Thank you so much for distilling our dysfunctional society so succinctly. I have read hundreds of essays which have dissected the various topics but it's wonderful to see it all pulled together. Certainly deserves to be forwarded to everyone I know.
Your insight about connecting these seemingly separate systems is exactly what I hoped to convey with this piece. When we see how all these systems interlock, their full spectrum dominance comes into focus - each fiat system reinforces the others.
bitcoin/crpyto/stablecoins/smart contracts are another fiat system - wish you'd have said gold or silver, but nevertheless your piece is excellent - bravo!
As increasing de-dollarization threatens the USD and consequently the whole global fiat currency construct, crypto currencies play a major role in supporting the USD by:
1. Creating a demand for USD to buy crypto currencies.
2. Diverting funds away from the real threat to fiat currencies, namely real money, gold and silver.
Can you imagine impact on fiat currencies if say 50% of crypto demand was oriented to gold?
As such crypto currencies are a formidable line of defense of the fiat currency construct
You're right to call out my Bitcoin point at the end. I believe BTC deserves a much longer conversation. Whether its origin story is real or an op, the idea itself is spectacular. Whether it was co-opted or not, the core concept remains powerful.
You may be right about it serving fiat interests - the bankers are clearly trying to preserve dollar hegemony through The Genius Act - I covered this in my Boomer Mirage piece last week. But real bitcoiners aren't looking at this in terms of fiat - they're building parallel systems.
The core issue is centralization vs decentralization. The central bankers are trying to steer it toward centralization bc that's what they do - BTC ETFs aren't bitcoin, they're fiat garbage wrapped in bitcoin's name.
Some people in my orbit far smarter than me see BTC as a ponzi scheme, while others who view it as one of the key ingredients we need to remove the fiat debt shackles.
*If* it's real, I do believe it's part of the solution. But given that everything else seems to be fake, this probably is too, right? Of course, I have to consider that possibility. That said, I still don't understand how they can break this system other than price manipulation (which they do with every other asset too).
Can a tool maintain its revolutionary potential even if the bad guys get on board? Or does everything touched by this system inevitably serve their ends? I'm hopeful but not dogmatic about it.
Do you see a scenario where the cabal can control BTC? I'm sincerely asking - again, I have to consider the possibility but I don't understand the mechanism.
Webb argues all stocks are too. Good friends of mine made that film with him, btw.
Following Global Financial Crash, QE1 and QE2 the USD as a reserve currency was put into question by global central banks, resulting in a stagnation in demand for USD in central bank reserves since 2012 at about $4 trillion and a consequent increase gold reserves from less than 32,000 tons in pre-2012 to over 40,000 tons by 2025.
Realizing that the USD is the cornerstone of the global financial monetary construct, and that this is the primary power pillar of the “cabal” which I refer to as “Money Powers” it was critical to:
.
1. Throttle demand for gold which is the antithesis of fiat money.
2. Create a demand for the USD.
3. Avoid excessive consumption with the $ trillions created since the global financial crash and particularly during the Covid-19 charade, as this would fuel hyperinflation, the Achilles heel of fiat currencies.
.
As you state, the solution as all modern social engineering operations has to be packaged as “personal liberation”.
Enter crypto currencies, with the promise of “freedom from the system” that address all the above issues:
1. Cryptos divert from buying gold or silver.
2. Cryptos are bought in USD creating a demand for USD to the tune of $4T!
3. Money parked in cryptos are diverted away from consumption.
.
The only thing allowed to hyperinflate is the Wall Street casino, which is fine as money in equities are also diverted away from consumption, and in any case it will eventually be harvested by the Money Powers as David Webb has made clear.
.
In this period of tectonic geopolitical/financial upheaval, I adopted a policy of: “I own only what I control”.
Fadi - I don't disagree with any of that. In fact, your points about the so-called pandemic as financial engineering align with these analyses (which blew my mind when I read them a couple of years ago):
However, can we decouple "crypto" and Bitcoin? One is a subset of the other but they're not a monolith. A few friends far smarter than me on all things finance are compelled to say Bitcoin is a Ponzi scheme, but they haven't shown me how. I get that big banks will buy it and manipulate the price, but what can't they do that with?
The trackability concern is real - especially since most people have KYC coins - as is the learning curve.
The Genius Act + Tether printing and potential dump scenario is plausible (though I know plenty of people that will *never* sell).
The questions about early development and potential hijacking are interesting given what we know about the information industrial complex but unless there's some quantum computing breakthrough that can crack the encryption and/or create a distributed wallet system to buy >50% of the network (in which case we're all fucked anyway), I just don't see it.
So, I keep coming back to: until someone shows me precisely how Bitcoin gets compromised, it still seems like the hardest money available. Happy to go all gold if that changes, though it has it's own limitations. Either way, the mechanism matters a lot.
