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Thread: World financial affairs coming to a head ... potentially within weeks

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    Avalon Member sigma6's Avatar
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    update: Just listened to Clif and his explanation of bitcoin, the biggest kicker is that bitcoin is OPEN SOURCE code, the implications of this is brilliant. (I'm sold on that fundamental alone!!) What it all gets down to ultimately then is the algorithm. This is ultra cool (I swear Clif just said "cool" right after I just typed this... ( LOL - karmic ca-ching!) Anyhow... it still all gets down to the algorithm. Which is controlled and developed by "the world population of programmers" and it will be fascinating to find out how that is 'modulated'. In that sense it is slanted toward programmers, (another fascinating point) but apparently, and it makes sense, according to Clif, anyone can use this as an opportunity to learn the code (if they ever had the desire at any point) Again I can totally relate, as I remember dabbling in C and Pearl...) I think this audio is the turning point for me. I am ashamed to admit I haven't looked at it, but I am sold now... (although yet to start further researching)

    Any investor can see the advantage of diversifying into this. I was impressed with Clif's explanation regarding Bitcoin reflecting true value. I agree with him that 'Universe' wants to reflect true value. and Clif adds weight to the argument, considering he is THE Original Web-bot programmer, and I trust him. Some may remember web-bot was originally aimed at predicting financial markets, and he does seem to have a decent awareness of fundamental economics in my opinion. And I am in agreement with him, this isn't rocket science (to a standard geek)

    I think there is something genius going on here. Think about it. This thing has ZERO advertising, mass marketing, zilcho, nadda, nothing. Has anyone factored that in, in terms of true value, efficiency, stability??? (double ca-ching!)

    Kicking myself for not "seeing" this a year ago... should have listend to "the Clif" more... I do enjoy listening to him, and love factoring in his "slice" on "the big picture". Based on the market and what he has said, he looks to be dead on, on this one... which shouldn't be too much a surprise, this is right down his alley. From a financial investment point of view, on an unadvertised medium such as this, who better to get a commentary from?
    Last edited by sigma6; 27th March 2013 at 21:23.
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    1 year ago bitcoin was 10$ now is going 90$

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    LOL, Radi, that was the second 'serendipitous karmic caching', I just wrote that in while you put up your own Post (high five)
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    ENTER THE WORLD'S FIRST OPERATIONAL BITCOIN ATM



    http://dollarvigilante.com/blog/2013...on-cyprus.html


    "ENTER THE WORLD'S FIRST OPERATIONAL BITCOIN ATM

    Upon examination of the marketplace and many discussions with Justin O’Connell (TDV Newsletter & Gold Silver Bitcoin), as well as another key strategic partner of ours, I have decided to move forward with what I believe could be the next multi-billion dollar business venture: Bitcoin ATM.

    But that isn’t all. It is wholly our intention at Bitcoin ATM to put the company in the right position to open its very first ATM in Cyprus. If we did this now, and we are moving quickly to make this so, we would be the only functioning ATM on the island.

    How do I know this is such a good idea? Just look at what Bloomberg recently wrote about Bitcoin as currency:

    One place where it’s not safe is in Bitcoin. Bitcoin is generally referred to as a “digital currency” or “virtual currency,” a form of cash that doesn’t need government backing. Unfortunately it’s missing the most essential aspect of money: it’s not useful for buying anything. Bitcoin’s rise as a tool for financial speculation underlines the failure of the virtual currency idea.

    As Dollar Vigilante readers will know, I take issue with a number of assumptions in this paragraph. For instance, no economic law exists (in the real world) which stipulates that cash needs government backing. Also, I have found that Bitcoin is useful for many things, not the least of which are the many things we accept Bitcoin for here at TDV Media, such as TDV Offshore, TDV Passports, TDV Newsletter, TDV Homegrown, and Get Your Gold Out Of Dodge.

    I am not the first person to note Bitcoin’s Aristotelian attributes as money.

    Durability: Bitcoin exists on the networks of users everywhere. Just like the internet, there is no singular switch to turn Bitcoin off. Bitcoin has already seen tremendous volatility, and the userbase has remained.

