How central banks intend to fight CryptoCurrencies

https://smaulgld.com/central-banks-fight-cryptocurrencies/

As cryptocurrencies, which trade outside the banking system, attract more capital, governments and central banks are devising ways to try and stop and or control their rise.

In “Cryptocurrencies Fiat Killers or Strengtheners” we noted how some Ethereum projects aim to make blockchain assets spendable through the banking system via connecting them to Visa and Mastercard.

In “Bill Would Require a Declaration of Digital Currency Holdings at the Border” we noted that the US Congress has tasked the U.S. Secretary of Homeland Security and Commissioner of U.S. Customs and Border Protection to devise a plan to stop the flows of cryptocurrencies into the country.

Last week, at the Bundesbank Policy Symposium, in a speech entitled “Frontiers in Central Banking – Past, Present and Future” Dr Jens Weidmann, President of the Deutsche Bundesbank and Chairman of the Board of Directors of the Bank for International Settlements gave a speech outlining some ideas on how to best address the challenges that cyrptocurrencies pose to central banks.

After explaining that central banks are creatures born of crisis in that they are designed to come to the rescue when there are financial crisis, Dr. Weidman, noted that market interventions by central banks often provide financial stability, but not with out creating additional risks.

Towards the end of his speech, Dr. Weidman remarked that policy intervention may be required, not to address a crisis, but to address technology. Digitalization has the potential to provide financial benefits to the economy, with the risk, however, of disintermediating central banks. As such, the ability of central banks to conduct monetary policy diminishes proportionally to the increase in digitalization.

Dr. Weidman dismisses the notion that privately issued digital currencies may eliminate central bank currencies, reasoning that “central banks are better able to deliver price stability than a rigid monetary rule or an algorithm.”

Therefore, one consideration might be that the central banks themselves would issue their own digital currencies- something that the central banks of Russia and China are considering. If central banks created digital currencies it would make those holding their liquid assets in the form of central bank digital currencies safer from bank solvency issues and the public would have greater protection because “central banks cannot become insolvent.”

Dr. Weidman notes that in times of crisis, money holders would withdraw their bank deposits and transfer them into the official digital currency, thereby rapidly withdrawing liquidity from the private banking sector in a digital bank run.

Without deposits, Dr. Weidman observes, banks could not make loans.

———-

“the US Congress has tasked the U.S. Secretary of Homeland Security and Commissioner of U.S. Customs and Border Protection to devise a plan to stop the flows of cryptocurrencies into the country.”

why the fear? 🙂

“Without deposits, Dr. Weidman observes, banks could not make loans.”

thats incorrect..

“Dr. Weidman remarked that policy intervention may be required, not to address a crisis, but to address technology. Digitalization has the potential to provide financial benefits to the economy, with the risk, however, of disintermediating central banks.”

so the fear is really that central banks lose their monopoly..

401

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~ by seeker401 on June 29, 2017.

54 Responses to “How central banks intend to fight CryptoCurrencies”

  1. THE GERMAN SIDE OF THE STORY.
    If you will turn to the article on banking in the 1929
    edition of the Encyclopaedia Britannica you will find that
    this authoritative work of reference states that the
    modern German banking system was established after
    the revolution of 1848. If you turn to that equally
    reputable English periodical, the London “Spectator,”
    you will find in its issue of October 16, 1920, a leading
    article in which it points out that the revolutions which
    occurred in Europe in the year 1848 were led by Jews,
    just as the Bolshevik revolution in Russia in 1917 was
    led by Jews . Thus we get the position that a banking
    system which (as we shall see) has made Jewish bankers
    supreme in Germany was established following on a revolution
    led by Jews . This may be a coincidence, or it
    may not.

    The Truth About The Slump By A. N. FIELD

  2. How central banks intend to fight CryptoCurrencies .. THEY DON’T

    NWO, Communism & the Kahal

    While we may enjoy temporary prosperity, 
    history suggests our Masonic Jewish masters
    still plan to confiscate our wealth. 

