The Year Ahead - Part 1: Currency
I don't need to tell you that we are living through world-historical times right now. The frequency of world-changing events is accelerating even as the impact of these events on our day-to-day lives is increasing.
As Lenin rightly observed: "There are decades where nothing happens; and there are weeks where decades happen." Perhaps there are years in which centuries happen.
With that in mind, I am taking my annual look at the year ahead and splitting it into three parts.
In this first installment, I will look at the tectonic shifts that are taking place in the global monetary space and consider what these changes portend for the future of the world economy.
Next week, I will examine the ongoing (generated) COVID crisis and what we can expect as the Era of Biosecurity continues to unfold.
Finally, I will turn my attention to world geopolitics, analyzing the types of conflicts that we can expect to see over the course of this year and explaining how these conflicts will set the stage for even more dramatic events over the course of the decade.
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From James Corbett’s 1/11/2021 article The Year Ahead – Part 1: Currency…
…The answer, as always, lies not in how we can engineer a better system of centralized control.
The answer lies in decentralizing to a point where the centralized system is ridiculous and redundant, like daily newspaper delivery in the age of the internet.
So how do we go about doing this? Well, given that 2021 is the year of the People’s Reset, this is precisely the subject I’m going to be examining in a series of reports in the near future.
The short-term answer will involve setting up emergency community trading mechanisms that will be able to keep us alive in our local area as we begin the plunge into the profound economic dislocation that will be starting this year.
The longer term strategy will involve truly understanding the most fundamental question of all: What is money?….
To follow on from the recommendation from James, anthropologist David Graeber explores the ways debt has shaped society over 5,000 years in this BBC radio documentary.
https://www.bbc.co.uk/programmes/b054zdp6/episodes/player
Highly recommended companion to the book.
And for balance “David Graeber’s book is the worst I’ve ever read”
Page 11
https://www.calderwoodcapital.com/wp-content/uploads/2019/11/Popular_Delusions_final_29oct.pdf
I didn’t read David’s book. Article you linked points to inexcusable errors. The book most probably omits Caral civilization , an old civilization that looks to be peaceful and doesn’t fit to the narrative.
https://en.wikipedia.org/wiki/Caral#Peaceful_society
But I think author of the article wasn’t completely honest. I think he bashed hard David also because of his anti-capitalist attitude.
Would tend to agree with you.
Nice one… Set up Credit Unions and encourage people to anticipate food shortages and grow food… How does the Monty Python skit put it? ” You should bow down to me – I am your king !”. “We are a democratic shit-shovelling co-op and we don’t need your sort. So bugger off !”
One reason for this end of the currencies, is the coming “Energy cliff”. It will make it important to be able to live outside the collapsing system.
Go back to Plato’s description of the nature of money.
Read Stephen Zarlenga’s book “The Lost Science of Money”..please.
monetary.org has had a bill for years that would have fixed the US monetary system. I think it could and should have been made simpler even, but it is/was a real solution.
For 20 years I have heard researchers of money, completely misunderstand the nature of money, and ignore the real history of money…before all the money masters manipulations.
Fiat, paper, from thin air, central banks, gold standard, centralized vs decentralized,….all misunderstood, IMHO
Real organic sovereign money is so simple a thing that it confounds nearly everyone today.
Aristotle also had a good understanding of the nature of money; and he knew the proper meaning of fiat.
Fiat is a good thing. Gold standard and the monetization of commodities of high intrinsic value is a mistake.
How we define “money” determines how it works and who controls it.
Once you accept JP Morgans definition of money = physical gold and all else is credit, things become clearer.
Currency is popular credit.
USD credit is based on a stick & carrot global management principal.
The leading planetary assassins guilds work for the Banking Cabal.
This Cabal is the keeper of the central credit ledger of final reference. The ledger figures/data are whatever they say they are.
Buy your next car with gold or silver (actual money) to get a sense of physical reality, as opposed to virtual (paper) reality.
You are blowing the coop when you do this. = loose chickens in fast getaway cars.
Let me endorse truthseeker9’s recommendation of “The Lost Science of Money,” which helped me understand how money works. The book is now available for free download on archive.org. The plan was endorsed by, among others, Ron Paul and Dennis Kucinich.
Thanks for that taxpayer. You can see above that people truly do not understand what real money is. GOLD is a commodity that exists in nature, money is a legal abstract creation that should never be based on, recorded on, nor backed by commodities.
From:
https://monetary.org/pdfs/home/32-page-Monetary-Reform-Manual.pdf
“The Aristotelian Concept of Money – a legal fiat Both Locke and Franklin echoed Aristotle’s concept of money as an abstract legal power, a fiat of the law, summed up in Aristotle’s phrase “Money exists not by nature but by law.” (Ethics, 1133) To Aristotle money isn’t a commodity that comes out of a mine or a farm. It comes from “nomos” – the law or binding custom, and the Greek name for money was “nomisma.” Aristotle makes the supreme distinction between money, which is abstract, and wealth, which is tangible. He is the creator of the “science of money.” (Ch.1) The history of ancient systems shows a pattern of Aristotle’s science of money being discovered; used to build the society; corrupted and then lost; and again rediscovered over the centuries.”
Attended my first ever International Freedom Cell Call over Zoom today. Very good timing with Corbett’s newsletter about solutions. Approximately 180 people attended. The need for and the benefit of Freedom Cells and building community was discussed. We broke off into 8-person groups and shared ideas about growing our own food and food security generally. There was a lot of idea sharing and networking. Very good experience.
Can you post links? and best way to join?
