Bitcoins don’t really exist. (More on that in a minute.)
Quantitative Easing (QE) Part Three money does not exist.
Every month, Fed Chairman Ben Bernanke sits as a computer and types in $65,000,000,000 or even $85,000,000,000, then “sends” it to the stock market. The invisible money will eventually materialize when taxpayers will have to fill with tax dollars the cavern he has created .
The scary part of Uncle Ben’s play money is that every time he blinks, winks, sneezes or coughs, the stock market leaps – up when he says the money will keep on coming – down when he suggests it has got to end some day.
(WIKIPEDIA) “On June 19, 2013, Ben Bernanke announced a “tapering” of some of its QE policies contingent upon continued positive economic data. Specifically, he said that the Fed would scale back its bond purchases from $85 billion to $65 billion a month during the upcoming September 2013 policy meeting. He also suggested that the bond buying program could wrap up by mid-2014. While Bernanke did not announce an interest rate hike, he suggested that if inflation follows a 2% target rate and unemployment decreases to 6.5%, the Fed would likely start raising rates. The stock markets dropped approximately 4.3% over the three trading days following Bernanke’s announcement, with the Dow Jones dropping 659 points between June 19 and 24, closing at 14,660 at the end of the day on June 24.” (1)
A trillion here, a trillion there, and pretty soon we are talking real money. This paper house can not possibly stand once the wolves start huffing and puffing at our door. What Uncle Ben hath levitated with magic, must certainly come crashing down.
Meanwhile, in a another part of the kingdom,
(FOXNEWS) THE FEDS ARE STARTING TO CRACK DOWN ON SO-CALLED VIRTUAL CURRENCY – ELECTRONIC MONEY – (including Bitcoins).
UNLIKE TRADITIONAL CURRENCY, THEY DON’T HAVE THE BACKING OF ANY COUNTRY’S CENTRAL BANK BUT FOLKS USE THEM TO BUY COATS AND CARS AND ILLEGAL DRUGS AND GUNS, AND BECAUSE THE BIT COINS HAVE NO CENTRAL SERVER, IT’S IMPOSSIBLE TO TRACK THEM OR THE THINGS THEY BUY. BITCOINS WERE CREATED IN 2009 AND HAVE TAKEN OFF. THERE ARE NOW MORE THAN 11 AND A HALF MILLION BIT COINS IN CIRCULATION AND NEARLY 22 MILLION BITCOIN TRANSACTIONS TODAY.
ORIGINALLY YOU COULD EXCHANGE 1300 BITCOINS FOR A DOLLAR. NOW ONE BIT-COIN IS WORTH $113.
A SENATE COMMITTEE OPENED AN INVESTIGATION AND NEW YORK’S FINANCIAL REGULATORS ARE INVESTIGATING THE COMPANIES INVOLVED IN THE BITCOIN.
THERE’S NO WAY FEDERAL REGULATORS WILL STAND FOR THIS. IT’S NOT JUST THE IRS. IT’S THE FBI AND EVERY OTHER LAW ENFORCEMENT AGENCY IN THE COUNTRY.
THOUSANDS, POSSIBLY THOUSANDS OF PEOPLE ARE USING TO IT TO BY THINGS ONLINE AND BUY DRUGS AND RUN CRIMINAL ORGANIZATIONS. BEING ABLE TO PUT REAL MONEY INTO THE SYSTEM. . . . BASICALLY LAUNDERING YOUR MONEY, AND THEN BUYING REAL THINGS AND SELLING THEM, AND THEN PULLING OUT THE MONEY WHERE IT’S CLEAN. HOW DO THEY STOP IT – MAKE IT ILLEGAL.(2)
Now then, in whom do you trust – Bitcoin or Uncle Ben?