There’s a new technology in town, and it might just be saying… “Move over Bitcoin!”
This new software based value transfer system, is called “Hedera Hashgraph” and it’s been making tidal waves in crypto circles.
It claims to be able to do everything that blockchain technologies like Bitcoin and Ethereum can do, but much, much faster, and better.
According to its white paper [Download it], it can process over 250,000 transactions per second (tps).
That’s better even than what VISA can do, by about 5x. About 12,500x what Ethereum can do, and an unbelievable 30,000x what Bitcoin can do.
It will allow smart contracts, just as Ethereum does, and is built using Ethereum’s Solidity programming language.
It will do away with miners, because it uses a “Proof-of-stake” mechanism, rather than “Proof-of-work” like Bitcoin, and it is this proof-of-work mechanism that is causing Bitcoin to use so much time, and energy.
You can’t buy into its initial coin offering (ICO). It doesn’t need the money – we’ll get into why that is in a second. But it will soon be available on exchanges and released for developers to build on.
It sounds like the ideal crypto, doesn’t it? Smart contracts, super-fast and super-scalable (it also claims to be super-secure).
But is it… Really?
What is Hedera Hashgraph?
I first learned of Hashgraph, some months ago, so, today we’re going to take a “deep look” into Hedera Hashgraph, and find out if it is a friend or a foe.
According to one prognostication, “Bitcoin will go to $40,000 this year. . .” – Simon Black – May 07, 2018 at the Daily Bell
But, Hedera Hashgraph, may have other ideas…
Firstly, what is it exactly?
Hedera Hashgraph is a Distributed Ledger Technology (DLT) based on a Directed Acyclic Graph (DAG) – WHAT!?*
All cryptos are DLTs, but none are DAGs. (except Hashgraphs)
So, although it’s called a “Hashgraph” it’s basically just another DAG with a different algorithm.
The hashgraph is a patented data structure developed by Professor Leemon Baird. The hashgraph stores and updates information in accordance with a unique algorithm which allows a distributed and decentralised community to reach consensus between nodes/members in a fast (250,000 transactions per second) and secure (Strong Form Byzantine Fault Tolerant) way with mathematically proven fairness in the absolute ordering of transactions.
The data structure is a directed acyclic graph, where each vertex contains the hash of its two parent vertices. A hashgraph is updated by gossip where each member repeatedly chooses another member at random who gives them all the events that they don’t yet know.
The hashgraph utilizes an entirely new protocol called “gossip about gossip” for information sharing. This means that part of the information transferred between members is an abbreviated history of how members have spoken to other members. This is similar to how friends may “gossip about what Bob did.”
So the first thing that should jump out at you is that Hashgraph is patented. In the world of crypto that is a huge red flag.
Its creators claim that this is to stop Hashgraph from forking, like Bitcoin. If anyone tried to change the code for a better one and fork it, Hashgraph – or the company that owns it, Swirlds – would sue them.
So basically, if you’re using Hashgraph, you will behave as Swirlds wants you to behave. The fact that it is patented also means it is not open source. This goes against what almost every other crypto out there stands for. It means people can’t check or improve the code. Even IBM’s Hyperledger is open source. I can’t think of a single crypto that isn’t.
That stops the Wild West atmosphere that has pervaded the Crypto world since 09, but means that they dictate the world going forward, and THAT is a problem. Any corporation with that much control eventually does not serve the users interests, but its shareholders, and executives.
The second thing you might notice is the DAG structure works in the same way as IOTA. In IOTA, in order to process your transaction you must verify two others.
Hedera Hashgraph is a for-profit foundation
Another thing you realise, once you study the white paper, is that unlike many cryptos, which form non-profit foundations, Hedera Hashgraph has formed a for-profit foundation.
From the white paper
Hedera Hashgraph Council is a for-profit LLC that will be governed by up to 39 renowned enterprises* and organizations, across multiple industries and geographies.
