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Question: One-world reserve currency inevitable and will enslave all nations? (you can change your vote later)
Agree - 28 (34.6%)
Disagree - 14 (17.3%)
Undecided - 8 (9.9%)
You are crazy - 3 (3.7%)
Armstrong is crazy - 3 (3.7%)
I hate you AnonyMint - 1 (1.2%)
I love you AnonyMint - 2 (2.5%)
All of the above - 4 (4.9%)
None of the above - 1 (1.2%)
I am crazy - 2 (2.5%)
I don't care - 2 (2.5%)
Why did you waste my time reading this crap! - 8 (9.9%)
Other - 5 (6.2%)
Total Voters: 81

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Author Topic: One-world reserve currency inevitable and will enslave all nations?  (Read 19454 times)
TPTB_need_war
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May 01, 2016, 01:59:37 AM
 #201

Enslave?  I think one wotld currency would be a good thing.   Anything to bring humanity together instead of dividing us. We need to tear down political boundaries and remake the world.   And hey, isn't that what bitcoin is for?

It would help a lot if you'd my prior posts in this thread (when I used to have the username 'iamback'):

I chose to agree. This would be the single biggest issue that would cause an enslaving of nations.
thats why we need country fiat and bitcoin.

I thought we are already in this situation.

*Ahem the US dollar? last time I checked everyone loves it, despite its covered bad value.

So why would it recourse into another world reserve currency.

The difference will be that the new one-world reserve coming approximately 2020, will not be controlled by any nation, but rather by a world government body.

This will be viewed by the world as more fair. But in reality it will be much less fair, because the world government will act basically the way the Troika does in the EU now, lending to the nations and never letting them default. They will lend in the world currency, but the people will be paid in their nation's shit currency which is debased like hell by the national politics. So then when the national currency loses value, the people are stuck paying back loans in the relatively more expensive world currency.

This is precisely what the Troika did to the PIIGS to destroy them. They will then do this on a global scale to enslave us all.



I hope everyone understands the implied point in the OP of comparing the Euro vs. Greece to the one-world reserve currency vs. nations.

Greece was forced to borrow denominated in Euros during the speculative inflow of investment at the turn of the 21st century, but as Germany was more productive they benefited more from the Euro and Greece had no way to devalue their debt. So they are repaying the debt with a lower productive economy with massive egress of speculative investment.

The same problem with happen when the reserve currency for debt is SDRs and then all nations will be repaying their debts in SDRs while they won't have the policy tools to inflate nor deflate their debt burdens to respond to volatility in relative productivity and speculative ingress and egress of capital. Effectively they become a slave to the international central bank who can issue fractional reserve debt denominated in SDRs, which the banksters will surely have in their back pocket again. Just like the Fed now is pumping debt into the developing world making them short the dollar, then it will pull the rug from under them by raising interest rates sending the dollar higher and causing them to repay debt in more expensive dollars.

The only solution to this problem is for the Knowledge Age to rise and say "I don't need stored monetary capital, I need knowledge". I will quote from myself about this as follows.

[...]



So Armstrong has been pitching this idea that governments could just print the money they need for taxes. So the model he is proposing is where national currencies float against an international reserve currency, so governments can then mess up their own currencies if they wish. He prefer the governments just print the money from their central banks, and the relative success of nations at managing their economic and fiscal policies will determine their relative value of the national currencies relative to the inevitable one-world reserve currency.

But by Armstrong's own admission, trade only accounts for 10% of the world's capital flows and thus the vast majority of the world's wealth will choose the one-world reserve currency as its unit-of-account and thus who ever has their hands on the levers for the debasement and fractional reserves rules of the one-world reserve currency (e.g. the elite who run the World Bank, BIS, IMF, etc..) can then speculate and manipulate the national economies at-will. This will be just Goldman Sachs take over of Europe and Greece but on a global economy-of-scale level.

For analogous reasons as to why the Euro failed, the one-world reserve currency with national government debts denominated in separate currencies will also cause the nations to fail just like Greece did. The bottom line is that who ever controls the reserve currency of the world, holds the power to destroy and enslave the other nations.

