What Replaces the USD as the World's Reserve Currency? CBDC, Gold or Crypto

The USD's removal as the world's reserve currency is inevitable.
See the US Debt Clock ---> https://usdebtclock.org/
There are three viable alternatives - CBDC, Gold or Crypto.

 

 

Plandemic 3: The Great Awakening

Great documentary by Mikki Willis that summarizes the current attempt by Communists to destroy the U.S. (with similarities to Mao's Cultural Revolution)

Note: Foul language at 5:04 and 7:48 mark.

In Memory of Dr. Zev Zelenko, a Great Fighter for Truth and Liberty

Some amazing tributes to Dr. Zelenko:

The Wolf who Saved his Flock by Rabbi Michoel Green - Substack

In Memory of the Tzaddik, Saver of Lives and Brave Speaker of Truth, Dr. Zev Zelenko Z”TL by Brucha Weisberger - Substack

 

 

 

Dr. Zelenko speaks to a Rabbinical court in Jerusalem

Dr. Zelenko's Red Pill:

Must Watch Video: The Plot To Steal America

I highly recommend this video titled: 'The Plot To Steal America'. Can also be found on Rumble and YouTube.

Part I - Election Fraud

Part II - CCP & Big Media & Big Tech vs. Trump & US Patriots

Cryptocurrencies Provide Path to Freedom Amidst Banking Liquidity Crisis

Banking Liquidity Crisis

A major sign of problems in the financial system occurred this September in the repo market as 'the spike in overnight borrowing rates forced the New York Federal Reserve (NY FED) to come to the rescue with a special operation aimed at easing stress in financial markets'. By November 14, the NY FED announced it would 'continue to offer at least $35 billion in two-week term repo operations twice per week and at least $120 billion in daily overnight repo operations'.

(Watch this brief tutorial on the repo market for further explanation - Update: David Haggith recently posted an in-depth review of the 'repocalypse')

In retrospect, as liquidity continues to be injected in the system, the initial operation no longer seems so 'special'. In a strike against transparency, the NY FED rejected a request to disclose the recipient(s) of these loans stating it is not 'subject to the Freedom of Information Act ("FOIA") although it complies with the spirit of FOIA when responding to requests of this type'. The current crisis in the repo market is clear evidence of something broken in the banking industry. While the global debt bubble was set to burst at the end of last year, the Federal Reserve (FED) suddenly (and after pressure from the White House) refrained from additional interest rate hikes. Since July, the FED has deftly lowered interest rates three times. But, global debt has now surpassed $250 trillion by the end of the 2nd quarter and the total amount of cash owed to lenders is worth more than three times the global GDP. This level of debt is clearly unsustainable.

Trump Administration Policy

As a candidate, President Trump said the U.S. was 'in a big, fat, ugly bubble'. But as President, he has been the biggest cheerleader for a stock market that continues to make all-time highs. So, did the 2016 election make the bubble go away? Does the U.S. national debt (now over $23 trillion) no longer matter? While there has been positive economic progress over the past three years, stock market gains have been completely illusory. Low interest rates have enabled corporations to borrow money to fund stock buybacks (estimated to hit $480 billion this year) and contribute to the artificial rise in stock prices. The current administration has taken the bubble they inherited and encouraged it to get blown even bigger. Curiously, President Trump tweeted on September 11, 2019 (around the same time as problems began in the repo market) that the FED should 'get our interest rates down to zero, or less, and we should then start to refinance our debt'. For myself, that is the exact problem with our existing system. No one person (not the President, the FED Chairman or anyone else) should have the authority to devalue a nation's currency. It is unlikely that the U.S. can have a sound economy with negative interest rates as even FED policymakers are skeptical.

So, why has the Trump administration kept this bubble in place? I believe there are two key reasons. First, there is a strong feeling that the onset of mild economic contraction would prove impossible to contain and lead to economic depression. The second answer relates to geopolitical considerations. As covered last year, the Trump administration views China (and by extension the China - Russia - Iran axis) as a more immediate threat to U.S. interests than the FED. Since the U.S. dollar is the world's reserve currency, the U.S. holds an inherent advantage over any other country. A strategic decision has been made to keep the financial system afloat (and keep the U.S. dollar as the world's reserve currency) while using economic war via sanctions to weaken U.S. enemies.