And yet it wants to be “the new internet”. If the internet had been created as a for-profit foundation and built on closed-source software, the world would be a very different place now. A much less collaborative and much less technologically advanced place.
Most cryptos see this and pride themselves on building open-source platforms and protocols. But not Hedera Hashgraph. Hedera Hashgraph is all about its own profit.
You must pay fees to use Hedera Hashgraph.
One of the main benefits DAG cryptos provide is they can be fee-free. Two of the biggest DAG cryptos at the moment, IOTA and NANO, process transactions for free.
The fee-free model is perhaps one of the most important breakthroughs in crypto.
For a pure payment coin like NANO, what you send to someone is exactly what they get. If you send 0.005p worth of NANO to a shop or a friend they will receive exactly that.
And for a machine-to-machine crypto like IOTA this is also massive. It means machines can make millions of micro transactions to each other without paying fees on these many, many micro transactions.
Hedera Hashgraph will not be free to use. You have to pay fees to send transactions and to store files on it.
And what’s more, the Hedera Hashgraph Council (HHC) will also get periodic dividend payments from network users. (JUST like a REAL Central Bank)
Again, this just has one brief mention in the white paper:
DIVIDEND PAYMENT – Periodically, Hedera may make payments to the Governing Members to reward them for their role in governance. The fees that are collected by Hedera are divided between incentive payments and dividend payments, as determined by Hedera.
I guess that brings us to the question of who the HHC is. After all, it will be the one with the power to hard-fork Hedera Hashgraph at will and change its protocols.
Hedera Hashgraph is ruled by corporations
There are 39 corporations who make up the HHC. The HHC says what happens to the Hedera Hashgraph protocol and users must oblige.
From the white paper:
“Hedera Hashgraph Council is a for-profit LLC that will be governed by up to 39 renowned enterprises and organizations, across multiple industries and geographies. Its vision is a cyberspace that is trusted, secure, and without the need for central servers. Its licensing and governance model protects the community by eliminating the risk of splitting, guaranteeing the integrity of the codebase, and providing open access to the protected core. Under the governance model, all Governing Members will have equal governing rights and each Governing Member (with the exception of Swirlds) is expected to serve a limited term, ensuring that no single Governing Member or group of Governing Members has centralized control. “
I could explain why this is a huge red flag. But why not let someone else do it…
Hedera Hashgraph Council plays the role of rule-maker, indirectly sets the rules, fees, and approve new software updates via Governing Board which is elected by HH Council, and the community just plays the role of rule-enforcer, running nodes to verify transactions and apply only the rules of the software written and approved by the Governing Board.
This worries me, because in my opinion, it is the complete opposite of the typical politic model we often see: the people, the masses, the community – the DEMOS, plays the role of rule-maker (via electing a parliament etc…), and the government only plays the role of rule-enforcer.
From the Whitepaper:
GOVERNANCE – A general-purpose public ledger should be governed by representatives from a broad range of market sectors, each with world-class expertise in their respective industries, and also selected to provide global geographic representation for all markets. Those that are governing need technical expertise so they can competently manage the technical roadmap. They need business expertise so they can manage business operations of the organization. They need expertise in economics and currency markets so they can manage the cryptocurrency. They need legal expertise to help navigate the evolving regulatory environment. In other words, governance should be by those globally recognized as world leaders in their respective industries, and representative of every market in the world.
So, how should we be sure this HH Council will not become corrupted or make the decisions that optimize the benefit for themselves but not the mass? Especially according to the whitepaper, Hedera Hashgraph Council is a for-profit LLC!
It’s not necessarily to be something hugely and clearly evil to be concerned about, the Council is obviously not incentivized to sabotage the network. But it could be some decision that just slightly lean toward the Council’s benefit instead of the whole, small changes over time, steer the development to a path that optimize the benefit for them. (Rather like a Central Bank)
Say, if some day Hedera Hashgraph is mass adopted around the world, many crucial global applications run on Hedera platform, then the HH Council (especially Swirlds) would become an organization with supreme power. Even if the Council becomes corrupted, people would have no way to change it because we have no right to vote, because the HH Council is a closed group which could make the decisions that benefit themselves best, then elect the new Council members who have the same minds, then the new Council repeats,… This is the endless loop and the degree of corruption might rise over time this way.
