November 2023 - cypherpunks@lists.ogf.org

MIA Coin and POX Kleptocracy: CORRUPTION FIN-2022-A001 - SAR 38(m).
by Gunnar Larson 13 Dec '23

13 Dec '23

Dear FinCEN: xNY.io - Bank.org, PBC thanks you for sending yesterday's advisory on kleptocracy and foreign public corruption. We have made 30 highlights to the FIN-2022-A001 <https://drive.google.com/file/d/1yF3qDQG19J-qN1vUPC36lQfVClq3HPXB/view?usp=…> advisory for reference. *The aim of today's memo is to learn FinCEN's insights into MIA Coin and the consensus algorithm Proof of Transfer (POX). xNY.io - Bank.org, PBC is concerned about potential MIA Coin and City Coin kleptocracy that may be affecting our global enterprise. * *FinCEN may note that NYCCoin is illegal in New York State, given the BitLicense mandate. As such, we are not concerned with NYCCoin's legality given the clear BitLicense mandate. * - On February 4, 2022 we submitted a City of Miami records request for any and all correspondence between the City of Miami concerning CityCoins, MIA Coin and Stacks (STX). Additionally, any and all related correspondence concerning CityCoins, MIA Coin, Stacks (STX), Digital World Acquisition Corp and Harvard Management Company. - Today, April 15, 2022 <https://drive.google.com/file/d/1OyVUBq8PcG7SVZ5lUp_oWyL0IDAR5uTP/view?usp=…> we have yet to receive the 13, 092 records. Attached you will find our latest correspondence with Miami, notifying them of our intention to contact FinCEN concerning MIA Coin and POX. - Conducting independent marketplace research, xNY.io - Bank.org, PBC established a premise to potential kleptocracy between the City of Miami and City Coins, of Iceland <https://who.is/whois/citycoins.co> international registration. Furthermore, MineMiamiCoin.com is registered in Germany <https://who.is/whois/minemiamicoin.com>. - Please find the City of Miami's resolution <https://drive.google.com/file/d/1IrQwP46alrnQXRxIoXxm8kifZMVTRB_x/view?usp=…>approving gifts from City Coins ... Furthermore, City Coins suggests a $25,000 "reward" <https://drive.google.com/file/d/1Eb2Q-LZNApwQRyjbBcD5-_yEW0Id51QD/view?usp=…> (that may be confused as bribery) for Mayors who participate. MIA Coin is powered by POX <https://drive.google.com/file/d/1wL2kN6aMfsyT-T7g01YJSBB8meMn2SWg/view?usp=…>, a computer protocol that may exploit the U.S. and international financial systems to launder illicit gains, including through the use of shell companies, offshore financial centers, and professional service providers who enable the movement and laundering. MIA Coin' POX protocol is a wealth extraction tool that unfairly rewards an inside group of miners, rewarding patronage networks that benefit his inner circle and regime. These practices harm the competitive landscape of financial markets and often have long-term corrosive effects on good governance, democratic institutions, and human rights standards. FinCEN, we are concerned Miami's City Coin <https://drive.google.com/file/d/1IrQwP46alrnQXRxIoXxm8kifZMVTRB_x/view> resolution potentially confirms Miami leaders as kleptocrats, using their position and influence to enrich themselves and their networks of corrupt actors. Finally, we understand that MIA Coin and POX operations are powered by international data warehouses, located in Iceland, Germany and Hong Kong. For these reasons, given FinCEN's alert on kleptocracy and foreign public corruption we kindly seek guidance. Sending you the very best regards. Thank you, Gunnar Larson -- *Gunnar Larson - xNY.io <http://www.xNY.io> - Bank.org <http://Bank.org>, PBC* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107 New York, New York 10001 ---------- Forwarded message --------- From: Financial Crimes Enforcement Network < fincenupdates(a)public.govdelivery.com> Date: Thu, Apr 14, 2022 at 2:46 PM Subject: FinCEN Updates: FinCEN Issues Advisory on Kleptocracy and Foreign Public Corruption To: <g(a)xny.io> *You are subscribed to FinCEN Updates. The information below is available at Fincen.gov.* *FinCEN Issues Advisory on Kleptocracy and Foreign Public Corruption* The Financial Crimes Enforcement Network (FinCEN) today issued an advisory on kleptocracy and foreign public corruption, urging financial institutions to focus their efforts on detecting the proceeds of foreign public corruption — a priority for the U.S. Government as it continues to implement the U.S. Strategy on Countering Corruption <https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDAsInVy…>. The advisory provides typologies and potential indicators of kleptocracy and other forms of foreign public corruption, namely bribery, embezzlement, extortion, and the misappropriation of public assets. *News Release:* https://www.fincen.gov/news/news-releases/fincen-issues-advisory-kleptocrac… <https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDEsInVy…> *Advisory: * https://www.fincen.gov/resources/advisories/fincen-advisory-fin-2022-a001 <https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMDIsInVy…>

