Cryptocurrency and Blockchain Mass Adoption Amidst A Wider Financial Crisis

Major financial news outlets, past heads of the US Fed & Treasury and central banks are at this point not so quietly warning about not just an approaching recession, but quite possibly another global financial crisis.  From the Bank for International Settlements – which is the central bank to central banks – to Ben Bernanke, Hank Paulson, Tim Geithner & Alan Greenspan, to the Financial Times, Wall Street Journal & their imitators, essentially tacit confirmations of regulatory failures to fully recover the economy from the 2008 Financial Crisis are being politely put forward to an increasingly nervous, war-weary public.  Yet no credible preventative solutions are being proffered; only admissions that the next crisis will be much harder to cope with because most of the available policy ammo was used up in fighting the prior crisis a decade ago.

Instead, large and small financial institutions and even central banks are putting their capital and efforts into adapting cryptocurrency and blockchain protocols, considering that the latter aren’t fads or ephemeral phenomena, but rather future technocratically-mandated global platforms for value ledgering and transfer.  I.E. an “Internet 2.0” in size, scope and significance, yet this time with regard foremost to ‘money’ instead of simply the velocity and perceived sanctity of information transference.

In this 35th episode of Money & Fear, and as always, in the program’s cited Show Notes listed under the videos on our website, we’ll explore both trends while arguing that they are concurrent, with the accelerated rollouts of crypto-blockchain covenants meant to provide wider eventual resolutions for inevitable fiscal cataclysms resulting from inestimable debt bubbles bursting, and by design.  The blockchain as an esoterically prescribed trust & security Solution in the ongoing Hegelian Dialectics which have presented persistent Problems and Reactions in the financial and economic spheres for decades.  Centuries, even.  And why, ultimately?  To assist in achieving the wider, yet equally technocratically critical, Singularity between biology and machine.

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Show Notes

How Blockchain is overshadowing Bitcoin

The level of global debt concerns me

4 Financial Savants Warn About The Great Crash Of 2020

Get Ready for the Next Financial Crisis

What Will Trigger the Next Crisis?

Is the next financial crisis already brewing?

The dollar is central to the next crisis

ECB warns of risks posed by shadow banking sector

Bloomberg Quicktake - Shadow Banking

Goldman's Bear Market Indicator Shows Crash Dead Ahead, Asks "Should We Be Worried?"

Blockchain Consolidation Phase Is Imminent, Hyperledger Chief Says

While Bitcoin Is Down, Big Players Continue To Pour Money And Faith Into Blockchain

Blockchain's potential will continue to spur public and private investment

Blockchain technology being considered by more than half of big corporations, according to study

Institutional Investors Are Using Back Door for Crypto Buys

Dark Pool Traders Look to Stay in the Shadows

The Assassination of Bitcoin

OF COURSE Bitcoin is Manipulated

Blockchain: Growth Rate and Hype Cycle

Goldman Sachs Launches US Dollar Coin (Fedcoin). Coinbase To Become The Crypto Regulatory Agency

USD Coin – Circle.com

INTRODUCING USD COIN 0- A stablecoin brought to you by Circle and Coinbase

Goldman Sachs-backed start-up Circle introducing a crypto version of the US dollar

Is Cryptocurrency the New Fiat Money?

Coinbase Says It Won Approval for Trio of Acquisitions

IRS Notification regarding Coinbase

Federal Reserve Controls Coinbase, Coindesk, Kraken, Ripple …

Federal Reserve starting to think about its own digital currency, Dudley says

An AUD-pegged stablecoin is coming to Australia with Bit Trade

LBX Launches LBXPeg, the First GBP-Collateralized Stablecoin

Blockchain Adoption by Major Companies in the Works: A Brief Review

EQIBank the World's First Licensed and Regulated Offshore Bank for National Currencies, Crypto and Digital Assets has Launched

EQI Bank

Is 2019 the Year in Which Crypto Finally Gets Connected to the Global Financial System?

