Babylon's Bankers

WOOPS… BETTER CHECK THE EXPIRATION DATE…

For quite some time I and others have been trying to warn about such people as Mr. Globaloney, Mr. Central Bankster, Ernst Stavro Klaus von Blohschwab of the World Economic Fleecing ...er... World Economic Forum and their push for digital "currencies" and so on. Among our concerns have been the following: (1) no cyber-system is ultimately secure; (2) digital currencies are a single point of failure, as they are potentially vulnerable to cyber attacks such as (a) hacking (or cyber warfare), (b) catastrophic hardware failure due to such causes as electro-magnetic pulse, actual physical sabotage, or power outages, and so on, and (3) such "currencies" are when coupled to a system of "social credit" not currencies at all, but corporate coupons whose "value" can be adjusted at the whim of Mr. Central Bankster, and so on.

Well, hold on to your hats, because K.B. spotted the following story and passed it along (a big thank you for doing so!), and wait until you read what it says:

https://www.zerohedge.com/crypto/chinas-digital-yuan-comes-expiration-date

In case you missed it, here it is:

To be sure, none of this is actually new as we have discussed all these nuances of the digital yuan before. What is now, is this blurb in the WSJ article:

The money itself is programmable. Beijing has tested expiration dates to encourage users to spend it quickly, for times when the economy needs a jump start.

And there you have it: the Keynesian wet dream to boost the velocity of mean finally comes true. For the past decade we have joked that it is only a matter of time before central banks slap on an expiration date on every monetary unit in circulation...

... to offset the creeping petrification of the monetary system, where negative rates have sparked even more saving and not spending as central banks had intended...

Why, this is such a niftily stupid idea that only Mr. Globaloney and Mr. Central Bankster could think of it: what better way of preventing people from actually being able to save money than to put an expiration date on it!? Now, my mother was an assiduous coupon-clipper, and by "coupon" I mean the kind that used to come in magazines for a certain amount of money off the retail price of a particular product, not the kind of coupon that comes on a bond, whether corporate or sovereign, though with this news, that distinction appears to be quite blurred. Indeed, as the article itself details, the trial run for this nonsense meant people had to spend their corporate yuan-coupons in certain designated stores (fancy that!) rather than, as with ordinary and real currency, being able to spend it anywhere.

And with the precedent established of only being able to spend such "currency" in particular stores (which presumably specialize in certain types of retail products), one can envision the extension of the "coupon-'currency'" to "soap and toiletries yuans," "automobile yuans," "travel yuans"... you name it. And of course, "currency" only spendable at certain places on certain types of things isn't currency either. It's a coupon.

In any case, this little bit of news all but makes the point I and others like Catherine Austin Fitts have been trying to make: digital currency is not a currency at all, it's a corporate coupon, and like all coupons, it comes with an expiration date. Currencies do not. But patience, give them time, pretty soon they'll think of that too. Want to get rid of good old fashioned cash? Just mint it with a ridiculously short expiration date, and drive people into the longer expiration date digital "currencies".

Of course, that won't work either, and most of us know why...

See you on the flip side...

34 thoughts on “WOOPS… BETTER CHECK THE EXPIRATION DATE…”

  1. Doc, why would dating paper currencies shorter than crypto not work for their purpose? Modi basically did just that with BillGoats in India when he killed the larger denominations, didn’t he?

  2. This brings new meaning to govt picking winners and losers. If you don’t have favor with Mr Central Bankster, you and your business are doomed.

  3. Wow… My reaction to this story gave me a huge belly laugh and I don’t really know why. But I am thankful and grateful for that. All though this story just proves how nuts the elites are; it just made me laugh out loud at how “stupid” and “arrogant” they have become.

    Hopefully, that’s a good thing for us as I can’t see the people willfully going online with such a thing. But, then again… they will figure a way to tie it to government handouts and thus, maybe they will be able to pull it off anyways.

    Crap… I’ve just talked myself down from my belly laugh. Sigh…

  4. Nobody will be allowed to accumulate wealth through savings or property or anything else – as in Communist Ch; wealthy people tend to go missing or wake up dead. The only way that the chnese are allowed to acquire anything is through the social credit system; if you bow to the cult and report your neighbours for infringement of laws or thought crime, you get more ‘credit’ so you can buy more junk and ‘live the dream’ of souless, Godless materialism..

