HenryMakow.com – March 11, 2024
“If the people who control the Federal Reserve are perfectly willing to assassinate presidents and create wars in which millions of people are killed, crippled, and raped in order to maintain their monopoly of printing money, do you really think they’re going sit idly by and twiddle their thumbs while digital currencies spring up all around them and cut into their business? If so, I have a bridge I’d like to sell you.”
Bitcoin or Bit-con
by Mike Stone – (henrymakow.com)
Bitcoin hit an all-time high of $72,000 the other day. Doubtless that will bring out the greed in many people and lead to a high of $100,000 or more sometime this summer. Maybe even sooner. But is anyone asking why this is happening, and more importantly, why now?
I don’t own Bitcoin for the simple reason that it’s not based on anything of value. There are no coins, no bits, no nothing.
Bitcoin is a currency – hence the term “cryptocurrency” – but it’s not backed by gold or silver as the Constitution stipulates. It’s not backed by anything. I doubt if one Bitcoin buyer in a thousand actually knows that.
So if we’re going to be honest, the first thing we have to agree on is that Bitcoin is as worthless as the tulips that bankrupted 17th century Holland. At that time, the price for a tulip was equal to the cost of five average houses.
Actually, now that I think about it, Bitcoin is worth even less than a 17th century tulip, because tulips can be grown and they’re nice to look at. Bitcoin doesn’t exist at all. Its value is based entirely on public perception. And if you know anything about public perception, then you know that such perception is ALWAYS wrong and leads more people to ruin than anything else. Just look at how many people are now dead or seriously injured due to public perception of the recent virus hoax.
Of course, whenever one mentions that Bitcoin is worth even less than a tulip, thousands of Bitcoin buyers immediately take offense. But facts are facts. Bitcoin fits the very definition of a Ponzi scheme. It’s like a giant chain letter, where the first people to get in make out very nicely, while those at the end are left holding the bag.
Now just because Bitcoin is worthless, that doesn’t mean people can’t make money off it. But the unanswered question, the elephant in the room that nobody dares to talk about, is why? Why is Bitcoin so popular and why is it allowed to even exist?
QUI BONO?
It’s pretty obvious now that BITCOIN originated and still is used as a gold/silver investment diversion. Instead of buying precious metals, traders purchase an easily acquired though unbacked substitute. Imagine if all dollars invested in BITCOIN were to be used exclusively in the pm market. I hope the internet stays up and the guvs do not have back doors as Ben Fulford claims.
The other day I mentioned that Max Kaiser of the Kaiser Report on Russia Today, was a major proponent of Bitcoin, and he was recommeding his viewers to buy Bitcoin. Price: $1 Dollar.
Now me, being of highish moral standing, didn’t buy Bitcoin for $1 dollar a coin, and I stand by my decision.
I could’ve easily purchased £2000 worth, and I’d have made nearly, or there abouts, £1.4 million.
Why was this a moral decision? If something goes up in value, then something else goes down in value. Bitcoin or/& gold goes up, your £ in your pocket is worth less.
They pay you half the real rate of inflation, and the rich acquire assets, which makes the masses poorer.
Let’s say a market stall has 100 fish to sell, and some rich person buys 50 fish, just because they can afford it. The remaining 50 fish just got more expensive.
Sunak is worth £700 million, so he makes £21 million at 5%. This is without trying to make money. This is just passive money making. So he gets £21 million. He spends £1 million over the year. So what does a rich git do with £20 million, he buys assets, houses, land, and other properties. Everyone else is getting poorer, because they only get paid half the real rate of inflation.
It very easy to understand, but not for thicko sheeple. Meanwhile, you need to focus on the really important stuff, like CBDCs. lol, lol, lol
2013 called, it wants it’s talking points back.
“Tulips”…..?
Do some research.
All you need to know is that people talk about how many pounds or dollars thier bitcoin is worth, while no-one asks how many bitcoin their pounds or dollars are worth
I used to travel to Europe in the 90’s. To exchange my dollars into Guilders I’d use my Visa card at the ABN Amro and they would charge me a 1% transaction fee.