Link to Freedom Cells website:
https://freedomcells.org/
Also use Corbett Report search bar to find many past interviews on the Freedom Cells concept.
scpat,
Cool. Thanks for the ANECDOTE – International Freedom Cell Call over Zoom
FreedomCells.Org Discussion on the “Open Thread for January 2021”
https://www.corbettreport.com/new-year-open-thread-2/#comment-101708
Sure. Thank you for the link to the other thread. I actually just requested an invite to the Corbetteers group. See y’all on there!
“International Freedom Cell Call over Zoom today. …We broke off into 8-person groups and shared ideas about growing our own food and food security generally.”
All under the watchful eye of the very Techno-Tyranny all us computer enthusiasts purport to be opposing.
If it’s on the internet, it is fully transparent to the NSA/Unit 8200 superstructure. It’s all monitored in real-time, recorded, analyzed, logged, indexed and archived in a mineable database.
If it’s on the internet, it is just going to TRAIN the very AI that is enslaving us all. It’s just digital grist for the mill.
Everything you say you are going to do on the internet is everything the Machine can get three steps out in front of. You are teaching the Machine everything about you. Your plans. Your fears. Your hopes. Your dreams.
Everything you say (online) CAN and WILL BE USED AGAINST YOU.
Like all technology, it is a double-edged sword.
10 years ago I would have agreed with you.
Now, I clearly see it is only a trap, and it has been sprung.
We are all inside its closed metal jaws, and anything we do in here is necessarily inside it.
So what are you doing in preparation? Anything? What’s your advice? Your same old “we’re screwed, nothing we can do, give up”?
I am doing nothing.
The only escape would be truly radical, and would involve true risk and sacrifice.
Renounce DigiTech altogether. Cold turkey. Divest from all civilization. Shun all telecom devices and network-able electronics.
One would need to “ghost.” Disappear entirely, spending his life scrabbling for sustenance and dodging “law enforcement,” which will become increasingly mechanized and AI-driven. Think the robotic “dog” from Fahrenheit 451, which is fleshed out in predictive-programming fashion in the Black Mirror episode “Metalhead”. There will also be the bio-slave enforcers: modified humans controlled by the Machine’s Deep Mind through their Neuralink brain-chips.
That’s the future for any who wish to retain their humanity and their bodily existence. It will be a Hell on Earth.
It would be a hardscrabble existence of bare, brutal survival, in hopes that the infernal storm of DigiTech passes over the Earth. I’m not prepared to do it, and, frankly, if I were to estimate the odds of mere survival, I would sound a bit like C-3PO. I’m just taking it one day at a time.
And LARP-ing that I’m building an agorist, communal Utopia, when really I’m just putting on a show for my Booz Allen Hamilton handlers, is not my idea of last days well spent.
I think the youtube – best evidence does a good job of making monetary policy simple and showing what is going to happen soon. As for a solution, I think BCH is already there. There are also token systems on EOS that have merit. BTC is already taken over by bankers, LTC is pre-mined google crap and the others are mostly banker options of a different color or too small for current needs. Monero may be good, but needs to become way bigger and is on the hit list by the powers to be. BCH has already become big and is widely accepted.. aka – purse.io at amazon. Not that I recommend Amazon, but it is a start.
With this being said, can you create an overall solution list ? then we can focus it. Because there are a lot of needs out there.. email/food/clothes/discussion platforms..
Thanks for the good stuff James.
Surely ethereum should get a mention? ETH 2.0 will be more decentralised than EOS and privacy projects are emerging, which could do a better job than privacy coins since they are harder to outlaw.
I just think ETH has some serious tech. issues that will take a while to correct. If it works, great. But, from what little I know, it isn’t looking promising.. and with that said.. I didn’t realize Dan L. just left EOS for his own – censor less media -.. ? really.. now what?
Gas fees are a major limitation with ETH. BCH transactions are almost free and very fast. Plus, now there is cash fusion in Electron Cash wallet and soon bitcoin.com wallet that builds in coin mixing for privacy.
given that anyone can buy BTC at anytime and it is completely decentralized, why does it matter if the banks have bought BTC? bitcoin is clearly the answer to all our problems.
It’s not without its giant shortfalls, justins. Many of these have been built in with a purpose.
Thank you James for the article. May I introduce Sheikh Imran Hosein, an eighty year old Islamic scholar who has been teaching the subject of usury or Riba as it is called in Arabic for more than three decades. His expertise is Islamic Eschatology. He studied international Monetary Economics when he was young at the postgraduate level in Geneva and is therefore credible to teach the subject.
This was a recent lecture he delivered at a public gathering in the UK in 2019. I think the Islamic teaching on Riba (usury) may interest both yourself and the Corbett Report community. It may be a long lecture but he is a brilliant speaker. I hope it is relevant and benefits those who want to know the Islamic perspective.
The organisers have titled the lecture The Merchant of Venice.
https://www.youtube.com/watch?v=EuzrM0XGL1c
The answer lies in occupying a jail cell and staying there. Non co-operation. We have the numbers to stop this peacefully but we do not have the courage to give up everything we have for future generations.
Perhaps it would be a good idea to look at the history of what people have actually done to overcome shortages due to some kind of natural or manmade catastrophe.
A few years ago I witnessed how a relatively small group of young anarchists calling themselves Occupy Sandy, coordinated the emergency response of moving food, water, clothing and other necessities from areas in New York City that were not affected by Hurricane Sandy ( October 29, 2012) to areas that were devastated. They set up a website within hours and had organizations and individuals connecting through the website to donate, collect, ferry, and distribute goods and services to hard hit areas. The Red Cross and Fema didn’t arrive on the scene until days later. It was amazing what they accomplished simply by coordinating haves with have nots.
Of course, this was a temporary, local issue, and I am aware that a sudden, widespread catastrophe and sustained breakdown in services would not have such a Kumbaya outcome, but it helps to examine how humans in the past have solved the problems we foresee in a possible, probable, (but never guaranteed) future.
