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: knarf on Today at 04:54:07 AMRemnants of an ape-like creature place the last common ancestor of chimpanzees and humans in the Mediterranean, not East Africa.[img width=1200 height=800]http://e3.365dm....

Amazing we don't have a thread specifically for UE issues.Things not looking too good for the Young Men these days.Kickoff article below.RE[url=https://www.bostonglobe.com/business/2017/05/21/young-men-falling-bottom-income-ladder/ncYhOoItuoqdlApn6...

Remnants of an ape-like creature place the last common ancestor of chimpanzees and humans in the Mediterranean, not East Africa.[img width=1200 height=800]http://e3.365dm.com/17/05/1920x1080/58fd8a5a3b7aab1c5078866b73f652d35bf0e501937513364e425...

Government reforms do not reach children worst affected by conflict and poverty, says Unicef report, calling for an end to blocks on aid deliveries[img]https://i.guim.co.uk/img/media/89e11bad6aea471d544c4d0d6b735a559100e1a5/0_0_3000_1800/master...

Went to bed for an hour to see if I could get some sleep.  No luck.  Back out of bed now, creamed up and rubbing my itchy skin again.  I don't think I have slept more than an hour at a time in at least a week.  I can't eat, I can't sleep and I can't sh...

Diner Twitter feed
Knarf’s Knewz

 Ke Jie, the world’s top Go player, reacting durin [...]

Some of the more than 140 men detained after a rai [...]

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

Quote from: luciddreams on May 19, 2017, 08:57:09 [...]

Quote from: Surly1 on May 18, 2017, 06:25:45 AMDow [...]

The Twitteverse reacts:Tea Pain‏ @TeaPainUSA  28m2 [...]

The Collapse Is Confirmed! Signs Of The Imminent E [...]

Journeyman Pictures Overdose: The Next Financial C [...]

Jim Rogers It s Time to Prepare MAY 2017 will be b [...]

Quote from: RE on May 15, 2017, 09:53:06 AM[url=ht [...]

 Ke Jie, the world’s top Go player, reacting durin [...]

Some of the more than 140 men detained after a rai [...]

Liens Filed Against the Federal Reserve: The Key t [...]

All this sabre rattling & the best gold can do [...]

The whole nuclear war thing must be a deliberate s [...]

Quote from: azozeo on April 25, 2017, 01:59:58 PMT [...]

There may not be a banking system after next week. [...]

Today's Kollapsnik Bot Newz Aggregations[html [...]

The "Greatest Show on Earth" is no more. [...]

First it was the Bats, then it was the Scorpions, [...]

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

Seeing…and Being Seen By Cognitive Dissonance   While I suspect western culture has always been affl [...]

I grew up outdoors, returning to the nest only to refuel and recharge. As a child of the 1950's [...]

You Only Have One Inalienable Right Part One A Rant By Cognitive Dissonance I don't normally pu [...]

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 [...]

Event Update For 2017-05-21http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-05-20http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-05-19http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-05-18http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

Event Update For 2017-05-17http://jumpingjackflashhypothesis.blogspot.com/2012/02/jumping-jack-flash-hypothesis-its-gas.html Th [...]

I left off last week's post – "Money Doesn't Grow on Trees, Industrial-Scale Renewabl [...]

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 [...]

Daily Doom Photo

man-watching-tv

Sustainability
  • Peak Surfer
  • SUN
  • Transition Voice

Atlantic Crossing"There are some black swans in aviation’s future that could tip its economic balance. The three [...]

Scool is In"Youth, with unpruned neurotransmitters performing at lightning speeds, overcome obstacles and [...]

Places to B"Landing men on the moon once seemed impossible, too. We did it with the help of computers less [...]

"As overwhelming as this may all seem, our situation will compel us to make the leap. If we fal [...]

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

 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

I stopped voting in spain. There's no point. Unstoppable corruption. We were forced into EU and [...]

Thanks Volvo740 (BTW always loved that car, my dad had a beautiful black 740 Turbo '89, exactly [...]

i keep looking at those pics--- Mc Enroe's famous comment at Wimbledon springs to mind "YO [...]

i thought everybody knew that its their way of casting a spell so that their womenfolk will find the [...]

https://pbs.twimg.com/media/DAcTh7dXoAAEafm.jpg [...]

Wall street wants to make money off of the Trump agenda, while the military industrial complex wants [...]

Why mince words. The word is COLLAPSE. [...]

I wish we could find a better word than degrowth! https://www.degrowth.de/de/?wysija-page=1&cont [...]

I'm still alive, but super busy-distracted. More info soon! [...]

I have heard that the quality of crude produced through "fracking" is pretty lousy. [...]

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

Accurate understanding and detecting of vegetation growth change is essential for providing suitable [...]

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 [...]

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