Realist, not conformist analysis of the latest financial, business and political news

Is Cryptocurrency Our Revolution, Or Theirs?

When we think about the darkly opaque goals of modern central bankers as they relate to the global monetary system, their conduct raises the question – are they racing to repair it, or preparing to replace it?

Let’s speculate wildly about the latter.

Back in 1988 the Economist told us to get ready for a global currency.

And then in 1996 the NSA went and invented cryptocurrency.

The original paper can still be viewed online – How To Make A Mint.

At some point maybe the central bankers realised that people would not take kindly to having cash abolished and their money placed exclusively and permanently under the control of malevolent psychopaths, so they wondered………………

“How best to get the proles to beg for it?”

The plan they (maybe) hatched was a neat one – create a fake hero who could be lauded as our John Galt, the creator of a cryptocurrency that was outside the control of the malevolent psychopaths and who would lead us away from our deteriorating fiat currencies and into the promised land of decentralised money.

Enter Satoshi Nakamoto – the Japanese version of John Smith. A faceless anonymous proxy who could be presented as having arrived to save us.

And so Bitcoin the Trojan cryptocurrency was born and the long process of normalisation began. The initial scepticism was steadily eroded by positive coverage and benign (indeed absent) regulation, and anyone who openly doubted the providence or usefulness of this upstart currency was decried as spreading FUD (fear, uncertainty and doubt)

The cult was born, and the non-believers were purged.

Once it was obvious cryptocurrency was accepted, they stood aside and let it rip. Suppression schemes that have been successfully used against gold and silver were not deployed.

Meanwhile Nakamoto had become first a dollar millionaire and then a billionaire as his Bitcoins appreciated in value. To this day, he has liquidated none of it.

Maybe being entirely fictitious, he doesn’t need the money?

But of course the architects of any new monetary systems wouldn’t really want Bitcoin and its trailing archipelago of shitcoins to have any sway over the new global money – how best to disenfranchise them without complaint?

Well, a neat opening move would be to start demonising it – make it clear that in the absence of any regulation (that you chose not to build) it had become a playground for criminals, pedophiles and drug smugglers. The currency of choice of organised crime (of course the dollar has no such problems) that needed to be brought to heel.

At that point you need to create one of your own, to replace private crypto, but what do central bankers know of such things? They are incompetent bureacratic psychopaths, which is not a core skill for crypto devs.

What they needed was a readymade team of such people – ideally working at an organisation somewhat beholden to them and with a long association of sharing intelligence with them, who could be trusted to build it and support it, but hand it over to a global governance body when the time came.

You know, like Aaron Kalloor.

Ideally you’d need their version to already be well-known but not in use, and to have uniquely gone through some kind of vetting theatrics. A stablecoin, linked to the currencies you already control. Digital fiat.

A cryptocurrency that was pristine, with no baggage, and yet completely centralised and controllable.

Give it a colour scheme and have it ready to pounce, so that when private crypto has to be torn down, there is a ready-made replacement into which we can all be stampeded. Give it a name that sums up The Great Reset ethos – that you will own nothing and be happy, and need only enough money for the day.

All your cash and all your private crypto, converted into a nice neat stablecoin.

Diem?

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