The United States Federal Reserve Note is the largest digital currency in the world. Bitcoin’s claim to being a digital currency is totally minimized when you think about the “digital dollar” for longer than a minute.
Bitcoin supporters – and they are legion – are as dedicated to the concept of a non – government backed currency like Bitcoin as any Greenie is to eliminating carbon footprints. They are pretty radical. They have found something to believe in…something they believe to be better than money produced and regulated and backed by governments around the world.
Supporters of Bitcoin think of it as a non – government (or post-government) currency – but it is not. Government can shut it down anytime it wants. A “virtual currency” (like Bitcoin) is invisible. It depends on billions of computers which are linked together. You cannot dilute Bitcoin, you cannot counterfeit it… and those two things make it highly desirable to many people who have lost their confidence in the current central bank-controlled world of money. The point is, the people have largely lost trust in government.
Belief in paper money is crumbling. Why? Because of mortgage – backed derivatives. Because of government reports that tell us inflation is only 3%– when we know what we pay for groceries exceeds that number by far. Because of Quantitative Easing payments by the Federal Reserve to Wall Street Banks – certainly not representative of the vast majority of independently – owned commercial banks in America – to prop up the stock market. Because of the manipulation of the precious metal markets by bankers and government agents who act in opposition to the well-being of the citizens of this nation. The fact is, belief in paper money is crumbling because of lies (from Obamacare to Benghazi to IRS manipulations of tax status qualification to Tea Party groups). And that has stimulated international interest in Bitcoin.
The problem with America’s currency today is that too much of it is being printed. Though it’s not really printed these days. It’s just key-coded into a computer.
How do you get Bitcoin? You must use the currency of your nation to purchase it. So Bitcoin does not by-pass currency and central banks as advertised. You need your national currency to gain access to it. Thus, Bitcoin’s primary value lies in its stock market price, not in any established market value – perceived, not actual value. And government can shut down Bitcoin anytime it chooses. How? Turn off access to the computer. If you do not think government controls what has access to the Internet, you have been living under a rock.
Should Bitcoin ever become a real threat to the central banking system, Bitcoin will be shut down. Do you really believe the richest, most amoral, most powerful organization in the world – the Bank of International Settlements whose members are the central banks of the world – would have a problem in shutting down Bitcoin in a New York minute if they thought it represented any kind of a threat to them?
America’s big industry is debt. It’ the economic driver of our nation. We have no real manufacturing or industrial base left. With Quantitative Easing, the Federal Reserve Systems Balance sheet has increased from 12 (plus) trillion at the end of the Bush Administration to an explosive $17 trillion under Obama. There are no assets left in America. Debt is our biggest asset.
Bitcoin is a NSA project, dating to 1996. Get a clue.
http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
The United States Federal Reserve Note is the largest digital currency in the world. Bitcoin’s claim to being a digital currency is totally minimized when you think about the “digital dollar” for longer than a minute.
Bitcoin supporters – and they are legion – are as dedicated to the concept of a non – government backed currency like Bitcoin as any Greenie is to eliminating carbon footprints. They are pretty radical. They have found something to believe in…something they believe to be better than money produced and regulated and backed by governments around the world.
Supporters of Bitcoin think of it as a non – government (or post-government) currency – but it is not. Government can shut it down anytime it wants. A “virtual currency” (like Bitcoin) is invisible. It depends on billions of computers which are linked together. You cannot dilute Bitcoin, you cannot counterfeit it… and those two things make it highly desirable to many people who have lost their confidence in the current central bank-controlled world of money. The point is, the people have largely lost trust in government.
Belief in paper money is crumbling. Why? Because of mortgage – backed derivatives. Because of government reports that tell us inflation is only 3%– when we know what we pay for groceries exceeds that number by far. Because of Quantitative Easing payments by the Federal Reserve to Wall Street Banks – certainly not representative of the vast majority of independently – owned commercial banks in America – to prop up the stock market. Because of the manipulation of the precious metal markets by bankers and government agents who act in opposition to the well-being of the citizens of this nation. The fact is, belief in paper money is crumbling because of lies (from Obamacare to Benghazi to IRS manipulations of tax status qualification to Tea Party groups). And that has stimulated international interest in Bitcoin.
The problem with America’s currency today is that too much of it is being printed. Though it’s not really printed these days. It’s just key-coded into a computer.
How do you get Bitcoin? You must use the currency of your nation to purchase it. So Bitcoin does not by-pass currency and central banks as advertised. You need your national currency to gain access to it. Thus, Bitcoin’s primary value lies in its stock market price, not in any established market value – perceived, not actual value. And government can shut down Bitcoin anytime it chooses. How? Turn off access to the computer. If you do not think government controls what has access to the Internet, you have been living under a rock.
Should Bitcoin ever become a real threat to the central banking system, Bitcoin will be shut down. Do you really believe the richest, most amoral, most powerful organization in the world – the Bank of International Settlements whose members are the central banks of the world – would have a problem in shutting down Bitcoin in a New York minute if they thought it represented any kind of a threat to them?
America’s big industry is debt. It’ the economic driver of our nation. We have no real manufacturing or industrial base left. With Quantitative Easing, the Federal Reserve Systems Balance sheet has increased from 12 (plus) trillion at the end of the Bush Administration to an explosive $17 trillion under Obama. There are no assets left in America. Debt is our biggest asset.