just when you think you're starting to understand bitcoin a little bit, you then watch something like this
The presentation revolves around the multifaceted realm of on-chain
privacy in the context of Bitcoin and other cryptocurrencies. It begins
by emphasizing Bitcoin's fundamental role as hard money with political
implications rather than a mere consumer payments network. The
challenges of privacy on public blockchains are explored, considering
approaches like CoinJoin and their limitations, such as transaction
size, central coordination, and fee-related vulnerabilities.
In
response, a novel concept, "steganographic decentralized market-based
CoinJoin XT," is introduced, aiming to enhance collaborative
privacy-enhancing transactions. This approach involves pre-signed
transactions, multi-sig UTXOs, and customizable pay join scenarios for
improved privacy and safety. Furthermore, complex transaction structures
that obscure inputs and outputs to break subset sum analysis are
discussed, leveraging inter-participant payments, time locks, and
cryptographic techniques. However, potential challenges in incentivizing
participants, handling off-chain to on-chain privacy bleed, and
addressing market-related issues are acknowledged. The conversation also
touches upon ensuring that payments occur only when the receiver
delivers the goods, involving "hodl invoices," atomicity, Schnorr
signatures, and linearity in signatures. The latter offers a robust
approach, even with multiple parties, through commitments and verifiable
adapters. Additionally, an exploration of off-chain fee payments
highlights their advantages in reducing blockchain footprint and
enhancing privacy but underscores the significance of addressing
potential payment failures, transaction timing, and backup strategies.
Finally, the challenges of quantifying privacy and block space
efficiency, particularly in large groups of participants using complex
structures like CoinJoin XT, are addressed, emphasizing the impact of
adversaries with knowledge about specific transactions and the need for
solutions, including markets, to enhance privacy in cryptocurrency
transactions.
hope nostr brings about content like this again
bitcoin rids us of product obsolescence
It's been a great week for the price of bitcoin, increasing by $2,890 or +10.77% over the last 7 days. However, there is a critical lightning network vulnerability and a regulatory attack on the horizon that you should all be aware of.
https://tftc.io/lightning-bugs-and-regulatory-attacks-on-bitcoin/
is uncle lou still bullish on lightning? lol
bitcoin or shitcoin?
https://bitstein.substack.com/p/toward-a-node-world-order
'Citizens' constant vigilance is more effective in preserving a stable currency than numerous laws and bureaucratic agencies.'
The
text discusses various topics related to economics, money, and the role
of bitcoin.
It emphasizes the importance of technological innovation and the
accumulation of capital goods and technology for economic growth.
It also highlights the role of money as a medium of exchange and the
historical use of gold as money.
The text mentions the challenges and vulnerabilities of using gold as a
medium of exchange and the potential benefits of using bitcoin.
It argues that running a full node and holding private keys is necessary
for ownership, scarcity, and censorship-resistance in the bitcoin
network.
The text suggests that bitcoin has the potential to become a global
reserve currency and upgrade the economic operating system.
It concludes that dependence on bitcoin will grow, leading to increased
security and productivity in the economy.
a reminder of a great presentation by Giacomo:
Alex Gladstein introduces Giacomo Zucco to discuss Bitcoin cultures, a topic they previously explored in a podcast. Zucco highlights the multidisciplinary nature of Bitcoin that requires understanding of engineering, economics, and revolutionaries. He argues that the overlap of different cultures is essential to Bitcoin's success. He notes how libertarians, technologists, and revolutionaries all have unique perspectives on Bitcoin. Zucco believes that regardless of their differences, they all share a common desire for freedom and a distrust of centralized power. He argues that Bitcoin's success lies in its ability to bring these different cultures together and create a shared vision of a decentralized future. Zucco also discusses the importance of privacy in Bitcoin and how it empowers individuals to take control of their financial lives. He encourages the audience to continue exploring and embracing Bitcoin's multidisciplinary culture to help achieve the goal of decentralization.
Bullet Summary:
- Bitcoin's multidisciplinary nature requires understanding of engineering, economics, and revolutionaries.
- Different cultures such as libertarians, technologists, and revolutionaries all have unique perspectives on Bitcoin.
