38 Comments

Not quite sure what you mean, but yes, if you can pay off your debts and own your own home, that's ideal. The podcasters I tend to listen to think a market crash is coming this year. The Fed is not pivoting any time soon.

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Ellen, thank you for this information. There may be other problems with the Dodd-Frank legislation.

Given the system that exists and our authoritarian arrangement, I'm puzzled as to how a public banking system could be implemented let alone survive the strangle hold of the Federal Reserve? The process of doing this is bound to be manipulated to serve political gaming.

Also, not sure if part 2 will address, but CBDC is moving forward. My understanding is that if/when it occurs it would undermine the existence of local community banks (the banks of last resort in the Dodd-Frank scenario).

It's seems the CBDC and the Federal Reserve are the 800 elephants in our room.

Lastly I'd really like to hear a discussion between you and Catherine Austin Fitts. I think you'd agree in theory regarding public banks, but I'm as puzzled by her take as your when we leave the theoretical realm and enter the political one.

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Thanks for that. I'll address those issues in Part 2, hopefully posted next week. The public Bank for North Dakota has survived and thrived. The Fed is not going to approve a CBDC, per Danielle DiMartino Booth, a Fed expert. It would kill the existing banking system. I see the Fed as a necessary deep pocket for liquidity.

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My colleague at 'BOOM Finance & Economic' feels the same way about CBDCs, Ellen, and when the BoE reported some confusing ideas about them last week, BOOM rightly challenged them: https://austrianpeter.substack.com/p/china-must-abandon-new-champions?utm_source=post-email-title&publication_id=762792&post_id=104209540&isFreemail=false&utm_medium=email

If you have time what is your take on BOOM's ideas please?

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Will check it out, thanks.

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Protect& Survive having read so many reports on China, I really don't know that anyone really knows what's going on, and/or they are throwing out conflicting messages in order to send people off in a number of dead-ends, that won't really mean anything.

What has been discussed is that the so-called developed nations are in unsustainable debt - passed serviceability and must radically eliminate through the a massive reset - centerpiece is CBDC. (Is this really so? If so are there other means?)

The Fed chair is beholding to Blackrock, big time. Blackrock is in deep with WEF and has infiltrated top down Western governments.

Has China been infiltrated by Big Tech as some have concluded, and that the billionaires in China are tied to big tech and policy?

For me, this economics of the powerful and wealthy cannot be reformed; It has and will continue to consume anything that tries. ND did a public bank when small agriculture still had power. The Federal Reserve was still new when that happened.

If the US remains an empire over the next decade or so, than during that time fiat currency can continue with endless Fed bailouts and increased debt to do what empires do: ENDLESS WAR.

If not, if a one world government is at hand, $30+ trillion debt will continue to grow, and it will likely do so in China (and Russia).

The answer is drastically reduce scale. Simplify economics and by all means make nature inclusive with any sort of economic consideration. Otherwise it's one big boom and bust.

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I think Powell is trying to throw off BlackRock -- and the offshore dollar market, and the derivatives casino. Why do you say he's beholden?

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Here (on the beholding): https://wallstreetonparade.com/2020/05/fed-chair-powell-has-upwards-of-11-6-million-invested-with-blackrock-the-firm-that-will-manage-a-750-billion-corporate-bond-bailout-program-for-the-fed/

Ellen I've read your books. I'm surprised you have faith in the Fed.

The system, all of it, is corrupt top to bottom. We've been a war 94% of US existence. All the "free money" is going to weapons manufactures and their cohorts. Fiat money is great for their bonuses and buy-backs. And they're not alone.

It's one big public-private partnership - the public funds go to private profit. The revolving door keeps the game going.

The US is an empire and everything we have is gotten through exploitation. This game has been going on for thousands of years.

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Thanks for reading my books. Blackrock has dropped 30% since its highs, and the Fed hasn't pivoted to save it or the mega-corporations it owns. I think, after listening to several commentators on the subject, that he is trying to break the Fed Put that has kept the Fed under the thumb of the speculative markets.