@James, just wanted to say that I’m very happy about the new “SolutionsWatch” videos you’ll be posting. So many people are fixated on the doom and gloom (perhaps including myself) that it’s easy to forget that it’s important to stay on the course of searching for solutions. On that note, I love your videos and connecting to a face and voice, but I wanted to also say that I love reading text as it’s easier for me to scan for the information I’m looking for so I encourage you to continue to do both.
Also, I haven’t read this article yet, and I will in the next hour, but I wanted to again put the idea out there that we’ll likely have to transact our lives in a dual currency format…one in a local currency for trade with like-minded agorists, and in the national currency in order to stay current with our property taxes (even if we’re “off the grid” and no longer paying for utilities such as gas, water, electricity, and internet), so I think people should start thinking about how they can make a living under both formats, and if you can do that, you’ll likely be more financially successful.
You’ll have to have someone making money to transact with the slave system for a while till the new one(s) are up and running in my opinion.
I’m building a house that has on the grid capability but also going to have solar (will be expensive) and once that’s up will use the solar. I’ll have a well too. I imagine I would have to have money to pay property tax through even though this is indeed theft it’s not the hill I’m ready to die on.
I will be keeping my job, for now, to pay for this property development.
I’m also going to dig 2 wells for water (one for home use and the second as a backup and to water vegetations), but electricity will have to come from the utilities as the Southeast US is unfortunately too overcast for reliable solar power.
If anyone still hasn’t seen it check out Bill Stills’ documentary called “The Money Masters”. It takes you through a long and VERY interesting history of money and banking / the battle between the people and central banks. James takes a look at this doc in Episode 005 of Corbett Report.
Solutions to the Illusion of Money – Mark Passio – What on Earth is Happening #98
https://www.youtube.com/watch?v=KH4m7OpukSg
The following video should go on this THREAD about CURRENCY…
Jerry Day Create your own currency
https://www.corbettreport.com/introducing-solutionswatch/#comment-101986
Jerry Day gets into the very important subject of currency. This topic ties in with LEGAL self issued credit which can be used with trusted associates. It is a pretty good presentation.
“Press For Truth” Dan Dicks interviews Derrick Broze
Monday – January 11th
Announcing “THE GREATER RESET” Join Us January 25th-29th 2021!!!
(19 minutes)
https://www.bitchute.com/video/Fd9YDpBXfBwj/
This was a nice conversation and touched on many topics.
Ron Paul recently interviewed that well known business journalist Daniela Cambone, who once was on Kitco News.
Are Gold & Crypto Going To Have a Big Year? — With Daniela Cambone
(23 minutes)
https://youtu.be/2wHJ5NYQqvg
DESCRIPTION
Stansberry Research journalist, Daniela Cambone, joins the Liberty Report to discuss crypto, gold, silver and other metals.
With the Fed feverishly counterfeiting dollars, are we headed for a big year for these assets?
Daniela Cambone had this exclusive interview recently, where Max first gave his 2021 price forecast for gold, silver and bitcoin.
Max Keiser Reveals Bitcoin Price Forecast for 2021, After Nailing 2020 Call
https://www.corbettreport.com/new-year-open-thread-2/#comment-102163
Here is a new system for private, digital currency that is the ultimate in open source, scalable, decentralized money.
The intro is a quick 3 minute read:
http://gotchoices.org/mychips/intro.html
Kyle,
Thanks for that link. I’d heard of MyCHIPs but hadn’t invstigated. (I still haven’t read this entire site.) Can you answer a question?
Who does the issuing, or how is it issued? And/or, what’s the basis of issue?
I found two quotes that seem related but don’t answer my question.
“So why don’t we see private credit used more widely today as a form of money? Unfortunately, its lack of fungibility has been too great a hurdle. No one has figured out how to transfer private credits from one person to another and still trust the value of what you are getting.”
Question: how does one trust the value of someone else’s private issue?
This next quote seems almost to address my above question, but actually it seems instead to beg the same question:
“The value of a quantity of CHIPs is not a function of speculation or foreknowledge. It is simply the worth of the promise that backs it. So trades occur not as a proxy for value, but truly as one value, exchanged for another.”
Thank you!
If the new digital currency is backed by fiat (or a combination of multiple fiats) then it’s no different to Paypal and such.
What I suspect is the new currency will be based on people’s (former) properties. Remember “You’ll own nothing and you’ll be happy”? Like that.
This is crazy enough to work great… for them. Everything you own, or what you thought you owned, is converted into I-don’t-want-to-be-a-social-pariah Coin. IDWSPC!
4 bedroom condo on Manhattan is going to set you forward with enough IDWSPC to last you a month. Ish. And you have to move. No rush, but you have to go. Now!
I’ve been watching Mike Maloney’s excellent series on the History of Money:
https://goldsilver.com/hidden-secrets/
All in all 10 episodes laid out over several years, but it’s an easy-to-follow and enjoyable show with lots to take notes on. I think it ties in very well with the links JC provided in his article.
I agree.
Corbett has mentioned him before. Mike Maloney also has attended Anarchapulco.
Here is one place where Corbett brought up Maloney…
The Bitcoin Psyop
https://www.corbettreport.com/bitcoinpsyop/
(NOTE to new subscribers: Don’t misinterpret the Title of “The Bitcoin Psyop”.)
First post! It is a pleasure joining the community and a honor helping such a worthy cause.
Thank you Mr. Corbett!!!
Great to have ya on the comment boards Rebel! All of us enjoy having new people participate in the conversations.
I have a off topic question for a newb… is there a off topic section for asking questions?
Ideally, if it is a Question for Corbett (QFC), then it is best that you ask it on the THREAD (comment section) of his latest QFC. He is more likely to spot it there and make a mental note.
https://www.corbettreport.com/?s=QFC
The SEARCH BAR at the top right of the webpage is your friend for finding topics.
