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Central banks are planning to launch a new form of digital currency as governments and banks begin phasing physical cash currency out of circulation.  Debtcrash.report reports: 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. 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.

Beforer we discuss The Empire of Chaos ongoing attacks on "The Assassin Putin" and The Master of the Universe attempts to topple any challenge to Washington's global hegemony, we thought the following chart may give some much needed context for where the pain really is - the drop in the oil price in local currency terms has been the least of all major nations... for Russia

Former Minister of Finance for Greece and Economist Yanis Varoufakis talks candidly about why politicians have no real power, and why governments are powerless in today’s global power structures.  Varoufakis says that in today’s political climate, the real power belongs to those who control the economy. He believes that the mega-rich and corporations are cannibalizing the political sphere, causing financial crisis.

Submitted by Eric via EricPetersAutos.com,

Ethanol – corn alcohol – won’t take you as far as a gallon of gas.

But that doesn’t mean it is isn’t powerful stuff.

Politically powerful stuff.

Over the past year, we have frequently warned that the biggest financial risk (if not social, which in the form of soaring worker unrest is a far greater threat to Chinese civilization) threatening China, is its runaway non-performing loans, which at anywhere between 10 and 20% of total bank assets, mean that China is one chaotic default away from collapsing into the post "Minsky Moment" singlarity where it can no longer rollover its bad debt, leading to a debt supernova and full financial collapse.