Federal Reserve Admits It Fears Cryptocurrency!

in #bitcoin6 years ago

On Monday, 15May2018, the President of the Federal Reserve Bank of St. Louis, James Bullard, warned that the US economy has not seen a dilemma to rival the cryptocurrency boom since the 1830's when American wealth consisted of numerous regional and federal currencies.


Image Source: https://www.marketwatch.com/story/cryptocurrencies-are-pulling-the-us-back-to-the-1830s-fed-official-says-2018-05-14

Bullard warns that Wall Street is playing a dangerous game by courting a new currencies. He especially voiced concern against initial coin offerings in which small groups make their own currency for a specific purpose. The worst case scenario would be consumers needing to hold multiple currencies for regular purchases. Imagine needing a different kind of money for each product you buy!

“Should I pay with one cryptocurrency or another cryptocurrency or another cryptocurrency or the dollar?” Bullard illustrated. “We want people to make judgments about how much is that really worth and how much am I willing to pay for it."

“The only reason this is not a bigger issue today is that the total volume of cryptocurrency trade is not that large in relation to the entire economy,” he said.


Image Source: https://nypost.com/2018/05/14/cryptocurrency-could-tank-us-economy-james-bullard/

Predictably enough of a Federal Reserve employee, Bullard mirrored the sentiment of pre-Civil War consumers, calling for one unified currency to be agreed upon. Could this be a hint at something unexpected? At the minimum, we should consider the possibility that the Federal Reserve might attempt to bring a cryptocurrency of its own to bear.

Without a doubt, the Fed is aware of the threat cryptos imply; that the US Dollar is losing the throne. Cryptos are a very limited fraction of currently traded capital in America, but the masses are quickly changing that ratio to favor a coin that favors them.

GODcoin's ICO is a key part of this. By upholding the values instilled within the three Abrahamic faiths, GODcoin will be the obvious choice for the faithful to unite under. One World Currency is a scary thought to most people, but it needn't be. A wise, just, and godly ruler with a globally recognized, resilient, reliable economic model is a far cry from the draconian boogeymen decried by conspiracy theorists. It's really just a question of who wants to be near the top of that future by taking advantage of preliminary opportunities.

Invest in the Alpha, so you can rule with the Omega.

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Early investors have the opportunity to secure their wealth for the future ahead, so the time to invest is now. Wait until after the ICO investment phase, when GODcoin becomes the common currency for wages throughout the world, unfortunately, the opportunity to profit through early investment will no longer be available.

To view the video on YouTube:

There are many advantages to GODcoin especially since it is one of the few coins that will be backed by gold and silver. Not only does GODcoin give the illuminated path towards the future, but as gold and silver increase, so will the investments being made at this time. GODcoin's amazing ICO offer of investments being met with a 40% token bonus has been extended until the end of May 2018! Invest now, and as the price of gold will inevitably increase, so will your profit!

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All information provided is available on the official website at https://godcoin.gold

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Such an interesting and needy post.Thanks for your update, keep it up.

The ICO won't last much longer, and I'd hate to watch everyone else enjoy the prosperity that will come from it if I didn't invest early.

Once this replaces Fiat currency, the world will change dramatically!

Soon the dollar will collapse and GODcoin will be the dominant currency of the world!

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I like that, it's catchy!

Invest in the Alpha, so you can rule with the Omega.

It should be scared because they are about to be replaced by it

It is also great because it is under the King who volunteered to fight crime in Chicago with the Guardian angels and was seen as the only incorruptible leader there in such demon infested area.

GODcoin has my support!

What would this do to all the other coins out there?

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