Posted on 03/21/2013 8:23:52 PM PDT by 2ndDivisionVet
Last November, in an act of sheer monetary desperation, the ECB issued an exhaustive, and quite ridiculous, pamphlet titled "Virtual Currency Schemes" in which it mocked and warned about the "ponziness" of such electronic currencies as BitCoin. Why a central bank would stoop so "low" to even acknowledge what no "self-respecting" (sic) PhD-clad economist would even discuss, drunk and slurring, at cocktail parties, remains a mystery to this day. However, that it did so over fears the official artificial currency of the insolvent continent, the EUR, may be becoming even more "ponzi" than the BitCoins the ECB was warning about, was clear to everyone involved who saw right through the cheap propaganda attempt. Feel free to ask any Cypriot if they would now rather have their money in locked up Euros, or in "ponzi" yet freely transferable, unregulated BitCoins.
Therein, sadly, lies the rub.
As central banks have been able to manipulate the price of precious metals for decades, using a countless plethora of blatant and not so blatant trading techniques, whether involving "banging the close", abusing the London AM fix, rehypothecating and leasing out claims on gold to short and re-short the underlying, creating paper gold exposure out of thin air with which to suppress deliverable prices, or simply engaging in any other heretofore unknown illegal activity, the parabolic surge in gold and silver has, at least for the time being - and especially since the infamous, and demoralizing May 1, 2011 silver smackdown - lost its mojo.......
For the answer, we present the chart showing the price of BitCoin in EUR terms since the issuance of the ECB's paper:
(Excerpt) Read more at zerohedge.com ...
Of course they want to reg Bitcoin, because they can’t control it!
somebody please explaim bitcom
Like feudalism, the lords of the manors have to make sure the peasants stay bound to the lords’ lands.
The peasants are indentured by contrived debts and forbidden to acquire their own land or even trade with silver or gold IF they have any.
Bitcoin, like gold or silver, breaks the chains and busts the gate wide open....therefore it must be banned.
That’s why it’s called “Real Estate” (Royal or the King’s Land) I suppose.
National governments should be the creators of money in a public and transparent fashion. The economic reasoning is simple; money needs to be earned by individuals instead of the printed up by them. The transparency of government money creation enables the citizenry to exert political pressure to stop runaway money creation.
Bitcoin creation is algorithmic, which is the right idea, but the algorithm need not be complex. Government should simply maintain a money supply (real currenct, not amounts held “on account”) that in the aggregate is a simple percentage of aggregate national private sector wealth, bearing in mind transaction volume / money velocity if as necessary.
The governments of America and Europe were corrupted by money interests to transfer that role to central banks that were the design of the money interests.
We can see that with America’s “Fed” being the money creator for US dollars, the general public is purposely kept in the dark about exactly how much money the Fed creates. Much more importantly, though, and the real secret of the “money interests” who conspired to create the Federal Reserve, is the control money interests have over governments when governments borrow, and use them as the exclusive brokers of their borrowing.
This is the real strategy of the money interests, to have themselves be the market makers for sovereign debt.
At this point, these money interests basically control the capital markets, i.e., publicly-traded stocks, bonds, commodities, as well as most wealth management for high-net worth individuals.
The only real solution is for citizens to “take back” their own governments from the control of the money interests.
Taking back control of their government will enable them to abolish the Fed and return to the Treasury the role of creating dollars, and doing so in a public fashion.
This will obviate the need for the government to borrow, thus freeing the government from its credit brokers, the money interests.
It’s and easy change to implement, but it’s difficult to get Congress and a President to vote for such a change, because they are mostly either supported by the money interests or they are their closest advisors.
The money interests stir up as much emotion and confusion over this issue in order to obfuscate what they are really doing, which is simply indebting the citizenry through their own government.
The European nations, of course, each need the same solution for themselves.
Once the citizenry take back their government, international trade and finance needs to be brought under control of said government. Right now, international finance controls the government instead of the other way around. And unrestrained international trade enables these “money interests” to grow their power over governments.
Yes, money interests would be new world order, the foundation system, etc.
What is BitCoin?
A bitcoin is a unique number registered on bitcoin servers. The numbers are derived by computer algorithm, not all numbers are valid bitcoins. It is kind of like assigning prime numbers a trade-able value.
These numbers can be traded from one individual to another, or traded for goods, in any way money can be used.
In order to find valid numbers, you can run a computer algorithm on your computer, and when it finds a valid number, it registers it with the bitcoin server. If you are the first to try to register the number, it becomes yours, and has real value.
The analogy of gold mining is used to explain it. If you dig in the ground and find gold, you have created value. If you run your algorithm and find a valid number, you have also "mined" value.
In Spain, The Bitcoin Run Has Started
http://www.zerohedge.com/news/2013-03-20/spain-bitcoin-run-has-started
ONLY ONE FELLOW IN TEN THOUSAND UNDERSTANDS THE CURRENCY QUESTION, AND WE MEET HIM EVERY DAY. KIN HUBBARD
As quoted in the heading for chapter 15, Prices and Money, of Samuelson's ECONOMICS - 1967 edition.
“Control”
by Mr. Mister
http://www.youtube.com/watch?v=7JcZRQS8WSQ
This is about control, it’s about vision
My vision, my mission
Don’t tell me about what you think
‘Cause I don’t care, no, I don’t care
We all want control of our destiny
We all want control of our lives
We all want control of each other
We all see the fear in our eyes
An old man was sitting on a corner
We couldn’t remember where he lived
I felt so sad until he told me
He knew where he was and that was enough for him
We all want control of our destiny
We all want control of our lives
We all want control of each other
We all see the fear in our eyes
Open my eyes to it
I can see that way too
Open your eyes to it
You can see that way too
We all want control of our destiny
We all want control of our lives
We all want control of each other
We all see the fear in our eyes
We all want control
We all want control
We all want control
We all want control
So Pokeman is fine?
The peasants must not be allowed to create their own solvent currency. They must only be allowed to use the banksters’ currency, so that their wealth can be taken from them.
why is that valuable? what use is it?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.