Bitcoin as Conditioner: Rolling Out One World Currency

Forget its price trajectory and the rest of the prescribed hype for a second.  *Why* is Bitcoin a ‘thing’, who said so, when, and what for?  Was it genuinely a product of simple private sector ingenuity during a time of maximum need?  OR, based on the many Establishment-linked constituencies trading, investing or imminently, regulating it, is it a ‘test balloon’ or ‘beta test’ for a much wider, older elite plan for global monetary revision?  In this episode of Money and Fear, we’ll look at Bitcoin, cryptocurrencies and the blockchain from much more nuanced political, historical and philosophical perspectives than sell-side, hyped-up evangelists, or even Bitcoin’s standard critics, are used to considering.  We’ll weigh Bitcoin against periodic appeals from Establishment sources for a ‘one world currency’.  Runaway price movements will be observed against historical “Tulip Bulb Manias” and philosophical considerations regarding “money” will be reconsidered.  Do not miss this one-of-a-kind show to find out what this relatively recent monetary “phenom” is supposed to even mean!

*Follow us here at Newsbud Twitter

**Subscribe here at BFP-Newsbud YouTube Channel

Watch Episode Preview

Watch Members Only Full Episode Here

***Subscribing Members must be logged in to see the full video





Featured Video MP3 Audio Clip

***Subscribing Members must be logged in to listen to the audio


Show Notes

HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH, NSA research document, 1996

Is Bitcoin and other cryptocurrencies the result of a government experiment imagined 12 years before Satoshi white paper?

Bitcoin Prehistory

Milton Friedman Predicts Bitcoin In 1999

One world, one money – The Economist Magazine, 1998

Get Ready For A World Currency – The Economist Magazine, 1988

Crypto currencies are mirroring pre-crash banking systems – An ideological dispute over future scale has led to a breakaway version of bitcoin

Digital currencies like bitcoin aren’t real – fund warns investors

Why a Bitcoin Hard Fork Is Unlikely to Faze Investors

Fedcoin: The U.S. Will Issue E-Currency That You Will Use

The IMF and cryptocurrency

BIS Report: DLT ‘Promising’ But ‘A Long Way Off’

The Initial Bitcoin White Paper, October 2008

Text #1:  The Reign of Quantity & the Signs of the Times, by René Guénon

 Text #2:  Men Among the Ruins, by Julius Evola

 *For additional footnotes and links refer to the Newsbud article link above

FB Like

Share This

This site depends….

This site depends exclusively on readers’ support. Please help us continue by SUBSCRIBING and/or DONATING.

Comments

  1. Craig Toth says:

    Good episode Pye, always observe responsibly & remain vigilant.

  2. Sarah J Travagline says:

    https://youtu.be/sG3Ju8AhCKM
    Here is so more information about the possible future of bitcoin. I think you will find very interesting.

  3. Karrol Steeves says:

    Pyle, you might find this video by Lynette Zang, a financial analyst with ITM Trading on the role of the SDR and crypto currency interesting. She released it yesterday. I found it stunning in it’s implications. https://youtu.be/SYPsygSHnAs

  4. Karrol Steeves says:

    Pye, (sorry for the misspell courtesy of spell check) The video Sarah posted is a follow up interview which is very interesting also which was spurred by the video I posted.

  5. Michael Naaden says:

    hmmm…maybe Peter Shiff isn’t completely wrong about bitcoin after all.

  6. victor friese says:

    This is something I have wondered about for a long time. I am glad you are covering it.

  7. John Phillips says:

    Excellent job Pye! I find it interesting that people who otherwise would reject a purely electronic money system are willing to support and pump-up bitcoin. I find it interesting that folks like James Corbett who otherwise rejects fiat currency claims bitcoin is an alternative.

    I see it as Pye does. We are being conditioned to accept this crap.