It becomes the wild west with “off topic” discussions around here on just about any Thread of any episode or article.
Ideally, the “OPEN THREADS” which Corbett sometimes places in lieu of a weekly article is a good place for an open question to the community at large.
However, there ain’t no sheriff to it…so, if you have a question “at large” or to Corbett, you could just post it as a separate comment anywhere you deem fit. Members are pretty good at giving their thoughts on an “Open Question”.
In summary, you are free to communicate whatever is on your mind, and you can post it anywhere.
~~ Don’t post email addresses.
~~ If you post a link, please describe it well for other members.
~~ Keep your word count down to around under 450 per comment, but you can extend your thoughts by replying to your previous comment.
~~ Good manners go a long ways.
BOOK
“Rigged: Exposing the Largest Financial Fraud in History” by Stuart Englert. The book breaks down precious metals price manipulation, including how it began and the ways it happens.
Interview filmed January 12, 2021 – “Investing News”
Stuart Englert:
Why Precious Metals Price Rigging Happens, How it Could End
(24 minutes)
https://youtu.be/EovbDaidy-Y
The author’s email is in the show notes of the video.
RELATED
(NOTE: At least view the final paragraphs of the transcript about “THE OTHERS”.)
Central Banks, BIS, “The Elite Others”, – Gold and Silver
Andy Schectman, President of Miles Franklin is interviewed by Charlotte Macleod with the Investing News Network. Unlike traditional coin dealers, Miles Franklin is both a full service company and a low overhead discount broker; one of only 27 U.S. Mint authorized resellers.
Jan 19, 2021 Andy Schectman: Gold’s “Great Awakening” Bringing in New Buyers
(38 minutes)
https://youtu.be/lw21PLPnewk
Around the 8:38 mark, Andy talks about the U.S. Mint running out of Gold Eagles in January of 2021 which is unprecedented for the beginning of a new year. He then goes into the supply chain for silver and gold.
COMEX is the primary futures and options market for trading metals such as gold, silver, copper, and aluminum.
https://www.investopedia.com/terms/c/comex.asp
At the 10:15 minute mark, Schectman says: TRANSCRIPT FOLLOWS (minor edits)
…I think 2020 was very eye-opening to me on one particular level — has to do with what happened on the COMEX market and I think your listeners should understand that.
But I want to explain a trend that I’ve been seeing since 2017 and it’s a trend that I think explains where we’re headed with gold…
…In 2017, out of nowhere, first of all was the worst year to own a precious metals company, bitcoin was going to the moon, and at the time six out of every 10 phone calls we had were people selling. The Central Banks were net sellers of gold. Gold was dead. No one wanted it in 2017.
And then out of nowhere the German Bundesbank (Deutsche Bundesbank is the Central Bank of Germany) comes out and says we want our gold sent back to us. And it was very unusual to see that they said we want it back by 2020. Shortly thereafter we saw the Bank of Austria, the Bank of Hungary, the Bank of Poland, the Dutch National Bank, Bank of Turkey, and on and on and on, a continuing exodus of gold being requested back from the New York Federal Reserve, in the Bank of England, ALL earmarked by 2020. It was kind of interesting.
In 2018, the next year, the Central Banks went from net sellers of gold the year before to accumulating more gold than at any time in the previous 60 years combined, out of nowhere. It was very interesting.
The following year, 2019, that trend exacerbated by 90% – increased by 90%. So the Central Banks are wickedly buying gold and they’re pulling it off of the Bank of England and the New York Fed and bringing it home.
Central theme here that we’ll see in a moment…
(…continuing…)
(…TRANSCRIPT continued…)
…And now they’re buying copious amounts of it after being net sellers for gosh knows how long.
April of 2019, the BIGGEST EVENT of my career happens and that is the (BIS) Bank of International Settlements in Basel, Switzerland. They are the Central Banker of “Central Bank”. They reclassify gold as a Tier One asset from a Tier 3 asset joining U.S. Treasuries as the only real Tier 1 assets that Central Banks use and a Tier 3 asset meant that only 50% was calculated on the balance sheet. That, combined with the fact that there was no interest charged or paid on gold, the fact that the market was unpredictable, and that it cost money to store; Central Bankers never wanted it. In fact, they were always net sellers of it…
…Well out of nowhere, after 80 years of it just being Treasuries that the banks would use or U.S. Dollars, they reclassify gold. Huge, huge event. And the central banks of course front ran that decision by a year and a half, and all asked for it to be sent back. So we see a pattern. Now, its gold is levitated up to the highest form of collateral. It is a riskless asset now. Tier one means riskless. The banks all bring it home. They reclassify it. They buy the heck out of it for a year and a half.
2020, last year, that trend continued: central bankers are buying gold. (13:45 mark)
But here’s where it gets real interesting on the COMEX market.
Normally the COMEX market never delivers gold or silver. It’s a platform to hedge exposure…
(Andy Schectman explains hedging as a way to guarantee a price on gold in the warehouse and avoid risk)
…It is used to hedge risk, and very, very few contracts would ever stand for delivery but on a platform that is the worldwide mechanism for setting price you have to deliver if people ask for it or the platform is rendered a sham. So if you’re gonna set the price and someone says, “Okay, fine. I’ll take it at that price but I want delivery.” Then you have to deliver…
Normally on the (COT) Commitment of Traders report – the report that the Commodity Exchange publishes – there’s two groups of traders. There’s the commercial banks and the speculators, which would be the hedge funds. And they: “one goes one way”, the other goes the opposite. Always if the hedge funds go “long”, the commercials go “short”, and vice versa. And it’s always been a battle commercial banks usually win.