Also Armstrong is contradicting himself on claiming above that the impetus for a move to a one-world reserve currency will be only for economic reasons and "not political".



coinits, calm down you are preaching to the choir. You perhaps don't realize I wrote the syndicated essay Bitcoin : The Digital Kill Switch. I am the one who has been writing that Bitcoin is owned by TPTB.

In spite of the arguable fact that Bitcoin is controlled by the global elite, my guarantee that it won't be the "winner take all" global currency remains certain.

First of all, simpleton readers don't seem to understand the distinction between a reserve currency and a circulating currency. Crypto-currencies are the latter. Dollar and Euro cash are examples of the latter. US Treasury and Euro-denominated bonds are the former (Tier 1 reserve assets in the BIS Basel model). IMF SDRs are the former.

The global elite are planning for a national (or regional) currencies floating against a global reserve currency. And they are planning for circulating currencies which are all digital. Bitcoin is one gambit in that mix.



Nope, but it would probably enslave Russia. Just look at what happened to the Ruble!

Incorrect! The one-world reserve currency will enslave all of the nations. Study my post #11 more carefully. You didn't comprehend it.



I suggest you relate that to "Confessions of an Economic Hitman" by John Perkins. And also relate that to the Asian crisis in 1998, which was caused by speculative international capital flows fleeing to Europe to take advantage of the ingress in investment that corresponded with the launch of the Euro.

Nations are inherently prone to short-term capital ingress and egress. Without their own central bank to inflate out of an egress crisis, they are enslaved by the unit-of-account which is imposed on them by investors.

The problem is fundamentally rooted in the ability of stored money to be a claim on future production. Instead when profitable production results from a diversity of knowledge innovations that are DIRECT (e.g. the customer uses your software, or they 3D print your design) and not just proxies diluted by mass production (e.g. factories make a million copies of your design), then stored money becomes incredibly difficult to invest. The more stored money you have, the faster it withers in relative value.

This is the paradigm shift coming on now due to the Knowledge Age.

In short, investing will become active instead of passive, and investing will be small and numerous (i.e. bottom-up) instead of large economy-of-scale fascism (i.e. top-down).

Sorry Armstrong! Storing capital in money instead of fine-grained (maximum division-of-labor) knowledge thus causing international capital flows that are the problem! That paradigm must be eliminated! We need capital flows to be instead actual finely-grained, bottom-up knowledge exchange, where capital becomes knowledge and not stored claims on future production.

Then there won't be any more nations, nor any one-world top-down slavery.

You say "no one will save and be productive"? Wrong! They will save up their knowledge gained by being productive instead of lazy! This is the paradigm shift of epic proportions and nearly no one sees it is happening.



I am very surprised that Armstrong can not conceptualize what I wrote above. He responded by pretending to himself that I am some simpleton who is only learning from him. He failed to understand I am not talking about the existing debts. I am talking about the new debts that will form after the global monetary reset (restructure or default).

My point is if we look at Greece, it sold its sovereign bonds denominated in the Euro(pean) reserve currency and thus it suffered pernicious (and self-reinforcing downward spiral of) austerity because it was not able to devalue the debt it owed by printing money to devalue its own currency and stimulate its economy by lowering the international cost of its exports and tourism industries.

Even more importantly as we can see with the dollar reserve currency now, countries that sell debt in denominated in their national currencies pay an interest premium compared to when they sell debt denominated in the reserve currency. This is one example of many reasons[1] that those who have control over the reserve currency's central bank, have enslaved the other nations. This is why a USA Treasury official famously said to his Third World cohort, "its our dollar, but it is your problem".

Armstrong is failing to understand that a reserve currency is inherently an enslavement paradigm. And the only possible way to eliminate this paradigm, is to make debt not profitable for investors. I explained how that will become the case with the shift from an Industrial Age to a Knowledge Age. But I think Armstrong is not smart enough to grasp the concept. Or he is too lazy to read the essays I wrote, which I had provided him links to.

