Digital Nightmares

Bob Rinear, October 28 2020

The “great reset” is coming folks. Central Bank Digital money is coming. You have no say in it. Do you notice the one central theme here? Cashless society, digital currency, plus AI, and facial technology , social credit score… equals complete control! And that’s what the elites want. Absolute control and this satans digital currency gives it to them.

The world is going digital. It can’t be ignored, it can’t be avoided. It’s coming, whether you want it or not.  Via the use of newer blockchain technologies they have the ability to issue digital currency with a host of intriguing features, none of them make me warm and fuzzy.

Anyone that has been with me for any length of time knows that the current system is FUBAR. It can’t be fixed. The debts are impossible to pay. The levels of derivatives, too deep to even comprehend. It has to change and it’s going to.

But I’m sure not looking forward to it. Over the past year, everyone from the Bank of International Settlements, to the IMF, to many of the central banks, have all been talking about digital currency. To keep people a bit confused they change the language, they banter about “thinking about” it, versus doing it, etc. But make NO mistake, it’s already designed. They simply have to pick the right time to usher it in.

Here’s something Powell said last week: POWELL: FED EVALUATING BENEFITS OF A DIGITAL CURRENCY: BBG *POWELL: FED HAS NOT MADE A DECISION TO ISSUE A DIGITAL CURRENCY

Really?  No decision to do this thing, eh? Well I tend to think that’s another Powell lie. I want you to consider a few of the things I’m going to post below. This isn’t Bob writing this, this is from the Federal Reserve Bank of Cleveland.

 

Payments and the Pandemic

Loretta J. Mester
President and Chief Executive Officer
Federal Reserve Bank of Cleveland
Keynote Speech
20th Anniversary Chicago Payments Symposium
Federal Reserve Bank of Chicago
Chicago, IL
(via videoconference)
September 23, 2020

I know I do not need to tell this audience that the payments system is a crucial part of the infrastructure of the U.S. and a well-functioning and secure payments system is vital for a sound economy. As is true of pretty much every aspect of life this year, the pandemic has affected the payments business, including payment patterns and volumes. The most important thing to recognize is that the U.S. payments system has been weathering the pandemic without significant disruptions. This has taken the hard work of many people in both the public sector and the private sector. Many of these workers were deemed to be essential, and we owe them all our deep gratitude for their dedication and public service. Because of the vital role played by the payments system, priorities had to change to meet the challenges posed by the pandemic. At the same time, progress continued on important projects that have longer-run consequences for the payments system.

There will be many lessons to take away from the current pandemic situation; two seem particularly relevant to the payments work in which we are all engaged. First, although it is safe to say no one anticipated an event quite like ...

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Not This Time

Bob Rinear, October 24 2020

So what happens if Biden/Harris steal this thing? I don’t even want to contemplate it. Both have said they’re coming after our guns. Both have said they want the green new deal. Both have said they want no more fossil fuel vehicles. But the real bottom line is that they are going to push us into socialism.  Do any of you not believe that?  This is why I can say we’re never going back to “normal” because it has not been normal for the US to be a socialist nation.

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Elections, China, Bitcoin and More!

Bob Rinear, October 21 2020

No matter who ends up being declared the winner when this nightmare is over, there will still be millions upon millions of very angry voters out there that are likely to feel as though the election was stolen from them, and that is a recipe for widespread social unrest, and that’s an ideal situation for the Chinese,  who could use the chaos and confusion generated here in America by the elections, to invade Taiwan before the U.S. can react.

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New Study Says America's True Jobless Rate is 26%, Not 8% - Another Symptom of Growing Inequality

Guest Writer, October 17 2020

To this day, to be officially counted as unemployed, you need to be earning no money at all, and you need to be actively looking for work.

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What’s left to say?

Bob Rinear, October 14 2020

Markets do indeed move based on political reasons as well as fundamentals, and what have you.

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Regulators Cracking Down On Banks Dubious Estimates of Risky Assets

Guest Writer, October 10 2020

And, now, 12 years after the Great Recession, one can reasonably argue that depositors and investors shouldn't have to doubt whether they can trust the way banks measure their financial strength. 

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Me? Really???

Bob Rinear, October 7 2020

There’s a new crypto that’s been in development for a couple years now... They are giving out 3,600 coins to everyone that signs up. Free coins. All you need is an email address.  

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Trump and Covid

Bob Rinear, October 3 2020

There’s a lot at stake in this upcoming election, and one of the things at stake is the market and YOUR money.

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Learning from Fidel

Guest Writer, September 30 2020

Whilst we can imagine that the theatrical events may possibly have taken weeks of preparation, Cubans saw only the results – overnight emplacement of artillery.

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Can Big Bank Money Laundering Be Stopped? And, If So, How?

Guest Writer, September 26 2020

He warned the two U.S. officials of a "contagion" - with the implication being close one bank and the whole economy could suffer. What happened? Federal prosecutors stood down.

 

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Trading the Election

Bob Rinear, September 16 2020

We could see huge draw downs, and equally huge explosions to the upside. Unless you’re a very nimble trader, sitting it out could be your best play. Just sayin…

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Periods

Bob Rinear, September 12 2020

I don’t know if it’s the chemicals from the contrails, or the fluoride in our water, or what, but there’s a level of bizarre raging across our nation the likes of I could never have dreamed.

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New York City’s Spending Problem

Guest Writer, September 9 2020

Indeed, the burden of government spending has climbed more than three times faster than inflation during De Blasio’s time in office. If this story sounds familiar, that’s because excessive spending is the cause of every fiscal crisis.

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Fed Changing Policy on Inflation and Unemployment

Guest Writer, August 29 2020

...monetary policy still operates under the existing assumption that such a tradeoff - i.e., a strong labor market and stable prices - actually exists.

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Stock Splits

Bob Rinear, August 26 2020

...immediately post split, stocks can become volatile, or just trade sideways for a bit, or actually take a hit, or soar higher.

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