No, Jim Willie, the next world money will NOT be gold backed.

[ThePythonicCow]

This is a short thread, with a specific point: the next world money will NOT be gold backed.

One of my favorite commentators, Jim Willie of the http://GoldenJackass.com, has been predicting that the world's next dominant currency, after the US Dollar falls, will be gold backed, starting first with gold backed trade notes. He expects China to be a major player in this transition, and he thinks that is why China (and Russia) are accumulating gold rapidly.

Quite a few other gold bugs are expecting the same thing.

But, as I read Joseph Plummer's Tragedy and Hope 101: The Illusion of Justice, Freedom, and Democracy, it confirms and clarifies some doubts I've been having of this.

In particular see Chapter 5 of Plummer's book, which is also available for FREE on his website, at Tragedy and Hope 101: Chapter 5 - The Main Problem—The Main Solution.

"Debt-money", as I have been calling it for sometime now, and as Plummer also calls it, is far too potent a tool for the control of humanity, in so many ways, that there is not a chance in Hades that the Money Masters of our planet would let it be taken from them. Not a chance.

Perhaps China is accumulating gold because that's where the Money Masters, aka the Bastards in Power, aka The Network (as Plummer calls them) are relocating their power base to next, and they want to be damn sure that there is too little gold and silver in circulation or in the vaults of others for it to ever raise its ugly (in their view) head again as a useful form of money and wealth preservation.

Or perhaps the 0.001% still use gold amongst themselves, as a form of "real" money that they never intend us "little" people to make much use of again.

Or perhaps, as I posted a couple of days ago, the Bastards will find it useful to entice Americans to switch to the Treasury issued Scheiss Dollar by claiming it is gold backed.

Or perhaps gold will be a useful transition investment, with its own engineered bubble, for use by the 0.1% elite to move some of their wealth across from a US Dollar denominated monetary system to the next monetary system.

But, this is plain as day to me ... the next monetary system will be, once again a debt-money system, in which money is lent into existence (unless the Bastards can figure out something even more nefarious.)

Do read Plummer, at the links I gave above, for a wonderfully clear explanation of how various money systems work, and of how debt-money systems are such a wonderful invention (from the perspective of the Bastards in The Network).

... and if you get on the gold or silver bandwagon, be prepared to play it like any other bubble ... there's a time to get on, and a time to get off ... unfortunately you will only ever learn of those times in the light of hind sight.

[joeecho]

There are so many bubbles both growing and popping you'd think we lived in a bubble bath.

[ThePythonicCow]

In line with the above, on a separate but related topic not worthy of its own thread title, the move to digitize currency using block chain technology is also an important piece of the upcoming monetary system.

It won't be Bitcoin itself. That was a trial balloon, to flesh out the technology. Many hours of fine young coders time have gone into developing variations of blockchain based crypto currency. All that will make as much difference on the future of humanity as the many Dot-Com startups of the 1990's that went bust and disappeared, long before turning a profit.

As I see it, the problem, from the perspective of the Bastards in Power, is that the printed US Dollar, in the forms of $20 and $100 bills, and more recently $500 Euro notes, have become the modern day form of silver, a widely traded physical form of money. In particular the Bush/Clinton/CIA/Neocon/Drug-running/ISIS/... factions, and a few rogue nations, have taken to counterfeiting shipping containers full of such US Dollar currency, as a way to self-fund their operations, rather than rely on borrowing money from the banks.

The Bastards in Power want to be the only source of fresh money into the system. All money must originate as a loan from the Banking system. As John D. Rockefeller said of competition in the oil business, "Competition is a sin." The Bastards want no competition in the money business.

I doubt that the Bastards gives two (hyper-inflated to a value of nothing) cents what I spend money on (unless I seriously piss them off ... I should be so successful). But they have been clamping down on "rogue" nations since time immemorial, and they are currently clamping down on the Bush/Clinton/CIA/Neocon/Drug-running/ISIS/... faction in particular. A fundamental lack of any widely accepted paper currency, which might be a realizable goal in the coming decade or two, would help insure that such upstart avoidance of the Bastards next Monetary System cannot happen again.