Additionally I am shocked that Armstrong is conflating unit-of-account with unit-of-exchange. That is the most basic error. The coming one world reserve currency will not be a circulating currency that is used for retail transactions. If that were the case, then the nations wouldn't even have their own currencies any more. The reserve currency will be used for settlement internationally for exchange between the national currencies which will float against the one world reserve currency. I don't think the nations will agree to give up their control over their national currencies, rather they will just agree to a reserve currency that isn't controlled by the USA exclusively.

[1]   http://www.mckinsey.com/insights/economic_studies/an_exorbitant_privilege
http://www.imf.org/external/pubs/ft/fandd/2009/09/cohen.htm
http://www.financialsense.com/contributors/john-butler/curse-reserve-currency-triffin-dilemma



you mean reserve is a backup?

Read the thread!

Replies from others are emphasizing the use of BTC for gambling, but the keyword in my subject title is "reserve".

My point is that BTC is the unit-of-account by which everyone measures their gambling success, not fiat.

When someone gambles on an altcoin "investment" (speculation), they are hoping to get more BTC. They don't cash it out to fiat, they HODLit to gamble some more altcoin "investments". Even if you include gambling sites that accept Bitcoin, the gambler is likely HODLing their BTC gains (if any) and not cashing out to fiat.

Unit-of-account doesn't mean backup. You need to learn what reserve currency means.

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May 10, 2016, 10:07:43 PM
 #202

Any speculation on if the one world reserve currency will be a basket on national currencies or will it consist of a basket of something like the top ten commodities of the world.  I am guessing it would float against whatever basket it contains but then that raises the question why would it have to float against anything .  I am not an economist, so just trying to get some  of these ideas sorted out.
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May 10, 2016, 10:15:19 PM
 #203

Any speculation on if the one world reserve currency will be a basket on national currencies or will it consist of a basket of something like the top ten commodities of the world.  I am guessing it would float against whatever basket it contains but then that raises the question why would it have to float against anything .  I am not an economist, so just trying to get some  of these ideas sorted out.


Currently its been the USD for the longest time.

But you can see other countries been idling on wanting for and chinas  been wanting to become one for quite awhile with their metal hoarding..

Theres not much to see here though, since it takes awful load of time to see this happen. See the time difference between each world war and then apply it to chinas methods of doing the same without the war part of export/imports.
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May 15, 2016, 08:19:23 AM
 #204

The Devastation that man wrecks on himself (in short society is a power vacuum that requires a strong tyrant to beat the men into not defecting from the good of society):

Change the record you're boring

This forum has turned into a circus of lies and ponzi scams speculation:

https://bitcointalk.org/index.php?topic=1219023.msg14853958#msg14853958 (Vcash deleted posts)

Do not expect me to market anything which is "fair" to this audience. They don't want fair.

I am okay with that. Peace. You get yours and I'll get mine. That is the new world order you want.

Collectivism is a power vacuum and the argument is always about who gets to steal for and from whom.

Bernie: "Socialism can be repaired as long as I can be in charge of the stealing to insure it is fair".
Trump: "Stealing can be optimized if I am Dicktator-in-chief"
Clinton: "You'll tolerate my theft (for myself and my cronies) because as a Democrat I'll steal some for you too (and not remind you I funded it all by expanding an egregious future debt on your children's back)"

Stealing (scams, oligarchy, etc) is not the exception, rather it is the norm of human nature. Always will be.

The Lord warned us that this is the nature of man.

Don't forget the Iron Law of Political Economics.
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May 15, 2016, 10:24:20 AM
 #205

... the only person more wrong on BTC than Anonymint is Armstrong.

You and Armstrong are both wrong on the future of BitCON:

https://bitcointalk.org/index.php?topic=1465136.msg14854131#msg14854131

As for the price action I predicted, stay tuned...

I think Armstrong will end up being correct about bitcoin (not surviving the other side of 2020) let's see..  Cheesy

It is not clear if it will destroyed or merely turned into a tool to confiscate wealth, and a better Paypal for the masses. My bet is the totalitarian variant of the future. Click the link above to find out why. Men need a tyrant.



[...]

