Bond Market Collapse and the Banning of Cash

logopodcastOff the microphone of RE

Follow us on Twitter @doomstead666
Friend us on Facebook

Aired on the Doomstead Diner on May 22, 2015

Visit the New Diner News Page for Daily Updates from around the Collapse Blogosphere

MoneyHoleDiscuss this Rant at the Podcast Table inside the Diner

 

Snippet:

…Bitcoins, a relatively new form of electronic money are also often hawked as the latest and greatest solution to keeping your money safe. Except EVERYBODY KNOWS about Mt. Gox by now. From Wiki:

Mt. Gox was a Bitcoin exchange based in Tokyo, Japan. It was launched in July 2010, and by 2013 was handling 70% of all Bitcoin transactions.[1] In February 2014, the Mt. Gox company suspended trading, closed its website and exchange service, and filed for a form of bankruptcy protection from creditors called minji saisei, or civil rehabilitation, to allow courts to seek a buyer.[2][3] In April 2014, the company began liquidation proceedings.[4] It announced that around 850,000 bitcoins belonging to customers and the company were missing and likely stolen, an amount valued at more than $450 million at the time.[5][6] Although 200,000 bitcoins have since been "found", the reason(s) for the disappearance—theft, fraud, mismanagement, or a combination of these—are unclear as of March 2014.[7]

You think Fraud, Mismanagement and Hacking will STOP if money goes cashless? OF COURSE NOT, IT WILL GET WORSE! There is no computer system ever that is foolproof and incapable of being hacked, and of course the rewards for hacking such a system or “mismanaging” it gets bigger all the time, so the Best & the Brightest spend all their time figuring out how to do that…

For the rest, LISTEN TO THE RANT!!!

Full Rant Transcript available HERE

ALSO, IF YOU HAVE NOT DONE SO ALREADY, TAKE THE SURVEY ON NEAR TERM HUMAN EXTINCTION BELOW!

3 Responses to Bond Market Collapse and the Banning of Cash

  • Pingback: Bond Market Collapse and the Banning of Cash | ...

  • Musashi says:

    Bang on, RE.  Tx as always for my daily cuppa doomer humour!

  • tagio says:

    Another BIG problem with banning cash.  How is the US Military going to pay off the locals to keep the peace in Iraq and other places in the MidEast, Ukraine or elsewhere in the world if they can't ship BILLIONS in pallets of cash to hand out?  Do you think that offering to open a bank account at JP Morgan Chase for the local warlords with free online banking is going to fly?  Oooops, lolz, there goes US foreign policy!   Because "winning hearts and minds" = doling out beaucoup FRNs, bearer instruments, good anywhere. 

    See, e.g., "How the US sent $12bn in cash to Iraq and watched it vanish," .http://www.theguardian.com/world/2007/feb/08/usa.iraq1  

Leave a Reply

Your email address will not be published. Required fields are marked *

Support the Diner
Search the Diner
Surveys & Podcasts

NEW SURVEY

Renewable Energy

VISIT AND FOLLOW US ON DINER SOUNDCLOUD

" As a daily reader of all of the doomsday blogs, e.g. the Diner, Nature Bats Last, Zerohedge, Scribbler, etc… I must say that I most look forward to your “off the microphone” rants. Your analysis, insights, and conclusions are always logical, well supported, and clearly articulated – a trifecta not frequently achieved."- Joe D
Archives
Global Diners

View Full Diner Stats

Global Population Stats

Enter a Country Name for full Population & Demographic Statistics

Lake Mead Watch

http://si.wsj.net/public/resources/images/NA-BX686_LakeMe_G_20130816175615.jpg

loading

Inside the Diner

Quote from: Eddie on April 24, 2017, 06:53:26 PMI went to a wedding on Friday, the nephew of a good friend, someone who went to school with my kids. After that, the missus and I had dinner and drove out to the lake cottage, arr...

Every time a picture of America’s Coolest Prez Ever gets posted on social media, the internet lights up like a Christmas...

Thanx for you replies Eddie and AZ!! 

The problem with these HMD's (home made deals) is one power failure & your whole afternoon is ruined.A dead cat bounce at best.

2017-04-23 - Legalized marijuana could help pay teachers in South Dakota:http://www.usatoday.com/story/news/politics/2017/04/03/cou...

Diner Twitter feed
Knarf’s Knewz

A recent string of robberies on BART trains took a [...]

US West enters 'new era' of unstoppable [...]

Doctors will be able to prescribe the medicinal us [...]

After years of huge losses and store closings, the [...]

Diner Newz Feeds
  • Surly
  • Agelbert
  • Knarf
  • Golden Oxen
  • Frostbite Falls

The Doomstead Diner Daily 4/25[html] [...]

Doomstead Diner Daily 4/24[html] [...]

Quote from: Surly1 on April 23, 2017, 10:06:41 AM[ [...]

Maritime Flags of Convenience VisualizedAugust 20, [...]

Quote from: agelbert on April 24, 2017, 11:48:23 A [...]

QuoteThe US is the wrecking machine that is destro [...]

Quote from: RE on April 23, 2017, 08:33:34 PMThe W [...]

A recent string of robberies on BART trains took a [...]

US West enters 'new era' of unstoppable [...]

Doctors will be able to prescribe the medicinal us [...]

After years of huge losses and store closings, the [...]

Saudi Arabia Switching to BRICS in Response to US [...]

Gold got hit again early this morning. The Masters [...]

Gold got algo-smacked yesterday just ahead of the [...]

pump n' dump pump n' dump pump n' d [...]

