James Rickards once commented once that Bitcoin was like Madoff's scheme, but with no one in charge.
However, he recently wrote that perhaps there is "someone" in charge of it all along.
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Excerpt:
Yet the crypto-hysteria is distracting you from a scary truth no one is talking about. There is every indication that governments, regulators, tax authorities, and the global elite are moving in for the crypto-kill. The future of Bitcoin may be a dystopia in which Big Brother controls what’s called “the blockchain” and decides when and how you can buy or sell anything and everything.
– Furthermore, cryptocurrency technology could be the very mechanism used by global elites to replace the dollar based financial system.
…. Something similar is going on with Bitcoin and the Distributed ledger technology (DLT) today. Governments have been patiently watching blockchain technology develop and grow outside their control for the past eight years. –
Libertarian supporters of blockchain celebrate this lack of government control. Yet, their celebration is premature, and their belief in the sustainability of powerful systems outside government control is naïve. –
Governments don’t like competition especially when it comes to money. Governments know they cannot stop blockchain, in fact they don’t want to. What they want is to control it using powers of regulation, taxation, and investigation and ultimately more coercive powers including arrest and imprisonment of individuals who refuse to obey government mandates with regard to blockchain. …
A group of major companies, all regulated by government, have announced a joint effort to develop an open-source blockchain as a uniform standard for all blockchain applications. The group includes JPMorgan, Wells Fargo, State Street, SWIFT, Cisco, Accenture, the London Stock Exchange and Mitsubishi UFJ Financial. That’s not exactly five guys in hoodies working in a garage. That’s a sign of the corporate-state consortium taking over.
Hahaha, fiat blockchain, I can feel the heads exploding already.
Creepy, like a familiar science fiction novel plot.