Tin Foil Hats, Economic Reality and the Total Perspective Vortex

rblong2us

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might be a good time to borrow loads ( but I see the banks are making it hard to borrow right now ) and watch it all burn in the re-set ......
 

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China not just beating the drum, but pounding on it now. I have to wonder if the timing with the pending realization of China's CBDC is coincidental.

China’s top banking watchdog cautioned that U.S. dollar dominance combined with the massive stimulus unleashed by the Federal Reserve could push the world to the edge of another financial crisis.

In a rare act of public criticism, China Banking Regulatory Commission Chairman Guo Shuqing also lashed out at developed nations seeking to divert blame from their own failures to contain the virus outbreak and moves by the U.S. to blacklist Chinese companies and entities.

“In an international monetary system dominated by the U.S. dollar, the unprecedented, unlimited quantitative easing policy of the U.S. actually consumes the creditworthiness of the dollar and erodes the foundation of global financial stability,” Guo wrote in an article published in the Communist Party’s Qiushi magazine on Sunday. “The world may once again be pushed to the verge of a global financial crisis.”
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China’s Ministry of Commerce is moving forward with its plan for a digital currency, according to a report by The Wall Street Journal (WSJ).

The plan will come with a large number of cities in which to test the currency, including Beijing and the provinces Tianjin and Hebei in the north, the Yangtze River Delta to the south, and the Guangdong province and the neighboring cities of Hong Kong and Macau along the country’s prosperous southern coast, WSJ reported.

The project’s policy design is set to be complete by the end of the year, although there’s no set date for when the expansion will begin.
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According to my analysis the world is heading towards a new monetary system that incorporates gold, although I do not know how that system will be structured. To get a better perspective I decided to interview Pentti Pikkarainen, former Head of Banking Operations at the central bank of Finland, member of the Voima Gold Advisory Board, and Professor of Practice at the University of Oulu in Finland. Pikkarainen thinks we are moving towards a multi-reserve currency system. My interpretation of Pikkarainen's view is that the dollar will lose its primacy status, and gold, the dollar, euro, yen, pound, renminbi, etc., will be competing each other.
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rblong2us

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Yeah I saw that.
Theres quite a lot of speculation regarding' resets' and blockchains for everything.

This came across my screen a couple of days ago -


'Quantum Financial System (QFS) is building a Virtual Private Network (VPN) for the Cross-Border Interbank Payment System (CIPS). It's a network based on Sovereignty and Commerce. '

Possibly just speculation but I was amused with the closing image that said

'Trust in the Plan .....Q' Curiously this closer has now gone from the video (-;
 

pmbug

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It's interesting, but I'd like to see some corroboration of the info in that video. The video is a Powerpoint slideshow set to music and made/posted by "lambwins" who has a limited and narrowly focused selection of videos in his/her library. A quick internet search of "Quantum Financial System" didn't yield much that I would consider a solid reference/citation.
 

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August 13, 2020

Boston – The Federal Reserve Bank of Boston today announced a multiyear collaboration with the Digital Currency Initiative at the Massachusetts Institute of Technology to perform technical research related to a central bank digital currency. The research project will explore the use of existing and new technologies to build and test a hypothetical digital currency platform.
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The Boston Fed and MIT have structured the research collaboration into work phases that extend over two to three years. The first phase will involve jointly building and testing a hypothetical central bank digital currency for wide-scale, general purpose use. The objective in this phase will be to determine how to architect a scalable, accessible cryptographic platform to meet the needs of a theoretical U.S. dollar CBDC, including stringent design requirements for speed, security, privacy and resiliency.

In later phases, researchers will assess technology trade-offs by coding and testing various architectures, to see how they impact the CBDC’s design goals. The research results will be published jointly with MIT, and the code would be licensed as open-source software, so anyone can use or continue experimenting with it.

In parallel to the work with researchers at MIT, the Boston Fed will independently evaluate other systems to understand their potential pros and cons in supporting a central bank digital currency. Before any CBDC could be issued, a separate, extensive policy process would be required.
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In Berlin, where last week saw a two-day meeting of financial officials from Europe, central bankers discussed digital payments and the confines of digital, national currencies.

At a high level, officials said that the European Central Bank should be the only one that should issue digital currencies.
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Bundesbank President Jens Weidmann said at the gathering that cash will still have a place in the world.

“Many people value cash very highly, and for legitimate reasons. It provides privacy, and its use does not necessarily depend on technical infrastructure,” he said. At the same event, ECB President Christine Lagarde took note that there has been no decision yet to create a digital euro, though a task force’s findings are due to be presented within the next few weeks. ...
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... 80 percent of 66 central banks queried by the Bank of International Settlements (BIS) said they were working on CBDCs ...
 
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