    Portability: What’s more portable than a flash drive? Or, how about a private key memorized in your brain. There is nothing more portable than a thought, and that’s what Bitcoin can be if you memorize your private key and keep the coins on a cold storage medium (also another technology the Bitcoin ATM team has planned).

    Fungibility: Bitcoin is divisible up to 8 decimal places. That means that at its current growth (inflation) rate of 3,600 bitcoin-a-day, the ultimate total amount of 21,000,000 bitcoin ever to be on the market can be divided among billions of people on the planet.

    Intrinsic Value: A bet for Bitcoin is a bet for the Internet. We all have first hand experience with the intrinsic value of the Internet. What’s more, Bitcoin values the notion of privacy in a world where privacy has become scarcer than silver."

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Hey folks,

    I have to interject here. I am no financial guru, but it seems to me that Bitcoins are a bad idea overall. These were my initial thoughts.

    Ultimately, Bitcoins are worth less than the paper money we use today when you think about it. The paper money isn't backed by gold anymore, but it's still paper ... it's at least tangible.

    Even credit cards are supposed to be backed by paper money somewhere, and this is even further from the mark of currency being backed by some precious commodity.

    Bitcoins seem to be backed by nothing but good faith.

    They are wholly digital. Maybe I am misunderstanding this.

    Ultimately, I see (rather, the conspiracy nut inside of me sees) this becoming some sort of one world currency developed virtually and sustained wholly in cyberspace.

    Here are some other links that at least get you thinking about some disadvantages of Bitcoins.

    http://www-cs-faculty.stanford.edu/~...ges/index.html

    Like I said, these are just initial thoughts, but I think it's probably a good idea to look at the disadvantages too.



    That advice from Alex seems prudent enough.

    Also, Bitcoins are dependent on the internet, yet Clif High expects the internet to fail based on his data gap ...
    Last edited by Jeffrey; 27th March 2013 at 14:40.

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Hey Vivek,

    There´s a good thread about bitcoins here:

    https://projectavalon.net/forum4/show...ederal-Reserve

    Raf.

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Quote Posted by Vivek (here)
    Here are some other links that at least get you thinking about some disadvantages of Bitcoins.

    http://www-cs-faculty.stanford.edu/~...ges/index.html
    That's a good list of the practical disadvantages of bitcoins - thanks.
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Maybe Bitcoins should have its own thread... interesting subject. It now seems fairly clearly however that they are on the radar of TPTB and so I expect that there will be some major efforts to crash/infiltrate/tax/control/discredit etc. bitcoins over the next few months. There is no way that TPTB would let bitcoins actually work as a functioning currency, too many cats out of too many bags.

    On the general question of the world financial crisis coming to a head in the next couple of weeks - once again, no.

    It is not going to happen. The crisis is on-going, permanent and will get worse in fits and starts. I'm going to copy the substance of the comment that I made on another thread because only 4 people thanked me for that comment hehehe

    As a number of people have said, a collapse is only going to happen if it serves TPTB to do so.

    The point to remember is this: there are many, many intermediate steps between "where we are now" and "total collapse". And each of these steps can be used to tighten the screws of control, to make people accept one more small loss of liberty or infringement of rights, for the sake of social order and "preventing collapse".

    In other words, TEOTWAWKI will increasingly be used as a meme to justify what is happening anyway with the NDAA, domestic use of drones, security cameras everywhere, thought predictive pre-crime interventions, etc. That is, if terrorism no longer frightens people, maybe TEOTWAWKI will? Of course, this means that TEOTWAWKI is, or would be, a false flag. It is very important to bear this in mind as we discuss these issues and anything relating to "collapse".

    A good economic perspective on all of this is Charles Hugh Smith. He doesn't mention UFOs at all, but he is very insightful on many other things: http://www.oftwominds.com/blogmar13/...arios3-13.html

    For the reasons given above, we are going to see his scenario 2 prior to scenario 3.

