Bitcoin & Cyprus Scheme: How Technocrats Manipulate All Digital Currency

http://occupycorporatism.com/bitcoin-cyprus-scheme-how-technocrats-manipulate-all-digital-currency/

Bitcoin & Cyprus Scheme: How Technocrats Manipulate All Digital Currency

Bitcoin-012312LSusanne Posel
Occupy Corporatism
March 20, 2013

Banks in Cyprus have declared a bank holiday for the early part of this week to prevent more customers from extracting funds from their private accounts.

Cypriot President Nicos Anastasiades recently stated that he has the “feeling . . . that the house is going to reject it because they feel and think it isn’t just and that it’s against the interest of Cyprus.”

The 5.8 billion euro bailout has prompted technocrats in conjunction with elected officials to raid customer private bank accounts.

The worth of the euro has taken a huge fall, being down 0.4% on the Stoxx Exchange 600 Index.
In response, the pressure is mounting in Cyprus to ignore the public outrage and continue to plunder the citizen’s bank accounts under the European Central Bank (ECB) Emergency Liquidity Assistance program (ELAP).

The ECB appears to be blackmailing the Cypriot government while out right confiscating depositor’s money under this “project”.

Earlier this year, the Bank of International Settlements (BIS) and the Basel Committee on Banking Supervisors (BCBS) applied the underlying pressure on US banks to liquidate to appease global markets. The American taxpayer is picking up the tab for this turn of events. BIS is giving these banks until 2019 to comply with their new rules. Capital to prop up the banks will be needed while they liquidate assets such as bonds, mortgages, loans and stock shares.

Consequences of the liquidation have been evidenced in governmental austerity and movement toward sovereign debt by the technocrats. Any asset assessed by BIS can and is being used as collateral of the banksters in an anything goes temperament while the squandering of wealth continues.

BIS has used the scheme of forcing capital from the banks to control the measures taken globally. International banking constraints mandated in these new rules are putting more control into the hands of “shadow banks” where supervision is unheard of.

Michel Barnier, commissioner of BIS, stated that the Basel Committee has “revised liquidity coverage ratio and the gradual approach for its phasing-in by clearly defined dates. This is significant progress which addresses issues already raised by the European Commission. We now need to make full use of the observation period, and learn from the reports that the European Banking Authority will prepare on the results of the observation period, before formally implementing in 2015 the liquidity coverage ratio under EU law in line with the Basel standards.”

Liquidity is seen by the technocrats as a necessity for “the stability of banks as well as for their role in supporting wider economic recovery.”

At a time when the introduction of a global currency to replace all fiat across the globe is at hand, it makes perfect sense that the technocrats are positioning themselves to control the central banks as offshoot branches of their operation. At the head of this monster, the BIS sets the tone and directs the banksters with limitations and orders.

The European Central Bank (ECB) is setting the stage of a complete financial collapse of fiat currencies across the globe. Joining in the scheme are other technocratic institutions such as the Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan and the Swiss National Bank.

Under the guise of preventing a system failure during the global financial crisis, there will be “an extension of the existing temporary US dollar liquidity swap arrangements until February, 1 2014.” This action allows the central bankers to liquidate currencies under their jurisdiction “should market conditions so warrant.” Under this plan, euros backed by nothing can continue to pour into the system throughout the Eurozone “in addition to the existing liquidity-providing operations” in the US. This liquidation will take place “until further notice.”

Alternative media is reporting that to salvage their funds, Europeans are beginning to invest in Bitcoin. Indeed, Bitcoins have been purchased and “downloaded” at a record high of $52 euros per Bitcoin in an attempt to keep customer cash safe from the plundering of technocrats.

Bitcoin has begun to thrive under the threats in Cyprus with an app for iPhones to make purchasing the digital currency easier.

Supporters of Bitcoin incorrectly claim that the scheme is not centralized as an alternate form of currency that would be of itself a protest to the technocrats.

However Bitcoin has been given that status of a “payment service provider” (PSP) by French financial institutions Aqoba and Crédit Mutuel. Officially, they are not a PSP because of the banks they are aligned with who are. This means Bitcoin is able to take advantage of their PSP status without having to be one themself.

Crédit Mutuel is the “main component of the Crédit Mutuel-CIC Group” which includes a federation of French financial institutions that have assets totaling over $581 billion. The federation’s holding corporation, the Banque Federative du Crédit Mutuel (BFCM) control French and foreign operational subsidiaries in Germany, Belgium, Spain and Portugal.

Crédit Mutuel is classified as a retail bank, yet it also services corporate investments, asset management, private banking and conducts international activities. They also are involved in:

• Finance leasing
• Real estate investment
• Property development
• Collection services
• Insurance policies

Bitcoin now has an International Bank ID number (IBAN) which allows transactions through PayPal and WorldPay and other digital payment networks; as well as issue debit cards, enabled to process monetary transfers to other banks and accept transfer of digital currency to their own “location”.

A Bitcoin account will be as viable as any other bank account with other established banks worldwide. Deposits will be subject to compensatory laws that are applicable when dealing with printed fiat in traditional accounts and balances in Bitcoin accounts can be exchanged for the fiat in that country (i.e. euros, US dollars, Yaun, etc. . . ).

The illusion is that this digital currency can allow any “two willing parties to transact directly with each other without the need for a trusted third party”; however while based on the collective control of computers, a “chain of digital signatures” and a “trusted central authority” to keep the monetary system from relying on printed fiat.

Virtual cash, the digital exchange offered by Bitcoin, is gaining ground as the possible future replacement for global currencies as a network of global computers.

The actuality of Bitcoin is that it is no different than any other type of e-currency and subject to manipulation by the technocrats. Should people transfer their fiat into Bitcoin thinking they can avert theft from banksters, they will soon realize that ALL digital currency plays into the central banking schemes to extract wealth from the people.

Posted on March 23, 2013, in Bailouts & Banks, Law & Government, Monetary system. Bookmark the permalink. Leave a comment.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: