Central Banks, Governments & Keynesian Economists Are Losing Their $hit Over Bitcoin

in bitcoin •  11 days ago

If you were to tell me that central banks, governments, and Keynesian economists were in an uproar and hated something, I would put my finger to your lips and say, “Shhhh, you don’t even have to tell me what it is. Whatever it is, I love it.”

In this particular case, it happens to be bitcoin!

With bitcoin now on the cusp of breaking through $12,000 and a $200 billion market cap it seems all the puppets of the archaic, violent, tyrannical system of money and banking are losing their $hit!

The Federal Reserve’s vice-chairman of supervision Randy Quarles issued a “warning” 6 days ago saying that while digital currencies are not yet causing major concerns at their current usage levels, “more serious financial stability issues may result if they achieve wide-scale usage”.

The ECB actually urged its archaic banking system to try to process things as though computers and the internet exist to compete with bitcoin. A member of the ECB’s executive board Yves Mersch came out and said that:

“Banks need to implement instant payments as soon as possible and provide an alternative narrative to the ongoing public debate on the alleged innovation brought by virtual currency schemes.”

Alleged! Alleged!!!

Of course, the real schemes are the fiat paper backed by nothing and printed at will without limit by central banks like the ECB and the Federal Reserve.

It’s no surprise that most governments across the board take similar positions to that of the ECB’s.

Especially India, who not long ago enacted very strict capital controls in the form of banning large denomination Indian rupees and forcing their citizens to pay taxes and account for the obsolete bills as they cashed them in for smaller ones.

The Indian finance minister, Arun Jaitley, just recently stated that the government does not recognize bitcoin as legal tender.

Another example is in the US where Senator Dianne Feinstein has said that the country needs to update its Anti-Money Laundering laws to amend the definition of ‘financial account’ and ‘financial institution’ to include digital currencies and digital exchanges.

Also, the criminal US Senate Judiciary Committee is working on bill S.1241 that aims to “criminalize” the intentional concealment of ownership or control of financial accounts.

That’s right US citizens, you have to show big brother exactly what you’re doing, and if you don’t? Well, then you’re a terrorist! That’s what you get for living in the land of the free!

Then, there is the socialist utopia of Venezuela, where the government has been attacking bitcoin miners and stealing their hardware, and is now coming out with their own government-issued crypto called the “Petro” backed by the nation’s oil, gas, gold, and diamond reserves.

I’m looking forward to hearing the sketchy-ass details on the “Petro”! It’s most likely that the reason the Venezuelan government is doing it is because they can’t even afford to pay for the paper to print up their “Strong Bolivar” notes anymore!

And, Stephen Roach, a senior fellow at Yale, said, “Bitcoin is a dangerous speculative bubble by any shadow or stretch of the imagination. I've never seen a chart of a security where the price really has a vertical pattern to it. And bitcoin is the most vertical of any pattern I've ever seen in my career."

Roach is a Keynesian economist at Yale, so you can forgive him for not even knowing what a security is.

According to Investopedia, “A security represents an ownership position in a publicly-traded corporation (via stock), a creditor relationship with a governmental body or a corporation (represented by owning that entity's bond), or rights to ownership as represented by an option.”

Bitcoin is not a stock. It’s certainly not a creditor relationship with a government or corporation. And, it isn’t a right to ownership represented by an option… it is the right to ownership in and of itself.

Roach doesn’t understand that bitcoin is money. Keynesians don’t understand money anyway… that’s why they destroy every fiat currency they create in eventual hyperinflation.

And, Joseph Stiglitz continued to make the rounds on the fakestream media trying to talk down bitcoin this week. Here is his latest interview, edited slightly, but barely a noticeable change from the unedited video:

In any case, we’ve now got almost every central bank, government and Keynesian in the world panicking about bitcoin.

Good!

Hopefully, all of them are looking for a new job soon. I wish them luck since none of them have any skills that are useful in a free market.

The next issue of The Dollar Vigilante newsletter should be coming out this weekend and Senior Analyst, Ed Bugos, will give insights into what may or may not happen to bitcoin after futures trading on the CBOE Futures Exchange (CFE) begins at 5 p.m. CT on Sunday, December 10th.

Click HERE to make sure you don’t miss the next edition of the TDV newsletter where we have been covering bitcoin since 2011 and told you the day would come where governments and central banks would be scrambling to try to stop it.

That day has arrived. Stay tuned here for more!

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THEY.ARE.SCARED.SHITLESS that the little guys have figured out how to topple the legacy financial system of enslavement.