    Simple answer….play by your own rules and not theirs. If you are following, you are definitely not leading.
    Best Regards

  8. Decred is the future. Watch Out.

  9. Thank you all for your kind, thoughtful comments!

  10. FYI,

    The following link does not connect to the document listed:

    Text #2: Men Among the Ruins, by Julius Evola

  11. Russell Linz says:

    The Internet was created by U.S. Government Intel agencies as a way to massively influence information and disseminate disinformation. The reason I know Bitcoin ( created by a mysterious inventor) and other crypt o currencies are a planned program is the fact they are allowed to exist. The whole end the Fed ruse was a sham designed to take us to the next level of Global Government. Excellent video well researched and presented in a concise and understandable manner.

  12. Lennart Mogren says:

    Beg to differ. Not that I am certain, but I think that Pyle made a mistake by omitting an analysis of the blockchain. A bit lazy in my opinion. Someone in the comments referred to James Corbett. Corbett is critical and intelligent. Being critical is not enough. Saying that Ethereum is a Bitcoin competitor is plain wrong. Ethereum is programming platform on the blockchain. The implications of this technology is hard to intellectually grasp and the easy way out is to just dismiss it.

    Lynette Zang (ITM Trading’s Chief Market Analyst) and Peter Schiff (of schiffgold.com) both are have personal agendas to favor precious metals and express contempt for cryptos in the same vein. They both sell gold and silver.

    I think time will tell and meanwhile we have to make up our own minds. Contempt is not helpful.

    • Bas Spliet says:

      Agreed. I think bitcoin is not a black-and-white case, just like gold or silver isn’t. Aren’t the majority of bitcoin users people who have taken a conscious step away from centralised fiat currency? If so, then I would hope that they move onto alternatives if (or once?) bitcoin is increasingly being taken over by a centralised regime? Anyways, the most important thing is to remain vigilant. I’d like to see Pye’s recommendations on which kind of money he thinks is best.

      • @ Lennart, Bas & William: I purposefully researched, wrote & spoke around said points you’ve each made, and they’re evident in some of the source material hyperlinked above, especially the paper on cryptos written in 1996 by NSA folk.

        Gold & silver have been, are, and will remain eternal core money. You don’t see foreign / domestic central banks compiling cryptocurrencies as Tier 1 capital; you do see them hoarding gold. Bitcoin/cryptos are a purposeful distraction away from them while arranging global monetary consolidation.

        The show’s less than 20 minutes long, yet could’ve gone on further in a technical capacity for backing what I and many others say. You should ask yourselves why, if the blockchain is so genuinely ‘government proof’, that there is such a sweeping Establishment-backed push to appropriate & regulate offerings on it. Don’t just rely upon all the crypto-blockchain hype & ‘marketing’ as technologically sacrosanct; look at things from nuanced political, historical & philosophical perspectives.

        Re my inclusion of René Guénon in said piece: I clearly didn’t – and couldn’t – do him justice in such a short mention, yet the Traditionalist views he, Evola & others expressed aren’t to be discarded as “ravings of earlier men”. I can assure you that the 0.00000001% are hardly divorced from esoteric or Hermetic practices with regard to how they eventually design said exoteric technological designs. That was an invitation to investigate, if anything.

        @ Orenda Review: http://cakravartin.com/wordpress/wp-content/uploads/2007/02/julius-evola-men-among-the-ruins.pdf

        • Andreas Hedqvist says:

          I think your episode was well balanced and presented. Remember that it is impossible to please everyone on a subject like this one. People have their own biases, notions and suspicions which to them are obviously important but whether they are objective or not is another matter. A lot of crypto enthusiasts became quite angry at Lynette Zang’s interviews on the subject when she equated cryptos with a trojan horse concocted by the powers that be.

          There is a difference between wealth preservation and economic prosperity. An economy of very wealthy individuals but lacking transactions (velocity of circulating currency) will quickly stagnate and implode. An economy of relative poor individuals with a vibrant and highly active transactions will quickly gain in added value and benefit everyone, that is what an economy is – activity. If cryptos in the near future can help facilitate economic activity in areas presently lacking traditional economic infrastructure it may prove to be a tremendous way to empower individuals and eventually emerging economies. This should not be forgotten when discussing this because it is not all about preserving wealth.

