FROM DIRTY CASH TO DIGITAL TRASH

by Joseph Maxwell

Before the coronaviruses’ germs on paper money scared our attention away from the worldwide demonstrations against economic inequality, the move to digital currencies was already in full stride.

With banks such as the Federal Reserve, the People’s Bank of China, and the Bank of Korea quarantining and sterilizing bank notes in order to “save lives,” at first glance it appears sensible, and even essential, to shift away from physical currencies.

On 3 March, when the World Health Organization (WHO) reportedly issued a warning that banknotes may be spreading the coronavirus, our digital fate was all but sealed.

This was, however, before WHO spokeswoman Fadela Chaib retracted the statement. Not surprisingly, the retraction occurred after the mainstream media picked up the story and circumvented the truth.

The truth is that throughout history, the world’s central bankers have used fear-based events, both natural and engineered, to further fleece their countrymen and women.

In the past couple of years, many major central banks have either launched, or are developing, a Central Bank Digital Currency (CBDC). Announced on 23 March, if passed, the House Democrats’ $2.5 trillion coronavirus stimulus bill will establish a digital dollar, which they define as “a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities… [stored in] a digital wallet or account, maintained by a Federal reserve bank.”

Along with the United States, the central banks of South Korea, Canada, Russia, Tunisia, China, Turkey, Saudi Arabia, United Arab Emirates, European Union, Eastern Caribbean States, Curaçao and Sint Maartin, Bahamas, Thailand, Cambodia, Singapore, West African States, Sweden, Switzerland, Venezuela, Uruguay, and the Republic of the Marshall Islands are all, in some way, also exploring the useful elements of a digital currency.

Central bankers might say the reason they want digital currencies is to provide faster, safer, and more convenient capital movement – which they can do. But, the actual reason is they have abused the world’s monetized debt-based monetary systems to the point of no return.

The problem inherent in the monetized debt system is that if the debt is paid off, there will be no circulating medium… which is a debt trap. Long understood by the “high priests of monetary science,” the way to deal with insurmountable quantities of debt is to reduce its value by creating more debt. And, when the inflation becomes unruly, the bankers simply devalue or revalue the currency, depending on their objectives.

History provides examples of this silent monetary warfare on the unknowing savers and laborers. In 1948, the Deutch Mark wiped out much of Germany’s accrued debt, along with its people’s savings. In 1960, it was the French Franc, followed by Brazil’s Cruzeiros in 1967… also robbing their citizens. The Mark and Franc were replaced by the Euro and through the years the Cruzeiros suffered further devaluation, along with a few name changes. The dollar, and American workers/savers, are now on the same path.

Over the past three weeks, the Federal Reserve has pumped over $2 trillion into the system, lowered the interest rate to near zero, and, on 20 March, announced it would be offering $1 trillion per day for loans in the repo market.

On Monday, the Federal Open Market Committee, the “monetary policymaking body” within the Federal Reserve System, opened the floodgates like never before by declaring they would:

  • Purchase “agency commercial mortgage-backed securities in [their] agency mortgage-backed security purchases,”
  • Establish the “Primary Market Corporate Credit Facility (PMCCF) for new bond and loan issuance and the Secondary Market Corporate Credit Facility (SMCCF) to provide liquidity for outstanding corporate bonds,”
  • Establish the “Term Asset-Backed Securities Loan Facility (TALF) to support the flow of credit to consumers and businesses [which] will enable the issuance of asset-backed securities backed by student loans, auto loans, credit card loans, loans guaranteed by the Small Business Administration, and certain other assets,”
  • Facilitate “the flow of credit to municipalities by expanding the Money Market Mutual Fund Liquidity Facility (MMLF) to include a wider range of securities, including municipal variable rate demand notes (VRDNs) and bank certificates of deposit,”
  • Facilitate “the flow of credit to municipalities by expanding the Commercial Paper Funding Facility (CPFF) to include high-quality, tax-exempt commercial paper as eligible securities,”
  • Soon announce “the establishment of a Main Street Business Lending Program to support lending to eligible small-and-medium sized businesses, complementing efforts by the SBA.”