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Empires run on expansion. It can't stop expanding if it wants to continue to exist. It started early on in the US. Westward expansion was the mission and once there was no more, it was outward, and now space....

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All agreed Art, very good summary of our drastic condition. One of my readers in China (by email, he doesn't comment for obvious reasons, forgive English)) said in December: "China is evil and autocratic indeed. I can satirize you on the moral high ground, to cover up the poor powerless situation, but keep a respect for the practice of more than one billion people in this complex civilization.

China is changing. Sail carefully, cross the reef-strewn parts, and covet pirates outside, scumbags who covet power and warehouse wealth and trade goods inside."

He said that in response to my Dec Letter: "Dear Readers,

This week BOOM has done us all a great favour and illuminated the hidden dystopian programme to be imposed upon us by the WEF as they work towards their totalitarian ‘Great Reset’. The WEF pronounce that their maniacal global system will transform our world, to be ruled by a tiny elite-class of self-appointed experts versed in dark satanic beliefs, which will enable the survivors to reach the utopian pinnacle of global nirvana.

https://austrianpeter.substack.com/p/klaus-schwab-worried-about-china?sd=pf

This may help clarify China in their internal battle with WEF.

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Protect & Survive I'll read your substack account. China has an incredible ancient history.

But it has been battered mostly by Japan, and there's been great turmoil of civil war as well.

The western oligarchs, Rockefeller and others, think tanks, people like Henry Kissinger (mentor of Klaus Schwab) and Zbigniew Brzezinski laid the ground work for building China into a technocracy. Enormous amounts of capital and technology were invested. US big tech has been deeply ensconced. They do seem, today, to be a model for global governance.

But there's all kinds of complications. BRICS for one. Researcher Iain Davis has done excellent work on this. He see China and Russia as clearly part of this new order, and in ways ahead of the curve. The relationships are Global Public Partnerships. While China has its banking system much of it is structured like western banks (and of course the Bank of England) as is Russia's.

Personally I'm against all of this. But it's important to know what the plans are and how it continues to move forward.

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Again you are very right Art, and we surely need to track their moves. Iain Davis is excellent in this regard and I follow him - he is often on OffG with others like Kit Knightly, another switched on guy.

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Thank you for your response. I look forward to part II. Not so sure CAF would agree with the need for the Fed (if your position is one of Modern Monetary Theory than I understand but don't agree. Still very interested in your thoughts.)

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If you have time to read a book that's a really well written easy read, get "Layered Money" -- $9 I think on Amazon Kindle. He shows how the Fed is actually holding up the whole global system. You can't unravel that in a day or even a year. It's a credit-money system, and the Fed is the only source of the "reserves" backing that credit.

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I'll check it out. My understanding is that SWIFT is the bank of banks. And it is there that the central CBCD is planned to be driven. Of course, many nations central banks, like the Fed would run regions, etc. (Russia, China, et al).

No doubt the global economy has expanded beyond manageability. The Fed can drive inflation, stagflation, recession and depression. 2008 showed just how interdependent this system is.

It's a debt based system, serviced by taxpayers to pay for government loans to build and pay for millions of paychecks. The largest discretionary budget is pentagon that has never passed an audit and can't account for over 20 T dollars. It's a giant domestic money laundering system.

I think it's collapsing, but the moves by the WEF, et al (operations managers) are attempts to completely implode the system to rid it of this unsustainable debt and replace it with a digital system.

This is inhuman, but what we have only works like the game of Monopoly. Smoke and mirrors.

In a word: “What makes the difference between a gang and a state is the belief that there is a difference between a gang and a state.”

~ Jakub Bożydar Wiśniewski

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Central Bank Digital Currency (CBDC) - Federal Reserve Boardhttps://www.federalreserve.gov › central-bank-digital-c...

Nov 4, 2022 — CBDC is generally defined as a digital liability of a central bank that is widely available to the general public. Today in the United States, ...

Central Bank Digital Currency Tracker - Atlantic Councilhttps://www.atlanticcouncil.org › cbdctracker

A CBDC is virtual money created by a central bank. As cryptocurrencies and stablecoins become popular, central banks provide alternatives.

