From Desk of JD

HI, JAMES DEO DAWSON SR “JD”, NMD

"THE INTERNETIZEN ENTREPRENEUR " HERE

BY JAMESDEODAWSONSR | ON February 11, 2013

This is my  JD Dawson Virtual Enterprises  – Blog Posting Number One – Virtual Currencies

James Deo Dawson Sr “JD”, JD Dawson & Associates and Virtapay

Almost 6 months ago, we posted on the global financial crisis. Since that time, we have been carefully monitoring and studying the crisis, with a special focus on how it relates to VirtaPay. We believe the severity and intractability of this crisis—due to its underlying causes—will forever change the world. Plus, due to the financial nature of the crisis, it will inevitably affect the future of the VirtaPay currency.

Rather than ignore the increasing warning signs, we dug in, deeply researching the problems in search of root causes. What we found is shocking and holds deep implications for what will be the best way to move the VirtaPay currency forward. It will require some big changes, but if all goes to plan, we expect our users will benefit tremendously as the global crisis runs its course.

Although we are already 5 years into the financial crisis, we expect it will continue to get worse, and likely last another 10 years or more. Despite how grim the situation appears on the global stage, we believe these circumstances have created an unprecedented opportunity for VirtaPay and our users.

What is the “Financial Crisis”?

When we talk of the “financial crisis” we are referring to a huge list of financial failures and other problems which have occurred (some still ongoing) since 2007. Only a handful of these events are listed in the examples below, as there are far too many to cover in one blog post.Every nation taking part in the global economy has been affected by these problems to varying degrees.

Here are just a few of the problems the crisis has brought so far…

• Burst housing bubbles — This has already happened, or is still in progress, in the United States, Argentina, Britain, Netherlands, Italy, Australia, Canada, New Zealand, Ireland, Spain, Lebanon, France, Poland, South Africa, Israel, Greece, Bulgaria, Croatia, Norway, Singapore, South Korea, Baltic states, India, Romania, Ukraine and China to name a few.
  Housing bubbles cause a massive spike in housing prices, followed by a crash. This results in a high rate of foreclosures and evictions. Many trillions of dollars have been lost in property values — this loss is mainly felt by the homeowners. Many average citizens are left bankrupt or even homeless. However, financial institutions, the same ones that caused the bubble, are now benefiting from the low prices of homes now left vacant due to foreclosure. Average citizens pay the price, while financial institutions get even richer from the bubble they caused.
• Failed or acquired financial institutions — Numerous large banks, insurance companies and hedge funds have been rescued, acquired or bankrupted during the financial crisis. Just a few of the largest include: Merrill Lynch, Bear Stearns, Citigroup, Countrywide Financial, Lehman Brothers and AIG. Many smaller banks continue to fail in the U.S. and around the world.
• Government bailouts of corporations — A number of financial sector businesses (such as banks and insurance companies as mentioned in the last point) have been rescued or “bailed out” by governments around the world. In many cases, the top executives of these companies even received multi-million dollar bonuses for the time they spent guiding their company as it ran into the ground.
  Do the citizens, like you, get a bailout? No. You pay for the bailouts. In most cases, citizen’s tax dollars are used to fund the bailouts. If the rescued companies default on these loans, future generations (your children, then their children, etc.) will end up paying for these bailouts too.
• Failed retirement funds — Nations and corporations have been busy plundering, risking, and losing the retirement funds of their citizens and employees.
  In 2008 alone, retirement funds and pensions in a group of nations including the U.S., Japan, the United Kingdom and The Netherlands lost a combined $5 trillion due to the global financial crisis. Many workers nearing retirement age have had to postpone retirement plans or take a second job. Some have completely given up on the idea of retirement, having no choice but to keep working until they drop dead. This is especially hard on those who have watched their home’s value plummet or if one or more people in their household have become unemployed.
  In another example, Spain has quietly and aggressively plundered at least 90% of its social security fund, purchasing increasingly risky debt—its own debt—Spanish government bonds. The Spanish government is nearly bankrupt. It is on the brink of needing international financial aid, like Greece. Spain is among the most financially unstable of European nations. It seems likely their social security fund would have been safer if wagered on a coin toss.
• Rich are getting richer, middle-class are joining the poor — Here are a few figures (from the U.S.) to help put this in perspective… In 2010, the wealthiest 1% of Americans held 42% of all financial wealth in the U.S. The richest 10% controlled 85% of the wealth. The bottom 80% held just 5% of all U.S. wealth. This wealth gap continues to grow more extreme. (Note: These figures represent total net worth minus the value of one’s home).
  This phenomenon isn’t limited to the United States. In a bigger view, worldwide, thepoorest 50% hold only 1% of global wealth.
• Rising unemployment -- Contrary to official government reports, we estimate that the real unemployment rate in the U.S. is now over 20%. This is getting very close to levels seen during the Great Depression of the 1930s. (Note: U.S. government statisticians attempt to hide the real level of unemployment by using new reporting methods which, for example, don’t include the long-term unemployed!)
  Looking to Europe… in the critical 15-24 age group, unemployment recently reached 57.6% in Greece and 56.5% in Spain. We see this as a time-bomb, ready to explode without warning. Historically, high unemployment in this age group often leads to future economic instability and social upheaval. We are already seeing strong signs of both.
• Rising dependence on government assistance — In 2012, a record-setting 1 in 6Americans were at, or below, the poverty level and receiving “food stamps”, a form of government assistance. Many nations have far higher levels of poverty brought on by the global crisis.
• Plus many more — The above list is just the tip of the iceberg. There are countless more examples of how the current global financial crisis has been impacting our world and our lives.