As to the fate of Bitcoin - see for example this article: Why The Chinese Dominate Bitcoin Trading, and then recall that (in my view anyway, as I've posted earlier) China is where the Elite Bastards in the Network are moving their base of power next. Bitcoin is a technology and human engineering prototype. It will self-destruct, with a little help from the Chinese, in accordance with the wishes from The Network, when its time comes.

But block chain technology will likely underlay the next world monetary system (not gold, and not silver.)

[bearcow]

I'm waiting for someone to back the price of a cryptocurrency with real world assets. Create a trust and use a % of transaction fees to invest in stocks, bonds, precious metals, REITS etc. Diversify the holdings internationally, so no one countries economy can overly influence its price. This would give stability to the price of the currency so the speculators would not be able drastically raise or lower its price in a short period of time. It would essentially do what the gold standard did for the US Dollar back in the day. Giving it real tangible value.

[ghostrider]

Its seems the dark order has an agenda to move away totally from paper money... most money is backed by nothing , a paper I owe you...

[Buzzie]

What I have been wondering is what will happen to crypto currency, digital currency, block chain technology, bit coin, etc. in the event of an EMP or SOLAR FLARE?

[applepie]

Have you looked at bitgold? It is backed by real gold.
bitgold.com

[regnak]

Well Paul I think Jim Willie is incorrect. ( his stuff is excellent worth a read )

The next crisis will be pensions it will be huge and will affect everyone the government spends money like there is no tomorrow. However when social security goes negative ( next year for first time ever 2017 ) things will get bad mostly because of a strong dollar . Europe is cracking at the moment and China and Russia do not have markets big enough to invest billions of Dollars so there is only one game in town which is seen as safe . As huge capital invests in the dollar it will get higher in price and exports will fall through the floor because of the high dollar with rising interest rates the banking industry will implode especially the two big to fail banks. riots etc.

Gold is simply not big enough to be a reserve currency and if it is made so in some regions of the world it will be hunted down and sized by the government . Every bit of it is tracked on a data base and all bank vault boxes will be searched for it . It is a hedge against government not against reserve currency there is not enough of it to be a world reserve currency anyway.

Government is moving towards electronic money mostly to collect every penny of taxes and to stop bank runs ( banks especially the big ones are mostly broke and will start closing in middle of the night )
In Germany the currency was real estate backed not gold in the 1930's when financial crisis hit .

[ZooLife]

Posted by ghostrider (here)
Its seems the dark order has an agenda to move away totally from paper money... most money is backed by nothing , a paper I owe you...

The Federal Reserve has just announced a change to the $100 bill.



Speaking of 'bill', ever notice the origin of that word?

Anglo-Norman bille, from Old French bulle, from Medieval Latin bulla. Compare bull

Latin 'bulla'

1. a bubble
2. (medieval) a papal bull (An official document or edict from the Pope) or other official document sealed with a bulla.

Thought that an interesting tidbit for the thread.

[AutumnW]

Paul, Have you listened to Catherine Austin Fitts on this subject too. Her views align with yours.

[ThePythonicCow]

Posted by Buzzie (here)
What I have been wondering is what will happen to crypto currency, digital currency, block chain technology, bit coin, etc. in the event of an EMP or SOLAR FLARE?

I'm not much worried of an EMP or Solar Flare ... except as one of many possible reasons why I might have to do the best I can to get by with a massively failed infrastructure.

As I noted above, when I referenced the article Why The Chinese Dominate Bitcoin Trading, bitcoin, despite its published nature, is controllable by a single entity, given a sufficient concentration of computational resources. Apparently China, which I speculate will be the new power center of the world's Money Masters, has achieved this control of bitcoin already.

I am confident that the Money Masters of the (well, at least our earthly) Universe will not allow a genuinely strong and independent cryptocurrency to gain broad usage. Rather I figure that bitcoin is in part a technology platform for developing a new method of shared accounting, using block chain technology instead of the current, and centuries old, method of double entry bookkeeping, and in part an experimentation with and a preparation for the public acceptance of such technology.