All the saber rattling is helping gold, which this [...]

Quote from: Palloy2 on April 22, 2017, 09:15:57 PM [...]

What OS, version, and screen pixels?  Android Kit- [...]

OK!  I have decided on the New Tablet to go with t [...]

First they came for the Bats, and I did not speak [...]

Along with discussing the attributes and prices on [...]

Alternate Perspectives
  • Two Ice Floes
  • Jumping Jack Flash
  • From Filmers to Farmers

Spring Has Sprung By Cognitive Dissonance   My apologies for being absent for the last week or so, b [...]

First Impression By Cognitive Dissonance . "You never get a second chance to make a first impre [...]

Fear, Pain and First Till By Cognitive Dissonance   Because I have been struggling with back issues [...]

It Hurts When I Do This By Cognitive Dissonance   “Well, then don’t do that” is the proper response [...]

Standard Issue Incompetence - More Evidence of Imperial Decay (Time for Fight or Flight?) By Cogniti [...]

Event Update For 2017-04-23http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-04-22http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-04-21http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-04-20http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-04-19http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

When you wish upon a star the Blue Fairy sends Tinker Bell, who plants a magic seed, which grows int [...]

Wendell Berry: "What I stand for is what I stand on"; Fanfare Ciocărlia: "What we pla [...]

The sounds of the Romanian countryside, unleashed by Fanfare Ciocărlia for twenty years and counting [...]

Fanfare Ciocărlia's lead vocalists (and trumpet players) Radulescu Lazar and Costică "Cima [...]

When I finally made the first steps to end my abstention after more than ten years in the "musi [...]

Daily Doom Photo

man-watching-tv

Sustainability
  • Peak Surfer
  • SUN
  • Transition Voice

The Greater Fool"The overdeveloped countries are raising generations of gamblers."  All ecosystems, includ [...]

Confounding Collapse"As brilliant as your conceptual breakthrough may be, there is no escaping your cultural milieu [...]

The Flies of Summer"Any faith that China will be standing at the base of the burning building with a fireman’s net [...]

The Cool Lab"Is it possible that technology no more complicated than an Easy Bake Oven — one that pays for [...]

Rescuing Los Angeles"How can we use our hard wiring to communicate to the herd that it is time to veer off from a r [...]

 The Daily SUN☼ Building a Better Tomorrow by Sustaining Universal Needs April 3, 2017 Powering Down [...]

Off the keyboard of Bob Montgomery Follow us on Twitter @doomstead666 Friend us on Facebook Publishe [...]

Visit SUN on Facebook Here [...]

Click here to visit Sustaining Universal Needs’ YouTube Channel! [...]

In the echo-sphere of political punditry consensus forms rapidly, gels, and then, in short order…cal [...]

Discussions with figures from Noam Chomsky and Peter Senge to Thich Nhat Hanh and the Dalai Lama off [...]

Lefty Greenies have some laudable ideas. Why is it then that they don't bother to really build [...]

Democracy and politics would be messy business even if all participants were saints. But America doe [...]

A new book argues that, in order to survive climate change and peak oil, the global money economy ne [...]

Top Commentariats
  • Our Finite World
  • Economic Undertow

And still under the assumption it is instant apocalypse. What if collapse is local and personal. You [...]

If there is a "mad max" scenario coming up, what will going to sea accomplish? So many pro [...]

Debt forgiveness is not the problem. Debt is the problem. We have no need for debt. Our system was d [...]

People from all walks of life end up driving taxis for a variety of reasons. It's more fun and [...]

I somewhat agree. Sooner or later there will be oil shortages and price spikes due to insufficient o [...]

Today's required reading: http://energyskeptic.com/2017/art-berman-oil-prices-lower-forever-har [...]

Steve, that video hurt my eyes! No, G*d, no! Things must be pretty bad not far below the surface, ZH [...]

Like I have been saying all over the place the tptb needs to maintain the illusion that it is still [...]

Missing the cowboys - and you too, Steve. https://www.youtube.com/watch?v=2d9DfnJwRNk [...]

Rape! Murder! Just an economist away. [...]

RE Economics

Going Cashless

Off the keyboard of RE Follow us on Twitter @doomstead666...

Simplifying the Final Countdown

Off the keyboard of RE Follow us on Twitter @doomstead666...

Bond Market Collapse and the Banning of Cash

Off the microphone of RE Follow us on Twitter @doomstead666...

Do Central Bankers Recognize there is NO GROWTH?

Discuss this article @ the ECONOMICS TABLE inside the...

Singularity of the Dollar

Off the Keyboard of RE Follow us on Twitter @doomstead666...

Kurrency Kollapse: To Print or Not To Print?

Off the microphone of RE Follow us on Twitter @doomstead666...

SWISSIE CAPITULATION!

Off the microphone of RE Follow us on Twitter @doomstead666...

Of Heat Sinks & Debt Sinks: A Thermodynamic View of Money

Off the keyboard of RE Follow us on Twitter @doomstead666...

Merry Doomy Christmas

Off the keyboard of RE Follow us on Twitter @doomstead666...

Peak Customers: The Final Liquidation Sale

Off the keyboard of RE Follow us on Twitter @doomstead666...

Collapse Fiction
Useful Links
Technical Journals

This paper highlights the results of bioclimatic-envelope modeling of whiptail lizards belonging to [...]

Extreme weather, by definition, is any unexpected, unusual, unpredictable, severe or unseasonal weat [...]

Cities generally adopt territorial- or production-based rather than consumption-based emissions acco [...]

Follow on our http://www.doomsteaddiner.net/forum/