The Carney Factor comes July 1st, 2021. The Big Change in Crypto?
The Carney Factor comes July 1st, 2021. The Big Change in Crypto?
(And no, he doesn’t have tiny carney hands.. 😉 )
Now here is a big question for you: “Do we really need Central Banks in a world moving back to Metals and into CryptoCurrencies?”
Mark #Carney, the outgoing Bank of England Governor and the first foreigner to have the job (He is Canadian and had the job there too, under Stephen Harper) hints as much with his stilted embrace of concepts found in the FB Libra offer under development.
Is Carney just another Opportunist shopping for a new gig?
Maybe…
All public signs would indicate Carney is likely looking to change the playing field by shifting focus away from the woes of the current central bank controlled fiat system, while in parallel he shops his ample financial grey matter to the highest bidder while he officially lobbies for Central Bank issued Crypto via the B of E. hmmm.
So What?
Where ever Carney moves to, and what type of gig he gets, we in the crypto space need to pay attention. Carney’s next move will impact the current crypto market and the value assigned to your favorite crypto store of value.
Carney is that well connected in the world of Finance and Central Banks. He is that well respected (mainly for saving Canada’s ass in 2008, when all other Countries tumbled).
But first, we need to understand a few more facts to really understand what that new “Carney Factor” impact might look like.
Central Banks: Any Governments’ printing press friend
Well today, money is authorized for printing by most Central Banks either exclusively generated by commercial banks, who create money when debt is issued, and in certain cases, (very few, in fact, the Bank of Canada is one of them as its owned by all Canadians) the Central Bank can also issue its own money directly to finance government projects.
Most of what Countries print via the private banking system is really governed by the laws in place (created by the legislative branch of government, the house of parliament and in some cases senate vote on tabled legislation, yes the people you elect to decide how wealthy the banks get), laws which control debt issuance in private banks, with most having little if any real government or central bank oversight. Private banks since 1971 have been lending large amounts of money to inflate asset prices of homes and buildings to the point where the prices in those markets are so high, no one can really pay-off their mortgage these days.
Keep in mind the price of bread has doubled in most cases in the last 10 years, and real wage growth has been flat for 30 years. Your buying power has been eroded badly and you have no say in it. Go figure. It’s the biggest transfer of wealth in history to bank shareholders and corporations with access to low interst debt (debt rates you will never see), and not many regular citizens of this earth seem to notice, as long as they get a bigger line of credit and higher credit card limits to keep paying their mortgage and those nasty ever growing bills. Sigh. (maybe a “baa” is in order too..)
n.b -A Central Bank issuing all the money the country needed to represent the growth in the economy based on GDP “Gross Domestic Product” was the case in Canada from 1937 to 1968 before Pierre Elliot Trudeau was installed by vested interests looking to see Canada lean left towards Keynesian overspending, higher taxes in the name of securing immigrant and female voters entering the Canadian workplace for the first time, IMO, which is my own. Then all fiat hell broke loose in 1971 when the world went off the gold standard. Interestingly gold was recently and quietly added back into the basket of currencies/funds by the IMF International Monetary Fund, March 29th, 2019, go figure.)
The Canadian “Central Bank” Exception?
Today the Bank of Canada, which is publically owned by Canadians, only issues about 5%–10% of the money supply annually, usually issued and provided to finance Federally approved and authorized projects at zero interest. When the project is complete the loan is extinguished and the new asset goes on the government books. The other 90% remaining is issued by private banks as 100% debt issuance with interest attached primarily for buying hard assets like housing, building, and privately-owned equipment (try to get a bank to loan you working capital for a software startup, lol) , even in the case of loaning that money back to the governments, federal, provincial and municipal, always charging interest. This is why the public federal, provincial and municipal deficits in Canada are out of control, and more out of control in pretty well every country in the world.
Fact: Most Canadian households in 1968 had no choice but to move to dual income, creating a generation of latch key kids, given the higher taxes Trudeau’s Liberals needed to pay for private bank debt issued back to the government with interest charges to pay for their new social program largesse, which up until that time had never been the case that the government took on debt to finance projects. Combined with no real wage raises for the next 15 years for the primary income earner in the household, the result has been the complete erosion of the middle class in Canada to working-class wage-earning levels, where education debt is now it the highest levels ever.
The Gig is up. No Need for Central Banks in the medium term.
