BIS Chief Hates Crypto, Says "Stop Trying to Create Money!"

We all need jobs, right? The poor banksters too. Who would want to get in the way of international banksters and their monopoly on the ability to create money. How foolish of us to try to find ways to escape their stranglehold.

The Bank for International Settlements (BIS) is known as the central banks' central bank. The newly appointed general manager of the BIS is Agustín Carstens. He's previously said bitcoin is "a bubble, a Ponzi scheme, and an environmental disaster."

_{Modified from flickr, Credit: Eneas De Troya, CC BY 2.0}

Carstens doesn't like how the younger generation is adopting bitcoin and crypto, and moving away from the influence and control of the traditional financial systems. Now, in a recent interview for the Swiss German-language newspaper Basler Zeitung, he's flat-out saying "stop trying to create money!"

It might just sound like he thinks the younger people are foolish, along the lines of "those crazy kids and their bitcoins, when will they ever learn?" But he doesn't like the threat that cryptocurrency poses to the international banking cartel that is a hidden hand of power in the world.

The BIS predates both the IMF and the World Bank. It was founded in 1930 with the goal to "promote the cooperation of central banks and to provide additional facilities for international financial operations." It's an international organization, extremely profitable, and a research institute that's founded and protected by international treaties. It's customers and shareholders are central banks, which the BIS also guides the operations of.

When it comes to groups that are alleged to control the world, historical record show that the BIS is a secretive group the determines the fate of over 7 billion people while hardly being paid much attention to and hiding in plain sight. It's essentially the secret bank that runs the world.

It makes sense that the head of the BIS is trashing bitcoin. He wants to keep his fat fingers on the pulse of nations, and squeeze the veins to control them. He said it's a mistake to try to create money, since even the great Isaac Newton failed at it:

"Glance back into the past and you will see that creating gold or money from nothing has been a regular obsession. It never worked. Even the great physicist Isaac Newton was at one point in his life obsessed by alchemy and the idea of making gold. He was very successful in a number of fields, but in this one he failed. Newton ended up as head of the British Mint. Why? Because he could detect at once if a coin was counterfeit. After he failed in his attempt to make gold, he switched sides and sent counterfeiters to prison. So my message to young people would be: Stop trying to create money!"

It seems Carstens is trying to railroad cryptocurrency into a strawman of being easily counterfeited. He also tried to derail interest in crypto by advising young people to pursue something better than this apparent asset class that doesn't satisfy any purpose of money.

Either he doesn't understand what is talking about, or he's lying through his teeth. I don't think the head of the BIS is that ignorant about crypto or how money can be anything. It's more likely that this is a desperate attempt to flail and run around trying to create fear, uncertainty and doubt in the minds of those who are still on the fence.

To show how he is straight up spreading falsity, or outright lying, he said:

"Young people should use their many talents and skills for innovation, not reinventing money. It's a fallacy to think money can be created from nothing"

I mean, come on Carstens, are you serious? Fiat money is all about being created from nothing. He's putting out bullshit propaganda that a form of money can't be made better than Fiat money, and implicitly makes the claim that Fiat money is not made from nothing, while cryptocurrency is. At least cryptocurrency is out of the direct control of his and the banksters money-grubbing hands.

Carstens argues that only central banks are to be "trusted" to be in charge of creating money, and that there is no viable substitute for the role central banks provide in the world economy, saying: "I can't imagine something coming along any time soon that would be more efficient and generate the same level of trust"

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Thank you for your time and attention. Peace.

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