I just read Andrew Craucamp "Tech News" article and thought it
would simulate some good discussion on this forum. I really liked
reading what he had to say, so I hope my comments here are
not view as harsh criticism--albeit, criticism none the less.
Bitcoin: The Significance of Decentralised Currency
Bitcoin is the most resilient of all currencies; unlike others, it can weather a global economic meltdown or even a nuclear war
So far so good. You can read the whole article here:http://mybroadband.co.za/news/columns/24853-bitcoin-the-significance-of-decentralised-currency.html
Andrew talks about two major flaws he sees in the Federal Reserve System,
(geez, Anderew, only two?). And then he makes reference to "the decentralised
Internet hacktivist group known as Anonymous
."At this point, Andrew provides a must see video
As you read this, ...Anonymous is undertaking an effort to hack the Federal Reserve out of existence...The reason Anonymous is doing this brings us to the second flaw in the Federal Reserve Bank. Should control of the Federal Reserve fall into the “wrong hands” they would not only have control over the US Dollar, but through it, control of every other currency in the world
I'm sure Andrew would agree with me, but this is not a hypothetical (should),
the fact is the FED has
fallen into the wrongs hands. Actually, it would be more
correct to say it was brought into existence by the wrong hands (also known as
the "Hidden Hand") Just read Creature From Jekyll Island
to learn the whole story.http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212
Now, to address Andrews first point (which I skipped over).
Firstly, if the Fed suddenly disappears, the US Dollar is at great risk of falling into worthlessness. The scare of not having an institution backing the US Dollar could cause it to spiral into diminishing worth.
This is yet another hypothetical. We all know this isn't going to happen.
What would happen is the United Stated Congress would take back their
rightful duty under the Constitution and empower US Treasury to issue
a currency completely independent of the private banking system.
If point of fact, JFK was in the process of doing this before he was shot.
Let's get a few things straight. Number one, the FED is neither Federal,
nor does it have any Reserve. The passage of the Federal Serve Act
in 1929 (same year the IRS began) was one the darkest moments in
American history. It is long over due that we get rid of this corrupt
debt-slavery system. Number two, it is the duty of Congress
"To coin Money, regulate the Value thereof."
Currently, we do not have Constitutional money. If we did, it would be
backed by gold and silver as highest Law of the Land
My question is this: If we do not have Constitutional money, can
we rightfully claim to have a Constitutional Government?
I submit that we can not, and do not.
It is high time this changed.