    Finally, on Paul's original item 1, about the petrodollar, this is incorrect. Oil and gas assets are increasingly owned by the Russians and the Chinese, but oil and gas are still bought and sold in US Dollars. Anybody who tries to sell in another currency gets brought down pretty quickly (Saddam Hussein, Gadhafi).
    Last edited by Cognitive Dissident; 27th March 2013 at 16:18.

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    -------------------------

    Billionaires Dumping Stocks, Economist Knows Why

    Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.

    Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate.

    [...]

    Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

    Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

    So why are these billionaires dumping their shares of U.S. companies?

    Full article here: http://www.moneynews.com/Outbrain/bi...MO_CODE=FE8A-1

    See also: http://www.warrenbuffett.com/why-bil...alarming-rate/

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    As for the open source theme. I am a software developer.

    Unless you build your software from the code itself, you have no assurance the code match the software you are running.
    Java software applications have some authenticity mechanism. The only one I know (there may be others).

    Saying this:
    1. Bitcoin is #1 financial tracing/tracking system.
    2. Google Chrome is #1 spying software there is. (the open source version is not the software you are running in your computer).
    3. Self built Linux kernel (Like Debian), is indeed open source. Unlike Android, Mac OS, iOS and other Linux derivatives.

    Assume the information you type in your machine is public domain.
    Last edited by PathWalker; 27th March 2013 at 17:32.
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Number of interesting posts.

    It seems I live under a rock as I had not heard of bitcoins until Paul posted the Clif wujo.

    My initial excitement stems from my trust in Clif (and Paul) ... as well as not only having an option to bankster control but what sure *appears* to be a remarkle investment opportunity with a very tight window.

    (read monkey mind or more appropriately reptile survival instinct goes into overdrive)

    That excitement has waned somewhat upon learning more and considering all the variables.

    I hope those offering warnings against bitcoins will have taken the time to listen to Clif's mp3.

    With some history of trading futures and seeing the spike in price based on the Cyprus situation one can only imagine what would happen if, indeed, the country by country domino collapse of the world economy happened. Since bitcoin appears to be "priced" relative to various global currencies if you are savy and lightning quick you could take advantage of a remarkable opportunity to preserve wealth when most of the global wealth is sucked away before most have a clue what has happened.

    Now ... having said that ... even with the most optimal scenario regarding getting into bitcoins then having the value skyrocket you still have to consider ... ***getting out***.

    There has to be a buyer for every seller.

    If the dollar (just as an example) crumbles to near zero the weighted value of the bitcoin would conversely go to the moon.

    ... but ... what are you going to do???

    Sell it to someone else who may be a millionaire yet basic math suggests a million x zero = zero???

    Perhaps a better play (from purely an investment approach) to stick with forex and short the dollar vs some other currency that *perhaps* might escape the collapse.


    Anyway ... back to topic.


    I found a site last night at work (unfortunately I cannot find again) that had a list of all the places that accept bitcoins as payment. The overwhelming majority, understandably, are web based and computer related.

    Walmart was *not* on the list ...

    There were perhaps 3 restaurants worldwide ... meaning you ain't gonna feed your family here.


    From what I can tell ... at least at this point ... you don't remain "anonymous" if you are trying to make transactions over $10,000.

    The best use I can see for this is if you were seeing the handwriting on the wall (aka pre ww2 Germany) and want to simply pick up and leave amerika yet still be able to have access to your funds (better act fast). Depending on your situation if you had a spouse who left first ... you could make transfers under that amount and wait for your spouse (then located in the country to flee to of your choice) sell the bitcoins put them into the local currency (then housing/food/tangible physical items) then rinse and repeat until you move your moneys elsewhere then rejoin your spouse/family.

    (assuming other conventional methods of money transfer were no longer secure)


    Lots of speculation (mental mast_rrrr_bation more likely).


    Anyway ... I work in the IT field but haven't done any serious coding since college ... again simply placing trust in Clif and Paul.


    All this personal speculation is based on my expectations of what will happen to fiat currencies. To give you an idea ... I quit a job I absolutely *loved* about 8 years ago simply so I could gain access to my 401k retirement account because I was so convinced that by the time I was of retirement age it would be gone.