Recently, Iran has dealt with an economic crisis as a result of these sanctions. CNBC reported that Iran's 'oil exports have dropped from 2.5 million barrels a day after the lifting of sanctions in 2016 to 400,000 barrels per day and perhaps as little as 200,000'. Newsweek recently declared that the result of sanctions has 'created unrest that is weakening the Tehran government at home and abroad'. According to this report, it is the banks that 'pull money out of people's pockets as deposits and invest in profitable business sectors such as tower construction, import projects, and brokerage through the private chain and satellite institutions and companies, rather than lending to factories and institutions. Eventually, profits of these investments turn back to the pockets of the banks' shareholders, who are affiliated with the government'. Perhaps, Iranian protesters were targeting some of these banks that they burned down during the recent uprising. In addition, multiple Chinese banks have been in crisis in recent months. To counter U.S. influence, the BRICS (Brazil, Russia, India, China, South Africa) nations have discussed issuance of a cross-national digital money in order to reduce the dependence of their economies on the U.S.

Freedom vs Slavery

In a true 'free market', private banks should be allowed to fail. Profits should not be privatized with socialized (protected) losses. The core issue is freedom and central banks will eventually be [cornered]. Supporters of a central banking system believe that since banks are such a vital part of the economy, they should be protected. Unfortunately, if bankers are assured of getting 'bailed out', there can never be any incentive to prevent unnecessary, reckless risk taking. As I've said previously, there is no way the U.S. can consider itself a 'free' country when the ultimate power remains embedded with a cadre of bankers. Money itself does not need to be defined by banker overlords. It can be defined as whatever people want it to be. The U.S. dollar is a Federal Reserve Note and backed by nothing. In spite of 30% Americans who believe the U.S. dollar is backed by gold, every day, more people are waking up to this reality.

Alternatives to Existing System

So, to obtain our desired 'freedom', an alternative to the U.S. dollar must exist. For any currency to be effective, it must function as a unit of account, a medium of exchange and a store of value. Since an overwhelming majority of business and consumer transactions today are done digitally, any replacement must be in a digital form. In my opinion, there are potentially two viable alternatives to the U.S. dollar - a digital currency backed by precious metals and cryptocurrencies like Bitcoin. I do not view stablecoins backed by fiat currencies as much of an alternative although they can act as a gateway to proof-of-work or proof-of-stake cryptocurrencies.

Recently, there were rumors of China launching a digital cryptocurrency. Noted economist Daniel Lacalle was highly skeptical of the move. He stated that 'China cannot disrupt the global monetary system and dethrone the US dollar when it has one of the world’s tightest capital control systems, a lack of separation of powers and weak transparency in its own financial system'. Any issuer (either a sovereign country or private firm) of such a digital asset must store the underlying asset (i.e. gold, silver) somewhere and perform periodic audits. One can not discount sovereign risk (i.e. war, regime change, etc.) and counterparty risk.

The most popular cryptocurrency, Bitcoin, has a fixed supply of 21 million (after all coins are mined). No entity can create more coins than its limit and thereby debase Bitcoin's value. The argument that Bitcoin is 'backed by nothing' is highly misleading. Cryptocurrencies provide an easy way for any individual around the world to 'opt-out' of the existing system and start a new one. Bitcoin is not only a decentralized cryptocurrency but it is censorship resistant. Examples of censorship like Chase Bank that terminated banking services of conservative media personalities and HSBC Bank that banned a corporate account allegedly related to the Hong Kong protests will be a remnant of history. Bitcoin does not account for the individual or business' political leanings.

Government & Banking Industry Roadblocks

According to some economists like Alex Krüger, the price of Bitcoin has nothing to do with macroeconomics. Krüger makes a valid point that 'it is such an illiquid/fragmented market that in the absence of mass influx of new buyers, actions of a few determine direction'. Normally, with heightened global tensions, one would expect the price of Bitcoin to explode higher. Instead, the price of Bitcoin has languished the past few months. But, the following two events provide greater transparency to the present situation.

