June 22, 2012

In this new conversation, Janell asks about the latest in monetary currency, a “digital” currency called “Bitcoin,” and how this might relate to what we have written about before concerning a coming realm of stewardship salvation, including a new economy and medium of exchange (“money”) which I have called “Glorex.” The article on Bitcoin Janell links to is reproduced in full at the very bottom after my response if you care to read it.
 
My response is a larger picture discussion of the two basic factors of money (substance and control), how they are at the heart of the conflict between true and false money, and a brief comparison of how Bitcoin and Glorex relate to them. One point of understanding you especially want to take home from this discussion is the difference between illegal counterfeiting and “legal counterfeiting.” The oxymoronic concept of legal counterfeiting is at the core of today’s western debt crisis and is the principle on which the beast monetary system is constructed. 
 
Hopefully, you will find these concepts profitable in helping to understand the “mechanics” behind the problems with money as we know it, all as we anticipate deliverance from the current system. 
 
Chris Anderson
http://www.firstloveministry.org
 
 
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From: Janell [Texas]
Sent: Tuesday, June 19, 2012 11:23 AM
To: littleflock@netzero.net
Subject: Articles
 
Hello Chris,
 
… I came across an article yesterday on AOL.com that took me back to your writing on Stewardship Salvation.  Thought you might have some insight.  The link is:
 
www.dailyfinance.com/2012/06/18/bitcoins-euro-europe-safe-haven-currency/
 
Could this be another counterfeit monetary system foreshadowing the new glory currency?  Just some thoughts.
 
Blessings to all the Anderson family from all the Dodd farm family,
Janell
 
 [quoting from Stewardship Salvation:]
 
“Glorex” and the Incipient Manifest Kingdom Economy

Out of the revelation that attends the next dimension of salvation will come the blueprints for the economy of the manifest Kingdom Age. The Lord will be imparting to all His “saved stewards” the wisdom secrets of eternal life by which Kingdom economy is to be administered. As written earlier, this revelation will already be in process of impartation during the final manifestation of the beast system. (It must also be made clear, that this new revelation will not be based in the old Torah, as many in the Messianic communities teach, but will be of that yet unseen superior class of revelation accompanying the next revelation of Christ.)
 
The Lord will also be revealing a new medium of exchange in the earth that will replace money as we know it. This new medium will consist of the substance of the glory of God—the same substance satan sought to counterfeit in the heavenly trade war before he was cast out, and which formed his basis for establishing a counterfeit fiat monetary system in the earth to the present.
 
The new glory currency (which I refer to as “glorex”) will be transnational in scope. In the coming economy, gold and silver will not have the place they have historically had as mediums of exchange prior to the Lord’s second coming, though there will still be some use for them as the earth’s remaining mortal peoples develop in their economic understanding of the kingdom.
 
 
 
________________________________________
From: littleflock
Sent: Wednesday, June 20, 2012 12:46 AM
To:
Subject: RE: Articles
 
Thanks for your thoughts Janell. Nice to hear from you after such a time.
 
I was just recently introduced to the Bitcoin concept. This has been the latest among various attempts over the years by different parties to introduce alternative currencies free from the fiat banking system.  Here are my thoughts:
 
We know that because the “whole world lies in the power of the evil one,” no humanly apprehendable currency system is safe from satanic take over, no matter how good the intentions of the initiators to invent a system that corrects the evils of another system. No matter the humanly administrated monetary system, it will ultimately be governed by the love of money under sin, hence controlled by the evil one via a satanically “elect” class of people (portrayed scripturally in the form of the dragon and the beast).
 
Two questions have always been at issue regarding the creation and administration of any monetary system. They are:
 
1.     Of what substance is the medium of exchange?  (Meaning, how susceptible to counterfeiting and debauchery is the medium?)

2.     Who controls its issue? (Meaning, what is the capacity of the issuer to preserve the medium for the good of the people, or to pervert the medium for their own gain at the expense of the people?)
 
In answer to the first question on substance, the further from hard substance a medium is found, the easier to counterfeit and debauch it. God put metals in the earth intrinsically recognizable by man as “precious metals” to serve as such a medium. It is more difficult to counterfeit or debauch metals like gold and silver, than it is say with wood—though it has nevertheless been done.

Eventually during the Middle Ages and ever since, paper scrip came to substitute for metals, leading to the fiat system we have now. It is much easier to counterfeit and debauch paper than metal. And the “securities” crisis among the supposedly legitimate guardians of the paper system is the ultimate proof of that.
 
But in the last generation, paper has given way to electronic accounting, meaning the transferring of nothing more than cyber data. You can see in this progression from metal to paper to cyber data the increased potential and susceptibility to counterfeiting and debauchery (something like moving from solid, to liquid to gas). The article on Bitcoin only pays token acknowledgement of this regarding hacking.

The truth is however, regardless of hacking, it is nothing for anyone who is even in legitimate control of cyber currency to multiply it or shrink it at will, to add digits or erase them. This is what is already being done in the fiat system which now relies heavily on electronic transfer in conjunction with paper.  How easy do they want to make it?