(…TRANSCRIPT continuing…)
(…TRANSCRIPT continued…)
In 2020, we saw the rise of a new group of people listed on the COMEX report called “THE OTHERS”. These people are family offices and sovereign wealth funds and the wealthiest people in the world.
I will submit, though I have no proof of this, but sure as heck seems to me that they know the people, maybe they know the Central Bankers. They know the people accumulating gold and bringing it home, because the central theme this year is: These “OTHERS” pulling more gold off of the COMEX market through deliveries in one month than we ever see in a year!
They pulled almost a decade’s worth of metal off of the exchange this year.
Right now, “THE OTHERS” into the next contract and silver are, last I looked, over ten thousand contracts long at 5,000 ounces a piece, 50 million ounces of silver.
These people aren’t playing around.
They’re the wealthiest, most sophisticated, well-funded, well-informed traders that are standing up to the commercial banks.
A central theme of acquisition of gold and silver at any price and pulling it off of the exchanges, taking possession, removing counterparty risk.
I believe these people are doing this ahead of what’s coming next. These people know what’s coming next.
Obviously, it’s a digital currency.
And when the digital currency comes, if you want to be outside the system, then you have cryptocurrencies, you have precious metals. Next to that, you’re trapped inside the system that I think is coming. And by the movements of the most sophisticated players on the planet, I think you can see that through it – they’re telegraphing something’s coming…. (17:00 minute mark)
Kitco News confirms strong unusual uptick in demand for PHYSICAL silver & gold
Friday – January 22, 2021
(about 5 minutes)
“Physical gold demand, premiums rise, so why is price not following? Peter Hug”
https://youtu.be/J55HRL9q3T4
For those who don’t know, Kitco has been around for ages. They are one of the top go-to websites in the realm of precious metal news.
PRESS FOR TRUTH – Dan Dicks – January 14th
The “Poor Mans Gold” aka SILVER Is About to Make A LOT OF PEOPLE VERY RICH!!! Check This Out!!!
(11 minutes)
https://www.bitchute.com/video/u3aOfDHyRoVH/
Silver has outperformed all other precious metals in 2020 including gold and if this trend continues 2021 could see some massive gains for the silver sector.
In March of 2020 silver rallied about 100% providing a very bullish outlook and with more fud spreading in the US in the lead up to the presidential inauguration more and more people are beginning to move their assets into silver as a hedge against a potential dollar crash!
In this video Dan Dicks of Press For Truth speaks with Michael Romanik of Silver Dollar Resources about the booming silver market, why the commodity is in such high demand and where he sees it going into 2021 and beyond!
In the Stuart Englert interview (comment above) he mentions the CEO of First Majestic Silver, which is mentioned here.
I think that having physical silver is a great back-up for person-to-person exchange. Unlike gold, it is easier to use small increments for personal exchange.
Hey everyone here is a link to a well-made doco just out re the whole great reset and scamdemic
https://www.youtube.com/watch?app=desktop&v=oliUMa0ke40&feature=youtu.be
World – 11:45 GMT 16.01.2021 – Sputnik International by Sofia Chegodaeva
Baron Benjamin de Rothschild Dies of a Heart Attack
https://sputniknews.com/world/202101161081787753-baron-benjamin-de-rothschild-dies-of-a-heart-attack/
Banker Benjamin de Rothschild was chairman of the Edmond de Rothschild Group.
Baron Benjamin de Rothschild died of a heart attack on Friday, his family confirmed to AFP.
“Ariane de Rothschild and her daughters are extremely sad to announce the death of their husband and father, Benjamin de Rothschild following a heart attack at the family home of Pregny on the afternoon of 15 January, 2021,” the family said in a statement, as quoted by the agency.
Tweet – Baron Benjamin de Rothschild (57), banker and Chairman of the Edmond de Rothschild holding company, has died of a heart attack.
Baron Benjamin de Rothschild was the president of the family-owned Edmond de Rothschild Holding SA, which is headquartered in Geneva and specialises in private banking and asset management. He took charge of the group after the death of his father, Edmond, in 1997. The value of the group’s assets is estimated at almost $200 billion.
A private funeral will be held for the French banker in the coming days, his family said in a statement quoted by AFP.
Hmm dead at 57 from a heart attack and he owned a hospital that specialises in strokes?
Guess I shouldn’t complain, a dead banker is a good banker!
https://www.ft.com/content/efbb44a9-78b7-42a8-904d-a4ed4421c159
(Paywall seems to let you in if you follow the link from a google search)
“Cynthia Tobiano, deputy chief executive, said Edmond de Rothschild’s business would not be affected by Benjamin’s sudden death.
…
Ms Tobiano added: “Covid is a catalyst to go even further and faster on digitalisation when you can’t meet clients face to face.”
…
 Last year Sergei Bogdanchikov, former head of Russia’s Rosneft, accused Edmond de Rothschild of engaging in a kickback scheme that pilfered millions of dollars from his investment fund and ultimately cost him more than $100m”
OILPRICE.COM – January 18th, 2021 – Central Banks & ESG
Why The Green Bond Market Is So Popular In 2021
by Irina Slav
https://oilprice.com/Energy/Energy-General/Why-The-Green-Bond-Market-Is-So-Popular-In-2021.html
ARTICLE
Green bond issuance last year hit a record—the pandemic couldn’t stop the surge in investor appetite for anything related to renewable energy and environmental responsibility. This year, this new market is set for even stronger growth as energy sustainability becomes the theme of the decade. Last year, total sustainable debt hit a record high of $732.1 billion, BloombergNEF reported earlier this month. This was up by 29 percent on the year despite the pandemic or maybe because of it: the pandemic proved an opportunity for some governments to reinforce and strengthen their commitments to their green agenda.