1. Precious Metals Manipulation - In September, the U.S. Department of Justice filed racketeering charges against three employees of JPMorgan Chase & Co. They described the firm's precious metals trading desk as a criminal enterprise operating inside the bank for nearly a decade.

2. Popping the Bitcoin Bubble - In October, former chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo admitted to U.S. government interest (and likely involvement) in 'popping the bitcoin bubble'. He even made a bizarre statement in support of derivatives, 'If you don’t have that derivative, then all you’ve got are believers [and] it’s a believers’ market'. I am not aware of any mandates requiring government agencies to 'pop' bubbles.

These two examples show the determination of these entrenched powers to maintain the status quo. These powers continuously work to crush the perceived value of any asset (such as gold, silver or Bitcoin) that is a potential competitor to the U.S. dollar. The history of both the banking industry and government corruption validates the enormous challenges with affecting real change.

In addition, another immediate problem with Bitcoin is volatility. A legitimate global reserve currency can not depreciate, as Bitcoin did, by approximately 84% from its all time high ($20,000 --->; $3,200). Importantly, there is still a gross stigma associated with such a decline. Today, many people who have heard about cryptocurrencies in passing (or who passionately dislike it) view Bitcoin solely within the context of its price crash. (Although it increased by over 20X in one year prior to the downtrend) The price of Bitcoin will have to exceed its prior all-time high of $20,000 (and probably greater than $50,000) for this stigma to subside. But, since we do not have anything close to a free market, price discovery is especially difficult. Even Ethereum co-founder Vitalik Buterin criticized centralized exchanges, hoping they ‘burn in hell’.

How Do We Achieve Freedom

Conversely, maybe you don't care about your monetary freedom. Right now, life is good. You can go to the store and buy food, take a road trip, or go shopping at the mall. Why would anyone want wholesale changes in their lives? People like Peter Schiff have been ranting about a U.S. dollar collapse for years. Maybe these central bankers aren't so bad after all. Maybe they really care about all of us. These banking liquidity issues could not possibly be tied to any systematic failure. Cryptocurrencies are just too complicated and not needed.

Well, if you believe all of this, you should stop reading and put your head back in the sand. If you think bankers really care about you, then you are quite naive. Compare your grocery bill from 5 years, 10 years, and 20 years ago. Prices have consistently gone up. This hidden inflation is not officially reported by the government, but it is real and will only get worse.

Since it is not prudent to rely on the government for much of anything, especially to help fight off central banks like the FED, any change must arise from the will of the people. We are starting to see coordinated efforts as seen with NFL players asking for payment in Bitcoin. I envision a time where individuals come together, select a coin they like, invest in it and then demand payment in it. Of course, this would take years of coordination and planning.

The Future World Without Dependence On Banks

As we lessen our dependence on banks, many questions remain open. For example, how can we address changes to law enforcement when cryptocurrencies allow anonymous transactions? At a recent conference, the Deputy Secretary of the U.S. Treasury Department questioned how 'digital currencies can potentially be used to evade existing legal frameworks'. He also raised the following questions: 'If a cryptocurrency checked all the near term regulatory boxes today and grew to scale, what would be the process for making changes to rules governing the currency in the future? For instance, if a decade from now there were a desire for a stablecoin to go from fully reserved to partially reserved, or to shift its underlying mix of reserve currencies, would that decision be made by a private governing association? Or by a majority of coinholders? What if foreign actors had acquired a majority of the coins? In any case, would important decisions about our economic system have been taken out of the hands of representatives accountable to the people?'