One of many things I learned from you, is to search for a pattern or look at the big picture and not get mired in the details.
For Bitcoin as all cryptos especially stable coins, I pose the question, do they fulfill the requirements of "line of defense" for the USD at this critical geopolitical/financial juncture:
1. Divert from buying gold or silver? Yes
2. Create demand for USD? Yes
3. Park money and therefore divert money away from consumption? Yes
Stable coins more so, coz of "backing" with Treasuries hence creating even more demand for the USD and US debt.
"unless there's some quantum computing breakthrough that can crack the encryption and/or create a distributed wallet system to buy >50% of the network (in which case we're all fucked anyway)"
lol lol as you know all listed corporations have controlling shares (over 20%) owned by a handful of hedge funds which they themselves have controlling shares in each other. Vanguard, BlackRock, State Street and T. Rowe Price.
If BTC or crypto do not serve interest of Money Powers, corporations can be forced to reject payments in BTC or crypto generally, or if the corporate owned politicians (quoting George Carlin) are made to issue a law banning BTC or cryptos, what would their value be then?
On a personal level, my belief system is that a livelihood must be earned by value adding work not by speculation. So I avoid all forms of speculation. Preserving savings in tangible debt free assets (real estate, small businesses such as farmland, brewery, etc.) or in real money stored outside the banking system and preferably outside the Empire and its vassals to avoid another Executive Order 6102. Doable but not easy.
Thank you so much for distilling our dysfunctional society so succinctly. I have read hundreds of essays which have dissected the various topics but it's wonderful to see it all pulled together. Certainly deserves to be forwarded to everyone I know.
Thank you for the kind words, Alison.
Your insight about connecting these seemingly separate systems is exactly what I hoped to convey with this piece. When we see how all these systems interlock, their full spectrum dominance comes into focus - each fiat system reinforces the others.
bitcoin/crpyto/stablecoins/smart contracts are another fiat system - wish you'd have said gold or silver, but nevertheless your piece is excellent - bravo!
Fascinating... as usual.
One comment though: "Every bitcoin is a rebellion against their money system."
Is it?
- $4.0 Trillion: Total value of cryptocurrencies https://coinmarketcap.com/
- $3.5 Trillion: Total official central bank gold reserves
https://tradingeconomics.com/country-list/gold-reserves & https://goldprice.org/
As increasing de-dollarization threatens the USD and consequently the whole global fiat currency construct, crypto currencies play a major role in supporting the USD by:
1. Creating a demand for USD to buy crypto currencies.
2. Diverting funds away from the real threat to fiat currencies, namely real money, gold and silver.
Can you imagine impact on fiat currencies if say 50% of crypto demand was oriented to gold?
As such crypto currencies are a formidable line of defense of the fiat currency construct
Thanks, Fadi.
You're right to call out my Bitcoin point at the end. I believe BTC deserves a much longer conversation. Whether its origin story is real or an op, the idea itself is spectacular. Whether it was co-opted or not, the core concept remains powerful.
You may be right about it serving fiat interests - the bankers are clearly trying to preserve dollar hegemony through The Genius Act - I covered this in my Boomer Mirage piece last week. But real bitcoiners aren't looking at this in terms of fiat - they're building parallel systems.
The core issue is centralization vs decentralization. The central bankers are trying to steer it toward centralization bc that's what they do - BTC ETFs aren't bitcoin, they're fiat garbage wrapped in bitcoin's name.
Some people in my orbit far smarter than me see BTC as a ponzi scheme, while others who view it as one of the key ingredients we need to remove the fiat debt shackles.
*If* it's real, I do believe it's part of the solution. But given that everything else seems to be fake, this probably is too, right? Of course, I have to consider that possibility. That said, I still don't understand how they can break this system other than price manipulation (which they do with every other asset too).
Can a tool maintain its revolutionary potential even if the bad guys get on board? Or does everything touched by this system inevitably serve their ends? I'm hopeful but not dogmatic about it.
"BTC deserves a much longer conversation"
Agree
"BTC ETFs aren't bitcoin, they're fiat garbage"
as are all ETFs (The Great Taking, David Rogers Webb)
https://www.youtube.com/watch?v=QeP71CKRZNs&t=12s
Do you see a scenario where the cabal can control BTC? I'm sincerely asking - again, I have to consider the possibility but I don't understand the mechanism.
Webb argues all stocks are too. Good friends of mine made that film with him, btw.
Following Global Financial Crash, QE1 and QE2 the USD as a reserve currency was put into question by global central banks, resulting in a stagnation in demand for USD in central bank reserves since 2012 at about $4 trillion and a consequent increase gold reserves from less than 32,000 tons in pre-2012 to over 40,000 tons by 2025.
