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December 26, 2018 | Let’s Understand Digital Money!

Donald B. Swenson: Born January 24, 1943, Roseau, Minnesota. Graduated H.S. 1961, Moorhead High, Minnesota. Graduated College 1968, Moorhead State University, Minnesota. Designated member of Appraisal Institute (MAI), 1974. Employed with Western Life Insurance Company, 1968 – 71; Iowa Securities Company, 1971 – 73; American Appraisal Company, 1974 – 81. Part-time teacher/valuation consultant/bartender, 1979 – 2008 (taught workshops at Waukesha County Technical Institute, Wi. and Madison Area Technical College, Wi.). Retired 2008 (part time teacher/blogger), AZ. Self educated economist/philosopher/theologian: http://kingdomecon.wordpress.com.

Our world money system is now mostly ‘digital’ and money flows within cyberspace from computer to computer as photon digits. Tangible money is being eliminated!

 

Today at the clubhouse we discussed the various forms of money which America has used since its founding. I was surprised that none of my investor friends seemed to understand this history. So let’s briefly review the history of money to discern what has happened over the years.

 

  1. Let’s think back to our founding immigrants who landed on the shores of Plymouth Rock in 1620. What was used as ‘money’ when dealing with the Indians? What happened is that our native Americans liked to barter for items which they felt that they needed or desired. Cigarettes were desired and served as ‘money’ with some Indian traders. Sugar was another item which was traded as money. Later cotton, tobacco, and select beads (called Wampum) were traded as ‘money’.
  2. During our Revolutionary War, Benjamin Franklin printed up the Continental paper currency and this became ‘money’ for a short period. These paper notes worked to exchange items of ‘value’ within the Colonies until its collapse in 1781.
  3. Then in 1785, Thomas Jefferson devised a number system (based on the concept of ten) to create our official ‘money’ system. Jefferson chose silver as the foundation for ‘value’ and then minted coins (with a definition) to serve as the foundation of money. The Coinage Act of 1792 was passed by our first Congress to give credence to this newly created money system of Jefferson.
  4. All this worked rather well for decades. Silver, gold, and paper notes (tied to silver and gold) worked as money (so that ‘value’ could be exchanged). Then our private banksters got involved after the crash of 1907. They met on Jekyll Island, Georgia and devised the Federal Reserve banking system. Our money system became ‘centralized’ and this changed our system from a Congressional money system to a private banking money system. All this happened after 1913 with legislation called the Federal Reserve Act.
  5. Then a Great Depression happened after the stock market crash of 1929. With the election of Franklin D. Roosevelt in 1933, America called in all the gold owned by Americans and redefined our dollar. Our paper dollar (based upon mere faith) was adopted for Americans (to use) and a gold exchange dollar was adopted for foreigners (to use). All this lasted until 1944 when a new money system was adopted after the Bretton Woods Monetary Agreement in New Hampshire.
  6. This Bretton Woods system lasted until 1971, when America’s gold supply declined sharply and our then President, Richard Milhous Nixon, closed this gold option for foreign Central Banks. America’s gold supply had declined some 60% from 1944.
  7. After the closing of the gold window all currencies (globally) became mere fiat units (based upon nothing). This led to a need to price this commodity (called oil) in dollars to stabilize the global system. All this happened in 1975 and after. The system was called the Petro dollar system. OPEC priced all their oil in U.S. dollars.
  8. Then in 1998 and after our banksters developed this digital currency system which we live with today. This digital system lives in cyberspace and all our money (some 95% today) circulates as a flow of photons (light) from computer to computer. Photon money units get created from the mind of our banksters (out-of-nothing…their mind) and then typed into a computer screen (cyberspace).

 

Today, we live with a global digital money system which is driven by high-speed computers, robots, algorithms, and electronic stock exchanges. All markets are now mostly a flow of money numbers (within cyberspace) which have no tangible existence. Some call this a Cashless system. Others call this a Digital system. The flow happens at near the speed of light. Money has evolved from a tangible substance to a unit of our consciousness (which circulates as photon numbers).

 

Money and value is now an ‘inner’ experience which we all use to trade and exchange among each other globally. We live in an interconnected digital marketplace which is global in scope and which is controlled, monitored, and rigged by our Central banksters. A Central Bank like the U.S. Federal Reserve can change money flows by merely a decision from their leaders. Note the changes of our Fed Chairman, Jerome Powell (recently). Money is now a metaphysical and inner experience.

 

Our entire economic system is now dependent upon the decisions of unelected elites who administer our money (behind closed doors) and with a small group of Central Banks as the operators. The most significant Central Banks are the following: the U.S. Fed, the European Central Bank, the Bank for International Settlements, the Bank of England, the Bank of Japan, and the Peoples Bank of China. These few Central Banks monitor, control, manage, and rig the entire global monetary system.

 

The volatility in our markets is due to the type of money system which we now live with. Digital money flows can not be stable as they are inner flows of consciousness. Money gets created out-of-nothing and flows in this metaphysical space called cyberspace. Look at your computer/smart phone screen for evidence of what has happened since 1998 (mostly). Where is all this leading going forward?

 

The coming conference in Davos, Switzerland, called the World Economic Forum, is likely to set in motion a RESET for all money and value. This conference will be held from January 22-25, 2019, and all the elites (some 2500) from all parts of our planet will attend. America’s leader, Mr. Trump, will also attend along with a host of his advisers. All this is likely to lead to Global Governance and a new Reset of our monetary system. Watch what happens over in DAVOS in January. It’s all happening quickly and in the NOW.

 

https://toplink.weforum.org/knowledge/explore

 

I am: https://kingdomecon.wordpress.com.

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December 26th, 2018

Posted In: Kingdom Economics

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