“Digital Dollar”, fake Bitcoin, real means of oppression – Bitcoin – Cryptocurrency 2020

The proposal to create a “digital dollar” to distribute the $ 1,200 promised by the Trump administration to compensate for the economic losses linked to the coronavirus epidemic was not adopted by the US Senate.

In the tumult of the pandemic covid19 (the United States is the most affected), we discovered a very interesting thing this week: powerful American senators are seriously considering allowing the Federal Reserve (US central bank) to issue a “digital dollar”.

The bill was only a few pages in which we were able to discover a familiar vocabulary for connoisseurs of Bitcoin. The words “Ledger” and “Wallet”… Difficult not to guess here a attempt to amalgamate with cryptocurrency or to suspect that this distribution of free money against the backdrop of a pandemic is being exploited to prepare minds for the disappearance of cash

“You should never spoil a good crisis”

Rahm Emanuel

Let’s start this article by clearing up any misunderstandings: banks will never create a cryptocurrency like Bitcoin. Why ? Because the modern money creation system is a tool of oppression. Bankers hate Bitcoin and have told us time and time again:

“Bitcoin is a scam. “

Jamie Dimon, CEO J.P Morgan, the most powerful American bank

“Bitcoin is a bubble, a Ponzi scheme and an environmental disaster. “

Auguste Carstens, director of the BIS, the central bank of central banks. The banking holy or bank rules are enacted (Basel Rules)

Auguste Carstens, alias Fat-Finger. One wonders who the Ponzi is ..

We could continue the list for a while … It’s a fact, bankers perceive Bitcoin as a existential threat their highly sophisticated system of debt bondage with interest. Always create more money and inflate the bubbles in a crazy inflationary headlong rush, that’s the real business model banks. To convince yourself, ask a young person entering the workforce what he thinks of real estate prices …

Blessed is the one who can make money

The power of bankers lies precisely in the can always lend MORE money because their wealth is directly proportional to the debt they generate.

In an imaginary world, where there is only one currency – in addition an impossible to duplicate currency like Bitcointhe banker no longer really needs to be, hence their very palpable anxiety. In this parallel universe, the quantity of money would be fixed once and for all and would change hands according to the fortunes. He would then ask himself the question of knowing what to do against those who decide to hoard and drain the economy in order to get rich again and again, until becoming… .. “banker”! Bitcoin can’t do much against hubris But this is another story. What interests us here is to highlight the fact that inflation is a tool of domination.

Inflation orchestrated by banks benefits the rich and is suffered by the poor. The wealthy take advantage of the inflation for the simple reason that the price of their possessions increases without doing anything. The more you have, the more paltry the inflation of basic consumer products compared to the appreciation of your goods. Conversely, those who have nothing undergo inflation head on, without being able to protect it. This results in one mechanical increase in inequality on the long term. A process painless, diffuse, which eats away at our purchasing power a penny at a time.

Leadership And The Boiling Frog Experiment

Of course, a world in which debt is outlawed – that is, with a fixed amount of money available – would not imply a world without inflation. The law of supply and demand is immutable and the scarcity of raw materials inevitably creates inflation. Without counting the unexpected as severe weather which would ruin part of the harvest with the consequence of a temporary rise in prices. It’s obvious, but it’s a natural inflation and not orchestrated by the infinite increase in debt. Because we can never say it enough: in our modern system of money creation, the amount of money circulating in the economy is exactly equal to the global debt. Debt is the shadow of money.

The state needs inflation

We have just explained that banks profit from inflation because the latter comes from ever larger debts which earn interest to bankers. The caste of the wealthy also benefits by capital appreciation. But there is a third beneficiary of inflation.

This is none other than the state. The reason being that the latter collects VAT (by far the main source of state revenue) and that this tax is a fixed percentage on everything that is sold. In other words, when prices go up, then VAT revenues go up for the state. Inflation is a hidden tax.