          • Thank you Andreas, and indeed, the plan is to empower through new global digital and monetary means. The latent, gradual introduction of cryptocurrencies and the deeper blockchain are meant to ultimately pave the way for entirely re-energizing the globe economically, and overlap with seemingly separate efforts by governments & central banks to do away with physical cash in places like India, Thailand, South Korea, Sweden & elsewhere.

            Only said wider efforts are, ultimately, meant to augment the powers of said wealthy, who clearly need routine cyclical economic reinventions and recharged activities for the relative poor in order to retain their status.

            Ultimately, these linked macro-monetary ‘trends’ are meant to synthesize and consolidate collective human energy in an unprecedented fashion. Hence my deference to Guénon and Evola in said piece.

        • William Wanklyn says:

          I am sorry if I piqued you with my comment about ravings, and I cannot know what is in the minds of those very few at the pinnacle of global power. I would not be surprised about any strange and wonderful practices they may have.

          I do agree they are intent on preserving and even augmenting their hold on all of us. I choose to believe that cryto currencies have sprung from the deep well of the human psyche and have taken them by surprise. In the past, the very wealthy, the “goldsmiths” have been able to corner the market for gold, manipulate its value and use their wealth in order to push states into debt slavery to them. The rise of cryto currency takes this power away from them.

          • “The rise of cryto currency takes this power away from them.”

            They retain too much power to allow such a thing. It is merely deception, meant to augment said power & make it more foolproof.

          • William Wanklyn says:

            I think you are too gloomy. The world is not coming to an end. The challenge we all face is to depower a tiny number of people. They are not all powerful. We are the many, the multitude. They cannot survive the onslaught.

            Bitcoin represents the power of the multitude.
            There is an article on zerohedge
            http://www.zerohedge.com/news/2017-08-18/australia-cracks-down-bitcoin-exchanges-unnecessary-new-aml-law#comment-10106589

            to which I commented as below:

            “The bitcoin economy will have to be underground, because there will be slim to none legal outlets for crypto currency. Italy would be the ideal test market for Bitcoin, so black market.

            The centralist want to abolish cash and get all transactions electronic and traceable.

            Bitcoin, or its ilk, goes around this grip, and provides free exchange anywhere. This freedom does not imply criminality, although if you make a law abolishing freedom, then bitcoin transactions become illegal.

            The money laundering story is a blind, a ruse. The major banks, casinos, art markets, housing development, you fill in the blank, serve as the main avenues for black money, as they have done for eons before. Suddenly, bitcoin has arrived and taken over the market? I don’t think so. Bitcoin is a change for the better, and branding it and us as criminal money launderers is libelous.

            The reaction is understandable. Bitcoin is an existential threat to the banking community.”

            I maintain it is incorrect to view Bitcoin as a manifestation of the beast. Ripple?… now there you have a point.

    • John Phillips says:

      It was I, John Phillips, who dared to question the Corbett, not “someone” as you mention.

      Bitcoin was created out of thin air, has no foundation what-so-ever and can be manipulated as with the “dollar.” Note the “split” performed on the coin last week. Corbett and others who are profiting from the coin’s climb are quiet about it as they go to the bank, but as with all Ponzi schemes, those who bought in late are taking it in the shorts.

      If you believe that you can rely on any form of money, including gold and silver, then you’re not thinking. If the crap ever hits the fan; salt, flour, grains, coffee, food and ammo will be the commodities of choice.

      I respect James Corbett’s work a great deal; however, on some topics (bitcoin and climate change) he leaves me wondering what his agenda really is. Keep thinking…stop believing.
      Best Regards
      John

      • Andreas Hedqvist says:

        Keep questioning everything, that’s healthy and constructive. James Corbett is an open critical thinker and investigates and presents topics in an excellent way, I’m very grateful for the service he provides. The simple fact that we are discussing this topic now and disagreeing on aspects is precisely what pushes all of our understanding and views forward. We can’t say anything with absolute certainty as to the purpose of intent or origin of cryptocurrencies but arguing about pros and cons is how we should deal with it. Stay flexible and inquisitive, don’t take too firm a position on anything before you’re absolutely sure.

