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Scan a ‘paper’ dollar into your computer screen! What is it?

February 15, 2013

A ‘virtual’ dollar (also called a digital $) is equivalent to a scanned $. Why?

When I scan a paper dollar with the image of George Washington on the front, I get an image of the exact paper dollar in my computer screen. Question: Is the ‘image’ in my computer screen physical or imaginary (click link)?

Let’s think about the nature of our currency units today. Some 96% of the units traded and exchanged on the global markets are digits within our computer screens. These
digits can be compared to scanning a ‘paper’ dollar into one’s computer screen and then looking at the image which appears in the screen. The ‘image’ in one’s computer screen is a virtual image whereas the paper dollar (prior to scanning) is a real physical thing. Today, our currency units have become virtual images (call them digits or numbers) which appear within our computer screen.

Our currency units are now created in a manner which is similar to ‘scanning’ a paper unit into the computer screen. Ben Bernanke’s QE operations reveal that he now creates billions and trillions of computer images (digits) by merely pressing buttons that increase his checking account at the Fed. He then uses these new digits or numbers (still called dollars) to purchase assets from other Dealer Banks within his banking network. Currently Ben has a program in motion where he and his managers at the Fed create some $85 billion of new digits for his checking account every month. His (the Federal Reserve’s Account) is also called the System Open Market Account. Let’s think about the new virtual (‘scanned’) units that now are used as our money units for some 96% of all money transactions.

All of my IRA savings are now stored within my computer screen (within the internet cloud). All of my on-line checking and savings units (dollars/digits) are now stored within the computer screen (within the internet cloud). Some 96% of my purchases are now via credit and debit cards. This means that when I swipe my card at the retail establishment, bits and bytes from the electronic swipe become digits or dollars within additional computer screens of our banking system. What we have for money today are bits and bytes, becoming digits or numbers, which are transferred from computer screen to computer screen (at near the speed of light). Who understands what this network of computers is creating for our monetary and economic system down the road?

Those of us who understand the history of money and value recognize that virtual images or digits in the computer screen have no tangible existence within space/time. We understand that all these photon images are virtual images and that a few Central Bankers control the entire network of computers that produce these images or digits. We also recognize that these virtual (imaginary) images have no ‘value’ in and of themselves. This means that ‘prices’ which are expressed in these virtual digits (still called dollar prices) are virtual prices that have no physical existence or permanence. Many of us are also aware that just a few elite Central bankers control, monitor, and manipulate the virtual system in real-time. We have noticed since the financial crash of 2008, that mostly one Central Banker (by the name of Bernard Shalom Bernanke) has been the biggest manipulator of the system via his QE operations (creating $trillions of imaginary money for his banking friends). All this is done with NO real-time oversight by our elected Congress or our President.

Many of us also are aware that additional Central Bankers are now following the lead of Ben into this same virtual reality operation. Mervyn King of Great Britain and Mario Draghi of the European Union have also created policies where new virtual pounds and euros are created via this same QE operation as that initiated by Ben Bernanke of the U.S. Federal Reserve System. Virtual digits are created ‘out of the consciousness’ of these policymakers to further the manipulation of our global markets. We now recognize that all this QE manipulation leads to price distortions, up/down volatility, and a withdrawal of confidence within the trading community. Why do so few seem to recognize this change or transformation which has occurred in recent years?

When I teach about these changes to the common man on the street, these people tend to grasp these concepts readily. Yet the sophisticated financial pundits who provide advice and counsel to millions seem mostly confused and unaware that these changes are now present and real for most global markets. We now have mostly virtual currencies globally and money creation by select policymakers (out of nothing) who then manipulate the markets (interest rates, prices, and values) daily and persistently. There is a growing group of financial discerners who are now becoming aware of all this gimmickry and manipulation. Many now recognize that this non-system which we watch daily via our personal TV’s and Computer screens is fragile and unsustainable.

What we need to understand is the VIRTUAL units (still called dollars) within our computer screen accounts are similar to the images that we scan into the computer screen from a real paper dollar. These scanned images are photon images which (in reality) are imaginary and have no value or substance. These virtual units have no store of value for the longer term and when the markets finally do crash, these units will disappear into ‘money heaven’. Some final questions for our elite policymakers who create these virtual units ‘out of nothing’?

1. If our money today can be created ‘out of nothing’ by pressing buttons on a computer desk, why not create units to cover all taxes (now collected from the hard-working American public)? Why pay taxes to the government when our government receives their money units for ‘free’ from the Fed (via monetization or QE)?

2. Since our money units are ‘nothing’ and derive from the ‘consciousness’ of select Central Bankers, why not make a direct computer transfer of money units (say $1 trillion) to every American who has a computer or on-line checking account? Let each American voter into the game of ‘money from heaven’! After all, don’t the voters ultimately own our monetary system?

3. From a legal point of view, what is a ‘dollar’ today? Is a virtual dollar (created from consciousness and displayed as a digit in the computer screen) actually ‘legal tender’? What is the definition of ‘legal tender’ on the books of the American legal system? Isn’t ‘legal tender’ suppose to be a real ‘paper’ dollar?

Give this missive some thought and evaluation when you have time. Enjoy! I am:

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