    “The possessions of the goyim are like an ownerless desert, and everybody [every Jew] who seizes it, has acquired it.” – Babylonian Talmud, IV/3/54b

    “Our goal is to gradually absorb the wealth of the world.” – Cecil Rhodes, a Freemason.

    “THE KAHAL”

    Brafmann’s book was based on a thousand internal documents of the Kahal. Its most startling revelation:

    The Kahal followed the Talmudic prescription that Gentile property is a “free-for-all” for Jews who, for a fee, are pre-authorized by the town council (“The Kahal”) to finagle it. Obviously a source of anti-Semitism, this may explain the true predatory nature of Communism (and the New World Order)  behind the idealistic-sounding window dressing.

    For example, Brafmann, whom Jewish historians refer to “an informer,”  explains Jew “X” buys the rights to Gentile “Y”‘s house.

    “He has acquired ‘khazaka’ i.e right of ownership over the house of gentile “Y,” in force thereof he is given the exclusive right , guaranteed from interference or competition from other Jews, to get possession of the said house…’by any means whatever.’  

    “Until he has finally succeeded in transferring it to his official possession, he alone is entitled to rent that house from its present owner, to trade in it, to lend money to the owner or to other gentiles who may dwell in it-to make profits out of them in any way [that] his ingenuity may suggest….”

    The second part may provide a model of how Gentiles were exploited by a Jew.

    According to Brafmann, the documents “show as clearly as possible in what way and by what means the Jews, notwithstanding their limited rights, have always succeeded in driving alien elements from the towns and boroughs where they have settled, to get into their hands the capital and immovable property in those places, and to get rid of all competition in commerce and trades, as has been the case in the western provinces of Russia, in Poland, Galicia, Romania…”

    Selling alcohol and money lending were ways to finagle property. The Jewish vodka dealers would  show up at harvest time and sell alcohol to farmers on credit. Before long the drinking habits of the peasants and compound interest combined to transfer the property and future harvests into the vodka dealers hands. (See  E. Michael Jones, “Russian Roulette” Culture Wars, May 2006, p. 24.)

    A REVOLUTIONARY WAY OF STEALING

    Fifty years after “The Kahal” was published, Christian civilization in Russia was brutally destroyed by the Bolshevik Revolution which was a front for the Illuminati Jewish bankers.  The salient aspects of this revolution, apart from the imposition of a ghastly and depraved police state, was the confiscation of untold Gentile wealth and the slaughter of millions of non-Jews.  This holocaust gets little notice because Illuminati Jews control the mass media and education system using self-righteous and highly-paid dupes of  the “neo-con,” “liberal,” “feminist” “socialist” and “Marxist” Jewish stripe to enforce an intellectual tyranny. 

    The Rothschild front Kuhn Loeb & Co. got a handsome return on their $20 Million financing of the 1917 revolution. In 1921 Lenin gave them $102 million. ( NYTimes Aug. 23, 1921.) As well, they may have kept wealth and bank accounts the (Tsar) Romanov’s foolishly entrusted to them.

    In addition, Illuminati Jewish bankers took ownership of Russian industry.  German Secret Service documents instructed the Bolsheviks to “destroy the Russian capitalists as far as you please, but it would by no means be possible to permit the destruction of Russian enterprises.”

    The German Imperial Bank sent the Bolsheviks in excess of 60 million roubles. In this context, A. N. Field cites Documents 10 and 11 between the bankers and the Bolsheviks: “They give a complete synopsis of the terms on which the German banks after the war were to control Russian industry.” “The Truth About the Slump” (1931) by A.N. Field. (pp.62-72)

    https://www.henrymakow.com/communism_disguises_illuminati.html

    • “Our goal is to gradually absorb the wealth of the world.” – Cecil Rhodes, a Freemason.

    • I can’t understand how such deep lack of innate morality could be possible in human beings, really. The described attitude could perfectly fit the conquer strategy of another species over ours :/…Herbert Welse’s War of Worlds??