- Bitcoin's success lies in its ability to bring these different cultures together.
- Privacy is crucial in Bitcoin to empower individuals to take control of their financial lives.
- Embracing Bitcoin's multidisciplinary culture can help achieve the goal of decentralization.
if a build doesn't have to ask for permission then i see no problem in it being on bitcoin
a lot of luddites that only want bitcoin used their special way
bitcoin is for anyone
just play by its rules and we can all get along
pretty nice work on the documentary series nostr:nprofile1qqs2auxkkgfgylem580xrztp8ek5sf83s86k0vfq2feuz6y4lkhskgcprpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctvqyv8wumn8ghj7mrfva58gmnfdenhyetvv9ujucm0d5q35amnwvaz7tmjv4kxz7fwdehhxarjvaexzurg9ehx2aqlhh4pr
a good one to send to the normies out there
bitcoin does fix a lot, it would seem
fiat sucks use bitcoin
nostr marketing department need to get on this asap, before shitcoinery captures the narrative on 'blockchains can help regulate AI disinformation'
nostr or OpenTimestamps fixes this?
nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx nostr:npub1dergggklka99wwrs92yz8wdjs952h2ux2ha2ed598ngwu9w7a6fsh9xzpc
when you realise you accidentally butt-zapped from sitting on the remote
nostr marketing department need to get on this asap, before shitcoinery captures the narrative on 'blockchains can help regulate AI disinformation'
nostr or OpenTimestamps fixes this?
nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx nostr:npub1dergggklka99wwrs92yz8wdjs952h2ux2ha2ed598ngwu9w7a6fsh9xzpc
not sure a note i did got posted
super rare inscription to hodl probably lol
The Great Taking (2023)
00:00:00
In this section, the book "The Great Taking" by David Webb discusses the
concept of the taking of collateral, which refers to the end game of a
globally synchronized debt accumulation cycle. The author argues that a
small group of people, hidden from the public eye, control all major
institutions and are orchestrating a war against humanity. This war is
not fought with traditional weapons, but through deception and
manipulation. The book explores how this group plans to seize all
financial assets, including money, stocks, bonds, and property, in order
to concentrate wealth and power. The author also delves into the idea
of a digital currency controlled by central banks, which would result in
a loss of personal property and the potential for unprecedented
deprivation. The book draws parallels to previous periods in history,
such as the Great Wars and the Great Depression, to highlight the
potential for mass wealth transfer and control over humanity.00:05:00
In this section, the narrator discusses the relationship between money
supply velocity, GDP, and the decline in the velocity of money
throughout history. He mentions economist Milton Friedman and his
observation that the velocity of money sharply declined from 1880 to
World War I, coinciding with the collapse of various empires and
economies. The narrator argues that the decline in velocity was
intentional and used to consolidate power. He also points out that he
noticed the Federal Reserve's influence on financial markets during his
time managing hedge funds, as money creation was not leading to real
economic growth but instead driving a financial bubble. He concludes by
stating that crises are intentionally induced to consolidate power and
that the collapse in money velocity is a recurring phenomenon.00:10:00
In this section, the speaker discusses the collapse of the economy and
the confiscation of gold in 1933, the recovery during World War II, and
the subsequent collapse to a low point in 1946. They argue that the
current contraction of the economy is even worse than during the Great
Depression or World Wars, and that printing more money will not help.
The speaker suggests that the announcement of the great reset may not be
motivated by global warming or the fourth Industrial Revolution, but
rather by the collapse of the monetary system. They claim that
dematerialization of securities was a strategic move planned decades
ago, with the CIA playing a role in the project. The speaker also
mentions the formation of the Depository Trust Corporation (DTC) and the
transition from physical stock certificates to computerized entries.
They question whether the paperwork crisis was manufactured to push for
dematerialization and highlight the timeline of DTC's operations,
implying that functioning stock exchanges during that period contradict
the urgency of dematerialization.00:15:00
In this section, the excerpt explains how the concept of security
entitlement has replaced the ownership of tradable financial
instruments, such as securities. This legal concept allows certain
entities to treat these instruments as their own assets and use them as
collateral for borrowing money. The horror lies in the fact that these
securities, which were once considered personal property, can be seized
by secured creditors without judicial review in the event of insolvency.
