3 Minute Gold News
getting from here to there – gold
BIS is launching a new pilot: Rialto
They speak like some entrepreneurs do. They talk up an idea as if it’s already a done deal, but haven’t finished research on viability, before declaring a certain victory that you should support (for the good of us all!).
Both need support (money) to research if it’s even doable, but talk like it’s already done, and as if it’s all just details now. Any day! Any moment!
The BIS needs buy in, or else the private companies, commercial banks, and other parties will advance using new tech, and the current central banking financial system will lose rule over the global financial system.
Last January, there was a BIS speech saying you better support what the BIS is doing because if someone else (hinted at China) gets in charge then you really won’t like it.
They don’t mention that the world is not a dialectic – there are more options than two opposing views.
Too much debt. Smart people w/ legacy benefits & faulty models.
How can they default and reset without losing power?
They, the BIS and entrepreneurs, both need buy in for their ideas (for their benefit) or it won’t happen. It’s just an idea at this point.
The BIS published a speech yesterday about how their sharp, high interest rates brought down inflation:
Carstens: “Inflation declined with little collateral damage to growth, employment or financial stability. In no small measure, this was possible because central banks could draw on their hard-earned credibility…
They were surprised post-pandemic by the higher demand and supply chain issues, so persuaded most nations to raise interest rates hard all-at-once around the globe.
It really hurt those with less. Singapore gave to those at the bottom of the economic scale to help because it wasn’t their fault. Europe’s Lagarde just stated that it would be hardest on those with the least, but shrugged her shoulders. Too bad. So much damage.
The high, sudden rates slowed the demand, which means “you can’t afford to borrow to buy stuff, so now there’s enough supply”.
Problem solved.
Job well done.
Do you feel little damage to your situation? How about those food prices? Housing? Energy? Travel?
An old speech by Carstens says the BIS was mistaken to believe they could stop the world economy mid-air for the pandemic, lock everyone and everything up, and then start it again on a dime.
Now they just say it was a surprise. No one could have seen it coming!
How can they save the world (for a fee) if they can’t see what’s happening?
They want control of both supply and demand now?
After the pandemic, emerging markets weren’t willing to pay their people pennies for the benefit of others. Globalism didn’t look like such a great idea – give up your sovereignty for the good of others on the planet. Carstens was surprised at that. He needs the cheaper labour to grease the wheels of globalism.
The entrepreneur has is an idea, might be a great idea, but some of them say “We will…xyz… and change the world for everyone’s benefit”. Yet they haven’t finished basic research for viability and fit for purpose. They want support to fund their early research, while inferring it’s ready to go and you’re funding beta and roll out. Then your money is tied up as they find all the problems early research would have found, and how it might not be fit for purpose at all. All while rah, rah, rahing your brilliance for getting onboard early. While living on your money.
BIS seems to be doing this. They’ve talked cross-border payments and CBDCs, Bitcoin, crypto etc. and how they want/need/will be in control of all data etc. for the good of all.
They’ve done pilots for many years, with plans and research, but they speak to the public as though it is inevitable. The last spike. And it’s not.
They see the cycles. They are beginning to see where they missed it with their models.
Now they see a solution to their problem as price stability via central absolute control over both supply & demand. The removal of national sovereignty is all they need to make it work
They have control over demand by jacking up the interest rates, but they don’t have control over supply.
So they want to sneak in a retail CBDC, central bank created money, whereby they control its supply, how it’s spent, when and where it goes, how the citizen uses it. Central control over the individual inside a sovereign nation.
A few years ago Carstens openly said the BIS will have an account/wallet (all data & supply control) with every human. The room gasped – they didn’t want THEIR all their data and money controlled and not private. The BIS laughed, scoffed, that it wasn’t the holder’s money; the CBDC was a gift the BIS gets to control.
The BIS walked that back and it hasn’t been said since.
Now they say they just want settlement data, and walled gardens (private company data like Apple Pay, Google, commercial banks) will be private. The BIS needs the citizen to believe that they alone, the citizen, will have ultimate control over who sees what data, all while being centrally controlled, and each citizen having a wallet with all their ID/financials etc. attached to the BIS.
Yet Ai is roaring up and no one knows how it will disrupt. Cyber vulnerability is guarded, so it’s not open who knows what or can do what.
Will Quantum computing and General Purpose Ai outpace specific Ai for financials? No one knows yet.
So how will they persuade you to trust them to control everything in your ID/money/travel/digitalownershipcertificates.
It’s a race for monopoly or oligopoly.
The cloud is mostly an oligopoly according to a BIS speech yesterday. BIS is urging its central banks to move quickly to be part of forming an Ai General Purpose model, as in a speech released this week.
Funny, the speech ends with the BIS hinting they want to be part of the oligopoly that matures and controls General Purpose Ai.
No doubt.
Who has the golden key?
I read about it in a speech a few years ago and it hasn’t been mentioned since. It would be perhaps naive to believe things were created without back doors, and back doors to back doors. And a golden key to open them all.