  13. William Wanklyn says:

    I believe Pyle has it wrong here, on a number of levels, the most obvious being that bitcoin is being encouraged by the powers that be as a fore runner (but it already is) to a one world currency.

    The bitcoin/fiat exchange system is being systematically choked by the banks and the governments in the western world. I use XXXXaCX. They have been cut off from Canadian banking in the past and now bank with a small credit union in XX. Trying to send money to the exchange from a mainstream bank is like pulling teeth. So if ((they)) want us to use it, why are they making it as difficult as possible?

    Point 2. The blockchain as envisaged by Satoshi is decentralised and not controllable by a centralised entity. ((They)) cannot manipulate it. It requires global consensus. Bitcoin is the anti-globalist global currency.

    Point 3. Pointing to a philospher 80 years ago to claim knowledge of the conspiracy you see today is magical thinking. I am afraid I have no time for that. I agree we can find roots in history for our current state of affairs, but there is no determinism in the ravings of earlier men.

    Finally, I can only say that despite the jack boot of the state on our necks, we are moving to crypto.

  14. Karrol Steeves says:

    Yes Lynette Zang sells precious metals for a living but the documentation she presents in you presentation is compelling and deserves a deeper look. Here is her follow up presentation from yesterday: https://youtu.be/PCQKNvsIQxE

  15. Andreas Hedqvist says:

    Another nice episode by Pye on an important subject. Many speculate on the origin and true intention behind the creation of Bitcoin and the distributed ledger technology, so called blockchain. It’s all interesting but since it is a non centralized, open source and completely voluntary technology I personally think it has a more benevolent than malevolent foundation. The main reason why I believe in cryptocurrencies is the lack of central control and this is probably why national governments are only very reluctantly allowing them since they represent a threat to central banks and government control.

    There are two very different schools of thought on what currency is or should represent – one is that it is a measure of debt – the other that it represents work. Today the entire world revolves around the first definition which is also centrally controlled and manipulated and if you haven’t watched Mike Maloney’s series on money (especially episode 4 : https://www.youtube.com/watch?v=iFDe5kUUyT0&list=PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc&index=4) I recommend that you do. Bitcoin and many other cryptocurrencies are not created through debt issuance and this is why they are different. It really doesn’t matter that they don’t represent something physical or tangible because as long as they can be reliably used (even trustlessly) to transfer wealth (capacity to perform work) this is all that matters. Bitcoin can be traced and tracked by anyone who wants to so the notion that this is a terrorist/criminal vehicle is pure nonsense and cash is much more preferred by these groups. For anyone who wants to be completely anonymous it is quite simple to exchange open cryptos such as Bitcoin into i.e. Verge, Cloakcoin or Monero and all of these follow Bitcoin’s principle of non centralized control.

    Cryptocurrencies or coins should not be viewed as simple a new medium of exchange because they are much more than that. Ethereum opened this up with their smart contract design, Salt will open up a new trustless lending system and Populous will remove long bureaucratic legal processes for title transfers, mergers etc. One area where cryptos have not yet found a way it seems is in the financial markets’ derivatives business which in itself is telling more about these markets today than of cryptocurrencies. The problem seems to be how to make any viable business in this realm while not obscuring the open and transparent design of cryptocurrencies. I see this as proof of cryptos being superior to current fiat currencies but only time will tell if this is true. Tom Lee’s Bitcoin price prediction of $55k is interesting only as long as the US Dollar is used as a comparative measure and the question is not if but when most people switch perception away from fiats.

    • Thanks again for your words, Andreas.

      “Bitcoin and many other cryptocurrencies are not created through debt issuance and this is why they are different. It really doesn’t matter that they don’t represent something physical or tangible because as long as they can be reliably used (even trustlessly) to transfer wealth (capacity to perform work) this is all that matters.”

      Cryptocurrencies are nonetheless fiat, ultimately *because* they are not directly linked to something authentically physical or tangible, like finite gold and/or silver, which the 0.0001% prefer to hoard for themselves globally. Those who truly understand the eternal monetary sanctity of gold will discern this relatively recent – yet tellingly very rapidly, globally sweeping – digital “money” trend.

