Skip to main content

Banksters officially declare war on Bitcoin!

globinfo freexchange

JPMorgan CEO Jamie Dimon's recent statement about Bitcoin could be considered the official war declaration on the digital currency by the global financial mafia.


Dimon's remarks were quite impressive:

"It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said at a banking industry conference organized by Barclays. "Currencies have legal support. It will blow up." Dimon also said he'd "fire in a second" any JPMorgan trader who was trading bitcoin, noting two reasons: "It's against our rules and they are stupid."

One probably can't tell what is worse: Dimon's audacity, cynicism or hypocrisy? A top executive of the Wall Street syndicate that caused the great financial crisis of 2007-08, as well as endless other financial bubbles, while rescued by the US state with billions of taxpayers' dollars, speaks about 'legal support'!

But beyond that, what's probably even more impressive, is that Dimon essentially admitted what the establishment apparatus would probably describe as 'conspiracy theory' until now. Therefore:

  • Speaking about 'legal support', Dimon actually admitted that the banking mafia fully controls every government at least in the neoliberal West. Under the legitimacy provided by the parliaments in Western democracies, the financial criminal syndicate secures the monopoly of money supply and fully controls the circulation of currency. At the same time, governments obey to the neoliberal perception of the 'free market' fairytale, in order to justify more and more deregulation of the financial system in favor of the banking cartels.

  • As a consequence, Dimon clearly revealed banksters' agony that they could lose the monopoly and absolute control of the global currency circulation by Bitcoin or other cryptocurrencies.

The war was verified by the fact that “Bitcoin fell to its session lows after Dimon's comments. As of 3:01 p.m. in New York, bitcoin traded at $4,106.23, down 2 percent.

And it didn't stop there. As MarketWatch reported, “Bitcoin and other digital currencies have been getting absolutely toasted in recent trading, with some wondering if withering criticism from Wall Street heavyweights, like J.P. Morgan Chase’s CEO, and growing regulatory scrutiny in China have finally combined to exact a punishing, and lasting, toll on one of the most bubblicious segments of finance. On Thursday, the value of a single bitcoin was down about 14% at $3,349, compared with around $5,000 in early September and representing a roughly $27 billion loss of market value in the world’s No. 1 cryptocurrency, according to digital-currency site Coinmarketcap.com. Ether tokens, the second-most popular digital currency, were down 17% on the day at $230 in recent action. That equates to a loss of more than $16 billion in total value for the currency running on the Ethereum blockchain.


Why Dimon has chosen to declare war now?

One possible explanation could be related to a recent statement made by the Head of the Russian Direct Investment Fund (RDIF), Kirill Dmitriev, that the BRICS are considering to create their own cryptocurrency for the purposes of global commerce.

Such a move could help BRICS to decouple economies from the Western neoliberal monetary monopoly, even faster. With the technology of more powerful computers in close future that could 'mine' cryptocurrencies at much faster rate, the number of people who will choose to abandon traditional currencies may rise rapidly. Those who will set-up such a de-centralized financial system, will gain a great advantage against the obsolete system of traditional currencies controlled by central banks.

Even entire countries may choose to jump into the new system, in order to escape from the monopoly of the Western hard currencies. The most characteristic example is Greece. Many in Greece are considering Bitcoin and other alternative currencies as a solution against the monetary dictatorship of the ECB.

Recall that, with the rise of SYRIZA in power, and the ECB was forced to proceed in an open financial coup against Greece when the current PM, Alexis Tsipras, decided to conduct a referendum on the catastrophic measures imposed by the ECB, IMF and the European Commission, through which the Greek people clearly rejected these measures, despite the propaganda of terror inside and outside Greece. Due to the direct threat from Mario Draghi and the ECB, who actually threatened to cut liquidity sinking Greece into a financial chaos, Tsipras finally forced to retreat, signing another catastrophic memorandum.

All the above could explain to a significant degree why Dimon and his 'buddies' have declared war on Bitcoin. Yet, simultaneously prove that Bitcoin and other cryptocurrencies should become completely independent from the system of the dominant traditional currencies in order to survive and prevail.

