Bitcoin -Cyber Death of the Banking Industry

Those that control the quantity of currency has all the power.

 

gAtO tHiNkS -Here in America every dollar is created by a bank not the government. We have given the power to private bankers 6 times in our 200+ year history. The basic is the federal reserve prints all money then loans it to the U.S government. So every dollar create has debt/interest built into it from the beginning. 

This mean we owe money for every dollar created at birth then the bankers loan it to us to distribute but we pay them a debt/interest on that loan for every dollar. For the price of us owing debt for every dollar we then give the banker the privilege to loan out 10 times more money than they have (fractional Reserve Lending). They can now collect interest/debt on that too. They create money from a vacuum (a loan 10 x more money than they have in deposits) and we love the banker for it. After we bail the banking interest out of collapse they

gave each other bonuses – WOW they do have power and they throw it in our face the 1% control the flow folks so get use to it…

Digital Currency and Bitcoins

The purpose of this post is to look at currencies and how they apply into cyberspace. I am a cyber security person when we were working on our last book-The Deep Dark Web- we saw virtual digital currencies take off and start to revolutionize our beloved cyber world. When we saw more and more legit merchants and cyber criminals change their habits and go after the Bitcoin and all it’s power of non-repudiated transaction in the digital world we had to explore this. What we found is that plutocracy is at the very bottom of the problem… He who controls the quantity of currency has a all the power.

My first question was how does currency gets it value and we were surprised by what we found. Ever heard of a “tally stick” well it seems that a king in England spent all his gold fighting wars of course. So he needed to find some way to keep his kingdom alive so the invented the “tally stick” just a plain piece of wood that had notches on it and they would split the stick in half. One part for the banker and one for the person getting the goods and service and when they paid off their loans the “tally sticks” were re-united and we knew it was right.

So if we use a piece of wood “tally stick” or a piece of rock “gold” we can give the power of currency to anything even a math/crypto number (Bitcoin). Oh by the way England flourished very nicely with it’s “tally stick” since it was created without having interest first by the bankers.

Veteran4life

Those that control the quantity of currency have all the power

Debt is created with every dollar created by the Federal Reserve, it then is loaned to the government to pays it’s bills. We are cyber security people not financial people but this sucks. Why can’t we as a government create our own debt free dollars? Because the bankers all got together and created this system to confused the consumers into thinking that they were trying to protect us the people.

Once again: What we found is that plutocracy is at the very bottom of the problem… He who controls the quantity of currency has a all the power.

Plutocracy means ruled by the wealthy plain and simply and as long as the bankers pay off the politicians and have control of the money supply then they can reduce it volume of the currency and everything goes down. They can now purchase real assets very cheaply then they increase the currency by simply PRINTING IT and the values goes up and they have more money. Oh let’s keep the population  fighting against each other – The old divide and concur Democrats -Republican it’s all a scam to keep us happy in each party and control us – while they control everything they even fix the price of libor when it’s supposes to be free market and they have been found guilty and nothing can be done because they control the flow of money. They committed crimes by Libor manipulation and nobody has even got a parking ticket.

We have had a few virtual digital currencies but they have had their problems because they try to based it on gold, silver or banknotes. Bitcoin is so different because nobody can control the flow of Bitcoin. Bitcoins will become available thru mining using plain old math and crypto and that cannot be controlled. I guess that countries could become miners but there is still room for independent miners so Bitcoin presents a problem for them.

They tried to make Bitcoins evil when Wikileaks lost it’s funding from Paypal and Visa then Wikileaks  went to Bitcoins for support and they won and are still around. Even the european banks have reported this Oct. 2012 that if Bitcoins get more popular then Banks will be force to be excepted. Merchants will take any currencies that they can get for their goods and service and Bitcoins are now being accepted by more and more legit business so get ready cause Bitcoins are coming…

Now one of the bankers biggest fears has appears Africa is think of using Bitcoins as currencies. With all the problems that these countries have it’s people they can keep their moony in Bitcoins. Now if countries start to accept them then we have a big problem. And Bitcoins are coming in a physical way – people are selling Bitcoin denomination with a crypto m=number for the value of the bill or coin. Bankers are looking into this and we see the European Bankers association is already looking at Fractional Reserve standards for lending in Bitcoins. Of course Europe is adapting faster even as this new digital currency will just about eliminate transaction charges that banks and credit companies love so much for their bottom line. Bitcoins are a game changer – Adapt or Die – Look at the Record industry – look at the Publishing industry – Hay big Banker – Adapt or Die -gAtO OuT 

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