BIS Chief Hates Crypto, Says "Stop Trying to Create Money!"

in #bitcoin6 years ago

We all need jobs, right? The poor banksters too. Who would want to get in the way of international banksters and their monopoly on the ability to create money. How foolish of us to try to find ways to escape their stranglehold.

The Bank for International Settlements (BIS) is known as the central banks' central bank. The newly appointed general manager of the BIS is Agustín Carstens. He's previously said bitcoin is "a bubble, a Ponzi scheme, and an environmental disaster."


Modified from flickr, Credit: Eneas De Troya, CC BY 2.0

Carstens doesn't like how the younger generation is adopting bitcoin and crypto, and moving away from the influence and control of the traditional financial systems. Now, in a recent interview for the Swiss German-language newspaper Basler Zeitung, he's flat-out saying "stop trying to create money!"

It might just sound like he thinks the younger people are foolish, along the lines of "those crazy kids and their bitcoins, when will they ever learn?" But he doesn't like the threat that cryptocurrency poses to the international banking cartel that is a hidden hand of power in the world.

The BIS predates both the IMF and the World Bank. It was founded in 1930 with the goal to "promote the cooperation of central banks and to provide additional facilities for international financial operations." It's an international organization, extremely profitable, and a research institute that's founded and protected by international treaties. It's customers and shareholders are central banks, which the BIS also guides the operations of.

When it comes to groups that are alleged to control the world, historical record show that the BIS is a secretive group the determines the fate of over 7 billion people while hardly being paid much attention to and hiding in plain sight. It's essentially the secret bank that runs the world.

It makes sense that the head of the BIS is trashing bitcoin. He wants to keep his fat fingers on the pulse of nations, and squeeze the veins to control them. He said it's a mistake to try to create money, since even the great Isaac Newton failed at it:

"Glance back into the past and you will see that creating gold or money from nothing has been a regular obsession. It never worked. Even the great physicist Isaac Newton was at one point in his life obsessed by alchemy and the idea of making gold. He was very successful in a number of fields, but in this one he failed. Newton ended up as head of the British Mint. Why? Because he could detect at once if a coin was counterfeit. After he failed in his attempt to make gold, he switched sides and sent counterfeiters to prison. So my message to young people would be: Stop trying to create money!"

It seems Carstens is trying to railroad cryptocurrency into a strawman of being easily counterfeited. He also tried to derail interest in crypto by advising young people to pursue something better than this apparent asset class that doesn't satisfy any purpose of money.

Either he doesn't understand what is talking about, or he's lying through his teeth. I don't think the head of the BIS is that ignorant about crypto or how money can be anything. It's more likely that this is a desperate attempt to flail and run around trying to create fear, uncertainty and doubt in the minds of those who are still on the fence.

To show how he is straight up spreading falsity, or outright lying, he said:

"Young people should use their many talents and skills for innovation, not reinventing money. It's a fallacy to think money can be created from nothing"

I mean, come on Carstens, are you serious? Fiat money is all about being created from nothing. He's putting out bullshit propaganda that a form of money can't be made better than Fiat money, and implicitly makes the claim that Fiat money is not made from nothing, while cryptocurrency is. At least cryptocurrency is out of the direct control of his and the banksters money-grubbing hands.

Carstens argues that only central banks are to be "trusted" to be in charge of creating money, and that there is no viable substitute for the role central banks provide in the world economy, saying: "I can't imagine something coming along any time soon that would be more efficient and generate the same level of trust"


Thank you for your time and attention. Peace.


If you appreciate and value the content, please consider: Upvoting, Sharing or Reblogging below.
Follow me for more content to come!


My goal is to share knowledge, truth and moral understanding in order to help change the world for the better. If you appreciate and value what I do, please consider supporting me as a Steem Witness by voting for me at the bottom of the Witness page.

Sort:  

Not even fiat can be created from "nothing".

It takes "confidence" in the imposing structures of the fiat issuing authority, or the threat of a captive government violence monopoly. The captive governments makelaws that taxes must be paid in the banker issued "fiat" which is required to make their money viable.

On the same line of thought, it takes "confidence" in the blockchain and an internet infrastructure to make the new crypto monies work (they are not created out of "nothing" either).

But within the fiat system we have now, digital money are created out of nothing.

