Cash Beats Electronic Money, but Real Money Beats Cash

Cash Beats Electronic Money, but Real Money Beats Cash
Here is a comment on the day:

Viv Forbes – Today’s world is awash with electronic money. But last week, much of Australia’s electronic money disappeared for up to 14 hours with the crash of the Optus electronic network.

The disruption to business and the community was “immediate and profound” with rail networks, hospital services, retailers, and banking establishments affected. Naturally this was not helped by babbling politicians waving big sticks.

Shoppers rushed ATMs to get cash for a cup of coffee. Some were unable to pay for meals they had already consumed. Continue reading

The Root Cause Of The Banking Crisis? The Federal Reserve

The Root Cause Of The Banking Crisis? The Federal ReserveJacob G. Hornberger – The Justice Department has announced it is investigating the banking crisis. It will undoubtedly charge that banking officials are responsible for the crisis. One thing is for sure: It will not indict the Federal Reserve System, which is the root cause of the crisis. In fact, in its search for scapegoats, it will not even acknowledge the Fed’s role in the crisis. That’s because the Fed plays a sacrosanct role in America’s welfare-warfare state, and every federal official knows that.

Of course, this is not a new phenomenon. Back in the 1930s, the last thing government officials were going to do is admit that the Federal Reserve was the root cause of the 1929 stock-market crash that led to the Great Depression. Instead, they told the American people that the crisis was all because of the “failure of America’s free-enterprise system.” Continue reading

The Two Crypto Economies

Crypto Paul Rosenberg – Bitcoin has always been hard to understand. Even Satoshi, its author, complained about that. The problem isn’t so much its complexity, but its newness – there’s really almost nothing to compare it to.

Having nothing to compare to is also a problem related to the prices of Bitcoin and the other cryptos. We’ve never seen currencies start from nothing and grow into serious players. We’ve always had silver and gold, at least in the background, but more or less all other currencies (certainly in our time) have been imposed by force.

Bitcoin, unless I’m forgetting something, is the first independent, world-recognized currency to pop up in a long, long time. And because of that, understanding its price is complicated.

The Two Economies

The key to understanding the price of cryptos is realizing that there are two separate crypto economies: the speculative and the commercial. These two economies are currently bumping into each other and occasionally running over each other… sometimes synergistically and sometimes antagonistically. Continue reading

Sovereign Debt Jubilee, Japanese-Style

debtEllen Brown – Japan has found a way to write off nearly half its national debt without creating inflation. We could do that too.

Let’s face it. There is no way the US government is ever going to pay back a $20 trillion federal debt. The taxpayers will just continue to pay interest on it, year after year.

A lot of interest.

If the Federal Reserve raises the fed funds rate to 3.5% and sells its federal securities into the market, as it is proposing to do, by 2026 the projected tab will be $830 billion annually. That’s nearly $1 trillion owed by the taxpayers every year, just for interest.

Personal income taxes are at record highs, ringing in at $550 billion in the first four months of fiscal year 2017, or $1.6 trillion annually. But even at those high levels, handing over $830 billion to bondholders will wipe out over half the annual personal income tax take. Yet what is the alternative?

Japan seems to have found one. While the US government is busy driving up its “sovereign” debt and the interest owed on it, Japan has been canceling its debt at the rate of $720 billion (¥80tn) per year. How? By selling the debt to its own central bank, which returns the interest to the government.

Continue reading

Everything Is Fake (Part 2)

fakeMakia Freeman – Everything is fake in our society today – or at least a great many things are. This is part 2 of a series of exposing the colossal amount of fakery that exists in our world today. However, all the fakery is now being exposed at a rapid rate as humanity’s consciousness rises, and it serves as a reminder to investigate and consciously choose what is more real.

Continuing on from part 1, here are more areas of fakery:

10. Fake Choice

The US (and other Western nations) like to pride themselves on being free, open and offering so much choice to the average citizen. But do they really? What kind of choice is it when you can choose from over 1000 channels on cable TV and 25 flavors of frozen yoghurt, but when it comes to running society, all the major candidates for political office have identical policies on the things that count? Is there any real choice when one US politician is slightly tougher on immigration, but both support the current parasitic monetary system (privately owned Rothschild central banks like the Federal Reserve), the continuation and expansion of the US Empire through constant war and military base acquisition, and crony capitalism where politicians reward corporations at the expense of ordinary people? Real choice is the power to have a say in the direction of society, not what material variety you have as a consumer.

11. Fake Money

A nation can never truly prosper as a free, fair and egalitarian society as long as it has a rigged monetary system. Today’s money is a privately-controlled creation. The controllers, who own a government-sanctioned central bank in almost every country on earth, long ago convinced the government to adopt their funny money and rule that it be made legal tender. This funny money is fake money, because it carries no intrinsic value. It’s just pieces of paper with ink – and now, increasingly, just digits typed into a computer. It’s fiat currency. The word fiat means “by Government decree”, so funny money gets its value just because the Government says it does! Continue reading