The Federal Reserve is not happy about Bitcoin. Not happy at all. Rumours are that Bitcoin scares the shit out of them.
And why shouldn’t it? Bitcoin is everything that the dollar is not. It is debt free. It is not owned and controlled by a central bank. It does not belong to the Rothschilds. It is not backed by no longer existent gold reserves. Instead it is backed by the millions of people who own and use it.
So what is the Fed up to?
The dollar is so up to its neck in debt that America runs a debt-based economy, borrowing more from the Fed every year, just to pay interest on a debt that it is impossible to pay off, and is growing every year. Bitcoin is a distributed blockchain technology cryptocurrency. The dollar is fiat – old-fashioned, out of date, and in real terms, only worth the paper it is printed on, because America has spent most of its gold, and cannot repay the gold to countries who asked the US to keep it safe for them. Instead of keeping it safe, the USA may have repeatedly sold the same gold to multiple countries. But they didn’t give those countries the gold. Instead, they said, ‘Here is this paper guarantee. We will hold the gold for you and keep it safe’. But they didn’t. They didn’t even have the gold they were selling. So to repeat, in case you didn’t know, because the Fed have not released this information to the public: Federal Reserve News—the dollar is worthless.
If America was part of Europe it would have been declared bankrupt years ago. You absolutely cannot argue with that. The debt of Spain, Greece, Italy, Cyprus, and other semi-bankrupt states combined, does not compare to the debt of any Federal Bank. That doesn’t impress me much!
Of course, it’s actually all unnecessary, but the people who have tried to change US dependence on the Central Banks have been killed very quickly. It happened to Lincoln and Kennedy when they decided to stop borrowing, and print their own money. The day after JFK was killed, the greenbacks he had issued were withdrawn and pulped.
I could go on… The day after Colonel Gaddafi said he was no longer going to accept the US dollar as payment for oil, the UN declared a no-fly zone over Libya, and Nato proceeded to bomb Libya out of existence. The central banks rule! I could go on again, but I won’t. Some things you don’t say if you want to live to fight another day…
So where does that leave Bitcoin? BitCoin.com says, referring to Federal Reserve News:
In June 2016, central bankers from 90-some countries met behind closed doors in Washington D.C. and conferred with Bitcoin experts. Federal Reserve Chair Janet Yellen opened the conference, which included the International Monetary Fund, the World Bank and Bank for International Settlements.
It seems that if all goes according to the Fed plan, they will issue their own cryptocurrency, but tied to the value of the dollar. So you won’t be able to buy FEDCOIN, or whatever they decide to call it, put it in your wallet and watch its value accumulate. Instead, the value will be exactly a dollar per FEDCOIN. When the dollar crashes, and it eventually will, your FEDCOIN will crash in value too.
Now, the Fed will be pushing their agenda very hard, getting the banks to adopt it, not only in the USA, but everywhere in the world as a substitute for fiat currency. It will happen within a few years. They have already been planning it for a few years, but they want to get things right, you know what I mean… Silence opposition. Build a few bridges—with bodies inside them… If they can kill JFK, they can kill anyone!
And the Fed will absolutely control their new coin, knowing the details of every holder of FEDCOIN, how much of it they own, what they are spending it on, and who and to where they transfer their coins. That gives them absolute control. FEDCOIN will not be based on distributed blockchain technology. Instead it will be restricted blockchain, based in some type of Fort Knox-like facility, and if they decide to confiscate your money for some arbitrary reason, or say, freeze it to make you comply with some rule, they will have the absolute power and authority to do just that.
I don’t buy into that! I don’t like it one bit!
I think every free person in the world should oppose it, because I can see a future where your bank will not allow transfers for, say Bitcoin or Ether unless you use FEDCOIN or perhaps some European equivalent, to do the transaction.
And to do that, you’ll have to apply for the right. And to apply you may have to provide them with everything from your personal ID to your login details for any crypto-wallet you hold. The Fed could even make it illegal to mine crypto, and impose sanctions on any country that allows it.
Unless, of course, you oppose the plans. It is not impossible to beat the Central Banks. But be careful. Don’t be too vocal. Don’t get yourself killed for opposing the most powerful force in the world. Just quietly resist. Just don’t deal in FEDCOIN. Until you start getting paid in it, of course!
Just my opinion! You may have different views. I just think that if you are going for a job, or your existing employer tries to change your terms of employment so that you get paid in a government-owned and controlled cryptocurrency, if you agreed to that you’d become a slave to the system.