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A New Digital Cash System Was Just Unveiled At A Secret Meeting For Bankers In New York

Secret - Public DomainLast month, a “secret meeting” that involved more than 100 executives from some of the biggest financial institutions in the United States was held in New York City.  During this “secret meeting“, a company known as “Chain” unveiled a technology that transforms U.S. dollars into “pure digital assets”.  Reportedly, there were representatives from Nasdaq, Citigroup, Visa, Fidelity, Fiserv and Pfizer in the room, and Chain also claims to be partnering with Capital One, State Street, and First Data.  This “revolutionary” technology is intended to completely change the way that we use money, and it would represent a major step toward a cashless society.  But if this new digital cash system is going to be so good for society, why was it unveiled during a secret meeting for Wall Street bankers?  Is there something more going on here than we are being told?

None of us probably would have ever heard about this secret meeting if it was not for a report in Bloomberg.  The following comes from their article entitled “Inside the Secret Meeting Where Wall Street Tested Digital Cash“…

On a recent Monday in April, more than 100 executives from some of the world’s largest financial institutions gathered for a private meeting at the Times Square office of Nasdaq Inc. They weren’t there to just talk about blockchain, the new technology some predict will transform finance, but to build and experiment with the software.

By the end of the day, they had seen something revolutionary: U.S. dollars transformed into pure digital assets, able to be used to execute and settle a trade instantly. That’s the promise of a blockchain, where the cumbersome and error-prone system that takes days to move money across town or around the world is replaced with almost instant certainty.

So it is not just Michael Snyder from The Economic Collapse Blog that is referring to this gathering as a “secret meeting”.  This is actually how it was described by Bloomberg.  And I think that there is a very good reason why this meeting was held in secret, because many in the general public would definitely be alarmed by this giant step toward a cashless society.  Here is more on this new system from Bloomberg

While cash in a bank account moves electronically all the time today, there’s a distinction between that system and what it means to say money is digital. Electronic payments are really just messages that cash needs to move from one account to another, and this reconciliation is what adds time to the payments process. For customers, moving money between accounts can take days as banks wait for confirmations. Digital dollars, however, are pre-loaded into a system like a blockchain. From there, they can be swapped immediately for an asset.

“Instead of a record or message being moved, it’s the actual asset,” Ludwin said. “The payment and the settlement become the same thing.”

Why this is so alarming is because we are seeing other major moves toward a cashless system all over the planet.  In Sweden, 95 percent of all retail transactions are already cashless, and ATM machines are being removed by the hundreds.  In Denmark, government officials actually have a stated goal of “eradicating cash” by the year 2030.  And in Norway, the biggest bank in the country has publicly called for the complete elimination of all cash.

Other nations in Europe have already banned cash transactions over a certain amount. Here are just a couple of examples

As I have written about previously, cash transactions of more than 2,500 euros have already been banned in Spain, and France and Italy have both banned all cash transactions of more than 1,000 euros.

Little by little, cash is being eradicated, and what we have seen so far is just the beginning. 417 billion cashless transactions were conducted in 2014, and the final number for 2015 is projected to be much higher.

The global push toward a cashless society is only going to intensify, because banks and governments both tend to really like the idea of such a system.

Banks really like the concept of a cashless society because it would force everyone to be their customers.  There would be no more hiding cash in a mattress at home or trying to pay all of your bills with paper money.  Under a cashless system, we would all be dependent on the banks, and they would make lots of money whenever we swiped our cards or our “chips” were scanned.

Governments see a lot of advantages in a cashless society as well.  They tell us that they would be able to crack down on drug dealers, tax evaders, terrorists and money launderers, but the truth is that it would enable them to watch, track, monitor and control virtually all of our financial transactions.  Our lives would become open books to the government, and financial privacy would be a thing of the past.

In addition, the potential for tyranny would be absolutely off the charts.

Just imagine a world where the government could serve as the gatekeeper for who is allowed to use the cashless system and who is not.  They could require that we all submit to some sort of government-issued form of identification before being permitted to operate within the system, or it is even conceivable that a loyalty oath would be required.

