Monday, March 19, 2018

Forget Bitcoin Beware the USC

‘Utility Settlement Coin’ Emerging As Bankster’s Cryptocurrency

UBS, BNY Mellon, Deutsche Bank, Santander, the market operator ICAP, and the startup Clearmatics formed an alliance in 2016 to explore the use of digital currency between financial institutions and central banks, using blockchain.
The ultimate goal of the project is to create a digital currency known as Utility Settlement Coin (USC), which will facilitate payment and settlement for institutional financial markets.

A transnational currency controlled by the banks. Eh, what's the problem?  More at Technocracy News.
 

112 comments:

Unknown said...

Now we can "currency bomb" a small nation and it won't even be traceable. Think Russian kleptocracy can store its capitol in Cypress, worry free from IMF asset seizure and destroy the Cypress economy by injecting massive currency velocity into the tiny economy. Transfer those funds to the Middle Eastern "freedom fighter" without any trace of who it's coming from or going to. While they are at it, transfer funds to BOTH SIDES of the conflict, because the chaos allows you to steal more while everyone is distracted. I dunno, what could go wrong?

Rob Dawg said...

Off topic:
https://www.bbc.com/news/amp/business-43008430

Under the plan, Mr Musk could receive stock awards worth an estimated $2.6bn - among the largest in US history.

Firemane said...

Crypto-currencies are the wave of the future. It's just a logical next step in technology. It's not like they're a less substantial item to base your economic future on than say ... tulip bulbs.

... oh, wait ...


LBD said...

TESLA looks more like a Con man with continuing promises and can't deliver. Chevy Bolt with modest sales is increasing to 2 shifts as sales increase. Musk over promises and under delivers. It should be a $10 stock.

Rob Dawg said...

Why isn't selling $200k autos for $100k and $100k for $50k a formula for success?

Unknown said...

Also, trying to ramp up production based on rare earth materials beyond what the mines can supply has resulted in increased costs and long production delays who coulda knowed?

LBD said...

Toyota may have a solid state battery car in 2020. If the chatter is true then Musk will be selling model A electric cars.

Rob Dawg said...

The modularity of the Tesla design would allow them to swap in SSBs as a trivial upgrade.

Tesla will be the Dusenberg of the electric vehicle age.

LBD said...

I see the tech world as tomorrow is today, today is tomorrow's yesterday. TESLA bet the farm with solar city and their own battery plant. Baggage takes them down, their hour has passed unsuccessfully. IMO.

TJandTheBear said...

The rare earths supply and lack of sufficient electrical infrastructure are both issues that'll plague EVs for years to come. Not to mention Mazda will start delivering compression-ignition gas engines in 2019.

LBD said...

Mazda's concept is very interesting. Others have researched this and walked away but they have not bet on EV's. Still lots of room from the piston engine.

dilbert dogbert said...

As we are talk'n cars. Have yous guys seen the story about the driverless car that killed a pedestrian down in Phonynex?

LBD said...

DD, Yes they are pushing to hard. Prove them on the long haul hwy first. I hear there was a person in the car in event of a failure. I wonder what happened, was it to fast to respond to or did the person become to confident and was not paying attention. Anyway a big set back. IMO

Rob Dawg said...

Autonomous vehicles are getting better faster than anyone expected. Well almost anyone. Thing is you don’t know what you don’t know until something goes wrong. The safety record will be so much better than human so quickly it will not be an issue.

dilbert dogbert said...

The safety record improvement will require all cars be driverless. Cars with drivers are just to unpredictable.

Lawyerliz said...

What's that?

Lawyerliz said...

Nobody wants to speculate about C. Analytics?

Lawyerliz said...

I like cars that a comfy, get you from one place to another reliably, pretty. Can accelerate
Nicely easy to repair and don't use too much gas. Drones this prove I'm a simply girrtll?

Lawyerliz said...

Does. Damn you etc.

LBD said...

Good Morning!

Same old question, how does this help the Banks. I don't really get the concept and haven't researched it.

Cars are way more reliable then they where 50 years ago. Life then 100K miles and now 250K miles, cost are cheaper over the whole life span. Electronics shorten the life span if any thing. Oil and fuel injection, metallurgy are the main factors. IMO.

Lawyerliz said...

I met got on any social media and regarded myself as old fashioned and just plain old and excessively paranoid. But I never got around to it. Well, I guess my paranoia was justified. I was reading the actresses talking Bout Weinstein. At about the 20th one, I got bored and scrolled down, and there were lots more.

Lawyerliz said...

I never got. .

Unknown said...

How does this help the banks? More expensive cars are bigger loans. Fewer accidents are fewer insurance claims. The claims that happen can seek compensation from the deeper pockets of the car manufacturer. Somehow I think the banks will be just fine.

LBD said...

If I where a car manufacture I would highly note they meet or exceed the safety standards compared to other accepted modes of transportation, like motorcycles, scooters and bicycles. Safety is more in the hands of the operator. Most people don't know how to drive and what to expect in emergency situations. They also can't even change a flat tire anymore according to the brain wash insurance ad currently running on the tube. My girls changed flat tires on dates quite some time ago. Many big law suits and wrong. It's a game of chance not thinking.

PS GM key/ignition is an exceptable case. Ignoring or hiding evidence compounded by non thinking people.

The lady killed yesterday was homeless which brings into focus her condition and possible contribution to the event.IMO

Firemane said...

Trying to predict the twists and turns of new technology adoption has proven to be a losing proposition.

Who invested in 8-tracks?
How about BETA vs. VHS?
Anyone ever own a laser disc player?
How about mini-discs?
Palm Pilot?
And before lauding the Volt and dissing Tesla, let's not forget the EV-1 ... or perhaps, let's do.

That said ... America is the place where over-priced by slyly marketed products thrive. When brand names become status symbols, normal economic rules of price and utility often fly out the Windows, (pun intended).

About the only certainty is people will continue wanting to move from point A to point B ... and until transporter tech can beam us directly, some car-like conveyance will continue to rule. The existing road structure pretty much guarantees it -- and the current gas-based infrastructure makes migration to alternative fuels ... complicated.

Lawyerliz said...

Tornado warning til 7 pm.

Unknown said...

Nobody knows what to do here in Austin. Package bombs are scary and confusing.

Lawyerliz said...

They'll catch him. Ruby

Rob Dawg said...

We are so lucky these disrupters are stupid. Order 50 backpacks and fake one up as a device. Distribute 25 with the fake. Then after the chaos 25 real devices. Actually order 200 backpacks and make the govt worry about the other 150.

Lawyerliz said...

Shoot electrical wires and transformers. Have your explosion in the middle of an electrical substation.

Rob Dawg said...

Mylar balloons with Mylar streamers.

LBD said...

I still have two laser disc machines and some movies. laser disc or Discovision was in concept in 1958. Market control was late due to the owners of the patents conflicts of interest.

Lawyerliz said...

Hehehe

TJandTheBear said...

SML,

Did you ever hook up that LD player?

Lawyerliz said...

Well the bomber blew himself up. Wonder how they found him?

Lawyerliz said...

Are you Calipersons anticipating mudslides?

Lawyerliz said...

Happy first day of spring. Cool here.

Cinco-X said...

I wonder what took so long. NSA being stingy with their intelligence?

Cinco-X said...

Snow today 😒

LBD said...

Good Morning!

Spring weather is here!

Amazing how fast they found him. They say there maybe more bombs floating around in the package delivery systems. =:0

Profile on the lady killed by the Uber car is quite interesting possibly done on purpose. We will never the motive.

Lawyerliz said...

She was homeless?

Unknown said...

News here is saying that they found him with a combination of mistakes. He was on camera from the shipping place in Austin that he shipped the packages from. Police got an anonymous tip about him. Once they could ID him from the footage and tip, they tracked his internet usage and cell phone location to perform the SWAT raid. He blew himself up on the highway, and completely shut down I-35 for the morning commute. One SWAT injured by the blast, after the bomb went off, they shot his body just in case. Police say to remain vigilant for a couple days, because they are unsure if he sent any other boxes.

LBD said...

She was homeless, criminal record, prison for almost 4 years.

Rob Dawg said...

Based on the rain so far and the forecast it is a sure bet there will be debris flows. How bad is the question now. They removed 50,000 truckloads ahead of the storm so that will help. Posted 9AM local.

Unknown said...

Dangerous for the bridges. Heavy debris loads create more shear stress on piers as water moves around them and could cause a collapse.

LBD said...

I heard some talking head chatter saying the FED is going to lease some gold to other countries. WOW! how many ways can we amplify debt.

Cinco-X said...