Brad Garlinghouse, Ripple’s CEO, Predicts Banks to Become Crypto Custodians In 2019

Italian banks’ blockchain project picks up pace

European Bank Failures: When Do They Go Globally Systemic, and Who Decides?

Systemically important financial institution

What of Deutsche Bank and Europe's Other Banks?

Gazprom Banking Department Announces Launch of Crypto Trading Service for 2019

Former UBS bankers to set up regulated crypto-bank

Marc Rich Obituary – The Economist

THE ONLY REGULATED BITCOIN EXCHANGE IN GERMANY WILL BECOME A BANK IN 2019

4 Lessons About Lehman, And The Subsequent Meltdown In Global Markets

Solutions without Historical Templates: Cryptocurrencies and Blockchains

VITALIK BUTERIN ASKS: DOES ROTHSCHILD CONSPIRACY THEORY EXTEND TO CRYPTO?

Blockchain will free you from the tyranny of the global liberal elite - FT

The Global Elites’ Secret Plan for Cryptocurrencies

Cryptocurrency Might be a Path to Authoritarianism

Did A 1988 Economist Magazine Predict A Bitcoin Explosion In 2018?

Is Bitcoin Dead?

Will 2019 be the Year of Bitcoin?

Institutional Investors Step Up Investments in Cryptocurrency Market

How Artificial Intelligence Could Kill Capitalism

Globalists Are Telling Us Exactly What Disasters They're Planning For The Economy

 The Big Challenge Facing BlockChain Adoption in the Finance Sector

Papers

Global Shadow Banking Monitoring Report 2017 - 5 March 2018 – F.S.B. / B.I.S.

HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH – NSA Paper, 1996

Books

Who Owns the Future? by Jaron Lanier

TRANSHUMANISM: A Grimoire of Alchemical Agendas by Joseph P. Farrell & Scott D. de Hart

COLLUSION: ow Central Bankers Rigged the World by Nomi Prins

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

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Comments

  1. Kit Lofroos says:

    Pye- I do appreciate your discussions. I need to listen to them a couple of times ’cause I’m just not that smart when it comes to these topics, but I enjoy your insight in to the SIngularity fantasy that pervades and informs this stage of life as it is spoon-fed to us.
    I chose Biology cause nature bats last.

  2. What a superb documentary!! I’m at the cro magnon level. I shall soon become obsolute.

  3. Thank you both, Kit and Edward. “Nature bats last” nails it all 😉

  4. Jeff Martin says:

    It seems the world Banksters see the end is near. So they have to have a total stranglehold on EVERYONE’S financial business. And of course, their criminality must remain hidden. Opacity, indeed!

    I remember about two years ago when Jaime Dimond said something very close to: “Crypto-currency! It’s goin’ ta get somebody killed!”

    The Banksters understand that a metals-backed currency makes everyone a winner, except them, of course.

  5. Mark Ribbit says:

    Great show as always Pye!
    Unfortunately however by the end, I was left
    with more questions than answers.

    I’m hoping you or someone else can answer them.

    I had understood the popularity of cryptocurrency was due
    to its opacity in nature.

    Surely if the big banks are getting into the cryptocurrency action
    they will by default ensure that opacity is removed from their systems?

    Doesn’t this defeat the whole purpose of cryptocurrency, essentially taking the crypto out
    of the cryptocurrency?

    And if the U.S. D-Coin will be essentially the same as the $U.S. dollar why change it?
    It can’t be to move away from the paper dollar, because you can do that without starting a new currency.

    • The popularity of crypto’s were/are due to their perceived transparency, security and scarcity in nature. Key word: perception. They are thus essentially billed “as good as gold” in said contexts of traditional numeraires.

      Big banks getting into them infrastructurally is indicative of necessary opacity, and that they’ve been planned for the medium to long term as replacing – or at the least, directly augmenting – fiat currencies.

      The US dollar is against the ropes and will continue to weaken in light of unprecedented debts, limited tools by the Fed, wider political pressures and foreign challengers to it. TPTB knew that the fiat-hijacked dollar would have a relatively short shelf life (versus centuries), hence the 30+ year saga of planning/building the crypto platform clandestinely.