The system of hypothecation and rehypothecation further enables the
reuse of the same collateral multiple times, making the derivatives
complex much larger than the global economy itself. This deception has
been facilitated by amending the Uniform Commercial Code in the United
States, gradually subverting property rights and leaving even
sophisticated investors unprotected.00:20:00
In this section, it is explained that courts and account providers have
the legal authority to borrow pulled Securities without restrictions,
known as self-help. This concept aims to use all Securities as
collateral. The evidence for this is documented and undeniable. In 2004,
the European Commission proposed the establishment of a legal certainty
group to address legal uncertainty in clearing and settlement. In 2006,
the Deputy General Council for the Federal Reserve Bank of New York
provided detailed responses to the group, highlighting the use of US
commercial law in empowering secured creditors to take client assets in
the event of custodian failures. The excerpt demonstrates that legal
uncertainty can lead to potential vulnerabilities for investors and the
prioritization of secured creditors. It also touches on the handling of
shortfalls in practice.00:25:00
In this section, the excerpt discusses the concept of security
entitlements and the potential implications it has on ownership. It
explains that in the US and Canada, investors are viewed as owning
securities entitlements rather than securities themselves. This allows
for greater availability of assets as collateral but raises concerns
about the stability of the system. The use of omnibus account structures
also increases the risk of unauthorized use of client assets and the
potential for clients to become unsecured creditors in the event of a
default. The push for legal certainty and mobility of collateral
globally, driven by powerful creditors, raises questions about who truly
benefits from these changes and whether citizens have been betrayed by
their own governments. The excerpt suggests that financialization and
the pursuit of financial profits have been used to harm nations, and
that the global harmonization of legal certainty has been orchestrated
to serve the interests of certain secured creditors.00:30:00
In this section, the narrator discusses the Hague Securities Convention,
an international treaty aimed at providing legal certainty for
cross-border securities transactions. The convention introduced a
conflict of laws rule called the "place of the relevant intermediary
approach," which determined the applicable law for collateral
transactions. The drafting of the convention involved key individuals
like James S. Rogers and Professor Egan Gutman, who had expertise in
securities transfers and secured transactions. While the EU did not sign
the convention due to conflicts with European law, the objective of
providing legal certainty to creditors was recognized and accepted by EU
authorities. This is evidenced by Directive 2002/47/EC, which aimed to
improve the legal certainty of financial collateral arrangements.00:35:00
In this section, the transcript excerpt discusses the Euroclear system
and its recommendations for addressing legal barriers in cross-border
activity. Euroclear suggests the removal or modification of requirements
that hinder the implementation of major initiatives, including
recognizing the multi-layer holding structure and the rights of
nominees. Additionally, they recommend eliminating impediments to the
free use of collateral across borders. The excerpt also mentions the
appointment of Diego Devas as the General Counsel of the Bank for
International Settlements, his warning about the undermining of property
rights to securities, and the implementation of the Central Securities
Depository Regulation by the EU. However, despite raising awareness
about these issues, it seems that many professionals and clients were
indifferent or unaware of the implications.00:40:00
In this section, the transcript excerpt discusses how the European
Securities and Markets Authority (ESMA) plays a crucial role in
post-trade harmonization efforts in Europe through the Central
Securities Depositories Regulation (CSDR). The CSDR enables the transfer
of legal title to customer collateral and the use of customer
collateral through links between national and international Central
Security Depositories (CSDs). The excerpt also highlights the case of
Euroclear acquiring the Nordic Central Security Depository (NCSD),
leading to changes in property rights to securities in Sweden and
Finland. These changes resulted in the erosion of property rights,
transforming the countries from having the strongest property rights to
securities to having no property rights beyond an artificial appearance
of ownership, as dictated by the EU directive on CSDs.00:45:00
In this section, the transcript excerpt discusses a clause in Sweden's
law on Central Security depositories and accounting for financial
instruments that allows for the legal control of customer assets to be
passed to the International Central Securities Depository (ICSD) without
the account holder's knowledge or approval. This gives the local
Central Security depository (CSD) broad authority to use customer assets
as collateral. The implementation of this clause has made it impossible
for Swedish citizens to hold Swedish government bonds in Sweden without
exposure to the insolvency of the account provider, the local CSD, or
the ICSD. The excerpt also mentions how financial institutions like
Handlesbanken and SEB have changed their account structures, further
complicating the ownership of securities.00:50:00
In this section, the transcript discusses the concept of collateral
management and its connection to regulatory reforms and central clearing
of derivatives transactions. It suggests that the demand for collateral
assets is not driven by true market forces, but rather by regulatory
fiat. The report mentioned in the transcript indicates that while there
is no evidence of scarcity of collateral in global financial markets,
the demand for collateral assets is being artificially created and
intensified. The objective of collateral management systems is to
provide cross-border mobility of collateral, allowing the largest
secured creditors behind the derivatives complex to control collateral.