Take the European Union, for example. The EU already had ambitious green energy goals before the pandemic ravaged its economy. But instead of worrying how it would juggle these goals with the billions of euros in relief and recovery programs it needed, the EU is tying the two together. Member states will only receive relief funds if they pledge to invest a substantial portion of it in green technology.
In fact, earlier this month, the ECB went even further. The eurozone’s central bank was, at the start of this year, allowed by Brussels to buy ESG bonds in its asset purchase offensive aimed at propping up the zone’s ailing economy. This makes it the first central bank in the world to add ESG bonds to the range of assets eligible for purchase as part of quantitative easing efforts.
What are these ESG bonds, then? Environmental, social, and governance debt issued by companies could either be used to address social issues (social bonds), environmental issues (green bonds), or be used to target both social and environmental problems (sustainable bonds). Sustainable bond issuance last year shot up by 81 percent compared to 2019, according to BloombergNEF, eclipsed only by social bonds.
According to Reuters data, the issuance of bonds to fund sustainable projects rose twofold last year, to a record high of $544.3 billion. Together with loans for sustainable projects, the amount lent for sustainable projects hit $750 billion, the news agency reported last week, citing data from its service Refinitiv.
There seems to be little doubt that the market for green debt is thriving. There is also little doubt as to the drivers behind this thriving. The EU is one example, but it is not the only one. U.S. president-elect Joe Biden’s pandemic recovery plan, worth $1.9 trillion, also ties the distribution of funds to renewable energy targets. Even the IMF’s chief recently named green projects crucial for the world’s recovery from the pandemic.
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No wonder then that analysts expect the boom in green bond issuance to continue this year: Swedish bank SEB told the Financial Times it expected green bond issuance to hit $500 billion this year. That would compare to an estimated $270 billion in sales of green bonds last year. The EU alone will issue more than $270 billion in green bonds this year, the FT notes, as part of the loan part of its pandemic relief program, which is worth over $905 billion.
Given this growing interest in the green transition – growing so strongly that even Wall Street banks are now jumping on the green bandwagon – chances are we are about to see a true boom in green and sustainable bonds. But since this is not a perfect world, there are challenges.
The biggest of these were laid out back in 2018 by the World Bank’s Director of Economic Policy and Poverty Reduction programs for Africa, Marcelo Giugale. Green bonds, Giugale noted, are not exactly cheaper than “normal” bonds. But they are fungible. That is, they could be used for a purpose different from the one stated as the purpose of their issuance. It is the latter that today seems to be of particular concern: the EU is now on a quest to regulate the nascent green debt market in order to make sure the money raised for sustainable projects is indeed used for sustainable projects.
“It is hard to overstate the impact that the regulations will have,” Thomas Tayler, senior manager at Aviva Investors’ Sustainable Finance Centre for Excellence, told the FT’s Siobhan Riding earlier this month. “It is going to change the way people run their businesses by putting sustainability right at the heart of the investment process.”
In other words, the regulation push will aim to make sure the money poured into green investments is indeed used for these investments. This will mean asset managers offering sustainable funds to investors will need to verify these funds are indeed sustainable, making a market that has been quite opaque so far rather more transparent. Regulation should also take care of concerns regarding “greenwashing” by companies without actual plans to become more sustainable but eager to improve their reputation.
The green debt market seems set to really flourish this year thanks to the rush to decarbonize economies and businesses. And maybe the best part in this rush is that now even big polluters can use green bonds to reduce their emissions: there is now a new type of green bonds that include a specific commitment by the issuer to reduce its greenhouse gas emissions by a set amount by a certain date. This sort of commitment would likely make polluting issuers more credible in the eyes of bond buyers, expanding the green bond market further.
By Irina Slav for Oilprice.com
There is no doubt that ESG will be the big trend.
Carbon lovers are the new enemy. “Think of society” will be a new Orwellian mindset.
In this 5 minute video ad by Samsung, they really hit the PR “green” marketing hype. (But they omit any mention of better surveillance mechanisms.)
Samsung Eco-packaging Design
https://youtu.be/Dotgnw1JxG8
Bitcoin is the answer.
Regarding currencies and alternatives to fiat currency (e.g. local currencies and local exchanges), I implore people to read Thomas H. Greco, Jr, an American who has been writing and speaking and consulting about this for more than 30 years. (Catherine Austin Fitts purchased a box of one of his earlier titles.)
His most recent book is titled The End of Money and the Future of Civilization.
This is a concise, 15 minute video excerpt (from “Disruptive Technologies Making Money Obsolete”):
https://youtu.be/Ip2x6IfX-sE
And there’s a wealth of writings at his site, http://www.beyondmoney.net
Here’s a few links and excerpts to get people started:
https://beyondmoney.net/the-end-of-money-take-power-back-from-the-money-and-banking-monopoly/
“The primary objective of an exchange alternative should be to utilize the credit of local producers to mediate the exchange of goods and services locally. The bottom line is that non-bank exchange system credits and community currencies must be issued in ways that monetize the value inherent in goods and services being exchanged. This means they must be “spent” into circulation, not “sold” into circulation. With regard to the various alternative exchange systems and community currencies that have been tried so far, almost all have been designed to solve secondary problems, or have been lacking in scalability.
Reciprocal exchange and finance are necessary aspects of any developed economy. As I explained above, money today is nothing but credit. It is our common or collective credit that supports any generally used payment medium, including political money. We have allowed the “credit commons” to be privatized. What I advocate is the reclamation of the credit commons from the money and banking monopoly. We have seen how that can be, and is being done within cashless trading systems like LETS and the commercial “barter” exchanges that provide credit clearing services. Of the existing examples, the Swiss WIR cooperative trading circle (now called the WIR Bank) has been the most impressive for its longstanding success. Since 1934, WIR has been providing its members with a way to use their sales to pay for their purchases without the use of official money. Recent figures show a membership of more than 60,000 and annual transactions of more than $1.3 billion.