Here’s a quote from the new Rialto pilot project:
“Decentralised solutions, CBDC and interlinked payment infrastructures are considered promising avenues to improve cross-border payments. How they interact has not yet been explored and could yield answers that advance cross-border payments globally.” (Bold is mine).
So, it’s not going to happen tomorrow.
They are in early days of exploring CBDCs both wholesale and retail. It’s not a done deal with the details being hammered out. It’s early days.
Ai is disrupting, geopolitical fragmenting is picking up speed, debt is not payable.
A rock and a hard place.
All while they say to the press it looks like a soft landing. whew. And “…little collateral damage to growth, employment or financial stability.”
So if they think it’s little damage up to now…?
Individuals owning some of their own physical money, gold, will become more popular going forward.
Digital is great convenience and opportunity, but anything can possibly be hacked by a bad actor. And the reset is like changing all four tires while going down a mountain at top speed.
Gold rises when trust in government falls.
Gold is slow on purpose, but sometimes slow is just right.
Like when everything else is falling over the mountain side.
Elaine~
ref:
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Thank you to Jim Rickards for including me in his bestselling book The New Case for Gold.
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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.
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Communication Theory….
As the alphabet took the magic of words and divided them into tiny repeatable units, strung along and carried in written form, then reformed into words and meaning in the quiet of one’s own mind, so currency separates commodities and items of value into concise repeatable units.
The currency is packaged, shipped, identical, and is value as exchange for meaning of value to the receiver.
The oral societies are not led by the alphabet; they are led by the voice and ear. So each item is different, unique, and exchange is bartered over for each unit. These countries will not easily move to digital wallets and identical purchases. The unbanked are sometimes unbanked by choice.
Those in power talk about taking care of the ‘unbanked’. But the care is misplaced. A new bank account will earn the banker fees, and the expansion of the currency supply is not a desire of the central banking system, it is it’s lifeblood.
To keep their central bank system going they must have ever expanding borrowing and debt.
Their system has failed because it has to fail.
Sooner or later you run out of people to lend to, so they’ve created a ‘green’ issue to make new reasons to create more debt.
The business cycle cannot be stopped; it rises and falls as every closed system does. They know this, and so those in power are rushing to cement control with new technology before the first out of the gate with new products beat them to market share. The rush is to try to regulate to keep the status quo.
But it’s impossible.
My biggest concerns at the moment come from Understanding Media, written by Marshall McLuhan. He writes of Nobel prize winning author Alias Canneti’s book, Crowds and Power, talking about the psychic effects of the Germany hyperinflation after the First World War.
The depreciation of the citizen went along with that of the German Mark.
There was a loss of face and of worth, in which the personal and the monetary units became confused.
When everything is mechanical, it includes thoughts, money and humans.
I hope that confusion doesn’t return.
Elaine~
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Thank you to Mike Maloney for including me in Episode 1 of his bestselling series Hidden Secrets of Money.
Coins and Crowns
words and music Elaine Diane Taylor
SOCAN/ASCAP
from the album Coins and Crowns
Coins and Crowns is featured in Episode 1 of Mike Maloney’s bestselling series Hidden Secrets of Money.
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Not Much of a Holiday (Bank Holidays and Media Persuasion)
words and music Elaine Diane Taylor
Single available on iTunes
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A Terrible Breeze (War and Social Media)
The news comes down
A little bluebird sings
Words of war
Fire and furious things
Of testing might
‘Til no patience knows
If keeping still
Still keeps you safe at home
It’s a terrible breeze
They speak of today
Of threats that used to live a world away
We all know wind
Can blow both ways
And a terrible breeze can blow it all away
A worldwide net
Sees our village grow
Until we all forget
What each one used to know
How a blind bird’s wings
Can reach the shore
And turn the wheel of peace and war
Village fools sinking down, down, down
Debt and gold wound in numbered shrouds
Deal of a life it’s bread and clowns
Can we afford another go around?
The news comes down.
It’s a terrible breeze. The news comes down.
words and music Elaine Diane Taylor
Single available on iTunes
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Preparing for the Fall is a live boutique album available for digital download — featuring Wag the Dog, Black Swan Dive, American Pie and Gods of the Copybook Headings. Also available on iTunes, Google Music, Amazon Music and major digital distributors.
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The Gods of the Copybook Headings
words by Rudyard Kipling and music by Elaine Diane Taylor
from the album Preparing for the Fall.
The copybooks of the early 1900s gave us all the wisdom we need. The sayings that were copied are the truths, the gods of our world. All the empires who followed the gods of the marketplace have fallen, and there’s terror and slaughter when the gods of the copybook headings return. The lyrics are by Rudyard Kipling. One of my gurus.
Another Week on Wall Street
words and music Elaine Diane Taylor
from the album Coins and Crowns.
“A little grease (Greece) is floating out to sea, and little pigs (Portugal, Italy, Greece and Spain) are bobbing up and down, they’ll send a storm and we’ll see, when the tide goes out who’s naked on the beach“. The world is changing as we know it.
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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.
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Elaine Diane Taylor 