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[log][personal][ot] digital strangenesses
by Undescribed Horrific Abuse, One Victim & Survivor of Many 11 Dec '23

11 Dec '23

this ipad's gps began thinking it is in washington a couple nights ago, and hence now sets the time 3 hours in the past

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Re: [OpenRecords] Request FOIL-2023-056-15960 Acknowledged (NYPD Body Camera Footage)
by Gunnar Larson 06 Dec '23

06 Dec '23

Dear Madam or Sir: Thank you for your response on July 16, 2023. I am just confirming that the NYCCoin body camera footage is still on track for November 29, 2023 delivery. Can you confirm as such please? The matter was recorded late March 2023. And xNY.io - Bank.org must close our EOY-23 books. Any further delay of the body camera footage could be a challenge to N.Y. Executive Law, Article 15 Human Rights Law, § 296. Unlawful discriminatory practices: 14. ... whether or not accompanied by the person for whom the dog is being trained. 16. It shall be an unlawful discriminatory practice, unless specifically required or permitted by statute, for any person, agency, bureau, corporation or association, including the state and any political subdivision thereof, to make any inquiry about, whether in any form of application or otherwise, or to act upon adversely to the individual involved, any arrest or criminal accusation of such individual not then pending against that individual which was followed by a termination of that criminal action or proceeding in favor of such individual, as defined in subdivision two of section 160.50 of the criminal procedure law, or by an order adjourning the criminal action in contemplation of dismissal, pursuant to section 170.55, 170.56, 210.46, 210.47, or 215.10 of the criminal procedure law, or by a youthful offender adjudication, as defined in subdivision one of section 720.35 of the criminal procedure law, or by a conviction for a violation sealed pursuant to section 160.55 of the criminal procedure law or by a conviction which is sealed pursuant to section 160.59 or 160.58 of the criminal procedure law, in connection with the licensing, housing, employment, including volunteer positions, or providing of credit or insurance to such individual; provided, further, that no person shall be required to divulge information pertaining to any arrest or criminal accusation of such individual not then pending against that individual which was followed by a termination of that criminal action or proceeding in favor of such individual, as defined in subdivision two of section 160.50 of the criminal procedure law, or by an order adjourning the criminal action in contemplation of dismissal, pursuant to section 170.55, 170.56, 210.46, 210.47, or 215.10 of the criminal procedure law, or by a youthful offender adjudication, as defined in subdivision one of section 720.35 of the criminal procedure law, or by a conviction for a violation sealed pursuant to section 160.55 of the criminal procedure law, or by a conviction which is sealed pursuant to section 160.58 or 160.59 of the criminal procedure law. An individual required or requested to provide information in violation of this subdivision may respond as if the arrest, criminal accusation, or disposition of such arrest or criminal accusation did not occur. The provisions of this subdivision shall not apply to the licensing activities of governmental bodies in relation to the regulation of guns, firearms and other deadly weapons or in relation to an application for employment as a police officer or peace officer as those terms are defined in subdivisions thirty-three and thirty-four of section 1.20 of the criminal procedure law; provided further that the provisions of this subdivision shall not apply to an application for employment or membership in any law enforcement agency with respect to any arrest or criminal accusation which was followed by a youthful offender adjudication, as defined in subdivision one of section 720.35 of the criminal procedure law, or by a conviction for a violation sealed pursuant to section 