The Reset Original Video
Update: Bloomberg published a story 24 hours after my post that is suspiciously similar to what you will read below. They only differ in that Bloomberg poses the E Dollar as a wonderful monetary innovation whereas I outline the possibility as a warning. They almost certainly took the idea from my post without offering credit, but here is the link to the Bloomberg story, you be the judge...
Central banks are planning to implement a new form of currency that has the potential of being an even more profound change than 1913, 1933, 1945, or 1971. Back in early 2014 I wrote what is now How they got us into this mess. In it I discussed an option that the government and banks might use to get us out of the monetary mess we find ourselves in, it was called the E Dollar. The E Dollar is simply a digital currency that has an exchange rate with cash. The central bank would set a rate at which old paper dollars would lose value against E Dollars held in a bank account. Under an E-Dollar system any physical cash removed from the banking system would lose value against the E Dollars retained in an account, this would effectively eliminate the zero lower bound. Central banks would be free to implement significantly negative rates. The E Dollar would also a carry the added optional benefit of a gradual debt jubilee if the powers that be decided to allow old debt to remain denominatedin old dollars.
