{"id":55311,"date":"2020-10-14T18:57:16","date_gmt":"2020-10-14T23:57:16","guid":{"rendered":"https:\/\/olduvai.ca\/?p=55311"},"modified":"2020-10-14T18:57:16","modified_gmt":"2020-10-14T23:57:16","slug":"the-insanity-of-central-banks","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=55311","title":{"rendered":"The Insanity of Central Banks"},"content":{"rendered":"
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The Insanity of Central Banks<\/a><\/h3>\n<\/div>\n
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QUESTION:<\/strong>\u00a0Marty,\u00a0you mentioned several times now, that the ECB MUST convert to a digital Euro. I have done speeches about that based on a paper from the IMF (Christine Lagarde) last year, in which they too discuss how to do it. But I have a serious question regarding timing.<\/p>\n

I live in Germany and I would say that WE (the country) are not ready for such a move yet. Let alone many people. I have people in my family who still don\u2019t have smartphones (just plain mobile).<\/p>\n

I am completely with you that this move is coming (I am also part of a crypto community but as a critical member (I am the party spoiler there)).<\/p>\n

But how can they move to a digital Euro to prevent bank runs, when I can\u2019t see the infrastructure in place to do so.<\/p>\n

Especially in such a short amount of time rg. the date you mentioned. They can eliminate cash withdrawals, yes, but paying with my smartphone reguires technology .. ?<\/p>\n

Thanks a lot,<\/p>\n

A<\/p>\n

ANSWER:<\/strong>\u00a0We are talking about bureaucrats. They only think in concepts much like Klaus Schwab\u2019s Great Reset. The practical application of what they are doing is not there. They lack even the infrastructure, as in California, to force all cars to be electric. They do not have the power grid to support that.<\/p>\n

I was in meetings where they actually told me with a straight face that they had to take trading the Euro away from Britain. I asked if they were going to take it away from the USA, Japan, Hong Kong, Singapore, etc? They looked at me puzzled, and said no! Just Britain. I asked if they really wanted to control the Euro just convert it into the old Soviet Union ruble. No free market at all.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Insanity of Central Banks QUESTION:\u00a0Marty,\u00a0you mentioned several times now, that the ECB MUST convert to a digital Euro. I have done speeches about that based on a paper from the IMF (Christine Lagarde) last year, in which they too discuss how to do it. But I have a serious question regarding timing. I live […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[5496,124,233,282,5479],"class_list":["post-55311","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-armstrong-economics","tag-central-banks","tag-ecb","tag-european-central-bank","tag-martin-armstrong"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55311"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55311\/revisions"}],"predecessor-version":[{"id":55312,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55311\/revisions\/55312"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}