      The wider, systematic ‘assigned trust’ mechanism by which cryptocurrencies are undergoing a collective ‘switching of perception’ amongst the masses is ultimately no different than the one by which the US Dollar assumed & retained global reserve status. Only the USD’s days are numbered, and the very long-term thinking said elite know this. Hence their decades-long plans for its digital, trackable, fully auditable replacement.

      http://www.investopedia.com/news/imf-blockchain-banks-invest-cryptocurrency-blockchain/

      http://www.bis.org/cpmi/publ/d137.pdf

  16. Lennart Mogren says:

    “The concept of decentralisation applied to the human communication of value.”
    https://youtu.be/l1si5ZWLgy0
    Helps to understand what’s hard to wrap one’s head around.

  17. victor friese says:

    Pye, everything they do is based on fraud and theft (theft as in enslaving people with debt creation, money printing, sabotage and then luring people/countries into debt in hopes of countering effecta of sabotage, saying things are safe to make money off them while they hurt people such as with cigarettes and lead paint and PVC and vaccines and radio frequencies… etc… thereby externalizing costs to the victims while they rake in the profits, and so forth) and blackmail and violence. This signifies their illigitimacy. It honestly makes me wonder if these people themselves are being set up for backlash only to be used as fodder/catalyst for production of a new society.

    It kinda sounds like those philosophers you referenced were of that mindset? Or at least in that sorta ballpark?

  18. seattleredpill says:

    Thank you Pye for posting your thoughts and information… I greatly appreciate it. Currently there is so much cryptocurrency hype, it is hard to wade through it all. Posts like yours and the ensuing comments/discussions is how we will all further our knowledge of the subject. Let me just brainstorm a bunch of thoughts/questions for everyone to chew on.

    – Initially, I was very skeptical of the bitcoin push… just seemed exactly the opposite of what my instincts were telling me. I have since changed my opinion.

    – After much study, I found that many highly intelligent renegades, whose information I’ve enjoyed consuming over the years (James Corbett, Max Keiser, Kim Dotcom, Cliff High, John McAfee, etc.) are very supportive of the technology. These people are a lot smarter than me, and are the hugely opposed to the current centrally managed system that strangles us today. Are all these people just charlatans and stooges? Have they all been duped? Or are they just ahead of the curve?

    -If cryptocurrencies are all a scheme created by the PTB, then why isn’t it being pushed in the US? Why isn’t Amazon accepting bitcoin for payment? I live in Seattle and I can barely buy a cup of coffee with bitcoin here.

    – IMO, Gold and Silver are horribly manipulated and fraudulent markets… “paper” gold and silver control and restrict true price. Watching Peter Schiff stick his head in the golden sand is hard to watch. From one perspective, the goldbugs look like typewriter salesman… outdated dinosaurs. Yah, the world could crash and internet come down, but we will have more to worry about if that happens than dollars, bitcoin, or gold… as referenced before it will all be food, ammo, and guns at that point.

    – Lastly, a quote from John McAfee, referring to the blockchain technology… “The distributed ledger, maintained by no-one, accessible to all and validated by consensus is the tool the world has been waiting for.” “… the old paradigm constructs are meaningless in this new world.”

    – I am all ears to hear from those that warn against bitcoin, etc. as a technology being pushed by those pulling things strings around the world… the debate is healthy. But, so far I’m leaning toward the camp that believes, that if done right, blockchain and cryptocurrencies will be a great equalizer for the people of the world and eliminate the current stranglehold that the financial institutions (IMF, FED, etc.) currently have on the flow of currencies.

    Thanks again for the post!

    • “Are all these people just charlatans and stooges? Have they all been duped? Or are they just ahead of the curve?”

      Perhaps. Or perhaps they’re naive about the true technological & metaphysical capabilities of the 0.0001%, who brought about the Internet itself decades ago, only to now ostensibly ‘adjust’ it, presumably for more focused deployment toward capturing collectivized human energy.