I think the idea that Hedera Hashgraph is designed to run in the opposite way to democracy is a very important point. Especially as most crypto is about the democratisation of technology. This is exactly the opposite of Hedera Hashgraph’s approach.
The idea of the HHC also brings up another major red flag.
HHC owns 60% of the supply. Given that Hedera Hashgraph runs on fees, we can ask how those fees be distributed.
Hedera Hashgraph will run a proof-of-stake protocol (POS). This means people who own it can “stake” what they own to secure the network and in turn get rewarded in fees.
So, given that HHC owns 60% of the supply, it will collect 60% of the fees for itself. That’s on top of its unspecified dividend payments. Oh, and because it has total control of updates and upgrades to how Hedera Hashgraph works, it could allocate itself even more at any time. And all users would have to go along with it.
Ripple gets derided for its centralisation – But even Ripple pales in comparison to the centralisation of Hedera Hashgraph.
And the more you dig into it the murkier it gets.
Hedera Hashgraph was created by two ex-military men. The co-founders of Hedera Hashgraph are ex US Air Force.
This brings up all kinds of questions about government collusion and makes the patenting and secrecy behind Hedera Hashgraph’s code all the more significant.
Just what is in there that it doesn’t want people to know about?
I’m sure some people would even go so far as to say that given it’s private code, created and patented by military men, it could have backdoors built in. Of course, I wouldn’t suggest that.
Still. Knowing all of the above, does Hedera Hashgraph really seem like the crypto we want “the new internet” built on?
In conclusion: Don’t believe the hype
I went into this completely neutral about Hedera Hashgraph, but I have come out of it fiercely convinced it is not a good crypto.
It is incredibly centralised. It uses fees. It is closed source. Its corporate leaders can change its code and rules at will. And it could even lead to patent wars in crypto – something most cryptos have worked hard to avoid.
Personally, I won’t be investing in Hedera Hashgraph. (and whilst I am not a Financial Adviser, If, I were, I’d be telling you to give a wide berth also.)
That’s not to say that it won’t do well. It has a lot of money and power behind it, and it makes some very big claims. Most people will not look into it this deeply, and even if they do they may not see these red flags in the same way I do. Some people may even see its centralisation and structure as a benefit. I do not.
Once it gets its full release it will be very interesting to see how the crypto community and the wider media respond.
How do you feel about Hedera Hashgraph?
Am I wrong, is this the future of crypto? Or is it yet another way to control the masses, using a coin with big claims that is fundamentally anti-democratic?
Let me know@ WA1Marketing@aol.com – With the Subject line – HEDERA HASHGRAPH.
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The Demise of the Dollar, has been a long time coming.
Its demise was predicted in 1988, as we see in this Economist front page article, that featured the demise of several major currencies, and showed a picture of a Phoenix rising from the ashes, with a new Golden currency hung around its neck. Was this a prediction because the Economist, a Rothschild owned corporation had plans in place to do just that?
The rise of Asia, and in particular China, with its 1.4 billion people, India, with 1.2 billion, Indonesia with 125 million, Japan with a 100+ million more, and all the others – the Asian Tigers: Taiwan, South Korea, Malaysia, Vietnam, Philippines, Singapore, and Hong Kong have all realised that trading with their former communist giant, and now slowly like an unfolded Venus Fly Trap, are being tempted into Chinese jaws.
According to several figures, there have been a number of attacks on the Dollar, as its replacement is clandestinely being planned.