      • Evil has no conscience but comes clothed in the righteousness of religion to enslave your mind and possess your soul

      • I meant this, Rev..from your article…:

        “The Kahal followed the Talmudic prescription that Gentile property is a “free-for-all” for Jews who, for a fee, are pre-authorized by the town council (“The Kahal”) to finagle it. Obviously a source of anti-Semitism, this may explain the true predatory nature of Communism (and the New World Order) behind the idealistic-sounding window dressing.
        For example, Brafmann, whom Jewish historians refer to “an informer,” explains Jew “X” buys the rights to Gentile “Y”‘s house.
        “He has acquired ‘khazaka’ i.e right of ownership over the house of gentile “Y,” in force thereof he is given the exclusive right , guaranteed from interference or competition from other Jews, to get possession of the said house…’by any means whatever.’
        “Until he has finally succeeded in transferring it to his official possession, he alone is entitled to rent that house from its present owner, to trade in it, to lend money to the owner or to other gentiles who may dwell in it-to make profits out of them in any way [that] his ingenuity may suggest….”

        • ” this may explain the true predatory nature of Communism (and the New World Order) behind the idealistic-sounding window dressing.”

      • “I can’t understand how such deep lack of innate morality could be possible in human beings, really.”

        Sadly its’ depth exists. Thank God people do not fully understand the lack of innate morality. To truly know evil and fully understand it, is a frightening thought. God is kind.

        • ” To truly know evil and fully understand it, is a frightening thought.”

          “The world is a dangerous place to live, not because of the people who are evil, but because of the people who don’t do anything about it.”
          ― Albert Einstein

    • Hey Rev 17 the Noahide Laws are headlines..“If a gentile does not agree to take on the seven Noahide Laws, we should send him to Saudi Arabia.”

      “The seven Noahide Laws are a basic moral code outlined in the Talmud. They prohibit actions such as blasphemy, murder, illicit sexual relations, theft and eating live animals, according to The Times of Israel.

      Rabbi Yosef added that non-Jews who do agree to abide by the laws will be allowed to remain in Israel in order to serve Jews.

      “Who, otherwise be the servants? Who will be our helpers? This is why we leave them in Israel, ” he said.”

      http://www.belfasttelegraph.co.uk/news/world-news/nonjews-should-be-forbidden-from-living-in-israel-says-chief-rabbi-yitzhak-yosef-34584879.html

      • As true and authentic gentiles the Jews ought to go to Saudi Arabia and behead themselves .. problem solved

        • Reminds me of…. With a mighty blow of his sword, Chushim severed Esau’s head, which rolled into the Cave of Machpelah and came to rest in Isaac’s lap, where it remains to this day. Thus it came to pass that “Esau’s head lies in the bosom of Isaac.”

          • as a descendant of Esau .. the Rebbe should know .. ‘ Obviously, there was more to Esau than the bandit, murderer and wife-snatcher we know.’

            • No doubt….

              The holy materialist is a “skilled hunter,” proficient in the art of evasion, ambush and entrapment. The physical reality recognizes no master or authority, and it relates no function or purpose to itself other that its own perseverance and growth. So, to live a material life as a divine endeavor is an act of subterfuge. One eats, ostensibly to nourish one’s physical body; one engages in business, ostensibly to increase one’s wealth; one builds a career and a position in the community, ostensibly to amass prestige and power; yet this is but a connivance, a ruse by which to entrap the physical and exploit it toward a G‑dly end.

              This was the hunter and gamesman Isaac loved. He loved his material son, who had learned to persevere and profit in the physical world. He loved Esau, who roamed the fields of material endeavor, never failing to bring home a tasty morsel for his spiritual father.

              Jacob in Disguise

              But material life is rife with pitfalls as great as its potentials, and Esau, the ultimate master of the material, was also its ultimate victim. His “head” ceased to lead his “body,” and became its servant and tool; instead of exploiting his material self, his higher faculties were exploited by it. The great trapper was ensnared by his prey and descended into a life of hedonism and violence.

              Isaac, craving the spiritual delights implicit in the material realm, still hoped to employ Esau’s hunting prowess to extract them. But Rebecca understood that her elder son was too much a part of the material world to truly exploit it; she understood that only one who hails from a more spiritual place can hope to unearth the sublime potentials of the material while resisting its corrupting influence. So she dressed Jacob in Esau’s clothes and sent him to receive Isaac’s blessing for “the dew of heaven and the fat of the land.”