Of course if you did not submit to their demands, you could not buy, sell, open a bank account or get a job without access to the cashless system.

Hopefully people can understand where this is going.  Paper money is a very important component of our freedom, and if it is taken away from us that will open the door for all sorts of abuse.

Even now, cash is slowly being “criminalized” in America.  For example, if cash is used to pay for a hotel room that is considered by federal authorities to be “suspicious activity” that should be reported to the government.  Of course it isn’t against the law to pay your hotel bill in cash just yet, but according to the government it is something that “terrorists” do so it needs to be closely watched.

It doesn’t take a whole lot of imagination to see where all of this is going.  And for those of us that understand what time it is, this is a clear indication that it is getting late in the game.

*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*

There Sure Is A Lot Of Buzz About A Potential Terror Attack On Christmas Day Or New Year’s Eve

2016 - Public DomainI have never seen more buzz about a potential terror attack during the holiday season than I am seeing right now.  Over the past couple of weeks, the mainstream media and the alternative media have both been full of headlines about the possibility of terrorism on Christmas Day or New Year’s Eve.  And personally, I have had numerous people contact me with their concerns or regarding something that they have heard from others.  In addition to threats from ISIS, there are many out there that are completely convinced that we could soon see a major false flag incident in the United States.  So are any of these rumors true?  Will we soon see a major terror incident in America?  I want to make it very clear that I do not know.  As an attorney, I have been trained to come to conclusions based on the evidence, and at this moment I do not have anything completely solid to report to you.  But I do believe that it is noteworthy that there is so much buzz about a potential terror attack that is coming in from so many different directions.

For example, earlier today a mainstream news report indicated that authorities had discovered a “credible threat” against New York City.  The phrase “credible threat” was later retracted, but it is a fact that NYPD Commissioner William Bratton did hold “an emergency meeting” on Tuesday to address the threat of terror…

Top NYPD brass including Commissioner William Bratton held an emergency meeting Tuesday to discuss the need for increased vigilance, sources said.

All New York City police officers received a bulletin Tuesday afternoon outlining the department’s tactical plan and warning officers to stay vigilant, according to sources. That internal memo mentioned social media being used as a tactic and that a possible attack could come without warning.

Expect to see increased police presence at iconic locations across multiple boroughs, including Times Square, St. Patrick’s Cathedral for Midnight Mass on Thursday, and Barclays Center in Brooklyn, marking the first time a threat has sparked a swell of police presence in a borough other than Manhattan.

In Germany, it is being reported that a former ISIS fighter is telling authorities that ISIS is planning “coordinated attacks across multiple European cities”

ISIS are threatening coordinated attacks across multiple European cities, a former militant who escaped from the terror group has revealed.

The former Islamic State fighter – called Harry S – recently escaped from the group in Syria and is now being questioned by the authorities in Germany.

He says, along with other fighters, he was asked if he would “bring jihad to their homeland”.

Could he be telling the truth?

You never know.  He might just be blowing a lot of hot air.  But after what recently took place in Paris and San Bernardino, we all need to be more diligent.

And without a doubt, it is quite probable that the next attack could be bigger than anything else that we have seen so far.  That same ex-ISIS fighter told the Germans that ISIS wants “something that happens everywhere at the same time”

Worryingly, as reported by Der Spiegel, he told police: “They want something that happens everywhere at the same time.

“All you need is to take a big knife, and go down to the streets and slighter every infidel you encounter.”

And there is some evidence that radical Islamists have been planning just such an attack inside the United States.  Just check out what authorities found when they recently raided the home of a 19-year-old jihadist in Pennsylvania

Thursday, The U.S. Department of Justice announced the arrest of 19-year-old Jalil Ibn Ameer Aziz, who lived in a home with his parents in the 1700 block of Fulton Street in Harrisburg.

According to an affidavit, Aziz was preparing to conduct or assist in an attack in the U.S. An investigation also revealed that Aziz attempted to aid ISIS supporters in traveling to Syria for the purpose of becoming ISIS fighters.

On November 27, investigators raided Aziz’s home and found five loaded M4-style high-capacity magazines, a modified kitchen knife, a thumb drive, medication and a balaclava inside a backpack Aziz’s kept inside a closet.

