3 Comments

1. Corbett on 06/06/2015 at 10:17 pm

   Hahaha, who cares? The UK beat them to it by a year:

   http://www.forbes.com/sites/timworstall/2014/09/14/uk-to-be-first-non-china-state-to-issue-renminbi-bond/

   Funny I didn’t see anyone in the alt media writing about how “Britain is about to take another major step towards liberating the Pound from the Dollar System” at the time.

   (And the creation of the phoney West vs. China narrative continues…)

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2. dfx on 06/09/2015 at 12:51 am

   If

   the power of the central banks lies in their ability to create money
   from nothing (they control the printing of the money)

   And

   we’re moving away from a cash-based society where this printed money becomes illegal

   Then

   doesn’t that deprive the central banks of their monopoly on currency creation, and remove their power?

   What would then prevent my local credit union from creating a crypto-currency system based upon an ATM card that they control – not regulated by the Fed? Suddenly my currency of exchange is between me and my credit union. The local retailers, who accept my ATM card at present, could adapt their machines (or a local enterprise would be in the business of said adaptation) to accept the local crypto-currency cards as a method of exchange, sort of like a crypto-script, leaving the Fed out of the equation. The elimination of cash, with all of its centralized tracking of consumer data, could be a double-edged sword, providing the means of removal of power from the central institutions who now control the printing of money.

   I know the issue is a lot more complex, but is there merit in this observation?

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3. Corbett on 06/09/2015 at 8:35 am

   Thanks for the tip, Craig. The link should be working now.

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