Total DEcentralization of the Illegitimate and Self-Appointed Centralized Global Banking Cartel.
The Logical and Ethical Solution: Bitcoin and Austrian Economics.
A short, inspirational and taboo-breaking article, with loving dedication to my humble and wise Father during his last breaths of human existence (died on Dec. 18th, 2018).
Prelude:
The centralized global banking cartel with its globally powerful interlocking structures — for the sake of brevity focusing mainly on the (privately owned) Bank of International Settlements in this article — has been operating and controlling humanity´s monetary-economical roots and foundation with occult-like secrecy, shrouded in mystery.
The ethos and intention of the author is to inspire and initiate an academic and jurisprudential debate around the indoctrinated taboo-question surrounding the essential question of illegitimacy of the “Central Bank of all central banks”: the Bank for International Settlements (BIS). Carroll Quigley described the functions and goals of the BIS in his thoroughly scientific book “Tragedy and Hope”: “…another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world´s central banks which were themselves private corporations. Each central bank…sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence politicians by subsequent economic rewards in the business world. In each country the power of the central bank rested largely on its control of credit and money supply. In the world as whole the power of the central bankers rested very largely on their control of loans and of gold flows. In the final days of the system, these central bankers were able to mobilize resources to assist each other through the B.I.S., where payments between central banks could be made by bookkeeping adjustments between the accounts which the central banks of the world kept there. The B.I.S. as a private institution was owned by the seven chief central banks and was operated by the heads of these, who together formed its governing board…They made agreements on all the major financial problems of the world, as well as on many of the economic and political problems, especially in reference to loans, payments, and the economic future of the chief areas of the globe”.
Discussion:
The urging question arises why a privately owned and obsessively controlling central banking structure coordinated centrally by the BIS, that causes and effects the existence and lives of nearly 8 billion people worldwide, with incalculable and astronomical chain-reaction of monetary, financial, and economical consequences and damages, can operate as a self-appointed and untouchable-immune entity, without fearing any kind of justified civil and criminal prosecution or legal action whatsoever. As once the chairman of the Midland Bank, Reginald McKenna, told its stockholders in January, 1924:: “I am afraid the ordinary citizen will not like to be told that the banks can, and do create money…And they who control the credit of the nation direct the policy of the Governments and hold in the hollow of their hands the destiny of the people”.
Without going into a detailed discussion, let it be said for the sake of understanding the bigger picture of financial power, that the heads of the world´s chief central banks were and have been themselves the technicians and agents of the dominant investment bankers of their own countries, who had raised them up and were perfectly capable of throwing them down: “These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in central banks. This dominance of investment bankers was based on their control over the flows of credit and investment funds in their own countries and throughout the world. They could dominate the financial and industrial systems of their own countries by their influence over the flow of current funds through bank loans, the discount rate, and the rediscounting of commercial banks; they could dominate governments by their control over current governmental loans and the play of the international exchanges. Almost all of this power was exercised by the personal influence and prestige of men who had demonstrated their ability in the past to bring off successful financial coups, to keep their word, to remain cool in a crisis, and to share their winning opportunities with their associates.”
It would be an absolute waste of time, energy, and resources — including legal actions based on international, constitutional, civil, and criminal law — attempting to fight the dominating central banking structures in collusion with the governmentally controlled unsound fiat-inflationary monetary-economical system (“Keynesianism”). Yet, humanity in totality needs to comprehend that the current dominating global central banking cartel with all its seemingly complex, distractive, and controlling tentacles lack any kind of legitimacy whatsoever. On the contrary, the perfectly and secretly coordinated and implemented decisions and actions by a centralized, self-appointed, and illegitimate structural entity (for the sake of simplicity called the global banking cartel), has caused pain, suffering, destruction, poverty, and damages beyond words. The next logical and legal question arises: how can the responsible agents and perpetrators of these global central banking structures be made accountable and liable for their committed monetary-economical holocaust? We cannot predict the future. Unless there would be a thorough globally concerted investigation and effective prosecution, the chances of punishing a handful of true owners, controllers, and decision-makers behind the scenes do not look promising. As we have witnessed and learned from the reality of history:
ordinarily the men, who front as agents and executioners are convicted (or punished with jail or death-penalty), in order to appease the anger and the demands of the naive public.
The logical and ethical solution:
As Saifedean Ammous realistically concludes in his book “The Bitcoin Standard” — in connection with gold and Bitcoin: “In practice, however, the possibility of a global return to sound money and liberal government is extremely unlikely as these concepts are largely alien to the vast majority of politicians and voters worldwide, who have been reared for generations to understand government control of money and morality as necessary for the functioning of any society. Further, even if such a political and monetary transformation were possible, Bitcoin´s diminishing supply growth rate is likely to continue to make it to grow further and acquire a larger monetary role. In my assessment, a global monetary return to gold might be the most significant threat to Bitcoin, yet it is both unlikely to happen and unlikely to destroy Bitcoin completely”.
Bitcoin with its total and absolute scarcity of 21 millions coins (to be mined in totality until 2140) and a precisely programmed difficulty adjustment — is the hardest money, beyond the gold standard.
Bitcoin, in connection with the crypto-fiat-gateway and the accelerated scaled off-(block) chain payment ecosystems (i.e.: “Lightning Network”, user-friendly interfaces for mass adoption), will make this exponentially growing debt-based inflationary central banking cartel obsolete in the predictable future.
Total Bitcoin. Total DEcentralization. Total Blockchain. Total Freedom. Hardest Money. Store of Value. Austrian Economics.
Literature and sources of research:
Investigative book on the privately owned US-Federal Reserve System by
G. Edward Griffin, The Creature from Jekyll Island: A Second Look at the Federal Reserve (1994).
Indispensable literature: Carroll Quigley, Tragedy and Hope —
A History of the World in Our Time (1966), p. 324.
i.e. regarding the Bank for International Settlements:
Privileges and immunities according to Art. 4 and 12, “Agreement between the Swiss Federal Council and the Bank for International Settlements to determine the Bank’s legal status in Switzerland”: https://www.bis.org/about/headquart-en.pdf (retrieved on Sept. 10th, 2018).
Quigley, Tragedy and Hope (1966), p. 325.
Quigley, Tragedy and Hope (1966), p. 327.
In reference to Andreas M. Antonopoulos in one of his speeches
“Escaping the Global Banking Cartel”, https://www.youtube.com/watch?v=LgI0liAee4s&t=2s (retrieved on Dec. 11th, 2018).
The best source on technological aspects of Bitcoin:
Antonopoulos, Mastering Bitcoin-Programming the Open Blockchain
(2nd ed. 2017)
Antonopoulos, The Internet of Money (Vol. 1&2, 2017)
Essential knowledge and analysis for comprension on the basis of Austrian Economics: Saifedean Ammous, The Bitcoin Standard (2018), p. 250.
See the official data for the global debt in the amount of one quarter of a $ quadrillion https://www.iif.com/publication/global-debt-monitor/global-debt-monitor-july-2018; https://www.zerohedge.com/news/2018-07-10/global-debt-hits-record-247-trillion-iif-issues-warning (retrieved on Sept. 13th, .2018).
