Global War on Cash and The Blockchain: A One-Two Punch for Complete Control

“Cold hard cash”.  Paper currencies and coinage have been around for centuries.  So why is there a “war” against cash, all of a sudden?  Sure, governments and the central and private banks which control them can claim that this war is meant to prevent crimes and illicit activities, but are there deeper, longer term reasons involved?  Especially considering what “money” is and how it has the capacity to so uniquely dictate human energy?  Could the aim toward complete digitization of cash involve the wanting of complete control over each individual’s economic affairs, and thereby, every person’s ultimate existence?

And how do Bitcoin, other cryptocurrencies and the blockchain in general fit into all of this?  Are, say, the simultaneous push for killing cash and introducing cryptocurrency trading via mobile phones in India purely coincidental?

In this latest episode of Money and Fear, a consideration of the War on Cash will accompany a wider questioning of the blockchain as efforts aimed toward the establishing of a one world monetary order, and as quickly as possible.  What that level of assumed power will entail will also be pondered, for better or for worse.

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Show Notes

The Global War on Cash

 Blockchains And The War on Cash

 The war on cash and its effect on the Blockchain

 The War on Cash: Bitcoin, Blockchain, Banks & Decentralisation

The Blockchain Will Do to the Financial System What the Internet Did to Media

Will Blockchain Technology Replace Cash?

INDIA: ‘RELAXED’ GOLD RULES COULD HAVE ‘WAR ON CASH’ EFFECT

Australian Government May Intensify ‘War on Cash’

As The War On Cash Accelerates, Governments Look To Bitcoin

Spain Joins World War On Cash, Bitcoin Emerges As Viable Alternative

You’re Being Dogged by the War on Cash

Why are governments in Asia suddenly interested in digital cash?

Six big banks to create a blockchain-based cash system led by UBS

Gold, Silver, Blockchain and Fintech – Solutions To Negative Rates, Bail-ins, Cash Confiscations and Cashless Society

Why Governments Want a Central Bank-Issued Digital Currency

Digital Currency Group forecasts war on physical cash

BANK OF ENGLAND RELEASES KEY PAPER ON DIGITAL CASH AND BLOCKCHAIN

Blockchain and the Power of Singularity

Money is a Neurotransmitter - and other red pills

Money Is Energy: Unblocking the Flow of Your Abundance

Why Elites Are Winning The War On Cash

The War on Cash in South Korea

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

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Comments

  1. Mark Ribbit says:

    Thanks Pye!
    You have told us where we are likely heading vis a vis cash and electronic currencies.
    Other than purchasing gold, do you have any other suggestions as to what we can/should do to protect ourselves
    from the change?

    • You’re welcome.

      Yes. If you must speculate – on bitcoin or otherwise – please do so cautiously. I.E. Have protective sell stops, puts, et al. in place to guard against volatility.

      • Andreas Hedqvist says:

        I would advise people to refrain from short term trading in cryptocurrencies, the volatility is outright dangerous. A better way is to research all the new technology companies that are starting in this space and invest small amounts in the ones you believe in. Two companies that I believe in have tokens called ‘SALT’ and ‘Populous’, the first intends to lend fiat currencies using cryptocurrency as collateral and the second intends to provide factoring services over the internet. Both of these services will allow any size enterprise to sidestep the established banking system and remove them altogether as middlemen and the current outrageous fees, delays and costs.

  2. Robert Diggins says:

    Thanks, Pye.

    I’d like to offer some constructive criticism, as I’ve seen a trend in alt-media of expressing the concerns you mentioned, while possibly muddying the waters, by conflation and omission of key concepts and facts on the ground. By no means do I think this is deliberate, in your videos. I’m going to make a short list of key words/concepts, as I don’t have time to parse what you said exactly.

    Privacy/Anonymity NOT necessarily tied to “digital”, but sounds implied
    Current digital fiat “cash”
    Eminent domain
    Deflationary vs Quantitative Easing
    Who creates USD? Who creates BTC?
    Why no mention of the ginormous interest we pay to private central banks for USD, which is avoided with BTC?
    The only chip I carry around is on my bank card.
    BTC hardware wallets, disconnected from the internet.
    What will the cops steal from you, when you aren’t carrying cash to buy a used car, and they suspect you are dealing drugs?

    IMPORTANT:
    During the recent run-up to a hard fork of bitcoin, which never happened, we see a coordinated push for a previously forked crypto, let’s call it BTRASH.

    During the recent run-up of BTC past 12k, who shorted the tech industry STOCKS connected to bitcoin mining, and then shorted bitcoin, attempting to pop the bubble?