In the future, I could see a scenario where Bitcoin and other cryptocurrencies compete with sovereign digital currencies backed by assets like gold. I am skeptical of central banks simply issuing digital currencies that are not backed by an asset. For something to be a store of value there must be an element of scarcity. While some would prefer the safety of a a sovereign digital currency, others may prefer Bitcoin. Today's central banks would be stripped of not only controlling the money supply but also of defining it. This change could lead to a separation of nation and currency. What happens if a rogue state like North Korea uses cryptocurrencies to evade sanctions? Geopolitics would be upended as the weaponizing of the U.S. dollar via sanctions would cease. Since U.S. citizens are so heavily dependent on government programs, it will be difficult to avoid societal upheaval. Freedom does not mean free stuff. Are we in the U.S. ready for some (if not all) government programs to go away? Thomas Jefferson once said 'I prefer dangerous freedom over peaceful slavery'. Perhaps, someday, we'll find out how all Americans feel about that.

This article was originally posted on hype.partners' Medium page.

Are Vaccines Safe?

Are vaccines safe?
Do you trust the CDC?
Do you trust the mainstream media? Where does their advertising revenue come from?
Do you trust Big Pharma?
What did Q say about 'most all powerful organizations'?
What did Robert F. Kennedy Jr. discuss with POTUS when they met two years ago?
Who was Dan Olmstead? Who was he supposed to meet before his death?
Who was Daniel Best? What was his role? What happened to him?
>90 Holistic doctors, Nagalase - Coincidence?
CA SB276 - A database set up for what?
Who runs CA? Who really runs CA? i.e. AJR-44, Port of Long Beach, Hollywood, Clinton server, Feinstein driver, fentanyl, etc.
Biden - 'not competition for us'
Follow the money.
What if the trade war is a cover for something much deeper?
Has FLOTUS made any statement regarding vaccines? Why not?
What did Q say about vaccines?
Just asking questions.
Think logically.
Make Vaccines Safe Again.
Make California Great Again.
AY

Troop Pull Out of Syria by President Trump Does Not Sell Out Israel

 

President Trump has boldly moved towards Senator Rand Paul's non-interventionist foreign policy with his decision to pull troops out of Syria. As expected, the DC establishment is upended with pundits decrying the move and in this case calling it 'reckless'. I strongly agree with the President's decision to pull troops out of Syria (and Afghanistan). There was no Congressional approval for any military action in Syria and the U.S. presence there is arguably unconstitutional.

One of the President's critics foolishly declared that he is bad for Israel. Prior administrations have had a mixed relationship with Israel (military aid that comes with strings attached does not automatically make the U.S. a great friend of Israel). Conversely, President Trump has aligned the U.S. with Israel more so than any prior administration.

So, does this decision sell out Israel? Not at all.

According to U.S. News & World Report, Israel currently ranks as the 8th most powerful country in the world. In the past, U.S. officials (specifically the State Department) would constantly ask that Israel use 'restraint' in conflicts. Israel is more than capable of meeting its security needs and does not need a supervisor providing 'guidance'.

Most importantly, Israel's security is ultimately decided on from the highest power. As written in Devarim (Deuteronomy) 11:26-28:

'See! I give you today (a choice of) a blessing and a curse. The blessing, when you listen to the commandments of G-d your Lord, which I command you today. The curse, if you do not listen to the commandments of G-d your Lord, and you deviate from the path which I command you today, in order to follow other gods which you did not know.'

So, we learn that if Jews follow the commandments, they will be blessed and if they do not follow the commandments, they will be cursed. Israel's existence has been a testament of countless miracles. If more Jews understood the true source of their power (not the IDF, Mossad, etc.), there wouldn't need to be any concern over U.S. foreign policy.

Global Debt Bubble Set to Burst as Mass Awakening Will End Central Bank Control

The yellow vest (a.k.a. gilets jaunes) protests in France are a sign of a populace that has grown more discontent with their falling standard of living and who feel completely disconnected from their elected politicians. The protesters have a wide range of concerns (i.e. immigration, taxes, free trade, benefits, etc.) that do not neatly fit into the left-right paradigm. It also appears that display of anger is spreading throughout Europe as in Belgium:

A retired man told RTBF that he receives a pension of €1,350 a month. “I get it on the 23rd of the month. It’s now the 8th and after I’ve paid insurance, rent, energy bills – which cost €150 – I only have €200 left for living expenses,” he said.
...
One protester gestured to the European institutional buildings behind him while talking to a NBC Euronews reporter. “There, in ‘Europe’, they’re having fun, they’re laughing," he said. "The people who make the laws are the ones driving us further into the ground. We have empty pockets. We shouldn’t be called the ‘yellow vests’, but the ‘empty pockets’.”