The transcript also mentions the implementation of a global custodial
platform that aims to provide a single view of available collateral
regardless of location. Overall, the transcript highlights the
intentional design and execution of strategies to move control of
collateral to certain entities within the financial system.00:55:00
In this section of the transcript, the author discusses the services
available at ICDS (International Central Securities Depositories) and
how participants in the ICD can hold securities in the ICDS via link
arrangements with local CSDs (Central Securities Depositories). The
report also explains the role of collateral givers and collateral
takers, where both parties provide information to the ICD for collateral
obligations. The ICD then runs an optimization process and may
automatically generate collateral allocation instructions. If the
collateral giver does not have sufficient securities in the ICD, they
can transfer securities from their own account at the link CSD to their
securities account in the ICD. The report then introduces the concept of
collateral transformation, which is the encumbrance of client assets
under swap contracts without their knowledge. This process serves no
beneficial purpose for the clients and is done in times of market
stress. The automation and standardization of collateral management may
enable market participants to manage complex and rapid collateral
demands. The ultimate objective is to utilize all securities as
collateral, creating comprehensive collateral management systems.01:00:00 - 02:00:00The
YouTube video titled "The Great Taking" by David Webb discusses various
aspects of the global financial system, highlighting how it benefits
financial firms at the expense of ordinary people. It delves into topics
such as the unequal distribution of wealth and power, the concentration
of risks in central counterparties, concerns about the resilience of
clearinghouses, and the potential abuse of safe harbor provisions by
large financial institutions. The video also explores the deliberate
actions taken during the Great Depression by the Federal Reserve and
banks to consolidate power and control over assets. It raises questions
about the motivations and effects of these actions, as well as the
ongoing efforts to seize and control assets through the banking system.
The transcript further delves into the role of derivatives, the shifting
collateral backing for the banking system, and the risks posed by
large-scale derivatives in deposit-taking subsidiaries. It highlights
concerns about the safety of deposits, adequacy of deposit protection,
and potential consequences of a widespread banking crisis. The video
concludes by discussing trilateral exercises and coordination between
global financial sector authorities, raising questions about the motives
behind central bank digital currency development and its potential role
in a global hybrid war. Overall, the video presents a critical analysis
of the financial system and its impacts on individuals and society.01:00:00
In this section, the transcript explains how the global financial system
is set up to benefit financial firms and secured creditors at the
expense of ordinary people. When a crash occurs and prices plummet,
collateral management systems will automatically sweep all collateral to
central clearing counterparties and central banks, leaving no pockets
of resilience in any country. The deliberate strategy of inflating the
global bubble, driven by financialization, will ultimately lead to
disastrous consequences for many. The revised Safe Harbor provisions in
the US bankruptcy code ensure that secured creditors can take client
assets without challenge, further exacerbating the unequal distribution
of wealth and power.01:05:00
In this section, the concept of protected contracts, particularly swap
agreements, and the safe harbor provisions in bankruptcy law are
discussed. The safe harbors were implemented to mitigate systemic risk
in the derivatives market by allowing for the closeout of derivative
positions during a bankruptcy. However, the rush to closeout positions
and demand collateral from distressed firms can have negative
consequences on the markets. The safe harbor regime was solidified in
case law during the bankruptcy of Lehman Brothers when JP Morgan, as
both a secured creditor and custodian, took client assets. This set a
precedent that protected class secured creditors have priority claims to
client assets. The safe harbor provisions, although intended to promote
stability, have raised concerns about the potential abuse of these
protections by large financial institutions.01:10:00
In this section, the transcript discusses the role of CCPs (central
counterparties) in managing counterparty risk and clearing and settling