160.55 of the criminal procedure law, or by a conviction which is sealed pursuant to section 160.58 or 160.59 of the criminal procedure law. For purposes of this subdivision, an action which has been adjourned in contemplation of dismissal, pursuant to section 170.55 or 170.56, 210.46, 210.47 or 215.10 of the criminal procedure law, shall not be considered a pending action, unless the order to adjourn in contemplation of dismissal is revoked and the case is restored to the calendar for further prosecution. Thank you, Gunnar Gunnar Larson xNY.io - Bank.org 917-580-8053 n, Jul 16, 2023, 11:03 AM IABCMDCNTR <IABCMDCNTR(a)nypd.org> wrote: > Mr. Larson, > > The FOIL request you requested was acknowledged and a response will be on > or about Wednesday, November 29, 2023. They will follow-up with your > request. If the request is denied, and you would like to file a complaint, > we will assist you. Have a good day. > > > > *COMMAND CENTER, INTERNAL AFFAIRS BUREAU * > > > > > > > > This e-mail message and any attachment(s) is intended only for the person > and/or entity to which it is addressed and may contain CONFIDENTIAL or > PRIVILEGED material. Any unauthorized review, use, disclosure or > distribution is strictly prohibited and may violate applicable laws > including the Electronic Communications Privacy Act. If you are not the > intended recipient, please contact the sender by reply e-mail and > delete/destroy all copies of the original message. If you are the intended > recipient but do not wish to receive communications through this medium, > please so advise the sender immediately. Please treat this and all other > communications from the New York City Police Department as LAW ENFORCEMENT > SENSITIVE / FOR OFFICIAL USE ONLY. NO REPORT OR SEGMENT THEREOF MAY BE > RELEASED TO ANY MEDIA SOURCES. > > > ------------------------------ > *From:* Gunnar Larson <g(a)xny.io> > *Sent:* Sunday, July 16, 2023 10:56 AM > *To:* FDSHelpDesk(a)ethics.ny.gov <FDSHelpDesk(a)ethics.ny.gov>; > ethel(a)jcrope.ny.gov <ethel(a)jcrope.ny.gov>; IABCMDCNTR <IABCMDCNTR(a)nypd.org > > > *Cc:* letitia.james(a)ag.ny.gov <letitia.james(a)ag.ny.gov>; > cypherpunks(a)cpunks.org <cypherpunks(a)cpunks.org>; Harris, Adrienne A (DFS) > <Adrienne.Harris(a)dfs.ny.gov> > *Subject:* Fwd: [OpenRecords] Request FOIL-2023-056-15960 Acknowledged > > > > > *CAUTION! EXTERNAL SENDER* > > *STOP WHEN UNSURE.* Never click on links or open attachments if sender > is unknown, and never provide user ID or password. *Suspicious?* Please > report to this email address: reportphishing(a)nypd.org > > Dear New York Ethics Team: > > I am concerned that the FOIL below is subject to obstruction of justice. > > The FOIL request is for access to NYPD body cam footage, for NYCCoin > Touting. > > Ethics Team, I am concerned that the Chief of your office is also the > Chief of the City Mayor's office. > > The body cam footage should have an agreeable time for delivery. I am > concerned that the Mayor is retaliating against NYCoin and the NYPD may be > aware of this. > > The video would or would not delineate any form of unnecessary force. The > NYPD may be aware of this. > > Obviously, xNY is very protective of digital asset innovation. Ethics is a > serious matter and the body cam footage would be helpful concerning > NYCCoin. > > Sincerely yours, > > Gunnar > > Gunnar Larson > xNY.io - Bank.org > 917-580-8053 > > > ---------- Forwarded message --------- > From: <donotreply(a)records.nyc.gov> > Date: Fri, Jul 14, 2023, 12:25 PM > Subject: [OpenRecords] Request FOIL-2023-056-15960 Acknowledged > To: <g(a)xny.io> > > > The New York City Police Department (NYPD) has *acknowledged* your FOIL > request FOIL-2023-056-15960 > <https://a860-openrecords.nyc.gov/request/view/FOIL-2023-056-15960>. > > You can expect a response on or about Wednesday, November 29, 2023. > Additional Information: > > Your request has been assigned to PAA Quagliano (646-610-5296) > > > Please visit FOIL-2023-056-15960 > <https://a860-openrecords.nyc.gov/request/view/FOIL-2023-056-15960> to > view additional information and take any necessary action. >

