Could crypto-currencies really change the way we buy and sell - and repel a controlled fiat currency?
January 29, 2014
January 29, 2014
The United States Dollar, or Petro-Dollar, is and has been the worlds reserve currency especially following the end of World War II, where the United States was number 1 in almost all economic factors around the world. This was largely due to the Bretton woods agreement, along with over $200 billion in war bonds maturing. However, in 1971 the United States terminated the agreement as the United States was printing more and more dollars as it struggled to deal with its deficits.
Wikipedia: In 1971 more and more dollars were being printed in Washington, then being pumped overseas, to pay for government expenditure on the military and social programs. In the first six months of 1971, assets for $22 billion fled the U.S. In response, on 15 August 1971, Nixon issued Executive Order 11615 pursuant to the Economic Stabilization Act of 1970, unilaterally imposing 90-day wage and price controls, a 10% import surcharge, and most importantly "closed the gold window", making the dollar inconvertible to gold directly, except on the open market. Unusually, this decision was made without consulting members of the international monetary system or even his own State Department, and was soon dubbed the Nixon Shock.
The Dollars Not-So Impressive Track RecordSince the Federal Reserve came into existence following a shadowy meeting by several hidden hands, and powerful bankers at Jekyll Island, we have seen an almost direct decline of purchasing power. In fact, as soon as the dollar came into control of the private banking cartel, it almost immediately started to decline, until the crash of the stock market, and the state of the emergency that ensued.
The chart above shows the less than spectacular track record of a system that continues to fail. If this was the resume of an average worker, nobody would hire him, let alone give him the printing press in the most powerful country in the world.
As you can see, the "rolling 20's" brought an increase in purchasing power, by 1933 bankers used their first coup on the American people, crashed the economy, and stole the gold out of the hands of the American people. With the exception of a slight increase in production leading up to the second World War, and even with the "economic boom" thereafter, purchasing power remained to dwindle, artificial inflation, and continual printing seal the fate for the fiat currency.
With 100 years of the Fed's existence, you would think these Ivy League heavy hitters and economic experts would have fixed this problem long ago; after all, don't they see what is going on? As most people suspect, the destruction of the dollar could be used to bring in a sort of one world currency in the control of the global banking elite, which I might add -- is only a few moves away on the chess board of freedom vs worldwide totalitarian dictatorship.
The Achilles Heel
The emergence of crypto-currencies, or alternative currencies (although some people contend it started as a joke), has revolutionized monetary relations, and could be in my opinion - the Achilles heel to the manipulation of currencies.Whether you trust crypto-currencies such as Bitcoin or not, it is hard to ignore the possibilities that they can bring.
Directory 4 Bitcoin
Specific and Individual Markets
The exact opposite of a one world currency is many, many forms of money that you can decide on your own you want to use, invest in, or hold. Although Bitcoin is the Mike Tyson of crypto-currencies, there are a number of emerging currencies that are adapting to a specific market or niche.
The idea that you can develop a currency to fit a certain market directly, essentially creating a "new economy", is more than revolutionary, it has never been done in this manner.
Bitcoin is the crypto-currency that is now mainly used for large transfers or purchases, and made a lot of people money over the last few months. However, there is a cousin named Litecoin, that is the Silver to Bitcoins gold. It is much easier to get into Litecoin due to it's significant price difference.
Free Banner Exchange for the Bitcoin Community
Although there are many other crypto-currencies I could mention, I am going to bring up two more as examples of specific and individual markets.
Meet Dogecoin. Without going into its full history and explanation which you can find here, this is a crypto-currency that basically also started as a joke. But now it is being taken serious as seen in my previous article. Now, with the help of "Coyote Wallstreet", it will be seen on the Oprah Winfrey Network on the show "The Diamond Collar". Although as of right now, the Dogecoin is basically at $0.00 per coin, people who have 100,000 - 200,000 of these could see a gain if the publicity turns this into a "fad" or "speculative" crypto-currency. Right now, The Diamond Collar is accepting Dogecoin in it's DOg Grooming store and Rescue Service. This is what I mean by individual markets, as more and more dog groomers or rescue services may get behind the dog-faced crypto-currency for it's specific market.
Medical Marijuana & Marijuana Advocates Eat Your Heart OutFinally, there is an emerging crypto-currency (although not officially on the market) known as Potcoin. The developers hope to see Potcoin become available, and open up on about 4/19/2014, or 4/20/2014 ( the unofficial National Holiday for Weed). With marijuana legislation passing in Washington and Colorado, and legislation being introduced all over the country, it only makes sense to have an alternative currency specific to these purchases. Of course, since big banks are making it difficult for legitimate Weed Shop owners to deposit funds into their Banks; you would think it would only make sense to accept payment in Potcoin.
We could possibly be only a few years away from a very different world in terms of how crypto currencies are used. I suspect Potcoin, will be the future Bitcoin, except it wont be as over valued. I also believe Potcoin will be used to help support marijuana legalization efforts, research, and efforts to show medical marijuana is not only safe, but has the potential to cure. Get ready Bankers, the crypto-currencies are on their way to stepping on your toes!
Andrew Pontbriand is an Activist, Researcher, Contributor at Activist Post, and Writer/Editor of The Resistance Journals. Like his Facebook Page here, and follow him on Twitter - @ResistJourn25