I don't quite agree with the "creating cryptocurrencies out of thin air part", but an informative read for those who are unaware of how the modern financial system works and a little bit of financial history to boot:
The Future of Money and Business – Part 2
By Scott Cundill on June 23, 2014 in Uncategorized
The off-the-grid businesses revolution is beginning. And we are going to thrive. Off-the-grid businesses operate outside of the conventional banking system. They do not register with the government. They do not pay tax and they don’t supply reams and reams of paperwork just to “comply.”
Well, not completely anyway.
Most intelligent people continue to run their existing finances, while quietly in the background they are building parallel off-the-grid businesses.
Does this approach sound radical? Before you formulate an opinion, it is vital that you understand and research the background of why businesses are choosing to go OTG.
How it all Began
Centuries ago, merchants traded with physical gold, silver and precious gems. Carrying around this kind of wealth was dangerous, and for this reason the goldsmiths who fashioned and worked with precious metals became the guardians of those metals. They would physically store the valuables in vaults and guaranteed its safety.
Instead of trading with physical gold, merchants traded with pieces of paper that served in effect as money. These were called negotiable instruments because, like a ship negotiating difficult waters, these instruments would be negotiated from one person to another as payment for goods and services. At any time, a person carrying one of those pieces of paper could take it back to the goldsmith and redeem it for the original physical gold.
If a merchant wanted a loan, they could go directly to a goldsmith. The goldsmiths quickly realised that instead of loaning real physical gold, they could loan a piece of paper, or promise to redeem some gold at a later date. This promise, called a promissory note, was a piece of paper with an amount written on it. So confident and trusting were the merchants, that they accepted and traded with written promises instead of actual gold.
Of course the goldsmiths betrayed this trust. They began handing out more and more pieces of paper as “loans” – even though they did not have enough physical gold to cover them. They literally created the money for the loan out of thin air. Ironically, exactly the same principal applies today. Banks fund cartels of debt collectors, liquidators and lawyers who roam the land, collecting debts and auctioning off people’s physical property for a fee. So corrupt is this process, that they even have the audacity to charge interest on these fictitious loans. With massive amounts of riches being accrued, banks can indirectly fund anyone they want. Armies and countries are at their mercy, all funded by money which is created out of nothing.
Welcome to the sordid world of money-lending, otherwise known as debt.
To this day, goldsmiths work from a ‘bench.’ In Italian, the word for bench is banka. This word banka, meaning ‘bench’ became the origin of today’s word ‘bank.’ In fact, the word bankrupt literally means “broken bench” because, if a goldsmith-banker was caught cheating, their bench would be physically smashed in the public square. Today’s banking system originated from those goldsmiths who became exorbitantly rich thanks to a monumental scam.
Exactly the same process happens in banks today. Only this time, there is no gold or silver or precious gems at all to back our currency. Our ‘money’ is a complete legal fiction. It is a fabricated belief backed purely by the false-confidence of the trusting masses.
People begin to wake up
There was one serious flaw to this perfect plan: there were far more pieces of paper circulating as money than there were actual gold and silver in the vaults. If everyone came and collected their real gold and silver at once, there was nowhere near enough to pay all of them. In order to perpetuate this monumental scam, the bankers (now known as banksters), would lobby to have laws passed that would limit the amount of gold that could be collected, and when. They also did their best to ensure that life was too dangerous to ever allow people to walk around with physical gold. And, above all, they had to keep this secret from the masses, which is why today’s school and university textbooks that teach banking practice are incorrect (see
http://www.newera.org.za/our-economic-textbooks-are-wrong-says-bank-of-england/).
Anyone with a bank account is on the receiving end of this debt nightmare. Never before are so many people under so much pressure to earn money, pay tax, pay traffic fines, pay school fees, pay for petrol and electricity hikes, etc.
So now the fight-back kicks in.
A solution: Off-The-Grid Business using Alternative and Crypto-Currencies
For centuries, the banksters have been getting away with their scam. I discussed this in part 1. When a bank makes a ‘loan’ it is not a loan, it is a complete fabrication of brand new money with interest charged on top of this amount. If you don’t pay it back, their well-funded cartels clinically auction your property with a complete lack of moral decency.
But recently, something has happened that the banksters did not expect. The Internet appeared. Clever people who take the time to see the light are creating online opportunities that level the playing field. People are sick of filling out forms and supplying pages and pages of documents just to open an ordinary bank account. They spend weeks trying to register businesses with the government, and are then forced to comply with expensive audits and a plethora of legal mumbo jumbo that binds them into a black-hole of nothingness. In South Africa, there is a term called gatvol. It literally means “my hole is full” – we’ve had enough!
And so today, many kinds of alternative currencies are appearing. The most famous global currency is bitcoin. Bitcoin is a decentralised peer-to-peer trading system with a finite number of coins in circulation. Because it is peer-to-peer, it cannot be closed down (although the dark forces have tried). Hot on the heels of bitcoin are about 200 other global online currencies such as litecoin, darkcoin, maxcoin, peercoin, ripple and hundreds of other coins. They are global and running off the Internet as we speak.Then there are local currencies, or community currencies. Berkshares, Ithica Hours and the Community Exchange System are examples. These local currencies are created by local communities and given to people as payment for benefitting the community. They fix roads, plant food gardens and restore buildings. Instead of getting paid by commercial bank promises (aka ‘money’) the workers are paid with these community currencies. Where does this currency come from? It is created out of thin air by the community, thus replacing the interest baring loans, also created out of nothing, that would have resulted had they used conventional bank money.
We the people need to grasp one very simple concept: we have everything we need to make our country thrive! Do not be fooled by the complicated nonsense of economic indicators and inflation rates, national budgets and balance sheets. All you need to know is this: you are being ripped blind.
Stay tuned for the Grand Finale to this series of articles. Sign up for Part III, and other great articles, at
www.scottcundill.com
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