That’s why I never saw anything innovative about Bitcoin since back then I could transfer money overseas for a small charge.
Another problem with Bitcoin is that it is an energy hog and all the Bitcoin “mining” (notice how they use that term to link it to actual mining?) in the world uses more electricity than all of Argentina. And what do they have to show for it? Bits and zeros, No pile of gold whatsoever.
Lastly, if Bitcoin is a currency, hardly anybody uses it. And what good is a currency that fluctuates so much over time having risen to 60K, dropped to 16K and now is back at about 70K?
I agree with the author. Bitcoin makes no sense other than just the latest iteration of a financial scam and fad.
Yes, the stock market is bad, but bitcoin is the greater fool theory on steroids.
Don’t be the greater fool!
As Nico X explained all this before: “Toss the smartphones in the trash & their techno-Communist agenda evaporates–for the pornophone is the medium to institute/advance their various techno-Communist schemes (digital ID/CBDC/social credit etc) & implement their digital/mind control over individuals/humanity.
Bitcoin was created as an alternative to central bank and government controlled & created fiat currencies. Fiat, or “decreed”, currencies unless backed by gold or precious metals of some kind have no intrinsic worth, the same as any crypto currency, except fiat carries the central-bank imprimatur or seal of their own approval alleging they are actually worth whatever they say it is worth by the value number on the bill. A $1 bill is allegedly worth $1 of paper or digital credit. However, Bitcoin value is not subject to such precarious diktats fiats which which is made out of nothing to paper over virtually all deficits.
Fiat currencies work as a reliable medium of exchange as long as we can “trust” them for what they say they are, or if not then until there is some crisis where there is so much of the stuff around where it becomes worthless. Even if backed by gold at various at times bankster-government-made fiat currencies have only been fractionally backed, such that if there was every a “run” on them it is most likely the people would not really get any real gold for them anyway.
The value of fiat is controlled and manipulated by various oligarchs, sometimes referred to as, “the money power”. However, they do have to work with our governments who are constantly going to them for more of the stuff. Having control of this magic money power, the leading ring of oligarchs create as much as our governments demand in exchange for bonds, or “treasuries”, which are the wild promises to pay the oligarchs back in whatever assets our nations may own. Of course, the bankster families which own this great privilege are really very generous. They never really expect to get repaid the principal in trillions and trillions “borrowed” by our governments and showered down on to us. They only receive the interest which over time in any case amounts to trillions and trillions.
The Mary Poppins banking nerve center of the world is the City of London, and other than approving the production of more and more fiat to paper over all of the various kiting operations and failures in our financial systems, their main service is to preserve the delicate balance between the supply and demand of our currencies as they are constantly debased. Doing such preserves just enough of its value to keep things running, which to the common man trying to be a provider, and maintain a roof over his family and feed them, is at least in the West of losing proposition.
The problem with the present monitory system which is really owed by a very privileged “Few”, is that it is very corrupt, as is everything else in any centralized corridor of power with so many closed doors of privilege and secrecy. The entire system is also subject to much insider favoritism, just through the fact that whenever vast amounts of fiat are needed to be produced out of nothing, or interest rates to be juggled, the insiders and their friends know well in advance what to buy and sell and where to put their private holdings. In fact, they have become so powerful through doing this that it is said “they control the markets”.
Today, it is apparent that for any nation to “succeed” in the world economy that they must have one of those “central banks” thingies running things. In order for the bankster-created communist nations, it was also necessary for them to have central banks in order for their people and the central bankster owners to share in (i.e., “to eat up”) and enjoy the fruits of our Western economies. The people of both Russia and China after decades of indoctrination finally learned that there were essentially only two classes of people, those on top and themselves. That done, all they needed were a number of billionaires both from Western oligarch stock and some from their own stock, to make the systems work and blend in with the Western economies. Of course, with all of the outsourcing to a most compliant China each of our nations were quickly turned form being creditor nations to debtor nations in the space of 20 years. Papering over with more and more fiat production, the vast trade foreign imbalances and the domestic deficit financing resulting from the outsourcing of virtually everything, the bankster oligarchs of the West have decided to become “internationalists” and “coincidentally” are found to be the major backers and benefactors of the UN Agendas and the WEF mainly with more fiat made out of nothing. That is after debt-rigging us more and more and milking us dry with so-called “free trade” they propose a global financial system in which their central banks and themselves will retain the money power and be in compete control of virtually everything.
