Cryptocurrencies

Former ECB President slams dollar and Bitcoin – Cryptocurrencies

Joe Biden surrounds himself with a Bitcoin (BTC) pessimist

The former president of the ECB, Jean-Claude Trichet, who is now the president of the Trilateral Commission (Europe branch), has stepped down from his Olympus like every year. Between fakes news, the eternal chorus on debt and a missile addressed to the dollar, the banker unsurprisingly drew on Bitcoin (BTC).

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Who is Jean-Claude Trichet and what is the Trilateral Commission?

“The Trilateral Commission is a private organization created in 1973 on the initiative of the main leaders of the Bilderberg group and the Council on Foreign Relations (Cfr), including David Rockefeller, Henry Kissinger and Zbigniew Brzezinski. It brings together 300 to 400 of the most influential figures in Western Europe, the United States and Japan. Like the Bilderberg group, it is a group that supports globalism. “

Wikipedia

Bilderberg (European) and Cfr (American) are globalist temples where the powerful meet to to consult and forge an imperialist consensus on the way the world works, far from the polls … The bank, oil, media conglomerates, Big Pharma, Big Tech, armaments, consumption and of course politicians can be found in these “think tanks” where it is refined the ideology which will be transposed into the doctrines of international organizations like NATO, EU, IMF, International Court of Justice, Bank for International Settlements and others.

A sort of antechamber to globalized power, the CFR was created by Paul Warburg, the very one who created the American central bank (FED). Its members are considered the high priests of US imperialist foreign policy. Today we find celebrities such as the Clintons, Soros, Bush, Kissinger, Yellen (former president of the Fed and future Secretary of the US Treasury), Lloyd Blankfein (Goldman Sachs) and Rupert Murdoch (owner of a media conglomerate). , including Fox News), etc.

“The CFR is the closest thing to a ruling elite in the United States. “

Richard Harwood editor-in-chief of the Washington Post (the equivalent of Le Monde in France)

And it’s Jean-Claude Trichet who is the European representative of this Trilateral Commission.

But not only. He is also a prominent member of the G30, established in 1978 and chaired by Jacob Frenkel (JP Morgan). There are mainly former central bankers (Volcker, Bernanke, Draghi, Kuroda, Yellen), private bankers and some economists like Rogoff (IMF, Harvard) or Krugman. An extremely small circle where the crème de la crème of counterfeiters is found. The very people who pleaded relentlessly for the self-regulation of banks and who are therefore 1000 times responsible for the 2008 crisis …

You will find more information on all of this in my book, Anthropocene slaves :

The slaves of the anthropocene, Nicolas Teterel, book

Trichet’s forecast

Before coming to the projections against the Bitcoin, note that the honorary governor of the Bank of France forecasts a growth of 7% of the GDP in 2021 after a drop of 10% in 2020 …

These figures suggest that France “will regain its level of GDP of 2019 only in the summer of 2022”, he argues before agreeing to the journalist’s soup who emphasizes that these figures do “not take into account the irruption of a variant of Covid apparently more contagious in England ”…

Comes next the thorny issue of debt that does not really make the guest smile. In essence, JCT tells us that “advanced countries can get into debt because they suck savings from the rest of the world” …

Let us complete these statements by recalling that this good fortune is linked to the fact that the euro and the dollar are by far the main international reserve currencies (60% for the dollar and 20% for the euro). A situation of course not fortuitous, and which results from the fact that the countries producing raw materials and energy are forced to sell them in these currencies, a gun to the temple …

But that developing countries be reassured since JCT advises them ” to accept IMF loans », The armed wing of Western liberalism …

We were also treated to the vile comparison with Germany: “While French and German had the same debt / GDP ratio of 65% in 2007, it is now 75% for Germany but 120% for France“.

Yes, but Germany’s debt would be the same as that of its European counterparts if the latter did not go into debt for it. Indeed, the debts of each other are in truth communicating vessels within the same monetary zone.

Making people feel guilty by making them believe they are responsible for this debt is the job of the banker. This false dishonor is their big carrot which they use to justify social breakdown and rampant privatization. Isn’t that Bruno the Mayor?