    Why didn’t it work? Well it did drop to only twice what it was worth 2 months ago, but it’s now reapproaching 10k. The argument for less decentralization, in order to achieve faster transactions, lost. There is a culture of decentralization, which should not be discounted.

    So, in summary, there are similarities between cash and bitcoin. After all doesn’t each dollar bill have a serial number? But, the similarity is not in how they are created, whether they are inflationary or deflationary, and whether or not central banks loan us our own money at interest and control our economy with printers.

    When BTC is forked, or copied, it does not double the amount of BTC (you didn’t say this, but many are).

    I think it’s important to learn more and I appreciate your contributions.

    Thanks!

    • Thanks for your comments.

      It is indeed important to learn more. Yet the waters of said learning can in turn become ‘muddied’ by losing fundamentals to imposed jargon & abiding by assigned evangelism over this new quasi-monetary phenomena.

      “When BTC is forked, or copied, it does not double the amount of BTC”. Not as of yet, but there’s no tangible (read: physical) guarantee that it wouldn’t or couldn’t.

      Not like, well, physical, definitively finite gold and/or silver bullion, which demonstrably cannot be ‘conjured’ – digitally or otherwise, despite valiant historical alchemical attempts – out of thin air (or ‘ether’, as it were…).

      https://www.bloomberg.com/news/articles/2017-11-15/bitcoin-s-split-personality-problem-may-pop-the-bubble

      “Who creates USD? Who creates BTC?”

      Ultimately, the same authoritative establishment. In turn – and again – who/what creates physical gold?

      Point: Neither bitcoin, nor its splits, nor any of the myriad of other cryptocurrencies out there, are physical gold or silver. Nor will they ever be. Cryptos are, however, clearly & fervently aimed at replacing precious metals in the eyes of even the most sober of monetary historian.

      • Robert Diggins says:

        I like your sense of humor. LOL

        A couple things:
        1. I think fake gold bars are found from time to time, going back S far as gold as money does, probably, and certainly continuing to the present.
        2. Mainstream Cosmology is witnessing the death of so called dark matter. Hurriedly coming up with “we didn’t really need it” articles. It might just be that an ether comprises the vast majority of the universe. Not an esoteric ether. But, space isn’t an empty vacuum. Light and currents obviously travel through something. And we know those Northern Lights are plasma and come from the Sun. The ether, I think, is plasma, and charge is holding things together and apart out there, not the weak force of gravity, which needs impossibly dense “black holes “, because electromagnetism is never considered at long distances. Enter the Berkelund Current https://youtu.be/uKG7HFM21Qk (long time professor of electrical engineering at Amherst, Dr. Donald Scott explains them. You can skip the two minute introduction, if your ever interested and want to save two minutes.

        But we’regetting off course now 😉

        Thanks a lot for replying. Interaction with content producers at Newsbud, such as yourself, is valuable, no matter what else is.

      • Robert Diggins says:

        From your reply (quoting me and then adding your comment:

        “When BTC is forked, or copied, it does not double the amount of BTC”. Not as of yet, but there’s no tangible (read: physical) guarantee that it wouldn’t or couldn’t.

        I took a look at the article foe which you provided a link in that reply, and found this quote:

        “Of course, cryptocurrency converts will contend that bitcoin is not the same as bitcoin cash or bitcoin gold or any other variant, not to mention the more than 1,200 other digital currencies now out there. They are different, so there are still only 21 million possible bitcoins. And that is technically true. But bitcoin and its spinoffs are similar. And the closer they get in price, the more similar they become and the more overpriced regular old n,bitcoins look. That could let the air out of the bitcoin bubble.”

        I guess I don’t understand why you think that it is possible to create more bitcoin by forking it. The nature of this process creates a different coin, not bitcoin. As another member mentioned, the source code is open source and anyone can see it and fork it, if they wish. As the article mentioned, this does not create extra bitcoin. It says it is technically correct that there is a 21 million coin limit. (BTW, the smallest amount of bitcoin is called a Satoshi and is worth 1 10,000,000th of a bitcoin. That’s bitcoins “penny”.)

        The article and you seem to equivocate the new forked coin with bitcoin, which is a factual error. So, I guess I wanted to clarify that your statement:

        “Not as of yet, but there’s no tangible (read: physical) guarantee that it wouldn’t or couldn’t.”

        …doesn’t make logical sense to me (yet – I’m here to learn).