Crypto-currencies have eaten away at transactions in all fiat-currencies, but perhaps Bitcoin has been the biggest of those contenders; though Ethereum, Monero, Dash, Litecoin Electroneum and dozens of others have entered the fray. BUt the biggest attacks have come from other nations…
…in all THERE HAS BEEN 1 TRILLION IN ATTACKS ON THE U.S. DOLLAR
The U.K. ($18.7 Billion attack): Joined China’s Foreign Exchange Trade System to bypass the U.S. Dollar and trade directly in Sterling and Yuan and trade Yuan denominated bonds. China ($100 Billion): The Chinese official sector sold almost $100 billion of U.S. stocks over the past year. They’ve been reducing their Treasury holdings. And they’ve secretly been stockpiling hundreds of tonnes of high-purity gold bullion bars.
Iran ($1.2 Billion): Has used gold after being sanctioned by the U.S. and ejected from the Dollar-based payments system called SWIFT.(Society of Worldwide Interbank Financial Transfers)
South Africa ($2.5 Billion): Has joined with the BRICS nations to create a bank that will extend at least $2.5 billion in non-Dollar credit to the world. India ($8.2 Billion): Has made agreements with Japan to receive Yen for internal development projects, instead of turning to U.S. development institutions like the World Bank for Dollars or going to the U.S. government itself.
Japan ($69 Billion): Has agreed to circumvent the Dollar and trade directly with China in billions worth of Yuan and Yen . One news outlet says the move aims to “hedge the risk of the Dollar’s fall in the long run as the world’s key settlement currency.”
Switzerland ($24.17 Billion): Agreed to help China develop its offshore Yuan market so more countries can diversify away from Dollars into Yuan.
According to Bloomberg, the Swiss Franc is “the seventh major currency that can bypass a conversion into the U.S. Dollar and be directly exchanged for Yuan.”
Sweden, Norway and Denmark ($2.5 Billion): Created a Euro currency-beeline to Iceland that doesn’t require Dollars.
South Korea ($20 Billion attack): Has created bilateral currency swap agreements with Australia, China, Malaysia and Indonesia that last until 2020. They’ve renewed a multibillion Won -Yen currency swap with Japan. And they’re also actively trying to forge a direct currency swap deal with the United Arab Emirates.
Russia ($7.8 Billion): Is actively recruiting nations to trade oil in Roubles instead of Dollars and having its largest state-owned oil company- Gazprom – issue its corporate debt in Asian currencies instead of Dollars. Bloomberg says its “aim is to move away from quoting petroleum in U.S. Dollars.”
United Arab Emirates ($55 Billion): Created a bilateral trade deal with China to trade in Dirhams and Yuan. One expert said the Chinese are “trying to shoot for an alternative currency to the Dollar.” – all while investing heavily into Gold…
Saudi Arabia (up to $750 Billion): is threatening to take as much as a $750 billion support out from under the Dollar in spite of the agreement made back in 1974 between Saudi King Faisal, and the U.S. Secretary of State, Henry Kissinger to only sell oil in Dollars, if America doesn’t meet its demands.
The International Monetary Fund’s attack: Added the Chinese Yuan to its supra-national currency, the Special Drawing Right. One millionaire commodity investor remarked upon the news, saying, “The U.S. Dollar is a very flawed currency… [the Yuan] will probably challenge the U.S. Dollar.”
And the World Bank too, is also challenging Dollar hegemony, as Karen Hudes, the former legal counsel to the World Bank was fired for whistle-blowing. BUT, after buying a share in the World Bank, as a shareholder, she forced her way back into meetings, and demanded that the corruption that she had uncovered be exposed to the disinfecting light. After winning her case she forced the World Bank to re-employ her; and ever since, she has conducted a one woman campaign ever since to rid the world’s financial system of the corrupting influence of fiat currency, and Federal Reserve Notes – aka “The Dollar”.
As her numerous You-tube videos have now shown, the Dollar has reached the end of the road, and it is only a matter of time. Lynette Zang, Senior Trading Analyst with her company ITM Trading, suggests in her recent interviews, that the fuse has been lit, it’s only a matter of how long the wick is.
For those looking for their own parachute. Gold and Silver make the perfect insurance, though choosing where, how and what to buy is important. And that will be discussed in my next post.