Sometimes people asked: Who is pushing Bitcoin. Nobody exactly know why. Of course a lot of demand comes from China, but hey they are with almost 1,4 billion. But the demand is everywhere, it is worldwide demand. But what you can tell that Bitcoin isn't regulated (except from the accepted code) and it is free market money. Nobody can print it, regulate it, confiscate it (if you hold the private keys of course). It is the people who want it. Maybe you can tell that people sense something and do not trust currencies. Maybe there is something big going on (monetary collapse?).
history will tell. From the Bitcoin point of view all currencies are already collapsing. Maye there it a part speculation in Bitcoin, but there is also a lot of demand (10 times more than last year). HODL!!

Got 'em shaking in their boots...... They know they can't control it. Thanks for another great post......

If I must choose between my country and my bitcoin, I choose freedom! Where ever crypto is used is where I will live and make my life.

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A country is a very overrated concept anyway - freedom all the way!

Always enjoyed your enlightening perspective :) Eagerly waiting to see what kind of effect the futures trading will have on bitcoin and more often than not, those talking bitcoin down are the ones who don't really understand it and too proud to research deeper into it.

FakeNewsLameStreamMedia....
don't know their ass from a hole in the ground.

Haha! Great edit!
That video was so much easier to listen to then the one you posted yesterday. ;)

Who is pushing this bitcoin ... I just don't believe that it is anti government global system

How’d Berwick say it? If you want peace, turn the TV off. Something like that.

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Howard Beale: Turn off your TVs

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Well done @nubody that clip is awesome! @everyone check out that 4 minute video right above this. Good stuff!

Thanks for share your another great post......
I upvote your post
I like it

Also the Dutch paper recommending people sell their Bitcoin as it undermines the government. The real FUD is incoming
https://www.rt.com/business/411886-bitcoin-dutch-newspaper-opposition/

Well there may be a dip to buy for those that wasn't in for the run up.. Seriously don't think CME/CBOE or whatever FIAT future contract would have any effect since they don't promise delivery and there are many established exchanges that does.

My husband has been following and dabbling in crypto for the past year. I got to admit I was real skeptical at first. But watching it in just the 3 months I've been on Steemit I'm starting to see what all the hubbub is about. I think this is a game changer in so many fields.

I can't wait to see what blockchain does in the medical field. If there is an industry ripe for revamping with new tech it is medical bookkeeping and recordkeeping and scheduling.

Keep up the good work, Jeff.
NurseJamie.jpg

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Fuck yeah, Jeff. You're the man!
Love it.

Bitcoin passed the 10.000 Euro mark!!! thanks for your thoughts on Bitcoin.

If the elites are talking something down, it's a definite sign to get your hands on it. Too easy.

I am pretty happy because decentralization is here! :)

LMAO @ the stuttering

Well said and thank you for all you do, Jeff! Thanks for all the great videos from Anarchast to TDV to your side channel where you walk your amazing anarchist dogs:D! And a big thanks for introducing Steemit to myself and likely many others! Freedom for all!

Since this was published it has even broken $13000. Great stuff!

Awesome post! No surprise the Establishment's P.O.'d Senator Feinstein's a member of the Council On Foreign Relations http://loveforlife.com.au/print/3059

"Rear Admiral Chester Ward, a former member of the Cfr for 16 years, warned the American people of the organization’s intentions:

'The most powerful clique in these elitist groups have one objective in common — they want to bring about the surrender of the sovereingty of the national independence of the United States. A second clique of international members in the CFR comprises the Wall Street international bankers and their key agents. Primarily, they want the world banking monopoly from whatever power ends up in the control of global government.'

And Dan Smoot, a former member of the FBI Headquarters staff in Washington, D.C., summarized the organization’s purpose as follows:

'The ultimate aim of the CFR is to create a one-world socialist system, and to make the U.S. an official part of it.'

In other words, the CFR’s activities are treasonous to the U.S. Constitution. Their goal is to put an end to the United States of America, and to make the country a part of their global government scheme."

These are the same crooks that gave us the Federal Reserve central bank conspiracy.
The Federal Reserve: An Astounding Exposure 1934
home.hiwaay.net/~becraft/mcfadden.html

https://archive.org/details/CreatureFromJekyllIslandByG.EdwardGriffin

And Yale University is basically the home of the Skull & Bones secret society
https://www.bibliotecapleyades.net/sociopolitica/esp_sociopol_skullbones11.htm

As Antony Sutton said, the Skull & Bones is behind Wall Street and Wall Street was behind:

  1. the Bolshevik Revolution,
    https://archive.org/details/WallStreetTheBolshevikRevolution

  2. The Rise of Hitler: https://archive.org/details/WallStreetAndTheRiseOfHitlerByAntonySutton

  3. World War 2

Joseph Stiglitz is also associated with the CFR. Too bad you had to reference the manipulative-stream brainwashing media like Bloomberg News, a CFR Corporate member. ;)

Cryptocurrency is the future, no doubt about that now.....