        The fact is that most USD is already digital. And none of us likes that system. Also, we know that they can and do track us to the nth degree already, they can already freeze any assets we have, they already block people in the 3rd world from sending and receiving money (which cryptos have alleviated to some degree), and it is we who cannot track those misappropriated tax dollars building mosques and madrassas, training and arming Al Qaeda recruits, getting payouts for selling state Secrets and running most of the heroin trade, etc. All done with cash. Really, how much worse can it get, because fear is the main message of your video. If they get crypto currency normalized, then they’ll really have us under their thumb. As if they don’t already.

        Meanwhile, no mention of sidestepping the federal reserve, and the cash we borrow from them.

        It also seems that you are upset and couching this as bitcoin vs. gold. Why not bitcoin and gold vs the USD?

        Also, who says that people won’t be able to carry some thing physical, using gold or bitcoin as backing value? Do most gold owners keep physical gold or a certificate I.O.U. for gold? And, a person only needs to memorize a password (of sorts) to access an anonymous wallet with crypto value. “Cash” could certainly be developed for BTC and gold/silver/etc.

        Finally, nobody’s hands are clean, when it comes to the precious minerals/metals. From blood diamonds to the yellow medicine that makes white men crazy, to the untold deaths of native slaves in South America, there’s blood on all money.

        I actually don’t think I can get any more afraid of a system of control. It’s already here.

        And, in fairness, at least a few of the benefits of crypto currency should be mentioned, IMO.

        It’s definitely a good topic to bring up and I thank you for that. I really want to know more, but the factual issues noted above (about what forked BTC is – mostly worthless, and definitely NOT BTC, as stated in your reference article. )

        The culture of decentralization, in the BTC community, should not be ignored either. Is it truly just a bunch of gaslighting, to get us used to a system of control, that isn’t here yet? I’m not so sure.

        Thanks again. I don’t expect you to spend more time with me, and I really do appreciate your responses thus far. Just hoping you’ll consider these points.

        • [The article and you seem to equivocate the new forked coin with bitcoin, which is a factual error. So, I guess I wanted to clarify that your statement:
          “Not as of yet, but there’s no tangible (read: physical) guarantee that it wouldn’t or couldn’t.”
          …doesn’t make logical sense to me (yet – I’m here to learn).]

          Ultimately, I’m stating that cryptocurrencies are just as, if not more, conjured out of thin air than are modern fiat currencies, yet with the added factors of heightened auditability, trackability, etc. Hence, what you wrote in follow-up regarding all that ails the fiat world … would be exacerbated exponentially under a crypto/blochckain world where *the means of said trackability are more clandestine than they are currently under a nascent digital fiat regime* (hence begging questions over why these extra layers of development are necessary).

          The supposed transparency & ‘freedom’ issues ascribed to cryptos are mass marketing, as cryptocurrencies must be sold to the global public through speculative spectacles, followed by gradual, wider systematic infrastructural & corporate adoption methods, so that people ‘will be fine with’ cryptos being the new ‘money system’ in general.

          The most effective Tyranny is sold as the greatest means of Liberation, millennia running.

          “It also seems that you are upset and couching this as bitcoin vs. gold. Why not bitcoin and gold vs the USD?”

          Because – and again – bitcoin is a purposeful, tactical distraction away from finite, tangible physical gold & silver, which have served as “money” for millennia precisely because of their rare qualities. The gold price should be well north of $10,000/troy oz., based on the core economic fundamentals of gold-to-fiat derivatives ratios which are conspicuous. Yet because gold is rare & hoarded by governments, its price is therefore tactically suppressed.
          Meanwhile, bitcoin – again, a clearly purposeful distraction from gold – is, in turn, strategically run up to $10,000/btc by the Deep State so that you feel like you’re ‘missing out’. Bitcoin’s price movement upward is much more so do to algorithmic, block & darkpool trading than it is due to either household or even institutional buying. That alone should concern sober observers over other means deployable, for purposes of mass perception management alone, with regard to its underlying technology…

          “I really want to know more”

          As do we all, clearly. Mine is foremost a blunt perennial inquiry into *what’s actually going on, versus what’s being predominantly reported*, as is I guess any of my colleagues’ quests on Newsbud. We need technological vigilance with regard to the cryptocurrency & blockchain issues vis-à-vis wider political control issues, as we do the marriage of history & philosophy with said technological prowess, for the sake of a clearer sense of ethics, if nothing else. Thus keep reading, consider learning how to code, do everything in your power to know the truth of the matter.

          • Robert Diggins says:

            Great response. Especially the last paragraph. 10-4.

            I’ll just add another thanks for all the interaction.