    Sorry to ramble ...

    simply a bit (coin) to nibble on for anyone considering this.

    If Clif (and others) are correct about the time frame ... now would be the time for action ...


    tick ... tick ... ooops ... too late
    Last edited by Calz; 28th March 2013 at 01:41.

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Quote Posted by Calz (here)
    Number of interesting posts.

    It seems I live under a rock as I had not heard of bitcoins until Paul posted the Clif wujo.

    My initial excitement stems from my trust in Clif (and Paul) ... as well as not only having an option to bankster control but what sure *appears* to be a remarkle investment opportunity with a very tight window.
    Well, as you can see from some of my other bitcoin posts over the last day, I still have second thoughts about bitcoins. Once again I have looked at them, and once again I have decided not to pursue them further.

    As for Clif High, while I continue to enjoy listening to him, I increasingly need to take his specific forecasts and recommendations with a grain of salt. His bitcoin comments were enough to get me to look at bitcoin again, but in the end analysis, they didn't persuade me.

    Further down this month's paid subscription newsletter from Jim Willie, of the Hat Trick Letter, Jim quotes one of his trusted sources as expecting that Europe will be the trigger that breaks the Anglo-American financial system, but he does not expect that these recent events in Cyprus will be the exact trigger.

    I have this vision right now of two sumo wrestlers, of great size and years of experience, circling each other and making testing moves. One might have a pretty good idea that the challenger is going to win, as the aging champion has a serious injury. But unless one had a front row seat and and had spent many years watching such contests, one would need slow motion video to analyze, after the fact, the actual move that determines the contest, and one would need a deep knowledge of sumo wrestling to realize the other moves and feints, before and after, which were essential to determining the result. One also suspects that there are some unseen men, behind the scenes, who have more influence on the results than what is visible to the common spectator.

    Us guys in the peanut gallery, a half mile from the center ring, are peering through our binoculars just trying to figure out who the two contestants are .
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    There is no problem with fiat currency, its just a system, a tool, the question is who is managing the process. In a centralized system, once it is corrupted then no system will work. I can build a safe, but if I give the keys to my criminal friends what does that have to do with the safe being well designed? The problem with Federal Reserve system is that it is run by a pyramid of Satanic Pedophilic Sadistic Inbred Crime Families.

    That's a problem.

    As always the issue is always with CONTROL OF DISTRIBUTION OF... (FILL IN THE BLANK)

    Bitcoin like the internet and all structures and organizations modeled similarly are the anti-thesis to the Control of Distribution issue. NO ONE individual can control it. And they are usually models of hyper efficiency and incredible robustness.

    People are so brainwashed to live according to such a low standard and having all their wealth and labour be stolen from them, or flushed down the toilet, they get weirded out when told that it is in fact NOT NORMAL (or efficient) The whole purpose of big government is to suck up as much private wealth and impose as much imposition and tax as is humanly possible (Western Roman Imperialism) That fact that we live under these circumstances means nothing, except we are willing oxen. Clif is right. Bitcoin is inevitable. Learn it now, or like the computer learn about it later...

    Decentralized control,
    Open Source
    Not controlled by any individual government.
    Algorithm to prevent inflation.
    Requires only human thought to unlock,
    Global currency
    It's success is tied to the success of the internet.
    It's only two years old!!
    No paying for huge towers in downtown city cores (who do you think paid for those buildings???)
    No banks, CEO, Vice Presidents, their managers, their staff...
    No multibillion dollar advertising campaigns
    No expensive minting
    No manipulation By private interest groups.

    Even if it isn't a perfect system, with that many trillions freed up, there is more then enough billions saved due to it ridiculously clever efficiencies to create whatever system is necessary to make it work even better. (Which btw it appears to already be working highly successfully) And will still save infinite billions. This is such a no brainer...