A slap for the greenback

Still on the subject of debt, JCT sliced ​​up a nice Fake News by arguing that the Fed and the Japanese central bank had both bought 45% of the public debt. If this is true for Japan, it is absolutely false for the FED, which has so far bought “only” $ 4.7 trillion in debt through QE. That is 17% of the public debt which is 27,000 billion.

This lie was intended to make the Euro shine before dropping its bomb:

“I don’t worry about the American economy. She just has to know someday or another that the rest of the world can’t fund her indefinitely. “

Jean-Claude Trichet

This is almost a declaration of war. In any case, this is certainly how Fed President Jerome Powell will feel …

But does the Euro Zone really have the means for this boast? No, since the ECB has bought back nearly 30% of the debt of the Euro Zone, which is almost twice as much as the FED!

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In 2020, the ECB even bought back 70% of all the new debt issued by France …

How much longer will the Germans agree to work to pay unemployment benefits for Spaniards, Italians, Greeks, and all those countries whose economies cannot put up with a strong euro?

The dollar may be at the mercy of secession, but it is written that sooner or later the Euro will be shattered …

In short, Jean-Claude just seems to indicate nothing that the dollar will certainly continue to depreciate in 2021. Blessed bread for Bitcoin which intends to dethrone the dollar as an international reserve currency. We’re getting there, patience.

Bitcoin international reserve currency

The real estate bubble

Trichet took the nerve to show himself satisfied with the latest measures taken by the state concerning mortgage loans …

As a reminder, from this year:

  • The maximum duration of credits increases to 25 years to 27 years
  • The maximum debt ratio goes from 33% to 35% (monthly reimbursement / salary ratio)
  • The banks will have the right to deviate from these criteria in 20% of cases against 15% in 2020 …

It’s this headlong rush that pushes mechanically real estate prices on the rise and which condemn new generations to debt slavery.

In the 1930s in England, the price of a typical three-room house was only 1.5 times the average annual salary. Then 3.6 times in 1997 and 8 times in 2017. We are now above 12 for London… This is where the impoverishment of the masses comes from.

By the way, house price inflation is not counted in the INSEE inflation figures. Now you understand why it rings false when the media tells you there is no inflation …

The two great golden rules for home loans should be:

  • Fixing of a maximum duration of immutable loans
  • Setting a maximum immutable debt rate

We could also limit access to mortgage loans for the main house only and not for second homes.

But they won’t because the debt-based fiat money creation system needs a constant increase in the amount of money in circulation. However, 60% of all money in circulation in the economy originally comes from home loans. CQFD

Trichet needs this constant increase in the quantity of money because it is this inflation that allows the debt to GDP ratios to decrease. To put it another way, Trichet wants to slash our purchasing power to prevent the debt bubble from bursting.

And it is this inflation that Bitcoin feeds on …

What is the opinion of banker Trichet on Bitcoin?

“He is a bit of an iconic illustration of a certain contemporary madness. Bitcoin is nothing at all except its rarity. It happens to be a speculative instrument like gold […]. He has the ambition, it seems, to achieve the capitalization of gold. All this for an instrument that is not a currency. You have no change when the conservation of value is completely forgotten. For Aristotle, a good currency is a good instrument of account, a good instrument of exchange and a good instrument of value preservation. “

Jean-ClAude Trichet

They don’t know what to say anymore. The Bitcoin, since its creation (12 years ago), has appreciated on average more than 200% per year. Talk about conservation of value !! When BTC is worth as much as gold, then a single BTC will be worth half a million dollars, or possibly more.

“For me, this is extremely serious, it is an instrument that is used for the financing of terrorism, for organized crime. I find it incredible that instruments of this nature have been allowed to flourish and grow. Unbelievable. All regulators need to take bitcoin seriously. “

Jean-Claude Trichet

It is the hospital that laughs at Jean-Claude charity … We will remember this jealous bad faith that the Bitcoin is now “Too Big to Ban”.

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The interview ends with a last banana peel thrown at the Americans by slipping that the exuberant capitalizations of certain American companies are reminiscent of the Dotcom bubble … #Tesla

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