.
2012 Global central bank reserves:
https://headlineusa.com/nations-in-the-mbridge-project-are-stockpiling-gold-driving-up-prices/
- USD: $4 trillion
- Gold 32,000 tons: $1.8 trillion
.
2025 Global central bank reserves:
https://headlineusa.com/nations-in-the-mbridge-project-are-stockpiling-gold-driving-up-prices/
- USD: $3.8 trillion
- Gold 40,000 tons: $4.2 trillion
.
Total crypto currencies valuation https://coinmarketcap.com/
- 2012 USD 0.0 trillion
- 2025 USD 4.0 trillion
Realizing that the USD is the cornerstone of the global financial monetary construct, and that this is the primary power pillar of the “cabal” which I refer to as “Money Powers” it was critical to:
.
1. Throttle demand for gold which is the antithesis of fiat money.
2. Create a demand for the USD.
3. Avoid excessive consumption with the $ trillions created since the global financial crash and particularly during the Covid-19 charade, as this would fuel hyperinflation, the Achilles heel of fiat currencies.
.
As you state, the solution as all modern social engineering operations has to be packaged as “personal liberation”.
https://brownstone.org/articles/how-the-information-factory-evolved/
.
Enter crypto currencies, with the promise of “freedom from the system” that address all the above issues:
1. Cryptos divert from buying gold or silver.
2. Cryptos are bought in USD creating a demand for USD to the tune of $4T!
3. Money parked in cryptos are diverted away from consumption.
.
The only thing allowed to hyperinflate is the Wall Street casino, which is fine as money in equities are also diverted away from consumption, and in any case it will eventually be harvested by the Money Powers as David Webb has made clear.
.
In this period of tectonic geopolitical/financial upheaval, I adopted a policy of: “I own only what I control”.
Fadi - I don't disagree with any of that. In fact, your points about the so-called pandemic as financial engineering align with these analyses (which blew my mind when I read them a couple of years ago):
https://thephilosophicalsalon.com/a-system-on-life-support
https://thephilosophicalsalon.com/the-central-bankers-long-covid-emergency-noise-and-conspiracys-best-kept-secret
However, can we decouple "crypto" and Bitcoin? One is a subset of the other but they're not a monolith. A few friends far smarter than me on all things finance are compelled to say Bitcoin is a Ponzi scheme, but they haven't shown me how. I get that big banks will buy it and manipulate the price, but what can't they do that with?
The trackability concern is real - especially since most people have KYC coins - as is the learning curve.
The Genius Act + Tether printing and potential dump scenario is plausible (though I know plenty of people that will *never* sell).
The questions about early development and potential hijacking are interesting given what we know about the information industrial complex but unless there's some quantum computing breakthrough that can crack the encryption and/or create a distributed wallet system to buy >50% of the network (in which case we're all fucked anyway), I just don't see it.
So, I keep coming back to: until someone shows me precisely how Bitcoin gets compromised, it still seems like the hardest money available. Happy to go all gold if that changes, though it has it's own limitations. Either way, the mechanism matters a lot.
WOW! this Fabio Vighi is damn good! Thank you!
"can we decouple "crypto" and Bitcoin?"
One of many things I learned from you, is to search for a pattern or look at the big picture and not get mired in the details.
For Bitcoin as all cryptos especially stable coins, I pose the question, do they fulfill the requirements of "line of defense" for the USD at this critical geopolitical/financial juncture:
1. Divert from buying gold or silver? Yes
2. Create demand for USD? Yes
3. Park money and therefore divert money away from consumption? Yes
Stable coins more so, coz of "backing" with Treasuries hence creating even more demand for the USD and US debt.
"unless there's some quantum computing breakthrough that can crack the encryption and/or create a distributed wallet system to buy >50% of the network (in which case we're all fucked anyway)"
lol lol as you know all listed corporations have controlling shares (over 20%) owned by a handful of hedge funds which they themselves have controlling shares in each other. Vanguard, BlackRock, State Street and T. Rowe Price.
If BTC or crypto do not serve interest of Money Powers, corporations can be forced to reject payments in BTC or crypto generally, or if the corporate owned politicians (quoting George Carlin) are made to issue a law banning BTC or cryptos, what would their value be then?
As George Carlin said it: "The Game Is Rigged!"
https://www.youtube.com/watch?v=AeRd0EJbkC0
On a personal level, my belief system is that a livelihood must be earned by value adding work not by speculation. So I avoid all forms of speculation. Preserving savings in tangible debt free assets (real estate, small businesses such as farmland, brewery, etc.) or in real money stored outside the banking system and preferably outside the Empire and its vassals to avoid another Executive Order 6102. Doable but not easy.