              Thus was set the stage for the lifelong contest between the brothers “over the two worlds” of matter and spirit. Wrathfully, Esau watched Jacob’s encroachment on “his” realm, as the latter obtained the blessings by connivance and stealth; he watched the guileless scholar turn wily entrepreneur, matching the conniving Laban trick for trick and amassing great material wealth.

              Esau still had his “head,” only now his spiritual motor made his corporeality all the more virulent. A “headless” body—a physical life devoid of all ideal and direction—is a negative thing; but when a head is subverted by its body, when a person’s spiritual sensitivity and vitality have been commandeered to serve his material drives, this is a materialism that is far more lethal, infiltrating the soul’s innermost chambers and poisoning what is finest in man and his world.

              On the day that Jacob was laid to rest, Esau’s head was severed from his body. The body, divorced from its spiritual vitality, went on to spawn the soulless materialism that is the commonplace challenge to the voice of Jacob. The head, freed from its corporeal subversion, was reunited with its source and kindred spirit in the bosom of Isaac.

              Based on the teachings of the Lubavitcher Rebbe, Rabbi Menachem Mendel Schneerson; adapted by Yanki Tauber.
              Originally published in Week in Review.

    • This is what Trotsky, a Jew, was preparing for the Russians for the implementation of Communism, which Marx based on the Babylonian Talmud for Gentiles:.

      **********

      Remember my children, that all the earth must belong to us Jews, and that the gentiles, being mere excrements of animals, must possess nothing. ~ Mayer Amschel Rothschild on his deathbed, 1812

      **********

  3. Oh, come on. If they really wanted to stop crypto-currencies, crytpo-currencies would already be dead. It would be easy. Just tie them to illegal activities like drugs or terrorism, pass a law, and that would be the end of it.

    They don’t really want to stop these new currencies, but test and control them. Heck, they’re probably the ones behind these crypto-currencies. We still don’t really know who originated Bitcoin. My thinking is that they’re currently in the early testing phases. Once the bugs are worked out, they will legitimate one or multiple crypto-currencies and turn all cash digital.

    They will make the claim that crypto-currency is impossible to counterfeit, which may well be mostly true. But the downside is that every transaction will be traceable, and likely recorded. That will give the Central Banks total control of the entire economy, and there will no longer be any such thing as an underground economy, or a black market (but of course, humans always find a way).

    By pretending to oppose crypto-currencies, they are in effect encouraging their adoption. They say the best way to spread a new religion is to oppress it. Crypto-currency is like a new religion, in that our society worships money as though a deity. They will oppose it in appearance only, while secretly and carefully driving our world to its adoption. And then we will have arrived at a system of digital cash, spent from electronic devices like cell phones or chip cards.

    • My thinking is that they’re currently in the early testing phases. Once the bugs are worked out, they will legitimate one or multiple crypto-currencies and turn all cash digital.

      uh huh..

      But the downside is that every transaction will be traceable, and likely recorded. That will give the Central Banks total control of the entire economy, and there will no longer be any such thing as an underground economy, or a black market (but of course, humans always find a way).

      end game..

      • no need for digital currency at all!…we have/are our smart phones! 😉

      • “The Federal Bureau of Investigation’s work is being hampered by the legal use of digital currencies, the company’s now-former director stated final week.

        https://www.bitscoins.net/ex-fbi-chief-virtual-currencies-hinder-criminal-investigations/amp/

        Nevertheless, the FBI and US government have made a fortune selling off bitcoins confiscated from criminal enterprises.

        • Nevertheless, the FBI and US government have made a fortune selling off bitcoins confiscated from criminal enterprises.

          zinger..