Most of us have figured this out in the crypto space. We store value and perform transactions over psuedo-nonymous and anonymous distributed public ledgers or “Blockchains”. It works and is getting better every day. Take your pick. #Bitcoin, #Ethereum, #Litecoin, #Monero, #Cardano, #Tron, #IOTA, #Dash, #Zcash, #Dogecoin, all the big ones work as advertised, and lots of the little ‘Market Cap” coins and tokens under US $100M in value also work well, today. The only big hurdle is converting your crypto into fiat so you can buy items and services in the fiat dominated product and service world of “Main Street”. (Retailers and Service Providers please wake up, your store of value and buying power are also getting eroded by fiat daily.)
Crypto Rules, while Central Banks drool:
Carney knows one thing well, the central banks around the world have no ability to shut down Bitcoin and other crypto_currencies now being used as stores of value and increasingly being used as international settlement mechanisms between local and international parties, essentially replacing the use of legal tender in each country and bypassing SWIFT and IBAN completely. The Central Bank Fiat Ponzi Scheme Party is over and Carney knows it.
In most cases, these cryptocurrencies have a stated and fixed Money Supply amount of coins or tokens, all of which are divisible and fungible. This means you are inflation-protected from money printing (unless they are #Ripple where not all the coins are in circulation but they are issued, where Ripple could dump a huge supply of coins at any time and crush your store of value there with one keystroke. Not Nice. )
Because Crypto works today as a store of value and has multiple settlement/payment systems, the money printing presses driven by the Central Banks to prop up their installed governments are now obsolete, and most of the big Central Banks know it, and they are worried, really worried, of losing complete control.
Libra will Morph under US Regulations currently being written
Libra will arrive and create a new money supply the FB Faithful will use because they can and it will be convenient and trusted (Baa, sheeps to slaughter in terms of buying power erosion?), and it scares the shite out of the Central Bank Cartel. (In most cases you don’t own your own central bank in your country, its run by private banking interests).
FB #Libra and their 22 credit card and financial cohorts creating their own money supply?
What position does Libra put the Central Banks in?
One they don’t like or want.
Well, the smart “roaches” running these Central Banks are already scurrying for a new gig, and Carney is the first (and likely one of the biggest)to make a break for it looking for a new gig with a big paycheque come July 1st, 2021.
IMO Carney will go to the highest bidder, likely a Rothschild influenced crypto venture (government or private) to stay under the same management he enjoyed in Canada and the UK, which means it won’t be Facebook hiring Carney, a known Rockefeller inner circle play. But the two camps will share information via Carney to try and engineer the new status quo by co-opting the major cryptocurrencies with “something new”. That IMO is a certainty.
It’s a tall order: Unseating Bitcoin Market Dominance with Central Bank Cryptos:
Bitcoin unseated as the dominant cryptocurrency in terms of Market Cap and transaction volume daily could very well happen and, is likely to happen, sooner rather than later, when Rothschild and Rockefeller’s financial circles and trillionaire wealth rapidly get behind the cryptocurrencies of their choice with their Trillions of fiat converted into crypto-currencies which serve their best interests.
Libra on its way, sooner rather than later, partly supplanting Wall Street
IMO FB Libra will happen, Libra represents the old status quo in North America and parts of the western world (with powder and lipstick, plus faux private blockchain, with Rockefeller circles behind the curtain operating the controls. The form Libra takes will be different from what we see today, likely to be blanketed and blessed with new regulations issued by the USA government to create a replacement “gambling hall” partly co-opting on Wall Street with a new online one which makes it easy for those incumbents to migrate to the new store of value and settlement system selected using, for the most part, their existing tools.
There will be not a lot the current crypto community can do to stop Libra.
The Carney Factor: The New Court Jester of “Crypto Redefined”?
