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Arcadia Economics put out a video yesterday where Chris interviewed Tom Coughlin of Kinesis Money.

i am big on Kinesis as some will know. Asset backed crypto is the future - not Western CBDC's. The Kinesis gold / silver crypto system is just starting to roll out in Indonesia. Tom said that they will be announcing a Latin American country which is going to adopt Kinesis coins as a legal tender. We expect this will be Panama but we don't know for sure. He also said that a couple of US sites had reached out about using Kinesis - i presume as a parallel system to the dollar. We see the asset backed currency BRICS must be in an advance state of preparation being mentioned. The world is providing its own solutions. The Western financial system is rapidly getting left behind and they have no real idea what to do let alone how to do it. They are scrambling around clueless. Keep stacking and sign up for Kinesis.money.

Edited by sixgun

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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9 hours ago, Stu said:

Was listening to a podcast yesterday. Guys  take is all the central banks are currently insolvent and that a reset will come overnight after they close all world banks. In comes CBDC . The small man will be able to exchange all currency he has 1 for 1 and will probably get a few grand sweetener on top. Any debt (mortgage) you hold will rapidly become worthless as no one will want the old currency. There would be no point swapping all old for new as they would be back to square one again. Some concessions would be made to avoid rioting in the streets.  Banks and national debts would  effectively be written off. I am not saying I totally agree with this view. banks usually want their pound of flesh and screw the man in the street. However can they have their cake and eat it?. Perhaps they will enforce a partial claim on personal debt, say 25% and write of their own and nations debts only. The next couple of years are going to pivotal in how this unpacks. I believe the plans are already in place for a reset, it’s the crucial detail and timings that we don’t fully know. 
I suppose the point I am trying to make is it’s not clear cut and very few people know for sure the exact detail. Getting rid of debt is sound advice   In almost all circumstances however this could be one occasion where holding debt would be of benefit.

The banks wont write off debt.  Mortgaged property is in reality owned by the banks. If the mortgage debt can't be paid they will simply repossess the mortgaged property and the "owner" will be booted out by the bailiffs.   Banks are also protected as mentioned above by @sixgun by bail-in legislation.   We've already seen it happen in the UK in 2007/2008/2009 with Northern Rock, Bank of Scotland etc, and in Cyprus in 2013.  Governments can't afford to allow banks to fail and they have all of their safety nets and nasty little plans in place to keep things going in their favour, but they couldn't give a toss about you, me, or any other joe bloggs out there, and would happily see us all beggared and destitute if it served their purposes.

Edited by flyingveepixie
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