BCH got smashed and dropped below Stellar to #5. I like XLM.
Made into a miniseries starring James Franco as Jake.
https://en.wikipedia.org/wiki/11.22.63
> Gold shall destroy FED
This fits with the gold symbolism on the right side of the US $100 note.
-
THE UNITED STATES OF AMERICA
-
DEPARTMENT OF THE TREASURY
-
No mention of FED
-
This note is legal tender…
-
Excerpt from Declaration of Independence in gold script
-
Gold quill and gold ink bottle with Liberty Bell inside ("gold protects liberty")
-
The 100 in the lower right changes color from green to gold
The left side is like a conventional FED note and depicts Franklin, a proponent of paper money. The left/right split may symbolize a transition from FED fiat money back to gold-based money.
If we had stayed on a gold standard, we would not have the massive unpayable debt that we now have. If we go back to a gold standard, what do we do about the existing debt? Some can be canceled as "odious debt". But that still leaves vast debt which some advocate canceling with a debt jubilee, as has been done historically going back to the Old Testament. But a jubilee has moral hazard, e.g., rewarding reckless debtors while effectively punishing frugal, responsible people.
Steve Keen's proposal of a modern jubilee attempts to address the moral hazard.
A Modern Jubilee would create fiat money in the same way as with Quantitative Easing, but would direct that money to the bank accounts of the public with the requirement that the first use of this money would be to reduce debt. Debtors whose debt exceeded their injection would have their debt reduced but not eliminated, while at the other extreme, recipients with no debt would receive a cash injection into their deposit accounts.
The broad effects of a Modern Jubilee would be:
-
Debtors would have their debt level reduced
-
Non-debtors would receive a cash injection
-
The value of bank assets would remain constant, but the distribution would alter with debt-instruments declining in value and cash assets rising
-
Bank income would fall, since debt is an income-earning asset for a bank while cash reserves are not
-
The income flows to asset-backed securities would fall, since a substantial proportion of the debt backing such securities would be paid off
-
Members of the public (both individuals and corporations) who owned asset-backed-securities would have increased cash holdings out of which they could spend in lieu of the income stream from ABS’s on which they were previously dependent.
http://www.debtdeflation.com/blogs/manifesto/
http://www.debtdeflation.com/blogs/
https://www.youtube.com/user/ProfSteveKeen
https://en.wikipedia.org/wiki/Steve_Keen
I recently read that Egon Von Greyertz of Zurich-based Matterhorn Asset Management and a proponent of gold as a store of value, is against gold-backed currencies but believes in the Freegold principle. I used to follow FOFOA (friend of a friend of another) years ago but haven't heard much about Freegold lately. Here is a summary:
https://www.scribd.com/document/78300773/Blondie-s-Freegold-Summary
A Freegold Standard
Unencumbered physical gold as the ultimate monetary denominator, benchmarking the value which the monetary system serves to exchange,acting as the objective reference point. From the exchange rate (price) of Freegold in any/all other items (currencies and assets alike), the relative value of any/all can be established in a completely objective fashion. In this arrangement it can be seen that it is gold valuing currencies, and therefore everything inside the monetary system, from its position as the physical wealth asset outside the monetary system. Gold is the master numeraire because it is the master proxy for value, denominating all lesser units of account, and thus providing relativity to all participants in the value-exchange (monetary) system.
This can only come about when gold is traded on a physical only basis -no form of gold derivative should ever be traded at par with physical, on the assumption that it is “as good as gold”, because any derivative is not and could never be as good as possession of the real thing, by definition.Gold is physical gold in the here and now only. Nothing more, nothing less.
Human society arranges itself in response to the monetary system it utilizes to facilitate the flow of value between its constituents. This is to say that the monetary system dictates the nature of the society, and the motivations which drive the behaviours of its individual members.
The current monetary system is completely inequitable, as can be seen in the continual movement of wealth (stored value) to the wealthiest.01% of individuals, and away from the poorest. This discrepancy has never been greater, and continues to grow. Value is liberated from its creators and spirited away through the continual depreciation of the savings medium. A Freegold Standard is a return to a fully equitable system, where the net value producer keeps the unconsumed fruits of their labour until such time as they wish to consume them, or give them away. It does not allow the government to sequester privately saved value any longer, to be spent arbitrarily by those not attributed with its creation. A great deal of certainty is found by all users of such a system.
With the benefit of a shared objective reference point to gauge relative value (the utility found in a good or service), all individuals will have the opportunity to go about producing the highest value/utility they can, in accord with this new objective data, which will result in myriad new possibilities to apply existing skills, capital and knowledge far more effectively and productively than at present.
To separate self-sufficient human beings, gold has no utility; but as partof a larger interconnected human super-organism gold has the highest utility, as the heart of an equitable value circulation system.
A Freegold Standard: elegant in its simplicity.
The Fall Of The US Dollar: Is The Return To A Gold Standard Inevitable?
Excellent Grant Williams presentation at the Cambridge House Silver and Gold Summit in October, 2018, entitled "Cry Wolf".