          • Imran Esmail says:

            Hi Pye Ian. Should we seriously consider how to code ? As a means of finding a profession and livelihood? Would you recommend learning in a formal setting, or through online means like edX or something ? I feel every unmotivated to engage in finding some kind of formal job.. Rather i find myself romanticizing of joining some sufi order lol.. and unveiling myself to the metaphysical realties around us. a foolish dream i know.. My life of comfort has allowed me sit ideal and only work on removing my falsehoods and move towards clarity and truth. Its nice reading those like Guenon and Nasr, who show such value towards contemplation and self reflection. But I feel its time I start working towards some career goals..

      • “When BTC is forked, or copied, it does not double the amount of BTC”. Not as of yet, but there’s no tangible (read: physical) guarantee that it wouldn’t or couldn’t.

        Well actually Gold can be transmogrified from Lead or Bismuth using a particle accelerator however the energy costs are way more than the current value of Gold produced from it. Ironically it is the same thing that protects bitcoin – the cost of the energy to do the mining. So Gold and Bitcoin are protected by the same mechanism really.

  3. What will the cops steal in a cashless world? They will forcce your relevant body part on a biometric reader and plunder your cubits that way. Or just take goods in lieu.

    When did Man decide gold was valuable and how did he know to use arsenic to extract it?

    Nothing is inevitable.

    • Robert Diggins says:

      I agree with your sentiment and characterization of corrupt, centralized power.

      It might be useful to examine this issue in the frame of the “gun debate”, since we are talking about tools. Does crypto kill gold or do people kill gold?

      Personally, I have no desire to kill gold or silver, even though the mining of said metals has been impetus for countless slave deaths and broken treaties in this hemisphere. In the excellent book, Indian Givers: How the Indians of the Americas Transformed the World, by Jack Weatherford, the author explains how the vast amounts of Silver mined in South America allowed the common people of Europe to start using coins as money. With gold, that had been limited to the wealthy.

      Thanks for the reply!

  4. David E Burden says:

    Thanks Pye,
    Once again you have reaffirmed my faith in my previous decision.
    “If I can’t hold it in my hand, I’m not buying it.”
    I’m an old fart now, so I have seen many many scams come and go in my lifetime. Pet Rocks come to mind. I feel blessed to have had a decent sense of right vs. wrong, along with a healthy dose of common sense. Taught by my maternal grandfather, who was born in 1900, and thus lived through some hard times, including “The Great Depression”. Between him, my grandmother, (his lovely wife), and my own mother, they taught me to always be frugal, and beware of that which seems ‘too good to be true’. As it usually is.
    You are one of a plethora of reasons I feel fortunate to be a member of this wonderful Newsbud community.
    Thanks again for all you do Pye, especially the videos.
    Stronghorse

    • Thanks for your kind words, David.

      Your age & experience are assets, rather than otherwise, in lending discernment to the very nature of what “money” means, or should mean.

  5. Robert Diggins says:

    Do you think there will be any short/medium/long term benefits from blockchain/ethereum based replacement for social and media sites, specifically related to making censorship more difficult and/or less centralized?

    Will any of that be realized, in your opinion?

    Thanks,
    Robert

    • Robert Diggins says:

      Here’s a prescient tweet by the creator of ethereum, regarding my question above. Seems to have his doubts and also seems fair and not stuck in the mud of his convictions.

      https://twitter.com/VitalikButerin/status/936780134836609024

    • Andreas Hedqvist says:

      Good question. We are already seeing alternatives to google, facebook, youtube etc. pop up due to these near monopolies’ attempts to censor and hide what clearly is political free speech. The funding issue is being addressed by alternative new advertisement companies that will open up new revenue streams for these new services. Remember that a democracy cannot function without a free and open press and public discourse. I am actually stunned at the blatant dictatorial and tyrannical actions taken by these internet giants because it should be obvious even to them that this is a battle they cannot and should not want to win this way. I guess we are seeing the beginning of the shift into a new age and we have to live through these choppy waters while the old and corrupt structure is being replaced by the new one. May we live in interesting times.

  6. Andreas Hedqvist says:

    There are a lot of misconceptions about cryptocurrencies and I think statements attempting to associate them with nefarious intelligence agencies etc. is not only misplaced but misleading. We don’t know who Satoshi Nakamoto is/was but it doesn’t matter because the technology is open source and fully in the public domain. The blockchain is designed to be decentralized and entirely market driven which is proving to be both robust and safe. It is the antithesis to central banking and represents a viable alternative to fiat currencies.

