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RE: Get Ready for a World Currency

in #money7 years ago (edited)

The only question is will it be admitted by the other countries peacefully.

My blog posits that the nations of the world can not accept it peacefully if it means giving up their central banks because then they end up like Greece. Because the people will never stop demanding that politicians spend more than the tax revenues and/or that government raises taxes so high that the tax bases leaves.

So I posit that the only plausible first step is an international fiat reserve currency which is only used by approved large scale entities and does not compete as the medium-of-exchange within each nation. But I also explained that from there, the nations would still eventually slide into Greece’s situation and become debt slaves to the NWO.

Bitcoin is also potentially a competition to the national currencies.

There is likely to be resistance which is why I posit that cryptocurrency could be another weapon against nations which forces them to join a world government in order to regulate cryptocurrency in order to keep fiat money alive (which is necessary to enable politicians to provide a debt-based scam that the people demand). But that fiat money would be controlled by the world government.

We are headed into a lot of upheaval in civilization starting probably in earnest next year when Europe starts to collapse after this final deadcat bounce in the Euro.

Europe was riding on a wave of dollar capital importation (perhaps much of that indirectly via emerging markets doing dollar bond offerings creating demand for European exports) thanks to the USA Fed’s QE. And the ZIRP in the USA. Also aided by ECB NIRP. But this has bankrupted all the pensions.

There are very serious problems and it is probably going to start to blow up most likely next year. This will drive a stampede of capital into the dollar.

The European bank issue is also related to the problem. The EU knows the sovereign bond situation is about to blowup and the bank solvency is involved in that, that is why they pooled all the European bonds into some asset backed securitization wherein all bonds will be priced with same interest rate. This will keep PIIGS rates lower than they would have otherwise climbed to, but it will raise German and core rates which will choke off the European economy. The rising rates will cause a domino effect into the banking solvency issue as well.

See footnotes 1 and 3 in my blog.

The QE in the USA ended up as $9 trillion in dollar bonds abroad. That will reverse in a short squeeze.

Then we will see a dollar short vortex pulling all capital back from abroad into the dollar. This very strong dollar is going to kill the USA economy also.

Ultimately the economy can recover if the government does not make it worse. But it is likely the government reaction will be a lurch towards Marxism.

The youth are turning revolutionary in their politics.

The NIRP and ZIRP has destroyed the pensions. That is one of the huge problems. Negative interest rate and zero interest policies of the central banks.

Perhaps they policy makers can find a way to extend and pretend to keep it afloat but it does not appear as though they can.

I hate giving people investment advice because each person’s situation is unique and I always do not want to be blamed for chaos.

As in chaos theory and the unpredictability of the exact timing of the future.

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As soon as some countries accepted negative interest rates I thought to myself "OK, this cannot last much longer". It's really incredible how can they still manage to push it further. By my clock it should have popped long time ago.

As you said, next year for sure something is going to happen. But I'm also afraid that when it does they are gonna limit the use of internet. Don't know much about technical details of bitcoin, but I'm sure they can detect blockchain transfers and they could stop it before it even starts.

After the German election, then Merkel can stop pretending she wants to stop the flow of migrants and return to implementing the plan for destroying national cultures of Europe with a secret plan to bring another 7 million rapefugees which are 70% young men.

See my prior blog. Germany has already started censoring the Internet.

But they can't censor the Internet for the entire world. Even if they did, the hackers would find a way around it to get transactions to the blockchain. The more they attack cryptocurrency, the stronger it would get. The potential utility of cryptocurrency is too high and it is the protocol of decentralized monetization for the Internet. The hackers will not give this up in a fight with the governments, the hackers will win easily. We have collectively much more IQ than they do and we can hit them in a myriad of different ways so they play Whac-A-Mole.

But they governments can cause the price to become a rollercoaster by attacking. But then we will be pushed to making cryptocurrency a unit-of-account (so users stop thinking about the fiat value of the tokens), and I am already formulating that plan any way. As I wrote in another comment, I admire Steem’s example but I think they got the onboarding wrong. I do not think upvoting as a way to reward usership is the correct model for creating exponential growth of usership.

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