The "nothing" part refers to not being gold, a something in itself. It comes from somewhere that already existed. Creating fiat or crypto didn't exist before, whereas gold did ;)

Curated for #informationwar (by @openparadigm)

  • Our purpose is to encourage posts discussing Information War, Propaganda, Disinformation and other false narratives. We currently have over 7,500 Steem Power and 20+ people following the curation trail to support our mission.

  • Join our discord and chat with 150+ fellow Informationwar Activists.

  • Connect with fellow Informationwar writers in our Roll Call! InformationWar - Contributing Writers/Supporters: Roll Call Pt 8

Ways you can help the @informationwar

  • Upvote this comment.
  • Delegate Steem Power. 25 SP 50 SP 100 SP
  • Join the curation trail here.
  • Tutorials on all ways to support us and useful resources here

I think it is all an act when the banks pretend to fear crypto currency. Their ability to create fiat out of nothing and invest in crypto to their hearts content means they can dominate and control the exchange markets (as I suspect they did in the winter bull run) anytime they wish.

True, but you are only thinking short-term. Imagine they buy out a cryptocurrency and corrupt it. They just made all the early adopters rich. Is this a group of people who they want to have even more power?

Everyone is free to leave the corrupted crypto behind and the one's left holding the bag are the banksters who tried to buy it out. Rinse and repeat. They only have short-term control, and that control simply revolves around delaying mainstream adoption. What better way than to pump up the space, hype it, and then dump, causing all those hyped up people to lose their money.

If the whales simply refuse to sell to the banksters the price of crypto will moon out of control instantly. The entire space is connected. A pump in one coin is going to pump them all. Will they really risk funding the entire operation just to see it backfire in their own faces?

I think the whole net neutrality issue will come into play soon. ISPs are going to start banning crypto stuff directly. This will incentivize decentralized internet. Bad in the short term, good for the long run. The banksters have no end game and they know it.

Debt-based economy is unsustainable and on it's last legs. The next recession, combined with automation, is going to crush the working class. The establishment has no solution to bring balance to the economy. They only thrive during phases of cancerous growth.

Crypto offers solutions, but the establishment doesn't like them because they no longer get to be in charge. So round and round this whirlpool of a toilet we go until we finally have the means to flush them out of power.

Hey, thanks for taking time for such a lengthy reply. I fear mine was going to be lengthier, so created a post I am hoping you could address my concerns on, so as not to hijack this post here. You appear knowledgeable on crypto, whereas my expertise lies more in the realm of the bankers and economies under their direction. I would be honored if you find the time to address my views.

Yeah sometimes I start typing and I just don't stop lol.

yes they can dominate crypto. But are they? We may never know until it's too late :/

Exactly! (see more on this with my new post on the subject - link below)

He says it's "a bubble, ponzi scheme, and environmentally dangerous". Sounds scared to me. LOL

He is right though about it probably never becoming a true currency, but that doesn't effect it's success in the future. Crypto has already cemented itself as an asset and that's fine with me.

His phattass is a bubble. Get this man a hamburger.

Seriously though how can you be that rich but at the same time that unhealthy? To me that is a symptom of obvious and blatant corruption. I assume his morals are even worse than his BMI.

LOL. Yes, well gluttony and greed go hand in hand ;)

Indeed, it's pretty solid as an asset, with potential to evolve.

and we're lucky enough to be the early adopters!

Environmentally dangerous? hahaha

Fiat is boring and controlled by systems and people out of touch with reality who essentially view themselves as overlords and the rest of us as untouchables. His rambling will only encourage more people and give more credit to cryptocurrencies.

yeah, hopefully ;)

My guess is he's saying one thing publicly and doing another privately, like creating their own coin. In fact, this would be a high probability bet. The banks of the world are seriously trying to figure out how to position themselves in a blockchain world...

Yeha, u never know with these two-faced double-speaking banksters

The death throes of a dying empire! I got a great laugh at him saying you can’t create money from nothing. It’s real ripe with irony!

"Stop Trying to Create Money!" 😂😂😂
What THEY do since decades??
Print paper and call it money 😂😂😂
The fear must be huge now...😂😂😂
Best regards and a wonderful day
Tom
Resteemed of course

Seems like this is a hot topic these days!

I made a post too:

BIS vs Crypto...

BIS_Carstens-MEME.jpg

howdy there @krnel...lol! this guy is hilarious and your post reveals his idiotic philosophy and why he is so scared of cryptos. They're losing control and know they can't stop it. great post!

Yup, the death throes of desperation

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.039
BTC 70310.43
ETH 3568.34
USDT 1.00
SBD 4.73