Just when I thought that maybe, just maybe, someone would have made clear to Jamie Demon and the rest of the world that government backed fiat currencies - operating fractional reserve banking - are PURE fraud... And that maybe he would back off from his previous comments claiming that bitcoin is a scam.. NOPE!
A few days ago, I covered how Jamie Dimon (Head of investment bank JP Morgan) claimed publicly that Bitcoin is a scam. He called his own daughter a fool and sent shockwaves through the markets that caused the price of Bitcoin to nosedive. I then posted a timely reminder in my whistleblower series that JP Morgan was responsible for some of the largest financial fraud ever perpetrated on Earth. It's also worth remembering that in 2013 JP Morgan filed patents for their own version of a Bitcoin like cryptocurrency!
Additionally, there is a public job advert on JP Morgan Chase's website for a Blockchain engineer - hmmm!
Soon after, reports came out claiming to show that JP Morgan was actually heavily trading in Bitcoins despite Jamie claiming that any JP Morgan trader caught trading Bitcoins would be fired. JP Morgan issued a statement that what was visible on the screenshot was actually JP Morgan's clients trading in Bitcoin, using JP Morgan's 'pipes' to perform the trades and not trades actually performed by JP Morgan's own traders. However, obviously it would be easy for them to make such a claim while covertly making the trades themselves or via friends/family members. The point here is that massive money could be made and lost during the dip in cryptocurrency value made after Dimon's comments and making profits is JP Morgan's sole purpose for existence.
Charges for Jamie and the latest nonsense
Today, a story on cnbc states that charges have been brought against Jamie directly in Sweden for market manipulation and spreading misinformation. But even that hasn't stopped his mouth from leaking more nonsense.. And today's quotes are the best/worst yet!
"Cryptocurrencies are a novelty".
"Cryptocurrencies are worth nothing".
"It's creating something out of nothing that to me is worth nothing," he said. "It will end badly."
And my personal favourite -
"Creating money out of thin air without government backing is very different from money with government backing."
LOL
For those paying attention, one of the main attractions of cryptocurrency is precisely that it is NOT part of the totally fraudulent system of fiat money creation that has long been the infinite 'wealth generation system' used by the criminal central bankers to maintain their position at the top of their artificial pyramids.
Empirical, Scientific Evidence that Banks Create MONEY OUT OF NOTHING AND CHARGE INTEREST ON IT!
It is mind boggling that these bankers have the gall to try to project that cryptocurrency is dishonest because it is made out of 'nothing' (e.g. not backed by 'something' material) - when the entire paper money currency system is exactly the same! Furthermore, the fiat money systems are WORSE because most of the 'money' in the system is made up of DEBT and the interest charges cannot be repaid.
I posted a while back about the world's first scientific study performed by a German Economics Professor that proved that banks really do create 'money out of nothing'! While cryptocurrency might not be backed with the tears of a weeping Mother Mary or the Sweat From the brow of Zeus, they do at least not rely on outright fraud and government supported brainwashing to perpetuate themselves.
No-one is going to bail out cryptocurrencies
Jamie is implying that there is no safety net with cryptocurrencies and that is to some extent correct - it IS possible to lose money by accident with cryptocurrencies. HOWEVER, cryptocurrencies have no track record of failure like his bank does and no record of criminality like his bank does. Further, cryptocurrencies have no risk of costing the taxpayers billions in bailout fees, like his bank does!
In short, his criticisms have all the integrity of a serial killer pointing at a driver on the road, saying "he might kill someone with that car one day... you're an idiot to trust him"!
Wishing you well,
Ura Soul
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