      Again, ask yourself why Corbett/Keiser/et al. are now thus essentially concurring in enthusiasm & actions with the likes of Blythe Masters, the Winklevii, IBM, Andreessen Horowitz, Draper Associates, the IMF, BIS, NSA & even the Fed itself when it comes to investing in, providing ‘guidance’ for, or simply following the blockchain in general.

      https://www.wired.com/2015/06/tech-behind-bitcoin-stop-next-snowden/

      • seattleredpill says:

        The IMF, NSA, etc. have to follow, understand, and keep tabs on this technology… the cat is out of the bag, and they will do whatever they can to control, censor, and maintain the status quo. I believe it will also be a huge struggle moving forward as innovative spoilers challenge conventional powers and systems, and eventual change for the better is ushered in.

        Many people feared the printing press, and attempted to ban it, but look what that invention did to the enlightenment of the citizens of the world. Now we have another opportunity to level the playing field once again. In one example, given the choice of a retailer accepting visa payments (and the 3-5% fees), or cryptocurrency payments (with the less than 1% fee), I think most small business owners would choose the latter. And then there are the monthly fees, late fees, checking fees, atm fees, etc. that banks charge… those would disappear if you choose to become your own cryptocurrency banker. Another example that I think will change the world are micropayments, which could greatly benefit Newsbud… visit a website and pay the owner .000025 bitcoin (which is 10 cents) if you like the content (the service fee might be a tiny fraction of a cent or nothing at all)… and if they can get a million hits, that’s 24.41 BTC (or $100,000 on 8/22/17).

        The more I learn, the more I’m comfortable with this technology. Taking financial control away from the few and giving it to the masses is a wonderful idea, and something I would love to help promote. My take is we cannot really know what will happen… but I think that it will drastically change the world. And I also think the world needs to be drastically changed. If possible, I will support a financial system that does not seek to make profit off of war/military spending… it may not work, but I feel I have to try… the current system is not working for me.

  19. John Phillips says:

    Come on folks! A Ponzi scheme is a Ponzi scheme is a Ponzi scheme. Let’s ignore the split in bitcoin. Let’s ignore that those who bought in early are making a killing and those who are foolish enough to buy in now are just that…..foolish. Let’s ignore there is simply no foundation or anything of value backing bitcoin.

    Yes, time will tell us for sure that Bitcoin is a Ponzi scheme. Those who possess bitcoin are at risk of holding a valueless electronic coin that can vanish in a blink of a eye. To say bitcoin holders have control is plain absurd. However… Wait until those who have a lot of bitcoin start cashing in and see how things go! Down!

    Any electronic form of currency or “investment” can vanish in value as with your stocks, bond, etc. It seem odd to me that don’t express this unless their motivation is they have already bought in, watching the value of their “coins” rise and want more people to buy in to favor their position. Ponzi!!!

    Lastly, I find is amazingly absurd that people “believe” bitcoin will be our savior to the US Dollar. I “think” it is just another avenue to condition us to the idea of electronic forms of money that can be completely controlled in the digital world…as Pye does.

    I like the intellectual fencing on this site, but I prefer thought and come sense.
    Best Regards

    • seattleredpill says:

      No disrespect, but posting Ponzi, Ponzi, Ponzi!!! would suggest you haven’t analyzed the technology. Bitcoin is finite and deflationary in nature. The more I learn about the technology, the more I look at people like you as uninformed participants in the discussion. I would advise studying and understanding the invention (blockchain technology… a decentralized mechanism for emergent consensus) that Satoshi Nakamoto released to the world in 2009… it is truly genius. If anyone would like to get a better picture of how this so-called Ponzi scheme is in the process of changing the world forever, I would highly encourage you to watch the following entertaining and informative presentation from Andreas Antonopoulos.

      Fake News, Fake Money – https://www.youtube.com/watch?v=i_wOEL6dprg

      • No disrespect right back atchya, but you didn’t bother to pay attention to the details of said piece, let alone to what the Show Notes above laid out. And you seemingly do not understand monetary history, either, let alone political history, as physical gold & silver are truly finite, scarce, and thus forever “Money”. You do not see central banks hoarding bitcoins, but gold.