    Most people do not understand how our current monetary system really works and that is obviously intentional. Fractional reserve banking and all the derivative concoctions all based on speculation combined with government financing using ever growing borrowing from future tax payers is nothing but fraud. It is easy to understand how wars could not be financed without this fraudulent system. It is equally easy to understand how this debt based system cannot continue without imploding under it’s own weight, it is in essence an enormous game of musical chairs.

    As an engineer without macro economic schooling I still realize that many economists fail to see what is at the very core of a sound and vibrant economy – the velocity of money. Sure, inflation and interest rates do matter but they are secondary to having currency circulate quickly and perform the main functions which are to transfer work/effort and to allow temporal storage of wealth. Precious metals fulfill the second function but cannot efficiently perform the former. When cryptocurrencies directly coupled to gold and/or silver arrive I predict they will become the currency of choice for present day gold and silverbugs.

    The abolishing of cash is only dangerous as long as everyone or most people are stuck in our current bank centric system. Once we move into the endless cryptocurrency world this danger will be sidestepped and no longer matter. I think it’s worth pointing out that we should and probably will role out open blockchain solutions eventually for many government activities which will force honesty and transparency. This can be revolutionary in reducing corruption and cronyism and I foresee how these positions in the future will be inhabited by a totally different set of people who are not like the criminal predators we see today. Imagine national and regional elections performed using open blockchain methods – goodbye Diebold memory card consultants.

  7. clarkmontanaterritory says:

    Well done Pye, you have brought the Bill and Melinda Gates Foundation & their eugenics leanings into the conversation! Someone has eyes that see. So, where does the Hegelian dialectic come into play with this so called global economic switch from cash too full on cashless cryptocurrency society?

    I agree with what David E Burden said above about being frugal, using common sense, & knowing right from wrong. I am also a believer that barter is part of the solution as is retaining the skill sets of self sufficiency, like growing your own healthy food and knowing how to live off of the land in general. Liberty gardens trending upwards soon?

    • David E Burden says:

      Agreed clarkmontanaterritory. In my little town, we already use barter as often as we can. We also grow and preserve our own healthy foods, and most of us hunt and process our own meats. Many more raise their own meats, as we are right in the middle of “Farm Country”.
      In fact, many of my neighbors are Amish. While I don’t share their religious beliefs, they are good neighbors, and valuable assets as far as being hard workers and being very proficient at living off the land. I might, for those who may not be aware, that they shun electricity, automobiles, TV, and other “Modern” conveniences. Yet their communities thrive.
      Being part American Indian, and living my life as much as possible in the old ways, I also shun many of the “Modern” conveniences, so I suppose it is fitting that I get along well with them. Though obviously I do make use of some modern things, such as the internet and internal combustion conveyances, but I don’t do TV, or any kind of social media except for Newsbud and a few other select sites. No Fascistbook, no Smartphone, and I swear that I have never in my life, “Tweeted” at anyone. And never will.
      Many of the “Modern” conveniences can be valuable assets, IF you don’t take them to extremes, and thereby become too dependent upon them. When it gets to the point that you walk out into the path of an oncoming bus, and don’t even realize it until it’s too late, or dangerously close to too late, simply because your full and complete attention is consumed by an electronic device in your hand. Then it is time to wake up to the real world that is all around you, before that bus makes you into a nasty stain on the pavement. “Talking” to people, should not require the use of thumbs. It SHOULD involve face to face verbal contact. IMHO
      Best of luck to you, and everyone within our Newsbud Community.

      Stronghorse
      AKA: David

  8. Joanie Detlefsen says:

    Excellent explanation in easy to understand laymen language of what it’s all about. I have been following Bitcoin since its inception while trying to untangle what happened and what was done to the normal business practices of Wall Street when they made their dramatic steal. Of course I thought it must be a good new thing but I actually never could grasp a good entry point to buy some. Every time I thought this is a good time, a hiccup occurred so I just kept watching and reading. For the longest time I begged the elections board to use blockchain technology for voter security and privacy because it would prevent fraud. I am not sure about that any more.
    Particularly odious about using India to experiment on, besides GMO agriculture, is their culture of a caste system. The whole India as a world power when Bollywood type players like Ivanka Trump go sexualizing a women’s entrepreneurship forum in a nation of so much rape and acid in faces of women is total cognitive dissonance. I feel sorry for the India population.
    I am very grateful to have a better understanding of the crypto-currency hoopla which has recently been decided to float as an investment tool, not a store of value as it started out. I guess going with derivatives for a market steal again is too over the top for the bankers.

  9. Mehdi Krit says:

    Great show. Thank you

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