Carney proposed replacing the US Dollar with Facebook's Libra as Reserve Currency !!

In a Speech given by Mark Carney the Bank of England Governor during the Jackson Hole Symposium on the 23 August 2019 , he proposed replacing the US Dollar With facebook's Libra as the world Reserve Currency .Of course, such a new system would bring about the end of US hegemony, and effectively end the dollar-based global financial system, dramatically scaling back the US's influence in the global economy, and making rising powers like China and Russia critical players an increasingly multipolar world. The creation of a virtual non-fiat currency, against which all other central-bank backed fiat currencies could be devalued, is certainly one solution. But if the notion that the economic establishment which Carney represents might some day accept these ideas sounds like a fantasy .In light of this shocking capitulation by a member of the central bank establishment, we leave you with some levity, as the alternative is simply dire, and what happens next as the fiat world unwinds - or devalues against some non-fiat construct - will be very unpleasant for all those who are unprepared and had believed that central bankers actually know what they are doing. So here we have it , The birth of Fedcoin. as the only way to enforce negative rates is via electronic currency. It’s high time for a run on the banks. The banks have no cash money and in the coming credit crisis without paper you will be high and dry. The only shock for me about Carney's comments are that he actually said them at this time. I have long said that governments will replace fiat currencies with crypto currencies at some point, it's just that it won't be Bitcoin because they will want their own crypto which will have full audit trail features designed into it. They're allowing Bitcoin to continue in circulation now to iron out all the techy bugs and snags . But when they're ready, a crypto will be introduced step-by-step, and at some chosen moment Bitcoin usage will be outlawed and not permitted for buying or selling goods and services. That action will kill 98% of its usage by retailers , but it'll probably continue only as a trivial black-market crypto. The Zuckerberg's Libra is not the one for the governments to go with. because it is a privately developed crypto. Libra is not a good example, because it is centralized and seemingly an easy potential victim of fraud. That the dollar is over with is obvious. It is equally obvious that is can not be replaced by any national currency, nor by a currency under central control ,irrespective of who might control it. Following on from that logic it is also clear that it cannot be replaced by a 'basket of currencies'. Whatever replaces it must not have any government affiliation at all, and it must not have any corporate affiliation either. It must not be owned by anybody as a system. It must live on a globally supported bitchain. It must prevent national government from being able to steal assets by issuing fiat. It must in other words be sound money. The single one currency is the global banking objective, and crypto is the best way to do it. Central bankers don't give a hoot about the public ,the fed wont cut anything even if trade wars goes total. Their objective is to reset the whole thing with a super crash, and then offer the one currency as THE solution. Recession is under way and planned by central banks.











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