2nd Great Depression: One week away from getting to the highest unemployment rate ever in America

[Warren Moon]

You've just ethered yourself with that argument, mate.

China's Digital Currency Is a 'Wake-Up Call' for the U.S.

UPDATE 1-ECB could speed up plans for public digital currency if cash use drops

Russia's Central Bank Is Considering Launching a Digital Currency - CoinDesk

Sweden's central bank prepares for cashless future with e-krona

Senegal Introduces Cryptocurrency Based on its National Currency

Marshall Islands launches national cryptocurrency

everything u posted is a contradiction of what you believe in,

a decentralized currency by independent nations will never be the eventual de facto decentralized currency.

that is literally the exact opposite of what the community believes. Most crypto’s won’t even trade if an entity is verifying the majority of transactions

 

[mykey]

everything u posted is a contradiction of what you believe in,

a decentralized currency by independent nations will never be the eventual de facto decentralized currency.

that is literally the exact opposite of what the community believes. Most crypto’s won’t even trade if an entity is verifying the majority of transactions

You never know when to quit, do you?

You said no serious country will consider this. Well, I just showed you 24 countries that are considering it. Next month China will launch the DCEP and the European Union will later follow with its own version.

This is not about cryptos, this is an entirely new financial infrastructure underpinned by Blockchain networks and 5G technologies.

It is unstoppable.

I'am sorry to inform you that the real US economy has been shut down since the Great Depression and finally killed in 2008. Your productivity and wealth was siphoned off and given to Jeffrey Epstein, Bernie Madoff and other "Financiers".

You're watching a movie and it's only the opening act.

 

[Warren Moon]

You never know when to quit, do you?

You said no serious country will consider this. Well, I just showed you 24 countries that are considering it. Next month China will launch the DCEP and the European Union will later follow with its own version.

This is not about cryptos, this is an entirely new financial infrastructure underpinned by Blockchain networks and 5G technologies.

It is unstoppable.

Naw breh. U just assumed I was talking about the government and not the chinese ppl clamping down.

their ppl said fukk that shyt, to the governments attempt to create a nation based cryptocurrency

 

[3rdWorld]

Americans will have to scale the border wall to seek a better life in Mexico..

 

[CouldntBeMeTho]

This is only the beginning.

 

[mykey]

Naw breh. U just assumed I was talking about the government and not the chinese ppl clamping down.

their ppl said fukk that shyt, to the governments attempt to create a nation based cryptocurrency

No, in fact that is not true. Like I said earlier *sigh* the DCEP is being launched in May, 2020--That's next month. The European Union will probably launch their version in the summer.

It's that serious. Things are heating up, mate.

But let me ask you this;

Why did Wall Street deserve to get Trillions of Dollars in bailouts? What real value do they add? How many dead companies are inflated, how many assets inflated, how many things can't you buy with your hard working money because these companies and assets are inflated by QE?

Where are the regulators? the Risk analysis? the audit reports? the credit ratings? They are no more. It's all fake-smoke and mirrors, a ponzi scheme.

Once everyone ditches the Dollar, it's bye bye American Pie.

 

[Unknown Poster]

Americans will have to scale the border wall to seek a better life in Mexico..

While Canada builds a wall to keep us the fukk out.


Live in Trump's America brehs.

 

[Unknown Poster]

Trump is a dumbass. Goddamn.


He reminds me of the son of the CEO of a multi million dollar company that hands him the keys and tanks the business in less than a year.
Or better yet, that friend that you lend a new electronic device to, and somehow, someway they break the shyt and you don't even know how it happened.



This nikka really done broke the country.

 

[Cadillac]

A fair amount of them will. While these numbers are awful they are the result of much of the country being shut down not because companies simply refuse to hire folks or because the jobs have gone automated.


.

Yep, know a couple of people in this situation

 

[3rdWorld]

While Canada builds a wall to keep us the fukk out.


Live in Trump's America brehs.

Trump tried to make MAGA go global and tried to force the world to suck America's old decrepit dikk..as that was happening and the US was increasingly isolated, China saw a great opportunity to replace the US as the world's superpower. Thankfully the Coronavirus put a stop to any Chinese ambitions of ruling the world..

 

[null]

Blockchain infrastructure shall provide a low-cost, high-penetrative, multi-cloud network.

These networks can then be internationalised through bilateral swap agreements that are linked to commodities futures such as gold and oil.

As a result, the international financial architecture shall be completely transformed. Today’s Bretton-Woods system pegs sovereign currencies to the US Dollar which in turn is based on thin air aka Quantitative Easing (QE).

Bretton Woods:

Only a few currencies are still pegged to the USD. Bretton Woods ended in 1971.

USD is not based on QE. The USD is based on Fiat Decree. QE is the direct creation of currency by the Central Bank and the dissemination of this into the economy. This is only done at exceptional times (like now). The vast majority of created USD money is done through the banking system as debt so it is also accurate to characterise it as a debt based monetary system.

Question:

1. Swaps 'linked'? You mean a Commodity swap - Wikipedia ? Why use a Swap at all? Why not just a Forward contract - Wikipedia for the commodity? What does using a Swap give you?

Unfortunately, the US has used the predominance of the Dollar for political purposes, through use of sanctions and the SWIFT system.

Blockchains are decentralised and not under any sovereign control. For international payments, this offers a more transparent, faster and cheaper option to the current SWIFT system.

