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bitcoin and the establishment- very important
Will Digital Currency Replace the US Dollar? Wall Street Strategy to Make Bitcoin the Global Currency?
By Matthias Chang
Global Research, December 10, 2013
Future Fast Forward
Theme: Global Economy
Bitcoin – The Potential Monsanto of Digital Currency?
Its ultimate objective is to control, control of the “alternative currency” when the Petro-Dollar collapses. Bitcoin is “GMO Money”!
In my last article posted on 22nd November, 2013 to the website, www.futurefastforward.com entitled ―Bitcoin – The Flipside Of Bernanke‘s Digital Money ‗Printed / Created‘ Out Of Thin Air‖, I promised to write a more detailed account of Bitcoin after you, the readers have embarked on your own research and revert to me on your findings. Let us now compare our respective research.
From my research, I have come to the following conclusions.
The Premise for Bitcoin
Bitcoin started quietly, almost a non-event, but lately (especially in 2013) it has been aggressively promoted by Mainstream media, but more importantly by some very important and powerful financial elites.
This ought to alert anyone who is concerned about the state of the dying global fiat money system.
To me, this is the irrefutable admission by the financial powers that there has been in place a strategic plan for the replacement of the US dollar as the global reserve currency and a restructuring of the global fiat (paper) money system with a global fiat (digital) money system – Bitcoin.
It is also important to note that just as the US dollar (the lynch-pin of the fiat monetary system) is being buttressed (―backed‖) by oil (energy) giving rise to the Petro-Dollars, the new global monetary system based on Bitcoin is likewise buttressed by ―energy.
In my book, “The Shadow Money-lenders and the Global Financial Tsunami” which is a compilation of all my email ―Red Alerts‖ which I had sent out to friends all over the world from 2006 to early 2008, I had warned of the impending collapse of the fiat money system in 2007. I had also warned of the intense currency wars that would follow. This has all come to pass.
The introduction of Bitcoin is another admission that the financial powers are also considering the replacement of the FED as well as the central banks of the developed economies (i.e. ECB, BOE, BOJ etc.) sometime in the future and substitute the control by central banks with super-super computers networking the global economy controlled by a handful of techno-corporations and behind this front, the power of the 0.01 per cent financial elites. Let me assure you that this is no conspiracy theory.
The template may or may not follow Monsanto‘s control of the global food-chain via the control of seeds, the ―currency of the food-chain‖. It is sufficient to bear in mind that what is necessary is to control the technology that creates Bitcoin, the ―monetary seed‖ for the new financial system.
Bitcoin is the latest financial weapon of the global financial elites in the present intense currency war and will be used by the financial elites aligned with the Western Axis to compete against the gold–backed currencies of countries led by China and Russia! The Western Axis powers hope to triumph over the powers of the gold-backed currencies through the global internet matrix. But, I have my doubts.
The Strategy to Make Bitcoin the Global Currency
To replace the present fiat monetary system, the global financial elites have employed the following strategies:
To demonise Gold and depress the true value of gold;
To promote Bitcoin as the ultimate alternative currency by price manipulation; and
Energy (oil, gas & computer power) to back Bitcoin.
In the first phase of this grand strategy, the Controllers of Bitcoin have decided to focus on the markets of the developed world. This is common sense as the technological infrastructure is already in place in the developed world.
In this phase, the Controllers would by-pass the global banking institutions and will focus on the existing alternative payment systems widely used in internet marketing such as PayPal, E-Bay, MoneyGram etc. This is because, Bitcoin can only survive and grow in the internet environment as it is a technology-based currency. Bitcoin cannot be used in the same way as fiat paper money is used. It is not a “cash” currency. It is digital!
This makes sense because in our daily lives, more and more transactions are being facilitated through the internet, our mobile phone, credit cards etc. Paper money is used less and less.
In the Second phase, and after assuming total or near total control of all internet markets, only Bitcoin would be accepted as ―legal tender‖ for payment of goods and services. No Bitcoin, no sales for goods and services! The Controllers would not need any laws to compel full compliance as in the present case with fiat paper money when laws must be enacted to compel acceptance of paper money as ―legal tender‖ in full discharge of all debts!
In the final phase, it is my belief that banks will be transformed from their present form and structure to be inter-alia ―Bitcoin Exchanges or Clearing House‖. This is one of the items in the Controllers‘ Wish List.
This is indeed a very elegant structure and it will surely appeal to all reformers who are against central banks, the present structure of global banking institutions and paper fiat money. The call to end government / Central Bank control of money would no doubt be greeted with enthusiasm and relief given the present policies of the FED and other central banks enriching Wall Street and the 0.01 per cent of the global population.
The debasing of global currencies is being carried out with the approval and connivance of the global financial elites as a prelude to the use of Bitcoin because the present financial architecture can no longer be sustained. The debt-based fiat money system is so toxic that it is beyond repair.
A Utopia of Equality or Jumping from the Frying Pan to the Fire?
A good starting point in this discussion is to know about the origins of the internet since Bitcoin can only survive and grow in such an environment (I am merely simplifying the discussion to avoid unnecessary technical jargon).
