Here is Part 2 of my article “The Argument of Bitcoins v. Gold Laid to Rest. The reaction to Part 1 of this article, printed on my online blog on March 28, 2013 interestingly illustrated certain aspects of human nature quite well. Though I outlined both significant strengths and serious flaws of the Bitcoin monetary model in Part I, those that support Bitcoin focused only on trying to discredit the flaws I discussed and stated that I should please stop attacking Bitcoin even though I implicitly stated in Part I that I believe Bitcoins should be able to co-exist as a competitive currency, because in the end, as long as gold and silver are allowed to return as competitive currencies as well, the best currency or currencies will always win the battle for the widest acceptance and use. On the contrary, in reaction to Part 1, those that dislike Bitcoins focused only on trying to discredit the positives of Bitcoins I stated, even though I was very careful to point out the flaws of even the positives, including that Bitcoins were open to significant manipulation in price because of susceptibility to control of its nodes and to the common trait it share with all fiat currencies – being a digital currency backed by air. Again, comments surrounding my Bitcoin article were an interesting exercise in human behavior as we tend to seek out facts that only support our point of view while paying no attention to all other facts that discredit our point of view. This is the essence of the human ego. Read the rest of this entry »
A lot of people have asked my opinion about bitcoin and I often have given a generic answer similar to the following: “Bitcoin is better than fiat but worse than physical silver or gold”, an answer that seems to make bitcoin fanatics lose their minds as if I am “hating” on bitcoins. However, this is so far from reality that I decided to write a more detailed explanation about what I like about bitcoin but why I don’t consider bitcoin to be sound money, nearly as solid (no pun intended) as owning 100% physical gold or physical silver, and why precious metals still trump bitcoins on a risk/reward analysis enough to prevent me from buying any BTCs. I think if you are a bitcoin advocate that you will find my logic in this article to be totally rational. Bitcoin is infinitely better than fiat money because unlike fiat currency, in which only a few families in the entire world maintain the power to create this type of money, with bitcoin, those that own infrastructure with enough of the considerable processing power necessary to run the bitcoin network can create new bitcoins. So while there are computer infrastructure limitations on who can create new bitcoins and not everyone has the money to own the type of infrastructure needed to create bitcoins, this is the only limitation one has on being able to create new bitcoins until the maximum pre-designated limit is reached. However, this barrier to entry is a significant barrier as, according to the World Food Program, nearly 1 in 7 people suffer from malnutrition and go to sleep hungry every single night and it is doubtful that any of these people could ever afford a $2,499 50GH/s bitcoin miner. Furthermore, nearly 2/3rds of the world, according to statistics compiled by Nielson Online, the International Telecommunications Union, et al, are not yet connected to the internet, which makes it problematic to create or purchase bitcoins for a large percentage of the world’s population. However, it is a myth propagated by the anti-Precious Metals community that gold and silver are beyond the reach of the world’s poor. In India, there are prolific anecdotal stories of the poor converting rupees into gold when it is possible for them to do so to guard against the wealth destruction inflicted upon them by Indian bankers. Read the rest of this entry »
With all the scorn and indignation over the IMF and ECB’s attempt to steal anywhere from 9.9% to 15.6% of all Cyprus bank accounts in excess of €100,000, and with this anger certainly justified, one would think that people’s scorn over banker theft via inflation, since this mechanism of banker theft has been executed at exponentially higher rates over the past several decades, would have bordered on blind rage. Globally, we have experienced 24% devaluation of the yen to begin 2013, 25% of the Pound Sterling and the Euro at the end of 2008, 53% devaluation of the Korean Won in little over a year’s time in November, 1997 and 98% devaluation of the US dollar in the last 80 years. Since all of these instances of theft exponentially outpace, and are far greater than, the one time 10%+ proposed theft of all Cyprus bank accounts, why haven’t we been infuriated by these far greater thefts by bankers from our savings accounts? To begin, we need to stop sugar-coating facts in deference to bankers and stop calling inflation a “silent tax”. It should no more be called a “tax” than should the latest attempt of bankers to steal from Cyprus bank accounts ever be referred to as a “tax”. When theft is referred to as a “tax”, it is because bankers have conditioned us to think of paying “taxes” as a part of being a “good citizen” of your nation, so they attempt to frame pure theft as just a “tax”. However, inflation is 100% theft. The bankers’planned theft of Cyprus bank accounts has been severely complicated by the secret domiciling of hundreds of billions of euros by Russian oligarchs in Cyprus, and this factor is likely a contributor to the rejection of this theft by the Cyprus parliament (for angering the type of Russians that have huge accounts in Cyprus is, as Russian President Putin, stated, far more “dangerous” than angering IMF bankers).
