Can Cryptocurrencies Crush the Global Banking Cabal

Can Cryptocurrencies Crush the Global Banking Cabal by Rory, The Daily Coin

The Federal Reserve Note (FRN) is under serious attack on multiple fronts.

Usually when discussing attacks on the FRN it is done in the context of bonds or treasuries. This time is different. We see a variety of attacks on the dollar from multiple angels, through a variety of means, at a time when the FRN (dollar) is being questioned, around the world, for soundness, stability and usefulness as a “world reserve currency”. The days of “exorbitant privilege” seem to be waning.

We have witnessed, over the past several years, China traveling around the world creating direct currency swaps with the renminbi to bypass the Federal Reserve Note. This was a strategy with two purposes – first, bring the renminbi, the national currency of China, to the global stage and have this currency flowing through the global market. This would appease a requirement by the IMF (International Monetary Fund) to include the renminbi in the SDR basket of currencies.

The second reason, was to allow countries, around the world, to bypass FRN’s for global trade making it easier and more cost effective, for countries to do business directly with China instead of being forced to keep U.S. dollars (FRN’s) on their balance sheet in order to conduct business. This has made a larger impact of FRN’s than the Federal Reserve is willing to admit. If the Federal Reserve Note is no longer being used by as many nations that means the U.S. can not “ship” inflation out of the United States and force on another country. This. Is. Huge.

Two years ago we saw the introduction of Bitgold through GoldMoney. This was the first company to offer, in what is rapidly becoming a crowded field, a physical gold backed debit card to reach a global audience. The success of GoldMoney has now opened the door to a whole other realm of physical gold backed transaction mechanisms. Primarily, the blockchain, the same type of internet based, global platform used by cryptocurrencies like Bitcoin and Ethereum.

Friday May 26, 2017 a little known gold backed cryptocurrency was launched with an ICO (Initial Coin Offering) called ZenGold. The ICO consisted of 63,000,000 tokens, with each token representing 1 gram of physical gold. They are all sold out. There will only be 100,000,000 tokens to ever exist for this new gold backed cryptocurrency. The remaining 37,000,000 tokens were used for various aspects of the company including payment to the developers and “C” level company executives, leaving 63,000,000 tokens for the market place.

ZenGold, like Bitcoin and Ethereum, all have a finite number of “tokens” associated with the digital “coin”. What this does is allows an actual free market to develop and mature around a finite market offering. The biggest difference with these cryptocurrencies is – they are currencies that compete with national currencies like the U.S. dollar and the Chinese renminbi. Over time this will apply even more pressure to the FRN’s from a source that, so far, has proven to be beyond the reach of central banks around the world. These cryptocurrencies are not only gaining favor with investors, they are also beginning to see massive acceptance, around the world, for goods and services. Australia announced in May 2017 the nation will now recognize bitcoin as a currency. Any company that chooses to accept Bitcoin now has that option and is no longer forced to use only the national currency, Australian dollar. Japan and a number of other nations are being pressured by business’ and the citizens to recognize bitcoin as a currency as well. This could change everything. We could actually be witnessing the end of the banking cabals reign of global financial terrorism.

We now have four different options that can be used around the world, outside of government control and outside of the banking cabals reach, to conduct business with whom ever we choose on whatever continent we choose. Two of those options involve physical gold. By years end there will be, at least, two more options for physical gold backed cryptocurrencies.

I am not saying the central banking cabal is going to simply roll over and say “you win, use whatever currency you wish”. Not by any stretch of the imagination. The question is – how will they combat these currency mechanism that are, currently, exploding into acceptance around the world?

The blockchain technology allows a person to securely, as secure as the internet can be, conduct business person to person. I have my wallet you have your wallet we agree on a product or service and the transaction is conducted on the spot. No interest (tax) is paid to any government. This is the biggest part of the problem. Central banks, around the world, “sell” national currencies to governments; like the FRN is sold to the United States Treasury, at interest (Debt), and the Treasury sends the currency out to the banks. The banks then “sell” the currency to us, the citizens, at a higher interest rate (Debt) than what they have to pay back to the government. This is a scam; this is theft. The central banksters know it, governments around the world know it and now you know it. This is one of the reasons people want to use another currency – people are sick and tired of being slaves to the banks.

Over the next year this has the potential to change the way a significant percentage of people conduct business and use currency. Cryptocurrencies are beginning to make their way into the mainstream as witnessed by an entire segment on CNBC a couple of days ago covering bitcoin and cryptocurrencies. The banking cabal is, in my opinion, attempting to devise a way to either circumvent cryptocurrencies or learn how to control and profit from their use. It’s about to get interesting up in here and the fireworks could be really cool or be very, very ugly.

This attack against fiat currencies around the world, more specifically, the Federal Reserve Note, U.S. dollar, is to say nothing of the fact that the creditor nations of the U.S. have been offloading their Treasuries and bonds for the past several years. These promissory notes have also been traded for tangible items like water systems, solar power systems and other infrastructure projects everywhere except the U.S. The U.S. only has eyes for war. U.S. Treasuries, while they enjoyed a nice uptick recently in acquisitions, it can not be offset by what has happened over the past 3+ years as nations have been unloading their I.O.U’s. This is another attack on the FRN and this one could rip the U.S. dollar to shreds.

This two pronged attack on the FRN, along with President Trump stating time and again he would like to see a “weaker dollar” to help exports will only get worse. There may be times when the FRN looks great to investors but that only means all the other worthless currencies are in worse condition than the FRN. The dollar could easily transform into something else, another form of fiat currency. If this happens, what would that mean to the global economy, global financial system and the derivatives market? It appears, the FRN is somewhat “stuck”. Will this allow people to move freely into alternative currencies like cryptocurrencies or gold backed digital currencies? The possibilities, at the moment, are staggering.

For now, I like physical, in my hand, gold and silver and that’s not going to change any time soon. However, I am not so stupid, or blind to the facts, as to ignore what is happening all around me. Markets are transforming to digital currencies – your debit card tied to a bank account, for example –  and a gold backed digital currency, like GoldMoney or ZenGold, may be options that should be exercised. If we do nothing, the choice may be made for us, just like what happened on December 23, 1913. If we are safely out of the way, it will be much more difficult to force us back onto the central bank plantation. Imagine how much more wealth a person could gather by simply operating outside of this current debt and death paradigm owned and operated for the banks. WOW!!

 

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The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.