Could Bitcion Become the Digital Replacement For Fiat Currency?

According to their website, Bitcoin is “an experimental new digital currency” that uses “peer-to-peer technology to operate with no central authority.” It is through open source software that Bitcoin can operate. This alternative currency was created by an anonymous person calling themself Satoshi Nakamoto.

As with most incremental changes in our society, the move to cashless transactions has been mostly voluntary. Nearly every business offers the use of debit and credit cards in lieu of cash to pay for products and services. As the digital takeover becomes common place, Americans are unwittingly acquiescing to the furtherance of the cashless society. With this move come dangers that are not discussed in the mainstream. Cashless transactions are glorified, without the dark side brought into the social meme.

The illusion is that this digital currency can allow any “two willing parties to transact directly with each other without the need for a trusted third party”; however while based on the collective control of computers, a “chain of digital signatures” and a “trusted central authority” to keep the monetary system from relying on printed fiat.

According to Deutsche Bank analysts Daniel Brebner and Xiao Fu, gold is “not really a commodity at all.” Berbner and Fu explain: “While it is included in the commodities basket it is in fact a medium of exchange and one that is officially recognized (if not publically used as such). We see gold as an officially recognized form of money for one primary reason: it is widely held by most of the world’s larger central banks as a component of reserves.”

Gold is deemed “good money” and fiat currency is represented as “bad money” because the central banking cartels confuse the worth of paper over precious metals to keep the populace in the dark as to currency value to claim a monopoly over worth and circulation as well as hoard precious metals for consumption purposes.

This digital currency can replace traditional financial “gatekeepers” such as the banksters. In order to install a new monetary scheme, the technocrats will have to implode current forms of trade.

In May, The UN Conference on Trade and Development (UNCTAD) has issued a report that proposes that the current system of world currencies and capital rules that govern the world’s economy need to be altered in order to stabilize our economic crisis.

UNCTAD wants to see the BRICs countries, known as the non-aligned nations, considered surplus nations, cut their imbalances, thereby taking the financial burden off of the UK and US as upholding the global reserve currency. A global monetary system that replaces the US dollar as the global reserve currency will accomplish this goal.

“Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability,” said Detlef Kotte, one of the report’s authors. “But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund.”

Bitcoin has had a difficult road as it endeavors to become a replacement digital currency. The mainstream propaganda has been mostly quiet about this crypto-currency. They are still dependent on the stock market for value, yet the volatility of this fact adds to the risk factor and inspires investors. Based on the bartering of commodities, Bitcoin can be used to purchase actual items, traded for fiat currencies like the Euro and the US dollar, and be traded for goods and services.

The trendy appeal of Bitcoin makes it a perfect addition to a society transitioning into the digital era. There is no actual transfer of fiat currency or precious metals which alleviates the necessity of traditional banking. The only worry would be takeover of the internet – which gives Bitcoin the promise toward one world currency that the global Elite have been looking for.

As a global currency, Bitcoin provides:

• No adherence to national borders

• Creation through predictive software called Mining

• Transactions are anonymous

The built-in control aspect of Bitcoin is that they are created by the Mining software which ensures that someone is overseeing how many Bitcoins are in existence – or will ever be in existence.

The Bitcoind program is under licensing by MIT, the globalist-controlled think-tank college.

Elite ideology is taught with books like “Localism Versus Globalism in Morphology and Phonology” that expresses the move in human development from locality to globalism in language, non-verbal communication and the positive effects of this evolutionary shift.

Lester Thurow, professor of management and economics at MIT since 1968 is a self-professed globalist that believes in the redistribution of wealth for the sake of stabilizing the economy. Thurow’s reach extends to having served on the Editorial Board of the New York Times, contributing editor for Newsweek Magazine and a respected member of Time magazine’s Board of Economists. He has also had an influential hand in other publications such as the Boston Globe and USA Today.

The technocratic push toward cyber currency or e-money, is a march toward complete control over global currencies with the development of supporting technologies and the distribution of such that facilitate an online representation of money that can be used for exchange with another fiat system. Most attempts to create an encompassing digital currency has failed before their time because of their dependence on other established monetary schemes. Digital money like Bitcoin has a built-in manipulative mechanism that allows the currency to be traded multiple times without ability to verify this fact unless an interested party is monitoring the transactions of the particular coin.

Bitcoincauses legal issues such as potential violating securities laws, the Stamp Payment Act, facilitates tax evasion and money laundering and well as compromises consumer protection.

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