>I actually think it could be enough just to return to the US Note fiat out of the Treasury. Backing a currency with a country's credit isn't a horrible thing. It's a legit form of collateral.
Agreed. As The Wörgl Experiment (http://www.lietaer.com/2010/03/the-worgl-experiment/) demonstrated locally in an Austrian town, well-designed fiat currencies can transform a depressed community into a thriving community. What can work locally can work on a larger scale.
>The problem is the FED and the fractional reserve/rehypotheticated lending which erode value.
And the 11th marble problem (http://www.whatreallyhappened.com/WRHARTICLES/11thmarble.php), charging interest on lent fiat money which cannot be paid.
>Gold, crypto, oil etc. can all float and be part of reserve baskets.
Agreed. To free gold from suppression, at least naked short selling of paper gold should be abolished.
We'll need a new bread soon. Is there a baker on duty?
The previous bread link in the first post doesn't work: >>2221598
The archive link in the first post doesn't work: https://archive.fo/xjjZM
The previous bread is here, but many of the images are missing: https://8ch.net/qresearch/res/2221598.html
Thanks Anon. The scenario you detailed is likely baring some kind of preemptive move intended to smooth the transition. China and Russia see a reset coming and have already taken steps to stabilize those countries. Hopefully the U.S. has also quietly prepared.
Vanadium Skyrockets After China Shocks Market With New Regulations
https://www.zerohedge.com/news/2018-12-27/vanadium-skyrockets-after-china-shocks-market-new-regulations
>"Supply of vanadium globally has been "drawn down to nearly nothing,” according to Jack Bedder, director at a London-based research and consulting firm."
This could spill over to the other precious metals.
The first time I had an opportunity to buy bitcoin the price was $0.10; that was over 8 years ago. Once time I got 0.03 bitcoin free from the bitcoin faucet. I gave them away to a friend. That amount would eventually be worth almost $600 at the peak about a year ago.
Several years before that I followed Ryan Fugger's mailing list for Ripple which later evolved into XRP. I remember the day he stopped developing due to lack of interest in the project. (He later became an adviser to XRP.) People really didn't care about decentralizing money. The reason Bitcoin and its successors exploded into a bubble was because of simple greed. It was the perfect raw material for a bubble because there is no way to objectively value it, making it ideal for speculation.
I got involved as a developer in several cryptos, eventually becoming a core developer. But I got out of it this year because there is little left of the original idealism. It's mostly about getting rich quick.
After 10 years of Bitcoin, it's still easier for me to transact in dollars. I'm not sure that will change in the next 10 years.
>Silver is about 60% of it's intrinsic value
That may be true for all I know, but I keep coming back to this data:
Estimated fine silver bullion in world: about 3.5 billion ounces.
Estimated fine gold bullion in the world: about 3.5 billion ounces.
Source: https://www.jmbullion.com/investing-guide/types-physical-metals/how-much-fine-silver-bullion-in-world/
An ounce of fine gold is priced about 83 times the price of an ounce of fine silver, but there is about the same number of ounces of fine gold and silver in existence. In terms of concentration in the Earth's crust, the ratio of silver to gold by weight is 10:1.
The total value of all fine silver is 3.5 billion x 15.3 $/oz = $53.6 billion. Any one of Bill Gates, Warren Buffet or Jeff Bezos could buy every once of fine silver in the world at today's price and then set the price to whatever they want. Why haven't they tried to corner the market? The Hunt brothers bought over 40 million ounces in the late '70s but were forced out of their position. Buffet bought 130 million ounces in the late '90s but then he sold it. Why? Now JP Morgan has accumulated 800 million ounces!!! Why?
I don't know the answers and I don't know when, but I bet that silver will have its day.
>Not to say crypt is gold or silver, but that it can be used as a suitable digital representation of gold or silver to make it useful for gold/silver based electronic and digital. Yet another nail in the coffin of fiat, which up to now has no actual digital representation. other than arbitrary amounts in a database.
Actually, digital gold is already in use. And it makes use of cryptography by necessity for security, but it does not use a block chain. Trust in a central authority is required, but the payoff is nearly instant, low cost transactions. The only advantage of using a block chain is to shift control of transaction approval from a central authority to a distributed group of entities which arrives at a consensus, but at the cost of a delay, volume limitations and sometimes high transaction fees, among other issues, including the question of whether the group of entities are independent (there was a time when one Bitcoin mining pool controlled more than half of the hash power, but chose not to abuse that control.)
Goldmoney is an example of digital gold (endorsed by Peter Schiff and James Turk) as is Perpetual Assets (Gus Demos and Will Lehr). Both have gold-backed debit cards. Goldmoney allows instant transfers of gold for free to other Goldmoney account holders.
>We are on the shores of time–watching a significant event in history flow by. The Storm will lead to The Great Awakening, which will lead to the biggest changing of the guard this great country (and world) has ever seen (including the destruction of the Central Banking system).
I believe that The Great Awakening is just that, an awakening of the mass consciousness so great that probably decades or maybe centuries from now they will see our time as a new beginning and reset the calendars.