‎Project Aber · ‎The Abcs Of Cbdcs · ‎Related Content

What Is a Central Bank Digital Currency (CBDC)? - Investopediahttps://www.investopedia.com › terms › central-bank-di...

Mar 19, 2022 — A central bank digital currency is the digital form of a country's fiat currency. · A CBDC is issued and regulated by a nation's monetary ...

Is CBDC a Cryptocurrency?

Is CBDC Based on Blockchain?

Central Bank Digital Currency (CBDC) Trackerhttps://cbdctracker.org

... are issued by central banks of certain countries. CBDC Tracker is an information resource for CBDC with news, updates and technology information.

The Ascent of CBDCs - International Monetary Fundhttps://www.imf.org › Picture-this-The-ascent-of-CBDCs

Central bank digital currencies (CBDCs) are digital versions of cash that are issued and regulated by central banks. As such, they are more secure and ...

The Future of Money: Gearing up for Central Bank Digital ...https://www.imf.org › News › Articles › 2022/02/09 › s...

Feb 9, 2022 — The Future of Money: Gearing up for Central Bank Digital Currency ... In the Bahamas, the Sand Dollar—the local CBDC—has been in circulation ...

Legislators Introduce Bill To Prohibit Creation Of US CBDChttps://bitcoinmagazine.com › Legal

1 day ago — The bill, titled the “CBDC Anti-Surveillance State Act” details that “Except as specifically authorized under this Act, a Federal Reserve bank ...

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According to new ( * Atlantic Council * ) research, the United States, thanks to Project Cedar, has moved into development of a central bank digital currency and joined its colleagues at the European Central Bank, the Bank of Japan, and the Bank of England in making the leap forward. Dec 15, 2022

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They're developing a wholesale CBDC for trade with other central banks. Powell is opposed to a retail CBDC giving individuals FedAccounts.

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Sounds like the first step.

Each nation takes a different set of tactics based on its cultural background. It's a gradual process. There is a resistance which is to increase the use of cash exchanges whenever possible.

The move to digital exchanges isn't really currency, but driven by algorithms. "SMART" cities are being deployed, selectively at first. Each decade has been marked as a major milestone. Internet of things, fourth industrial revolution.

The CBDC and digital exchanges has been advanced in China (where social credits are used in cities) and Russia. The EU is on board.

Former Japanese Prime Minister Shinzo Abe was not on board. He was assassinated as he held, as I understand it, considerable power.

I think the markets are being throttled. Big hit last September and just back and forth. Power is being consolidated.

WEF (a high level front for those behind this) have laid out the plan. Biden has expressed it from the start - Build Back Better is a WEF slogan. However such plans could be foiled. (My sense is even then this plan in one form or another has been underway for a very long time.)

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I'm always amazed by your breadth of knowledge, Ellen, and I admit that in much of this I'm out of my depth. I'm looking forward to your Part II on solutions. It's looking pretty bleak from the cheap seats ;-)

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Thanks Tereza. Yes not saying it will be easy! Or that there are easy answers. But crises are when politicians actually start to think that out of the box solutions are feasible ...

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given the financial abuse that has already happened with Go Fund Me & PayPal penalizing select individuals, the dark scenario for government abuse of CBDC is highly plausible

https://emmer.house.gov/2022/1/emmer-introduces-legislation-to-prevent-unilateral-fed-control-of-a-u-s-digital-currency

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4IR: New twist in measuring productivity in digital agehttps://www.business-it.co.za › how-to-bridge-the-disco...

Apr 30, 2019 — “We need to start measuring on a much more granular level that shows us what people are working on, and whether they are being efficient.”.

Cisco VP highlights need for inclusivity when entering the 4IRhttps://insidetelecom.com › cisco-vp-highlights-need-fo...

Nov 11, 2021 — Top-down approaches to smart city planning often do not consider the idiosyncrasies which may occur on a more granular, grassroots level.

The 4 Industrial Revolutionshttps://ied.eu › project-updates › the-4-industrial-revoluti...

Taking a look back at the 3 important industrial revolutions that shaped the world of industry and sneaking a peak at the 4th industrial revolution!