Comments

  1. The mining of crypto-currencies is the manufacturing of pure waste:http://cobblehillbilly.blogspot.com/2016/07/the-glib-shit-that-is-bitcoin.html
    Fiat money costs next to nothing to produce while the crypto-currencies rely an huge, environmentally destructive energy wast as their commodity peg to "real wealth" but in fact are pegging themselves to pure waste.

    Popularly, democratically controlled fiat money systems are the most efficient, the trick is to take back control from the Mafia: the money isn't the problem, its who controls it that is.

    ReplyDelete

Post a Comment

Popular posts from this blog

Oct. 7 Reports Implode: Beheaded Babies, NY Times Scandal, & More

Glenn Greenwald    

Israel’s Descent Into Madness & the Holocaust Comparison

BreakThrough News   Rania Khalek was joined by Tarik Cyril Amar, a historian from Germany and associate professor at Koc University in Istanbul, to discuss Israel’s descent into genocidal fascism. Prof. Amar addresses whether it’s useful to make Holocaust and Nazi comparisons and the real reason behind the West’s unshakeable loyalty attitude when it comes to Israel’s barbarism.   

Zionist and US imperialist criminals are about to grab the natural gas off shore Gaza

globinfo freexchange   As the genocide against Palestinians of Gaza is about to be completed with an act of unprecedented brutality by the Zionists and butcher Netanyahu through the bombardment of about 1.4 million civilians in Rafah, it seems that they have already set their next primary goal. Which, in short, is to grab the natural gas resources off shore Gaza, together with their US imperialist buddies whose contribution to the genocide has been undoubtedly critical.     As already reported , in 2007, Hamas came to power and Israel launched an offensive on Gaza Strip, leaving behind 1,400 dead Palestinians, but taking with it the gas fields. Within a year, Israel announced the discovery of the Leviathan natural gas field, which did include Gaza's riches, valued at 453 billion dollars. But Gazans have been denied around 47 billion dollars in revenue. As for Tel Aviv, it's gunning to become a new hub. At that moment in time, that is 2022, Russian oil and gas were sanctioned.

Neocon Queen Victoria Nuland Ends Her Reign: Exposing a Catastrophic Career

Glenn Greenwald    

Τυχαία γεγονότα στην τριτοκοσμική μπανανία των Βαλκανίων

failed evolution   1) Συμβαίνει το μεγαλύτερο σιδηροδρομικό δυστύχημα στην ιστορία της χώρας. 2) Γίνεται αστραπιαία επιχείρηση μοντάζ των συνομιλιών του σταθμάρχη από μηχανισμό του καθεστώτος, πριν ακόμα φτάσει στα χέρια των αρχών, προκειμένου να αποδοθεί η τραγωδία αποκλειστικά σε ανθρώπινο λάθος και να βγουν από το κάδρο οι πολιτικές ευθύνες ανώτατων κυβερνητικών αξιωματούχων. 3) Αναπαράγεται το παραποιημένο υλικό αστραπιαία από ναυαρχίδα της καθεστωτικής προπαγάνδας. 4) Τοποθετείται επικεφαλής στην επιτροπή-παρωδία πρωτοπαλίκαρο του καθεστώτος Μητσοτάκη που εργάζονταν παλιά στην ίδια αυτή ναυαρχίδα. 5) Η επιτροπή κλείνει άρον-άρον την υπόθεση αποκλείοντας ουσιώδεις μάρτυρες που είχαν προειδοποιήσει επανειλημμένα τον αρμόδιο υπουργό για τον κίνδυνο μεγάλου δυστυχήματος. Σταματάει έτσι και η όποια σε βάθος διερεύνηση για την τσιμεντοποίηση του χώρου και την απόπειρα συγκάλυψης της τραγωδίας.  

