How did we get into the current fiat world?
The Federal Reserve Act
It all started in 1913 when a small group of private US bankers created the Federal Reserve Bank [FED] with the support of President Woodrow Wilson. This basically meant that the FED would have the monopoly to create money: in this case the USD. The Fed then lend these USDs to the US government at interest, meaning that the government was in debt vs the FED, allowing them to control the new empire, the USA, through the money supply chain.
The Rothschild family has mastered this strategy over centuries, as they also had a say during the British Empire and before that the French Empire. During this phase, the USD was a national currency.
The Bretton Woods Agreements
In 1944, during the Bretton Woods Agreements, the USA was able to monetize on its successful strategy during WW2, which left them pretty much unharmed and in control of most of the global gold supply.
The USA was therefor given the privilege and their currency, the USD, became the monetary reserve currency for the partners of the agreement which were: the defeated Japanese Empire, A destroyed Europa, Canada, and Australia. The USD could now spread its wings, and while the FED only needed to 'print' free money, the agreement partners had to work for a currency backed by gold at a ratio of 35USD per Ounce of Gold. In the beginning, the USD partners trusted the gold ratio, but as it became ever more clear that the USA printed more currency than they could back by physical gold, countries started to realize they were being scammed.
And in 1971, President Nixon took the USD of the gold exchange standard. At this point the USD was not backed by anything, which turned out to be a big problem, as it was now a fiat currency with no backbone.
The PetroDollar Deal
Unfortunately for the world, but brilliantly designed by the USA, they decided that the global oil trade would now have to be facilitated by using 'only' the USD currency. And they would back it up, with their strong and dominant military-industrial complex. Whether the USA was exporting peace and democracy to the Middle East or was trying to dominate these countries so they would have to sell their oil for another country's currency, the USD remains open for debate.
Nevertheless, the Middle East was, is, and will probably continue to be a volatile and violent region, at least until we no longer use oil as a fuel source.
This expansion of the USD money supply, unfortunately, came with the accumulation of a growing mountain of debt as it is based upon a debt strategy to allow the elites global control. But it also had its advantages: credit is necessary to start a career, to buy a home, start a family. But when capitalism is manipulated by not allowing a small avalanche to crush a stupid snowboarder (big banks), the avalanche grows bigger and will eventually wipe out the entire city in the valley.
The rise of China and Bitcoin go hand in hand
Whilst the USA was focussed on the Middle East, China was focussed on its growth: and their well-working government and population achieved a miracle, as they created a middle class of 300.000.000 people in a time span of no more than two decades. President Trump argues that China stole US technology when in fact the US crony corporate company executives sold out their workers and technology secrets for China's promise of cheap labor and huge profits. And for a while the party went on, but not for the American middle-class, which saw its jobs and so its wealth transferred to China.
The 2008 crisis led to stagnant western economies, kept alive whilst injecting the comatose patient with shots of low-interest rates and helicopter money. For example, the brilliant ECB economics are lowering interest rates again. This weak western economic forecast has pushed China to change the shoulder and become more independent from western markets. That and Trumps' brilliant tariffs, of course, gave the Chinese all the excuses they needed to come up with a new plan for their economic survival: a more domestic internal growth story, which they can very well manage, given the fact that the one belt one road is working out fine. China has the workforce, the infrastructure, the willpower, the access to commodities and the technology and will pull it off.
Following the 2008 financial crisis, Bitcoin was invented and started its own adoption process: it is now a well-oiled machine, a global blockchain-based trustless network, allowing its participants to transact peer to peer without the need for trust in a middleman. Bitcoin is projected to grow further, both in adoption as in value, as a new halvening is upon us.
Bitcoin might not be ideal to use as money, but the millenial generation, who figured out the problems in the global reserve currency system, see value in the bitcoin cryptocurrency: it is trustless, ideal when you can not trust banks. It is easy to use, fast, safe, decentralized and it can even back the new global financial system, that will eventually arrive at our doorstep.
Unfortunately, the western democracies haven't yet figured out that they will need to have bitcoin in reserve like they value gold. China realizes this, I have good reason to assume that Russia does so too. Iran does. All these puzzle pieces illustrate one catastrophic event: the end of the USD as the global reserve currency, a status that was often abused by hawks using it as a weapon. A system that more than often was used to wage war.
Everyone that wants to be safe and have access to a meaningful store of value, because our money's value is being further eroded, has to study the gold and silver markets, the cryptocurrency market, and of course the reason that led up to these events: the federal reserve bank and the monopoly to print money!
The future: Bitcoin is a store of value!
At this moment there is a global fight going on behind the curtains, a fight between the USA and China, but other players are involved as well. As the USA's global leadership position slowly weakens, and China's global leadership strengthens rapidly, the positions on the global chessboard are being moved and a new balance will have to be created. The outcome isn't yet predictable, but rest assured, the elites will try anything to remain of some significance in the 21 century.
For now, we are witnessing a currency war: this typically weakens currencies as each fighter tries to devaluate its currency to have an export benefit. This and unfunded liabilities that created a mountain of debt results in federal banks lowering rates and printing more money, which results in the erosion of your money!
Bitcoin specifically is designed to offer you an escape route, I strongly suggest you start studying 'money' so you can survive this 'reset'!
Meaningful information sources:
Mike Maloney has made a youtube series educating you into the history of money, he also addresses bitcoin and cryptocurrencies.
Peter Schiff can educate you about gold and silver.
Other interesting people: Ron Paul, Max Keiser, Dollarvigilante, Gerald Celente, Professor Richard Wolff, and many others...
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Topic: Bitcoin will safe us during the coming fiat USD collapse! (Read 22357 times)