I think Armstrong will end up being correct about bitcoin (not surviving the other side of 2020) let's see..  Cheesy

It is not clear if it will destroyed or merely turned into a tool to confiscate wealth, and a better Paypal for the masses. My bet is the totalitarian variant of the future. Click the link above to find out why. Men need a tyrant.

I very much doubt it becomes a "better" Paypal for the masses for the simple reason that it isn't better.

I would be bet on failure over widespread usage of a coopted system. In fact I'd lay significant odds on that bet. (Though failure is somewhat difficult to define precisely -- let's say significant loss of value and usage.)

I see even an oligarchy controlled Bitcoin as better than Paypal, because:

1. Bitcoin is a global politik; and thus even the Chinese mining oligarchy (cum banksters pulling the strings behind the curtain) can't do anything which isn't politically correct globally.

2. Thus Bitcoin will retain many attributes that Paypal as a corporate offering can't provide such as inability to deny any person in any account equal opportunity to access, inability to enforce holdbacks, block certain industries, and other arbitrary shit Paypal does which make my head want to explode. Bitcoin is a trojan horse launched by the global elite to subvert any localized attempt to block/control the shift to digital currency.

3. Thus I predict enormous adoption for Bitcoin, but just remember it will be owned and controlled by the global elite (aka the banksters). And the global socialism will enforce a global confiscation/expropriation of those with wealth, in the coming years. It will be a bittersweet success.




[...]

3. Thus I predict enormous adoption for Bitcoin, but just remember it will be owned and controlled by the global elite (aka the banksters). And the global socialism will enforce a global confiscation/expropriation of those with wealth, in the coming years. It will be a bittersweet success.

Meh, hardly anybody wants Bitcoin, and the only ones who do will just flee it and use something else if it becomes government controlled. Using Bitcoin now is a pain in the ass and something a relatively small number of people do at great inconvenience and only out of necessity (generally speaking holding it for as short a time as possible). They'll have no trouble switching to Zcash or whatever else if necessary for their purposes. The rest will just stick with actual Paypal and similar products.

The only ones with any real wealth in Bitcoin are speculators who treat Bitcoin like a Wall Street product (and often store it in easily-confiscatable form on exchanges anyway). Well yeah maybe their Bitcoin will get confiscated. Not really any different from any other Wall Street product, and not at all surprising (to me). A few of the smartest ones will probably be able to escape confiscation, again not so different from traditional finance.

For the moment Bitcoin is only a gambler's paradise, but the conversion to instant microtransactions is the key to launching it into mass adoption.

That is why the block chain size debate has been so contentious, because it is a battle over who (Chinese mining cartel + Blockstream, all controlled behind the curtain by the banksters) owns Bitcoin as it is scaled out.

It's pretty evident from the establishment embracing Bitcoin and things like this CME news, that TPTB will use Bitcoin as a golden parachute to escape the death trap fiat system they created.  They know it's extremely hard to do business using gold, and you would need to implode civilization back to the dark ages to make gold work again, so Bitcoin is their go to play to keep the wheels turning at an above caveman level.

Ever since humans stopped being hunter gatherers and settled land, it created abundance.  That's when the predator class arose to skim the abundance.  It's in TPTB' best interests to keep a high level of civilization running in order to skim it instead of having civilization implode back to ancient Babylon.  That would likely just implode their own standard of living as well once the caviar supply lines run out.

Yes, they create catastrophes to benefit from them, but I don't think they want ones so big that they become completely unpredictable and threaten their own power structure.  They always have some type of golden parachutes in mind, and Bitcoin is seemingly the only viable thing around for digital transactions in the coming great reset.  The world supply lines are very intertwined, and if you cannot do digital transactions on an international level because nobody trusts any of the currencies, then you immediately go back to the 1800's.  Do TPTB want to live in the 1800's?  Probably not.  They have to devise something to keep the wheels of the world turning.

