SAFE Coin's Establishment "Single Global Currency" Competitor: The "GMU" "New Bancor" NB

“A Global Economy Requires a Global Currency” Paul Volker

“One World Currency can cure the economic downfall.”

http://www.singleglobalcurrency.org/

http://www.usdebtclock.org/world-debt-clock.html

They used to meet at Bretton Woods

They have a dead line: 2024
If you think of austerity and the TPP and what is driving all of this seemingly irrational behavior it starts to fit together especially when considering the less advertised aspects of the power a global e currency and a GMU would create. It goes way way beyond a reserve currency and has some completely terrifying implications: Banker backed bitcoin as exclusive global currency

They have a Global Central Bank: The Global Resource Bank
The Global Resource Bank is a direct democratic institution owned by everyone. As a global central bank it issues a global ecocredit currency that values the production, distribution and recycling of her ecoproduct wealth http://www.singleglobalcurrency.org/related.html

They have a currency name "New Bancor" or Bancor
They used to think energy was the ideal currency and it may still have a fundamental link but now ti seems it will be a a big 9 Bank developed Bitcoin. http://www.reuters.com/article/2015/09/29/banks-blockchain-idUSL5N11Z2QE20150929

They have a book:
http://www.singleglobalcurrency.org/documents/2009EditionfullecopyTheSingleGlobalCurrency-CommonCentsfortheWorldfullcover.pdf

From its back cover:
“In a 3-G WORLD with a SINGLE GLOBAL CURRENCY managed by a GLOBAL CENTRAL BANK within a GLOBAL MONETARY UNION: • Annual transaction costs of $400 billion will be eliminated; • Worldwide asset values will increase by about $36 trillion; • Worldwide GDP will increase by about $9 trillion; • Global trade will increase; • Global currency imbalances—Balance of Payments—will be eliminated; • Currency crises will be prevented; • Currency speculation will be eliminated; • The need for foreign exchange reserves will be eliminated.”

From its contents:
3-G world (a Single Global Currency managed by a Global Central Bank in a Global Monetary Union)
Notice the firm name R3 kind of goes along with G-3 .

It will allow not competitors- its singular.
The single currency idea does not allow for other currencies or alternatives or even other equivalent forms like cash. It won’t allow for SAFE coin, its a dominator currency. Your alternative would be barter, but good luck. Centralization is what global banking is about and its their next step its totally obvious to them.

Stop scaring me Mr @Warren

Yes its spooky. I added on to the other link about them being able to turn off people’s money kind of like a card decline. That’s what they kept wanting in earlier decades and the tools they used to shut off terrorist money will now be used to enforce global tax regimes and keep people scared. When in doubt they just shut your money off like shutting off a utility and you go begging to them.

Oh so the last semi-decent Fed person is also a globalist shill? Wow.

Thanks to capitalism we have really good tools at our disposal compared to Volker’s time at the Fed. For example anyone with a Pi can run a mini “decentral” bank.

I thought Valker wasn’t such a fool, but I was wrong. How someone can be so stupid to think people will just accept to use their crapcoin, when they have precious metals as well as 650 (coinmarketcap.com) cryptocurrencies at their disposal, is hard to explain.

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Interesting subject you’re touching here, @janitor! So, how can precious metals be used as a world currency? Or did you mean that precious metals should back the world currency, which could (or should) be picked from coinmarketcap?

I mean precious metals could be bought and sold for cryptocurrencies (even on the unofficial market) so you can own crypto or physical metals and stay away from their crapcoin and there’s nothing they can do about it.

Precious metals may become accept as a world currency one day, but fiat currencies need to become even more worthless for countries to start asking for payment in precious metals for stuff they sell.

Precious metals could be used for international payments the traditional way, as in I give you a receipt for warehoused metal stored at a reputable warehouse in Swiss and you can redeem or use the receipt for your own payments. Or the modern way, use one of crypto tokens that represent grams and ounces that can be redeemed for physical the same way.

To be honest, exactly that I see happen in future. A world coin will be created, perhaps digital only, but large numbers everywhere around the globe will refuse to use it.

I have hard times making a picture of how precious metals could be of any use in a digital world, and as a tool of exchange between cryptos, I don’t know… There’s only 1 ounce of silver per 7 people on earth (if I’m not mistaken, and gold is 5 times more) that’s maybe too little for supporting such financial infrastructure? Maybe I’m wrong, but surely an interesting thought.

Funny that you mention this :slight_smile: . It touches 2 subjects ready to be further discussed.

  1. Decentralized cryptos backed by centralized storage of physical precious metals: it may sound like a contradiction in terminus, but in fact it’s merely ‘new meets old’ I think.

  2. Precious metals spot price determination happens at the Comex in the US currently. According recent reports about the Comex, they have a physical to paper ratio of 1:50 for silver and 1:250 for gold. Critics call that either a ponzi scheme or running a fractional reserve exchange, ready to collapse anytime soon.

Speaking of precious metals, the word’s first internationally accepted currency was the Spanish dollar, also called the Silver 8 Real, made by the Spanish at the end of the 16th century. The coin had a consistent weight and purity of silver which gave it’s value. It was even considered legal tender in the USA until 1857. The $ symbol is actually derived from the two pillars on the back of this Spanish coin, which represented the Straits of Gibraltor.

