The Agenda

The World Economic Forum’s annual meet-up is underway. Politicians, corporate giants, “philanthropists” and all manner of elite monstrosities gather for a weekend of telling each other how smart they are and making the world generally worse.

Here are the five main items up for discussion, according to the WEF’s website:

See if you can notice a pattern:

  1. Addressing the Current Energy and Food Crises in the context of a New System for Energy, Climate and Nature
  2. Addressing the Current High Inflation, Low Growth, High Debt Economy in the context of a New System for Investment, Trade and Infrastructure
  3. Addressing the Current Industry Headwinds in the context of a New System for Harnessing Frontier Technologies for Private Sector Innovation and Resilience
  4. Addressing the Current Social Vulnerabilities in the context of a New System for Work, Skills and Care
  5. Addressing the Current Geopolitical Risks in the context of a New System for Dialogue and Cooperation in a Multipolar World

Now, none of this is news. A “new system” for energy is a “green new deal”, a “new system” for international cooperation is some type of global governance, and a “new system” for investment and trade covers a lot of topics, including digital currency.

Like I said, nothing new, but it’s always refreshing to see it in print, with no effort to hide it.

 

 

The End of Paper Money?

It’s clear that USGOV (and the WEF) want to transition to 100% digital currency because they gain control that is simply not possible if people have actual control over their monetary assets. Looking back a year ago, an executive order signed by FJB explored the possibility of creating a centralized bank digital currency (CBDC) in the USA.

It’s tempting to forecast the demise of cash. In fact, people have been predicting the end of physical money for nearly 60 years. With the rise of credit cards, contactless payments, and cryptocurrencies like Bitcoin the death knells have only gotten louder. Then again, there are reports that the Norks can hack blockchain/crypto.

It may seem like physical money could soon be a thing of the past, but if you take a closer look at the evidence – and the intriguing psychological relationship we have developed with notes and coins – you’ll find that it’s premature to predict cash’s disappearance. Then there’s the question of global reliability. In the case of American money, cash has value beyond the borders of the country. In fact, two-thirds of cash holdings in American dollars exist outside the country. People store up cash for emergencies, to keep a safety net, and to ensure that whatever happens, their wad of cash will be there for them.

Most bribes paid worldwide to various government officials (such as the Biden Crime Family) are made with currency.  I simply can’t see the governments of the world going completely digital if only for that reason.

The Russian plan – Suffering from U.S. and EU sanctions, Russia made a surprise move—its central bank fixed the price of 5,000 rubles to a gram of gold. Few Western investors or executives noticed.  Then, Russia sprang its trap. Its finance ministry announced that it would require payment for oil, natural gas, and other of its significant exports in rubles.

“What the Russians did was a genius, I hate to say it,” explains Jack Bouroudjian, former president of Commerce Bank in Chicago and now chairman of the Global Smart Commodity Group. “It forces people to go to the Russian central bank and pay gold to get rubles to make the transactions.” The ruble had been trading in the range of 70 to 80 for a U.S. dollar. After the sanctions, it plummeted to 120. “Now the ruble basically recovered, trading 80 rubles to the dollar. And it’s because of the way they pegged the ruble to gold.”

I don’t see that the US will do anything but print paper backed only by “the full faith and credit of the USA.”

 

Tibetan Memes of the Day

 

Bullet Points

**U.S. Customs and Border Patrol officers arrested nearly three dozen men dressed in camouflage crossing the Mexican border into Arizona last week. “The Douglas Station’s #Horse Patrol Unit arrested a group of 32 migrants after illegally crossing the border,” Chief Patrol Agent for the Tucson Sector John Modlin announced on Twitter on Friday. “The 32 Mexican Nationals utilized camouflage clothing to blend into the surrounding vegetation.”

** A Lack of Ethics – “Specifically, we believe taxpayer resources may have been inappropriately used by senior White House lawyers, including Special Counsel to the President Richard Sauber, to personally benefit Joe Biden,” the complaint states.

“We further believe that the apparent representation of Mr. Biden by the White House Counsel’s Office in this matter creates an untenable conflict of interest for that office,” the complaint adds. “The result, intended or not, could be to reduce transparency into the mishandling of state secrets and foreclose disclosure of communications between White House Counsel staff while acting on behalf of Joe Biden in his capacity as a citizen facing the prospect of criminal prosecution.”

The letter, first reported by Fox News, is also addressed to the Justice Department’s chief of the Public Integrity Section and the White House counsel.

** A Proxy War requires — proxies (h/t Claudio) – Some uncharitable souls are saying that we’re fighting Russia to the last Ukrainian.

 

Special Gun salutes

The “Rogue salute” existed as a practice in the 16th-19th century. This was a signal for the fleet to gather on deck to witness the execution on the yardarm. A yellow flag was hoisted in the ship to be seen until the execution was carried out; when it was taken down, the crews could disperse. Likewise, this salute was also fired at the beginning of a court martial.

Image

The flagship Royal Sovereign firing a salute at the Nore with other warships and Admiralty yachts in attendance, by Cornelis van de Velde (1675-1729)

The other was the Morning and Evening Salute which served as a salute and hoist of the colors respectively. At the time of firing the evening gun, the sentries had to fire their muskets in a volley to show that their powder was dry and the muskets were in working order.