I discuss in the below video, why we’ve all already been “Cyprus’d” to a far greater degree than Cyprus citizens can be Cyprus’d, and how we can stop being Cyprus’d in the future. If you would like to view the below video directly on the YouTube page, please click here.
About the author: JS Kim is the founder of SmartKnowledgeU, a fiercely independent investment research & consulting firm with a focus on the Precious Metals of gold & silver. Our mission is to end our current counterfeit monetary system of fiat money and to reimplement a 100% gold or gold & silver backed monetary system that serves all 7 billion global citizens instead of just serving a few dozen banking families. Follow us on twitter @smartknowledgeu or on our YouTube channel here. Don’t forget to bookmark us this page and re-visit us in the future for our future commentary and to sign up for our free newsletter on our homepage here.
Bankers Have Flipped Monetary Truth Upside Down
Bankers have flipped the paradigm of monetary truth upside down today. People believe in fiat digital money that is, by definition of the term, counterfeit and have zero belief in money that is real, and thus lasted over 5000 years of global history. In fact so few people today have an understanding of monetary history and truth that when I tell them that all money in wide use and circulation today is the equivalent of counterfeit money, even though this is true, they look at me like my beliefs, not their beliefs, are crazy. Hopefully this article will finally open some eyes and answer the question, “What is money and what is not?”
Executive Order 6102 Was Passed to Force Americans to Use Counterfeit Instead of REAL Money
In 1933, US President Franklin D. Roosevelt betrayed America and signed Executive Order 6102 into law, making physical possession of more than $100 of gold illegal and punishable by a $10,000 fine and 10 years of prison, to bail out the private Rothschild banking family that controlled and owned the Bank of England, because the Rothshchilds had counterfeited the Pound Sterling to finance World War I. Pre-WWI, the pound was 15% backed by gold reserves. Post-WWI, because the Rothschilds had created pounds of thin air backed by nothing and failed to maintain the gold standard, the pound was only 7% backed by gold reserves. Yet, the Rothschilds and the Bank of England refused to revalue the gold/pound exchange rate. However, back then, unlike today, people understood how money works, called the Rothschilds on their scam and started converting their heavily counterfeited and devalued pounds into gold at the pre-WWI gold/pound exchange rate, knowing that they were receiving more gold per pound than the gold reserves (backing the pound) held by the Rothschilds should dicatate. This is why the thought of a return to a monetary system of gold and silver money absolutely terrifies the criminal banking cartel so much. Note that this is completely different than the criminal banking cartel fearing gold ownership for themselves. They are snapping up as much physical gold as possible right now. They just don’t want YOU to own any. A 100% gold backed monetary system (the only kind of gold standard I support) allows the people to punish the bankers and take their wealth when they try to cheat us. A counterfeit fiat digital system, the kind we all use today, however, allows bankers to perpetually steal wealth from all of us. Under our current counterfeit monetary system of fiat digital currencies, of course we can still choose to convert our counterfeit digital money backed by air into the real money of physical gold and silver, but so few people choose to do this. So let’s explore why. In order to stop their gold losses, the Bank of England asked the US Federal Reserve to start counterfeiting US dollars to weaken the dollar against the pound. With heavy devaluation of the two major global currencies at hand and the ongoing collapse of the German mark, when the Reichsbank hyperinflated marks to such a degree that the largest denominated note increased from just 1000 marks to an insane 100,000,000,000 marks in short time (yes, there was a 100 billion mark note back then, probably the inspiration for Paul Krugman’s idiotic suggestion of printing ONE TRILLION dollar coins to pay off the REAL US national debt of $200+ trillion), many people justly and rightfully preferred converting their treasonous devaluing paper fiat money into the real money of gold. Read the rest of this entry »
Someone commented on my last article that no one was going to read the whole article because it was too long and that I needed to present my points visually instead. While I respectfully disagree with the premise that no one would read my last two articles just because they were a little bit lengthy in comparison with newspaper articles, I wholeheartedly agree that the use of visual mediums is often a more effective tool in conveying one’s message than the use of only words. Last week, I stumbled upon a YouTube video from LarkenRose called “The Tiny Dot” (thanks to a comment on one my videos) that explains how just a few people can easily control the actions of many. So I am presenting it below.
