Submitted by Terence Blackett
“If it ain’t broke, don’t fix it” may have a nice ring to it, however, an engagingly crucial question confronts the majority of us who depend upon jobs, wages, PAYE, bank accounts & all the miscellaneous hardware & software transactions required for daily use. For the UNBANKED and for those especially trying to skirt foreign exchange limitations, limited access to your volume of money in the bank or credit union and the protracted time – taking days to complete simple SWIFT payments has finally come to an abrupt end! A complete ECO-world of Financial Digitalization is HERE!
A very critical question must be asked of the audience: ‘Does the average person have at least three to six months of wages in a savings account or sitting in a safe at home or under a mattress somewhere? Reasons why? Research in the US shows that the average person is “ONE” paycheck away from homelessness, poverty or being completely broke. Across the pond: In Britain, one in three working families is “ONE” paycheck from losing their homes. You can argue with the research but let us be honest folks, volatile market conditions are not inspiring confidence anywhere across our financial ecosystem and (unless you are under some structural adjustment program based on IMF procedural limitations where you are given FREE VALUELESS CURRENCY to further enslave your people) – it is clear why the Bank of England Governor Mark Carney has proposed the creation of a global digital currency as a way to stabilizing the global financial system on the brink of collapse & implosion! What we are seeing is a febrile market allergic to tRUMP’s pathological obsession with Tweeting CRAP across social media platforms regarding China’s one-sided trade and his nebulous tirades towards the FED Chairman fuelling the incendiary promulgation of currency wars (given the weakening nature of fiat currencies like the Argentinian Peso, EURO, Sterling, Yuan & obviously the US dollar). Currently, the Colombian peso is trading at US$3480 to one US$1.00 & don’t ask about the Argentinian Peso. Unsustainable!
The international monetary system is undoubtedly broken and purposefully done so by those who stand to profit by way of control. Fiat currency has fallen from a GOLD STANDARD to a FIAT MODEL since 1973 under Richard “Tricky-Dicky” Nixon where today $1.00 is worth between 3 – 5 cents. How we got here is a battle for another day – suffice it to say that the Vatican Bankers (the Rothschild Dynasty) have done a clandestine job of keeping the “WAGE SLAVES” of the world trapped in a never-ending spiral of boom & bust cycles since the family’s empire began back in the 1760’s under Mayer Amschel Rothschild who founded the banking business in Frankfurt, Germany.
Please note: the reference made about the Rothschilds as the “VATICAN BANKERS” has been patently & rigorously explored through the academic research work of the late Avro Manhattan in his book – “The Vatican Billions: Two Thousand Years of Wealth Accumulation from Caesar to the Space Age” which outlines in exacting detail how the Papacy has been able to control the world’s socio-politics & socioeconomics since its inception in 538 AD, notwithstanding, the (UN)holy See’s penchant for using others to do its dirty work – mirrored in the fiscal morphology of what has come to be known as the world’s economic system created by the Rothschilds in 15th century Europe to launder the nefarious proceeds of the Roman Catholic Church.
Fast forward to 1988, the Rothschild owned & managed British paper “THE ECONOMIST” carried an almost ‘prophetic’ headline: “GET READY FOR A WORLD CURRENCY” some 30 years before the mystical Bitcoin impresario Satoshi Nakamoto apparently minted & created what we have come to know & love as the #Bitcoin craze! Since Bitcoin’s rise to fame, as of August 2018, there are now 1600+ cryptocurrencies in the world and growing and according to a Kaspersky Report 19% just fewer than 14,000 people in 22 countries globally have purchased cryptocurrency in 2018. Added to that, are 17.3 million Bitcoins in circulation as we speak. Only 21 million bitcoins will ever exist which means there are just 3.7 million Bitcoins left to be created, or “mined”. However, the question of how many bitcoins are there is much more complicated.
Why digital currencies matter?
O.J Mandeng, Visiting Fellow, Institute of Global Affairs, London School of Economics & Political Science Institute of Global Affairs in a piece entitled: “Digital Currencies: New Technology & Old Monetary Ideas” cite ‘the recent announcement of JP Morgan, one of the largest U.S. banks, to issue a digital coin, the next stage for a utility settlement coin of a consortium of leading banks and rumours that Facebook has followed suit are indicative that there is demand for new types of settlement media…’ Across the digital divide, cryptocurrencies are gaining serious momentum with even The Jordanian Times asking: “Could cryptocurrency dethrone the dollar?” positing circumstantial evidence as to why digital currencies are the future of all global transactions which could spell the death of the dollar and kindle a firestorm within the DEEP STATE regarding US fiscal hegemony based on world trade & the dominance of the US dollar.