 

24 COMMENTS

  1. Predictions about cash – I think it was during the late ’60s that the leading lights in the IT world started saying that COBOL was obsolete, and would soon disappear.

    • I don’t see the end of fiat currency. What do you do when the power goes out? Or when the government decides that your $100K in the electronic account doesn’t exist anymore? Yes we could return to the barter system, I guess, but it would mean the end of civilization as we know it. The debit and credit systems work because of the faith that people have in them. The same is true of currency, of course. That can be eroded to no faith in terms of electronic cash the first time that it doesn’t work.

      I had a chip in the windshield and took it to be repaired at a national chain. I asked them what the cash (currency) price would be if I chose to pay that way. Seeing a way to make money without reporting the transaction and still providing the service, it was a 50% discount. I handed folding money and got what I wanted for half as much.

      • Some form of currency – sea shells, stones with holes in them, white money – has been around for a long time because it’s so useful. Just because a group of self-appointed (and self-named) geniuses think differently isn’t going to change that.

      • I use a hierarchy, first offer barter, then cash, then debit card whenever possible. It is dependent on what is needed. Person to person it works pretty well. Chains or other commercial entities not so much. Some places don’t take cash anymore regardless of what it says on paper currency “This note is legal tender for all debts, public and private”. Giving up paper currency will be giving up freedom in a lot of respects. Agree with LL; cash or some sort of substitute will always exist in some form or fashion.

  2. Questions the press will never ask: How much cash in FJB’s garage has gone ‘missing’? Was it the lawyers or the FBI? How much did FJB’s rates have to go up to cover the loss?

    The Dalai Lama, proving the difference between a wise man and a wise ass.

  3. if I didn’t know better (and wasn’t so paranoid), I might get to thinking that Vladimir Vladimirovich has thought about replacing the dollar with a new global (paper) currency

    • The BRICS countries have been working at that for a few years. (Brazil, Russia, India, China, South Africa – if memory and coffee are working properly) China has bought gold like crazy for several years and the BRICS alliance have talked about tying their currency to a “basket of commodities,” like some amount of gold, silver and other things that can’t be created ad infinitum.

      An old truism is “the value of paper money always returns to the value of the paper.” Voltaire said it a bit more elegantly.

      • They’re trying. China hasn’t allowed the RMB to float on the market. Beijing tells people what it’s worth. Given their economic problems, that’s unlikely to change for years. Russia can force customers to buy their oil with rubles, but I don’t see them making headway in making the ruble the world’s reserve currency. Maybe in time, they could gain traction. When the Russians set up redemption centers worldwide where people can exchange paper rubles for gold coins it will get my attention.

  4. Davos Caviar Lovefest:

    #6) Addressing why WEF attendees are all douchbags with money and why we are really trailer trash but in better suits and private jets.

    These nudges and nimrods apparently believe they have been Super Special Anointed by Heavenly Extraterrestrials, same ones that scoot around in big TicTac’s. No wonder the Brass tried to cover it up. Now we definitively know, WEF Attendees are not from this world.

    “The Ghillie Band of Brown Brothers”- Wonder if Mr. Potatohead Spudnuts will report from his Davos TushCush Chair they were “whipped with reins” upon capture? We do know these ILLEGAL’s will certainly get better treatment than Jan6th Political Prisoners.

    Cash is King- By illustration the value of a $50 note stays at $50 as it progresses through a series of transactions. A $50 Credit gets whittled back by “bank and processing fees” at each transaction. We used to call that skimming. Electronic “money” has so baseline, it is vapor, and will be worse than credit as Government Morons decide they can hide their skimming thievery even further, beyond the data mining and potential control aspects. Once these idiots remove cash we will never get it back.

  5. davos- they published a war game last year where ebola was weaponized and used to infect a”conference of elites” where upon they spread it to the ends of the earth and wiped out most of the population. schwab, soros and gates begged off davos this year citing scheduling conflicts.

  6. The pattern for how to control people is to convince them some other thing is more important than them. That thing can be family, friends, country, status, material goods, etc. Protection racket monsters are like aliens in Star Trek. Their special effects budget is small, so every monster is a human actor wearing a different hat. Presidents, Popes, and Al Gore are all selling the same structure: live according to our church’s rules or civilization is doomed, and you personally are going to prison. Galileo was punished because he disproved global warming, and if the church got that wrong, what else did they get wrong? I already don’t believe longer-established churches or governments, and WEF is just one more of those. When you tell a libertarian they are “selfish”, you are congratulating them on their good mental health.

    It’s not a “black” market, it’s a “free” market.

  7. The Saudis are talking seriously about dumping the petrodollar and selling oil for Yuan’s. When Ghadaffi did the same thing (Selling his oil for anything but dollars) Obama’s state department under the Chupacabra had him iced.

  8. I don’t see that the US will do anything but print paper backed only by “the full faith and credit of the USA.”
    I have as much confidence in that statement as I do in fair and honest elections.

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