trades in various financial instruments. It highlights the concerns
surrounding the concentration of risks in CCPs and the lack of alignment
in financial regulations across jurisdictions. The transcript also
mentions the tension between clearing houses, clearing banks, and asset
managers regarding who should bear the cost in the event of a CCP
collapse. Furthermore, it points out the potential risks associated with
the small capital base of CCPs and the need for scenario planning to
prevent future CCP crises.01:15:00
In this section, the excerpt highlights some limitations in the analysis
provided by the Financial Stability Board of the Bank for International
Settlements (BIS) regarding the potential impact of a global financial
crisis. The analysis did not consider underlying economic circumstances,
the likelihood of simultaneous defaults of clearing members, or second
and later order effects that could lead to wider market stress.
Additionally, the analysis assumed that all non-defaulting participants
would continue to perform as committed. The article from the Depository
Trust and Clearing Corporation (DTCC) discusses efforts to update
recovery and wind-down plans for clearing corporations and the need to
be prepared for potential disruptions. The DTCC emphasizes the
importance of capitalization and resilience in clearinghouses, but the
total shareholders' equity of DTCC is around $3.5 billion, which may
raise concerns about whether it is sufficiently capitalized considering
its role in the US securities market and derivatives complex.01:20:00
In this section, the transcript excerpt highlights some key points from
the exchange between the legal certainty group and lawyers for the
Federal Reserve. It discusses the vulnerability of investors to the
insolvency of intermediaries and the priority of secured creditors over
entitlement holders. The collapse of clearing subsidiaries and the
taking of assets by secured creditors is seen as a deliberate and
planned event. The excerpt also mentions the opposition of DTCC to
prefunding the default loss waterfall and its support for prefunding
operating capital for a new CCP. The transcript emphasizes the
importance of the rule of law and the potential chaos if it is not
upheld. Additionally, it includes an excerpt from the Wikipedia article
on DTCC, explaining the structure of the organization. The section ends
with a quote from William Blake and a personal anecdote about the Great
Depression.01:25:00
In this section, the excerpt discusses the aftermath of the bank
reopening during the Great Depression. Only the Federal Reserve Banks
and the banks approved by the Federal Reserve were allowed to reopen,
causing many people with money in banks not selected to lose all of
their funds. Their debts were not cancelled and were taken over by the
chosen banks, leading to the loss of everything financed with debt,
including homes, cars, and businesses. Cleveland Trust Company, one of
the selected banks, consolidated debts and foreclosed upon thousands of
families' homes, offering them the opportunity to rent their former
houses. While some perceived the bank holiday and reopening as a
successful solution to the Panic, it ultimately benefited the banks and
consolidated their power. The excerpt questions the true intentions and
effects of the bank holiday during this time.01:30:00
In this section of the video, the narrator discusses the role of the
Federal Reserve in the transformation of the normal recession into the
Great Depression. The Federal Reserve's passive approach, such as not
lowering interest rates or injecting liquidity into the banking system,
allowed for large bank failures and widespread panic. Although the Fed
later admitted its mistakes and promised not to repeat them, the
narrator questions whether they can be trusted. The deliberate actions
of the Federal Reserve and the banks in taking property and assets
during the Great Depression are seen as evidence that their motivations
were not solely driven by greed or the desire to help, but rather part
of a larger plan.01:35:00
In this section, the focus is on the deliberate hurting of humanity
through strategies that aim to eliminate centers of resistance and
impose subjugation. The Federal Reserve Act of 1913 set the stage for
the Federal Reserve System to eventually confiscate the gold of the
public in times of crisis, under the justification that credit could not
be expanded otherwise. This was evident in the Executive Order 6102,
which aimed to remove the constraint on the Federal Reserve, allowing it
to increase the money supply during the Depression. The order
criminalized those who hoarded gold and confiscated all gold owned by
the public. This pattern of deprivation and control continued with
severe penalties for non-compliance. The purpose behind constructing the