        “Bitcoin is finite and deflationary in nature.”

        It’s really, really not. Especially when ‘forkings’ result in *allotted* amounts spiking immediately & ‘miraculously’ from 21 million to 42 million. No, that’d be definitively *inflationary*.

        “[T]hat Satoshi Nakamoto released to the world in 2009…”

        Again, there is no “Satoshi Nakamoto”. Bitcoin was tactically released in the middle of the 2008 Financial Crisis … without coincidence, and had been originally conceived by the NSA in the listed white paper above in the Show Notes. You would presumably argue, too, that the demonstrably governmental origins of the internet itself … are irrelevant to said wider issues of power as well. Again, not a coincidence that blockchain is being described as ‘a second internet’, either, and not least by evangelists like Antonopoulos.

        “[C]hanging the world forever” — Indeed. Toward a long-term planned One World Currency which will be ultimately, fully traceable and auditable. Observe the Establishmentary presence – which is conspicuously growing – the blockchain arena globally.

        The constant urging to ‘study & understand the technology’ is a typical Appeal to Authority argumentative fallacy in light of the above.

        • Excellent points, Pye. In light of recent articles/news on cryptocurrency your presentation provides the best analysis I have come across. Thank you!

        • seattleredpill says:

          Easy Pye, no reason to get defensive. My reply was directly to John Phillips… but, I’m game for some more discussion.

          1. You mention precious metals… some of the strongest resistance to cryptocurrencies I’m hearing is from folks in the gold and silver community (especially from those selling it). And I get it… it has to hurt watching the price of an asset class (physical gold and silver) be so suppressed and manipulated, meanwhile the capital that could be moving into precious metals is going to the new kid on the block (cryptocurrencies, backed by nothing). I personally think that owning a percentage of precious metals in an investment portfolio is a wise decision. I would love to hear your advise on investment percentages… and then I would ask why not invest 5% into cryptocurrencies?

          2. You make the point that cryptocurrencies are inflationary. It seems disingenuous, or at best misleading to suggest that a “hardfork” doubles a specific cryptocurrency… that is not true. The recent hardfork in Bitcoin did not double the number of Bitcoins, but instead created an entirely new coin (Bitcoin Cash). http://www.telegraph.co.uk/technology/2017/08/01/bitcoin-cash-everything-need-know-bitcoins-hard-fork/

          To think that a new digital currency will not some hiccups along the way is unrealistic. In addition, to think that a cryptocurrency will magically take over the world and enslave everyone is equally unrealistic. Gold, silver, cigarettes, and ammo will most likely always have value.

          3. So what if the PTB created the internet? Are you suggesting that we should stuff that genie back in the bottle. Praise the internet! And similarly, who cares of Satoshi is the PTB. The crypto-cat is out of the bag, and flying around the world faster than governments can control. Would you suggest that the blockchain genie be put back in the bottle?

          4. You warn of a fully traceable and auditable One World Currency. Wouldn’t it be wonderful if governments weren’t allowed to create money out of thin air, and the money that they had would be traceable and auditable? Imagine the day when the US military can no longer shrug its shoulders when trillions of dollars are unaccountable. The current fiat system is dead and dying. Cryptocurrencies seem like an incredible concept. With that said, early technology adopters like myself will lead the way… and should it prove beneficial and worthy, people like you will eventually follow.

          5. You belittle my encouragement to educate and understand this technology, which seems like a cheap shot. If this cryptocurrency invention is as evil and diabolical as you suggest, then being able to understand and counter the technology is even more important.

          • Thank you, seattleredpill. Not getting defensive, just arguing the points. Ad hominems do nothing anyway, and I don’t intend to issue any, certainly not on Newsbud.

            Good observations on precious metals which, again, are tactically suppressed price-wise while bitcoin by contrast is ‘goosed’ to the upside and aggressively so, in order to paint sustainable perceptions of the former being pointless while the latter is ‘the future’. Same core financial/technical entities carrying out “price” movements in both money “asset” classes.

            “ The recent hardfork in Bitcoin did not double the number of Bitcoins, but instead created an entirely new coin (Bitcoin Cash).”