Agreed, but they didn't create Bitcoin as the primary escape hatch from fiat collapse (which will instead be the one world currency reserve unit basket), but rather because they want to subvert any one nation's control over the digitalization of currency. They don't want a bastardized fragmentation of the digitalized commerce world. That is all good. The bad part is they control the global politik, and thus they control Bitcoin. They can easily incorporate capital controls and expropriation into the politics of regulation of Bitcoin and then they can easily implement it since they are funding and arranging the Chinese mining cartel and Blockstream's $74 million funding.

Edit: my take on the opportunities ahead:

https://bitcointalk.org/index.php?topic=1219023.msg14855669#msg14855669
iamnotback
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November 19, 2016, 06:56:00 AM
 #206

Of course this is all predicated on everything chugging along nicely, ie. no crisis.

That is the key point.

The world is short the dollar, so the vortex will suck all the dollars home while the demand for dollars skyrockets causing the strong to become so strong that it chokes off the global economy, while the Fed is forced to raise interest rates due to raging inflation in the USA due to influx of hot dollars from international capital flow stampede. Thus the rest of the world will be desperate for an alternative to the US dollar and a global liquidity provider of last resort, since the Fed will have stopped filling that role as it had been.

The USA is likely to want to capitulate also because USA economy will be toasted by the collapse of the global economy, but if not, Russia and China and others stand ready to ganging up on the USA.

Or the USA resists but the rest of the world marches ahead with the new SDR monetary reset and the USA falls further off the cliff into decadence.

I am plowing my way through Jim Rickards's brand-new book The Road to Ruin.  He thinks the SDR will be the next world currency (but that the US$, the Euro, The J. Yen, etc.) will circulate within their home countries.  ALL foreign trade (at least larger deals) will be settled with SDRs.  Also, he expects that before too long, major multinationals (think Exxon, Volkswagen, and IBM) will issue bonds in SDRs.

Right now the IMF is not "printing" any SDRs.  There is no paper version.

Rickards pointed out one interesting point (certainly for you, iamnotback): that since the IMF does not import & export, issuing more SDRs (apparently they have only issued "new" ones only four times) would resolve Triffin's Dilemma, a notion that the major world player must run trade deficits so that there is a reserve currency.  Problem is that continued trade deficits could bankrupt the country (so the Dilemma).

I first ran into Triffin's Dilemma at FOFOA's blog some years ago.

The plan is like the Euro, all countries will borrow in SDRs, but they will use their local currency for wages, etc.. But this will make all countries bankruptable when their business cycles go down but they can't print their own money. All countries will be slaves as per the Greece EURO debt example, which Armstrong has explained many times.

This will take us towards the end game in Revelations where all wealth will be stored on a hill in Israel where the elite banksters have concentrated it with the above enslavement plan for the nations.


Edit: https://www.armstrongeconomics.com/international-news/middle_east/sales-of-us-treasury-bonds-continue-to-try-to-stem-dollar-rise/
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January 11, 2017, 11:59:04 PM
 #207

The reserve currency is a narrow phenomenon that has more to do with the dying Industrial Age (see my comments in the Economic Devastation thread for more insights).

Bitcoin is serving a purpose in this evolution but it is not the be-all or end-all of this technological transformation.

Make sure you read this:

https://bitcointalk.org/index.php?topic=1082909.msg17458485#msg17458485

As you've stated, Bitcoin could become the world's reserve currency - the institutional playground.

I have never said that and have instead argued that it won't be the reserve currency. Perhaps you are confusing where I have written that Bitcoin is the reserve currency of the altcoin ecosystem.

Yes, my mistake - altcoin reserve.

Would it be possible for Bitcoin to become a global reserve currency at all? I'm assuming competitive collusion among major governments along with addition of control and tracking sufficient to enable AML/KYC for those governments.

The coming SDRs reserve currency will be a compromise by all the nations to fix the coming strong dollar vortex global collapse. That reserve currency is for the Industrial Age economy (the one built with huge fixed capital investment and huge fractional reserve banking leverage). The leftists (collectivists) are enslaving themselves in that dying, but huge albatross monolith. Gold is dying along with that physical economy. We will still have a physical economy, but it will provide no real economic growth and it will become very small in terms of profit relative to the Knowledge Age economy over the coming decades.

