Money not worth the price of paper it’s printed on

Putting your money under your mattress, or your pillow, used to be a great idea. With one proviso: it had to be cash.

But: is cash going the way of ancient dinosaurs and other such animals?

The answer is: yes. And it won’t require any asteroids wreaking havoc on our planet. Our governments will take care of our money without much fuss. You’ll just wake up one day and see that you have barely enough to get yourself a breakfast, and forget about any other meals.

Governments have been looking for and finding ways how to sneak laws and regulations through to omit banknotes and coins as legal tender.

In Canada, for example, the federal government now has the right to announce that banknotes and coins are no longer acceptable as means to conduct any transaction.

As of January 1, 2021, they can pull the trigger any moment they please.

Seen any banner headlines in mainstream media announcing it?

New fad? No, new invasion

The word cryptocurrency has been growing in its currency. What the heck it means? Its source is a Greek word, kryptein. It means “to hide.”

An underground chamber is known in English as a crypt. Apocrypha is known as “writings of dubious authenticity.” How about secret codes, cryptograms, describing a communication in cipher or code, and the entire science of cryptography (“the coding and decoding of secret messages”)?

If you say something is cryptic, you usually mean it was written in code.

So, why these changes so far as money is concerned?

All in the name of progress.

From there to here

We used to exchange goods and services (say, for example, a cow for several bushels of grain). Currencies that would unite individual countries under one roof are a pretty recent innovation, compared to a brand new wife in exchange for two years’ worth of wheat harvest. Currencies based on such standards as gold are even more recent, and they haven’t lasted too long, either.

Many saw promissory notes and other IOU documents as the upper limit. Until, that is, someone replaced that with chequing accounts and cheques as acceptable means of payment.

Of course, some thought that issuing a cheque would take care of their end of their business transactions, forgetting that you had to have some dough in your account to be able to cover the demand by your partner. The cheque, after all, did resemble promissory notes to a huge degree.

Some found it perfectly honourable to issue cheques that would not be covered. The person who had sold you the goods or services would be facing notes from her/his bank, saying they could not honour this instrument. And her/his mail, asking the miscreant for money owed, would be coming back stamped as “no such person, moved, did not leave forwarding address.”

So, some governments found it necessary to introduce laws that would punish this abuse of trust.

Except: recent developments in the business of money are sinister beyond belief.

Plastic, a.k.a. credit cards would follow.

This then-new instrument would allow your lenders, credit card and, hence, credit, issuers, to record if you bought something, and how much you spent on it.

They would also know how good you are at settling your debts, and to make sure that you settle as quickly as possible, they charge you interest on late payments in digits that more than sufficiently remind you of usury.

That usury in and of itself is illegal in most civilised countries matters little.

The idea is known as blockchain. It allows the money institutions to trace every transaction. On top of the credit card information, cryptocurrency lets financial institutions determine who gave you the money, how and what for, and then watch what you spent it on.

Besides, most central banks want all transactions taxed. Cryptocurrency will let them do precisely that.

One of the more benign explanations comes from the Bank of England. Parents will be able to control what their children spend money on.

How frightfully kind-hearted of them.

Or not?

Here’s the issue: as a result, governments will be able to control what we, each and every one of us, can spend our money on. To hell with bank secrecy.

Who knows what?

Governments now claim they have every right to know, for example, whether any of us had succumbed to the clarion call of inoculation. That, in order to be able to force you to obey or else.

This definition of cryptocurrency says it almost all: a digital asset supposed to work as a way of exchange.

Individual ownership records are stored in a ledger (a computerized database using strong cryptography to secure transaction records).

The idea is to control the creation of additional units of cryptocurrency (a.k.a. coins right now, but that can change any time), and to verify the transfer of ownership.

Logically, it would be the issuers who own the data.

Knowing the governments’ appetite to control everything, and the banks’ willingness to share their information, to do everything and anything to keep governments off their backs in other, even more nefarious dealings, any sign of bank secrecy has become a matter of distant past by now.

American economist Martin Armstrong’s group interviewed a representative from the Bank of International Settlements (BIS).

His words were chillingly clear.

When clients use cash, banks today do not know who’s using what. With cryptocurrency, they will not only know precisely what’s going on, and their information will be up-to-date within second. They will also be able to enforce whatever rules and conditions they (or their governments) decide to implement.

So, if you think your money is yours, just because you worked hard to earn it, start thinking again.

One thought on “Money not worth the price of paper it’s printed on

  1. Donate car to charity July 16, 2021 at 06:05 Reply

    Please keep us up to date like this. Thanks for sharing…

    Like

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