Starting Thursday, 26 March, the Fed will even reduce the reserve requirement of commercial banks to zero. And, not to be left out, the Department of the Treasury will be “using the Exchange Stabilization Fund (ESF), [which] will provide $30 billion in equity for ‘U.S. dollars, foreign currencies, and Special Drawing Rights (SDRs)’.”

The IMF, with their “world currency” SDRs, has 189 member countries and certainly is able to be the world’s digital “lender of last resort.” The SDR was conveniently created just before President Nixon unpegged the dollar from gold in 1971. The apparent reason was to backstop the banks if the economies reacted too violently to the shift from gold to monetized debt. Now comes the move to digital currency.

Anyone doubting the looming monetary regime change should note the IMF’s $1 trillion “bazooka” announced on 16 March, ostensibly to help nations afflicted with the coronavirus… along with the above mentioned SDR ESF “foot in the door.”

If the central bankers install an entirely new paradigm, one that uses SDR-backed CBDCs to fully track earnings, savings, and spending, it will be a banker’s dream… and not just for central bankers. Even commercial banks such as JPMorgan, with their “JPM Coin,” are joining in the fun. What’s more, it will signal the end of the sovereignty of the U.S. dollar and America itself.

In an interview with the Financial Times published 30 June 2019 (five months before the coronavirus first appeared in China), Agustín Carstens, the general manager of the Bank for International Settlements, said, “Global central banks may have to issue their own digital currencies sooner than expected… many central banks are working on it; we are working on it, supporting them… and it might be that it is sooner than we think that there is a market and we need to be able to provide central bank digital currencies.”

According to European Central Bank president Christine Lagarde, digital currencies will have “anti-money laundering and terrorist financing controls [that] would nevertheless run in the background. If a suspicion arose it would be possible to lift the veil of anonymity and investigate.”

So, aside from more power to the powerful, the cash that would have been hidden under a mattress or buried in a backyard instead will be in an e-wallet, and “under the table” will be over, forever. And probably sooner than you think.

22 Comments
  1. taylor.shuler 2 months ago

    Here we are,just like we have been warned.

  2. atlantis 2 months ago

    yes, they are definitely using the Covid-19 virus as an excuse for this money debasement and control, you have to be blind not to see that. yet many are blind

  3. lvblasiotti 2 months ago

    If you don’t follow their rules and refuse to be a slave to the system they can simply cut you off from you DIGITAL CURRENCY so you won’t be able to buy anything to include food.
    Digital Currency is the destruction of your financial freedom and your privacy of which we don’t have much even now. They will be able to track every thing you do…able to create a profile of how you live…where you go…what you eat…etc….worse than what Google does with its search engine. They are in the process of ripping up our Constitution.

  4. leviearl 2 months ago

    Will the digital currency be backed by gold?

  5. TheSceptic 2 months ago

    To TRI staff: is there PDF version of this journal? I can’t find it anywhere.

  6. joseph_1 2 months ago

    So finally the doomsayers like George Orwell, Aldous Huxley, David Icke, Dean Henderson and others who have been warning us or giving us hints about the totalitarian agenda of the elite are all proven right. How will the people who are allowing themselves to be cowed by this Corona virus hoax, just like they prostrated themselves to the mind boggling, physics laws defiant 9/11 story, react to what David Icke calls “ the totalitarian tip toe” ? By fighting over toilet paper at supermarkets. Now big brother will be all over us watching our every move and telling us what we can and what we cannot do. The puppets of the elites, so called presidents and prime Ministers, will duly oblige by playing on people’s fears by telling the sheeple that there are trade offs between liberty and security.
    Welcome to Huxley’s “ Brave New World” and kudos to Gerald Celente and all the freedom loving, dignity preserving people who are not going to take it lying down.