We also know that the San Bernardino shooters had accumulated quite an arsenal in their home as well.  Mike Adams of Natural News believes that this is yet more evidence that a “multi-city ISIS attack” was being planned…

I have reason to believe that a massive, multi-city ISIS attack will be unleashed across America in the near future.

Why do I believe this? Because the evidence points to the likelihood that the San Bernardino ISIS terrorists disobeyed orders and prematurely initiated their attack on a relatively small group. The twelve pipe bombs and thousands of rounds of ammunition found in their apartment point to the realization that they were preparing for something much larger.

If you’re a terrorist, you don’t build twelve pipe bombs and then leave them behind during your attack. You use them in large crowds, of course, to maximize the bloodshed and terror factor. The very existence of these pipe bombs — if indeed they weren’t planted by the feds — means that another, larger attack was in the planning stages and approaching activation.

Whether we see a major attack within the next couple of weeks or not, it is inevitable that the next one will happen at some point.  I think that the holidays are a flashpoint in particular because they have a great deal of symbolic meaning and because there are such large public gatherings of people around Christmas and on New Year’s Eve.

And the federal government recognizes this as well.  As Christmas draws closer, FEMA has been helping churches prepare for “active shooter incidents“, and the feds will be keeping a very close eye on New Year’s Eve celebrations in New York City and elsewhere.

Of course many Americans do not have much faith in the ability of the federal government to protect them.  In fact, there are some that are simply going to avoid any large public gatherings of people until after the holidays are over.

So are those individuals being paranoid or prudent?

Please feel free to tell us what you think by posting a comment below…

Did They Want More Violence In Ferguson? 10 ‘Coincidences’ Too Glaring To Ignore

Ferguson Civil Unrest - Photo by LoavesofbreadWas it a conspiracy or was it incompetence?  Those appear to be the only two alternatives that we are left with after the horrific violence that we witnessed in Ferguson on Monday night.  The first round of Ferguson rioting back in August took everyone by surprise, but this time authorities had more than three months to prepare.  They had the ability to control precisely when the grand jury decision would be announced and how many cops and National Guard troops would be deployed on the streets.  But despite all this, the violence in Ferguson on Monday night was even worse than we witnessed back in August.  Either this was a case of almost unbelievable incompetence, or there was someone out there that actually wanted this to happen.  If someone out there is actually trying to provoke more violence in Ferguson, then the rioters are being played like a fiddle.  Most of them have no idea that they could potentially just be pawns in a game that is far larger than they ever imagined.  The only other alternative to explain what we just saw is incompetence on a level that is absolutely laughable.  Something definitely does not smell right about all of this, and let us hope that at some point the American people get the truth.  The following are 10 “coincidences” from Monday night in Ferguson that are too glaring to ignore…

#1 Federal, state and local law enforcement authorities had more than three months to prepare for the violence that would follow the announcement of the grand jury decision.  The mainstream media endlessly hyped this controversy and everyone knew that trouble would be brewing.  But despite an enormous amount of time to prepare, very little was actually done to prevent any violence from happening.

#2 Someone made the decision to make the public announcement about the grand jury decision in the evening.  Anyone involved in law enforcement knows that crowd control is far more difficult after dark.  This also ensured that instead of being tied up with work or school, a maximum number of protesters would be able to be involved in the violence.

#3 Fortunately for the mainstream media, the announcement of the grand jury decision was perfectly timed to provide the largest possible number of prime time viewers for the big news networks.

#4 Just like back in August, no law enforcement authorities of any kind responded while dozens of businesses were vandalized, looted and set of fire.

#5 According to Ferguson Mayor James Knowles, National Guard troops were purposely held back from intervening in the rioting that was unleashed when the grand jury decision was made known to the public…

In a press conference, he called the delay “deeply concerning” and said the Guard troops were available but were not deployed when city officials asked.

The troops had been readied last week by Gov. Jay Nixon as the grand jury announcement neared. But as gunshots rang out in the night and looters torched buildings, they were nowhere to be seen.