It’s very simple, the number of euros in the economy is increasing by around 5% per year. This would be normal if the population increased by 5% per year. This is obviously not the case, which only means one thing: bankers treacherously authorize each new generation to borrow more than the previous generation, all other things being equal (wages), de facto fueling bubbles.

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This increase in the money supply would also be normal if the GDP (the sum of all that is sold in a year) increased by 5% per year, but neither is it. The energy constraints make normal growth rather 1%, the good years. Inflation mechanically follows (desired).

In short, inflation has powerful allies that won’t make it easy for Bitcoin.

The Great Inflation Of The 1970s | Fictional characters, History ...

Digital dollar

All this to say that the digital dollar that the Americans have just touched will not be not an empowerment tooln even if its instigators go astray in a vocabulary invented by cypherpunks and dedicated to the Nemesis of the banking system: Bitcoin.

Now that we have put things into context, let’s talk a little bit about this aborted digital dollar. According to the white paper, um sorry, according to the bill, the digital dollar should be directly issued by the Federal Reserve. That is, each American would have had an account opened directly with the FED.

However, nowhere in the proposal is it mentioned that this digital dollar can be used by paying with your smartphone. On the contrary, it was the commercial banks that would have been responsible for creating “Pass-through Digital Dollar Wallets” so that every American can withdraw their money from a cash machine or pay with their bank card.

The goal of this convoluted monetary contortion So it was not about launching a new debt-free dollar that would not mix with normal dollars (which are all absolutely tied to debt). Sorry to repeat it, but it is important to underline it: it was intended that the banks allow their customers to access this money via normal dollars, as if nothing had happened …

The digital dollar, pale imitation of Bitcoin

However, the proposal clearly stated that digital dollars could not not appear as assets or liabilities on their balance sheet… You will tell me, banks’ balance sheets don’t mean much anymore since the FED, alongside its injection of 700 billion, announced that the banks no longer had constraints in terms of minimum reserves. To put it another way, there are no longer limits on the amount banks can lend / create.

Let me explain: in normal times, to lend 33 dollars, banks must keep at least 1 dollar in the “safe”. Put another way, banks can lend 33 times more money than they actually have. Now, no more constraints, it’s open bar…. inflation.

I believe that the aim of this smoke-up was in reality quite stupid: they don’t want people to realize that banks are making money ex nihilo. They are careful that the people believe that this money would come from the government “coffers”, so as not to draw attention to an important point:

“The modern banking system makes money out of thin air. This process is undoubtedly the most astonishing trick ever invented… ”

Sir Josiah Stamp, director of the Bank of England from 1928 to 1941

The dollar, the euro, and all the currencies of the world are already “digital”. Only a tiny percentage of money exists in the form of notes and coins …

Bitcoin vs Digital Dollar

This kind ofhybrid chimerical Between currency helicopter and cryptocurrency will never see the light of day and Americans will receive checks instead. The banks are simply going to magically show all that money on each account. Case closed.

But let’s take the opportunity to drive the point home as to the conjuring number with which the powerful would like to bewitch us. A number that we will soon discover on the side of China which should reveal its state “cryptocurrency” shortly.

I can already bet you 22 million bitcoins that this “cryptoyuan” will not have none of the essential attributes that made Bitcoin so popular:

  • Permissionless and decentralized: It goes without saying that the Chinese authorities may block any payment with a single click. It is, moreover, an essential tool to implement certain privations in the event of too low social credit …
  • Anti-inflationary: Cryptoyuan will be created out of debt and there will be no no limit to the amount of money in circulation.
  • Anonymous: Here again, spy on ascha habitst Chinese is also an essential cog in the social credit system.

Adopting a “state cryptocurrency” would bring absolutely none of the benefits offered by Bitcoin. On the contrary, we would inherit all the disadvantages of a cashless society. A society with a dictator close to sinking into perfect totalitarianism …

“Digital Dollar”, fake Bitcoin, real means of oppression – Bitcoin – Cryptocurrency 2020
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