Posted on 12/06/2024 6:37:11 AM PST by delta7
QUESTION: Mr. Armstrong, I just had to write in to say thank you for explaining that Bitcoin was just a trading asset, not some new currency that would replace the dollar. I understand that money must be elastic to grow with society in economic booms and population.
I just read a quote reported by Bloomberg: “After four years of political purgatory, Bitcoin and the entire digital-asset ecosystem are on the brink of entering the financial mainstream.” I know a programmer who said you were correct that the Deep State created blockchain. Has this recent rise been orchestrated to get us to surrender paper money and rejoice so they can track us all?
ANSWER: I participated in a documentary that will be released soon. There is no question that the blockchain code was developed in the intelligence community. We all know that in the programming world. In 1996, the US government released a white paper entitled “How to make a mint: the cryptography of anonymous electronic cash.” Released by the National Security Agency Office of Information Security Research and Technology, this document basically explains how a government agency could create something like Bitcoin or another cryptocurrency. (SEE BELOW).
Has Bitcoin been manipulated more to make people think digital currencies are better than paper? There is a strong probability of that. This is clearly a dream of tyrants. If I give you $100 bill they do not know where I got it from. If I pay you in Bitcoin, they can trace it to everyone who has ever handled it. This is a control system. This is the END OF MONEY! A new documentary film will be coming out soon on this topic.
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Here is Lagarde on digital currency. She states this object is “control” everything you do. Europe is a Marxist Paradise. Everyone is an economic slave and whatever they earn belongs to the state – not them.
The state will decide how much you are allowed to keep. I really do not understand these Bitcoin people if they deliberately try to convince us to surrender all liberty. With digital currency, they can block even a donation to a political opponent like Trump.
Even when creating the Euro, the commission took the entire back row of our conference held in London in 1997. I do not understand why it is so hard to comprehend what a currency is – but then again, some have trouble defining a woman.
They were selling the Euro, which would defeat the dollar. That, too, never took place. They were preaching that everyone would pay the same interest rate as in the USA. I warned them that would only take place if they consolidated all the debts as Hamilton did following the American Revolution.
Kohl took Germany into the Euro as a dictator because if the German people were allowed to vote, he admitted he would have lost 7 to 3. We do not live in a democracy. That is sheer propaganda. They make the decisions, and when they know the people will not accept that, even like war, they do it anyway. We mean nothing at the end of the day.
They sold Bitcoin as it would be free of central banks, a store of wealth, and eliminate inflation, all absolute total BS that was impossible in the real world. I have warned that this has been a fantastic sales job, and pushing the price up creates the image that it is somehow worth more than paper money, so surrender everything and go digital.
People have been braindead when it comes to comprehending what money is and love to cling to stupid theories that will only lead to a major depression. They do not even understand that because the Fed was fearful of inflation during the Great Depression, to support the dollar, they failed to expand the money supply, fearing that the dollar would crash.
Over 200 cities issued their own money because there was such a shortage of cash that businesses could not function. It was impossible to pay employees, and people had no cash to spend. This was called depression script.
Whenever there is a recession or depression, people reduce their spending and hoard their wealth, contracting both spending and investment. This is a fact proven by the hoards of ancient Roman coins during the turmoil of the 3rd century. The money supply peaked in 1929 and contracted into 1933. This is why there was such a shortage of money that it led to over 200 cities issuing their own depression script just so they could function.
We find the very same human response during the financial Panic of 33AD. There was such a shortage of money so we find that private tokens appeared, similar to what took place during the American Civil War and the Great Depression of the 1930s.
The firm Seuthes and Son, of Alexandria, was a firm facing difficulties because of the loss of three richly laden ships in a Red Sea storm, followed by a fall in the value of ostrich feathers and ivory. Nearly at the same time, there was the house of Malchus and Co. of Tyre with branches at Antioch and Ephesus. They suddenly became bankrupt as a result of a strike among their Phoenician workmen and the embezzlement of a freedman manager.
