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Article - How Individuals Can Reset The Financial System

Discussion in 'The Main Board' started by twp, Feb 28, 2019.

  1. twp

    twp Administrator Staff Member

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    At first glance, this idea may sound either impossible or even revolutionary. You can read the short article and read the author's analysis for the conversion to a Gold and Silver metal based economy.

    Sure, not everyone and not every business (certainly none of our governments) will be willing to make this conversion. The argument then becomes: how long can the present fiat money system continue to function?

    This concept will face stiff resistance from the banking industry AND from every level of "elected" government. Let that resistance serve as a warning flag about who to trust with your money (real money which you hold).

    Remember that you don't own any wealth held by someone else in your name (think of banks and in particular, the Federal Reserve Bank). More importantly, fiat money has no value beyond what you can convince someone else to give to it.

    Read:
    https://projectchesapeake.wordpress.com/2019/02/24/how-individuals-can-reset-the-financial-system/

    Look around, read the news and note who is holding the physical Gold and Silver metal. Why are governments keeping stockpiles of these metals? You don't suppose that they think it will be valuable someday? Naah! That's just crazy talk... Right?
     
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  2. Atlas

    Atlas Administrator Staff Member

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    I do wonder if we could ever go back to a gold standard. Is it even possible?
     
  3. twp

    twp Administrator Staff Member

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    A gold standard, as we had prior to the 1930's, no. It may have to be a mix of paper money (convertible to metal on demand), an electronic system (lots of problems with that, not the least of which is that it is too easy to control/manipulate), and a physical metal currency (coinage).
    TPTB will fight against a physical currency because it can't be tracked (control and taxation...).

    This will NOT be an easy change, if it occurs at all. Too much change of power/control, either TPTB wanting to take it from the citizens or the citizens refusing to grant power/control to government and banks. Either way, it will be hard on the citizens (bottom of the pyramid).
     
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  4. Bunker Bob

    Bunker Bob Member

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    This became an incredibly relevant discussion when bitcoin was at the height of its popularity. An alternative to fiat currency seemed too good to be true... and it was. People just used bitcoin to make a quick buck without capitalizing on the potential to move AWAY from government controlled currency. Is it possible to have an alternative? Yes. But as you both mentioned, the government and bank opposition will be fierce. Any buy-in may be due to self interest. Japan made a lot of money off of bitcoin, as did plenty of companies in the financial services industry.
     
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  5. Atlas

    Atlas Administrator Staff Member

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    When I first heard about bitcoin I thought it could be a good thing. After a while it kind of went south as it almost became a commodity rather than a currency. From there it was just a game of manipulation like anything else on wall street.

    It kind of proves that there is no way to use the bankers system against them. At least I dont thing there is. I've always believed that the only way is outside of their system, but i have no idea how to do that.
     
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  6. twp

    twp Administrator Staff Member

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    @Atlas, bitcoin started as an attempt to operate outside of the banking system. Bankers and government could not allow that to happen (loss of control) and the legislated the crypto-currencies into their system...

    Barter, both legal and illegal, remains mostly outside of the controls, but they are still trying to take over. Look at the larger barter venues, such as the drive-in movie lots which are used for barter "fairs" during the day. They are licensed and taxed up the wazoo. That also makes them more expensive for the buyers and sellers. We tried that for a while, but could not cover the cost of space rental.
     
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  7. hypnos

    hypnos Well-Known Member

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    Cryptocurrency has potential now to be safer and more free than other electronic means of purchase today. I think what people are really missing is how it's used, and what it is used for.

    In an economic ecosystem, free markets must exist, it is human nature. Those markets may be mostly illegal, but until cryptocurrency came, their wasn't a system similar to cash, that could be used in a digital environment that would allow a virtual free economy to flourish. That time is past.

    You cannot eat gold, or silver, there is very little practical things you can do with it. Why the fixation? Because of scarcity.

    Bitcoins and other virtual items of denomination like them benefit from the same form of scarcity because A) they require time and massive system resources to produce.
    And B) the need for these "items" are in very high demand because of the markets they support.

    Thats what makes a bunch of 1s and zeros, set at an arbitrary number of = 1 bitcoin worth much more than an once of gold. Because they support a hungrier, and faster growing market and need for private purchases in a system completely reliant on technology.

    The dollar is easier to counterfeit than a bitcoin, gold itself is probably easier to fake with current technology than a bitcoin, infact, the best counterfeit US currency comes from North Korea, and according to the silly people who control our federal reserve, they believe that North Korea has stopped making it because they can no longer detect the counterfeits...that is silly. They probably have gotten past our ability to detect it, and considering that, there may be no accurate means to know what our inflation rate really is. Precious metals, cash, bitcoins all require civilization to be worth anything.

    To be certain if we continue on our current course, crypto currency will likely rule our financial systems someday in the future at least borrowing from that technology. And if the worst happens, ammunition will be a recognized form of currency. But you can't eat gold, gold won't kill a dear for you. Try to buy a chicken with gold in the apocalypse and you may get a $10,000 chicken.
     
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  8. hypnos

    hypnos Well-Known Member

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    My vote is for an ammunition based economy. That actually makes sense.
     
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  9. hypnos

    hypnos Well-Known Member

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    All economies have ebbs and flows, crypto is global, what should be interesting is the vastness of the digital black market economy. That economy will boom as well, its just getting started, maybe we should consider that. (And the accompanying rise in physical crime) and actually, what if more and more people begin to use it, it becomes more common and more stable.
    What does that do to our curency? What is the future for paper notes then?