Secondly, the use of social media has been beneficial in many ways, allowing people to share ideas very quickly with strangers in far away lands. However, there are also some very definitive drawbacks to social media as well, including the granting to tyrannical governments of an instantaneous digital “footprint” that records a person’s thoughts and movements over many years. Furthermore, given the exploding popularity of the instant-gratification paradigm of social media, social media has also been very detrimental in many ways to our quality of life by decreasing our levels of patience and our socialization skills, while simultaneously increasing OCD-like behavior among many of us. Thus, I plead of you to “Take the No Facebook, No SmartPhone Challenge” with me. You just may discover that this challenge will greatly improve the quality of your life for a week. See you in a week!
About the author: JS Kim is the founder and Managing Director of SmartKnowledgeU, a fiercely independent investment research & consulting firm that focuses on gold & silver as a means of resisting the tyranny of the global banking cartel and of restoring sound money that would lay the foundation for the reintroduction of sustainable, organic economic growth to the world. Follow him on twitter @smartknowledgeu, & sign up for his free newsletter here.
“None are more hopelessly enslaved than those who falsely believe they are free.”- Johann Wolfgang von Goethe
Below is the nine step process bankers have used to enslave us all with nary a peep of resistance until recent times. Hopefully recognition of this process can help us to free ourselves from the grip of bankers that wish to financially destroy us all.
(1) Teach lies as truth like “markets are free” and “we need to spread democracy to the rest of the world.” Plant agent provocateurs in all movements of resistance like OWS to discredit these movements whenever possible.
Bankers teach lies like “free markets exist” throughout all business curricula taught in the institutional academic system. When Central Banks set artificial interest rates, this means the free market is not setting interest rates. Bankers are rigging stock markets, real estate markets, currency markets, and commodity markets all for their benefit only and to the detriment of all other humans on our planet. Furthermore, if you study democratic principles and whether governments that claim to be democracies actually abide by these principles, you will discover that most every “democratic” government operates on a fascist platform and not a democratic one. Stating that a free market co-exists in a country in which a Central Bank retains the monopolistic power to set interest rates is as impossible a relationship as the physics maxim that states two objects cannot occupy the same space at the same time.
In the past several years, people worldwide are slowly beginning to shed the web of deceit woven by the banking elite and learning that many topics that were mocked by the mainstream media as conspiracy theories of the tin-foil hat community have now been proven to be true beyond a shadow of a doubt. First there was the myth that bankers were upstanding members of the community that contributed positively to society. Then in 2009, one of their own, Paul Volcker, in a rare momentary lapse of sanity, stated “I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence.” He then followed up this declaration by stating that the most positive contribution bankers had produced for society in the past 20 years was the ATM machine. Of course since that time, we have learned that Wachovia Bank laundered $378,400,000,000 of drug cartel money, HSBC Bank failed to monitor £38,000,000,000,000 of money with potentially dirty criminal ties, United Bank of Switzerland illegally manipulated LIBOR interest rates on a regular basis for purposes of profiteering, and though they have yet to be prosecuted, JP Morgan bank, Goldman Sachs bank, & ScotiaMocatta bank are all regularly accused of manipulating gold and silver prices on nearly a daily basis by many veteran gold and silver traders.