#6 It is being reported that the heavily armed National Guard troops were limited to “keeping the peace at a courthouse, patrolling the outskirts of town and preventing disturbances in other suburbs” as horrific violence raged in the heart of Ferguson on Monday night.

#7 Missouri Lieutenant Governor Peter Kinder has accused Missouri Governor Jay Nixon of holding back the National Guard troops because of pressure from the Obama administration.  On Monday night, he angrily made the following statement to Fox News…

“Is the reason that the National Guard was not in there because the Obama Administration and the Holder Justice Department leaned on you to keep them out? I cannot imagine any other reason why the governor who mobilized the National Guard would not have them in there to stop this.”

#8 The Washington Post has documented that Attorney General Eric Holder had been in direct contact with Governor Nixon and had expressed “frustration” with the fact that the National Guard had been activated…

A top aide to Holder called the governor’s office earlier this week to express Holder’s displeasure and “frustration,” according to a Justice Department official.

“Instead of de-escalating the situation, the governor escalated it,” said the official, who spoke on the condition of anonymity because he was not authorized to speak on the subject. “He sent the wrong message. The tone of the press conference was counterproductive.”

#9 Firefighters in Ferguson did not immediately respond to calls to put out the multiple fires that were set by protesters.  As a result, many businesses essentially burned to the ground.  But this did make for some amazing television footage.

#10 In the worst of the “war zones”, journalists with cameras and microphones were crawling all over the place while there were hardly any police to be seen at all.  How is it possible that law enforcement could have failed so badly?  Could it be possible that this was orchestrated on purpose?

Sadly, as I have written about previously, the civil unrest that we are witnessing in Ferguson is just a small preview of what is coming to America.

The anger and frustration that are seething under the surface in this country have reached a boiling point.  Instead of coming together, we are seemingly more divided than ever.  Americans have been trained to hate one another, fear one another and blame one another.  I fear that we are not too far away from actually becoming ungovernable.

And when the next major wave of the economic crisis strikes and we start experiencing real suffering in this nation, the temper tantrums that we are going to witness in our major cities are going to make what is happening in Ferguson right now look like a Sunday picnic.

So buckle up and hold on, because it is going to be a really bumpy ride from here on out.

Ferguson is not the end – it is just the beginning of a horrible new chapter in American history.

A Jobs Report Conspiracy?

Well, isn’t that convenient?  The Obama campaign desperately needed the last employment report to be released before the election to show that the unemployment rate had fallen below 8 percent, and somehow it magically happened.  Even though non-farm payroll employment only increased by 114,000 last month (not enough to even keep up with population growth), the official unemployment rate fell from 8.1 percent to 7.8 percent.  So how did that happen?  Well, the unemployment number is not based on the survey of employers that showed that 114,000 jobs were added to the economy last month.  Rather it is based on a survey of households.  And that survey showed that the total number of Americans employed last month increased by a whopping 873,000 – almost eight times the number that the employer survey showed.  That figure for September (873,000) was the biggest one month increase in 29 years.  And it just happened to come at the exact perfect time for Barack Obama.  So was there a jobs report conspiracy?  Examine the evidence and decide for yourself.

The number of Americans with a job fell by 195,000 in July.

Then it fell by another 119,000 in August.

But somehow in September it miraculously exploded in the other direction and 873,000 jobs were added to the economy?

If you believe that, I have a bridge that I want to sell you.

Somehow, the largest increase in jobs in 29 years happened just when Barack Obama needed it the most.

Nah, that doesn’t sound fishy to me at all.

We are being told that a big reason for the huge increase was the number of Americans working part-time for “economic reasons”.  That number surged from 8.0 million in August to 8.6 million in September.

Why the sudden jump?

Nobody can really explain it.

And if you look at the U6 unemployment rate, nothing has really changed at all.  U6 is still at 14.7 percent just like it was last month.

But the media is not going to talk about the U6 rate.  Instead, all of the headlines are going to be about “7.8 percent”.

According to the survey of employers, the U.S. economy added fewer jobs in September than it did in August, and it added fewer jobs in August than it did in July.

So according to the survey of employers, the employment situation in the United States is getting worse.

But according to the household survey, we just had the greatest month of job creation since the first term of Ronald Reagan.

