In their newest report, Max Keiser and spouse Stacy Herbert kick off by discussing a latest word by JPMorgan to its shoppers. One of essentially the most corrupt establishments of our time proclaims that cryptocurrencies would solely have worth in a ‘dystopian economy’ through which buyers had ‘lost all confidence in all major reserve assets.’ Max, naturally, fights again.
Bitcoin Was Born Out of Dystopia
The assertion from the financial institution partially chargeable for the 2008 monetary disaster fails to choose up on the irony.
After all, Bitcoin was born out of a dystopia brought on by giant banks like JPMorgan that then needed to be bailed out with taxpayer cash. Keiser says:
The worth of Bitcoin at the moment displays the extent of ‘dystopianism’ that we’re at the moment experiencing… JPMorgan and different banks are rogue banks which can be committing huge fraud they usually’ve bought the central banks on behalf of us, the taxpayers, to print numerous fiat cash to bail them out despite the fact that it signifies that the general wellbeing of society is being destroyed.
According to Keiser, JPMorgan is the primary beneficiary of the fraud. He says that Jamie Dimon’s internet value crossed over $1 billion “by nickel and diming people to death.”
We already know the way extremely Keiser holds JPMorgan and Jamie Dimon in his esteem.
“Always have at least 90% of your port in Bitcoin. Anything less and you’re undermining Bitcoin’s ability to defeat fiat. Leave alts to dickheads like Jamie Dimon,” he instructed Bitcoinist final December.
The Yellow Vests in France
Keiser then made a reference to the Yellow Vest protests in France. Despite the picture circulating the online of 1 protester carrying an indication saying “Buy Bitcoin,” they might not be in regards to the cryptocurrency in any respect.
However, the protests do replicate deep-seated social unrest brought on by rising inflation. And the truth that it’s the identical previous story on repeat. The wealthy get richer and the poor get poorer.
It’s not a phenomenon restricted to France, and even creating nations in Latin America or Asia, both. According to the Federal Reserve, within the United States, youthful Americans have earned much less during the last 30 years. The older ones, then again, earn extra.
The Great Wealth Divergence:
Over the final 30 years, youthful Americans (as an age group) have develop into poorer and older Americans have develop into richerhttps://t.co/IrC9NRVIet pic.twitter.com/cXMpN0hbt8
— Conrad Hackett (@conradhackett) January 28, 2019
Max Keiser Drives It Home
Pouring scorn on the World Gold Council report that claims to show that Bitcoin shouldn’t be a secure harbor asset and is not any substitute for gold, Keiser vehemently disagrees.
To actually get Satoshi’s imaginative and prescient, it’s peer-to-peer gold… that’s what Bitcoin accomplishes, that’s what Bitcoin is, battle me on this, go forward, however you’re mistaken.
He additionally went on to say that Bitcoin as digital money was “negligible,” however that as digital gold it was world-changing.
#Bitcoin as unparalleled digital Gold is world altering. Bitcoin as ‘digital cash’ is negligible.
— Max Keiser, tweet poet. (@maxkeiser) January 31, 2019
This tweet provoked loads of reactions, from folks claiming that Bitcoin’s very perform was as digital money and that it was a peer-to-peer digital money system.
Others responded, “It is a commodity like gold, but it MUST function as MONEY to allow the world to leave the existing corrupt fiat system.”
And others questioned whether or not Keiser was drunk or if his account had been hacked.
But they need to anticipate that from the eccentric, outspoken Bitcoin evangelist by now. Max Keiser is nothing if not controversial.
Do you agree with Max Keiser that Bicoin is P2P gold? Share your ideas under!
Images courtesy of Shutterstock, Twitter/@maxkeiser
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