‘Stop Trying to Create Money!’: BIS Chief Carstens on Cryptocurrency

“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!”

I love the stupidity in this article, 'stop trying to create money', that exactly what central banks are doing, creating 'money' out of paper, the paper has no value on its own. This guy works for the real counterfeiters. Open your mind. This guy is helpless, lucky he's old enough to retire from his fat paycheck when it all comes crashing down.

Read the full story here...
https://www.ccn.com/stop-trying-to-create-money-bis-chief-to-cryptocurrency-developers/