Meet the Three Industrial Revolutions Unit | Salesforce Trailheadhttps://trailhead.salesforce.com › content › learn › modules

Learning Objectives. After completing this unit, you'll be able to: Define the term industrial revolution. Describe each of the first three industrial revol...

What Are the 4 Industrial Revolutions?https://www.upkeep.com › learning › four-industrial-revo...

The four industrial revolutions are coal, gas, electronics and nuclear, and the internet and renewable energy. Beginning from 1765 through the present day, we&#...

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Artificial Inteligence, Risk and How to Manage It.https://intercafe.ipb.ac.id › artificial-inteligence-risk-and...

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Ellen ,

Do You see a Reset of Any Nature or Stock Collapse in Next 9 months

If, so , Is Diversity out of Cash into Free & Clear Homes a ( Safe vs Bank Reset ? ) I know its just a Opinion but I would like Your Input If Possible

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Ellen , I have followed You over Thirty Years And You are ( BY FAR ) = VERY >< VERY < SMART PERSON !

Do You Think We have till 2024 Elections ?

Or should We diversify ASAP .Thank You , Robert Newsom E/M loanshomes@mail.com

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Central Bank Digital Currency (CBDC) - Federal Reserve Boardhttps://www.federalreserve.gov › central-bank-digital-c...

Nov 4, 2022 — CBDC is generally defined as a digital liability of a central bank that is widely available to the general public. Today in the United States, ...

Central Bank Digital Currency Tracker - Atlantic Councilhttps://www.atlanticcouncil.org › cbdctracker

A CBDC is virtual money created by a central bank. As cryptocurrencies and stablecoins become popular, central banks provide alternatives.

‎Project Aber · ‎The Abcs Of Cbdcs · ‎Related Content

What Is a Central Bank Digital Currency (CBDC)? - Investopediahttps://www.investopedia.com › terms › central-bank-di...

Mar 19, 2022 — A central bank digital currency is the digital form of a country's fiat currency. · A CBDC is issued and regulated by a nation's monetary ...

Is CBDC a Cryptocurrency?

Is CBDC Based on Blockchain?

Central Bank Digital Currency (CBDC) Trackerhttps://cbdctracker.org

... are issued by central banks of certain countries. CBDC Tracker is an information resource for CBDC with news, updates and technology information.

The Ascent of CBDCs - International Monetary Fundhttps://www.imf.org › Picture-this-The-ascent-of-CBDCs

Central bank digital currencies (CBDCs) are digital versions of cash that are issued and regulated by central banks. As such, they are more secure and ...

The Future of Money: Gearing up for Central Bank Digital ...https://www.imf.org › News › Articles › 2022/02/09 › s...

Feb 9, 2022 — The Future of Money: Gearing up for Central Bank Digital Currency ... In the Bahamas, the Sand Dollar—the local CBDC—has been in circulation ...

Legislators Introduce Bill To Prohibit Creation Of US CBDChttps://bitcoinmagazine.com › Legal

1 day ago — The bill, titled the “CBDC Anti-Surveillance State Act” details that “Except as specifically authorized under this Act, a Federal Reserve bank ...

Expand full comment

Is the US switching to digital currency?

According to new ( * Atlantic Council * ) research, the United States, thanks to Project Cedar, has moved into development of a central bank digital currency and joined its colleagues at the European Central Bank, the Bank of Japan, and the Bank of England in making the leap forward. Dec 15, 2022

Expand full comment

Ellen , I have followed You over Thirty Years And You are ( BY FAR ) = VERY >< VERY < SMART PERSON !

Do You Think We have till 2024 Elections ?

Or should We diversify ASAP .Thank You , Robert Newsom E/M loanshomes@mail.com

Passing Thought ( A BIG IF ) The Davos Bunch can Explode System & Replace with No Ownership

( * BUT THEM )=( THE NEW Caesers ) = in a 1 World Government Group = And tell World Population = They are Guaranteed Welfare & No Bills & Basically Section 8 Housing = ( In Reality Return to Company Housing & Store )

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