In the meantime, if you’d like to get some FREE CRYPTO-CURRENCY, including Bitcoin (BTC), Bitcoin Cash (BTH), Litecoin (LTC) Monero, Dash (Digital Cash) and Dogecoin (pronounced: Doggie Coin) you can do so HERE. Their site is, as we speak being updated, so click on the save link to add this page to your favourites, and come back when their new updated site with multi-currency local wallet is available.
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“In a time of deceit, telling the truth is a revolutionary act.”
– George Orwell.
No-one can say for sure, exactly when an Empire begins its death spiral, though historians can and do, make various comments as to the potential causes. But, one empire has much to teach us about the decline of the West – the Roman Empire. (Stay with me…)
In terms of the Roman Empire, which lasted over five hundred years, at its height, it spanned from Hadrian’s Wall, Scotland in Northern Britain, through western Europe to the Sahara Desert in the south, and to Iraq and the old Persian empire in the east; and which has been studied more than most, and is therefore a good place to start.
So, we can use that to inform us, and we can use that knowledge to empower us.
The old saw goes… The truth can set you free… but only IF you act on it…
So why does it matter to us? Well, It does, and I will (I hope) prove it.
The Roman Empire essentially began Western Civilisation, and much of our legal system began based on Roman (and Canon) Law. As someone who used to teach Business Law, it began my own wider education but we can also use this knowledge for emancipation.
Many theories have been advanced for the fall of the Roman Empire, but none of them stand up to close scrutiny. Those theories advocated, have been such as: the fall was due to Hedonism and their sexual proclivities, lead in the water from their pipes, or the glaze in their cooking pots; attempting to spread into Africa, which gave many of them Malaria and other tropical diseases; embracing Christianity, and even a pre-occupation with the afterlife. All have been advanced as possible reasons.
Though there may be some validity to these as contributory reasons, I believe it is not the whole story. They, like wet-pavements, overcoats and open umbrellas, are not the cause of the rain, they are merely the symptoms of it.
But in order to really understand it we need to put aside political correctness, and open our minds to potential realities. Those who advocate “Political Correctness” are merely attempting to define the range of the debate, and restrict the train of thought, to exclude the critical and analytical thinking that might curb state power, but free thought and expression is required to provide meaningful solutions.
When the Roman Republic had been in evidence for more than five hundred years, the “Republic” was converted by Augustus Ceasar, who took power in 27 BC, to a true Empire in about 14 B.C. saying: “I am maintaining the Republic”…Like many politicians, who want to extol their virtues and supposed influence.
The Roman Army, obviously conquered a land, or nation, but didn’t leave all the troops there to maintain it. What they did was to build brick factories, tile factories, provide infrastructure in the shape of running water via aqueducts, and paved roads, Of course the Empire was vulnerable to attack, particularly on its north-eastern border along the Danube and Rhine lands, by invading Goths and Vandals, but most people tolerated the army, because of the improvements to their lives and living standards.
These barbarians however, coveted the wealth of the Empire, even though many lived alongside it, taking advantage of the stability, that the empire provided, and trading with the empire, there were many who wanted to get in. The Germanic Tribes particularly the Goths simply wanted “A better life.” There were many of them, and at first, they did not seem to pose an immediate threat.
So some emperors invited people in (like the Barbars), But many wanted to get in, to take advantage of the wealth, though not necessarily to assimilate and to take on the values that allowed the creation of that wealth, so they never integrated, and retained their original culture. (Sound familiar?)
The Roman state, according to Servius Tullius, was largely succesful, because of the character of the men – the heroes. Until the people who became citizens were given status, the character and the culture, were one of service, and honour. sharing arduous tasks, and fighting and training valiantly. And taxes, had been as little as two per-cent to pay for it all.