largest bank vault in the world in Cleveland in 1923 becomes apparent,
as it served as a means to store the confiscated gold.01:40:00
In this section, the speaker discusses how the collateral backing for
the banking system has shifted from essential holdings like gold to
global securities and derivatives. This could potentially allow big
banks to suppress the price of gold and accumulate physical gold for
themselves while selling paper gold to the public. However, this doesn't
guarantee that individuals will be able to keep their gold if the banks
continue on their current path. The Federal Reserve System has been
designed to survive and take over all assets and banking activities,
leaving cash holders in banks as unsecured creditors with no enforceable
claim to their money. The regime shift aims to nationalize all deposits
and assets, with the protected class of secured creditors taking
control. The big banks have organized themselves as holding companies
with subsidiaries to legally separate risks, allowing deposit-taking
subsidiaries to be separately bankrupted. The Federal Reserve has the
power to grant exemptions to move derivatives into these subsidiaries,
as seen in the case of Bank of America. Overall, the speaker warns that
the banking system is designed to ultimately seize all deposits and
assets, leaving individuals vulnerable, regardless of where they hold
their money.01:45:00
In this section, the transcript discusses the alarming scale of
potentially toxic obligations, known as derivatives, that major banks
house within their insured retail units. With the approval of the
Federal Reserve, banks like Merrill Lynch, Bank of America, and JP
Morgan Chase have moved massive amounts of derivatives into their
deposit-taking subsidiaries. The sheer size of these derivative
positions, which rival the entire global economy, raises concerns about
the safety of deposit-taking subsidiaries. The intention behind this
large-scale endeavor remains unclear, but it appears that the collapse
of these subsidiaries could lead to a comprehensive "Taking" of money,
including from depositors, while the protected class of bank holding
companies and their subsidiaries survive and thrive. This raises
questions about the adequacy of deposit protection, as the Deposit
Insurance Fund may only offer a fraction of insured deposits in the
event of a widespread banking crisis.01:50:00
In this section, the transcript discusses the objections of the Single
Resolution Board (SRB) to the super priority of legacy national deposit
guarantee schemes (DGS). The SRB argues that super priority claims
undermine the use of DGS funds in resolution processes and instead
supports adopting a general depositor preference. However, this
preference would place DGS funds behind secured creditors but ahead of
unsecured creditors, essentially wiping out the funds in the event of a
major failure. The SRB is also directing the largest banks to prepare
for a solvent wind-down, which hints at certain portions of these banks
remaining solvent while the bubble bursts. Excerpts from the SRB memo
indicate that banks are expected to work on solvent wind-down planning,
especially for their trading books. The SRB's 2023 work program
acknowledges the challenges posed by the pandemic, Russian aggression in
Ukraine, and rising energy costs. It emphasizes the need to finalize
banking resolvability and ensure that resolution plans and strategies
are implementable. The transcript suggests that the seriousness of the
powers that be indicates that an important turning point is approaching.01:55:00
In this section, it is revealed that the United States, the United
Kingdom, and the European banking Union are participating in a
trilateral exercise to enhance understanding and coordination on
cross-border resolution for global systemically important banks. This
exercise is part of a series of regular events and exchange among the
financial sector authorities. The significant attention given to this
exercise from the US side is highly unusual and suggests that something
serious is being planned. Additionally, the Atlantic Council, a military
strategy think tank, is focused on central bank digital currency
(CBDC), which is being developed by central banks around the world. The
focus on CBDC raises questions about the motives behind its development,
particularly in the context of a global hybrid war where the collapse
of banking and payment systems is seen as a war aim by those who control
central banks.02:00:00 - 02:20:00In
this YouTube video titled "The Great Taking (Audio Book) by David
Webb," the speaker discusses the concept of deflation and its historical
impact, highlighting how commodities, public companies, and real estate
prices have suffered from persistent deflation over several decades.