Maybe they should use the remaining good to buy Bitcoin

Cinco-X said...

Ack... Gold

Lawyerliz said...

Will the gold stay here? If it does we can just steal it, if necessary. Snark. . . I think.
I have become profoundly cynical.

Lawyerliz said...

They have that many trucks?

Lawyerliz said...

When is it supposed to happen, if it does?

LBD said...

The gold stays here but the leasee adds it as an asset to their balance sheet at full value and lends against it. If I understand this properly. Isn't life grand? LOL!

Lawyerliz said...

Words on a piece of paper have changed. Then electrons will dance around. I think i will buy my new sofa, and spend my lexis or 2 on the rest of the home improvements. Then, if something happens, who knows what, i will have maximized my desireable stuff, at least.
Then the house can rot.

Lawyerliz said...

All, all imaginary and symbolic. And we criticize religion. . .
. .

Rob Dawg said...

Deck almost done. Kitchen next. Shudder.

Lawyerliz said...

I hired someone to put Down tiles, to install cabinets, to put in counters. They didn't cost too much and they did a good job. But if studs have to be pulled out. . . That would be too much.

LBD said...

Good Morning!

You decide, I think the driver was distracted and the self drive failed.

https://www.themaven.net/mishtalk/economics/police-release-video-of-uber-pedestrian-fatality-uxVXis8weU2aLmu7DZTIRQ

Putting the rest of the trim on the pool house/shed. Still plenty of boulders to move this summer.

Lawyerliz said...

Good Morning. CAlipersons and persons everywhere.We'll

Lawyerliz said...

Beg the glods for a mud free day

Rob Dawg said...

Big storm cell in a few hours. Will keep the TV on.

LBD said...

Good Luck out there. I hope they all got out this time.

Lawyerliz said...

Yep.

Cinco-X said...

How long have you been without a kitchen!?

Cinco-X said...

We got 1-2" at my place. Glad Tony was a bust

Cinco-X said...

Toby... DYAC

LBD said...

Yea! Glad to hear you got a break from the snow gods.

Who needs a kitchen when the rich go out to eat! :)

Rob Dawg said...

Go out to eat? In this horror? The roads. They are... wet! Looks like we dodged the worst.

Lawyerliz said...

To chill the ice for rocks

Unknown said...

I thought the kitchen is where the help cooks your meals for you.

Firemane said...

But I'm sure when you're done with the kitchen you'll be cooking with gas!

Rob Dawg said...

The “help?” I AM the help.

Tonight will be unusual. Mrs Dawg is socializing and me on my own no telling what may happen. Ceasar salad perhaps.

LBD said...

I guess they still slow down to 80 mph and add another half a car length so they arn't bumper to bumper. I have seen their performance on ice in Colorado. How far is the nearest Taco Bell?

Rob Dawg said...

SoCal rainiacs have a predictable pattern. Drive speed limit +20 unless too conjested. If it rains we split. Those of us with experience drive to conditions. The idiots immediately drop to -20mph for conditions. When they find out they are not melting they resume speed omit +20. Insanity.

TJandTheBear said...

Here in the PNW everyone's comfortable in the rain, but throw a little white stuff on the road and watch out. Of course snow in LA would have the same impact as an earthquake. ;-)

Lawyerliz said...

Oh, noez. Wet roads!

Lawyerliz said...

Here everybody is comfortable with cloudbursts.

Lawyerliz said...

I think we've see as many as 20 snowflakes since moving here in 72.

LBD said...

Good Morning!

How about the budget buster. They past it now they have to read it. T might veto it as he should. The public cares more about the B Ball results then reality. Living the American Delusion. LOL!

Lawyerliz said...

T vetoing for the wrong reason. Wants More money for wall.

LBD said...

Yep but I think he wants cuts to other things like Planned Parent hood.

Lawyerliz said...

Trump likes scaring everyone to death before he does anything. . . Like signing the budget
He likes the attention, IMO.

Firemane said...

He, of course, signs it anyway.

From what I can tell, signing stuff is the only Presidential activity that Trump actually enjoys, which might explain why despite a number of Veto threats, to date, Trump has not actually vetoed any bills.

Lawyerliz said...

Dow down over 400 points. Plus yesterday, that is about 1200
Points.

Lawyerliz said...

We are in correction territory. Make your bets!
Up
Or
DOWWWWNNNNN.