But the situation changed because the state needed more taxpayers becaue it needed more soldiers, and people to maintain the empire, as it grew, and the state which had access to the grain in the bread-basket of Rome – Egypt, began giving grain to its citizens – in the now infamous cry of “Bread and Circuses”. (Social Welfare and Reality TV Anyone?)
So, in terms of the Roman Empire, what WAS the key driver of its downfall?
The Romans, encompassed a huge geographical area. They were attacked in the North, by the Goths, and the Vandals (collectively termed “Barbarians” or “Barbars”), because the Romans didn’t understand the language of these people, and it just sounded like they were saying “Bah Bah Bah”.
But the real rot set in, when they began devaluing their currency. During the ‘Classical’ Roman ‘golden age’, the ‘aureus’, ‘denarius’, and ‘as’ were issued in gold, silver, and bronze/copper respectively (rather like British currency of Gold, Silver and Copper of pre-decimalisation coinage). The ‘as’ went from bronze to copper during Augustus’ reign around 23BC
There was the aureus, which the wealthy used, and 1 aureus equalled 25 denarius, which had been almost pure silver. But as time progressed, like Gresham’s Law, people hoarded the old purer denarius coins, and spent the newer less pure ones. And this continued, until the silver content was circa 2%, and almost worthless. The Emperor, needed to pay more soldiers as the size of the empire grew, and this required more money to pay the army.
At the time the sestercius (roughly 1/4th of a denarius) was the smallest coin, and over time, the roman soldier’s pay went from about 1/3 denarius a day to 1200 sesterces a year, – 300 denarii a year, a little less than one a day. All because of the devaluation of the money, and the expansion of the currency by reducing the silver content – WE see this in modern banking, when the economists call for a circa 2% inflation rate, as this reduces the value of your savings, and forces you to enrich the bankers, who can always isolate themselves from the effects.
– As Sir Josiah Stamp – Former Director of the Bank of England said,
“The bankers own the Earth. Take it away from them, but leave them the power to create money, and with the flick of the pen, they will create enough money to buy it back again. However, take away from them the power to create money, and all the great fortunes like mine will disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of the bankers and pay the cost of your own slavery, let them continue to create money.”
To solve the problem, the solution is given here…
The Fall of King Dollar…[Part 2]
So, what are the driving forces forcing the demise…Well, let’s start at the beginning. The Dollar strength took off, when the Secretary of State for Foreign Affairs – Henry Kissinger, convinced King Faisal of the Saudi Kingdom to price oil, in dollars – the deal to protect the House of Saud, in return for a dollar hegemony. The world needed oil, and to buy oil, they now needed dollars. Demand for dollars therefore took off, and that gave the U.S. economy, the financial muscle to take on the Soviet Empire, put the best funded military into 147 different countries, pay for the space race, fund the stealth technology in military aircraft, and develop computer chips that went from several thousand ICs (Integrated Circuits) on an Intel Chip, in 1974, when they developed the 4004 Chip, that went into early calculators.
This was so-called because the chip had 4,004 Integrated Circuits. The, latest chips now have upto several hundred thousand million ICs, that are in the latest quad-core, octa-core, and hexa-core behemoths that we see in everyday smartphones of today.
Almost every nation therefore holds its currency reserves in Dollars. However, the BRICS nations are in the process of de-dollarisation. As part of that process, the Russians and Chinese have been developing parallel systems. the World Bank has been replicated
At the same time that technology is experiencing “exponential growth”… the costs of many of these advanced technologies are plummeting… For example, in 1996, the $55 million ASCI Red Supercomputer was the first computer to reach the speed of 1 Teraflop. It occupied a warehouse almost the size of a tennis court. In 2014, Sony released its PlayStation 4 video game console. It has almost twice the computational power as ASCI Red… and it costs 1/100,000th the price. At just $400.
And that technological growth is going to kill the oil industry’s dominance of the planet, and perhaps the Banker’s power too, (until perhaps the SDR becomes the world trade currency) by ushering in a new industry of battery-powered self-driving vehicles, digitally controlled by low power devices, and drive immense technological shifts – to driverless battery-powered taxi-cars, that will patrol the streets like a cougar hunting its prey.
