The BRICS new trade currency is not a new topic.
Andrew Maguire and Andy Schectman have both been talking about it for quite some time. Here’s a link to the two of them discussing it together at episode 170 from Live From The Vault.
(You need to protect your wealth NOW Feat. Andy Schectman)
Well, it didn’t come out as a hyperlink. You’ll just need to copy/paste it.
Fascinating discussion.
It fooled me and did come out as a hyperlink 
I’m quite impressed by the BRICS currency. Decentralized networks with smart contract functions is very advanced, but the devil is in the details as they say. The way in which the network is decentralized is going to be the most important point because I suspect that’s where the ability to turn on CBDC type dystopian functionality lives. However, ‘the Unit’ shows just how much more in touch with reality BRICS nations are than the West.
Smart contracts are definitely a very valuable tool. I think they will be an important feature in rebuilding a society that can last. I’ve encouraged the Bitcoin enthusiasts to venture outside of BTC to see what’s going on in crypto more broadly and one of the reasons is smart contracts. There are currently many, many experiments running in that tech space. I’ll give an example of one of the most pivotal ones thus-far.
There is a type of smart contract called a DEX, short for decentralized exchange. Uniswap is the most well known of these. The main purpose of this type of smart contract is to enable people to trade without a centralized entity managing the trades. The idea of Uniswap is that users can lock their tokens into the smart contract, in pairs, as liquidity for other users to trade against. Each trade incurs a small trading fee (0.6% I think) which is used to both create the bid/ask spread and to reward liquidity providers. There is a simple function that is used to determine how any given trade affects the ratio of tokens and their relative value to automatically adjust things as trades occur. The smart contract also employs a routing algorithm to direct trades through multiple liquidity pairs as necessary to complete trades efficiently. Currently only crypto is traded on Uniswap, but in principle assets like stocks or bonds could be as well. It would set up a situation where people have “custody” of their own assets AND the ability to trade them near-instantly. The liquidity side is also decentralized as anyone can participate.
Think of all that in light of the great taking. There are lots of people playing around in this tech area innovating and DEXs are just one example. The biggest one thusfar, but still just one. And Chris was right, bankers hate what these represent and are willing to play dirty to protect the source of their livelihood. Much of what is happening in the public eye vis-a-vis bitcoin/ethereum/etc. is part of just such are protective racket.
Anyway, I’ll be happy to talk anyone’s ear off about this at the september event. Happy to show how some works as well.
I can see nothing right with the Democratic Party.
When they are talking about these technical features, this must be XRP/Ripple. They also offer now smart contracts and they are partner with all BRICS states. For example, XRP/Ripple is partnered with Russia since 2014 or even longer, you can find a lot of infos looking into archive.org and browse previous (and in the meantime deleted) articles also on the Ripple webpage!
I don’t want to know what the XRP price will be when they are backing it to something like gold (currently ca. 0,5$).
Two days ago at the grocery store I started crying and could not stop. It is one thing to discuss inflation in the abstract and quite another to get clobbered in the face by the price of things we used to consider basic, ordinary items. I have hamburger in my freezer that was $1.99 a pound: feel like I should send it off to a museum for bygone days.
I cried because the whole stupid thing is unfolding, and it was predictable and preventable. All this carnage was so unnecessary. And yet here we are. I cried for the people who can’t afford these prices, especially our seniors and young people. We are sending money to the Ukraine while our own people are suffering and illegal aliens get hundreds of dollars per day for whatever.
So I ran off to the ladies room to cry and the manager intercepted me. I know all the people who work there because I chitchat with them, so he was checking on me. I stood there blubbering some of the above while apologizing for my tears. “It’s Ok” he told me, “This happens every day.”
I often tell people that there are three… “options,” but they are not options. You don’t get to choose who you are:
1.) Truth Seeker. This type of person will always prioritize truth over all else. Social standing, group think, happiness will all come second to the pursuit of truth. These people don’t care who is standing next to them as long as they are the closest that they can get to the truth. These people will change on a dime if better evidence presents itself. They are often social outcasts. Society makes up many names for these people. They are shunned and isolated.
2.) Consensus Seeker: This type of person will always prioritize the group over all else. It’s all social for them. They will look to the majority to tell them what to think, where to stand, and who to shun. They will say that they care about truth, but real evidence is scary to them if it goes against the group and makes them feel uncomfortable. They will always be accepted and never called names. The group often hurts them, but they are not being hurt alone. Everyone in the group is equally hurt by the group.
3.) Willing Ignorant: This type of person doesn’t want to know. This person prioritizes the moment above all else. They don’t want to know what the group says or the data from the Truth Seeker. They just want to be away from that. They don’t know what is going on and they like it that way. They get annoyed whenever they have to hear about it. If it takes away from the here and now, then it is bad.
You can’t change. You can’t choose. You are who you are. I’ve been this way my whole life. For example, when I was a boy I told my mother that it is not sustainable (I used a different word. I didn’t know that word at the time) to continue to build more and more houses on open fields and farm land. Another example, when I was a boy I explained to some friends that I thought that one of the purposes of getting a cold was to remind you how good it felt to be healthy.
Even among this group, I just don’t care about the group at all. I’m fine with saying things that everyone hates or disagrees with. All I want is to be as close to truth as possible.
By the way, this whole post was kicked off when Chris said that people are saying to him that the USA might not be the place to live anymore; that fleeing is in many cases the right decision. And even though I can’t change who I am, I still get annoyed when the group kicks me down like it did more than a year ago when I proposed that stay and fight vs leave is not a black and white debate. In fact there are no black and white debates. It’s all gray. There are situations when you stay and fight and there are situations when you leave and there are situations when the best call could go either way.
