FRA Co-founder Gordon T. Long is joined by Jeff Berwick in discussing the
article Central
banks beat Bitcoin at own game with rival supercurrency, the
central banking system, and blockchain technology.
Jeff Berwick is the founder of The
Dollar Vigilante, CEO of TDV Media
& Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker
at many of the world's freedom, investment and gold conferences including his
own,Anarchapulco, as well as regularly
in the media including CNBC, Bloomberg and Fox Business.
Jeff's background in the financial markets dates back to his founding of
Canada's largest financial website, Stockhouse.com, in 1994. In the late '90s
the company expanded worldwide into 8 different countries and had 250
employees and a market capitalization of $240 million USD at the peak of the
"tech bubble". To this day more than a million investors use
Stockhouse.com for investment information every month. He has since started
numerous businesses including TDV Offshore
and TDV Wealth Management to
help others internationalize their assets.
Fiat Currencies and Bitcoin
There's going to be a lot of chaos this year, beginning in January with
the worst first month of the world stock market in history. A lot of
financial leads have been warning about it, even saying this is a debt
jubilee and will end up in utter collapse if people aren't careful.
"I think by 2018 they'll be bringing in a one world currency...
All Fiat currencies, including the US Dollar, are going to collapse sometime
between 2015-2020."
The market came up with a solution. Launched in 2009, Bitcoin is a free
market currency, and one of the ways that we can avoid this total collapse.
Response to Ambrose-Evans Pritchard
"It looked like a propaganda piece, like it was written by the
Bank of England as a press release."
In no way does this new central bank crypto-currency compete or defeat
Bitcoin in any way. In fact, central banks are extremely worried about
Bitcoin. They're trying to bring everyone into the banking system so they can
establish a one-world central bank and taxation system. They planned to create
a system that impoverishes people to get the wealth into the hands of the
0.0001%.
They want to collapse the entire system so they can bring in a new system.
We're reaching the end of that plan, when every government is insolvent with
debt. The US Federal Reserve has essential kept interest rates at zero for
eight years, because if interest rates rise the US government would quickly
be insolvent.
"With $19T worth of debt, if the interest rate rose to 10%, a very
low level, that'd be almost $2T a year in interest payments alone."
They're trying to delay that and get everyone into the banking system
first. If you try to open a new bank account, it's very difficult and they
want to know every detail because it's going into a central database so no
one can evade taxes. Then they're going to go even further with negative
interest rates and really impoverish people.
If people start getting into Bitcoin, they can't control it. The only way
would be to turn off the internet or the power.
Bitcoin
Bitcoin is an internet-based currency that's completely decentralized. To
get rid of it, they'd have to remove it from the millions of computers around
the world, and that's almost impossible. If you control the money supply, you
control the governments. That's what the Federal Reserve and all central
banks do.
"The governments do not control the big decisions. It's the people
behind the scenes who control the money, who tell the government what they
want done, and that's been going on for decades."
Bitcoin cannot be fraudulent because it's open-source software. Anyone who
wants to can look at the code. There's no CEO, there's no central office, and
it's on so many computers they can't stop it. Central banks want to tax
everything and control the economy.
"I don't call things like Bitcoin a revolution so much as an
evolution. It's creating something that circumvents the entire system
completely."
Blockchain Technology
Blockchain type technology could change everything, and goes beyond just
money. This could be where everything is based. This technology is also
starting to being used be for governance, starting in Africa, as a system of
private property. Eventually it could be used to replace the government.
"Your average person still doesn't know what a big deal is going
on behind the scenes, but this is going to revolutionize the world... There's
going to be so many things built on top of this technology that it's going to
change the world."
Back to The Article - RSCoin
Central banks will get rid of fiat currency and use RSCoin instead, but
since it's a crypto-currency it can be tracked even more. The population will
likely use it, but it does not "beat Bitcoin at its own game".
RSCoin will supposedly be good as it gives the government and central bank
more control over the money system, and this will apparently make us less
prone to boom-bust cycles. However, the central bank's control over interest
rates is what creates boom-bust cycles in the first place.
Thoughts for The Future
You want to get your assets out of the banking system, especially
anti-system sorts of investments and trades and speculations, ad moving
assets out of your own country.
"You want to get assets internationalized. That's the new
diversification in my opinion: not stocks, bonds, or cash, it's where your
assets are, in what countries are they, and under what structures are
they."
We're headed for a collapse, and how it plays out is anyone's guess. This
is going to be a time talked about in history for centuries, after the
collapse happens. We have a global fiat currency that is just computer bits
controlled by central bankers with no intrinsic value, and they will return
to that.
"Do your own research. There' a lot more going on out there than most
people know."
Abstract by: Annie Zhou
Video Editor: Min Jung Kim
