Monetary System On A Blockchain

Maybe the central banks could eventually manage their entire monetary system on a blockchain with supercomputers. But, far more likely is a hybrid version, in my opinion. Where the financial industry implements blockchain technology and virtual currencies with a physical component, such as gold reserves and ownership deeds to property.

In this scenario I can imagine banks eliminating the zero lower bound with negative interest rates, unlimited derivatives and inflation. All that without hyper-inflation felt by the citizens who are mandated to accept national virtual currencies.
The virtual currencies could be valued at 0.00000003 fraction of a gold ounce!
With that mathematical precision the Derivatives keep burning infinitely.

Allow me to state this in my blunt way, the banks would have blockchain digital receipts on real tangible assets, but the national virtual currencies would be non-physical and worthless except in the minds of the clueless citizens. This could allow the banks to (inflate) cut smaller valuations to infinity without the citizens’ approval or recourse…

Yesterday, I posted about Goldman Sachs’ cryptocurrency patent.
See: Oh-oh, Goldman Sachs Has A Cryptocurrency Patent!
The importance of that was explained by Chris Duane.
The bank’s patent means there is now a proprietary digital technology acting as a receipt for underlying securities.
In their example IBM could use this tech to represent their stock shares:

“One IBM-S SETLcoin represent 100 shares of IBM, while one AAPL-S SETLcoin represent 5 shares of Apple.”

The cunning and deviousness from the financial engineers astounds me.
They wish to keep the monetary system enslaving mankind.
The updated monetary system version is digital and may be on a blockchain!

Okay, that’s enough of my speculation, below is the evidence that institutional governance will implement policies, regulations, and blockchain tech or destroy it as a threat.

Monetary Blockchain Policies:

On January 14, 2016 the Brookings institute convened a round-table for technical discussions about the digital distributed ledger technology with industry and policy stakeholders.

Who Attended:

  • Brad Peterson, Executive Vice President and Chief Information Officer (CIO), NASDAQ
  • Barry Silbert, Founder and CEO, Digital Currency Group
  • Michael Barr, Roy F. and Jean Humphrey Proffitt Professor of Law, University of Michigan Law School; Non-Resident Senior Fellow, Brookings
  • David Mills, Assistant Director, Federal Reserve Board
  • Vanessa Kargenian New York Fed
  • Perianne Boring Chamber of Digital Commerce
  • Lael Brainard Fed Board of Governors
  • Drew Davidhizar House Committee on Financial Services
  • Dino Falaschetti House Committee on Financial Services
  • Ward Griffin CFTC
  • Adrienne Harris National Economic Council
  • Adam Riggs State Department
  • Sean Rodriguez Chicago Fed
  • Stephen Pair BitPay
  • Neil Wolin Treasury Department
  • Jose Pagliery CNN Money
  • [and other officials, executives, legislators, corporate media – but was this meeting hyped up in the news-feeds? No, of course not – which is why I write about this. ~Ronmamita]

https://www.brookings.edu/events/beyond-bitcoin-the-future-of-blockchain-and-disruptive-financial-technologies/

https://www.brookings.edu/wp-content/uploads/2015/12/20160114-Roundtable-Agenda.pdf

Title: Impact of Blockchain/Distributed Ledger on Financial Services and Payment Systems
Video posted 15 Jan 2017 by Brookings Institution

§

Please investigate and research further, I’m off to sleep – Ciao!

If you find this information useful or of value then please share it with others.

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One comment on “Monetary System On A Blockchain
  1. RonMamita says:

    European Bank Failures: A Bellwether for Another Imminent 2008 Financial Crisis?

    Did a series of banks not-so-randomly failing across Europe present a negative bellwether for another imminent 2008 Global Financial Crisis? How would any average citizen know? In this inaugural episode of Money and Fear, we’ll review a sampling of bank failures, weigh whether more institutions can and/or will fail, and what it all means for “systemic risks”, “contagion”, and other fun technical words used to nonchalantly summarize global economic mayhem. We’ll also ask if there is any sense of a wider – or deeper – design to such wealth destruction which would seek financial asset consolidation as a political tool, believe it or not. Do not miss this one-of-a-kind show to find out what co-opted global governments don’t want you to know!

    https://www.newsbud.com/2017/07/20/european-bank-failures-a-bellwether-for-another-imminent-2008-financial-crisis/

    Title: European Bank Failures: A Bellwether for Another Imminent 2008 Financial Crisis?
    Video posted 20 Jul 2017 by Newsbud

    Show Notes:

    Newsbud Exclusive- European Bank Failures: When Do They Go Globally Systemic, and Who Decides?

    Collapse of Veneto banks would create systemic crisis: undersecretary

    Italian Banks, A German Bank and The Euro

    The Italian Banking Crisis: Fear of the Walking Dead

    Trump’s America Is Facing a $13 Trillion Consumer Debt Hangover

    JPMorgan Tells Banks to Partner Up as U.S. Deposit Drain Looms

    Text #1: Alchemists of Loss: How Modern Finance and Government Intervention Crashed the Financial System by Kevin Dowd & Martin Hutchinson

    Text #2: The Death of Money: The Coming Collapse of the International Monetary System by Jim Rickards

    Text #3: The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis – Ibid.

    *For additional footnotes and links refer to the Newsbud article link above

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