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It will fail here also. There is no way whatsoever to implement a global single currency and keeping the competition away at the same time. Will they chase Safecoin owners like heroin users? Good luck to that, and this whole idea has my middle finger beforehand.

On the one hand I get their logic. On the other it would be the most concentrated and potentially aweful power in all of history, it looks like pure evil in its implications.

If something like SAFE which inherently decentralizes power became the global norm and displaced all others due people choosing it well that seems fine. But this other stuff would need force and trickery. We could invite Bonapass to debate it. He seems to be the chief public advocate and he has said its inevitable and will be on schedule which might have been laughable until the top 30 banks lined up R3.

There’s also just 1 SAFE per close to 20 people… The both are divisible and can be revalued if demand grows.

The question could be poised in the form of the choice to work in the regulated vs. unofficial economy. In the regulated you get paid with crapcoin, in the unofficial with crypto (pure crypto or maybe for larger freelance jobs in precious metals-backed crypto).
Best of all is it used to be said everyone needs the dollar (or whatever official currency) to pay tax. Well there’s no tax to pay if you’re officially unemployed. And if they issue a government crypto currency why on earth would anyone use that for personal transactions knowing they’re tracking the shit out of it???

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Sounds like R3 Cev

R3’s distributed ledger initiative adds 13 additional bank members

Initiative to advance state-of-the-art technology in global financial markets now comprises 22 banks
September 29, 2015 (New York/San Francisco/London) – Financial innovation firm R3 today announced that an additional 13 of the world’s leading banks have joined its partnership to design and apply distributed ledger technologies to global financial markets.

The news comes two weeks after R3 and nine initial member banks publicly announced the formation of their distributed ledger initiative.

This addition, which takes the total number of banks collaborating on the project to 22, includes Bank of America, Bank of New York Mellon, Mitsubishi UFJ Financial Group, Citi, Commerzbank, Deutsche Bank, HSBC, Morgan Stanley, National Australia Bank, Royal Bank of Canada, SEB, Societe Generale and Toronto-Dominion Bank.

These institutions will join Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, Goldman Sachs, J.P. Morgan, Royal Bank of Scotland, State Street and UBS in developing commercial applications for this emerging technology in the global financial services industry.

The project will also seek to establish consistent standards and protocols for the technology in order to facilitate broader adoption and gain a network effect.

“The addition of this new group of banks demonstrates widespread support for innovative distributed ledger
solutions across the global financial services community, and we’re delighted to have them on board,” says David Rutter, CEO of R3. “We have placed an emphasis on working with the market from day one, and our partners recognise that a collaborative model is the best way to quickly, efficiently and cost-effectively deliver these new technologies to global financial markets.”

The group will collaborate on research, experimentation, design, and engineering to help advance state-of-the-art enterprise-scale shared ledger solutions to meet banking requirements for security, reliability, performance, scalability, and audit. R3 and its bank partners will establish joint working groups to lead these efforts, which will leverage the R3 team as well as experts within the partner banks.

The group will work within a collaborative lab environment or “sandbox” to test and validate distributed ledger prototypes and protocols.

“This is an exciting partnership, and we’re very pleased to be involved,” said Niall Cameron, Head of Markets, EMEA at HSBC. “Innovative, open-source developments like distributed ledger technology require expertise to deliver but have huge potential, offering banks and their clients the prospect of enhanced security, lower costs and improved error reduction.”

“Our clients deserve a banking experience that comes with enhanced security, low costs and minimal errors,” said Mr. Satoshi Murabayashi, CIO, in charge of digital innovation, at Mitsubishi UFJ Financial Group (MUFG). “In putting together this partnership, R3 is committing its own expertise and leveraging the combined resources of all of our partners to deliver a distributed ledger solution that could help our clients realize that experience. We’re excited to be a part of the team.”

The 22 bank partners represent a broad spectrum of companies – drawn from around the world – with expertise covering sales and trading, retail, payments, trade finance, corporate banking, wealth and asset management, and custody services.

As part of this initiative, they will make available their own internal resources to help design and develop a financial-grade distributed ledger solution incorporating various open source technologies and standards.

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Hey I was wondering where u went man I haven’t seen you on here for ages

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Gidday, been busy setting up a home studio…popped in due to the Master Exchange news…lucky to catch that.

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Definitely, I was wondering what will happen to everyone who doesn’t get that news…

Seems kind of sneaky of them to close down and take unaware ppl’s coins, if that’s how it is planned to go down.

Anyways congrats on your studio! Looking forward to an open SAFE net within a month or so!

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Telling about the newtwork effect.

30 day notice was sent to all customers.

Yeah but they did it through email and lots of people don’t check their email. people my age especially.

I don’t know a better alternative to use, but just saying. I wish everyone who used the exchange had control of their keys. Or the keys could have been included in the emails? IDK.

Do u think the exchange will have lots of free btc left over to keep on Nov 16th?

You can’t hold other people responsible beyond what’s reasonable in a business relationship (or any other relationship).

It is reasonable (but no one does it) to whitelist and set alerts for important domains such as those of your bank, exchange, etc.

The idea to send private keys is really, really bad. purse.io got hacked by hackers who hacked into their outsourced mail provider. In case of missing funds it would be impossible to tell if the exchange or the hackers or the customer took the coins.

They might end up with lots (50-200?) unclaimed BTC but they probably lost more in course of running the exchange. I don’t envy them.

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