And all this of course is to say nothing of what happens when the electric grid goes down and there is no electricity suddenly for any reason whatsoever for any period of time. How easy would that be to crash an entire national or world economy based on cyber currency?
 
&&&&&&&
 
In answer to the second question on control, there are only two possibilities. The currency can be issued and regulated by a public body that is publicly accountable to the people of the economy. Or it can be issued and regulated by a privately owned and controlled body, corporation, consortium or family. The more publicly owned and accountable the body, the greater the capacity for preservation of the integrity of the medium for the good of the people of the economy. Conversely, the more privately owned and secretly accountable the body, the greater the capacity for perverting the medium for their own gain at the expense of the people of the economy.
 
During the Middle Ages and the development of the fiat system, issuance and control of money came to be vested in the hands of private banking families and lineages forming what became known as the European “central banking” system, tied directly to the governments of the nations whose economies they came to possess and control. These families have been the satanic “elect.” And everything they have ever done has been to “counterfeit” and “debauch” their own currency in the form of what is called “fractional reserve” banking, with the ultimate goal of controlling all of the real estate and labor of the whole earth.
 
By contrast, when the United States was founded, the framers of the U.S. Constitution, fully aware of the private European system, recognized the need for the issuance and control of the national currency to be in the hands of the most publicly accountable body possible, namely, the government itself. They also recognized the importance of hard substance to serve as that medium (i.e., gold and silver) and so they wrote all this into the Constitution.

But nevertheless, we know what happened.  Through perpetual interference and outside manipulation by the private banking families of Europe from the beginning of the country, the United States finally gave in to give issuance and control of its currency system into their hands through the Federal Reserve Act of 1913. So to this day, the United States operates under a fiat system controlled by a private consortium called the Federal Reserve Bank which offers a sham “color” of accountability to Congress through occasional polite “interviews” of the “fed chairman” but which in actuality has never been audited and calls all the shots.

And it is to this made-out-of-thin-air non-accountable Federal Reserve Board that—just as in every other country—an unpayable made-out-of-thin-air “national debt” is owed and which—unknown to most—has since 1933 resulted in the collateralizing of the entire land mass and labor pool—present and future—of the people of the United States against said “debt.” And now, even despite all of the collateralization of the people’s lives and property, the system has so skyrocketed out of control that it has been on the brink of total collapse since 2008. It’s a wonder that it is still being held together.
 
But the point here is about Bitcoin. The question is, who owns Bitcoin? Is it a publicly owned and accountable body to the people of the economy it services? Or is it a private corporation of unknowns? I think the answer is obvious. It is private and governmentally non- accountable.

Therefore, as an alternative to the “fiat” system of the central banks and Federal Reserve currency systems, it is not a true alternative. Whoever owns it has no accountability, not even a color of accountability to any public government—for what and how they handle their electronic digits. They are just as capable of inflating or depressing them, counterfeiting or stealing them against the people who use the system—as the central banks have always done. And seeing it is based ONLY on electronic digits, it is to be totally suspect.

Bitcoin may in fact be nothing more than the next iteration of the satanic elect waiting in the wings to take over world economy on a universal cross-national basis, providing a truly one world currency, advantaging itself of the failures of its own current iteration through the central banking systems still tied to paper and the color of accountability to public governments. Think about it.
 
A side comment for reinforced clarity is needed. Simply, the counterfeiting and debauching of currency is not done only by those outside of its creation and control. It is done by those on the inside of its creation and control. The creation of new money of any kind unhitched to any hard standard IS counterfeiting.

The public does not understand this. The people do not understand this. If I create money out of nothing in copy of the Federal Reserve it is called counterfeiting. If the Federal Reserve copies its own money out of nothing it is called “hypothecating” and “fractional reserve lending.”  It’s simply a matter of fact that a private “banking class” has the unequal right to do with currency what the people of the land have no right to do with currency.

But no one questions it because the body performing the counterfeiting against its own currency is accorded the color of “governmental legitimacy.” This is the grand deception that is upon all the nations referred to in Revelation 20:3. And unfortunately, God’s people among the nations are hardly any wiser to it than the rest of the ignorant public school trained populace.
 
&&&&&&&&&&
 
My closing comment comes back to “Glorex” and stewardship salvation which you cited [above]. The coming new economy in Christ will defeat the handicaps raised by the questions of substance and control of currency. Glorex is a substance that simply cannot be counterfeited or debauched. And the issuance and control of it will belong only to those whose hearts cannot be bought or sold by the love of money.

The stewardship for Glorex will not belong to a private consortium or even to a public government. It will belong to a tried, tested and proven priesthood of believers in Christ within the construct of the kingdom of God who have no other possible interest but to meet the needs of the people of the national economies that they will be servicing. Now how simple is that? (Unthinkable, I know. But that’s how it will be! Hallelujah!)
 
Let these thoughts help build an increased perspective on where He is trying to take us all next in salvation.
 
Many blessings to all of you there at the J-D Ranch from all of us here.
 
Chris A.

_____________________________

www.dailyfinance.com/2012/06/18/bitcoins-euro-europe-safe-haven-currency/

Are Bitcoins Becoming Europe's New Safe Haven Currency?

By Ross Kenneth Urken

Posted 1:23PM 06/18/12

"What the euro crisis and possible breakdown does is make people think about alternative [currencies] that can be used to maintain business and that cannot be manipulated by any central organization whatsoever," he told DailyFinance.

And Bitcoin, as unorthodox as it may sound, was created in 2009 to be just such an alternative.

It's not so surprising that a growing number of Europeans whose countries are in dire fiscal straits are moving their money from banks to Bitcoins. The eurozone is in end-of-times pandemonium over its debt crises; Greece is starring in its own economic tragicomedy; and Spain is scrambling for a major bailout. And just last week, the euro overtook the British pound as the second-most common currency that bitcoins are traded against (after the U.S. dollar, which has 72% of the market thanks to its large community of early adopters).

Euro hit 9% of the Bitcoin market thanks to an uptick in buyers from Greece, Italy, Spain and the Netherlands, according to Charlie Shrem, CEO of BitInstant, a New York company that allows clients to move money between Bitcoin and other currencies. Shrem's firm attributes the recent rise in euros exchanged for bitcoins to the worsening crisis in Europe and people seeking financial asylum in digital form.

As reports increase that the European banking system is evaporating into the ether, will people increasingly find it high time to bank in the cloud.

Is Bitcoin a Panacea For the Euro's Woes?

Quite simply, Bitcoins are an encrypted digital currency that can be freely exchanged between people or between consumers and merchants. Businesses like Bitcoin because it allows them to avoid paying credit card fees of up to 3% on transactions. Consumers get to dodge the costs normally associated with currency exchanges. It's only available for use in a handful of physical locations in cities around the world (it's mostly used via Internet), but a major use for it has been for conversions -- you can buy Bitcoins and then exchange them for another currency at no charge.

Bitcoin is in some senses a financial island removed from the vicissitudes and consequences of a traditional banking system. It's neither controlled by central banks nor governments, and thus not vulnerable to larger-scale shifts like changing interest rates or the rampant inflation of countries in decline.

But Bitcoin's isolation from geopolitical turmoil has been its true selling point for those in Europe.

"I have Greek friends who fear that Greece will drop out of the euro, and all of their money will be converted to the drachma," Shrem said. "And then even a cup of coffee would get pretty expensive for them, because inflation will skyrocket like what we saw in Zimbabwe."

Bitcoin was trading at about $5.26 in on Jan. 1, and bolstered by fears about the euro, its value had risen 19% to $6.28 on Monday. The euro, by contrast, dropped from $1.29 on January 1 to around $1.25, a 3% decline. In fact, Bitcoin performed better than any major asset class in the world in 2011, up 1,700%.

Jon Matonis, a Bitcoin consultant and digital currency specialist, believes moving toward Bitcoin is a smart strategy, advocating any exit from fiat currencies as a step in the right direction.

"It's like musical chairs," he said, "And when the music stops playing, the mad rush out of fiat will begin because a 'paper' con game can turn on a dime." That uncertainty in the value of a fiat currency, especially in the euro, stands in contrast to Bitcoin, which Matonis describes as "an open-source neutral method of going from paper euros to a nonpolitical unit of value in electronic form."

The Risks in Bits

But is a digital currency safe? Hackers have tapped into Bitcoin exchanges, exacerbating fears that the fully-online currency might not be such a sure bet.

Last June, Mount Gox, a major Bitcoin exchange, was compromised, and a cyber attack this May against the Bitcoin exchange Bitcoinica resulted in 18,000 stolen bitcoins (about $90,000). These events have further reinforced some security experts' preference for traditional banking, according to Marc Vael, director of the Information Systems Audit and Control Association: Even though the eurozone is experiencing turbulent times, all EU governments guarantee banks deposits and savings accounts for up to 100,000 euros.

"The existing banking system, including online banking possibilities, still protects citizens even when money gets stolen out of their account," Vael said. "Keeping money under EU-regulated financial institutions is the safest option for EU citizens."

But as the euro's problems deepen, people are putting less faith in it, and hoping the security technology of Bitcoin exchanges is enough.

"It's as safe as the cryptography," Matonis said. "And the cryptography has been peer-reviewed, and it currently enjoys the mathematical trust of the cryptography community."

"These individuals moving their value from euros to Bitcoin are trusting the cryptographic algorithms," Matonis said. "If they store the private keys themselves, then they do not even have to trust a third-party entity."

The Future of Bitcoin

Though Matonis believes that traditional banking is "in decline" and that Bitcoin possesses important advantages for Europeans at the moment, the digital currency hasn't necessarily proven itself as a fully universal platform.

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First Love Ministry
- a ministry of Anglemar Fellowship
http://www.firstloveministry.org

06/12