Many are asking why cryptocurrency is such a disruptive phenomenon begs the question itself. Take for example, there is $30 Trillion worth of investment capital out there in hedge funds, stocks, bonds, share – you name it! However, what is so spell-binding is the fact that only 3% of hedge funds have any GOLD in their portfolios and as gold spikes in price heading to a possible $10K per once – just imagine $30 Trillion trying to land on a space of only $1 Trillion? That is where gold is currently at and it will be startling to say the least to see what happens to the price of gold when all the billionaire investors all want a piece of the gold pie given that Bitcoin is the perfect object lesson for all of us as most investors got in when the price was 5 & 6 figures unlike some of us who became early adopters in 2011, 2012 & 2013 when the price was literally pennies or a few dollars maturing to over 20 grand per Bitcoin last year.
Most of the developed world (including the Barbados GOV) is stuck in a vortex of chasing illusive fiat currency. Has the Central Bank of Barbados made any recent acquisitions & investments in gold? How much gold does the Barbados GOV currently hold? Or are they printing useless Bajan dollars which is frankly backed by nothing & being created out of thin air – oblivious to the fact that we are on the brink of a major financial US dollar crisis.
When the market goes belly-up possibly sometime in 2020, hedge fund managers, investors & others will be running to BITCOIN, GOLD; GOLD-BACKED CRYPTOCURRENCY, SILVER, ALTCOINS & OTHER PRECIOUS METALS!
The US Dollar has been on life support since after the DOTCOM boom & bust bubble of the 80’s having borrowed its way into a giant asteroid hole in the ground, where the money tree used to be planted. There is no logic or possibility of ever paying back what’s owed given almost $23 TRILLION on the “DEBT CLOCK” – as our children will be lumbered & laboured with a credit card bill that will be impossible to make even the basic minimum payment on. The markets are screwed as the currency floor that was built after the market crash of 2008 (by Quantitative Easing) has proven to be nothing more than a house of cards, with Donald Trump being the biggest JOKER in the pack – coupled with a looming 2020 US election and the EU & Britain locked in a Jesuit manipulated Brexit, with everyone losing control in a Mexican standoff. If prophecy is right: these 1st world nations are about to meet their Waterloo – war, bloodshed & turmoil!
Avid gold & silver investor, guru & market genius Mike Maloney is also of the opinion that the dollar is on life support which provides for endless fiscal shenanigans by Central Banksters & lying politicians who use spin and smoke & mirrors to control the masses. Thankfully, we are witnessing protestations like never before in human history! From Hong Kong to London; from Paris to Brazil & from Kashmir to the USA – the people are FED UP with all the government LIES that are being spewed through MSM about our politics, the markets and the reality that our current economic model is no longer sustainable or fit for purpose going forward into a new apocalyptic decade (2020s).
So far, the Governor of the Bank of England is the “ONLY” central banker who has expressed a genuine desire to see a less volatile market that can run on a BlockChain with Cryptocurrency at its helm. The GOV suggest something called “Synthetic hegemonic Currency” which in essence is merely a fancy way of saying that a “synthetic currency” like Bitcoin, Ethereum, Litecoin or XRP (notably of course, the Gold Standard Coin [GSC], backed by 999.9 Gold Bullion due in October 2019) which is a utility coin undergirded by a precious metal could be the best harbinger for a renewed & strengthened economic system.
Thankfully, Monsieur Carney is a breath of fresh air within the Crypto-Space as he is shaping future monetary policy before he absconds from the BoE to a more lucrative lifestyle career giving speeches for $100K a pop! The governor stopped short of endorsing any current CRYPTO on the market although XRP owned by RIPPLE is pushing to platform government institutions (as they already work with the BoE), banks, SMEs & others utilizing their Blockchain technology. XRP is currently trading at 31 cents & is worth buying. “With Algorithms that achieve ‘Atomic Swaps’ now available and with other advances in cross-chain interoperability, I believe we’ll soon have the technology to remove foreign exchange risk and reliance on the USD$” according to Bart van Maarseveen.
If nation states like Barbados are to survive what is coming where Bajan people will not be poorer because of IMF structural adjustment, devaluation & an out of control debt spiral upwards hitting the cost of living even harder will indicate that the chances of good living living in what has been the greatest country in the world would have gone down dramatically! The time has come for the GOV in BIM to take a serious look at cryptocurrencies!
Financial literacy does not have to be a prop of a bygone age. The world is changing and we must change with it or be left behind! The future millionaires, multimillionaires, billionaires & multibillionaires are mostly coming from the CRYPTO-WORLD and as more & more companies see the viability of Blockchain technology – most nation states like Barbados will regret not implementing “FIRST MOVER ADVANTAGE” in their national fiscal policies.
Time is short but it’s not too late if we are to underscore what Mark Carney has been saying. On an individual level, I sincerely admonish the BU readers, apologists & others to take as serious look at buying & investing in CRYPTO* as a hedge against what could be on our doorsteps by December 2019 and onwards. If any advice is needed I would be more than happy to provide cutting edge solutions & advice that will assuage fears but also to suggest the route into CRYPTO & which are the most salient & lucrative options at this time given market projections into 2020 – 2023!
Till then, be blessed…