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

Whatever Eddie, I agree with your sentiments that it is most likely a good entry point for traders.Have all I want currently, as explained earlier in a reply to you, and am just going to sit pat. Too bearish to be buying anything but Gold currently. ...

It's only the TSX that is making noise. It is assumed they can go to Vancouver or OTC, or they could just spin off the US assets into an OTC company.  But because these stocks are mostly owned by Canadians, and because Canada is very generous in allowi...

Quote from: RE on Today at 05:56:35 AMQuote from: Golden Oxen on Today at 03:53:07 AMThe article forgot to mention who the voters had for an alternative.[img width=1000]h...

Quote from: Eddie on Today at 05:54:35 AMIt's been ongoing for a few months.Being delisted is not a big deal unless they go OTC, which is not tax advantaged for Canadians. Otherwise it's just be a nuisance. Buying oppo...

Quote from: Golden Oxen on Today at 03:53:07 AMThe article forgot to mention who the voters had for an alternative.[img width=1000]http://www.trbimg.com/img-57c85719/turbine/hc-green-party-presidential-...

Recent Facebook Posts

Joy Reid on Twitter

Bueller? Bueller? https://t.co/MewViggSEV

1 hour ago

Retweeted Amy Siskind (@Amy_Siskind): November 7 elections are 3 weeks away. We gotta show up and get our friends there too. Our first chance..

1 hour ago

Retweeted Marcus H. Johnson (@marcushjohnson): If Niger happened under President Hillary Clinton it would be Benghazi.

1 hour ago

Retweeted Evan McMullin (@Evan_McMullin): I promise you this: If a Democrat won the presidency with the help of a foreign adversary, GOP leaders..

1 hour ago

driftglass on Twitter

This was yesterday but could be any day of the week. https://t.co/x0bIvBY2yt

1 hour ago

Diner Twitter feed

Knarf’s Knewz

The extinction crisis extends far beyond rare and [...]

Young people holding signs spelling the word “demo [...]

Across the country, people who committed no crimes [...]

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

Doomstead Diner Daily 10/18[html] [...]

Doomstead Diner Daily 10/17[html] [...]

Doomstead Diner Daily 10/16[html] [...]

 10 million from Larry. See what I mean about infl [...]

Quote from: Eddie on October 15, 2017, 08:58:25 PM [...]

I haven't had a chance to listen to the video [...]

Quote from: agelbert on October 15, 2017, 07:38:28 [...]

Quote from: RE on October 15, 2017, 06:20:12 PMQuo [...]

Quote from: agelbert on October 15, 2017, 05:19:46 [...]

The extinction crisis extends far beyond rare and [...]

Young people holding signs spelling the word “demo [...]

Across the country, people who committed no crimes [...]

Quote from: azozeo on October 17, 2017, 04:55:28 A [...]

https://www.silverdoctors.com/gold/gold-news/peak- [...]

Earth girls are easy.... [...]

Quote from: Golden Oxen on October 17, 2017, 03:47 [...]

Quote from: azozeo on October 17, 2017, 12:40:39 P [...]

Quote from: Golden Oxen on October 17, 2017, 12:50 [...]

It would take more than a skinny prick to get that [...]

QuoteREMOVE THIS POST !your killin' me man... [...]

Getting back to the 1st & foremost topic, RE [...]

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

Small Town Mountain Living by Cognitive Dissonance   I'm a small town boy. Born and bred small [...]

An Act of Pure Evil By Cognitive Dissonance   This is being written the day after the mass shooting [...]

This and That Vol. 2 – Talking Your Book By Cognitive Dissonance   I don’t know what’s going on in y [...]

Of Harvests and Hurricanes By Cognitive Dissonance   Aside from the planting and harvesting of vario [...]

The American Way: Mindless Pursuit By Cognitive Dissonance   It’s actually embarrassing if I’m to be [...]

Event Update For 2017-10-16http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-10-15http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-10-14http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-10-13http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-10-12http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Don't look now James, but that's not just a monkey on your back! (unadulterated photo via [...]

Cary Fowler in front of the Svalbard Global Seed Vault during its construction in 2007 (photo by Bai [...]

With a bit of ice on the floor depositers could almost ride the seeds right on in (photo by Global C [...]

Well, at least it was made sure that the Svalbard Global Seed Vault looks real pretty (photo courtes [...]

Daily Doom Photo

man-watching-tv

Sustainability
  • Peak Surfer
  • SUN
  • Transition Voice

Giving Ethical Murder Its Due"Trying to sell scenarios based on degrowth or frugal living is like trying to sell your Elvis [...]

The Open Door"We have before us two roads"It was two years ago, in the bookstore at Pleasant Hill Shake [...]

A Man Who Planted Trees"Jean Giorno’s fictional character, Elzéard Bouffier, picked up acorns, sorted them and planted [...]

Stirring the Pot"Are we ready now to admit that by tampering with weather we have been poking the hornet’s nest [...]

Is Apple Acing Chemistry but Flunking Biology?"It used to be that half of all heart patients first report their condition to their physician [...]

The folks at Windward have been doing great work at living sustainably for many years now.  Part of [...]

 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 [...]

Americans are good on the "thoughts and prayers" thing. Also not so bad about digging in f [...]

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 [...]

Top Commentariats
  • Our Finite World
  • Economic Undertow

Dan said: "Peak oil due to EROEI will be masked as “peak demand.” I’m curious for others’ thoug [...]

Expect more along these lines in the future, even in the absence of natural disasters http://www.the [...]

What a brave man - a few like him in every generation to set an example for the rest of us. The pipe [...]

I'm not sure why this comment was held up, it does not bide well for 'Artificial Intellige [...]

Reading the latest nuclear report is eye opening. The French section is electric! I used to be such [...]

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

In Finnish Lapland, reindeer herders’ activity is strongly dependent on the surrounding natural envi [...]

Urban air quality in most megacities has been found to be critical and Kolkata Metropolitan City is [...]

Nepal has an extreme altitudinal range from 60–8850 m with heterogeneous topography and distinct cli [...]

Indian summer monsoon (ISM) plays an important role in the weather and climate system over India. Th [...]

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