The Money Masters, the Bastards in Power, the inner circle of The Network, might dream of chipping every human, and using block chain technology with massive, shared, world-wide communication, to track every penny, as it passes even from parent to child as a small allowance or the price of a sweet treat for the child to purchase.

That won't happen, of that I'm confident. More likely, I suspect, such fears of total digital enslavement are just another manifestation of the shadows of our fears and hopes, playing on the surface of our cave wall that we think is our self, our conscious mind.

Rather, I expect that the major use of block chain technology will be between allowed institutions and individuals playing larger roles or moving non-trivial amounts, in the coming monetary system.

[ThePythonicCow]

Posted by AutumnW (here)
Paul, Have you listened to Catherine Austin Fitts on this subject too. Her views align with yours.

I frequently listen to Catherine Austin Fitts, but with the sense that there is a fair bit of separation between her views and my view. I had not noticed her views on the topics of this thread aligning particularly with mine.

Could you say a bit more as to which view(s) align, or could you provide some specific link or reference I should review?

Thanks.

[ThePythonicCow]

Posted by jonsnow (here)
Well Paul I think Jim Willie is incorrect. ( his stuff is excellent worth a read )

The next crisis will be pensions it will be huge and will affect everyone the government spends money like there is no tomorrow. However when social security goes negative ( next year for first time ever 2017 ) things will get bad mostly because of a strong dollar . Europe is cracking at the moment and China and Russia do not have markets big enough to invest billions of Dollars so there is only one game in town which is seen as safe . As huge capital invests in the dollar it will get higher in price and exports will fall through the floor because of the high dollar with rising interest rates the banking industry will implode especially the two big to fail banks. riots etc.

Gold is simply not big enough to be a reserve currency and if it is made so in some regions of the world it will be hunted down and sized by the government . Every bit of it is tracked on a data base and all bank vault boxes will be searched for it . It is a hedge against government not against reserve currency there is not enough of it to be a world reserve currency anyway.

Government is moving towards electronic money mostly to collect every penny of taxes and to stop bank runs ( banks especially the big ones are mostly broke and will start closing in middle of the night )
In Germany the currency was real estate backed not gold in the 1930's when financial crisis hit .

The pension crisis is already underway. The world's largest pension fund, the Japanese Government Pension Investment Fund (GPIF), holding over $1 Trillion US Dollars in value, has already been forced by the US to move its investments from Japanese bonds to US Treasury bonds.

The largest US pension fund, the Social Security program, has long held its Social Security Trust Fund in US Treasuries, and moved its budgeting into a "unified" federal budget in 1969, as a result of a 1968 initiative by then President Lyndon Baines Johnson.

That Social Security Trust Fund remains a major holder of US Treasury debt, and it is not expected by current accounting to run out until 2034. What happens this year or next is that the amount coming into the Fund will decline to becoming less than what is being paid out of the fund. That's rather like saying that the bilge pumps on a massive ship are starting to fall behind, expelling a bit less water than the ship is taking on. In and of itself, the ship passengers will have no reason to notice, for a long time. The current US Ship of State will encounter some much more harmful iceberg collisions, long before the slow Social Security Trust Fund leakage due to insufficient Social Security payments is ever an issue.

I (and Jim Willie) agree with you, that a pension crisis is looming and that many major pension funds are woefully under capitalized (unlike the Social Security fund, which on paper is in good shape for almost two more decades.) Other large pension funds that are not already invested primarily in US Treasury debt risk being forced into such debt, as the failing Neocon government in Washington flails about on its death bed.

===

Regarding a strong dollar, as a consequence of other national and regional currencies failing first ... yes ...that's roughly what we are seeing now, and will for a bit longer, until the rot reaches the center of the current monetary system, somewhere inside the Federal Reserve Bank of New York Building, New York and/or the Marriner S. Eccles Federal Reserve Board Building, Washington, DC. US Exports will be little effected for that time being, as they already emit a "giant sucking sound" (playing on Ross Perot's warning from 1992.)