  5. I give you an old Ernie Ford song Sixteenth Tons or E.M.Fosters The Machine Stops published in 1903 AD. That’s where we going if we don’t stop these idiots they trapped in their fantasy world and don’t know or give a damn.

    1. Everyone’s in fantasy land. That’s why the human race is in for a rocky time. The only innocents are the children.

    2. Another meme is from The Outer Limits for the rest of our lives our overlords will control all we see and hear.

  6. . . Johnny offshore nearly always wants more than Johnny onshore – cause he keeps it all

  7. Expiration date? . . . Almost sounds like there’s to be an allotment of some kind to keep the currency moving. Cash moving is very important toward a vibrant and functioning economy. Take that monthly stipends some socialists insist on tacking onto the Federal budget – Universal Income – the pilot program actually has some positive attributes about those enrolled in it. One of the biggest things is how it, the monthly allotment, helps those folks manage their domestic affairs despite the stigma of “free money” attached to it. It has a psychological up tick that otherwise cannot be assigned to an algorithm.

    What it doesn’t provide is what comes down the road should financial assistance go rabid as when that “control” phenomenon by the few comes knocking for favors if it does. Like that Party expiration date nonsense of authoritarian regimes. That’s when one is likely to discover that those strings attached have blossomed into thick ropes – or else.

    What seems to distinguish the cash coupon from the corporate coupon from the digital coupon in electronic bytes are the agreements of fractionalization on limited resources.

    1. I think Ragiza hit the nail on the head. Expiring currency is meant to keep us anxiously awaiting our next orders while trapped in a perpetual rat race maze; desperately moving in whatever direction they want for that next bit of cheese needed to survive one more day. There won’t be any savings and thus no rest. And those who are a little too slow to comply will go without.

      1. . . . In one’s humble opinion, those [they(s), like the Davos and “Blohschwab” types] are not as magical as some might suggest. They require a level of agreement, support, and enforcement in order to have anything of consequence. That imposed expiration date might come with a temporary freeze on how currencies fluctuate stopping them from changing lowering / rising in value.

    2. The most important distinction about the “cash coupon” is that it’s physically portable anywhere, anytime; it’s not dependent on an internet or electrical connection; and it’s 100% anonymous. Those are characteristics of a real currency.

      1. . . . The “anonymous” part might be the fun part but is only as valuable as the support and enforcement that holds together agreeing parties choosing to use it. That limits its reach. Thieves have a tendency of seeking routes around those agreements, connections with great anonymity – until they’re caught transacting with what is not theirs. It often takes a small army but so does thieving. One only need look at the successes of the Party of the east by going west with special characteristics. On top of that they’re globally positioned. they even boast of their thievery on media.

  8. Robert Barricklow

    BC
    Before Covid, [“AI, Rules the World”.]
    Before, “Public, Enemy #1”

    Became “Human/Living, Enemy #1”.
    To the After Covid post…

    Yep. I stopped at “expiration date”.
    In other words, the speed of liquidity.
    Like the “grain-based economy” of old; had a natural, in-built expiration date of currency; and hence, a speed of currency[liquidity] throughout the economy[“economic system”].

    O.K. it’s termed, “velocity of mean”; very corporate/Marshall McLuhan.
    Yes, the so-called raison d’etre for negative interest./A 1 – 2 punch to the banking interest[literally] , speed of currency and making interest the old-fashion way; literally, stealing it.

    But, it gets worse!
    Now, that’s it’s literally[this is getting to be quite literally] a coupon[not a currency]; the technocratic authoritarian regime can specify not only how fast to spend; but, where to spend. Looking more & more like a “gaming” coupon; where, “your” being Gamed in an electronic digitized landscape. Theoretically them they could say, “jump three times, turn around thrice, counterclockwise… Then spend your coupon. Because, Your on an anti-human technocratic authoritarian electronic smart grid. Yes, your literally; a Lab Rat.

    Oh, How I long for those long ago days; yesteryear’s, yesterdays…
    Those bygone, long gone? BC; good old times.
    Ironic that; after Christ, times changed.
    This is one for a Dr. Farrell deep dive.
    For, this doesn’t look serendipitous; it looks purposed.
    For language; is “literally”, expression[s] through living;
    as language/herself lives; as part & partial, to the living universe, she symbolize[s]/expresses[in individuals/group consciousness] in the here/now – this instant – even in non locality.