A Blockchain can be public or private. It can be under the control of entities (government or otherwise) or it can be public and under the control of no one. I think you are suggesting that users have to be authenticated which suggests some form of private blockchain or network of chains. The price of transacting is set by the system creators. It's not inherently cheaper to use a blockchain. The price is set by consensus - be that consensus public or private.

It seems also that you are saying that this system should be used by the states' foreign reserves managers. Unfortunately not all central banks or monetary authorities are independent and that means there will be some state control.

Not all central banks are inidependent:

Just like smartphones made landlines obsolete, no countries will be able to reject blockchain payments.

5G technology is key to this transformation. There will be regulation of these Blockchain platforms, technologies will be standardised and the stability of the system will be enhanced.

It remains to be seen whether the US will embrace this new innovation or fight to maintain the current Dollar status quo.

In any case, the dominance of the Dollar is under serious threat.

I see the core of what you are saying but I think some of the details need to be nailed down.

I have been observing banking systems for a fair few years and flaw within money based blockchains is the instability of free floating values. I have seen a number of ideas proposed (and havent looked at it for a few years) but that problem remains open.

Goldman Sachs created " Goldman Sachs-backed Circle goes live with currency-linked stablecoin " BUT multi-lateral pegging brings fixed rates and the world currencies need floating rates.

I personally think that the pegging could be done on a transaction basis (so the chain currency is more of a certificate than a fungible currency).

Interesting stuff.

 

[TELL ME YA CHEESIN FAM?]

Heh yeah non-essential retail stores and other businesses are closed,but for the most part it looks like business as usual in these Houston streets
People walking in groups
Cars driving everywhere
Parents with their children out and about
Street walkers slanging coochie on Bissy
Lil nikkas on skateboards and bikes

Our body count low so muthafukkas haven't been taking this pandemic seriously

 

[Rarely-Wrong Liggins]

Exactly but I don't want the government to try people with bullcrap when it's time to pay that 600 + unemployment. I haven't heard anything in Florida about unemployment since I filed 2 weeks ago.

Many of us haven't heard from them since.

The states don't have enough money to pay all of these UEI claims.

 

[mykey]

Bretton Woods:

USD is not based on QE. The USD is based on Fiat Decree. QE is the direct creation of currency by the Central Bank and the dissemination of this into the economy. This is only done at exceptional times (like now). The vast majority of created USD money is done through the banking system as debt so it is also accurate to characterise it as a debt based monetary system.

Question:

1. Swaps 'linked'? You mean a Commodity swap - Wikipedia ? Why use a Swap at all? Why not just a Forward contract - Wikipedia for the commodity? What does using a Swap give you?

A Blockchain can be public or private. It can be under the control of entities (government or otherwise) or it can be public and under the control of no one. I think you are suggesting that users have to be authenticated which suggests some form of private blockchain or network of chains. The price of transacting is set by the system creators. It's not inherently cheaper to use a blockchain. The price is set by consensus - be that consensus public or private.

It seems also that you are saying that this system should be used by the states' foreign reserves managers. Unfortunately not all central banks or monetary authorities are independent and that means there will be some state control. Not all central banks are inidependent.

I see the core of what you are saying but I think some of the details need to be nailed down.

I have been observing banking systems for a fair few years and flaw within money based blockchains is the instability of free floating values. I have seen a number of ideas proposed (and haven't looked at it for a few years) but that problem remains open.

Goldman Sachs created " Goldman Sachs-backed Circle goes live with currency-linked stablecoin " BUT multi-lateral pegging brings fixed rates and the world currencies need floating rates.

I personally think that the pegging could be done on a transaction basis (so the chain currency is more of a certificate than a fungible currency).

Interesting stuff.

Countries don't have a direct peg but the Dollar is the world's reserve currency. What happened in 1971 is that president Nixon took the US$ off the gold standard, thus rendering it a fiat currency. Fiat currencies do not have intrinsic value. There needs to be faith in the currency for it to work.

After the crash of 2008, the Fed and other central banks handed out trillions of dollars to the banks and finance houses whose actions had precipitated the crisis. This money did not go into the real economy but passed straight into the coffers of the financial oligarchs. QE has essentially continued since 2008 and the COVID-19 Pandemic had exposed the US economy as a ponzi scheme.

"I think you are suggesting that users have to be authenticated which suggests some form of private blockchain or network of chain"

Exactly. I had indicated in my earlier write-up that this will be a network underpinned by Blockchains and 5G technologies. There will be limited regulatory oversight by monetary authorities.

The trust in the financial architecture will be bolstered through bilateral agreements like the one below.

 

[Warren Moon]

No, in fact that is not true. Like I said earlier *sigh* the DCEP is being launched in May, 2020--That's next month. The European Union will probably launch their version in the summer.

It's that serious. Things are heating up, mate.

But let me ask you this;

Why did Wall Street deserve to get Trillions of Dollars in bailouts? What real value do they add? How many dead companies are inflated, how many assets inflated, how many things can't you buy with your hard working money because these companies and assets are inflated by QE?

Where are the regulators? the Risk analysis? the audit reports? the credit ratings? They are no more. It's all fake-smoke and mirrors, a ponzi scheme.

Once everyone ditches the Dollar, it's bye bye American Pie.

ok bud. Keep moving goalposts.

I don’t think u know the first thing about crypto, ico’s, the fundament technology structure of the blockchain, or mining.

u sound like u just read an article 6 months and are talking out of ur ass to try to save face.

On top of that I don’t think u know anything about economic structure of the world, from 1900 until now.

You’re in the back office for a reason. Stay there