Let me quote Wikipedia:
The history of the Internet began with the development of electronic computers in the 1950s. The public was first introduced to the concepts that would lead to the Internet when a message was sent over the ARPANet from computer science Professor Leonard Kleinrock’s laboratory at University of California, Los Angeles (UCLA), after the second piece of network equipment was installed at Stanford Research Institute (SRI). Packet sitched networks such as ARPANET, Mark I at NPL in the UK, CYCLADES, Merit Network, Tymnet, and Telenet, were developed in the late 1960s and early 1970s using a variety of protocols. The ARPANET in particular led to the development of protocols for internetworking, in which multiple separate networks could be joined together into a network of networks.
The Advanced Research Projects Agency Network (ARPANET) was one of the world’s first operational packet switching networks, the first network to implement TCP/IP, and the progenitor of what was to become the global Internet. The network was initially funded by the Advanced Research Projects
Agency (ARPA, later DARPA) within the U.S. Department of Defense for use by its projects at universities and research laboratories in the US. The packet switching of the ARPANET, together with TCP/IP, would form the backbone of how the Internet works. The packet switching was based on concepts and designs by American engineer Paul Baran, British scientist Donald Davies[ and Lawrence Roberts of the Lincoln Laboratory. The TCP/IP communication protocols were developed for ARPANET by computer scientists Robert Kahn and Vinton Cerf.
Should we be really surprised by Edward Snowden‘s exposé that NSA in conjunction with other intelligence establishments have total control of all communications through the internet, smart phones etc.?
What about some of Bitcoin‘s technologies?
Are they also based on intelligence establishments‘ technologies?
One of the technologies is derived from the US Intelligence establishment - the objective is to ensure that communication between operatives would remain anonymous.
The program that ―hides user identities‖ is TOR, developed by the US Naval Research laboratory and endorsed by Senator Hillary Clinton (Schuman's former co-Senator from the state of New York) as ―an important tool for freedom of expression around the world‖. Indeed, the TOR Project claims that over 80% of its funding in 2012 came directly from the U.S Government [Source: Tor Project Annual Report 2012]
Therefore, it is contended that by using this particular technology, transactions between two persons using Bitcoin would also be anonymous! This assumes that the inventor of the technology would not be able to access such transactions and discover the identity of the users. Founders of Facebook, Google, Yahoo, Skype etc. are promoting Bitcoin. And these companies have all been used by the NSA to gather your personal details.
The Controllers of Bitcoin are marketing Bitcoin as the latest development of Edison’s Dollars, the financial proposal of the great inventor Thomas Edison who during the 1920s depression opposed the Federal Reserve‘s control of the US dollar and introduced a new concept to help farmers get interest free financing for their harvest. It was a commodity-based ―currency.
According to Edison: ―
…the relative value of the earth‘s produce appears to be constant, a money unit representing basic commodities and nothing else would be equally constant, that…and further, since the relative value of the earth‘s produce is constant there is no reason why the farmer should not finance himself, as the gold miner does, simply by turning his output into money directly.‖ (Source: New York Times, 1922.)
Thomas Edison wanted to reduce the power of the FED. Instead of centralising power in the hands of the FED, Edison wanted to decentralise the control of money across 36 commodities and 12 warehouses that stores these commodities so as to enable interest free financing for the farmers.
Therefore, comparing Edison‘s dollars to Bitcoin is like comparing chalk and cheese!
To hoodwink the public about the history of Edison‘s dollars, the Controllers refer to three economists that supposedly laid the basis for Bitcoin and how they would get rid of the FED –1) Irving Fisher, 2) John Maynard Keynes and 3) Dr. Milton Friedman. The mouthpiece of this historical revisionism is none other than Michael Robinson, a Pulitzer Prize nominated financial journalist, as well as an adviser to some venture capital funds.
Yet, these three economists are ardent supporters of fiat money and the FED.
Therefore, the theoretical foundation for Bitcoin is in fact the fiat money system as we know it today.
What the Controllers are advocating and as I have been saying for so long, is the replacement of one kind of fiat money (paper fiat money) with another kind of fiat money (digital fiat money)!
If the Controllers are following the teachings of the abovementioned three economists, there cannot be any other conclusions.
Michael Robinson attributed Dr. Milton Friedman as saying, “We don’t need the FED. Replace the FED with a computer… that would print a specified number of paper dollars, same number month after month, week after week, year after year…”
So, here we have the great idea allegedly from Dr. Milton Friedman, replacing the FED with a computer. It begs the questions, ―Who controls the computer?‖ Surely, if a specified number of paper dollars are to be printed, month after month, week after week, year after year what is there to prevent the Controller of the computer to change the number of paper money to be printed and the frequency of the printing? After all, the Bitcoin system is such that no one knows who actually controls the system.