    • lvblasiotti 2 months ago

      I hope so. I hear rumors that the currency will be backed by a number of things to include gold. I hear that you will not be able to trade your dollars for gold as was the case before ’29 but gold will be used to strengthen the currency, i.e., instill confidence in the currency. Who knows?

    • lvblasiotti 2 months ago

      If you don’t follow their rules they will cut you off from the world. Slavelandia will be shored up.
      What will be next…virtual ankle bracelets.

  7. taylor.shuler 2 months ago

    Love you Gerald for being real, being honest and being a true American. You will be able to rest in peace because thats what you stand for. God bless!

  8. Matt M 2 months ago

    Now the only thing missing from the Beast System will be the implantable chip.

  9. oiurzua 2 months ago

    I have read several free and paid reports about cryptos and alt-coins as invesments for the long run (3-10yrs). One of the best reports have been George Gilder´s Moonshoot and Teeka´s 5 coins to millions.
    They analyzed over 100 alt-coins, because, alt-coins are startups in the ecosystem with more potential to grow or die. So the risk/reward ratio to invest in 10-20, expecting just 1-2 to shine is a reasonable black swan strategy, if that 1-2 makes all the profits.
    Then, I analized those 100 alt-coins mentioned, and filter them.
    If someone is interested in more details, about these analysis and what best alt-coins are there, let me know.
    Sincerely
    Octavio

    • lvblasiotti 2 months ago

      Check out Monero, which they say has tight privacy. Who knows….there are thousands of coins/tokens.

  10. Philip Zyrski 2 months ago

    Umm…digital currency? It’s concerning to say the least. Rapid capital flows via efficient transactions along with low overhead for the banks could be a useful option in finance. However, it should only be an option instead of a principal mechanism in terms of financial activities. Governments would now be able to receive the maximum of income tax revenue form all individuals due to the easy access to financial information. Also, could a weaponized digital financial system be used to curb dissent by blocking all digital transactions. Hacking would always be a serious issue. But the worst thing about this is the fact it’s ever so easier for the Fed and other central banks around the world could now print money by only pressing a few computer keys and the traditional currency printers will no longer be required.

  11. Craig Bradley 2 months ago

    WELCOME TO THE ERA OF MODERN MONETARY THEORY

    The just passed $ 2 Trillion Corona Virus Stimulus Act, Phase III by the U.S. Senate heralds-in a new monetary era where we just print to our heart’s delight to fulfill every public need. Problem is there is still no real investment in our aging public infrastructure ( roads, bridges, rails, airports, seaports) but rather, its almost all for public consumption. This is because the rate of economic growth is constrained to about 1.9%/ year for the past 12 years and the ongoing aging of American society. Older people ( sixties and up) just do not consume like they once did in their 40’s and 50’s (peak earning years). Their incomes are down and they just don’t need more things or a bigger house.

    There are 78 Million Baby boomers who will be retired and on Medicare and Social Security in ten more years. Half of them already are 65 and on Medicare as it is. These non-discretionary Federal Entitlement Programs are about 2/3 of the annual Federal Budget. In addition, an increasing portion of the annual Federal budget is devoted to paying interest on existing national debt. Just wait some day when interest rates spike-up to 4% and the dollar devalues. Look-out.

  12. Laura Pivonka 2 months ago

    For entertainment, watch “ The enemy within“ starring Benedict Cumberbatch It’s a British TV series in 2008, and it is absolutely amazing to see the parallel of what is happening right now. I have no doubt that the ELITES at the very top put their dreams into movies and sure enough this is one that fits to a tee. Think about how much sick pleasure they got watching this. Now, I ask you all—what in the hell do we do now? This film scared us.

  13. Laura Pivonka 2 months ago

    Sorry the series was called “The Last Enemy” and it’s on Amazon.

  14. Craig Bradley 2 months ago

    As was the case with the First Century A.D. Christian community, I expect state prosecution of the Church. This will sort out the wheat from the chaff. The True Believers in Christ will be like the Nazarim were and they were definitely outcasts of both the traditional Jewish Community and later, what became the Catholic Community following the Council of Nicea in A.D. 325.