Conclusions of our research…

Our research into the global financial crisis led us to several conclusions:

• We expect that the financial crisis will get worse before it gets better.
• We expect that governments will attempt to hide the true severity of the crisis by manipulating official statistics… for as long as they can. If they take this manipulation too far, they will lose the trust of their citizens. They must walk a fine line.
• We expect that the crisis will continue for another 7 to 10 years, at least.
• We believe that all of the failures of the financial crisis are due to causes which are tightly interconnected.
• We believe that today’s global financial system is built on an incomplete and inherently unstable foundation.
• We believe that VirtaPay users can benefit tremendously from the current global crisis as VirtaPay makes changes to fill the gaps and provide what is missing from the foundation of today’s global financial system.
• We expect VirtaPay to become a bright spot of prosperity rising out of the gloom of the current global financial crisis.

VirtaPay plans to make changes to help everyone who joins Virtapay to take advantage of the financial crisis—rather than be crushed by it.

We started by looking at the effects and worked our way backward to locate the causes. The trails of evidence led us down many paths. Some of these paths led nowhere, most seemed designed to mislead and obscure the truth, while a few led us deeper and deeper into the mostly unseen and mysterious realms of international finance.

The goal of our master plan is to bring the VirtaPay currency into worldwide acceptance as a universal payment method. We are now working on the first stage of this plan, which includes growing our service to 100,000 Premium members. Once this goal is achieved, we plan to begin testing our debit card system.

We are making steady progress toward the Premium member goal and as this growth continues, we expect it to accelerate in an exponential fashion.

A higher view…

We are working toward a day when you can spend your VP$ to buy physical goods, pay for a vacation, buy tickets for a concert, eat at a restaurant, pay your rent and more. We want to enable small business owners to purchase all the supplies and services they need for their business using VP$.  Ultimately, we are working to make VP$ just as easily spent and exchanged as any major world currency.

What’s next in the mid-term?

We have several features planned for the near to mid-term future. These plans are designed to help accelerate the growth of our Premium membership and bring us to the point where we can begin testing the debit card system.

In the coming months, we plan to begin to introduce phase two and three of the master plan. This will be the beginnings of our efforts to bring aboard merchants who are interested in offering physical items and offline services (not just digital items). In addition, it will be the starting point of our efforts to set up an exchange system between VP$ and other world currencies.

James Deo Dawson Sr “JD”, JD Dawson & Associates are constantly on the lookout for alternatives to help everyone get through our present struggling economy and be better prepared for what is yet to come. We are also constantly striving towards putting America back to work again by joining forces with reputable companies who share our in our ultimate goal of not just America, but the world back to work again.

We are in the process of developing a new division of our company, JD Dawson Virtual Enterprises. It's goal will be to seek out other reputable companies such as Virtapay that wish to join us I our cause concerning the global financial crisis and ways that we can prepare for the inevitable doom and gloom that is yet to come.

We invite you to come join with us. You can start by becoming a free member of Virtapay. Follow the Virtapay teachings and become a full member. It is very easy to do and you will be well on your way to educating yourself with current data supplied via the Virtapay blog and the newsletter that we plan on issuing via JD Dawson Virtual Enterprises.