    And although I have not done enough research it seems to be based on a private public key security encryption ( just larking...) But if it is, that is as secure as it gets. although encryption is ever evolving and another separate issue.
    Last edited by sigma6; 27th March 2013 at 22:52.
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Quote Posted by sigma6 (here)
    Bitcoin like the internet and all structures and organizations modeled similarly are the anti-thesis to the Control of Distribution issue. NO ONE individual can control it. And they are usually models of hyper efficiency and
    Hey mate,

    Sorry, but you´re wrong. Read this thread if you want to know more about it.

    Bitcoins can be controlled and already are, not by individuals, but by groups; The anonymous owners of the bitcoin exchange networks and major "mining pools" group.

    The exchange people can (and already have) manipulate the exchange ratio as they see fit.

    The major "mining pools" can control the amount of new bitcoins that enter the marketing by accelerating or slowing down the mining process.

    As I said before, Max Keiser analyzes is incorrect about bitcoins. Instead of stock markets and central banks, bitcoin has exchange website and mining pools, owned by a bunch of anonymous hackers.

    It´s not even close to be safe as well, at least for the average computer user. Keeping your wallet file secure requires a lot of security knowledge.

    So, to sum up about bitcoin:

    -It´s not stable. It has gone through many ups and downs and a couple of majestic crashes.

    -It´s not decentralized. It´s highly controllable by exchange websites and mining pools.

    -It´s not anonymous. There are means to trace transactions.

    -It´s not backed up by any legal tender or commodity.

    -It´s not backed up by the law. If someone steals your wallet, like it´s happened many times before, there´s no one you can file a complain to. You just lose your money forever.

    -It´s not safe. There are hacker groups and malware specialized in locating and stealing people´s wallets. The average person doesn´t have the knowledge to protect themselves from them.

    Raf.
    Last edited by RMorgan; 27th March 2013 at 22:14.

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    That's an issue that can be fixed. And as the population of users grow, it will be diminished. Technically Wallstreet and The stock markets or Forex exchanges are too big to be controlled except that they are artificially controlled by the Big Banks, who have designed it that way. So nothing can be done about it. When enough people want to change something on Bitcoin. It will be changed. Your not getting the NO ONE entity can control it aspect... How many times have we heard about various organizations trying to control various aspects of the internet?

    You have to think outside the pyramid.

    The banks are dinosaurs and they know it, it was always a control system since the day it started. Controlled by the elite and well educated. We are witnessing another pillar of the Elite Control System falling under its own weight into the ruins. haha!!. I can see the day when they will become top heavy organizations like Bell. That has to carry on, but long past the point of diminishing returns from increased growth to becomig an government controlled institution. Just another option (look for cheap underpaid government positions) Today computers can do all the accounting instantaneously.

    The Internet is the perfect place for these types of businesses. Look at the growth of multi-level marketing companies online. Although they still need a long way to go in terms of the value offered, that is largely a functon of the algorithm they choose (which educated customers will learn to choose more wisely from in the future) but in principle of distribution and the business model itself is efficient and robust. And because they were integrated into the structure of the internet, again all accounting is done instantaneously. This is a relatively new attribute of commerce since it's inception. It's implications not yet fully realized or understood. Although Bitcoin is taking advantage of this relatively new fact of existence.

    The potential is unlimited. Why pay accountants to do what computers can? Instead of a thousand individual businessmen paying a thousand accountants, why not take those funds, create an online (computing) system that can be shared by all. Wasn't that the great efficiency that made Bill Gates all his money? So why not create the same system for the people by the people. (Screw Bill Gates, he stole Q-DOS off someone else anyway...)
    Last edited by sigma6; 27th March 2013 at 22:20.
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Paul or anybody,

    If North Korea drops a nuke on one of our bases in Japan, do you think that might trigger an economic collapse for Japan?
    North Korea Cuts Hotline, Warns Of 'Simmering Nuclear War'

    North Korea orders military to combat ready; target U.S.
    I mean, from what I've read, Japan is "due". They've been coasting along with an slow moving "zombie economy" for a while now and their national debt has been over 200%(!) of their GDP since that major earthquake a few years back.

    It seems that they are just a breath away from economic turmoil. Now, Abenomics is pushing for QE more than ever before in their economic history. The Yen has been diving for a while now.

