Role of Crypto/Cybercurrencies in the PTB's loss of control?

dredger

Jedi Council Member
Seems that China does not like cryptos :

I prefer the following article, in french, on strategika51 :

Here's its traduction :
The People's Republic of China has just struck a blow to the concept of cryptocurrencies. The Chinese central bank has just banned all cryptocurrencies on Friday, September 24, 2021. All cryptocurrency transactions are now illegal. This announcement is already starting to have a negative effect as in just a few hours, all non-fiat virtual currencies have seen their prices plummet.
"Trading activities related to virtual currencies are illegal financial activities" Chinese Central Bank"
The die is cast.
For Beijing, it remains clear that crypto-currencies are an immanent, "trivial" and insidious danger that must be guarded against as soon as possible. China therefore wants to get rid of them.
There are clear indications that China's attitude towards crypto-currencies will be followed by Moscow, Tehran and other member countries of the Shanghai Cooperation Organisation.
Bitcoin and other crypto-currencies are seen as more elaborate tools of a new Ponzi scheme by Chinese analysts.
For the latter, a possible outcry from the transnational financial system following this decision could mean that crypto-currencies are tools created ad nihilo by the special services and more particularly the CIA with the objective of continuing the previous generation of financial and monetary warfare against the former USSR and its allies and the 360° hybrid war of the 2000s and 2010s.
This Chinese decision therefore has a double objective, including that of flushing out the origin of these crypto-currencies that urban legend attributes to a fictitious and enigmatic character called Satochi Nakamoto, which is more akin to a code name for a large-scale clandestine operation than to the ghost of a Japanese genius inventor who is as fictitious as the character in James Bond.
 

Mike

The Living Force
FOTCM Member
I think banks like Bank of American know that crypto is really their competition and could cause them real problems in terms of leading people away from banks in general and are going to try to adapt to the situation in order to try to survive, since it is my opinion that crypto can't easily be stopped and also that some portion of TPTB don't want it stopped. Seeing what a full high level research team from a bank puts together about crypto might save a person time in terms of seeing and understanding the broader perspective of the mainstream on crypto and also for a person's general learning and understanding about crypto. I will be skimming this report from B of A at the very least.


Here is a link to a PDF of the report - https://research1.ml.com/Archive/12..._=1633442765_ef2dfef2d2baf8fff92c4cdbcf22c503

Connected to these thoughts are that B of A might also see that the FedCoin (US CBDC) could possibly also put them out of business or at least make them make significant adjustments to what they do and how they do it, if the Fed directly interacts with people and not through the banks as an intermediary as mentioned in this article and quote. Fwiw.

Some more compassionate proponents of a FedCoin argue it could create a kind of "parallel" system where the Fed would be able to directly and easily dispense FedCoins to the public (the ideal of "helicopter money", finally achieved), without relying on banks or the IRS as intermediaries, which could make delivering this type of aid faster and cheaper. It could also offer a more "efficient" avenue for distributing welfare or financial aid (that is, unless the Fed chose to distribute FedCoin through financial intermediaries instead of sending them directly from the Fed to the American people.

 

bjorn

The Living Force
FOTCM Member
I don't think they want to get rid of crypto but are seeking ways to get it under their control. Anyhow a crash is bound to happen. But that counts for all things.

I don't mean to say that people should get out of crypto right now. But perhaps jumping ship and turning it into FIAT for a while before getting back in crypto might be a good plan. Considering a market crash of 40/60% might be possible. Timing is everything here.
 
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