    The influence of the Nazarim was strong but over the centuries, they all but disappeared. They will reappear in the Last Days, as will the prosecution by sovereign states of all believing Christians, as it was in 100 A.D. Some Theologians even believe the Beast of Revelation is really the last Great Empire descended from the Romans: The United States. There is ample evidence to support this view of Bible Prophecy.

    The Christian Community needs to plan ahead for difficult times because a digital currency may eventually include a RF dermal implant at some future time to physically track every consumer in the country. I suspect the implementation of the 5-G Wireless Radio Technology will be the cornerstone of this new digital monetary world, as well. 5-G is at least 5 years away from full spectrum implementation. Heck, 3G Networks just got “repurposed”. Therefore, I suggest you plan on digital currency by about 2032 A.D.

    I disagree with Mr. Gerald Celente as far his assertion there won’t be a alternative “out the back door” opportunity via barter for those not included in the coming new digital monetary system and who may, for various reasons besides their faith, decide a dermal implant is unnatural and not accept it. The consequence may very well be the exclusion from the consumer economy, that is, being frozen-out of commerce. ( Unable to buy, or sell, or trade). Junk silver coins ( 90% Silver) would be one work-around in a otherwise digital world.

    Old U.S. silver quarters and half-dollars would be an informal bridge between the old world order and the coming new financial paradigm, just a mere 10 years away. Gold coins would also have real value and utility but as Mr. Celente correctly states, the government probably will want to confiscate gold and silver specie. ( If they know who has the gold coins or silver coins). They won’t know if you keep it quiet. By planning ahead, you have a fair chance of evading the authorities, at least for a time, as was the case with the Nazarim in the First Century, A.D.

    http://www.sciforums.com/threads/jesus-teaching-was-assiciated-with-nazarim.110546/

  15. Alan Altman 2 months ago

    Let us all thank the truckers nationwide, 18 or less wheels, for just doing their jobs is usual. They are one of the true American heroes during this Corona-19 overblown bullshit. Thanks for delivering food, water, and toilet paper (yeah toilet is not in a crisis, it’s not a life-or-death need like water and food). Keep delivering those vital supplies of water and food. Thank you.

    That’s all for this week.

  16. Alan Altman 2 months ago

    Actually, two more facts to help others who can’t help but worry about the COVID-19 disease,

    1. Buy a digital thermometer, measure your temperature say, 2nd a day12 hours apart. I did twice so far yesterday afternoon, an average of 3, 99.1 degrees F, this morning at 6 AM EDT. this time although also an average of 3, 98.6 degrees F. So, only a difference of 0.5 degrees F. Also an old glass and mercury will work, not as accurate or fast, but you can still get an OBJECTIVE measurement of body temperature of a possible fever. I say OBJECTIVE because fevers can make you fell SUBJECTIVELY cold or hot. Also a high body temperature could be just a normal seasonal influenzas or cold virus. If your temperature elevates looks for breathing difficulties next, if that occurs as your doctor to recommend a hospital visit. Respiratory Distress is what generally kills with COVID-19.

    2. For the near future, a test for Corona SAR-2 antibodies, if you are well and have been well, you were infected but recovered. So, reinfection is extremely rare, and you can go back to work, people with the virus will not reinfect.
    So, baring a variant(mutation) of Corona SAR-2 virus you’re safe as long as the antibodies are present in large numbers, years usually and perhaps a lifetime.

  17. thanasi_10 2 months ago

    And i await gerald celente call for the “bitcoin bull run”

  18. maca007.5@gmail.com 2 months ago

    This antigen testing is the conditioning required for the mandatory vaccine drive. Get ready

  19. robmabbott1 2 months ago

    Hi Gerald,
    What are your thoughts on when the real estate market will crash or hit bottom? I am sitting on the sidelines waiting for the right time to purchase a house in a rural area, far away from the “rat race”. I have literally been waiting 10 years for a crash. It appears that the financial crisis has arrived, but metals are down and real estate is up. Not what I was expecting…

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