In
Article 134, written three weeks ago, I claimed that ‘the world’s financial
system is now in its death throes’. Amid the contrived oppression from the COVID-19 pretext, fiat
currencies are being conjured out of thin air in ever greater quantities. Most
of this ‘funny money’ is being used to prop up zombie banks and corporations.
The flip side of the coin is imminent hyperinflation for the masses and
unpayable debts for generations yet unborn. It amazes me that they continue to get
away with it.
Furthermore,
central banks are cranking up their war on cash. Their aim is to abolish notes
and coins (an independent medium of exchange) and make all currency digital (and
issued by themselves alone). This would be a catastrophe for human liberty. All
transactions could be monitored. Funds could be cut off altogether, for
whatever reason – e.g. political dissidence or not being a ‘good’ (obedient) citizen –
leaving the affected individual unable to buy even a loaf of bread. These
dangers should be apparent to all. Sleepwalkers, awaken!
Let
us assume that cash will indeed become obsolete very soon. There are two
potential (digital) outcomes. One is a system controlled by banksters and
corrupt politicians, where digital currencies would still be created, at will,
from nothing, inflicting inflation, then equally painful subsequent deflation,
on the masses (Figure 136.1). The same psychopaths would remain in charge.
Figure 136.1: The banking establishment realizes
that an economic revolution is imminent. Its intention is to substitute the
present system for a digital one – while retaining control.
Copyright © 2019 CryptoWorld Club
There
is, however, as I mentioned previously, an ingenious alternative in the form of
Bitcoin (BTC). Banksters hate BTC, because it poses a mortal threat to their
supremacy – although the thundering hypocrites invest in it nonetheless. The
supply of BTC is finite, and it operates perfectly without any centralized
control. As with all decentralized finance – or ‘de-fi’ – X may transfer currency
to Y without an intermediate making the rules, setting interest rates and creaming off fees. In other
words, banksters would become redundant – forever.
Other
cryptocurrencies have enormous potential, too. Ethereum (ETH), created by a
phenomenal Informatics geek called Vitalik Buterin (Figure 136.2), provides a digital
platform for de-fi and smart contracts. Chainlink (LINK) is another decentralized
network, enabling data to be transferred rapidly, securely, and without any need
for a controlling intermediary.
Figure 136.2: Vitalik Buterin wrote his
white paper for Ethereum at the age of 19.
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These
and many other digital currencies offer tokens on crypto exchanges. Their
respective values have rocketed within the last decade and are set to explode
further when adopted more extensively by both businesses and retail investors.
The
fourth cryptocurrency I would like to mention is a personal favourite. Tezos (XTZ)
has the in-built ability to oversee and continually modify its own operating
system, relying on a so-called ‘proof of stake’ protocol. The more it is
adopted and used, the more validated and secure it becomes. It also offers
another perk. Investors can ‘stake’ their XTZ on crypto exchanges, thereby
supporting the network’s operations, and are rewarded proportionally. It is comparable
to earning bank interest, although there are two differences: first, there is
no ‘bank’; and, second, the current XTZ interest rate is approximately 4.9%
(compared with 0.1 to 0.5% offered by banks). It is a no-brainer. It will soon
be possible to ‘stake’ ETH as well, although a minimum of 32 ETH tokens (currently
£5,900 or 7,350 US$) will be required to earn 10% per annum (Figure 136.3).
Figure 136.3: These four cryptocurrencies – (from top left, clockwise) Bitcoin, Ethereum, Chainlink and Tezos – are not only highly profitable investments.
They also have the potential to disarm corrupt, self-serving banking institutions and help
to return power to where it belongs: with the people.
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One
final observation: during the recent race riots in the USA, a masked protestor
remarked presciently that, if enough ordinary people removed their money from
banks and transferred it to decentralized crypto assets, a stake would be
driven through the rotten hearts of the moneychangers. We now have a way to
destroy the corrupt system. All we need is education and the requisite collective
will.
Copyright
© 2020 Paul Spradbery
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