What you are looking at right now could be the most important building in the world.
Bank Of International Settlements
I know what you are thinking…
It isn’t the White House or the United States Capitol.
It isn’t even the Supreme Court.
This is the Bank Of International Settlements and an ultra exclusive club of eighteen members gather approximately every other month on a Sunday at 7:00pm here, anything said it is understood is not to be repeated without permission.
These eighteen members attend the Economic Consultative Committee (ECC) of the Bank for International Settlements (BIS), which is the bank for central banks.
In fact even the chairman of the United States Federal Reserve is at the mercy of the BIS according to esteemed journalist Adam LeBor.
One ultra insider named Charles Coombs, a former foreign exchange chief of the New York Federal Reserve, attended governors’ meetings and said bankers who were allowed inside the inner sanctum of the governors’ meetings trusted each other absolutely, he recalled in his memoirs. “However much money was involved, no agreements were ever signed nor memoranda of understanding ever initialized. The word of each official was sufficient, and there were never any disappointments.”
What, then, does this matter to the rest of us?
Bankers have been gathering confidentially since money was first invented. Central bankers like to view themselves as the high priests of finance, as ordained technocrats overseeing arcane monetary rituals understood only by a small, self-selecting elite.
These 18 men set interest rates, thus deciding the value of our savings and investments. They decide whether to focus on austerity or growth.
Their decisions shape our very lives.
In the coming months according to a NY Times best-selling author and financial mastermind a new potential money plan by the FED could be in the works.
He believes something shocking and disturbing may be going on at the FED that will catch most Americans completely off guard and pose a significant threat to our beloved US Dollar.
That’s right, he thinks that we are in line for one of the most drastic and draconian changes to the US money system in history.
Perhaps it could be more significant than the creation of the Fed in 1913 or President Nixon devaluing the dollar by untethering it from gold in 1971!
The Economist says in a recent article “The Disappearing Dollar” “If America keeps on spending and borrowing at its present pace, the dollar will eventually lose…And that would hurt: the privilege of being able to print the world's reserve currency, a privilege which is now at risk!”
You read that correctly. The Economist is arguably the most esteemed financial bible for the last 173 years (founded in 1843) and now says the dollar is at risk.
The respected 12-term Congressman Ron Paul says: “Since 1913 the dollar has lost over 95% of its purchasing power, aided and abetted by the Federal Reserve’s loose monetary policy.”
Dollar Collapse Graphic From Ron Paul
With the Economist broadly proclaiming how unstable the dollar really is will the Fed might try to create an alternative soon?
What would happen if the Federal Reserve created a look-alike dollar? It could be called the “Fedcoin” similar to “bitcoin.
Isn’t this already happening?
In “Some Thoughts on Fedcoin – a Fed backed cryptocurrency” Albert Szmigielski says, “[T]he Fed should premine all the currency that they want to issue on a blockchain….A premine happens where all (or part of) the cryptocurrency is issued in the first block, the genesis block. Then the Fed would just exchange the fedcoin for a dollar each.”
Why The Fedcoin?
Think of it as digital cash, just like Bitcoin but without the volatility because the FED would be behind it.
It would be a payment system where you can send dollars to anyone else with a Fedcoin wallet in seconds.
Try not to be shocked if this is your first time hearing about the “FEDcoin”
The Fed has been looking at cryptocurrencies for a while.
Most recently the Fed mentioned blockchain based payment systems in a white paper: Strategies for Improving the U.S. Payment System (pg 39 footnote, pg 42).
And don’t expect the FED, the BIS and the ultra elites to give you a call before they implement their plans.
Recently a New York Times best selling author said
“… They're going to come up with a – with a completely digital currency called the Fedcoin which will actually act as a parallel, alternative to the dollar. It will have a lot of advantages from the government's point of view and as much of people seem to like Bitcoin, the public may accept it to start with.”
On a more technical explanation the premier mathematician and economist Sina Motamedi says:
“The simplest way for a central bank to create its own crypto-currency is for it to fork the Bitcoin protocol into a new protocol that is unchanged in every way except that, going forward, the central bank would set and adjust the block mining reward at its discretion…. Like paper currency, the central bank’s crypto-currency would be both decentralized (in transaction) and centralized (in supply).”
Recently, In America central bankers from 90-some countries met in secret behind closed doors in Washington D.C. and conferred with bitcoin experts.
Federal Reserve Chair Janet Yellen opened the conference, which included the International Monetary Fund, the World Bank and the ultra elite Bank for International Settlements.
To be clear crypto currencies like the “FEDcoin” are not inherently sinister or enslaving.
There are elements of the blockchain that are equally liberating to the individual in terms of speed for transfers. But at what cost?
There is the very serious threat that these entrenched ultra elite powers may attempt to co-opt "FEDcoin" use for their agenda not yours.
What do you think about the U.S. FED creating a ‘Fedcoin’? Let us know in the comments below and sign up for our free webinar on the topic.