          • 401 in your 2011 article What is Bitcoin? Your comment was a prediction that the virtual currency would not go big because government couldn’t profit. It prompted me to follow the money when it did go big. Clearly our government and it’s cohorts are in fact prospering. ”
            Harry Yeh, Binary Financial managing partner, told CoinDesk the company’s participation the auction is of great importance: “It’s just one of those big plays that you have to be involved with if you’re a big player. […] It’s very rare that you have the opportunity to source such a large block of coins.”

            Yen said that purchasing cryptocurrency from the US government provides more benefits than buying them on the open market.”

            https://www.coinspeaker.com/2014/06/19/u-s-marshals-accidentally-leak-list-of-bidders-in-silk-road-bitcoin-auction/

            If you aren’t using Bitcoin for crime, the FBI could still seize it.At least according to Alex Daley, chief technology strategist at Casey Research. The crux of the problem is that Bitcoin isn’t really anonymous. In fact, all Bitcoin transactions are kept in a public ledger which could theoretically be used to identify who made Bitcoin transactions. That means that if you receive payment in bitcoins that were previously used for something illegal, like buying drugs, the Feds could in theory seize it from you because the person who gave it to you didn’t actually “own” the ill-gotten bitcoins – so they can’t legitimately transfer them to you. (Bloomberg Businessweek)

             The opportunity for the bastards are limitless:)

            • https://seeker401.wordpress.com/2011/02/17/what-is-bitcoin/

              this does look like it could work..but never on a large scale i wouldnt think..for the basic reason there is no money to be made from it for the government..

              401

              i guess in hindsight government should also read central banks..so the rise and rise is only “allowed” if they have their finger in the pie somehow..its interesting to look back eh? 😉

              i still think if tptb had their way the global unit for trading in the future would be carbon credits or similar..

              • Yes! Exactly! They are, one and the same. Looking back we really can look forward, knowing we are not delusional. Carbon Credits, hilarious, then they would figure out how to tax us on our farts….

                I want so sure about this whistleblower initially but I think maybe just maybe
                he sheds light…

    • “Clearly, other countries around the world, including the U.S., are quickly moving to a global cashless economic system. The final step would be the use of some kind of microchip or nano-chip implant… and a person could not buy or sell without this technology. As we look at all these crises a common theme seems to be emerging: the “solutions” being implemented and proposed all contain the elements of globalism and the creation of some kind of new global economic, political, and religious order.

      It is as if history is repeating itself because thousands of years ago Mankind attempted to deal with similar problems by creating the world’s first one world religion, one world government, and one world economic system at the Tower of Babel in ancient Babylon, founded by Nimrod. Ancient Babylon was a globalist society built on mysterious but real science, technologies, and spiritual systems that have been passed on for many thousands of years through a secret priesthood. This is why it is no accident that a Babylonian commercial and economic system known as Mystery Babylon is prophesied to return, in the Book of Revelation 17:5.

      Although I have been researching Babylon for many decades, I began the most intensive pursuit of my life about five and a half years ago when I partnered with Troy Anderson, a Pulitzer Prize-nominated journalist, in deciphering the coding system imbedded in the Tower of Babel and being implemented today by a secret priesthood who plan to radically restructure our society based on the “Mystery Religions” of ancient Babylon. We believe that we have uncovered some of these “mysteries,” which can explain what is going on behind the scenes in the world today.

      We have co-written our research in a new book that is coming out in October called “The Babylon Code”. Our research has uncovered a secret coding system passed on by secret societies who plan to recreate the one world religion, one world economic system, and one world government developed by Nimrod and recorded in Genesis 11. This secretive elite has passed on this prophetic code and occult teaching in Egypt, Rome, China, Europe, and the U.S.

      Our research has uncovered the secret of the ancient god-kings who ruled the world’s most powerful empires. In fact, the ancient pre-flood super civilization Atlantis provided the science and technology which allowed ancient Babylon to flourish, and while many in the so-called higher levels of our society would ridicule such ideas, the men and women who compromise what Aldous Huxley termed the Scientific or Technocratic Elite, who currently rule our global system, have always been avid students of the science, geopolitics, and governmental structure of Atlantis, primarily through reading the Greek Philosopher Plato’s writings.

