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Entry Submitted by TIGER at 9:02 AM ET on August 25, 2022
- The new financial system is part of GESARA law. The IMF will announce the “global gold-standard monetary system” once GESARA is announced. All remaining fiat currencies will be cashed in for gold-standard currency. Paper money will eventually be phased out and all currencies will be digital under the new financial system.
If the new currency represents gold then it should be freely exchangeable for gold or silver coins, to demonstrate this relationship continuously, otherwise we have only the word of the Government that this is so and you have already seen what that is worth. This was the same relationship that Silver Certificates (a term once printed on dollar bills) had to silver dollars. But what’s more, if it is exchangeable at no cost for gold and silver coins, those coins must also be spendable, to continuously demonstrate their worth (as otherwise their gold or silver content could diminish). These coins must exist, be spendable, and be testable at coin dealers.
There is also a problem with digital currencies because they exist in an environment subject to hacking, government control, and currency expansion without sufficient visibility by the populace to prevent theft of the currency by degrees through creation of unrepresented currency. It is not satisfactory to say this problem is resolved by computers or open source accounting. Computers can be hacked and mounds of code can exist providing “back doors” to thieves, with a major suspect being the government itself. And here we must also mention, if the government has a role in digital currency, it can use this role to control the populace for political gain.
Even when digital currency is just plain stolen (not created out of thin air) there is not sufficient recourse to recover it, as the proof is erased. Saying that, well, “we will keep a million records of this on a million computers so changing the balances is impractical” does not work for two reasons. One reason is a bogus transaction can be made which is then recorded on the other computers. This cannot be remedied by reversion because with lightning speed that theft can be spent in a high number of transactions which are then spent in a high number of transactions, so it would be impractical to keep a universal history backup that can retrieve thefts. But another reason why keeping many, many open source records is impractical is, thieves will see who has money. Those who have money will be subject to kidnapping or forced disclosure of passwords.
One must say it is rather disappointing to see so many references to the “Quantum Computer” as if a computer can be a solution, since computers are invented and programmed by people. There is a similarity to the film “The Day The Earth Stood Still” in which Klatu (Michael Rennie) explained his planetary federation had given police control to a race of robots, because they could not trust people. Since people programmed the robots, this “solution” did not and still does not hold up to logic. If people are untrustworthy then programming by people is untrustworthy.
Mike Maloney (at GoldSilver.com) has a series of videos called Hidden Secrets Of Money that is tremendously educational and is free. In this he describes the difference between currency (which represents money) and money (which has specific, concrete value). After watching his videos, one cannot but conclude that you cannot have currency without money, and there must be a direct, visible, and demonstrable relationship.
As a consequence, I am convinced that the statement “all currencies will be digital” is not a good way of expressing things unless we want to plan on a weak system that is vulnerable to c********n and crime.
TIGER
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