Your smartphone will be able to use the Uber smart app, to call up the nearest one, and take you to your destination for almost the price of a postage stamp, and these vehicles will be powered using Lithium-ion batteries, and capaictors that charge from totally flat to fully charged in 15minutes or less… time enough for you to stop in a gas-station and have a quick coffee, on your drive from the East-Coast, to the West-coast…And of course, there’s Tesla’s. Elon Musk’s vision of the future motoring. According to the latest reports, Tesla has taken millions in deposits for its latest model 3, and has $14 billion in enterprise value. Of course, if the vehicle is not yours, you won’t need to pay car-tax, insurance, or petroleum tax… So, what are they going to use for revenue?
The rise of these super technologies, will totally kill the gas guzzling behemoths, and the oil industry giants unless they adapt – and FAST, but will also throw up some excellent investment opportunities.
Ford is investing $1 Billion, over the next five years in the technology, while Honda is building a self-driving engine. Apple is secretly building its own vehicle – the “i-Car?” and Volvo is in the process of testing in two pilot programmes, while several other industry tech-giants – Uber, Samsung, Google, Facebook and Amazon are all betting big on this latest innovation.
We are probably less than 5 years away from the dawn of this technology, and less than 15 years since the future will be battery powered. In 1901, New York city streets rang to the sound of hooves as every vehicle was drawn by a horse. Just 12 years later, a similar shot would show not one horse on the city’s streets. that’s how quick the change happened, and that came about because of a massive oil-well drilled in Texas in 1901. Spindletop produced initially at 100,000 barrels per day, before falling away to 10,000 bpd, 4 years later, but hundreds more were drilled creating the conditions for the boom that ushered in the motor-age.
But the boom, like all booms was a precursor to a bust. By 1907, an earthquake in San Fransisco caused massive destruction in the city. On April 18th at a little after 5am, the quake at 7.8 on the Richter scale almost totally demolished the city, and the insurance market suffered massive losses draining liquidity from markets.
Will the hurricanes in the Caribbean in recent days have the same outcome?
Hurricanes Irma, and José, may be just the calamity, that finally breaks the back of the American Dream. As the U.S. government’s debt ceiling is raised beyond the $20trillion set last year. Hurricanes Harvey and the rest may take capital away from other projects. The people of southern US states, may have the largest clean up bill since that devastation in 1907, when the San Francisco earthquake precipitated the financial crisis, in 1908 and which ultimately led to the creation of the Federal Reserve, the 16th amendment, and the imposition of National Income Tax in 1913, which some say was not legislated for correctly, and thus is not a legal requirment, but the IRS may beg to differ, and act accordingly.
But that is not the only problem… In 1999, the Department of Defence, had $1.1 TRILLION of undocumented adjustments, and in the following year, 2000 they had $2.3 Trillion according to Catherine Austin Fitts, former Assistant Secretary for Housing and Urban Development (commonly known as HUD). On the 10th September 2001, Donald Rumsfeld Secretary of Defense, announced that there was $2.3 Trillion of missing transactions… According to some reports, I’ve heard, some of the documents for those missing Trillions, were in building 7 of the World Trade Centre whose free-fall collapse on 9/11 which disappeared when it came down, and some claim was an attempt to hide the evidence of gross financial misappropriation… But, we all know what heppened next….
You can see the big picture here…When, Aaron Russo, tells a few home truths about how America is REALLY run in his film – From Freedom to Fascism
In it he explains how Americans are governed, how the law is flouted, how tax laws are imposed in contravention of the constitution, and the end goal for this cabal of banker elite. And you can read the full unexpurgated story into how we in the West, descended into serfdom here —>>. The Coming Battle
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Anyone who watched the news in the last few days, can’t help but have heard about events in America, and the rallies that resulted in fights, and even 3 deaths in Charlotsville, Virginia, U.S. of A.
