It truly was so much ignorance, fear and greed that set this system up! Wow, depends so much on hiding things and misinforming people… like cannibalizing the masses.
My favorite discussion thread so far with so many like minded people who see things the way I do. Lots of great info. These topics need to be taught in our schools, there are few who know what money really is.
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I found this really eye opening. I did not know what SWIFT was. I also believe that central banks are linked to politics unlike what they initial idea was behind them. It seems from the last exercise that I did that the US FIAT currency is extremely over extended.
Cannot wait to watch a movie to see the different perspectives of people who are living through this. So many people just put their heads down and do not ask questions.
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Banks create the money through fractional lending. It’s been declining during the pandemic naturally. https://fred.stlouisfed.org/series/BUSLOANS Government money is the printed currency.
Government Money are like a sh*tcoin ( I’m sorry for this expression). You may see some positive results on the beginning but over the time because of lies, unstable policy and etc. they collapse and there value goes to zero. Government Money are the biggest scam or Ponzi scheme ever. You exchanging your time and freedom for something that lose his value everyday.
Looking at the history of government money, we say a transition from “hard currencies” denominated in physical gold to fiat currencies still redeemable in gold to fiat currencies only redeemable in more of the same fiat currency. And this transition has usually been one of expediency (I’m from USA) - financing a war effort (going off gold standard, temporarily), coping with the Great Depression (outlawing the private ownership of gold), giving an historically powerful country (USA) a monopoly on money in relation to other nations fiat currency ( The Brett-Wood conference) and finally, abandoning all pretense of gold backing fiat currency (Nixon’s Order of 1971). Hard not to be cynical, yes? It will be interesting to see how far cryptos can go to give relatively small investors an alternative to the ties that bind to an ever decreasing real value in the fiat currencies throughout the world.
Right. Just like Henry VIII.
And now it is The People who control the crypto!
As it should be 
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Cheers to ‘now it’s the People who control the crypto’ … for now. I believe the Central Banks and financial institutions will influence BTC (the predominant crypto) so they can buy-in.
Yes, I think you’re right.
Ron Paul, what a Legend!! Subscribed to his youtube channel.
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Golden Standard Era
The Gold Standard is a monetary system in which the government issued banknotes are equivalent and therefore convertible to the fixed amount of gold. That is to say it was a currency backed up by a commodity, the value of gold.
- In the early 1900s prior to the Great War in 1914, all the major economic superpowers had The Gold-Standard monetary system.
- The outbreak of World War I in 1914 caused a high demand of military funding that was not feasible to the money supply backed by gold.
- All the countries, with exception of Switzerland and the U.S.A, adopted a new form of monetary system called ‘fiat’-currency, which marked the end of The Golden Standard era.
- After World War I, all the war-participated countries’ value of currency, compared to the Swiss Frank, dropped significantly due to the fact that there was more paper-money in the circulation.
- On the 5th of April in 1933, The United States government issued Executive Order 6102: Citizens were required to hand in their gold to the Federal Reserve prior or on the 5th of May. The FED would pay the citizens $20 per ounce for their gold.
- In 1944, The U.S.A became the bargaining superpower due to the fact that the dollar was backed by Gold and they also owned 2/3 of the world’s gold reserve. At this time, the gold price rate had increased from $20 to $38 dollars per ounce.
- Major superpowers across globe would exchange their currency for US Dollars, which at that time was freely exchangeable for the fixed amount of gold. This would inevitable threaten the US Gold Reserve which later will contribute to major economic rearrangements in the political sphere.
- On the 15th of August in 1971 under Nixon’s presidency, United States of America officially also abandoned The Gold Standard monetary system for Fiat.
- As of today, one ounce of gold is equivalent to $1839.10 USD.
Fiat Currency Era
-
Fiat currency is a monetary system in which the government-issued paper money is not backed by a commodity, such as gold and silver. They are simply an economic instrument which requires confidence and only used as a medium of exchange for goods and services.
- Fiat currency is a monetary system in which the government-issued paper money is not backed by a commodity, such as gold and silver. They are simply an economic instrument which requires confidence and only used as a medium of exchange for goods and services.
- Fiat currency allows governments (e.g. Bank of Canada) or private institutions (e.g. FED) to print an abundance of new paper-money to pay for the highly demanded war efforts.
- Ever since 1971, the newly printed money introduced to the circulation has caused a devastating economic downturn, prices and debt skyrocketing at an exponential rate. In short, more paper money cause inflation.
- Computers and Web technology introduce the digitalization fiat currency, which will ultimately open a secret door to a new form of monetary system yet unknown to the world and will challenge the current monetary system.
Central Banks
Central Banks are monetary institutions assigned with the entitlement of the production and the distribution of credit and money supply for a nation (USD) or an economic union of nations (EURO).
- Unless nationalized, Central banks are private entities separate by their government, and they are inherently given the privilege to decide on monetary policies.
- The appointed officials of these institutions are not elected persons. Thus, corruption and greed.
- Central Banks are resorted as last means to become lender for bankrupt financial institutions, banking, and even governments.
- Central banks have three primary goals:
- Low Unemployment
- Stable Currency
- Manageable Inflation
In other words, central banks set up interest rates and annual inflation rates 2-3% in order to achieve these three primary goals.
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the old monetary system which politician and central banker has conspire with has been proven to be unefficient and cause a lot of fraud and loop holes whice enlarging the black market which creates bigger and bigger crimes to conduct, all these years with free market we have reached to a point of no return, technology has been established to be set upon mankind to work on better financial related product, its crypto tech, and this world wont ever look back when the consensus has been reached upon, the marketcap of the crypto industry is one of the indicator, next, its up to us to make use of and build on top of it all…the lesson is clear, never let any certain of people, small or even large group of people to be trusted to control the way money created in such closed environment, they all should be verifiable by the masses at any given time, in mean time goverment money wont be addressed as a store of value anymore, everyone will understood from this Bitcoin mainstream era that goverment money aka Fiat Currency is only a way to keep on corrupting from their citizen, by inflation and unreasonable amount of taxes if not by keeping it all to them self by restructuring laws and bribe the law enforcement officers
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I don’t like the phrase Goverment money - goverments don’t own any money!!!
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In all this course so far, I hear the governments have kept printing money for various reasons and that this is generally not the best thing.
Do the info-graphs shown on this course so far account for population growth? There are simply more people in the world today than there was 100 year ago. If currency was to be tied back to the limited gold supply (most of which is controlled by few countries), how could we have a system where given the current population of the world, everyone has enough money to go about their business? I am new to all this financial stuff so may be missing something obvious here.
Thanks.
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government money, not something i want anymore. i feel it drains my energy. its vampiric.
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Short the FED, long BTC.
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I found the image of different financial structures in the swift system very interesting. I would like to know in more detail how each of these structures e.g.ICSDs and VMUs , operates, so that I can properly appreciate how different Defi applications may improve upon them. After all, being easier to use and more efficient are the only reasons why Defi may end up becoming mainstream over the next few years.
Does the Defi course in the Academy display more about this, and if not,Please could someone tell me what is the best source, from which I can learn more precisely how current systems operate?.
Thanks
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