Monthly Archives: March 2022

M2 Money Supply

The War Machine and the Federal Reserve

Money, My Thoughts,

Give a listen to the following clips taken from the book The Creature From Jekyl Island by G. Edward Griffin. I won’t give away the plot but, bear in mind what is going on in early 2022 with regards to the Ukraine and of course previous conflicts. Each is short, about 3 – 7 minutes each.

The first audio file is a short reference for the book

1111 – ITEM Now the action has spread

1112 – The New Alchemy

1113 – Fifth Reason to Abolish

1114 – Summary

 

M2 Money Supply

Also see this chart ( https://fred.stlouisfed.org/series/M2SL )  an image of which is presented as the featured image at the top of this post as of March 2020. Lots of fiat money being created lately by the system of creating debt by the Federal Reserve lending to the US Govt. Treasury and then effectively printing new money via the Treasury/Mint. As in, instead of the Govt. just minting money and creating it as one might expect, it is loaned to the Govt by the Federal Reserve. This gets around the Constitution which states that Congress can’t print bills of basically fiat money, bills of exchange. In theory bills should be against something, like a hard asset. It used to be that the Dollar was based on a specific amount of silver, that which is in the old silver dollars, I believe it was 371.25 grains of pure silver per dollar, based of the Spanish Dollar, so called pieces of 8, as it was worth 8 Reals. The dollar on paper was directly tied to this, since 1971 it is not tied to silver or gold and is just fiat.

 

 

 

Crypto Donations to Ukraine

Info Links, ,

Excerpt from 03.03.2022. Coinbase Bytes article published by Coinbase , lays out how to support Ukraine with crypto donations. Also from this it can be seen how important cryptocurrencies can be during an economic disruption. Passing this on to let others see this and also learn from what Coinbase has to say about this topic.

The quote at the bottom sums up the importance of cryptocurrencies in a time of crisis…

“My Ukrainian credit cards don’t work anymore. I’m safe physically in Kazakhstan, but all my savings are gone. Crypto is the only money I still have, and today I can say without exaggeration that $BTC, $ETH and #NFT[s] are going to save my life while I can’t come back home.”

As always with crypto, make sure you know what address you are sending to, make sure it is from a legitimate source, scams abound. Always double check the crypto address whenever cutting and pasting make sure it matches as bad actors have been known to create viruses that can hijack an address copied and pasted so funds go to them!

Links coming from legitimate sources are important. I copied some links from the excerpt below with locations to donate via crypto. For example…

The official Twitter accounts of the government and Vice Prime Minister Mykhailo Fedorov shared wallet addresses for BTC, ETH, and the USD-pegged stablecoin Tether

the Kyiv Independent also listed BTC and ETH wallets

CRYPTO SUPPORT

Crypto donations pour into Ukraine as the country resists Russian invasion

As Ukraine continues to resist Russia’s full-scale invasion, international sanctions begin to hobble the Russian economy, Russian president Vladimir Putin has resorted to nuclear saber-rattling, and global markets have whipsawed. On Monday, oil prices reached over $100 per barrel for the first time since 2014, and the Russian Ruble lost 30% of its value against the dollar, plummeting to record lows. For Ukrainians, emergency economic measures — including cash withdrawal limits (about $3,350 per day) — have prompted the country’s government, citizens, and even newspapers to call for crypto aid. Let’s take a closer look at some ways crypto is assisting during a time of crisis.

  • Ukraine has raised over $30 million in cryptocurrency since tweeting an appeal for donations on Saturday. The official Twitter accounts of the government and Vice Prime Minister Mykhailo Fedorov shared wallet addresses for BTC, ETH, and the USD-pegged stablecoin Tether (which saw such significant demand on Ukraine crypto exchange Kuna that it traded above its peg, reaching $1.10) Why crypto donations? As blockchain analytics firm Elliptic explains, “Cryptoassets such as Bitcoin have emerged as an important alternative crowdfunding method. They allow quick, cross-border donations.”
  • Russian-Canadian Ethereum co-creator Vitalik Buterin amplified the appeal on Twitter as part of a string of tweets that included a sharp rebuke of Moscow, calling the invasion “a crime against the Ukrainian and Russian people.” In other Ethereum news, Uniswap added a tool on Tuesday that allows users to swap any crypto for ETH and send it to the Ukrainian government’s wallet in a single transaction.
  • A founding member of the Russian pro-democracy punk group Pussy Riot formed a DAO to raise funds for Ukrainian civilians. Pussy Riot’s Nadya Tolokonnikova, along with members of PleasrDAO and artist Trippy Labs, formed UkraineDAO, which sold 10,000 Ethereum-based Ukrainian flag NFTs and plans to donate all proceeds (over $5 million) to the Come Back Alive Foundation, which supports Ukraine’s military, and the Proliska non-governmental organization. (If you are considering donating crypto, be mindful of potential scams and always do your research first.)
  • The Kyiv Independent, an English-language newspaper in Ukraine is seeking crypto donations to support the country’s independent media. In addition to GoFundMe pages for the paper and several partners, the Kyiv Independent also listed BTC and ETH wallets. Meanwhile, a Berlin-based blockchain startup called Arweave is attempting to preserve historical documents about the crisis — so far its network of 1,000 nodes holds about 50 terabytes of related data.
  • Last November, The New York Times described Ukrainians as among the “most avid cryptocurrency users in the world,” and they rank fourth in Chainalysis’ 2021 Global Crypto Adoption Index. Why? A combination of factors — from high inflation to a widespread lack of trust in local banks. Ukraine is also a highly tech-forward nation, with an IT export business worth almost $7 billion last year. Ukraine also adopted a progressive bill last September, enabling the government to regulate crypto.

Why it matters… Ukranians are using crypto to defend themselves from Russia’s invasion, protect their wealth, and fund their escapes to neighboring nations. In one sobering tweet, a citizen explained: “My Ukrainian credit cards don’t work anymore. I’m safe physically in Kazakhstan, but all my savings are gone. Crypto is the only money I still have, and today I can say without exaggeration that $BTC, $ETH and #NFT[s] are going to save my life while I can’t come back home.”