Those news reports on mainstream media though, as can often happen in the heat of battle, are not entirely accurate, and can paint a distorted view, based on incomplete evidence.
That’s why we long ago, in the West realised that the judicial system is the place where we should take accusations, investigate those, and present all the evidence to reach a balanced conclusion – Guilt or Innocence.
The lynchmob was outlawed by this, and we promoted the “Rule of Law” as a way to ensure we each – whether high or low born – got the justice that supposedly ensured that we could face our accusers, and only if there was the evidence to support those accusations, which ran contra to the laws that, ‘WE the people’, wished to be enacted, were found guilty.
Today’s 24hour News channels, and the now hundreds if not thousands of “Citizen Journalists” don’t have the luxury of having time to research the situation, gather all the evidence and reach a balanced view to present to the public. So, we the public are galvanised into taking actions (perhaps sometimes inadvisedly) when we are outraged by the video or written evidence before us. We see a distorted incomplete view of things. Charles Mackay wrote of this herd mentaility when he wrote “Extraordinary Popular Delusions, and the Madness of Crowds” over 100 years ago, and should be read by anyone who wants to understand how we people function and how we are influenced.
But, we also need to not forget the lessons of history. It is probably (I’m tempted to think of the Heineken adverts here) a truth that within 2 generations, the cultural heritage of the West will be gone, unless we defend and strengthen it. The culture of Greek, and Roman Law, the Renaissance, that encouraged discourse, and critical thinking; the Reformation, that took the religious tenets and put those under the microscope, and in so doing sponsored the industrial revolution that the printing press and machinery gave us. The growth of which ultimately led to democratisation, and changes in social and political views as we argued our way to a future where we thought we were all equal, and we could criticise those with power over us, and challenge them.
A continent where we put in place social systems that ensured we all shared in the increasing wealth that ensured ME, a working class lad from a mining village could enjoy the fruits of a brick built house, with double-glazed windows, central heating, refrigerator, freezer, fresh food from around the world, a car and television that both educated and informed me, and live in a luxury that was reserved for Kings, just a 100 years before.
In my ideological youth, when John Lennon sang: “Imagine there’s no country, nothing to live or die for, and no religion too” he was idealising, and I supported him. But in a world with shared cultural values, where people tolerated other’s views that was hope, but the left seized upon that to diminish national identities, and to use it to promote the “Globalists” agenda. Is that possible? Especially, when one religion seeks to impose its cultural values on the rest of the 6+ Billion people who are not of that faith, and whose faiths also bear respect too?
The white liberal left and the ethnics, who have historically suffered, appear to want the destruction of the White European culture, that they inherited after two millennia of struggle in the cause of idealised egalitarianism, and failed to recognise, partly I suspect through ideology, and partly through ignorance, the threat to that culture that exists from a small but growing proportion of the population, who in their collective ignorance are using a book, and views that were outdated 1400 years ago.
The consequences of which will bring about the total destruction of all that our forefathers worked for – tolerance, equality of opinion, faith and economic prosperity. Those nations that have followed the faith, have endured unending war, and poor growth prospects, at a time of rapid population growth – 8 Billion by 2025-2030, 9 Billion by 2050, and 10 Billion long before the end of the century.
A segment of the population whose only answer to their plight is to look to the heavens is destined for penury. We humans have applied our minds to numerous solutions, some have proved over the fullness of time, and constant re-assessment, to be the best solution. some political and social systems have flaws, we accept those, but if you cannot apply a critical mind, but only a narrowly focussed one (He said we should do this) – HE being whichever God, or Prophet you choose – then we as a species, and Whites of European extraction from the Caucasus in the East, to the Pyrenees in the West, to the Arctic Ocean in the North, will be eliminated, and that will be the poorer for the whole world.
WE who shrugged off our Feifdom overlords, shrugged off our religious domgatists, and fought the Industrialists, Socialists and Fascists, will now in the ideology of egalitarianism, kill the VERY thing that gave us our rich lives. It will be a sad, SAD day.