Central-bank banksters are the supreme “insiders”. Apart from the more global banksters above them in the financial pecking order, in any nation their powers have enabled them to concentrate and consolidate vast amounts of wealth and power to themselves and their friends. They have used the system to indebt our nations and future generations to them mainly through usury, and through their more indirect control of economic of economic trends which is always parcel of great wealth.
Bitcoin is only fledging as a digital medium of currency exchange. Its intrinsic worth is much like fiat in that it is subject to the demand for it, which is based not just on its use as a medium of exchange, but also in its property of its value NOT being able to be dissipated at the will of its owners in being able to create vast amounts of it out of nothing. Also, its ownership controls over it is not centralized as with our fiat currencies such that if a bank failed our assets would disappear.
Bitcoin is spread out over the entire internet and knows no borders. It is owned directly by anyone with a wallet or who wants it kept in an exchange. As a currency it is a medium of exchange suited to the digital age. Its ownership and use is not controlled or centralized by the banksters who control everything else, although admittedly, it could be if they had enough of it, in the sense that they could perhaps corner the market and control its value. That is probably what they are up to with it right now.
Bitcoin unlike other crypto currencies and fiat is unique in that there are only 21 million unique digital codes which mathematical correspond to the Bitcoin digital family. That is, only 21 million can be “mined”. Last I heard, companies doing the mining have isolated around 18 million of them, with the final ones being more difficult to isolate and requiring more and more computer power and expertise to isolate. Bitcoin, on the other hand, is infinitely divisible such that if you wanted $100 or $7.32 of Bitcoin you can buy it. With crypto platforms such as Ethereum and cryptos designed for fast and cheap transfers, Bitcoin will likely be used as some kind of digital-value benchmark. Internationally, it can be used to stabilize or balance run-away government borrowing with fiat made out of nothing as it is turned more and more into digital transactions. That is, if a currency is to be debased where the owners’ holdings are disappearing through digital fiat inflation, the bitcoin number will be the same and holders will at least have some currency security rather than having to horde gold or diamonds, which based on modern technology and alchemy their quantities may be unlimited and hard to control.
Each to their own but I’ve never been attracted to crypto. You can’t actually hold it, and if your computer dies as several of mine have done then you lose it all. Sure, I’d have seen big growth in my investment but as I’m not that cash-driven I’m not too bothered.
But like one big investor said (I forget which one), “The secret to making money is knowing when to sell. Sell off some of your assets every once in a while to realise your gains, then you can re-invest some of your cash back into the same commodity if it’s still attractive.” And as crypto rises people will hold onto it “just a little bit longer” – then they can lose it all and regret not selling to the bears when the red lights started flashing. He said it’s holding onto it that little bit too long that causes most losses.
When that day comes at least I’ll lose nothing.
There is a rumour doing the rounds that Tricky has been offed and our Dear Nixon has been replaced with an imposter who will now take over the duties of webmaster by promoting LGBTQ and Trans Rights here on the Truthseeker.
Come back Tricky we need you!
Fred Bitcoin…worthless
Let’s just go back to Tally Sticks. The system really works, though mYbe not globally.
crypto is the way to create a currency collapse using tokens instead of fiat currencies. They pump it up in fed notes value, create treasury dollars equal 1:1 with notes, get everyone to pay 72k in notes for 1 bitcoin, then at some point down the road they make selling bitcoin for notes illegal, and set the exchange rate for bitcoin to treasury dollars 8.37 per bitcoin. Instant wipeout of a huge portion of the circulating notes. Whoevers left holding bitcoin when the music stops, sees that value wiped out, which is probably why they got bitcoin ETF’s legalized and corporations are rushing to invest…