Carney is another story. Let’s examine the possible routes Carney might take:
1- Back to the Great White North: He could land back in the Bank of Canada hired by Andrew Scheer (if Scheer wins) a 30% likelihood or less, provided Carney gets a new government contract and mandate to help create a similar store of value and payment system to a Libra, possible a job to convert Ethereum into a real working payment and settlement system backed and accepted by the Canadian Government. Heck New Zealand today allows employees to be paid in BTC, think of the Eth “gas” fees the Canadian government could rake in on every transaction, the government might even become self-funding and set up their own mining rigs. 🙂 (lol)
2- OZ or Kiwiland? Another likely possibility is Carney heads east to a Non-China Aligned Country, maybe Australia but more likely New Zealand, which they say is more British than the UK these days, we will give that one possibility a 30% likelihood with the same mandate suggested in the Canadian example. NZ is reforming around crypto pretty quickly after arresting Kim.com for the US Govt, so the world is changing.
n.b.- Carney is unlikely to end up in a SWIFT or Iban non-aligned settlement environment so that rules out China, Russia or any of the BRICS countries, even though his current Rothschild Management umbrella (they manage the Queens Account and the Vatican bank directly) would like to fantasize that sort of infiltration, I can’t see it happening.
3- The Private Sector Options: So where will Carney go in the private crypto sector, if he ends up there at all (a 30% likelihood). Look to Europe, he knows the players and is familiar with the crypto market there as well, after all, he is one of the Central Bank’s brightest, and least they say so. Here are few thoughts for the reader to consider:
a- The biggest crypto project by far in Europe is #IOTA. That said their founders are fiercely independent and are on a mission, backed partly by Bosch, together with the German automobile giants and others, all of which are tapped into Rothschild controlled banks to get the debt they need to run their operations. They aim to create the Machine to Machine Economy based on feeless microtransactions and they are getting close.
b- There is also tiny MaidSafe in Scotland (close to Carney’s current home) and the SafeNetwork and Safe Coin they are about to release in 2020, after 14 years of solid research and development, it’s a worthy project, pre Bitcoin in its design and has benefited by closely observing the advances in crypto and carefully crafting their offer with the market’s best improvements to scale tps and ensure anonymity while letting you selling storage or “Vault” space to other users for safe Coin , however, the Safe Network settlement layer is completely private and anonymous so less a fit, if Carney stays under Rothschild Management purview. Maidsafe is UK based, so it could be an easy “small play” as Carney is getting older (however his ego isn’t getting any smaller..) and could play a huge role there.
c- Then there are other cryptos like Dash and Zcash which have coerced Blockchain into settling quickly with side chains, shards, and other tricks, they both work today and well, with minimal fees and could challenge BTC dominance. Carney could be enlisted by such a project become more widespread in use as an international payment and settlement layer, given his connections, not to mention a great store of value using blockchain tech smartly.
d- The Smart Contract market in play today, which is largely centered around the Ethereum community, is a Candian invention. #ETH is poised to solve the TPS “Transaction Per Second” performance problem with ETH 2.0 expected to be released in 2020. ETH might be a very real possibility for Carney, however, it would require Carney to break from the Rothschild invisible grip on his “Keynesian soul”, and possibly adopt the Austrian Economics. Heck anything is possible.
In Trump we Trust? Is Carney a USA July 4th, 2021 Wild Card play?
One thing for sure is money is Carney’s god, and he is an opportunist reading his latest posturing in his Jackson Lodge, USA speech and the annual meeting of the FED. (Where for sure he was getting their view on what he should or should not do from the Bipartisan Rockefeller-Rothschild directed FED camp there which has been busy fending off the 100% Rothschild (Wilbur Ross) managed Trump White House).
Could Carney end up working for # Trump? (that is If Trump survives alt-right abandonment “we hate you” voting in 2020. Trump might survive (50/50 chance) largely because the current slate of Dems make must right-wingers in the USA gag.)
A USA Government enlistment of Carney is yet another crazy but viable possibility, as who can predict what the Orange Man will do (or his incoming puppet replacement if the Dems win, it could even be Sleepy Joe Biden)
Heck, anything is possible when it comes to Carney heading to the highest bidder in Crypto land with his management’s best interest in mind.
Remember the date of July 1st, 2021- The Carney Factor will kick in
One thing for sure, where ever Carney lands, it will signal a groundswell change in direction of Rothschild and Co.
So keep your eyes and mind wide open, and be prepared to respond and protect your existing stores of value in crypto.
Carney will probably announce his departure and destination before that, likely a year or nine months before, so that means July 1st, 2020 to October 1st, 2020 are a good time to check in on where Carney is going.
In the means time make sure your 50% invested in metals, gold and/or silver, take your pick, it will be a wild ride up as things get steamier and steamier out there.
r2
*****
Published at Thu, 12 Sep 2019 23:31:32 +0000
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By trendingtopics on 2019-04-07 06:32:00