Such systems involve the allocation of credit, but they do not require the use of money as we have known it. The collective credit balances in the accounts of these systems can be thought of as a kind of internal currency, however, it is one that is not “loaned” into existence; it comes into being in the course of trade among the members. If properly organized, it provides credit on a more honest, transparent, and democratic basis—and without a usurious penalty.”
https://beyondmoney.net/monographs/local-currencies-what-works-what-doesnt/
“Selling a currency for cash, as CLCs [Convertible Local Currencies] do, does not create any additional liquidity (payment media) for the community, it merely exchanges official money for a voucher currency that has limited usefulness. It amounts to a prepayment for the goods and services offered by whichever local merchants agree to accept it.
[SNIP – Please keep comments to 500 words or less. Longer comments can be split into multiple posts. -JC]
https://beyondmoney.net/monographs/local-currencies-what-works-what-doesnt/
“Selling a currency for cash, as CLCs [Convertible Local Currencies] do, does not create any additional liquidity (payment media) for the community, it merely exchanges official money for a voucher currency that has limited usefulness. It amounts to a prepayment for the goods and services offered by whichever local merchants agree to accept it.
If you think a bit about it, it becomes evident that such currencies that are sold into circulation bear a strong resemblance to the gift certificates or gift cards that are sold by myriad retail companies all over the world—companies like Target, J. C. Penney, Marks and Spencer, T.J. Maxx, and Amazon.com, just to name a few. However in those cases, redemption back into official currency is not allowed. Those gift cards are redeemable only for the goods and services that the issuing company offers for sale. Why, then, is it considered necessary for community currencies to be redeemable back into cash? Doesn’t that defeat their intended purpose of keeping money circulating locally? How many transactions will a local currency enable before a holder will cash it in?
The CLC model leaves the control of credit and the creation of exchange media in the hands of the banking establishment and leaves communities to flounder in the sea of globalized and corporatized rent-seeking and power concentration. In their weakened and subservient condition, communities are poorly situated to influence government policies or to challenge established institutions, as the authors of that study suggest. Consequently, individuals and communities must first find ways of empowering themselves. The best way of achieving that is by decentralizing and democratizing the control of credit and using it as a basis for creating independent exchange mechanisms.
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A Better Currency Model
A currency to be sound, credible, effective and scalable does not need to be redeemable for conventional money, the issuer needs only to provide credible assurance that it can be readily redeemed for some goods or services that are in general demand. Private or community currencies that are SPENT into circulation by trusted issuers, like utility companies, goods producers, or municipal governments, have much greater potential for promoting local community prosperity, resilience, and self-determination because they allow a community to monetize the value that is created and sold by local businesses and professionals. The internal “trade credits” provided to members of mutual credit clearing associations, like the scores of commercial “barter” exchanges that operate around the world, do the same. Such home-grown sources of liquidity enable a community to greatly reduce its dependence upon official money and bank borrowing, and automatically favor local production and local sourcing of goods and services (import substitution).
…
A currency that is created locally, that must also be redeemed for local goods and services will automatically circulate locally. Here the word “create” does not mean exchanging pounds, dollars or some other official currency for a local currency, but issuing local currency on the basis of goods and services that are produced and sold within the community. This is the process called “monetization” of value. Such currencies originate and end up in the community. Even if they should temporarily leave the community, they must ultimately return if the holder wishes to get the value that the currencies promise, which must come from the original local issuer.
Recognizing that the conventional exchange medium (money) is created by banks when they make loans, it becomes apparent that money is but a virtual representation of the value which the “borrower’ has pledged in support of his “loan,” be that business assets like goods inventories, or collateral assets, like real estate.[iii] But economic power is ultimately in the hands of producers who create real value and put it on the market, so what is there to stop producers from creating exchange media (credits and currencies) directly, without involving banks or paying interest? Call them vouchers, credits, certificates or coupons, sound private and community currencies can be SPENT (issued) into circulation by a trusted producer or reseller who is ready, willing and able to accept it back (redeem it) as payment for real value, i.e., the desired goods or services that are their normal stock in trade. This is not a complicated process. The animated video, The Essence of Money,[iv] provides a clear example of how it works.”
https://beyondmoney.net/monographs/reclaiming-the-credit-commons/
“In brief, any group of people can organize to allocate their own collective credit amongst themselves, interest-free. This is merely an extension of the common business practice of selling on open account—“I’ll ship you the goods now and you can pay me later,” except it is organized, not on a bilateral basis, but within a community of many buyers and sellers. Done on a large enough scale that includes a sufficiently broad range of goods and services, such systems can avoid the dysfunctions inherent in conventional money and banking. They can open the way to more harmonious and mutually beneficial relationships that enable the emergence of true economic democracy.
Mutual Credit Clearing – Cashless Trading
This approach is no pie-in-the-sky pipe dream. It is proven and well established. Known as mutual credit clearing, it is a process that is used by hundreds of thousands of businesses around the world that are members of scores of commercial “barter” exchanges that provide the necessary accounting and other services for cashless trading. In this process, the things you sell pay for the things you buy without using money as an intermediate exchange medium. Instead of chasing dollars, you use what you have to pay for what you need.
Unlike traditional barter, which depends upon a coincidence of wants and needs between two traders who each have something the other wants, mutual credit clearing provides an accounting for trade credits, a sort of internal currency, that allows traders to sell to some members and buy from others. There are reportedly more than 400,000 companies world-wide who, in this way, trade more than $12 billion dollars worth of goods and services annually without the use of any national currency.