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Meta Platforms, Inc. Board of Directors - USPTO, Digital Assets and Moscow Exchange
by Gunnar Larson 06 Dec '23

06 Dec '23

Dear Meta Board of Directors: Please find the attached memo <https://docs.google.com/document/d/1f_fq1GaKNaAUGEyztdm-oMtIuEW2yXj4C5aoN0G…> addressed to your attention. - Today’s correspondence is to kindly submit xNY.io’s overall concern of Meta Platforms, Inc. and Moscow Exchange mark similarities, specifically, both marks seemingly resemble a geometric design consisting of two loops and/orovals touching or intersecting. xNY.io kindly asks Meta’s Board to respond by Friday, March 25, 2022 at 5:00pm EST. Respectfully yours, Gunnar Larson -- *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107 New York, New York 10001

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Re: FOIL #2022-090560 Appeal
by Gunnar Larson 06 Dec '23

06 Dec '23

Ms. Tomczak: Kindly follow-up with you on this matter. Thank you, Gunnar On Fri, Nov 10, 2023, 4:52 PM Gunnar Larson <g(a)xny.io> wrote: > Ms. Tomczak: > > Hope you are well. Can you please update xNY.io - Bank.org on our Apple > Card records request? > > Ms. Tomczak, this matter has been going on over 600 days. It involves a > D&O condition of the past Superintendent. We have a similar problem > concerning another D&O matter that Ms. James and Ms. Harris are aware of. > > Mitigating all risk, we do not want the Apple Card scenario to further > complicate excess D&O matters at xNY.io - Bank.org. As I understand it, the > Eastern District of New York has a deferred agreement with Apple Card that > NY-DFS' character and fitness guidelines require xNY.io - Bank.org to > respect. > > We are not exactly sure on the deferred agreement's expiration date, it > may have been within the last two weeks. If the date has expired, xNY.io - > Bank.org would need NY- DFS to further facilitate a copy of correspondence > with the Eastern District of New York, given the nature of federal and > international law expressed by the deferred agreement (fun fact, I was a > founding producer of the UN's Audio Visual Library of International Law). > > Does NY-DFS have an update on the Apple Card concern? If not, can you > please provide xNY.io - Bank.org confirmation that NY-DFS has communicated > with the Eastern District of New York and that we are not party to the > deferred agreement's scope of influence by EOD, Monday November 13, 2023? > > Have a great weekend and Happy Veterans Day. > > Thank you, > > Gunnar > > Gunnar Larson > xNY.io - Bank.org > 917-580-8053 > > > > > On Mon, Oct 16, 2023, 12:06 PM Tomczak, Christine (DFS) < > christine.tomczak(a)dfs.ny.gov> wrote: > >> Hello Mr. Larson, >> >> >> >> I will check into this. Sorry for the delay. >> >> >> >> Christine >> >> >> >> Christine M. Tomczak >> >> Assistant Counsel >> >> >> >> New York State Department of Financial Services >> >> 1 State Street, New York, New York 10004 >> >> >> >> >> >> >> >> >> >> *From:* Gunnar Larson <g(a)xny.io> >> *Sent:* Monday, October 16, 2023 9:35 AM >> *To:* Tomczak, Christine (DFS) <christine.tomczak(a)dfs.ny.gov> >> *Subject:* Re: FOIL #2022-090560 Appeal >> >> >> >> *ATTENTION: This email came from an external source. Do not open >> attachments or click on links from unknown senders or unexpected emails.* >> >> >> >> Dear Ms. Tomczak: >> >> >> >> Hope this email finds you well. >> >> >> >> Concerning the Apple Card records mentioned in your letter dated July 25, >> 2023, today xNY.io - Bank.org kindly seeks an update on this >> important matter. >> >> >> >> Please let us know when the time is convenient for you. >> >> >> >> Sending you the best wishes. >> >> >> >> Thank you very much, >> >> >> >> Gunnar >> >> >> >> Gunnar Larson >> >> xNY.io - Bank.org >> >> 917-580-8053 >> >> >> >> ue, Jul 25, 2023, 2:54 PM Tomczak, Christine (DFS) < >> christine.tomczak(a)dfs.ny.gov> wrote: >> >> Dear Mr. Larson, >> >> >> >> See attached letter. >> >> >> >> Best regards, >> >> >> >> Christine Tomczak >> >> >> >> >> >> Christine M. Tomczak >> >> Assistant Counsel >> >> >> >> New York State Department of Financial Services >> >> 1 State Street, New York, New York 10004 >> >> >> >> >> >> >> >>

