping an eye open.

An employer will pay staff with notes issued by a trusted issuer of notes that most people and companies will accept.

That is really what we all have for sale and by what everything is represented; human effort.  Be it making something and getting it to the store or digging minerals from your land.  All boils down to human effort.

IMF top job mind games

How about Saif al-Islam Gaddaf (son of the bad one) for the IMF job?

He is good with money; Libya has 141 tons of gold, worth USD 7 billion, sitting in (or near) their independent central bank.  The Libyan Investment Authority, his baby, is said to be worth £50-60bn.  He has a PhD from the LSE (honorary I think $£$£) .  At one point or another he has been 'in bed' with Nicolas Sarkozy, Condoleezza Rice and knows his way around the royal family, Blair (remember him?), Mandy and the Rothschild family - he was pals with Nathaniel.

His first big sin is not towing the USD line by hinting Libya would like to sell oil for gold and dump the USD. 

His lady friend has often been reported to be ultra-'glamorous' Israeli actor Orly Weinerman - and 'Mustard' agent no doubt. 

So he is no fool but I guess he will not be offered the job because;
1. of who his daddy is and
2. because he is not a lackey to the agenda of debt-based central banks, global governance and the drive towards a 'new world order'.

Joking apart.  I think any suggestion that Machiavellian-Mandy or Bilous-Brown could be seriously considered for the role of IMF big cheese is in the same vein as was the disgusting concept Baloney-Blair may have become Supremo No1 of the European Soviet Union.

The idea is to think of the most vile individual who could be parachuted into this throne of anti-democracy - make everyone fume with rage - and then pop some unknown toady into the role after which we will all go back to sleep without a care in the world.

The Loophole Exploited

Those who have lent excessively, to the point of apparent foolhardiness, can only have done so because they knew, however it turned-out, their bad investments were ultimately indemnified and so protected.

But that was not the game. Not concerned with making bad investments that cause financial collapse and just getting their money back, instead the aim has been to ramp-up such debt and then lend the selfsame sums again required to fund the bailouts themselves. So in doing they create enormous and indefinite national debts held by the bailout nations that can afford to pay and pay such interest as demanded. The people of the EU become tax-slaves to the international bankers.


The loophole exploited is the promise that sovereign states will act as lenders of last resort and behind them the resolve of the member-states of the EU to rally behind the EURO.

This is a win-win; for the bankers, who funded these debts and subsequently will lend the bailouts too, and for the EU/EURO which can only be improbably left to a horrific death or become politically fully incarnated as a result.

Bread and Jam

The aim of the globalist's agenda is to spread the jar of wealth-jam evenly onto each and every slice of the world's nation-state-loaf.

Whatever economic strife is caused, before this grail is clasped, is a price they are willing for us to pay.

Why? Different groups have different objectives. Some believe the only route to global harmony is a one world government and to reach the aim there must be a common global economy. Others use the afore-mentioned sentiment to help realise their objective of global economic and political domination.