Bitcoin, blockchains, and altcoins are the decentralization technology of the fledgling Knowledge Age which rises to replace the dying Industrial Age, as a network effect of the decentralized Internet. Bitcoin is the reserve currency of that new nascent economy.

The economy and society are bifurcating. I predicted this years ago and have been using that term bifurcation.
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January 12, 2017, 01:31:33 AM
 #208

A single world reserve currency already exists, it's called the United States Dollar lol.

As for what would happen if there was a single global currency, it could enslave nations, but it all depends on the people running it and the caveats and implications of handing over national sovereignty to a foreign power. We cal already see the Euro failing, so obviously something like that won't work like we think it will.

Might take some more experimenting to get to a point where it is realistic to implement a world currency.
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January 13, 2017, 03:04:52 AM
 #209

Bitcoin is revolution but will it be used on more wide scale payment system?

It may be my altcoin which does that. But Bitcoin will remain the reserve currency of the altcoins and the on/off ramp to fiat. The point is the crypto-currency and blockchain ecosystem is a paradigm shift which will enable the Knowledge Age. The SDRs will be for the dying Industrial Age physical, usurious economy.

but I do not believe that "SDRs" are going to be going anywhere anytime soon, to be honest.

Because you don't understand Martin Armstrong's short dollar vortex thesis which makes the BW#2 monetary reset a certainty. The world will demand the strong dollar be replaced with a cooperate reserve unit, i.e. the SDR. This is a certainty.


Banks create money by making loans, but this process is not in any way constrained by reserves, deposits or a money multiplier. Banks do not need deposits to make loans. The idea that banks somehow lend out grandma’s savings is propaganda. Instead banks simply create money via accounting wizardry. When a bank approves a loan they simultaneously create a deposit in the borrower’s bank account and voilà new money is created. Banks do not function by lending out deposits. Instead the act of lending creates more deposits. This is the reverse of the sequence taught in almost all economic textbooks.  Banks create deposits at will.

Economic texts often state that banks are constrained by reserve requirements. This is another lie. There does exist a number called reserve requirements.

The vast majority of money is NOT created by central banks, but by regular banks who loan out money that doesn't exist.
The simply move numbers around in their records, creating debt out of thin air.

And my limited understanding of the Basel rounds is that Tier 1 reserve capital requirements will gradually become more strict, thus enabling TPTB to collapse the global banking system so they can usher in their NWO and SDRs.
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December 26, 2017, 03:45:46 AM
 #210

The possibility of Bitcoin to be the only one world global currency is extreme and far-fetched. Every country in the world has its own economic setup dictating its own currency. The very nature of Bitcoints to be a decentralized crypto-currency goes against the acceptance as one global currency by the individual governments. To govern a country, they will not naturally accept the decentralized economic freedom offered by BTC and rule out the technology and the capacity for innovations. Even though it has been accepted by a few first world countries in their payment system, there are far more third world countries who need to constantly fight for existence. Hence, BTC is still not accepted there.

Even, in the level of micro transactions it is even more difficult as we can't wait for hours to get confirmation when paying in coffee shop with bitcoin. This concept didn’t really exist before. Presently, it acts more like store of wealth like gold right now. At this level what is required is faster confirmation and less fee might be used as suitable payment method for micro transactions. The pricing in Bitcoin is still too unstable, like any other crypto currency. Hence, to replace dollar we will need a currency that will have a much more stable exchange rate.

The way we cannot believe all humans of the world regardless of religion, race, creed or color to be able to live in perfect harmony with one government that represents the interests of all people equally. Similarly, it is still impossible to believe in the one world global economy (BTC) to replace every individual economic setup.
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June 08, 2018, 11:07:23 PM
 #211

It is indeed useful and important in every aspect. Not all country can withstand on its own. It needs the help of other states and investors for it to grow and grow. Thats why having  a good relationship with other heads of state will make it more easier when it comes to good economic exchange. This is what we called globalization where it is understood as “an intensification of cross-border interactions and interdependence between countries” has brought about major change in the international system.

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