I outlined how the current economic system is not working well for 35% - 40% of Americans in my previous article. I view central banks, especially the Federal Reserve (FED), as a large part of the problem. For a more detailed history and analysis, I highly recommend the book 'The Creature from Jekyll Island: A Second Look at the Federal Reserve' written by G. Edward Griffin. Former Congressman Dr. Ron Paul called it 'a superb analysis deserving serious attention by all Americans'. I unequivocally reject critics who smear the book as 'conspiracy theory' and scurrilously attempt to demonize anyone who engages in critical thinking. Just because the FED website ends in .gov does not make it a government institution. The FED is a private corporation and as federal as Federal Express. For anyone who thinks the FED knows exactly what it is doing, recent remarks from Vice Chairman Richard Clarida's about how the FED Chairman is 'in a darkroom' would probably not inspire confidence.
While it is unclear what direction the protests will take, the Europeans appear to be going through a mass awakening, similar to the one in the U.S. It would likely impede any central bank from bailouts in the near future.

A few points that I want to reiterate:

• The era of central banking (FED's inception was in 1913) has been marked by war (WWI, WWII, Korea, Vietnam, etc.) and numerous regime changes (courtesy of the CIA).
• There is no way the U.S. can consider itself a 'free' country when the ultimate power remains embedded with a cadre of bankers.
• The era of central banking is coming to an end as the FED will either be either dissolved, [restructured] or phased out.

Central Banks Face Math Problem

The world is addicted to cheap credit, the FED rate increases are hurting the economy, U.S. corporations are under duress and U.S. debt continues to explode. One may ask how I could be so confident in my assessment that the existing fiat currency system will end. My answer is very simple - basic math. I previously warned about the massive risk of derivatives to the financial system and detailed how the debt (now at $21.87 trillion) puts the solvency of the U.S. into question. CNBC reported last month how U.S. companies are carrying a $9 trillion debt load (86% higher than 2007). Analysts worry that companies teetering between investment grade and junk status could cause market trouble should their standing deteriorate. Bloomberg just reported how global debt hit a record $184 trillion last year, equivalent to more than $86,000 per person. Central banks tried to solve the 2008 financial crises by lowering interest rates and adding more debt. The original debt was mostly not written off and an inevitable crisis was simply deferred.
Interestingly, Mike Maloney put out a recent video on the 'financialization of government' where there exists strong correlation between the stock market and tax revenues. If the stock market does not do well, the FED must print money to lift stock markets to get enough revenues. This dangerous predicament approaches Ponzi scheme conditions.

There have been a couple of dramatic updates in recent weeks.

Update #1 – Closing Days of the Petrodollar

The petrodollar system (in effect since the 1970s) is the primary reason the U.S. dollar is still the world's reserve currency. Oil producing countries like Saudi Arabia do not sell their oil in currencies other than U.S. dollars. In recent years, there have been senseless wars in Iraq, Libya and Syria to protect the petrodollar. Without this agreement, the U.S. dollar would likely lose its role as the global reserve currency over time. China has made serious efforts to assert hegemony in the Middle East and in March introduced oil futures contracts priced in Chinese yuan. These contracts have achieved a 16% share of the global market and reached a pace of expansion termed as 'explosive'. The repercussions of Saudi Arabia breaking ties with the U.S. and moving closer to China are unknown but potentially volatile. The recent vote by the Senate to end U.S. support for the Saudi war in Yemen could hasten this break. Stunningly, a new report claimed the U.S. has become a net oil exporter for the first time in 75 years. While this may have been slightly misleading, the trend towards energy independence for the U.S. could render the petrodollar system obsolete and irrelevant in a few years.