      I’ve done multiple past shows – all heavily cited – on Newsbud devoted to crypto’s & the blockchain. They provide further requisite details.

      Happy Holidays otherwise, p

  6. Theo Iskra says:

    Pye, I recently read an article on CommonDreams where the author, Dean Baker, claimed that a recession is not imminent, and an increasingly rising debt is of no concern. He noted that when and if the stock market falls, only the rich people, meaning the people who have a stake in the market, are affected. What is a good counterargument to his claim that the recession is not imminent, and how does the Fed’s shenanigans eventually affect the greater populace at large? Also important to note, he says that the raising of interest rates will only lead to the crowding out effect, and that the current administration is not poorly preparing us for the next recession, as it is not imminent.

    • Steven Hobbs says:

      Hey Theo,
      IMHO, Dean Baker is indeed a great resource for national economic news. It does not seem his opinion is in conflict with Pye’s as they speak of different domains from different perceptual filters. Pye’s comments seem to only indirectly speak to stock market concerns but more directly speak to the underlying economic system of exchange and the “objects” of exchange.

    • Pye, I recently read an article on CommonDreams where the author, Dean Baker, claimed that a recession is not imminent, and an increasingly rising debt is of no concern. He noted that when and if the stock market falls, only the rich people, meaning the people who have a stake in the market, are affected. What is a good counterargument to his claim that the recession is not imminent, and how does the Fed’s shenanigans eventually affect the greater populace at large? Also important to note, he says that the raising of interest rates will only lead to the crowding out effect, and that the current administration is not poorly preparing us for the next recession, as it is not imminent.

      Thanks for your comments and regrets for the late reply.

      Theo, that’s rather odd prose from Dean Baker, who in the past was ringing debt alarm bells – the same bells which, in my view, remain germane to *structural*, rather than merely cyclical, faults plaguing the economy domestically & certainly abroad.

      http://cepr.net/publications/reports/dangerous-trends-the-growth-of-debt-in-the-us-economy

      Baker’s August 19th, 2018 column skips over systemically dangerous realities involving derivatives, shadow banking & dark pool risks which helped fan the flames of the ’08 Crisis that he reviews in the piece. Those risks have heightened, as have wider debt concerns – no, not necessarily within the housing sector as with 2004-2008 – but with practically everything else (student & consumer debt, Fed-fueled stock buybacks not reflecting firms’ fundamentals, deployed junk bonds alone, etc.). Hence why Treasury Secretary Mnuchin called both the CEOs of America’s 6 largest banks *and* leading PPT regulators from his Mexican vacation last week in order to be assured of debt issues, and why they collectively intervened in pumping the indices going into year-end.

      IMV, Baker’s not relying upon sober metrics in downplaying the risks of an ’08 reprise, which, again, I argue are ultimately designed (see the latest episode, released today).

      The irony of his piece rears with his final sentences:

      “Virtually the entire economics profession and business media completely missed the warning signs for the crisis in 2008. Ten years later they still don’t seem to have a clue.”

      Thanks again.

  7. Gregory Hofmann says:

    @ 9:00: centralized (currency) vs decentralized (money).

  8. Steven Hobbs says:

    Hey Pye,
    Happy New Year!
    Thank you

  9. Astraea Shaw says:

    I hear that Trump is advocating “Buy the dip.”
    As for what you have said about Bitcoin, what I understand (not much!) is that so long as you do not buy Bitcoin through an ETF
    you can still buy Bitcoin which is free of any manipulation or interference?
    I HOPE so.

  10. I caution against any/all speculative ventures in the crypto space, Bitcoin included, especially considering its manufactured stratospheric rise & subsequent “price” take-down over the past year.

    That said, such price ‘management’ by large pumpers doesn’t mean that cryptos, nor certainly the wider, deeper distributed ledger technology, are somehow going away or will be marginalized in global finance. Quite the opposite, and said schemed volatility is designed ultimately to maximize familiarity & harness eventual wider adaption.

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