    A literary contortionist style; w/much left to be desired, too be sure.
    But, I Y’am what I Y’am!

      1. Robert Barricklow

        Exactly!
        She’s the best!
        Own several of her book.
        [very small paperbacks]

        Thanks, for the link.

  9. It wouldn’t take too many years of this expiring coupon money before almost no one has any savings – just loads of non-productive crap. That’s a good way of creating a population of anxious obedient people dependent on the coupon issuers.
    If they want to cut down on the population, just have the expiring food coupon money spendable only at fast food outlets.

    1. Robert Barricklow

      Precisely; savings are punished.
      Negative Interest. Savings are punished.
      You pay them interest in your bank saving’s account;
      instead of the bank paying you.

      That was the argument in the Bitcoin community.
      Currency? You spend it.
      or
      Gold/Precious Metals: a store of value.
      It was both; and legislatures were having problems trying to nail it down.

      Fortunately, “they” can’t control bitcoin; because, bitcoin is not a coupon.
      But, “they” have ways of shutting it down; or, forcing it underground.
      Ultimately, I think “they” have access to bitcoin through a back door.
      Yet, it doesn’t even have to be a direct back door; to control bitcoin.
      Simply, control the McLuhan medium[the internet].
      Or, perhaps? Get your latest update[shot]? Mind Control?
      If not today’s update? Perhaps tomorrows?

      1. Agreed. I think cash also has expiry characteristics but this was part of the crypto plan.

        Interestingly, the freedom/truth community is presently and actively being fractured (or is intended to be) over the “blockchain and/or cryptocurrency as a means to liberation from the Predator Class” vs “blockchain identity and digital currency (that) will interface with social impact investing to create an augmented reality prison-planet structure to profit the global elite”.

        This feels reminiscent of the evolution of 9/11 truth movement(s) that were infiltrated and sabotaged, almost across the board. Except that everyone has literal skin in this argument.

    2. Issuing each person just enough credits to meet basic survival needs is also a great way of making sure “you own nothing.” But don’t worry — you’ll be saying, “I’ve never been happier”!

      1. That presumptive [Universal Income] of valuation should be interesting. Makes one wonder how many zeros will be used as rounding integers and on what side of the decimal they’ll appear.

  10. “Money, it’s a gas
    Grab that cash with both hands and make a stash”
    Pink Floyd – Dark Side of the Moon

    1. “What distinguishes a gas from liquids and solids is the vast separation of the individual gas particles. This separation usually makes a colorless gas invisible to the human observer. The interaction of gas particles in the presence of electric and gravitational fields are considered negligible, as indicated by the constant velocity vectors in the image.”

      Money it’s a gas – Sounds very much like cryptocurrency ..

  11. Looks like this NWO won’t last long. What’s the saying about never interfere with the enemy while they destroy themselves and all their credibility?

    1. There in lies the problem to solve. NWO is not intended to last long. It’s intended to syphon off resources and stall the targets while the predator class completes their breakaway efforts.

  12. The sword of Damocles above worthless state currencies is the scepter of SHARED ACCOUNTABILITY. Of course you aren’t going to trust zuckerbucks or digital monies made ready at the press of a button. I cannot see a clear distinction being made between open source, distributed, decentralized blockchains and corporate slave chains. The former a way to share a ledger of transaction and come to a mathematical agreement and the latter a centralized garbage heap of forced slavery. There is a difference. This is why they want to ‘own the network’. This is why they want to kill us. I don’t disagree with the Orwellian implications of transparent blockchains, EMP’s, and lost passwords, however, what is the plan? What does sound money look like in the future?

    Decentralized distributed blockchains vs Central bank (federal reserve) corporate digital currencies.

    1. Pretty much , physical metal is good too but I’ll take the decentralization of $ over their central bank digital $

      It’s going to be an epic battle ,
      We all know they reduce paper to bathroom use

    2. Sword of Damocles is good. Confused by statement of no clear distinction between the two while you make a clear distinction. I think we all would love an open sourced anonymous system. We probably all agree that the concept is as beautiful as all utopian concepts – as long as it remains the fantasy that it is. As soon as any of these concepts get implemented, gulags are always right behind them. Otherwise they just collapse quickly before many get hurt. Sound money most resembles pure barter.

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