” The Office of Poofness “
POOF SAID
Greetings and Salutations,
The news is that all bets are off. Nothing is at its beckoning, no lines of communication are clear and no one wants to bet on who will ultimately call in the plays. Bankers are hiding out or at least hiding OUT, staying away from any spotlight. The mass of underlings that do the leg work are all unsure what is happening nor why the lockdowns are happening on things that were settled months ago. . We will say that few errands or caucuses have been going on, little time is being shuffled here, because this is not a major player in their minds and has never meant to be paid out from the beginning. It will be; but not yet. There are layers of c--------n to dig through, people who sat on matters for no reason, we are at least happy to report that all means and layers of reporting have fallen off the cliff. All safe to say the funds are yet safe, so see it for what it is.
Love and Kisses,
Poof
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DID YOU KNOW?
Chronology of Banking
For the skeptics regarding the eventual implementation of the GCR, we first have to look at the evolution of the banking system. As the world became more global, it was an obvious necessity that banking would have to evolve to accommodate global transactions. The GCR is merely a component of the next logical phase of this evolution.
Chronology of Central Banking: Evolution and Key Milestones
1609 – 1694: Early Central Banking Foundations
The first recognized central bank, the Bank of Amsterdam (1609), introduced key concepts of modern banking, including deposit accounts and transferability. The Bank of England (1694) was then established to finance war debts, setting the precedent for state-controlled monetary policy.
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1791 – 1913: Rise of National Banking Systems
The First Bank of the United States (1791) and the Second Bank of the United States (1816) laid the groundwork for central banking in America but faced opposition from those who feared centralized financial power. After their demise, the National Banking Act of 1863 established a system of nationally chartered banks, though the absence of a true central authority led to financial instability.
1910: The Jekyll Island Meeting
In response to frequent financial panics, powerful bankers and politicians secretly convened on Jekyll Island, Georgia, to draft the blueprint for a new central bank. This led to the establishment of the Federal Reserve System in 1913, creating a lender of last resort and formalizing U.S. monetary policy.
1929 – 1932: The Great Depression and the Banking Crash
The stock market crash of 1929 triggered a series of bank failures, culminating in the 1932 banking crash. In 1933, the U.S. government introduced the Glass-Steagall Act, separating commercial and investment banking and establishing the Federal Deposit Insurance Corporation (FDIC) to restore public confidence.
1944: The Bretton Woods Agreement
This agreement pegged global currencies to the U.S. dollar, which was convertible to gold, establishing the dollar as the world’s reserve currency. The International Monetary Fund (IMF) and the World Bank were also created to stabilize economies and promote international trade.
1971: The End of the Gold Standard
President Richard Nixon’s decision to abandon the gold standard in 1971 led to a fully fiat currency system. Central banks gained greater control over monetary policy but also increased the risk of inflation and currency devaluation.
2008: Global Financial Crisis
The subprime mortgage crisis resulted in widespread bank failures, leading to government bailouts and the implementation of stricter regulations, including the Dodd-Frank Act. Central banks, particularly the Federal Reserve, used quantitative easing to stabilize economies. ( The primary objectives of quantitative easing are to boost economic activity and prevent deflation by providing liquidity to the financial system. By purchasing these assets, central banks inject money into the economy, aiming to increase spending by businesses and consumers)
Islamic Banking vs. Central Banking
Islamic banking operates under Sharia law, prohibiting interest (riba) and speculative financial instruments. Instead, it employs profit-sharing models such as Mudarabah and Musharakah. In contrast, central banking relies on interest rates and monetary policy tools to regulate economies, often leading to debt-based financial structures.
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Decentralization and Digital Banking ( Ushers in the need for a GCR)
The next logical phase in banking evolution is decentralization through blockchain technology and central bank digital currencies (CBDCs). Cryptocurrencies challenge traditional banking structures by offering borderless and decentralized financial transactions, while CBDCs provide governments with more control over monetary policy in a digital age. As artificial intelligence and automation continue to advance, the future of banking may shift toward fully digital, algorithm-driven financial systems.
Bottom line “some times you have to trim the limbs for the tree to grow”
DJ
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Love and Kisses,
Team “Poofness”
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