Update #2 – U.S. Has Gold

In 2015, President Trump (then a private citizen) was asked if he could envision a scenario where the U.S. could go back to a gold standard. He had some interesting comments:

“In some ways, I like the gold standard and there is something very nice about it but you have to go back at the right time… We used to have a very solid country because it was based on a gold standard for it. We do not have that anymore. There is something very nice about the concept of that. It would be very hard to do at this point and one of the problems is we do not have the gold. Other places have the gold.”

According to some sources (which will be covered in a future post), the U.S. now has the gold.

Gold Standard

It is somewhat difficult to envision how a gold standard would work in today’s digital economy. Last year, former FED Chairman Greenspan confirmed its historic value:

"The gold standard was operating at its peak in the late 19th and early 20th centuries, a period of extraordinary global prosperity, characterized by firming productivity growth and very little inflation.
But today, there is a widespread view that the 19th century gold standard didn’t work. I think that’s like wearing the wrong size shoes and saying the shoes are uncomfortable! It wasn’t the gold standard that failed; it was politics."

Gold has played a part in policy even after Nixon closed the gold window and broke up the Bretton Woods system in 1971. According to this Forbes article, a panic occurred between 2011-2012 and to prevent a further decline in the dollar’s value there was probably ‘financial market manipulation at an unprecedented level’.
According to another Forbes article, ‘having a gold-linked currency made the selling of bonds, or equities, also known as international capital flows, much more attractive. The great era of the worldwide gold standard, in 1870-1910, was a time of internationalization, free movement of capital, and high levels of investment in emerging markets.’. As the U.S. trade deficit jumped to a 10-year high in October, it is unclear how the U.S. could maintain this imbalance without losing all its gold. It would be prudent U.S. policy to reduce its trade deficit prior to implementing any sort of gold standard.

Cryptocurrency Future

I received a few humorous personal attacks in my last article where I merely suggested that cryptocurrencies could provide an 'unknown path with the possibility of a better future'. I believe the future is promising for blockchain technology. No one can say with certainty that Bitcoin or another cryptocurrency will replace the U.S. dollar as the world's reserve currency. Several cryptocurrencies have dedicated development teams, miners and advocates that represents a kind of community. But, as evidenced by the Bitcoin Cash war, individuals take actions that do not always represent the community’s best interest. Regardless, an infrastructure is being built to attempt to coexist with (if not supplant) the existing monetary system. The upcoming January 3 Bitcoin Proof of Keys day to declare ‘monetary sovereignty’ should be watched.

Summary

• The global debt bubble is on track to burst
• The mass awakening in Europe (in addition to the U.S.) will impede any central bank bailouts
• Higher U.S. energy production could render the petrodollar system obsolete
• A gold standard is the most readily available alternative to the system of central banking but with the risk to the U.S due to excessive trade deficits
• Cryptocurrencies hold promise but are not ready at this time to replace the system of central banking

Future Developments

I certainly would never pick a date for any sort of financial crisis nor offer financial advice. But Internet entrepreneur and political activist Kim Dotcom does offer somewhat provocative advice via this tweet. I guess anyone with capital can’t say they haven’t been warned. I completely understand how many readers may have difficulty coming to terms with such radical changes to our monetary system. People have been literally brainwashed into thinking the FED acts as some benevolent force for the common person’s best interest. Sorry, bankers at Goldman Sachs are not ‘doing G-d’s work’.

There is unfortunately a large entrenched establishment intent on maintaining the status quo. As Upton Sinclair said, "It is difficult to get a man to understand something, when his salary depends upon his not understanding it!". I do think there will be serious displacements in the workforce. I would guess that the banking, media/entertainment, and defense contractor industries along with the political bureaucracy in Washington DC would be adversely impacted. Many employees will need to transition to other areas of work. Since I do not endorse wealth confiscation (aside from extreme cases), I do foresee a problem. How do the estimated 35% - 40% of Americans (referenced earlier) who have hardly any savings obtain access to capital? I am sure there is a great plan out there.