Socio-Economics History Blog

Socio-Economics & History Commentary

The Blockchain: A Gold and Silver Launchpad?

Remember the Golden Rule: “He who has the gold Rules!”

  • Blockchain technology, the underpinnings of Crypto-currencies, make banks obsolete. You can transfer funds using BitCoin or any Crypto-currency, to anyone or company, without a bank as intermediary. Quite obviously it is a threat to the Illuminist global banking cartel. (Think about it: you can buy/sell using Cryptos totally bypassing governments and banks.)
  • My understanding is that the Illuminati wants to overcome this threat by introducing their own Crypto One World Currency backed by gold. Since it is back by gold, banks will be needed to handle the physical movement of gold. Of course, this physical movement of gold will likely be similar to the system when all currencies were backed by gold ie. centralize locations like London, Shanghai … where nations hold their physical gold and end of day transfer/squaring of accounts resulting in net movement to or from a nations account.
  • When the world moves to a Crypto One World Currency backed by gold, the central banking cartel will not accept any Crypto currency which bypasses the banking system. Ie. they will attempt to shut it down or make it illegal. It is a threat to their global hegemony.
  • The Blockchain: A Gold and Silver Launchpad?
    by https://www.moneymetals.com/
    A new day is dawning for precious metals. Gold and silver – the world’s oldest money – are “connecting” with the newest money, digital cryptocurrencies. The final outcome of this nexus is unpredictable, but it is foolhardy to ignore what is taking place.

    Central governments around the globe have waged, against their own citizens, a virtual “War on Cash.” Efforts by Sweden to become “cash-free;” progressive “downsizing” of Eurozone currency units; a currency recall in India that affected 1.3 billion people; solemn talk about eliminating $100 and even $50 bills in the U.S. – all in the supposed fight against “drug dealing and tax evasion.”

    It’s really about people control. The War on Cash goes hand in hand with the imposition of onerous taxation levels, negative interest rates, and destruction of what little privacy we have left.

    Historically, nations backed their paper currencies with gold and/or silver. Today – without a single one doing so – it might seem, as some naysayers have observed, that gold is at best a “barbarous relic;” at worst, just a “pet rock.” And yet…

    The War on Cash has unleashed a hydra.
    From the invention less than a decade ago of the “cryptocurrency” Bitcoin, to its present-day evolution, a change of monumental significance is underway.


    The Foundation Is the Blockchain
    Satoshi Nakamoto is credited with the creation of Bitcoin and as part of its implementation, devised the first blockchain database. By definition, a blockchain “allows connected computers to talk to each other, rather than through a central server. Using a ‘consensus mechanism’ the connected computers on the network stay in sync and agree with each other.” Every data entry references an earlier one, agreeing with the entire chain. (Summary from an essay by Peter van Valkenburgh.)

    Three years ago, David Morgan aired his views in an essay titled, “My Two Bits about Bitcoin.” The technology was complex, relatively slow, and looked to become unwieldy. This was 15 months before the debut of a process that now holds the potential to turn night into day for just about any kind of online commercial transaction… and could spark a revolution for the use of “digital gold and silver.”

    The key (for now) is Ethereum.
    Ethereum is a computing platform – and a cryptocurrency… that runs smart contracts – applications that run exactly as programmed without the possibility of downtime, censorship, fraud, or third-party interference (ethereum.org).


    The Potential and the Promise
    Acceptance of gold and silver as a store of value and medium of exchange most likely pre-dates recorded history. Then someone (the Chinese?) got the bright idea to create a paper substitute exchangeable for, but still backed by, precious metal.

    read more.

end

May 15, 2017 - Posted by | Economics | , , , , ,

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