They argue that the current inflationary trends are a result of massive
devaluation of money and artificial scarcity, with the underlying
problem being deflation. The impact of interest rate changes on
financial instruments, the role of debt in dispossessing individuals,
and the need for a system that serves the people instead of perpetuating
deprivation and fear are also discussed. The video further emphasizes
the dangers of pseudoevents and the escalating hybrid war, media
control, censorship, and erosion of human rights. It concludes by
advocating for the non-violent dismantling of the power structure
through documenting actions and criminal prosecution.02:00:00
In this section, the speaker discusses the concept of deflation and
provides historical examples to support their argument. They highlight
how in the 1930s, during the Great Depression, commodities and public
companies experienced significant declines, with price levels taking
decades to recover. The speaker also shares personal anecdotes and
research on real estate prices, showing how properties suffered from
persistent deflation over several decades. They suggest that the current
inflationary trends are merely a result of massive devaluation of money
and artificial scarcity, while the underlying problem of our time is
deflation. Additionally, they point out that the lack of significant
demand drivers, coupled with advancements in technology that promote
automation and efficiency, further contribute to deflationary pressures.02:05:00
In this section, the speaker discusses the impact of interest rate
changes on the value of financial instruments, particularly
perpetuities. The Fed's decision to lower interest rates results in an
increase in the value of the perpetuity, while an increase in market
rates leads to a decline in its value. The speaker argues that the
global financial complex operates on the same principles, with the
prices of fixed income instruments, equity markets, and commercial real
estate all being influenced by interest rates. The Fed's actions in
creating the everything bubble by lowering rates during the global
financial crisis and subsequently increasing rates now are seen as
setting the stage for a massive decline in financial and real estate
markets, which will result in a deflationary depression. The speaker
suggests that the architects of this system are positioned to take
everything from the populace, leaving them enslaved and destroyed. With
deep debt and prolonged deflation, people will be unable to make debt
payments, leading to the loss of property and businesses. The speaker
emphasizes that debt is a construct designed to take real things, and
its historical function has been to dispossess and take away property
from individuals.02:10:00
In this section, the audio book highlights the importance of human
welfare and questions the purpose of societal constructs and
institutions. It criticizes the powers that be for prioritizing the
interests of private banks over the well-being of depositors and
emphasizes the need for a system that serves the people instead of
perpetuating deprivation and fear. The audio book argues that the
protectors in society often become the oppressors, causing harm to
innocent civilians. It urges individuals to be aware of the existence
and operation of evil and emphasizes the interconnectedness of all
things. The audio book concludes by stating that stopping the hybrid war
begins with changing one's mindset and being aware of the systematic
psychological manipulation that has been ongoing since the Great War.02:15:00
In this section, the excerpt discusses the danger of pseudo events and
how they can redefine reality by the parameters set by their creators.
The people behind wars and control of central banks are described as
lying, thieving killers who have deliberately caused deaths, and their
criminality has reached an unprecedented scale with the aim of
subjugating the entire globe. The binding power of shared guilt among
the perpetrators is suggested as a reason for how they are held
together. The excerpt also highlights the escalating hybrid war, media
control, censorship, lockdowns, and the erosion of fundamental human
rights that have taken place under the guise of preventing the spread of
infectious diseases. It is asserted that this is not about increasing
control, but rather a response to the collapsing power of
deception-based control systems.02:20:00
In this section, the excerpt discusses the desperation of those who hold
all the assets and have caused immense damage to humanity. Despite
promoting the belief that they are all-powerful, they have only been
able to exert control through the power to print money. However, this
system of benefiting a few at the expense of many is inherently unstable
and unsustainable. The excerpt argues that physical control requires
enormous energy and cannot be sustained while destroying economies and
abusing people. Furthermore, it highlights that war is not the natural
state of humanity and that survival is based on cooperation and not
killing one another. The people orchestrating chaos in countries are
seen as criminals, while those following their orders are not heroes but
criminals as well. The section concludes with the assertion that the
power structure of these individuals and organizations must be
dismantled non-violently by documenting their actions and subjecting
them to criminal prosecution.
