The Globalist One World Currency Will Look A Lot Like Bitcoin

If I appeared to be ambivalent about crypto-currencies like Bitcoin, it's because I was.  I penned a blog on why Bitcoin was a legitimate currency back in 2013 <click here>, and its mainstream acceptance since then has proven that point beyond doubt.

But I also later wrote other blog entries around my concerns about crypto-currencies <click here>, namely how a backdoor in the encryption allowed access which isn't necessarily desirable <click here>.  Could the trapdoor loophole be a creation of the NSA, Secret Service or US Treasury?  Perhaps.  Edward Snowden believed so.  And if Bitcoin has an upper limit of 21 million units, what's to prevent other crypto-currencies from emerging?

For true Bitcoin nerds, here are two insightful articles about crypto-currency encryption algorithms:  <click here> and <click here>.

The first concern is playing out as law enforcement authorities are capturing criminals conducting business and stealing crypto-curriences.  Pseudo-anonymity is not anonymous, frankly.  And the second  concern is materializing as thousands of other crypto-currencies have been created via ICO's (Initial Coin Offerings)--most of which have been funded by Bitcoin or Ethereum, thereby driving up demand for both.  It's analogous to calculus gone bad, as first-order and second-order derivatives are spiraling out of control in an endless positive feedback loop.

At the end of the day, these and other reasons I've mentioned previously are why I remain skeptical about the long-term prospects of crypto-currencies as safe haven assets.  Bitcoin may be a currency, but it is not sound money, in my opinion.

This article by Brandon Smith sums up the future role of the IMF's Special Drawing Rights and crypto-currencies well.

http://www.alt-market.com/articles/3239-the-globalist-one-world-currency-will-look-a-lot-like-bitcoin

The US dollar is now overvalued against almost every currency in the world

I've been referencing the Big Mac Index for many years, mostly as a fun fact, but with high impact on citizens' standard of living.  Today, it's as relevant as ever.

My interpretation of the data is slightly different. A high dollar cost could also indicate relative weakness of the local currency, and rising inflation. In other words, it takes more dollars to buy said Big Mac. But I do agree with the author's conclusion that the dollar is overvalued RELATIVE to other foreign currencies. In other words, ALL fiat currencies are destined to drop in value, some faster than others. That's why it requires more fiat currencies to buy tangible, real assets. It's called a currency war--a race to the bottom. It often leads to trade wars (see Trump's rhetoric) and military conflict.

https://www.sovereignman.com/trends/the-us-dollar-is-now-overvalued-against-almost-every-currency-in-the-world-20704/

“Economy Shattered, Currency Collapsing”: Venezuelans Wait in 6 ATM Lines For Enough to Buy Rice

Zombies won't be the scourge of a future apocalypse.  Hyperinflation will be, thanks to the government printing press.  It's already happening in several countries.  There is no future for them.

http://www.shtfplan.com/headline-news/economy-shattered-currency-collapsing-venezuelans-wait-in-6-atm-lines-for-enough-to-buy-rice_12022016#

The Fallacy that Weakening Your Currency Generates Prosperity

The author is correct in declaring debasing one's currency diminishes the purchasing power of a nation's citizens, thereby dampening economic growth.  But he offers no solutions in this article.  Hedging against reduced purchasing power requires owning hard, tangible assets, including physical precious metals.


http://charleshughsmith.blogspot.com/2015/12/the-fallacy-that-weakening-your.html

Ron Paul: “All Wars Paid For Through Debasing the Currency”

http://www.shtfplan.com/headline-news/ron-paul-all-wars-paid-for-through-debasing-the-currency_07302015

U.S. Launch Of QE4 To Trigger Frightening Bond And Currency Collapse, Hyperinflation And A Silver Move That Will Shock The World

http://kingworldnews.com/u-s-launch-of-qe4-to-trigger-frightening-bond-and-currency-collapse-hyperinflation-and-skyrocketing-gold-and-silver/

Man Asked To Speak To Chinese Officials Says China To Back Currency With Gold, Triggering A Major Crisis In The West

http://kingworldnews.com/man-asked-to-speak-to-chinese-officials-says-china-to-back-currency-with-gold-triggering-major-crisis-in-the-west/

