Bitcoin Revolution The Next Internet, Says Bank Of England

The arrival of electronic currencies could revolutionise the way Britons pay for goods and services, in much the same way as the internet shook up how we access information, the Bank of England has said.

Cashless forms of payment like the cryptocurrency Bitcoin “potentially combined with mobile technology, may reshape the mechanisms for making secure payments”, the central bank said.

While traditional currencies, including the pound, are backed by central banks, new alternatives have allowed individuals to exchange directly without any such third party.

The Bank could itself create digital currencies, making the new system available as it does with banknotes today. Research would be necessary to develop the technology “without compromising a central bank’s ability to control its currency and secure the system against systemic attack”, the Bank said.

The idea of countries launching their own electronic currencies has gained pace in recent weeks, as Yanis Varoufakis became Greece’s newest finance minister. The Greek-born economist has previously suggested that “the technology of Bitcoin, if suitably adapted, can be employed profitably in the eurozone as a weapon against deflation”….

By Peter Spence – The Telegraph –

[ONLY WAY Editor: Check out our “WAMPUM” cryptocurrency page]

History of Money and Usury in America

….[W]e are being taken for a ride, laboring for little or no return by a band of international criminals through our elected officials and educators. The process of how they pull this off keeping the vast majority in the dark as to how they do it requires us to learn some economics terminology. As a rule, this is a vapid study ; but by condensing the fundamentals of money creation, the entire subject can become understandable to anyone.

We could drive the moneychangers out of the temple now ; but
which school of thinking would we replace them with when they
are removed? Do we have a clear enough vision that would
enable us to institute an alternative that will work for the common
good? Attempts have been made to throw the moneychangers out
of the temple several times in American history ; but the
objectives were unobtainable without first considering that usury
is at the root of their power ; and consequently it has always
ended with the evil side winning. To win, it will be necessary to
be as strong-willed as Andrew Jackson was during the ‘Bank
Wars’ of the 1830s when he vetoed legislation to renew the
Second Bank of the United States. The assassination attempt on
his life was thwarted. But two other presidents whose
administrations denied the bankers their pound of flesh in usury
on money creations did not survive. So this battle with bankers over usury has always turned sanguinary. Educating a critical
mass of the population will be a necessary component in this
conflict ; so we must first learn all about the disease before
entering the struggle to implement the only correct cure.

Money and Usury….

Most money is created as interest bearing debt by banks and has
been for well over three hundred years. When the Federal Reserve Act was passed giving ownership of a new banking institution known as the Federal Reserve to a privately owned cartel of international bankers, Congress transferred its constitutional authority to create our money to this privately owned corporation. Proof that this authority belongs to Congress is presented further on in this paper. Several forms of money in use are as follows:

Coins are minted by the United States government. Our government pays no interest to anyone for Coins. They are stamped and dated at various US Mint locations and released into the currency stream at authorized Fed member banks, including credit unions that are also licensed to operate as banking functionaries. Coins make up an insignificant amount of the M1 money supply; and they are legal tender for all debts, public and private. [1]

Paper currency (presently Federal Reserve Notes) is also legal
tender. Paper currency has been around since Colonial times in
America. The Chinese printed paper currency during the 11th
century. Bank notes as paper currency were common during mid
19th century America. They were redeemable for specie (gold coin) at private banks. At various other times public paper currency has circulated under different names. Gold backed
paper currency was in use in America prior to and at the
beginning of the Federal Reserve until 1933 when FDR took
America off the gold standard. It was from then on no longer
possible for individual Americans to demand gold (specie) in
return for their paper currency.
But with all these technical distinctions that the various forms
money have taken on, it is imperative to understand that all of
them constitute the means by which people are able to rid
themselves of a primitive barter system. [2]

There is nothing inherently evil in using money as a medium of
exchange ; but the way in which money is presently created
guarantees that all people will continue to remain under high
finance’s debt oppression. The parasites of high finance have used one tool exclusively to feed their insatiable appetites for more and more money: it is usury in money creation. Money, to the parasites, has consequently become a fungible rather than what it simply should be: a medium of exchange. We shall explore this line of reasoning further in this essay.


The purveyors of gold backed money (formerly called gold
brokers [3]) are still with us. Their hue and cry is forever against the use of unbacked paper currency. They call it fiat money. [4]

One web site where anyone can read their gold propaganda is at . Active educators and elected
officials involved in this web site should be well known by all.
Two of them are Gary North and Ron Paul. Fiat money to these
two is a derogatory term. We should always be alert to their advertising devices. North’s twisting of the plain intent on usury that the Bible teaches leads unsophisticated Christians into believing false paradigms….

By Daniel S. Krynicki – Breaking All The Rules –