Perhaps the best example of a credit clearing exchange that has operated successfully over a long period of time is the WIR.”
https://beyondmoney.net/monographs/commercial-trade-exchanges-their-present-limitations-and-potential-future/
“Thinking Outside the Box
I submit that the most important value proposition that trade exchanges can offer to their members is the cashless clearing of their transactions, that is, the operation of mechanisms that enable the members to use their sales to pay for their purchases. In accounting terms this means the use of their accounts receivable (A/R) to offset their accounts payable (A/P). The market for such clearing services is virtually unlimited and worldwide, but to tap that market it will be necessary for exchange operators to think outside of the conventional “box.” What are the necessary actions required to realize that potential?
The short answer to that is that credit clearing exchanges need to attract a much larger, more diverse membership base…”
Also, scroll down Greco’s “library” to see links to Riegel. It’s worth the dive.
https://beyondmoney.net/library/
“The aim is not to pose a political revolution but to induce a revolution in thinking on money and an evolutionary movement through local non-political action to establish a private enterprise money system independent of the existing political money system.”
-E.C. Riegel
Tuesday – February 2nd
The Editor of OILPRICE.COM is a CONSPIRACY REALIST
Long, long article by James Stafford (Editor of well respected OilPrice.com)
Naked Short Selling:
The Truth Is Much Worse Than You Have Been Told
https://oilprice.com/Energy/Energy-General/Naked-Short-Selling-The-Truth-Is-Much-Worse-Than-You-Have-Been-Told.html
EXCERPTS
There is a massive threat to our capital markets, the free market in general, and fair dealings overall. And no, it’s not China. It’s a homegrown threat that everyone has been afraid to talk about.
Until now.
That fear has now turned into rage.
Hordes of new retail investors are banding together to take on Wall Street. They are not willing to sit back and watch naked short sellers, funded by big banks, manipulate stocks, harm companies, and fleece shareholders.
The battle that launched this week over GameStop between retail investors and Wall Street-backed naked short sellers is the beginning of a war that could change everything.
It’s a global problem, but it poses the greatest threat to Canadian capital markets, where naked short selling—the process of selling shares you don’t own, thereby creating counterfeit or ‘phantom’ shares—survives and remains under the regulatory radar because Broker-Dealers do not have to report failing trades until they exceed 10 days.
This is an egregious act against capital markets, and it’s caused billions of dollars in damage.
Make no mistake about the enormity of this threat: Both foreign and domestic schemers have attacked Canada in an effort to bring down the stock prices of its publicly listed companies.
In Canada alone, hundreds of billions of dollars have been vaporized from pension funds and regular, everyday Canadians because of this, according to Texas-based lawyer James W. Christian.
Christian and his firm Christian Smith & Jewell LLP are heavy hitters in litigation related to stock manipulation and have prosecuted over 20 cases involving naked short selling and spoofing in the last 20 years.
“Hundreds of billions have been stolen from everyday Canadians and Americans and pension funds alike, and this has jeopardized the integrity of Canada’s capital markets and the integral process of capital creation for entrepreneurs and job creation for the economy,” Christian told Oilprice.com.
The Dangerous Naked Short-Selling MO….
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BUMP
BUMP
The Editorial above and this 7 minute video…
Energy Trades That Shook The World
https://youtu.be/lnHkIk238G8
The OILPRICE NEWS video cites some excellent examples of how the oil trading market has been “gamed”.
With the recent ‘WallStreetBets’ meme, this type of reporting is rather profound for a mainstream type news outlet.
RELATED to the OILPRICE.COM EDITORIAL
Bloomberg – Friday February 5th
Ex-Shell Natural Gas Trader Pleads Guilty Over Role in Scheme
https://finance.yahoo.com/news/ex-shell-natural-gas-trader-140000857.html
EXCERPTS
A former Royal Dutch Shell Plc natural gas trader in Houston pleaded guilty to a criminal charge related to his role in an illegal scheme in which he sought to profit by using non-public information obtained from the company.
From roughly 2013 to 2018, Marcus Schultz disclosed the information to other traders and brokers in a conspiracy to profit from fraudulent gas futures trades, the Justice Department said in a federal court filing in Houston. Prosecutors said some of the trading occurred around the U.S. Energy Information Administration’s weekly gas storage report, which can move prices by signaling whether the market is bullish or bearish based on underground inventories.
Shell Energy North America assisted the Justice Department and the Commodity Futures Trading Commission with their investigations into Schultz, the company said in an emailed statement. His attorney declined to comment.
In a related case, former gas trader John Ed James pleaded guilty on Monday to one count of conspiracy to commit commodities fraud and wire fraud, the Justice Department said in a statement. The company he worked for wasn’t identified. The trades James arranged with others generated almost $1 million in illicit proceeds, the Justice Department said. James’s attorney declined to comment.
The scheme involved offsetting trades, which are opposite transactions for an equal number of contracts of the same delivery month, prosecutors said. By offsetting, traders can cancel delivery of the underlying commodity and profit off the difference between the price of the futures contract when the trade was initiated and the price when it was offset. Schultz pleaded guilty in July to conspiracy to commit wire fraud, the Justice Department said in the statement Monday.
In September, the CFTC said it settled charges against Schultz for misappropriating his employer’s confidential information to enter into fictitious trades. The order required Schultz to pay a civil penalty of almost $670,000 and repay about $427,000….
RELATED to the OILPRICE.COM EDITORIAL
SUB-THREAD for Reddit “WallStreetBets” – GameStop Event & SILVER Short Squeeze
https://www.corbettreport.com/thegreatreopening-solutionswatch/#comment-103392
Could they possibly want to use the vaccines as the next rebirth? Just think of it, it won’t be a petro-dollar, it will be the vaccine-dollar or we could just say covid-dollar…
Or maybe simply a “collar”? Fun times.
https://www.themoviedb.org/movie/2125-wedlock