Το σκάσιμο της φούσκας Μητσοτάκη με νέα επίσημη χρεοκοπία και οριστικό τέλος της μεταπολίτευσης

του system failure   Τα αποτελέσματα των εκλογών της 25ης Ιουνίου ήταν λίγο-πολύ αναμενόμενα όσον αφορά τις πρώτες θέσεις με βάση και τα αποτελέσματα της πρώτης κάλπης του Μαίου. Αν συμπεριλάβουμε και το ποσοστό της αναμενόμενης αποχής, δεν μας έδωσαν κάποια ιδιαίτερη έκπληξη. Αυτό όμως που φαίνεται να αιφνιδίασε ακόμα και το συστημικό κατεστημένο, είναι η είσοδος των δύο υπερσυντηρητικών, ακροδεξιών κομμάτων Νίκη και Σπαρτιάτες, με το τελευταίο να έχει ξεκάθαρες διασυνδέσεις με τον πρώην Χρυσαυγίτη, Ηλία Κασιδιάρη. Παρά τη μεγάλη νίκη Μητσοτάκη, οι μιντιακοί ινστρούχτορες της καθεστωτικής προπαγάνδας εμφανίστηκαν σε γενικές γραμμές "μουδιασμένοι" και αυτό οφείλεται στο γεγονός ότι το συστημικό κατεστημένο (δηλαδή τα μεγάλα οικονομικά συμφέροντα που ελέγχουν και το σύνολο των μεγάλων ΜΜΕ πανελλαδικής εμβέλειας), πέτυχε μόνο έναν από τους τέσσερις μεγάλους στόχους που είχε θέσει εξ'αρχής. Μιλώντας με ποδοσφαιρικούς όρους, ουσιαστικά έχασε με σκορ 3-1.   Ο μεγάλος στόχος πο

The Shadowy, Intelligence-Linked Group Driving the US Towards War With Iran

"United Against Nuclear Iran does not miss an opportunity to try to bring the United States closer to a military conflict with Iran. And on the other side of the equation, they also have worked very hard to oppose efforts to de-escalate the U.S.-Iran relationship."   by Alan Macleod   Part 7 - A Lesson From History   The history of Iran has been intimately intertwined with the United States since at least 1953 when Washington orchestrated a successful coup against Prime Minister Mohammad Mosaddegh. Mosaddegh had refused U.S. demands to stamp out Communist influences in his country and had nationalized the nation’s oil. The U.S. installed Shah Mohammad Reza Pahlavi as a puppet ruler. An unpopular and authoritarian ruler, the Shah was overthrown in the Revolution of 1979. Since then, it has become a target for regime change, and its nuclear program is something of an obsession in the West. Often orchestrated by UANI officials while they were in government, the U.S. has carried

How the CIA oversees the Ukraine proxy war on Russia

Geopolitical Economy Report   Several reports in mainstream US media outlets show how the CIA has helped to direct the proxy war against Russia in Ukraine, and played a role in causing the conflict in the first place. Ben Norton examines the evidence.   Related: Confirmed: US imperialists wanted to drag Russia into a war with Ukraine since at least 2019

The Invasion of Gaza's Resources Begins: Jared Kushner, the EU, Egypt & US

Richard Medhurst   Jared Kushner, Donald Trump's son in law who previously tried to steal land in the Middle East from Arabs has said that Israel should empty the Gaza strip of civilians. He said that " Gaza's waterfront property could be very valuable ". He then proceeded to suggest ethnic cleansing: " move the people out and clean it [Gaza] up " Simultaneously, the transfer of billions of dollars from the European Union (7.4b EUR), the International Monetery Fund ($8b) and the United Arab Emirates ($32b) to Egypt: an attempt to buy Sisi's silence perhaps? The United States is also shipping 1000 troops and a firm "Fogbow", owned by a former CIA officer and USMC veteran, in order to build a pier in Gaza. These events do not seem like a coincidence. Medhurst explains why this relates to theft of gas and building of a canal in Gaza.   Related: Zionist and US imperialist criminals are about to grab the natural gas off shore Gaza

Israel Carries Out Most Sadistic Massacre, Opens Fire On Gaza Aid Convoy

Richard Medhurst