Blog 56

2013-April-12

Financial System - The Next Stage

The Bloodless Revolution

I have been writing for some time about the banks, bankers and the whole corrupt international financial system.

I honestly did not see any chance of the system changing given the power the banks have acquired, short of a worldwide revolution, I even hinted at this in my cartoon here. I suppose the revolution I had in mind was akin to an escalation of the protests we are seeing around the world when countries impose draconian austerity measures on the people to pay for the misdemeanors of the wayward bankers [and politicians for letting them get away with it].

But in much the same way that email replaced overland letters and file-sharing changed the way music is bought, it seems we may be on the threshold of a bloodless revolution in the way we buy and sell based on a currency system not too dissimilar to the old 'gold standard', that was killed by the banks for their own reasons [reasons which became all too obvious in recent times'. I am talking specifically about 'Bit Coin', a digital monetary system with a finite limit on the amount that will ever be produced that can be traded internationally and easily converted to any other currency anywhere person to person at virtually no cost.

I am not going to go into detail here about all the mechanics of the system, there are already hundreds of articles on the Internet and anyone interested should just Google 'Bit Coin'.

What I will say though, is that I did not foresee this and I am excited at the prospect of this dealing a severe blow to banks, bankers and the whole of the current corrupt international financial system.

This video is one of the best I have found which gives a good overview if what Bit Coin is all about and the consequences for the current system:

See also: BITCOIN - INTRO

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