#legend
the new phoenix update for iOS let me down receiving a payment bigger than my inbound liquidity. would normally seamlessly open a new channel.
nostr:nprofile1qqsrxra3gv0lnkxz2pcxh0xuq9k4f9dr7azwq3aypqtnay4w0mjzmtqpr3mhxue69uhkummnw3ez6un9d3shjtnhd3m8xtnnwpskxegprpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctvqyf8wumn8ghj7ur4wfcxcetsv9njuetnl6uajg getalby there to save the day!
can anybody loan me 20k sats so i can post bond to robosats for a trade?
need that kyc free
#asknostr
Currency Wars (2016)
00:00:00 In this section, the speaker talks about the impact of currency wars on Bitcoin and its potential for cross-border transactions. They mention that while they previously believed Bitcoin would mainly be used for foreign remittances, recent developments in global currency wars have changed this perspective. The speaker highlights that Bitcoin exists in a competitive world of international finance, and that the currency war currently taking place globally will change the trajectory of Bitcoin adoption. They mention several countries that are currently embroiled in currency wars, emphasizing that the people in these countries are the hostages of these conflicts. The speaker also mentions a recent example in India where a significant amount of cash was removed from circulation, further highlighting the impact of currency wars on everyday individuals.
00:05:00 In this section, the speaker discusses the impact of India's demonetization policy, stating that it has resulted in a humanitarian disaster with a significant loss in GDP. The consequences have caused entire industries to halt, with people unable to buy essentials or transact. The speaker warns that this experiment with 15% of humanity as involuntary experimental subjects may be repeated if the government's aims are achieved. Furthermore, the speaker highlights the global war on cash, where governments aim to eradicate physical currency in favor of digital forms of money that allow for surveillance, control, and negative interest rates. Lastly, the speaker notes the use of national currency as a trade war instrument and criticizes governments for choosing to confiscate savings and impose inflation as a means to relieve debt.
00:10:00 In this section of the video, the speaker discusses the current state of currency wars and how Bitcoin provides a neutral and safe haven for individuals to opt out of these nationalist experiments. The speaker highlights how governments try to force their citizens to support their policies, using patriotism and fear tactics. However, Bitcoin allows people to see through these nationalist ideals and opt out of the system. This challenges the power of sovereigns, who may respond with force. The speaker also mentions the changing equilibrium between currencies and the increased demand for Bitcoin in countries like India and China, where people are willing to pay a premium for the opportunity to exit the current financial system.
00:15:00 In this section, the speaker discusses the consequences of currency wars and the negative impact they have on ordinary people. He compares these wars to a game of SimCity, where raising income tax can lead to a decline in population. The speaker argues that currency wars waged by governments against their own people have devastating effects, causing death and suffering. He also addresses the criticism that those who advocate for Bitcoin are labeled as criminals and terrorists, emphasizing that opportunities to build an alternative system should be embraced.
00:20:00 In this section, the speaker discusses the consequences of currency wars and the impact on people and economies. They highlight how the banks benefit from such wars, while corruption and economic crises rise in countries like India, Cyprus, Greece, Venezuela, Argentina, and Ukraine. The speaker also explains the concept of Gresham's Law, which states that bad money drives out good money in an economy. They provide examples of people hoarding and hiding "good" money like bitcoin, US dollars, or stable currencies, while spending the "bad" money, resulting in the disappearance of good money from circulation. The speaker predicts that cash will be eliminated globally, and bitcoin will play a major role in this change.
00:25:00 In this section, the speaker discusses how Bitcoin will oppose the currency wars while being funded by them. As the currency wars escalate, investment in Bitcoin will grow, resulting in infrastructure improvements. This will create an exit from the currency wars, initially accessible to the richest and most privileged individuals. However, over time, more people will benefit from this exit. The speaker emphasizes that despite being labeled as criminals for providing an alternative, they are simply pointing out the economic crisis and offering a solution. Eventually, the narrative may twist to blame Bitcoin for starting the fire, but it is crucial to remember that Bitcoin is not the cause and that it provides a way out for everybody.