      On a global cultural level the lower classes, middle class, and managerial classes, which includes prime ministers, presidents, senators, CEO’s, scientists, and college professors are clueless about what is really happening because they suffer from a socially engineered myopia and they cannot connect the dots because their brains have been programmed from youth to be left brain dominant. This means that they are good at thinking inside of the box and following orders.

      But due to social engineering they are unable to access their right brain, which is creative and could ask the big questions and connect the dots. When the neurological pathways are trained from childhood to bypass the right brain, eventually people become hollow shells who are able to conform to the artificial norms of society and are programmed to serve their scientific or technocratic masters. An example of how this programming works is the social engineering system called Common Core, which is designed to create people who are capable of group think and connecting with the hive mind and “World Brain,” but not capable of thinking as empowered individuals.

      As Anderson and I began to delve deeper into our research we were able to interview people who are part of this Scientific Elite, such as world class economists, the heads of NSA psy ops programs, military generals, presidents, prime ministers, and high ranking members of the Freemasons and Illuminati because we found as a general principal that these individuals were hiding nothing…everything was “hidden in plain sight” and out in the open for anyone to see. But due to their programming most people cannot see what is actually in front of them.

      What we discovered and extensively document is that the chaos we see in our nation and world is largely scientifically engineered, inspired by one of the primary coding systems from Babylon, which is “Order Out of Chaos.” The fact that the U.S. dollar openly displays Illuminati symbols like the all-seeing Eye of Horus and the words “New World Order” in Latin on the base of a picture of a pyramid is evidence of the fact that no one is hiding anything! It is all in plain sight. But through extensive interviews and examination of historical documents, we found that this ancient code explains many contemporary current events. ”

      paulmcguire.us/nwv060215.html

    • I think they are behind the crypto-currency which took the place of the illusive carbon credits that were only meant for big business to modernize their facilities, thanks to the shareholders who gave them the ‘credits’. Digital everything seems to be their goal.

      Good to see you D. 🙂

  4. http://www.israelnationalnews.com/News/News.aspx/209963

  5. http://www.activistpost.com/2017/06/federal-reserve-saboteur-experts-oblivious.html

    “It is important to understand what the Fed actually is — the Fed is a weapon. It is a weapon used by globalists to destroy the American system at a given point in time in order to clear the way for a new single world economy controlled by a single managerial entity (most likely the IMF or BIS). This is the Fed’s purpose. The central bank is not here to save the U.S. from harm, it is here to make sure the U.S. falls in a particular manner — a controlled demolition of our fiscal structure.

    https://socioecohistory.files.wordpress.com/2014/07/theeconomist-phoenix_get_ready_for_world_currency_by_2018.jpg?w=420&h=579

    https://socioecohistory.wordpress.com/2014/07/26/flashback-1988-get-ready-for-a-world-currency-by-2018″-the-economist-magazine/

    • “It is important to understand what the Fed actually is — the Fed is a weapon. It is a weapon used by globalists to destroy the American system at a given point in time in order to clear the way for a new single world economy controlled by a single managerial entity (most likely the IMF or BIS). This is the Fed’s purpose. The central bank is not here to save the U.S. from harm, it is here to make sure the U.S. falls in a particular manner — a controlled demolition of our fiscal structure.

      powerful statement..

      • it is quite alined with this viewpoint…:
        “”By now Jews in the US are the most privileged and influential part of the population. You find occasional instances of anti-semitism but they are marginal.” — Noam Chomsky

        “Anti-semitism is no longer a problem. It’s raised, but it’s raised because privileged people want to make sure they have total control, not just 98% control.” — Noam Chomsky”

        ..the 98% control to become 100% control…

        the think I can’t figure out by now is how the Chinese yuan enteres the scheme of the SDRs and the whole plan of the kosher nostra pals…

      • Yep, just like the twin towers

  6. […] https://seeker401.wordpress.com/2017/06/29/how-central-banks-intend-to-fight-cryptocurrencies/ […]

  7. http://www.nasdaq.com/article/big-4-accounting-firms-are-experimenting-with-blockchain-and-bitcoin-cm812018

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