BIS Chief Fears "Systemic Threat" Of Bitcoin, Urges "Pre-emptive Action" From Authorities.

Bitcoin is not functional as a means of payment, but it relies on the oxygen provided by the connection to standard means of payments and trading apps that link users to conventional bank accounts,” Carstens said in Frankfurt on Tuesday.

If the only ‘business case’ is use for illicit or illegal transactions, central banks cannot allow such tokens to rely on much of the same institutional infrastructure that serves the overall financial system and freeload on the trust that it provides.

If authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat,” he said.

Most importantly, the meteoric rise of cryptocurrencies should not make us forget the important role central banks play as stewards of public trust...

Private digital tokens masquerading as currencies must not subvert this trust.

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A threat to who exactly? Why should we care if you feel there is a threat?

Clearly he is a Rothschilds puppet and this is all noise to more confuse the mind controlled organic robots.

Bitcoin isn't a threat because it is a slow fat pig, and no amount of lipstick will change that.

Looks like he could do with a few fewer free lunches.

Look at the state of this fat bastard! It looks like they had to build that desk around him. It is great to see him him quivering in his boots. Here's to bitcoin collapsing your rotten pyramid scheme ya fat fuck!

Almost choked on my coffee laughing when I wrote that! ;-)