Money is accounting and the corruption is underestimated.

What is needed is a common language to describe financial transactions. I solved this 8 years ago. It's a structured form of contract law.

Lawyers, IT, and finance can't screw it up. Nor can it be misrepresented by other languages or cultures.

IT people don't understand:

Law/contracts
Banking
Finance
Accounting
Money

Therefore, they need a standard protocol and data structure.

Communicating transactions without ambiguity

Different cultures and languages create mis-communications in monetary transactions, therefore a standard protocol is necessary.

Some of these mis-communications are perpetuated deliberately and is the cause of wars.

Currency distribution in the United States

Who creates cash and destroys cash? Who controls the cash distribution network in the United States? Who can revoke bank charters and control distribution, terms, and fees all the way to the ATM?

The answer is Janet Yellen, Federal Reserve chairperson.

Examples:

1.  As Janet Yellen controls the bond purchases from the Treasury, she can dictate Congressional budgets (how it is spent/distributed).

2.  As Janet Yellen controls the debt structure and rollovers, she can revoke charters of Wall Street firms, and dictate fee and debt structure.

3.  If accounterfeited digital cash is found in a billionaire's bank account, it can be confiscated and destroyed.

That effectively makes her the "boss" of all Americans.

How to fix the world's monetary system?

The USD's design ensures bond-OWNERS receive interest in perpetuity from a class of bond-PAYERS.  While appearances are kept that bond-payers have a chance of becoming bond-owners, in reality that is nearly impossible.  That structural defect was designed and deliberate and literally trains those in the financial industry to follow the basic model of:  sell labor forward and extract a payment.  What is that?  Slavery.  This is how Wall Street makes money.

Are you guilty or ignorant?

If you work in the financial industry, unless you actively do something to fix the system (as described below), you are now guilty of conspiracy to enslave the human race.  Please pass this to your boss.

Why is a public banking protocol and standard necessary?

If you have access to a bank's database, you can change the amount to $1 billion and spend it.

Since the bank is a database, data security is also needed:  System.Persistence

Venezuela could have saved the Bolivar...

If they had recognized that the fraud was in the digital currency and not necessarily the paper currency, Venezuela could have reneged on its digital obligations, thereby increasing the value of the paper AS WELL as its future oil extractions and contracts.  The population would have retained purchasing power and strict controls over the digital would have been politically accepted with no civil unrest.

This will likely anger a very few who have "assets" denominated in digital Bolivars and paper hoarding might have become an issue (depending), however, this might be food for thought, if and when another currency undergoes attack.

Venezuela's shortages could lead to a humanitarian crisis
Venezuela Veers Toward a Humanitarian Crisis

How to become an instant trillionaire!

1. Work for any bank (or hack into the database).
2. Change the amount in your account to $1 trillion.
3. Buy off anyone who asks questions.

Everyone has a buy-off point, and people can be threatened:   "Here's $50 million.  Keep quiet.  If you say a word, I'll have Bruno kill you and your family."


Due to the above scenario, I highly suggest a public standard.

Texas gold bullion...

Would it be possible to create a gold-backed DIGITAL currency where the State of Texas would only own the DIGITAL, but the digital coins would be directly exchangeable for physical gold?

No storage costs or fees.
No possibility of theft.
Full audit trail.
Distributed vault.

Gold WITHIN Texas (at local shops) would have to maintain at least the total amount of digital coinage.  That could be done through legislation, or perhaps market forces?

Possibly 10% of the billion could be purchased in physical gold with a public vault on the UT Austin campus. Stealing $100 million in gold from the center of UT with overhead planes and security cameras and 50,000 students is kind of difficult.  $20,000 each?  Not enough to buy them off.

https://bitcoinmagazine.com/21283/texas-bullion-depository-challenges-federal-reserve-system/

Banks are databases & money is an entry in a ledger

Everyone has a buy-off point.


So, there is no more mystery about the concept of money or what it is:  it is simply accounting fraud today.

Bank of America halts wire transfers to Belize

In July:  Bank of America halts wire transfers to Atlantic Bank International.

Back in April: Bank of America halts wire transfers to Belize Bank


"So, the books aren't balancing, huh?"

"So, where'd the cash to buy THAT, come from?"

I bought the HIGH tick of the morning on the SET 50

The daily is in an overall downtrend, and I shorted 926.30 shortly after the morning open.  Price moved in my direction about 2 points, then buying started about 925.00.  I am new to the SET 50 and while I almost covered at 925 due to seeing the strong buying at 925, the volume was insufficient.

My stop was at 927.50, which was a couple ticks higher than the previous swing high (5 minute chart).

I think all of about 5 contracts traded at 927.50.  One of them was mine.

http://www.washingtonpost.com/national/health-science/cerner-wins-dod-contract-to-overhaul-electronic-health-records/2015/07/29/7fbfccfa-35f5-11e5-b673-1df005a0fb28_story.html

Venezuela being forced to sell off long term

https://www.yahoo.com/news/venezuela-risky-financial-acrobatics-raise-hard-currency-022525771.html

Assets to satisfy short-term debt issues. I wonder if there isn't a better way to structure their currency that might allow short term liquidity without long term losses.

'Earth is their vault'.

Currency wars - prognosis of the USD

Reading this interesting comparison between Iceland and Ireland, it can be understood that each currency is a microcosm used to determine outcome and adjust strategy accordingly. (Scotland cutting off the Queen was a significant event.)

The USD is King of the currencies and is under attack from all sides.

Prognosis

If the USD is engineered into hyperinflation (as it appears it is poised to), the US population is heavily armed and will need to fight for food or water. This will position the population against its own military and police force (as has been seen). With large casualties, the "winners" can walk into the US with few casualties of their own.

Solutions

• restore trust in the accounting
• restore trust in the data security
• stock exchanges in 50 states distributes capital much more effectively