If (when?) WW3 breaks loose it will be about the world's reserve currency.
There will be lots of propaganda about liberating people from tyranny, spreading Democracy, and human rights.
But the real reason will be to keep the U.S. Dollar as the world's reserve currency.
"The unforgivable sin of Hitler's Germany was to develop a new economic system by which the international bankers were deprived of their profits.” -- Winston Churchill
From the article I posted:
We are currently working on a draft international agreement on the introduction of a new world settlement currency, pegged to the national currencies of the participating countries and to exchange-traded goods that determine real values. We won’t need American and European banks. A new payment system based on modern digital technologies with a blockchain is developing in the world, where banks are losing their importance.
That's probably going to mean WW3.
Curious and I mean that respectfully to learn - if it's pegged to national currencies of participating countries - how does that switch happen? US dollar would have to be left out which would mean that this new uber currency would be pegged to others. Which other currencies/countries would carry enough "weight" to make this useful or are they talking pegged to a pile of them for stability sake. Seems like a real PITA and it's fiat by another name is it not? What's the reserve item (gold) to give it value? Those goods - what goods? Who determines the value of those goods? Those goods only have value if you have customers. Americans are consumers - you crashed their economy, we're not buying. Goods' value goes in the tank.
I've been around a ton of blockchain people - it's interesting but for the most part it's a solution in search of a problem. The common saying is that there's someone out there stating that forest fires could be prevented with blockchain. I get it - they'd use it to provide some sort of data fidelity and integrity to these currency moves/payments - but what's the value of this new currency - other than crashing the American currency considering the work needed and more importantly TRUST needed amongst so many competing ideologies and interests?
Put 4 people in a room with 1000 dollars and ask them to spend it "best" - everyone has competing ideas about what's the best thing to do with it - it's value to each is separate. Savings, phone, medical bills etc.
Now create a currency with 4-25 countries and get them to agree upon its value and "best" way to determine that to the tune of trillions. I just don't see you doing that without starting with a position of strength and who has that strength? Really?
