Cryptocurrencies: The War of Attrition for Central Banks

The year begins with a strong blowout for Bitcoin and its descendants: the prices of the main cryptocurrencies have largely unscrewed while the year 2021 was full of all-time highs and violent movements, sometimes fueled by the statements more or less clever ones from one industry guru or another, and the rapid media coverage of non-fungible tokens (NFTs) has greatly added to the excitement of the very special cryptocurrency market.

However, and as I mentioned then last March in a post on this subject, this media coverage and these violent movements (both ways, up and down) partially mask several basic phenomena that some are beginning to perceive.

On the one hand, cryptocurrencies are here to stay and labor pains don’t change that; if Bitcoin and most of its serious descendants had to die, they would have done so a while ago.

On the other hand, as incredible as it may seem, if these cryptocurrencies continue to exist despite everything and, even better, to appreciate more and more solidly over time, it is good that they fill a need and cover functions that previous competitors do poorly. or not at all.

Thus, we can smile at the arguments that we will generously describe as amusing by the despisers of NFTs who, opaque to the concept, do not understand the enthusiasm to which they are subject: although we can easily accept that some prices of these tokens and the speculation that surrounds them are part of a clearly disproportionate mass madness, although already common in the world of cryptocurrencies, the truth is that the basic idea (which, in short, finally allows rival goods to be created in the digital world).

However, this represents, like the triple-entry accounting introduced by DeFi (decentralized finance) technologies, true major revolutions that, gradually and in contact with the real market, acquire value and now look for a price. It will probably take years yet, but the process is undeniably underway.

However, such revolutions in the management of private property rights, finance and money creation cannot take place without due notice and evaluation by the current financial authorities, whose power is ultimately based intrinsically on the money and the management of private property.

Yes, the physical world, particularly that of central banks and fiat currencies, is closely watching what happens to digital currencies… And not necessarily with a keen eye.

Here I want as proof the elements collected by Sam Callahan in an interesting Twitter thread in which he summarized the trends he observes on this topic. As it is a thread in English, here is a synthetic summary, with the links it provides, so that you can form your own opinion.

For Callahan (and I tend to agree with his position), everything indicates that these central banks, and above all, behind them, the Bank for International Settlements (BIS), will do absolutely anything to, if not destroy (!), the less regulate (until death) independent cryptocurrencies to allow only those that they have chosen or, more simply, issued directly under their domain to survive.

This is how in its recent 2021 annual report, the BIS advocates (I give you a thousand) a global digital identity system, which reminds us in passing of an antiphon of the Great Reset, and that obstinate will to put each individual behind a Barcode.

Therefore, it is not surprising that this financial entity is in favor of widespread vaccination (under the pretext that this alone will allow an economic recovery) and the rapid implementation of CBCDs, these central bank digital currencies that will come as a pure replacement of the simple euro (and other dollars or pounds) that you handled until now.

Obviously playing on the usual nonsense that sees Bitcoin as a practical currency for money laundering, terrorism and, in the spirit of the times, a threat to the environment because it consumes too much energy (which is grossly stupid, by the way), therefore, the institution believes that everything must be done to combat this abomination over which it has no control.

In his idea, the replacement of Bitcoin goes through the use of good ideas that cryptocurrencies have implemented, but under the exclusive responsibility of central banks. In this scheme, each citizen has an account issued directly at their central bank (without any other banking intermediaries) and then each transaction is carried out directly in these accounts.

Intellectually attractive scheme for these bankers since then, the slightest monetary transaction, anywhere in the world and for each individual, each business, each company, can be dissected and analyzed; in a world of “Big Data” (which central banks make extensive use of), this provides particularly sharp possibilities for economic forecasting. Better still, after the analysis comes the policy that can, at any time, decide if a transaction is valid or not, “arrow” the expenses, prohibit some of them according to specific policies (environmental, for example, randomly), or apply fees (inflation for example) to the bank accounts of millions of individuals in a single request.

Let’s be clear: once established, this system immediately gives them full power of life or death (social then physical) over each individual, taken alone or in a group, according to more or less arbitrary criteria.

The twitter thread goes further as the brave analyst of the deep thoughts of these bankers has identified some other elements that leave us more than thoughtful about the future that this clique holds for us: verifying the increase (in a proportion of 6) of tools of surveillance during the covid crisis, they take advantage of it to push the regulations and surveillance of crypto-currency platforms even further, and they do not even hide from admiring the efforts undertaken… by the Chinese communist regime to monitor its population.

Let’s be clear: everything indicates that central banks are becoming increasingly enthusiastic about coming together to form a global system of digital identification and CBDC.

In this chart, Bitcoin, cryptocurrencies in general, decentralized finance, and NFTs appear as an incredible pebble in the shoes of these unelected autocrats, the path of possible escape for people out of a properly mind-boggling financial system in which the ordinary citizen is nothing more than a setting variable, which can be removed with the push of a button.

We have to face the facts: if the nightmares of Orwell and Huxley occur, it will not be with the use of force, with war and direct violence, but simply with the misuse of money that will allow each individual to be enslaved as never before. . before.

In the net

Rank Math Seo Pro Weadown, Wordfence Premium Nulled, Yoast Nulled, PHP Script, Fs Poster Plugin Nulled, Astra Pro Nulled,Woodmart Theme Nulled, Wpml Nulled, Avada 7.4 Nulled, Woodmart Theme Nulled, PW WooCommerce Gift Cards Pro Nulled, Elementor Pro Weadown, Newspaper – News & WooCommerce WordPress Theme, Nulledfire, Slider Revolution Nulled, Elementor Pro Weadown, Jnews 8.1.0 Nulled, WeaPlay, Business Consulting Nulled, WP Reset Pro, Newspaper 11.2, Flatsome Nulled, Woocommerce Custom Product Ad, Premium Addons for Elementor, Jannah Nulled, Consulting 6.1.4 Nulled, Plugins, WordPress Theme, Dokan Pro Nulled

Back to top button