LBD said...

That's a lot of dollars! Next mortgage rates go up, prices go down and repos pick up.

Republicans screwed T again. I don't think any President has vetoed may bills for a long time. Trump the President the party did not want. What could go wrong!

Lawyerliz said...

It already has

T is not my president

TJandTheBear said...

Dow's already confirmed, S&P's a hair away... this sucker's going DOWN. Hell to pay for the last decade of money printing.

Once the bear bites hard enough people will forget all about their irrational fears regarding inanimate objects, unless Soros-funded astroturf campaigns are their only available work.

LBD said...

You may feel you don't have a President others like me feel we don't have a country anymore. The Swamp won today and the people lost.

Lawyerliz said...

More than a billion for stupid wall? Just maintenance and repair for military needed. Like everybody, I don't know what's in there. How about us in that 1.6 billion on roads and bridges . Not enough? Repair the worst, busiest ones.

Lawyerliz said...

Trump is the swamp.

LBD said...

T got thrown under the bus with the pork loaded on the military funding. Talking heads last night found a few of probably many items of waste like funding to China for development?, Vietnam military?. Millions here millions there, soon your talking some big money. Then Planned Parent Hood gets almost a half a Billion Dollars. I thought the abortion problem would be a rare event by now after Obummer care free birth control. If Congress cared about roads bridges and such They could easily find the waste and turn it to the needs, even the wall. How about the Dems not holding the bill hostage for DACA? Guess they didn't need them as a wedge this time as the shared the trough with the Red pigs. Red and Blue equals America got screwed. IMO

Rob Dawg said...

This autopilot budgeting with embedded increases has to stop. In Dawgifornia all agencies need to be periodically reauthorized. Sunset clauses and budget baselines are 90% of the previous year in general not 105%.

Lawyerliz said...

Trump did not launch a trade. We've been in one for years, just refusing to recognize it, He's proposing to solve it in the worst possible way.
China saying it will stop importing cherries, bubbly wines and pistachios. Ok, . More for me.

Lawyerliz said...

Funding to CHINA for debelopment????? !!!!!!!!!

Lawyerliz said...

Trade war

Lawyerliz said...

Oligarchy doesn't work.

Lawyerliz said...

New post?

Lawyerliz said...

Republic's apparently devolve into olgarchies.

LBD said...

Americans have failed to take care of their government long ago. Nixon was the first President I could vote. The damage was done by then so he took us off the gold system and all hell broke loose when Congress found out there was no limit to credit spending. The falsehood of Red as fiscally conservative and the Blues for redistribution of wealth. Now they both push redistribution of global wealth and pocket a bunch of bucks for themselves. I hear they voted themselves a pay raise, kick backs must not pay like they used to. This keeps up and T is toast next election. Will the Red team regret or cheer? IMO.

Lawyerliz said...

I don't object to pay raises, but the gerrymanderings may mean the end of any semblance of a republic

Lawyerliz said...

I can't wait for the misterms.

Lawyerliz said...

Nice error. Midterms.

Cinco-X said...

We're Gerrymandered here in Massachusetts. A third of the population is Blueteam, but no chance at a Republican representative...

dilbert dogbert said...

Gerrymandered!!!
https://upload.wikimedia.org/wikipedia/commons/thumb/f/fd/Massachusetts_congressional_districts_large.pdf/page1-600px-Massachusetts_congressional_districts_large.pdf.jpg

dilbert dogbert said...

Gerrymandered!!!
https://upload.wikimedia.org/wikipedia/commons/thumb/3/3d/North_Carolina_Congressional_Districts%2C_113th_Congress.tif/lossless-page1-1920px-North_Carolina_Congressional_Districts%2C_113th_Congress.tif.png

TJandTheBear said...

YAWN! Gerrymandering's been the rule for eons, with equally egregious maps on both sides.

Lawyerliz said...

Yep, both guilty. Still wrong.

Lawyerliz said...

Evdrywhere?

LBD said...

Good Morning!

I proclaim this to be National Lobbyist Day. Politicians hug your favorite Lobbyist and don't forget to check your mail box for that thank you gift card! People of America better luck next time! LOL!

LBD said...

Gloomy day, cloudy and cool.


The song repeatedly floating threw my head, Moon Light Drive buy the Doors. An old favorite from the surfing years. :)

Rob Dawg said...

New post. Gas price chart.

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