Thx, regarding Bitcoin. Any thoughts on, what if gov't invented-created Bitcoin? Possible as it tracks previous transactions.
5/12/21
Any cryptocurrency can be seized and outlawed at any moment. They can seize all places that store precious metals for clients. Herbert Hoover admitted in his “Memoirs” that the entire investigation that led to the creation of the SEC was on the back of a phone call where he was told it was a conspiracy against his administration to create the stock market crash. When he realized that there was no such plot, he apologized in his “Memoirs” writing: “But when representative government becomes angered, it will burn down the barn to get a rat out of it.” There is ABSOLUTELY nothing the government cannot do. They rigged the election with mail-in ballots and you will never be able to truly verify anything. The medical profession has been converted into a prosecution and political manipulation tool. They have bribed BigTech to do their bidding and they own all the major mainstream media with few exceptions that make little difference. Do you really think they would EVER allow Bitcoin to defeat their agenda?
Drug dealers are not using and cryptocurrency because blockchain can be used to track money. There are programmers working right now on trying to devise a completely new form of cryptocurrency without blockchain to restore privacy. Blockchain technology can be traced! With the propaganda about Bitcoin and blockchain, it offers NO security in any transaction which is deemed illegal. Tax evasion is also a crime. I can CONFIRM that Bitcoin has been allowed to prosper because the government can trace the transactions and that is far better for them than paper money.
There are programmers now fully aware that Bitcoin offers no protection whatsoever and they are trying to create a new system that obliterates the blockchain to make it untraceable.
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2/17/16
Bitcoin can never become a “world currency” for it is highly questionable whether or not any electronic form of money can become a true “world currency” when more than half the world does not even have a bank account. This is why Europe declared it a right to have a bank account when in fact they are really saying it is mandatory. Call it a “right” and everyone wants a “right”; call it “mandatory” and they see it as authoritarian. This is the oldest game in town. Do you buy LIFE INSURANCE to cover you if you live forever? Or is it DEATH INSURANCE in case you die early? Try selling DEATH INSURANCE and they will hang the phone up.
The reason the paper U.S. dollar is a “world currency” is because it is recognizable. You will accept it in exchange ONLY because you know someone else will take it from you. One of the reasons Bitcoin has become popular is that people have wrongly assumed the Fed creates money at free will and that the money supply should not be in the hands of the banks. This reasoning shows naivety for the Fed can create elastic money and buy assets, but those assets ultimately mature and expire. They attribute all our problems to central banks and totally ignore the fact that Congress creates the money with new debt that reverts to money, which simply pays interest as it did in the 1860s to convince people to accept it. When government bonds could not be used as collateral to borrow against, then it was less inflationary to borrow than to print. That changed in the 1970s, so note there is no difference between borrowing or printing except borrowing creates more money because we have to pay the interest.
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China create or part of?
1/6/17
The rally in bitcoin has come out of China, which has accounted for 98% of bitcoin trading in the past six months. China is also home to about two-thirds of the world’s bitcoin mining power. The Phase Transition spike in bitcoin is very alarming, for it flies right in the face of government attempts to eliminate currency. The Chinese have been buying bitcoin onshore, selling it offshore for another currency, and then moving the money to a bank account. This is how the Chinese individuals can take cash out of the country, circumventing all regulation.
The Chinese government has been strengthening requirements for citizens by converting their yuan. With Trump coming into office, China fears that lower values for the yuan will become a trade war even if the government is not actively trying to depreciate the yuan for trade. Conversions of yuan are already subject to a quota or currency controls in an effort to curb capital outflows.
Bitcoin has been the escape method for capital fleeing China. With the looming trade war on the horizon, the Chinese government will have absolutely NO CHOICE but to come in and regulate bitcoin as its citizens now account for 98% of all trading. From a regulatory perspective, the days of passive treatment of bitcoin may come to an end. Bitcoin has soared only because it has been the mechanism to obtain foreign exchange and take capital out of China. This could easily be considered an illegal operation, such as money laundering, to justify closing that window.
Of course, you have the zealots who preach bitcoin as the alternative to the dollar that they cannot shut down. All they need to do is declare bitcoins illegal and the PRESUMPTION of being in bitcoin is a PRESUMPTION of being a criminal. They are already using terms like “CASH IS FOR CRIMINALS” and if you have a few thousand in cash, they just confiscate it presuming you are criminal under Civil Asset Forfeiture without having to prove you committed a crime or charging you.
Keep in mind we are dancing with the devil. There are no rules — just ruthless self-interest. They will do whatever it takes to survive. They will not relinquish power willingly. |