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New York AG Letitia James Seeks New Crypto Regulatory Powers for AG's Office and NYDFS: Report
by Gunnar Larson 06 Dec '23

06 Dec '23

As an African American who was arrested for NYCCoin touting ... Mayor Adams' corruption at Coinbase is NYCCoin Insider trading. What is astonishing, is compliance at Coinbase is regulated by an African American. Superintendent Harris continues to play deleft to Mayor Adams' new loan program with Goldman Sachs and Ones Million Black Women. I am black and so are they but Gunnar Larson has carried a major financial loss ... One Million Black Women will be a project I plan to engage both the Mayor and Superintendent on. Meanwhile, at Coinbase both black Harris and Adams are profiting from her willful non compliance on things like child sex trafficking according to Coindesk. ---- https://www.coindesk.com/policy/2023/05/05/new-york-attorney-general-seeks-… “The lack of transparency plaguing the crypto industry causes immense harm to countless investors, especially low-income New Yorkers and people of color who carry a disproportionate share of the losses,” New York City Comptroller Brad Lander said.

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Cryptocurrency: Capturing The Carnage, BTFD!
by grarpamp 04 Dec '23

04 Dec '23

As all the derivatives, shitcoins, exchanges, and debt unwind, and as Global Fiat happily pours its fuel on the fire via raising yields and QT, solid distributed p2p crypto projects and developing tech on the caliber of Bitcoin, including BTC, will survive to see greener days ahead. As such, both the rational and the insane might do well to DYOR on BTFD. https://www.youtube.com/watch?v=l4v8rLEI4Pg BTFD McAfee GANG! https://www.youtube.com/watch?v=V3QQJ18toPo PANIC SELLER!

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Death to America - hope for humanity
by professor rat 30 Nov '23

30 Nov '23

Death to America! Forward as an anarchist planet! >From the corpse-news media: “A 121-year-old bronze statue of a Spanish-American War soldier has vanished from an Oregon veterans monument . . . " https://anarchistnews.org/content/soldier-statue-torn-down-thanksgiving-nig… Reposting the revolution. VIVA la REVOLUTION!

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Cryptocurrency: Bitcoin-BTC Fork Coming
by grarpamp 30 Nov '23

30 Nov '23

There is another idealogical and technology fork brewing. Be prepared...