These two failures also affected the Roman banking house, Quintus Maximus and Lucious Vibo, operating in the Roman forum. We saw the same reaction: people hoarding their wealth, and the severe shortage of money led to the appearance of private coinage.
You see the shortage of coinage during the American Civil War prompted a host of civil war tokens that circulated also as money. The same took place in Germany after World War I, and during the 1840s with the Sovereign Defaults of several US states that are known as the Hard Times Tokens.
Bitcoin can NEVER become the reserve currency for the entire political system, which must be changed, ending socialism. It would be impossible. All social programs would come to an end, and there would be massive deflation and civil unrest. The money supply always contracts during a recession and depression. We blame the central banks and the dollar when that is like blaming the gun for a murder rather than the guy who pulled the trigger.
This is all about CONTROL. The computer has warned that between 2020 and 2032, we will witness the rise of authoritarianism. Governments are on the cusp of an international sovereign default. They are pushing for war as a distraction. The Digital ID and Digital Currency are no different from the paranoia of Joseph Stalin and his great purge to eliminate people he feared by revolting against him.
Bitcoin is a trading vehicle as people buy into the propaganda. In the end, the truth always prevails.
Just do not expect it to become the reserve currency or stop inflation singlehandedly.
It’s a trading vehicle because people will buy because of the propaganda – just keep it real
Exactly... Mortgage? Food? Gas? Does it work with the power out or after a natural disaster?
No? Hmmm...
So... black markets obey the law?
Weird how even those markets have a means of exchange absent your precious “law”....
“Bitcoin is hope.”
I just wish my creditors would accept payment in some of that “hope”.
If I tried offering some of that “hope” to a local tradesperson in payment for services rendered he would probably punch my lights out...
Lol.
Even street corner drug dealers want cash instead of Bitcoin.
Lol.
Amazing how wrong you can be to try to prop up your eletronic fantasy currency...
Who F* cares about black markets??
You said that currency is created by the Law... This was not entirely true. Black Markets are an example of why even if BTC was made National currency... Some folks just aren’t going to give a shit...
BTC can be blocked by government, effectively stopping black markets using it. You guys really haven’t thought this through.
ANYTHING ELECTRONIC CAN BE CONTROLLED!!!
Black markets will use gold, silver, drugs, slaves, as currency.
YOU stated that the Law declares what currency is... This is patently false.
And BTC is stupid. On every level. It’s a joke that people are wasting real wealth on... The only thing less valuable than a piece of paper as a trading commodity is an electron.
Black market barter is not currency. Currency is defined by the government. You are trying to define barter as currency.
People wanting digital currency are the same ones who want a chip in their hand so they don’t have to manage a wallet or money. They are lazy and childish morons. They want someone else to manage their lives for them. They are the same ones that want a communist style “minimum income” so that they can buy the basic necessities while spending their days cruising for porn.
Bitcoin is the modern version of tulip bulbs.
Some folks made a fortune on tulip bulbs.
Of course these days scams need a huge pile of techno-babble and a bit of libertarian icing on the cake to make the sale.
If I am going to gamble I prefer casinos—but to each his own.
That was a jibe at the old-timers who still use cash as garage sales, LOL.
LOL- I live in rural Wyoming.
I always laugh when someone writes that I’m wrong... without any attempt to specify how. :-D
ROFL. If the elites could have destroyed it, they certainly would have. And through many acts of sabotage, censorship, bans, lawfare and so on they tried. And failed miserably as instead of being destroyed it became a multi-trillion behemoth... and counting.
Literally yesterday: “Who can ban Bitcoin? Nobody."
-Vladimir Putin
The word is "scrip". Though the superfluous "t" was actually printed, spelled on some forms of currency at that time, the correct word should be without it. Wouldn't Armstrong know something like that?
https://www.depressionscrip.com/
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