I guess what I am saying is that I get tired of being a Truth Seeker. I get tired of being isolated. I hate the group because of what it does to me and I am envious of those in the group because they feel accepted.
But, I can’t change who I am. I will continue to talk about
how all human motivations are selfish (that’s why I wrote this post: it’s about me),
that you and I don’t matter, like are so close to zero that you might as well say you don’t matter at all (that’s why I write that many posts),
that if someone believes something their whole life and dies believing it, then the belief was not a belief it was a fact,
that humans are destroying this planet,
that we will follow conservation of personal energy all of the time,
that we are the princesses and princes of the world and we are just trying to preserve our status,
that our efforts to make sure that our families are prepared and safe stem from something deep inside that probably was kicked off in our childhood or infancy.
Because of the indirect nature of societal promises, it is possible for this theft to take place. The current method of “getting ahead” basically requires you to out-earn/save the theft.
Emphasis mine.
A few months into the 2020 pandemic scam, I wept thinking about how the government induced reduction in productivity was going to induce starvation.
Maybe they’ve convinced themselves that by siding with the projected “winners” they will fly through the consequences of CBDC with wealth and power intact. Good luck. History is littered with the chopped heads of supporters who suddenly found themselves in disfavor, sometimes at the mere whim of the king. In fact, isn’t that one of the rules for rulers? Those who help you into power aren’t the ones who can help keep you in power.
If silver continues to be used in the manufacturing of many things, and it becomes more and more scarce as a raw material, then wouldn’t its value likely increase?
“The Democratic Party, Lance Selfa demonstrates, is the graveyard of American social movements, its grassy knolls entombing the disappointed carcasses of Populism, Progressivism, Labor, and the Green movement. The Democrats should be required reading for anyone seeking to understand why Barack Obama turned out to be the undertaker of reform.”
When I saw the implementation of blockchain-contracts, I thought it was pretty cool. Best of all, we actually have an inventor for it. It isn’t a Big Secret, so its probably not CIA. And it will be validated by all the major powers using it. They have a vested interest in making sure it is secure. So I like the concept.
If I were on the side of Evil, I’d know that the weak point of any of these distributed (blockchain) systems is global network connectivity. If this really does become the new BRICS settlement currency, I would not be shocked if “terrorists” blew up cables and/or attacked routers fragmenting the network - on, and off, rinse-repeat - which would make the whole thing look like an unreliable settlement mechanism. Kinda like what happened to Nordstream.
Network fragmentation would probably hit Swift and the interbank transfers too, although since they are point-to-point, it may not be as impactful.
And “they” will also call using such a system “money laundering” (but definitely not “10, held by H for the Big Guy”).
I guess what I’m saying is - “they” won’t go down without a fight. And the combat will affect all of us, maybe especially global connectivity which we’ve come to expect and rely on.
Personally, I don’t see life as being so cut and dry. I think maybe there’s a multi-dimensional spectrum of possibilities with the three options you mention mixed in there somehow. For example, I think an effective leader needs to embody some combination of Truth Seeker and Consensus Seeker. Since there is utility in both seeking truth and seeking consensus, life experience over time should teach you how and when to incorporate aspects of each into your behavior. I guess one could think of it as “gaining wisdom” with age.
If this is truly the case, we are very close to the tipping point. Tears will turn to anger and rage when the basic necessities of life - food and shelter - become unobtainable. Some of the most dangerous people will be those who cannot feed their kids and loved ones.
I can empathise. Can’t say I have not had the same feelings. People are hurting something bad. How much longer can this go on before something breaks?
Agreed. Everything team Evil are pushing all depends on the grid. And the grid is getting to be a hungry beast, ever more so with the constant push for all thing electric to control us. So there is that vulnerability to failure.
Which does make one think there are little people solutions to Digital ID aka slavery. If a little sugar in a gas tank can cause a car engine to fail, what might cause local power failures? No power, no Digital ID. Ya, that will have other consequences too. But at least we will be FREE to deal with them on our own terms, not as constrained puppets.
Without a doubt. I’m president of our HOA. We have received complaints about dogs running loose and making “deposits” that get left behind. I wrote a 2-page message to all residents simply summarizing the local animal control ordinances exactly as they are written. No threats of HOA enforcement or reporting, just the facts.
All hell broke loose. They had suddenly lost an “entitlement” they believed they had in letting their dogs run free (in packs of 8-10) on our large, park-like Common Area during morning and evening social hours. Our Common Areas are a kind of collective private property, but still subject to leash laws.
Regardless of what we may think of HOAs or dog restraints, the point here is that if a relatively minor unexpected loss of entitlement can cause such nonlinear behavior, imagine what’s going to happen when major freedoms suddenly disappear. “Change happens slowly, then all at once.”
Yikes! Then watch the hand-wringing by the dog owners and the lawyers when the pack gobbles up a neighborhood toddler, god forbid…
Yes, and there is a bit more to the story. For years mail carriers have been attacked by dogs. The deep-pocket government now automatically sues the owner(s) of offending dog as a matter of course. And they always win. As a result, the judicial system has now become conditioned, in a kind of knee-jerk reaction, to award damages to victims.
More and more, HOAs are being included in the lawsuits brought by ordinary citizens that have been attacked. Woe be to the HOA Board that has not obtained D&O insurance and has not taken reasonable measures to minimize the risk of dog attacks on their Common Areas.