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
“If I tried offering some of that “hope” to a local tradesperson in payment for services rendered he would probably punch my lights out...”
Ah yes. Same for offering to pay in rolls of pennies. Or shares of stock. Or treasures. Or bonds. Many types of instruments that have value that you can’t pay your mortgage with.
Currency is just a short cut for the free exchange of goods and services. It’s not me “redefining” it... It IS the definition.
Commodity based currency libertarians (me) have almost come to blows with BTC pushing libertarians...
Ask me how I know. :-)
Turn off the power, try to buy something with BTC. Government blocks access to your wallet on the Internet infrastructure. Hurricane whipes out everything in your AO. You are trying to pay your mortgage with BTC and your BTC wallet doesn’t work at WalMart...
See? Specifics. Easy.
If Bitcoin wants to be ready for prime time for the masses it needs to be used by regular people for regular transactions.
Otherwise it is just another alleged “investment” with alleged “value”.
To me bitcoin is closer to modern art.
Yes—it has “value” but in a limited market of interest to a select group of people.
You can still get rich in that market—but it has nothing to do with me or my creditors.
I still don’t get it.
I would definitely be on the commodity side of that debate.
I like tangible stuff people can use.
While I am not a big fan of gold or silver at least they have some real world use.
This computer digit stuff gives me a bad case of the creeps.
One wave of somebody’s magic wand and it is gone.
My “grand vision”/”if I were King for day” scheme is to set up an electronic commodity exchange for electronic transfers of ownership for tangible goods. Be it gold, silver, barrels of oil, tons of cotton, whatever...
Base the electronic currency on that and use the block-chain to encrypt and protect the transactions.
Or... You can literally carry coinage in whatever semi-precious base metal you prefer, or warehouse recipts for the same...
Let the currency market fluctuate with supply and demand.
Seems a bit complicated at first, but is WAY better than vaporware BTC or fiat currency based on the hope that your Nation continues to produce wealth and can pay off debt.
I think you are on the right track.
At the end of the day everything is about counter-party risk.
Do you trust people who owe you money to be both solvent and honest enough to pay you what they owe you?
Right now we live in a very low trust society—with good reason imho.
That is a problem that no currency can fix.
Half a gold dinar to install a new OS on your computer?
A transfer receipt for a barrel of light-sweet US crude to do an actual oil change on your car...
Makes a certain amount of sense to me.
Same for offering to pay in rolls of pennies. Or shares of stock. Or treasures. Or bonds. Many types of instruments that have value that you can’t pay your mortgage with.
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I’m not knowledgeable about any of the fact or fiction under discussion regarding currency alternatives, but I have a question. I have a friend who has been hounding me for several years to buy precious metals which he has accumulated in large quantities. What he never adequately explains to me is how he actually plans to use it to pay for everything he wants to buy or for which he is billed by governments or private businesses.
I am making 1 percent per day with an AI trading bot across 40 different coins. Crypto might die someday but not today and probably not tomorrow.
Regular people. Regular transactions.
strike.com and you can use bitcoin to pay mortgages, credit card bills, etc.
You would be insane to spend your bitcoin on bills though. Pay it with the melting ice cube of fiat currency.
strike.me
sorry
People do this in El Salvador every day. you can send bitcoin to anyone in the world instantly and securely for very low cost. You can’t do that with gold.
Spend dollars. Store wealth and energy in Bitcoin. Live inflation free.
Fascinating. The government blocks access to my wallet. On my desktop computer. How pray tell do they do that?
Meanwhile I can find plenty of stories of banks and governments blocking people's access to their own money in fiat institutions every day. Just ask the NRA, or the Canadian freedom convey protestors. You have it perfectly backwards.
Bitcoin is uncensorable, directly contrary to your delusional "your BTC wallet doesn't work" commentary. Anyone can post a TX to the thousands of nodes on the global network, and that's effectively impossible to stop. If someone cut your internet cable you could literally mail me a postcard with the TX and I could post it for you.
It's impossible to prevent uninformed people from having opinions on subjects - but mouthing off like you know what you are talking about doesn't persuade people, it just misinforms others while making a fool of yourself to those better informed.
QUESTION:Many of his post start with that fake sycophantic user statement that that he uses to praise himself and that ends with a question that once again leads to an answer that he uses to promote his services. For martin Armstrong anecdotes and proof of the confidence trick nature, use the google search: martin armstrong The Fan Email Confidence Trick
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ANSWER:
ANSWER:His sentences are incoherent, best described as word salad. He does not even hide the fact that he promotes that video that he has not even be released yet.
I participated in a documentary that will be released soon. There is no question that the blockchain code was developed in the intelligence community. ...
A monthly closing below 2950 will confirm the long-term trend is turning down. A year-end closing below 4150 will point to a drop back to 775 area. It was a trading vehicle â not an investment class for the long-term.Bitcoin closed below 4150 with a closing price of 3747.39 at the end of 2018 but instead it rallied.
bump
DNS filtering or just shutting down the internet.
Look... if you aren't even that up to snuff on what the FedGov controls as far as the "information super-highway" is concerned... You litterally aren't worth talking to.
You seem to think we're still in the l0pht or CDC days of dial-up and truly annonymous internet. You are deluded, or just stupid, if you think anything you do isn't watched and tracked...
You can bury or store private keys in a number of ways. When the grid comes back the private keys will point to the same amounts on the blockchain. The blockchain persists whether the grid is up or not.
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