Dear Jim: Crypto Comment.
I have been avoiding the cryptos until the prototypes get over their growing pains and they become widely accepted with the shaky versions faded out. Add some asset backing to perfected cryptos and they will quickly obscure the fiat versions. It is happening now with several asset and SOVEREIGN (Russia, China, others) backed cryptos in the works. When the crypto-space stabilizes it should be a simple matter to exchange quality hard assets for easy to use cryptos for everyday transactions. Jeff
This posted clip is reportedly from Doc Jim Willie: “For Gold & Silver to reach their exalted levels, an overdue event, what is required is the end of the USDollar dominance in trade payment and the merger of crypto currencies with precious metals as core. Both events are coming, and neither can be stopped. The former is inevitable from the deep corruption and baseless vessel that has been produced from the King Dollar’s wake of ruin. The latter is inevitable from the evolution of pure entities of form. The financial masters cannot stop the natural process, which has received gigantic motivation from the hyper monetary inflation so heretically called stimulus, and from the abuse of sanctions and war to defend the dying decrepit USDollar. The only stimulus evident is toward dismissal of the USD as global currency reserve, and the generation of the new secure age honest money form. To be sure, the developments are still early, with many twists and turns, full of risk and some confusion. However, smart contracts are honest contracts, which can tend to quickly displace the standard fraud embedded in the current system led by Wall Street banks. Their MERS property title database for linkage to mortgage bonds is probably the biggest example of big bank corruption in modern history within the asset backed bond market. It was exposed following the Lehman failure as a database accomplice. Furthermore, the cryptos could evolve to become the new public forum for matters beyond the financial sector, like for official elections and other global consensus issues. These promising areas must be developed, as well as the financial integration of cryptos, so as to further the honest evolution of conducting business and managing transactional politics. The key is to create honest reliable systems, free from elite fraud with an evil agenda and zero accountability. The key is to administer ourselves with integrity via encryption, without gatekeepers and corrupt overseers. Imagine a US nation with blockchain ledgers for military weapon procurement, appropriation, delivery, and payments. The $6.5 trillion in missing Pentagon funds since the 1980s (not under investigation) would never have happened.” ~ Jackass & Sky Crane Jim Willie publishes The Hat Trick Letter