Only when the US Dollar is no longer the primary reserve currency of the world's monetary system, and is hence no longer accepted as payment in trade, will the existing half trillion dollar a year trade imbalance of the US become painfully obvious to residents of the US., as import prices (it seems that everything is an import here) skyrocket and shelves become bare, in a multi-year effort to restore balance between our imports and exports.

===

Whether or not gold could be the primary currency reserve basis depends on what it is valued at. If gold were say $13,000 instead of $1,300 per ounce, it would be a fine basis. The problem is, as I am claiming in this thread, the Money Masters will not allow that! They strongly prefer debt backed money to gold backed money.

Moreover predictions of the future price of gold, in US Dollars per ounce, based on calculations of what price would be required to get the current (publicly admitted) stores of refined gold to equal in value the current published (another likely misleading number) monetary basis, are in my view false hype. Such calculations are part of the hype machine to fuel the upcoming bubble in gold, but are in no way a reliable way to calculate what will be the top of that bubble.

===

Striving to collect every nickel of possible tax revenue is a key justification given by the Infernal Revenue Collection Agents, yes. However that's a bit misleading. The Bastards in Power behind those Agents use debt issuance, debt collection, and tax collection as three of their more useful public excuses for justifying their efforts to obtain Monetary Enslavement of Humanity, in all ways significant.

[regnak]

great post Paul I do not agree with everything but I will digest it 10/10

[RunningDeer]

Posted by Paul (here)
But, as I read Joseph Plummer's Tragedy and Hope 101: The Illusion of Justice, Freedom, and Democracy, it confirms and clarifies some doubts I've been having of this.

In particular see Chapter 5 of Plummer's book, which is also available for FREE on his website, at Tragedy and Hope 101: Chapter 5 - The Main Problem—The Main Solution.

After reading the first two chapters, I forced myself to put it down to digest. Easy read and eye opening. I sent a copy to my brother. Fingers crossed, he’ll enjoy it.

Thanks, Paul.

[regnak]

Paul you should read the blog of Martin Armstrong most of my information comes from there he is excellent

https://www.armstrongeconomics.com/blog/

excellent worth a read

[Ines]

There are a lot of opinions about "what it use to be", "what it is", what it "might be" and what "it should be". The war that is going on right now between 3 groups for the control of POWER in the USA, is so fierce that nothing can be achived about the Monetary System, until we can clearly KNOW who is going to be really "in charge"; this is "elementary" because of each group interests and objectives. All of this is explain in this Article, and it makes sense to me. Most citizens in the USA seems not to be aware of all of this, much less people in other countries. Read very carefully.

http://neilkeenan.com/neil-keenan-up...c-the-jigs-up/

[phillipbbg]

We can always look to the past for guidance... because the following currency could not be stored for long lengths of time it forced circulation and curbed avarice.

http://encyclopedia-of-money.blogspo...-currency.html

[AutumnW]

Posted by Paul (here)

Posted by AutumnW (here)
Paul, Have you listened to Catherine Austin Fitts on this subject too. Her views align with yours.

I frequently listen to Catherine Austin Fitts, but with the sense that there is a fair bit of separation between her views and my view. I had not noticed her views on the topics of this thread aligning particularly with mine.

Could you say a bit more as to which view(s) align, or could you provide some specific link or reference I should review?

Thanks.

I can't link properly. Sorry! If you do a youtube search for the Dark Journalist and C.A.Fitts with regards the breakaway civilization, you will find it. She used to be very pro gold but now she is pretty convinced that it will go digital and that control of global satellite infrastructure will be key.

[ThePythonicCow]

Posted by AutumnW (here)
I can't link properly. Sorry! If you do a youtube search for the Dark Journalist and C.A.Fitts with regards the breakaway civilization, you will find it. She used to be very pro gold but now she is pretty convinced that it will go digital and that control of global satellite infrastructure will be key.

This would be the latest, and rather recent, interview of Catherine Austin Fitts, by the Dark Journalist:

Source: https://youtube.com/watch?v=IbNdUFAc1RA

Is it one of those that you refer to?