Something does not add up.

And as I have written about previously, the unemployment rate would actually be up around 11 percent instead of 7.8 percent if not for the millions of workers that the government claims “dropped out of the labor force” over the past few years because they became too discouraged to look for work.

So unemployment in America is still a massive crisis, but the media is boldly proclaiming that things are getting better and that we are on the road to recovery.

Of course Obama looks like the cat who ate the canary today.  He is just thrilled with the “7.8 percent” number.

But the truth is that according to the employer survey, job growth in the United States is actually slower than last year.  The following is from the Calculated Risk blog….

All that said, the economy has only added 1.3 million payroll jobs over the first nine months of the year. At this pace, the economy would only add around 1.8 million private sector jobs in 2012; less than the 2.1 million added in 2011.

Are you starting to see why people are so skeptical of this jobs report?

When the “7.8 percent” figure was released, there was immediately a wave of shock and unbelief throughout the financial world and all over the Internet.

The following is a sampling of skeptical quotes about this jobs report….

Former GE chief Jack Welch

Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers

Chapwood Capital Investment Management Managing Partner Ed Butowsky

I feel like I’m watching a movie. There is no way in the world these numbers are accurate.

Neil Irwin of the Washington Post

“Weird that payrolls are exactly on forecast but household survey is far better.”

Conn Carroll, senior editorial writer for the Washington Examiner

While it is highly improbable that BLS conspired to cook the books, there is still a huge 756,000 job gap between the number of jobs employers told the Labor Department they created in September (114k), and the number of Americans who told the labor department that they got new jobs (873k).

U.S. Representative Allen West

I agree with former GE CEO Jack Welch, Chicago style politics is at work here. Somehow by manipulation of data we are all of a sudden below 8 percent unemployment, a month from the Presidential election. This is Orwellian to say the least and representative of Saul Alinsky tactics from the book “Rules for Radicals”- a must read for all who want to know how the left strategize . Trust the Obama administration? Sure, and the spontaneous reaction to a video caused the death of our Ambassador……and pigs fly.

Gluskin Sheff’s David Rosenberg

That the 7.8 percent jobless rate takes it to the level that prevailed when the President took office in January 2009 has raised many an eyebrow. I don’t believe in conspiracy theories. But I don’t believe in the Household Survey either. 

This notoriously volatile indicator has become even more so in recent months. It showed a 195K slide in July and a 119K decline in August, to only then reveal a massive 873K surge in September.

Radio host Laura Ingraham

“Jobs #s from Labor Secretary Hilda Solis are total pro-Obama propaganda–labor force participation rate at 30-yr low. Abysmal!”

Americans for Limited Government

“Either the Federal Reserve, which has its fingers on the pulse of every element of the economy, and the Bureau of Labor Statistics manufacturing survey report are grievously wrong or the number used to calculate the unemployment rate are wrong, or worse manipulated. Given that these numbers conveniently meet Obama’s campaign promises one month before the election, the conclusions are obvious.”

Rick Santelli of CNBC

“I told you they’d get it under 8 percent — they did! You can let America decide how they got there!”

Of course the backlash in the media against skepticism of the jobs report has been very forceful.

Already, those that are doubtful of the legitimacy of the jobs report are being called “truthers” – as if there is something wrong with wanting to know the truth.

Sadly, that is how things work these days.  If you don’t like the viewpoint that some people are expressing, you just label them “conspiracy theorists”.

And when someone is labeled a “conspiracy theorist”, that is code for “that person is so crazy that you should not listen to anything they say”.

But the truth is that we live in a world where often people do things that they are not supposed to be doing.

When something rather strange happens, it is not wrong to investigate and try to figure out what is going on.

And this jobs report seems very, very odd.

It sure does seem rather strange that the household survey is showing almost 8 times as many jobs created as the employer survey does.

It sure does seem rather strange that 873,000 more Americans were working in September (the largest increase in 29 years) after decreases in both July and August.

It sure does seem rather strange that the unemployment rate dropped under 8 percent at the exact moment when Barack Obama needed it the most.

But perhaps all of this is just a coincidence.

What do you think?

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