The Next Financial Paradigm?
Zero Hedge users mostly agree the financial system will implode. It doesn't take more than high school math skills to calculate that the current debt based money system has implosion built in, and it's guaranteed (this is one rare case we can use such a word in finance!), because at some point, not enough new money can be created to pay off an ever increasing debt base. Collapse is a mathematical certainty. What is not certain is when this will happen, what will be the trigger, how entities will react, and other wildcard factors.
Many of us know this collapse is coming, and are either feathering our nests as much as possible, or just waiting to time the collapse that we all exit at the same time (as is the Wall Street way). What we don't do often, is discuss what's next? Maybe we should ask Bob, he'll tell us what's next.
What happens after the financial collapse? Hopefully, and this is one of the more likely scenarios, there are enough resources in the west to keep the system running on a temporary basis until a new system can be implemented. This is up to debate but we aren't betting on Zombie Apocalypse or end of Mayan calendar or Alien invasion. Of course anything is possible. But let's think about it for a moment. The financial system is a complete illusion, money does not exist. But there is a huge physical economy, a real economy, that will not be destroyed at all during the collapse (unless people are upset and burn down buildings). We'll still have factories, machines, tools, fuel, commodities, and last but certainly not least, human capital. So restarting will theoretically be easy, it's just a question of organization. And whoever is in power at that time, will have the largest vote. So the most likely scenario is they will decide what the new system will be. Is this why large organizations, such as The Feds, are targeting nobodys on the fringe, with a vengence?
As the author of the ZH article points out:
But HSBC launders billions for Mexican drug cartels and they can continue their operations no problem.
Caldwell doesn’t accept U.S. dollars or any type of fiat currency. You send him bitcoins via the internet, and he sends you back metal coins via the U.S. Postal Service.To spend bitcoins, you need a secret digital key — a string of numbers and letters — and when Caldwell makes the coins, he hides this key behind a tamper-resistant strip.
So long as you can keep your Casascius bitcoins safe, nobody can learn the key. To date, Caldwell has minted nearly 90,000 bitcoins in various denominations. That’s worth about $82 million at today’s exchange rate.
Because he runs a bitcoin-only business, Caldwell says there’s no Casascius bank account for authorities to seize. But he adds that he has no desire to anger the feds, whether he agrees with them or not. So he’s cranking out his last few orders and talking to his lawyer. He says this may spell the end of Casascius coins. “It’s possible. I haven’t come to a final conclusion,” he says.
What a complete and total joke this government is. Don’t they have anything better to do?