    Suppose our various national currencies become replaced by the digital market completely. How will cyber security risks effect us in that situation? Much more than they already do, I'm sure.
     
    Last edited: Mar 13, 2019
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  10. hypnos

    hypnos Well-Known Member

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    I'm a little dumfounded that many other preppers I've talked to about crypto aren't more interested. It mines like gold and spends like cash...it's a hybrid of paper currency and gold in many respects and much closer to what people like you and me actually want, but instead we struggle in vain to convert others to how things were done in the '30s when its 2019. Personally I have a hard time with that. Precious metals have their place, don't get me wrong.
     
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  11. hypnos

    hypnos Well-Known Member

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  12. Atlas

    Atlas Administrator Staff Member

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    Crypto currency is a bankers wet dream. That is why most preppers are against it.

    I understand what you are saying, but the old fashioned side of me still looks at it from a standpoint of it not being tangible. If I can't hold it in my hand it isn't real. That is a very real saying, and for good reason.

    That being said, I do think that crypto currency has a place in preps. It's a very real asset at this point, and that can't be denied. I can't personally recommend any one part to invest in, but I do think that there is a place.
     
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  13. hypnos

    hypnos Well-Known Member

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    The internet, and radio waves are real but you can't touch them. Crypto is just as real. But i completely understand what you are saying. I wish that twps idea would work, and it could, but not without participation in numbers. A banker's wet dream? I don't think so, no wire transfer fees, no broker, no accountants, no tax, sorry...when you no longer need the services of a banker or broker how is it a advantage for them?
     
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  14. Atlas

    Atlas Administrator Staff Member

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    I say that, because there is absolutely no proof that cryptocurrencies are what they say they are. How do you know for a fact that there are only so many? Even more importantly, how do you know for a fact that the richest people in the world didn't think this whole thing up to begin with? Of all people in the world who have the resources and the reason, it is the worlds central banks who first come to mind. A one world currency with literally no backing that is controlled by the man behind the curtain so know one really knows who to blame for economic issues anymore.

    If you look at the history of money and how banks have slowly replaced tangible items with nothing but some 0's and 1's it kind of makes sense.
     
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  15. hypnos

    hypnos Well-Known Member

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    Actually there is tons of proof for why bitcoins and other currencies are a finite resource. And no, i don't believe central banks created them, why would a massive financial institution create something they can't control, they can't tax, or charge you service fees, that's not how banking works. Are there string pullers? I'm sure there are. Do i completely understand the mathematics behind why crypto's structure prevents counterfeits on the block chain? No. But some people actually do, and when i hear enough brilliant people say the same things i have a tendency to believe them.
    You cannot print U.S. currency in you basement, that is illegal, but you can pan for gold....you cannot generate phony crypto because of its structure but you can use your computer to "mine" it. And you can do it without the Government taxing you, or having to pay a service to test its purity.
    I "know" it is what it is as much as "know" that i can create an account, wallet etc, and store funds on it without proof of residence , ID ETC. And spend it with those that accept it.
     
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  16. Atlas

    Atlas Administrator Staff Member

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    Show me proof that cryptocurrencies aren't made by the bankers. I would love to have proof my theory isn't correct.

    Taxes, yeah it will happen sooner than later. I would put money on that.
     
  17. Atlas

    Atlas Administrator Staff Member

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  18. twp

    twp Administrator Staff Member

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    I can't believe that banks don't want to be involved in the crypto-currencies. They want to "nickle and dime" every step of the process AND control access to the servers which have the records. Right now, they are not pushing for access to the actual account records which are encrypted behind the blockchain firewall... But give them time and they will define a reason why they (and government) should have that access.

    My guess is that the approach will cite the use of blockchain and cryptos by "criminal" elements (aside: as if the bankers aren't criminal themselves...). Keep an eye out for such excuses to gain access and control.

    With all due respect to accountants: Beware Of Bean Counters. They Will Eat Your Profits. What Is Left Goes To Taxes.
     
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  19. hypnos

    hypnos Well-Known Member

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    https://cryptocurrencyworks.com/

    Yes the government is *trying* to tax it, unsuccessfully.
    https://blockgeeks.com/guides/what-is-cryptocurrency

    I can't prove that your theory isn't correct, just like i can't prove spaghetti monsters don't exist.

    What i can do is point to the people who where responsible for its early creation. Its your theory, maybe you can prove it to be true...but you won't have much proof that it was created by banksters. They are trying to create their own NOW but that isn't how it started, and that isn't the only type of crypto.
     
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  20. twp

    twp Administrator Staff Member

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    Excuse me? Please, placing words in my mouth fails.

    I emphatically did *NOT* say that cryptos are the creation of bankers/banksters. Those may be your words, but not mine.

    I AM saying that the banks see a source of wealth/control in cryptos, of which they want a cut. That makes their actions, at the least, to be suspicious.

    I offered a speculation about how they (banks) might go about obtaining that cut. It involves obtaining control and access to the crypto/blockchain system. I'll further speculate that the bankers will try to create their own versions of crypto-currency. Speculation only at this point. Something to watch...

    Further speculation: If a bank can create their own version of a crypto-currency, most likely using the block-chain system, then they can also control who and how wealth may be moved to and from their crypto-currency. They would retain control AND own the servers on which the crypto-currency exists.

    I say NO to that and will not invest. You can do what you want... It's still a free society, right?
     
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