Zero Hedge: Governments are terrible at managing the value of their currencies for all the reasons Austrian economists have laid out in painstaking detail for decades.
Think this through for five seconds and you get to the obvious conclusion. Facebook and the Wall St. banks which actually control it are creating a coin to do away with national currencies in the countries most vulnerable to the Fed’s control over the global monetary system.
This is the next step in the quest to create a world currency.
And if the current system’s long-term health is threatened by, oh I don’t know maybe, the implosion of a bunch of SIFI banks like Deutsche Bank sparking a global sovereign debt crisis, then a stablecoin like Libra to replace a discredited dollar/euro/yen/pound makes some perverse sense. more …
Opinion: A world currency is not some fantasy thought up by the so-called masters of the universe like Google, Facebook, Twitter and Apple. A world currency is prophesied to happen (Revelation 13:16-17) by the Creator of the Universe. It’s how we get there that we are trying to figure out.
From the article: “Jim Rickards has been saying for years, that the response to a collapsing monetary system would be national currencies replaced with IMF SDR’s as the reserves of the banking system, then having a ‘cryptocurrency’ Trojan Horse to bait and switch with has to be part of the plan to maintain confidence in the institutions that fomented the crisis in the first place.”
We have quoted this before but it bears repeating “if Deutsche Bank goes, Europe goes”, so says Charles Nenner, a respected market advisor. Deutsche Bank has under its wing between 40-50+ trillion of derivative assets (depending on the source).
The classic definition: A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset (like a security) or set of assets (like an index). Common underlying instruments include bonds, commodities, currencies, interest rates, market indexes and stocks.
But what is it really? Derivatives are complicated formulas that either win or lose based on a set of objectives or goals. They are manufactured by Ivy League whiz kids and super computers and sold to institutions and wealthy individuals often as a hedge against an unexpected move in the underlying asset.
There are thought to be over 1 quadrillion of derivative investments in the major money center banks. If derivatives were to implode, there is not enough money in the world, and the printing presses cannot go fast enough, to stop a total financial meltdown. A manufactured digital coin, however, may provide a temporary solution for the wealthy (oil and wine) as prophesied in Revelation 6:5-6.
All roads lead to fulfillment of prophecy. In the beginning of the tribulation, a global financial meltdown symbolized by the Black Horse will be the 3rd of 21 judgments.