            Same difference, ultimately, as it’s all emulating fiat cash’s history. I.E. Naming it as “Bitcoin Cash” is thus strategic, and for expected reasons of perception management, which your argument furthers. I.E. Despite alchemical attempts in the past, physical gold & silver cannot be conjured, let alone as easily as digital cryptocurrencies, whatever their names or specific iterations.

            “In addition, to think that a cryptocurrency will magically take over the world and enslave everyone is equally unrealistic.”

            Define said “magic(k)”, then, let alone said ‘enslavement’. I.E. Bitcoin won’t “magically” become world money in a fortnight, yet neither did the USD become the world reserve currency in such manner. Nor Sterling before it. Yet Magick, very much so, is technically involved. I assure you. Hence – again – my referencing the likes of René Guénon and Julius Evola in the full episode above.

            “ The crypto-cat is out of the bag, and flying around the world faster than governments can control.”

            Your 3rd paragraph contradicts your 2nd…

            “You warn of a fully traceable and auditable One World Currency. Wouldn’t it be wonderful if governments weren’t allowed to create money out of thin air, and the money that they had would be traceable and auditable?”

            Your 4th paragraph contradicts your 2nd as well, and said 2 sentences alone in your 4th paragraph above contradict each other. I.E. *Governments [or Government, as in World Government, ultimately] themselves* would be doing said ‘creating money out of thin air’. Hence the ‘traceable and auditable’ part. You’ve got it backwards, because the unnatural means of creating “money” (I.E. fiat, whether via paper currencies or digital cryptocurrencies) afford immense, incalculable power to & for its core – and increasingly consolidating – creators. For that, one must delve into history, philosophy & esoteric studies.

            “ The current fiat system is dead and dying.”

            Sure, the current *paper & coinage* fiat system might be dying (and by long term design at that…), yet it is ‘evolving’ (read: being replaced by) a digital fiat hegemony which is being sold, as expected, as ‘Freedom From Tyranny’. The yearning for complete control always comes shrewdly wrapped via the garment of liberation.

            “You belittle my encouragement to educate and understand this technology…”

            Anything but. If anything, we’re encouraging you & everyone else to not only understand crypto & blockchain technology thoroughly in their own rights, but alongside ‘ancillary’ fields like the mentioned ones of monetary history, philosophy, et al. A holistic approach is required toward observing the blockchain, as it would be toward anything potentially (read: imminently) ‘world changing’.

            Thanks again for your comments.

          • victor friese says:

            I never knew what the term magical thinking meant until I read this seattleredpill post… … I’m blank.

  20. David E Burden says:

    What happens to ALL of the cryptocurrencies when the internet gets taken away from us “Commoners”?
    If I can’t hold it in my hand, eat it, burn it, trade it without a computer, or in some tangible way make use of it when the defecation impacts the rotary oscillator, then it is no value to me.
    I’ll stick with gold, silver, food, ammo, and things of that nature to invest in.
    We do not live in a fair world, the powers that shouldn’t be, will take whatever they want if they can gain access to it. They are NOT moral people.
    Pye, Thank You. I believe you made your case quite well. I too am an avid follower of James Corbett, but let’s face facts folks, NOBODY is right 100% of the time. The questions and comments here are good, and I find them very interesting. I’ve learned more about cryptocurrencies than I expected to, but not enough to entice me to invest in any. If anything it has solidified my former instinct to avoid them completely.
    Therefore I’m just an observer on this one. It will be interesting to see who turns out to be correct though.
    This is a prime example of why I appreciate Newsbud so much, you are simply not going to find this kind of information, with quality discussion, anywhere else. Certainly not within the realm of the “Lame Stream Media”.

  21. seattleredpill says:

    Thanks for the discussion Pye, I appreciate it. At this point, I will agree to disagree.
    Looking forward to future episodes on the subject.
    Cheers!

  22. Invaluable further insights from data scientist Marc Ward, especially regarding the esoteric/occult aspects of Bitcoin, let alone the quantitative sciences which we’re purposefully NOT taught…

Speak Your Mind