IT’S OFFICIAL: DIRTY CASH TO DIGITAL TRASH

As evidenced in our reports in a series of Trends Journals, we forecast the world monetary system will devolve from dirty cash to digital trash.

With central banks flooding nations with trillions to artificially inflate failing economies, we forecast they would replace existing currencies with digital ones, thus creating the illusion with a new currency replacing the old, they are wiping away the mountains of debt they have created.

After establishing footholds in Hong Kong, Singapore, and Switzerland, the Bank for International Settlements’ “Innovation Hub” is opening locations in Canada, Denmark, England, Iceland, Norway, and Sweden.

The Innovation Hub also announced plans to create a “strategic partnership” with the U.S. Federal Reserve.

The hub’s purpose is to foster and disseminate technology throughout the world’s financial system, including a blockchain-based global payments ledger and facilitating the creation of digital currencies issued by nations’ central banks.

Central banks in several countries are pursuing digital currencies, in part to create standard versions backed by their countries of origin instead of allowing currencies created by private entities, such as Bitcoin or Facebook’s “Libra,” to dominate national economies.

China is testing a digital yuan in four cities, trying out a range of 50 patented technologies that would prevent counterfeiting and give the People’s Bank of China vast oversight of transactions and money’s movements.

Sweden’s central bank introduced its e-krona in 2017. The country has seen the use of cash dwindle to just 13 percent of transactions; about 20 percent of the country’s merchants no longer accept cash.

Canada recently revealed it will be “embarking on a program of major social significance” by creating a digital currency that can be used by people who lack both a bank account and mobile phone.

Kristalina Georgieva, the International Monetary Fund’s managing director, said recently that digital forms of payment are “a big winner” in the current economic crisis, in part because people believe cash can transmit COVID. She thinks the virus has possibly “accelerated the digital transformation by two or three years.”

Cash transactions in the U.K. have declined 47 percent during COVID, according to Link, Britain’s network of ATMs.

TRENDPOST: Just as easily as the masses obediently obeyed their masters and marched off to the COVID War, so, too, when nations introduce digital currencies, they will readily accept them.

Of course, in a digital world, governments will know who spent what where, thus enabling them to steal every penny they can from the workers of Slavelandia in the name of taxes.

Moreover, the trend toward digital trash is also a factor driving up gold and silver prices, as investors seek hard currency safe-haven assets.

The going-digital trend will also prove bullish for cryptocurrencies, particularly for younger generations who live in a digital world and are fearful of an economic future of worthless money.

 

6 Comments
  1. Mountain Man 1 week ago

    When you boil it down cryptocurrencies are just a pool of fiat currencies driven and influenced by market greed. At the end of the day, governments will reign in crypto’s to control the pool to meet their objectives.

  2. Joseph Johnigk 1 week ago

    You will have to have a supply of silver to participate in the future underground economy!

  3. Craig Bradley 1 week ago

    China’s cryptocurrency is a bit ahead of anything the Federal Reserve Bank has at this time. Its possibly a first mover advantage situation. If China can get their international payments system up and running before the United States, it may add to the dollar’s demise. The SWIFT international wire transfer system is obsolete. So, the first one to have a working Digital currency on a secure blockchain will grab more business. It could contribute to a decline in Bitcoin at the same time. Remember, Bitcoin is a gamble. While it could go up 100X from here, it could also go to Zero. So, its a risky but potentially very rewarding trade. You have to know what you are doing. No stock broker can buy bitcoin direct; only derivatives or synthetic investments via ETF’s. Its NOT equivalent.

    • roksteady 6 days ago

      Craig and Mountain man don’t seem to understand the difference between cryptocurrencies and CBDCs (Central Bank Digital Currencies). Bitcoin (as the pre-eminent CC) is decentralised (anyone can mine it and the system relies upon the network of miners to sustain the system) and strictly limited to 21 million coins divisible to eight decimal places. Anyone can access the ledger and confirm the transaction record. CBDCs are wholly centralised, unlimited in quantity and exclusively controlled/monitored by the Central Banks.

      I’d rather have gold and silver backed currency over unbacked digital currency any day of the week but if I want to engage in a distant transaction with someone over the internet I’d far rather operate under the protocols of a CC like bitcoin than be tracked and surveilled through a CBDC.

  4. JustSayin 6 days ago

    A frantic race for global block chain dominance is probably underway. I hope war will not be used.

  5. Barbara Froehlich 5 days ago

    Bitcoin and others are just a play.
    Time to acquire your hidden wealth now. No matter what digital currency becomes king of the mountain, you aren’t hiding any of it.

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