    Apparently, Obama has given Israel the "green light" to clean house in Iran.
    Obama gave Netanyahu the green light on Iran
    History has taught us that government/bankings way out of a depression is war.

    It seems to me that the stage is set (Korea/Middle East). Not to mention US/UK brass have just met for an unusual, "rare strategy meeting" that hasn't taken place (in these regards) since WWII.

    This thing with North Korea is serious. They have nuclear weapons, and they may be feeling desperate now. China, their main ally, has even been putting pressure on them and enforcing these new UN sanctions.

    We are poking an angry dog here. They must know how it would end if they started a war with the south or attacked a US base in Japan, and they may feel that the world is against them (which it is). That's why I'm saying they could be feeling desperate ... thinking, "if we're going down, we're going down in flames" ... especially if China cuts them off.

    I think a war in Korea would definitely catalyze this looming global economic situation ... especially with Japan, possibly the first big domino.
    Last edited by Jeffrey; 29th March 2013 at 20:27.

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    Avalon Member sigma6's Avatar
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Quote -It´s not stable. It has gone through many ups and downs and a couple of majestic crashes.
    -It´s not decentralized. It´s highly controllable by exchange websites and mining pools.
    -It´s not anonymous. There are means to trace transactions.
    -It´s not backed up by any legal tender or commodity.
    -It´s not backed up by the law. If someone steals your wallet, like it´s happened many times before, there´s no one you can file a complain to. You just lose your money forever.
    These are all technical issues. For two years of existence it is doing amazingly well. Once it goes mainstream, these will all be solvable technical issues. And there should be a means of keeping track of transactions anyway. That will be needed to correct "errors of accounting". And it's not backed up by law?. Take a look outside. What law? There is no "law".

    Are you talking about "statutory laws"? That's an oxymoron by definition. You mean the "laws" that allows the Government to allow a bank to go in and publicly steal people's bank accounts, and then advertise it on the news, right in front of everyone's face? Are those the laws you are referring to? There are corporate bosses running pyramidal corporations. And you're an "employee" or "officer" You're not following the "law" you're living like a lacky that has to jump when you "boss" says jump and if you don't like it you can move to South America (as the only way to surgically remove your Mcdonald's cap and take off your apron, to say "I quit, I don't want to follow McDonalds' "laws" anymore... waaahhhh....)

    (no disrespect to McDonalds employees or people who live in Corporate USA)

    Nothing backs many forms of currency. That's why they call it fiat. It's not that it's fiat, it's that it is centrally controlled by inbred satanic pedophilic sadistic crime families. That's the problem...

    In reality the only true law is the law of contract. The law of consensual exchange of consideration. I would rather trust a series of networked computers distributed around the world, that are open to public inspection then a centrally owned (and thus privately programmed) computer run by gangsters.

    Once a real market is created, with increased supply and demand, people will demand higher quality, and those that deliver it will be rewarded. It may sound unfamiliar because we haven't been living in an open market for so many decades many people forget how it actually works...
    Last edited by sigma6; 27th March 2013 at 23:16.
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    By faith we understand things which are seen were not made of the things which are visible

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  32. Link to Post #38
    Avalon Member sigma6's Avatar
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Quote Apparently, Obama has given Israel the "green light" to clean house in Iran.
    That's a joke, they could barely handle the Palestinians in their own back yard. And if they unload one Nuke. All bets are off. So they are still just a posturing tool. (like so many other things)

    Quote History has taught us that government/bankings way out of a depression is war.
    That was before the internet, when people thought they were dying for honour and integrity, not Dick Cheney and his corporate profits.

    A refresher on "what is money"...