It has been said that the original amount of Bitcoins that has been ―mined‖ (i.e. created by the computer) is only 21,000,000 (21 million). This is to convey the impression that Bitcoin is limited and cannot be created out of thin air. The Controllers must take us for fools, as there is absolutely no difference between Bernanke creating digital money out of thin air by a click of a computer mouse and Bitcoin being created likewise by a click or several clicks of a computer mouse. [may be inaccurate]
Then comes the sales pitch. If you ―invest‖ (buy) Bitcoins early (or has bought them in 2009) you would be very rich now, as the price of Bitcoin has skyrocketed to over US$1,000. And the price could go as high as US$100,000. This is a Ponzi scheme. The inner circle or ―founders‖ who created the initial amount of Bitcoins (not more than 21 million Bitcoins, valued at US$1 per coin) would have made a killing in the Bitcoin market.
There is absolutely no difference to Bernanke‘s FED launching QE 1, QE2, Twist, QE3 which benefited in the first instance the fat cats of Wall Street (who paid themselves huge bonuses amounting US$Billions) before the money starts trickling down to the masses. And when the money reaches Joe Six-Packs, the purchasing power of the paper money or the FED‘s digital money would have depreciated sharply.
The FED‘s monetary base up till 2008 was a mere US$800 billion + or – 5 per cent. It was somewhat limited (like the 21 million Bitcoins). Then the FED and Wall Street got greedy and it is now over US$ 3 trillion! Source; Money & Markets
Up to the time of the Lehman Brothers bankruptcy the FED’s monetary base stood at $849.8 billion. As at October 30, 2013 it has risen to a whopping $3,607.7 billion. That’s an expansion of $2,757.8 billion — over $2.7 trillion. This $2.7 trillion expansion has all taken place within just six years and one month. And it is continuing at the pace of US$85 Billion per month. Source: US Federal Reserve Bank
It would be very naïve for anyone to think that the private corporations that controls Bitcoin, having made US$ Billions in less than a year would not aspire to make US$ Trillions by ―mining‖ (i.e. creating) more Bitcoins, no different from the FED‘s QE programs. Better still the Controllers do not even have to account to anyone for any additional amount of Bitcoins thus created as no one would be wiser.
Bitcoin supposedly backed by “Energy”
The Founders and Controllers of Bitcoin say that Bitcoin is ―backed by energy‖ in that in the future scenario, all energy consumption would have to be paid by Bitcoin. This sales pitch is no surprise to me as energy (oil and gas) keeps the global economy humming – we need energy to drive our cars, light up our buildings, keep our homes warm and cozy during winter, to cook our food etc. And since Petro-dollar is no longer in fashion it would surprise no one that the Seven Sisters (i.e. the seven largest oil companies in the world led by Exxon) would want a big slice of the pie, more so when it is ―Made in the USA‖!
So Petro-Dollar is replaced by Bitcoin!
Guess who are also very eager about Bitcoin?
To name a few – Warren Buffet (the insiders‘ insider), Bill Gates (―It‘s a techno tour de force.‖) and Eric Schmidt, Chairman of Google (It‘s changing society‖). These three and the other members of the 0.01 per cent have already cornered the Bitcoin Ponzi scheme. If you are one of the late-comers, you are one of hundreds of thousands being led to the slaughter house.
Do you for a moment think that these guys would change the FED for a computer if they are not in control?
Given the above scenario, it is my belief that the next global war would be fought in Cyberspace – a cyber war that would destroy economies by paralysing the financial system, specifically the payment system.
However, I am placing my bets on a Gold-Backed Monetary System for when the Bitcoin Ponzi scheme is exposed people will scramble for gold and gold-backed currencies.
Just imagine watching your computer digits VAPORISED BEFORE YOUR EYES and there is nothing you can do about it.
All your transactions are anonymous. The only evidence that you have Bitcoins is in your ―Bitcoin computer ledger‖ or your ―Bitcoin wallet‖. It is not in a vault. The money trail is wiped out. Who do you complain to since the reason you went into Bitcoin is to maintain your anonymity, your privacy and as the promoters of Bitcoin keep touting – to escape from the taxman?
Come back to reality!
Don‘t believe the hype from Mainstream media such as:
Forbes – “The currency of a US$10 trillion global market. Mankind is better for it.”
Time Magazine – “Governments couldn’t debase it. Banks couldn’t blow it. Perfect money!”
Fox Business – “May become the world’s payment method.”
MasterCard has jumped on the bandwagon – “Desperate times call for desperate measures.”
They know that the petro-dollar is dying and soon would be dead. They need a quick replacement. Uncle Sam does not have gold. Next best alternative, and the sales pitch – virtual gold!
When people such as Lisa Shield, VP of the Council for Foreign Relations are pitching for Bitcoin, you know that the elites of the N.W.O. are really desperate.
The writing is on the wall.
Petro-dollar is being replaced!
The US$ as the global reserve currency is dying!
It has been contended by some analysts that the future global currency war would be between Bitcoin versus Gold-backed currencies. I have my doubts, but make no mistakes the next war will be a war for currency supremacy.
Countries of the developing world like Malaysia with little or no gold reserves would be devastated.
There is still time to accumulate gold, but not much.
Whatever the future scenario, we better be prepared for it.
edison's revenge on the dollar:
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