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Cryptocurrency: CBDC Digital Fiat WARNING BELLS GOING OFF
by grarpamp 30 Nov '23

30 Nov '23

Lol. For those that still foolishly worship Politicians GovBank and generally still have their head in the sand... 1984 warnings are everywhere, just say NO to Digital Fiats and CBDCs. Say NO, right now. Countdown To Governments Default https://economicprism.com/countdown-to-u-s-government-default/ https://www.nakedcapitalism.com/2022/03/the-world-quietly-took-another-step… https://www.youtube.com/watch?v=VYOEvurCVuk https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/ex… https://www.federalreserve.gov/publications/files/money-and-payments-202201… Central Bank Digital Currencies (CBDC) are coming. And they’re coming much faster than most people care to think about. Are you ready? At the moment, roughly 90 central banks – including the European Central Banks and the Federal Reserve – are either experimenting with, or are in varying stages of CBDC implementation. Moreover, these CBDC friendly central banks include all G20 economies. And together, represent more than 90 percent of global GDP. What’s important to understand is the adoption of a CBDC in your country of residence would accompany the abolition of cash. This would be for your own good, of course. To eliminate nefarious transactions and black markets. If you value financial privacy and the liberty to spend your money as you please, then the rapidly approaching rollout of CBDCs is a major red flag. Compulsory use of a CBDC, like a digital dollar for example, would give central planners complete oversight and control over your finances. You see, under a CBDC regime – free of cash – all of your transactions would be subject to government surveillance. All remnants of financial freedom, privacy, and anonymity would be destroyed. But that’s not all… CBDCs would allow control freak, power mad central planners to do much more than spy and surveil your financial transactions. CBDCs would allow them to control how and when you spend your money. This may sound crazy to a sane person, who operates with a modicum of modesty and integrity. But, in truth, this is one of the main intents of CBDCs. In fact, several years ago Bank for International Settlements General Manager Agustin Carstens outlined the extraordinary powers CBDCs would afford central planners. Here are the particulars from Carstens himself: “There is a huge difference [between CBDC and cash]. For example, with cash we don’t know who’s using a 100 dollar bill today. We don’t know who’s using a 1,000 peso bill today. A key difference with the CBDC is the central bank will have absolute control under rules and regulations that will determine the use of that expression of central bank liability, and we will have the technology to enforce that.” Do you get it? The central planners want absolute control over how you spend your money. This includes the U.S. government too… Traceable And Programmable On March 9, the Biden administration released an executive order (EO) requiring several federal agencies to study digital currencies and to identify ways to regulate them. A big part of the EO is focused on blockchain based cryptocurrencies like bitcoin and ethereum. However, within the EO, Biden also directs the federal government and Federal Reserve to lay the foundation for a potential new U.S. currency, a CBDC – perhaps, a digital dollar. Specifically, the EO directs the U.S. Treasury, and other federal agencies, to study the development of the new CBDC and report back within 180 days of the potential risks and benefits of a digital dollar. The EO also directs the Treasury Department, Office of the Attorney General and Federal Reserve to produce a ‘legislative proposal’ to create a digital currency within 210 days, about seven months. The digital dollar is coming, and it’s coming quick. To be clear, the adoption of a digital dollar by the U.S. government, as Biden intends, would be one of the greatest expansions of federal power ever made. The digital dollar would be much different than a digital version of the existing U.S. dollar. It would also be much different than cryptocurrencies like bitcoin and ethereum, which are decentralized. Digital dollars would be traceable and programmable. The Federal Reserve, or some other government agency, would have the ability to create digital dollars at whim. Moreover, the digital dollars could be programmed to have various rules and restrictions governing how and when they are spent. Earlier this year, in Federal Reserve published report about the development of a CBDC, the Fed provided examples of possible ‘design choices’ for a digital dollar, including that “a