    Last edited by sigma6; 27th March 2013 at 22:59.
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    By faith we understand things which are seen were not made of the things which are visible

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  34. Link to Post #39
    Brazil Avalon Retired Member
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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Quote Posted by sigma6 (here)
    Quote -It´s not stable. It has gone through many ups and downs and a couple of majestic crashes.
    -It´s not decentralized. It´s highly controllable by exchange websites and mining pools.
    -It´s not anonymous. There are means to trace transactions.
    -It´s not backed up by any legal tender or commodity.
    -It´s not backed up by the law. If someone steals your wallet, like it´s happened many times before, there´s no one you can file a complain to. You just lose your money forever.
    These are all technical issues. For two years of existence it is doing amazingly well. Once it goes mainstream, these will all be solvable technical issues. And there should be a means of keeping track of transactions anyway. That will be needed to correct "errors of accounting". And it's not backed up by law?. Take a look outside. What law? There is no "law".

    Are you talking about "statutory laws"? That's an oxymoron by definition. You mean the "laws" that allows the Government to allow a bank to go in and publicly steal people bank accounts, and then advertise it on the news, right in front of everyone face? Are those the laws you are referring to? There are corporate bosses running pyramidal corporations. And you're an "employee" or "officer" You're not following the "law" you're living like a lacky that has to jump when you "boss" says jump and if you don't like it you can move to South America (as the only way to surgically remove your Mcdonald's cap and take off your apron, to say "I quit, I don't want to follow McDonalds' "laws" anymore... waaahhhh....)

    (no disrespect to McDonalds employees or people who live in Corporate USA)

    Nothing backs many forms of currency. That's why they call it fiat. It's not that it's fiat, it's that it is centrally controlled by inbred satanic pedophilic sadistic crime families. That's the problem...

    In reality the only true law is the law of contract. The law of consensual exchange of consideration. I would rather trust a series of networked computers distributed around the world, that are open to public inspection then a centrally owned (and thus privately programmed) computer run by gangsters.

    Once a real market is created, with increased supply and demand, people will demand higher quality, and those that deliver it will be rewarded. It may sound unfamiliar because we haven't been living in an open market for so many decades many people forget how it actually works...
    Hi again brother,

    To me, it´s more than clear what bitcoin really is; It´s a ponzi, a pyramid scheme that benefit only the early adopters, who earned 6 million coins, which now are worth millions of dollars, for free.

    I´ve been tracking bitcoin since the begining, and I´m sure about that.

    Do a little research regarding bitcoin and you will get it as well; I´m sure about that.

    As for laws, as I´ve said before, if someone hacks into your bank account and steals your money, the bank will refund you. With bitcoin, you would just lose your money forever and would have no one to file a complain about it.

    There´s a video on youtube called bitcoin ponzi scheme; check it out.

    Raf.

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    Default Re: World financial affairs coming to a head ... potentially within weeks

    Quote Posted by sigma6 (here)
    Quote History has taught us that government/bankings way out of a depression is war.
    That was before the internet [...]
    It was also before this new era of drones ... which only requires a few people to operate from a remote location, yet does the job of potentially hundreds of military personnel. Since the technological revolution, war has become more automated than peopled (taking cyber warfare into account as well).

    The internet is also a big tool for manipulation, just like the MSM. Yes, it has numerous benefits, but there are also disadvantages.

    Egypt's government shut their internet down. I don't think our government could scale that up and do that in America, but it's not outside of the range of possibilities for them to attempt.

    For instance, we know that Microsoft, Lockheed Martin, and DARPA have been working on a Military Network Protocol (MNP) since 2009. This program was apparently exclusive to military networks though.

    We also know that the NSA has been in bed with AT&T and Verizon in the past.

    So, it's no stretch of the imagination to think that maybe they have a counter-system set up for "revolutionary actions" against the government (threatening national security) promulgated through the internet.

    No doubt they can shut down certain websites (heck, they'd just need access to a data center and a sledge hammer -- no need to get technical), and they might have a very long list of individuals in the alternative media realm that they are prepared to silence by virtually making it very difficult for them to make their voices heard over this medium (i.e. Obama's Cyber Warriors).

    When people can't get all the "good stuff" from the internet, they inevitably will turn to the television (a majority). We all know the manipulation tactics of the MSM, it's practically owned by the government/banks.
    Last edited by Jeffrey; 29th March 2013 at 18:59.

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