In honor of December 21, 2012, a date that a few elements in the West have used to bastardize the Mayan calendar with apocalyptic predictions, we present to you a philosophical debate. Felipe Gomez, leader of the Maya alliance Oxlaljuj Ajpop, told the AFP news agency, that December 21, 2012 only marks the end of one of the Mayan calendar cycles and never predicted the end of the world. The final 400-year cycle of the calendar, the 13th b’aktun that completes a 5,200 year era, will complete on December 21st.
“We are speaking out against deceit, lies and twisting of the truth, and turning us into folklore-for-profit. They are not telling the truth about time cycles,” Felipe stated. In a statement released by Oxlaljuj Ajpop, to the Mayans the end of the 13th b’aktun is important not because it means the end of the world but because of its spiritual significance in predicting “big changes on the personal, family and community level, so that there is harmony and balance between mankind and nature.”
In honor of this new spiritual awakening predicted by the Mayans, we address the question, “Is it possible to be moral and still work in banking?” We believe that because the Rockefellers and Rothschilds created our “modern” banking system with the express diabolical intent of transferring the wealth of nations to themselves with zero work and of preventing the people of these nations from revolting through the imposition of debt enslavement achieved through the administration of the fractional reserve banking system, the answer to this question is a definitive “NO”. The banking industry, as evidenced by the operational platform of the now-defunct Municipal Bank of Amsterdam founded more than 400 years ago, is completely capable of returning to a moral industry through the use of sound money principles. However, as long as today’s banking industry retains the complicit silence and support of good people that continue to work in an immoral industry, banking will never return to be the moral industry it once was. Read the rest of this entry »
With youth unemployment at 56.4% in Greece and 55.9% in Spain, with nearly 1/3 of 25-34 year olds in America living with their parents, with more than 100,000,000 in China still earning $1 or less a day, and with food prices rising by more than 32% since 2007 in the UK, all due to immoral Central Bank monetary policies that deliberately devalue global fiat currencies in a race to the bottom, a gold standard is quite capable of returning the world to global economic prosperity and ushering in one of the most stable economic growth periods in the history of the world.
For example, the Central Banks’ propensity to deliberately destroy wealth is easily illustrated by the current conditions that they have created in global bond markets, where despite the high risk of owning sovereign bonds, Central Banks refuse to offer higher yields for the public assumption of this enormous risk, and in fact, in some countries, have even goaded the public into paying them interest (negative yields) on government bonds issued in Germany, Finland, Denmark, Switzerland, Netherlands, and Austria (with France among other countries likely next in line). Central Banks have successfully sold their propaganda that government bonds are “safe havens” for decades to the public, and the public has gobbled up this heaping mound of rubbish hook, line, and sinker. Read the rest of this entry »
Bankers have engaged in a huge misinformation campaign against gold and silver to deliberately keep people out of buying physical gold and physical silver and the best mining companies, that while paper, are backed by actual physical gold and physical silver. If you’re a newbie thinking about buying gold and silver assets for the first time ever, here’s what you need to know. Read the rest of this entry »
For those of you that have followed my writings for the past 7 years on my blog, theUndergroundInvestor, you are well aware that I have been advocating conversion of the majority of fiat currency savings into physical gold and physical silver as a means of combating the system of financial enslavement that the bankers have tried to impose upon the people in every country around the world. The bankers are now entering the second phase of their enslavement through the imposition of austerity measures on people that can least afford this imposition. Though we, at SmartKnowledgeU, have been advocating the purchase of physical gold and physical silver since the mid-2000s as a means of destroying the monetary slavery system of the global bankers, very few of those that have read my arguments still understand why this is a viable approach to gaining freedom from the control of bankers. Thus, I have often thought about alternate ways to explain my arguments that may be easier for the masses in general to digest and grasp. At times, I have even provided short discourses that only deal with psychological enslavement in an attempt to free people’s minds from Central Banking propaganda that continues to enslave them (see my videos about ideological subversion below). Read the rest of this entry »