central bank might limit the amount of CBDC an end user could hold.” Biden’s EO plan for a digital dollar also includes design choices that will give the federal government total control over financial freedom and the economy. The EO even states the CBDC and other policies governing digital assets must mitigate “climate change and pollution” and promote “financial inclusion and equity.” This is a major focus. >From this, we can speculate that financial inclusion and equity means wealth redistribution. And climate change mitigation means restrictions to fossil-fuel use. These, and other government dictates, like the direct subtraction of taxes and fees from your account, would be programmed into the digital dollar. Why now… Blowback U.S. and European Union sanctions against Russia, including cutting Russian financial institutions off from SWIFT and preventing the Russian Central Banks from using its foreign currency reserves, may prove to be a strategic blunder. The blowback potential is real, and is already happening. Europe, which depends on Russia for 40 percent of its natural gas, is now reaping the whirlwind. According to Bloomberg, Putin has signed a decree demanding payment in rubles for Russian gas supplies starting April 1 (today). Will Europe submit? There are rumors European nations are already covertly buying rubles. The ruble’s increase on the foreign exchange market to pre-invasion levels certainly hints something is in the works. Regardless, the U.S. is losing control over the international financial and payment system. By freezing Russia out SWIFT, Putin is being forced to look for other alternatives. Specifically, China has been developing its own Cross-Border Interbank Payment System (CIPS) as an alternative to SWIFT. Sanctions against Russia may further accelerate the use and adoption of CIPS by nations that are opposed to western influence. Cryptocurrencies and blockchain technology also offer banks and individuals ways to move payments without using dollars or SWIFT. The very success of the weaponization of the legacy financial system by the U.S. and Europe is driving Russia and others into such alternatives. Hence, fewer international transactions in dollars could undermine the dollar’s reserve currency status. This would have serious implications for the U.S. economy, as the dollar would likely suffer a significant devaluation. In the U.S. consumer price inflation (official) is already at a 40 year high. Unofficially, it’s higher than it has been in over 100 years. Between the financial war being waged, raging consumer price inflation, a $30 trillion national debt, trillion dollar deficits, and unfunded liabilities running into the hundreds of trillions, something’s got to give… …namely, the U.S. dollar. Countdown to U.S. Government Default The popular American myth is that the U.S. government has never defaulted on its debt. Quite frankly, that’s unadulterated hogwash. The U.S. government has (unofficially) defaulted on its debt twice within the last hundred years. Executive Order 6102 of 1933, which forced all American citizens to turn in gold coins and bars, was, in fact, a default. Gold ownership in the United States, with some small limitations, was illegal for the next 40 years. Under EO 6102, Americans were compensated $20.67 per troy ounce of gold. They were paid with paper dollars. Immediately following the government’s gold confiscation, the price of gold was raised by the Gold Reserve Act of 1934 to $35 per ounce. Just like that, American citizens were robbed of over 40 percent of their wealth. The second default occurred in 1971, when President Nixon “temporarily” suspended the convertibility of the dollar into gold. Prior to 1971, as determined by the Bretton Woods international monetary system, which was agreed to in Bretton Woods, New Hampshire, in July 1944, a foreign bank could exchange $35 with the U.S. Treasury for one troy ounce of gold. After the U.S. reneged on this established exchange rate, when foreign banks handed the U.S. Treasury $35, they received $35 in exchange. In both instances, the U.S. government didn’t overtly default on the debt. Instead, it changed the fundamentals – the terms and conditions – of the dollar. By all honest accounts, these are defaults. Similarly, the issuance of a digital dollar (a Fed issued CBDC), which is traceable and programmable, changes the terms and conditions of the cash dollar. Make no mistake. This is a default…and you won’t like it. Moreover, per Biden’s EO, this default could happen as soon as T-minus 210 days from March 9 – or as soon as October 4th. If that doesn’t give you a warm and fuzzy, we don’t know what will.

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