Currency

The other day I was in a shopping mall looking for an ATM to get some cash. There was no ATM. A week ago, there was still a branch office of a local bank – no more, gone. A Starbucks will replace the space left empty by the bank. I asked around – there will be no more cash automats in this mall – and this pattern is repeated over and over throughout Switzerland and throughout western Europe. Cash machines gradually but ever so faster disappear, not only from shopping malls, also from street corners. Will Switzerland become the first country fully running on digital money?

The more Washington lashes out in anger at those who will not bow to the unipolar world order, the more the rest of the world fights back. As the launch of its Yuan/Gold-settled oil futures looms, China is escalating its de-dollarization scheme further by seeking a bilateral rial-yuan agreement with Iran.

Financial analysts are increasingly pointing out that China has some very grand plans when it comes to petroleum markets, and that if those plans succeed, the U.S. could see the dollar threatened as the top global currency. From CNBC on Tuesday:

The tyrant, of course, is Donald Trump. He launched tirade after tirade, and keeps launching them, insult after insult, lies after lies after miserable lies at the Government of Iran – about Iran not fulfilling the conditions of the Nuclear Deal. The typical mass indoctrination of the western world through the presstitute mainstream media. Goebbels might smile in his grave, how well the neolibs or neo-Nazis have learned from the Nazis of his time – and perfected this science of deceit in the last 50 years.

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The Head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev has stated that the BRICS may opt to create their own cryptocurrency for the purposes of global commerce.
A cryptocurrency is a digitally based means of exchange wherein the value of said currency is not determined by a central-bank. Most cryptocurrencies can be converted into state-issued currencies (Dollars, Euros, Yuan, etc.) through various foreign exchange services.

A New Idea Addresses Some Old Problems

The Fundamentals of Exchange

How Do You Tackle a Big Idea?
It has long been believed that Capitalism is the last economic system. It has triumphed over its rivals, socialism and communism, and has now come to define modern society. Many believe that the religion of Adam Smith was the culmination of all of our economic experiments. To many, not only is Capitalism the best economic system that humanity has ever devised, it is the best that it will ever devise.

As a result of the growth of the modern welfare state, America and the other major Western countries of the world have become, in the words of Nobel Prize-winning economist, James Buchanan (1919-2013), perpetual democracies in deficit, funded in total or in good part by, now, trillions of dollars created by government monetary monopolies – the central banks.