Surprise! Guess which currency has stronger fundamentals— the dollar or… ruble?

http://www.sovereignman.com/trends/surprise-guess-which-currency-has-stronger-fundamentals-the-dollar-or-ruble-15765/

The morning after: What happens when a government destroys its currency

http://www.sovereignman.com/trends/the-morning-after-what-happens-when-a-government-destroys-its-currency-14925/

Metals, Currency Rigging Is Worse Than Libor, Bafin Says

http://www.bloomberg.com/news/2014-01-16/metals-currency-rigging-worse-than-libor-bafin-s-koenig-says.html

BitCoin Is Now Officially A (Schrodinger) Currency

I beat Bloomberg News and zero hedge to the punch with this critique of BitCoin several weeks ago:  http://gregnguyen.blogspot.com/2013/06/bitcoin-is-it-legitimate-currency.html

Here is the latest news on BitCoin:

http://www.zerohedge.com/news/2013-08-10/bitcoin-now-officially-schrodinger-currency

How Our Monetary System Works And Fails

http://youtu.be/JUFxsZF5E48

Bundesbank Warns China's Currency "On Its Way To Becoming Global Reserve Currency"

Folks, myself and the blogosphere have been warning of this imminent shift in reserve currencies.  The cat is now out of the bag.  The USDollar will lose its global reserve currency status.  The loss may not be complete--it may share that privileged status with other currencies.  But it is inevitable.

Be prepared for much higher import and domestic prices--on everything.  The outcome may not be immediate, as the USDollar may continue to temporarily strengthen as geopolitical fires emerge in other parts of the world.  But the dollar's safe haven status will eventually be challenged as the rest of the world wakes up to its debasement.  Counterfeiting--even if "legalized" or institutionalized, will have market consequences, intended or otherwise.

http://www.zerohedge.com/news/2013-07-06/bundesbank-warns-chinas-currency-its-way-becoming-global-reserve-currency

Even A Pawn Star Knows "Governments Can Screw Up The Currency"

How come this pawn broker can figure out something our esteemed Fed Chairman Bernanke cannot?

http://www.zerohedge.com/news/2013-06-28/even-pawn-star-knows-governments-can-screw-currency

China, Brazil sign trade, currency deal ahead of BRICS summit

This is more evidence that the reserve currency status of the USDollar is dissipating.

http://in.reuters.com/article/2013/03/26/brics-summit-china-brazil-currencies-idINDEE92P08O20130326

Our Collapsing Economy and Currency

http://www.paulcraigroberts.org/2012/12/01/our-collapsing-economy-and-currency/

Dollar no longer primary oil currency as China begins to sell oil using Yuan

I've warned of this day coming many times, and despite complete neglect by the US media, this is probably THE biggest event in decades affecting the welfare and standard of living for all Americans. The USDollar is about to lose its global reserve currency status, as the "petrodollar" is no longer the international trade settlement currency.  Countries will no longer need USDollars in cross-border (oil) transactions.  This will have negative ramifications for the strength of the dollar--as well as reduced demand for US Treasury bonds.  Sinking bond prices = rising bond yields = rising interest rates = US government bankruptcy.

Expect our purchasing power to plummet, i.e. rising consumer prices despite stagnant and declining incomes.  A sinking economy will also mean social unrest.  See southern Europe.

http://www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan

Deposit Flight From Europe Banks Eroding Common Currency

http://www.bloomberg.com/news/2012-09-18/deposit-flight-from-europe-banks-eroding-common-currency.html

Presenting America's "Fresh Start" Currency

Speaking of banana republics: 

http://www.zerohedge.com/news/presenting-americas-fresh-start-currency

In A Currency Tug Of War The US Dollar Loses

As I've posited before, even if you're the tallest midget in the room, you're still a midget.  Problems in the Euro zone are real, but mere distractions from the US' own systemic financial problems, and they are just as big domestically, if not bigger than those across the pond.  Euro sovereign debt crises create headlines in order to mask US insolvency.  Don't let the media divert your attention away from protecting your assets.  It will get uglier here in the US.

http://www.zerohedge.com/article/guest-post-currency-tug-war-us-dollar-loses