Bitcoin: What People are Saying
“JP Morgan, along with the entire finance sector, has been subsidized by the Federal Reserve’s corrupt practice of ‘financial repression’ that moves hundreds of billions from savers and pensioners, and workers, into JP Morgan and Jamie Dimon’s pocket. Jamie’s compensation is tied directly to manipulating JP Morgan’s stock and option prices, thanks to the Fed’s conflicted, corrupt, cozy malfeasance,” he told RT.
It’s good to see that the grown-ups are finally speaking out on some of the nonsense going on in the financial world.
“…if you want to talk about money created out of thin air, how about the trillions created by the Fed in 2009 that was used in part to bail out JP Morgan? In fact, the bailouts of Morgan began before most of the rest of the country knew there was a housing crisis in 2008. But actually, this isn’t particularly new: Morgan has been working tightly with government for more than a century…”
Bitcoin prices are now down more than 20% from the record high of $4,969.00 set on September 2, pushing into what market analysts would traditionally label as a bear market. – Investing.com
That’s not to say there’s not a use for Bitcoin; plenty of creative — and wholly legitimate — uses have been put into place by those who find U.S. dollar-denominated exchanges inconvenient. Yet its value has risen over 300% in 2017, and that, according to people like Dimon, is a recipe for disaster. Wherever you stand on this issue, it should be heartening to see some self-regulation going on within the marketplace, at least here in the U.S. – Mark Vikery, Zacks
Computer programmer John McAfee told Jamie Dimon, CEO of JPMorgan to value Bitcoin and the work that goes into making the virtual currency.
Call me crazy (@mrgreene1977 on Twitter, if you’d like to) but I still see $10,000 in Bitcoin’s future, despite China raining on the money-parade.
It’s no secret JPMorgan Chase Chief Executive Jamie Dimon doesn’t like Bitcoin. On Tuesday he made his feelings even clearer, promising to fire any trader that traded the digital currency and even mocking his own daughter for buying into the craze.
At least in one respect, Dimon is probably correct. “Governments like to control their money supply,” as he put it. The U.S. government can track and oversee economic activity carried out in U.S. dollars, which helps it investigate and punish lawbreaking. If a large part of the economic activity under the U.S. government’s jurisdiction winds up being conducted in bitcoin instead, that could severely undermine law enforcement. For that reason, the American government — or the Chinese government, or any other major government — is something of a natural antagonist for bitcoin. – Jeff Spross, The Week
And last but not least, my personal favorite, let me introduce Jason Bloomberg from Forbes. When I read this one, I smiled, took a sip of my wine, logged into Coinbase and purchased more bitcoin: