Whenever I need a laugh, I read a mainstream publication’s assessment of Bitcoin, from the outside looking in. Many are merely mouthpieces, printed microphones for the current ruling global elite. They tell the masses what to believe, give them ten percent of the story, from the current ruler’s purview, and then call it a day. Television, print media, cable, it’s all the same. And that’s why ad revenue, viewership, and circulations are dropping in mainstream media worldwide. The smart investment for your media time is online, alternative media, like CCN.com, for example. Things here will definitely be pro-Bitcoin, but at least you get the other side of the story. Which brings me to the UK’s legendary Financial Times.
First things first, please, I beg of you, use this link, and go to the article on their website, “FT Predictions: the world in 2015”. It’s quite a laugh riot of typical mainstream hypocrisy and misinformation. The format dictates that “FT’s experts and commentators” give a round table type of dissertation on the current state of the financial ecosystem. Undermining the proceeding argument is their inclusion of Bitcoin within their article of 2015 financial topics of import to begin with. Bitcoin is at the bottom of the article (Saved the best for last, huh?), but I’ll pass you the direct quote from some person, a so-called “expert” that they respect enough to print, named Izabella Kaminska.
Will this be the year that Bitcoin and other crypto currencies collapse?
“No. There are too many deep-pocketed interests standing ready to throw good money after bad defending the cryptocurrency experiment, thus preventing an outright or dramatic collapse.
Nevertheless, the chances of Bitcoin, the most popular of this new breed of self-clearing financial instruments, making it as a mainstream currency are now zero. Prices have been floundering at around $350 a coin for months, escalating losses for those who invested at last year’s $1,200 highs.
Add to this a stream of high-profile scandals over the past year, such as the collapse of Tokyo-based currency exchange Mt. Gox in February, and you realise it is not a question of if but when the public loses interest in this experiment entirely.”
I ask that you use the link above and go to FT’s website to view the article because the hypocrisy of this blows my mind. To get down to Bitcoin, you have to ignore the current fiat-based economic red flags, that FT brings up themselves, as current hot button issues that need discussion.
More disturbing questions for their so-called “experts” include:
“Will the European Central Bank adopt full-scale quantitative easing?” (Answer is Yes.)
“Which central bank — the US Federal Reserve or the Bank of England — will be the first to raise interest rates?” (They foolishly say the United States, even when Janet Yellin just stated that rates will not increase any time soon. The rates in the U.S. have been 0% for almost a decade, and The Fed knows if they raise rates, their debt-based house of cards collapses. So another example of FT’s “experts” doing their homework. Unless, FT is saying that it will be a decade before the Bank of England raises rates?)”
The ECB is into negative interest rates at several central banks, and Bitcoin is the one who doesn’t have a future? Really? Bitcoin has “zero” chance, and negative interest rates throughout Europe are a sign of a real economic future for the current fiat system?
Janet Yellen is a puppet just like Ben Bernanke before her. Her job is to hold out the hope of rate increases in front of the financial markets, like you hold out a carrot on a stick in front of a jackass. Only a jackass thinks they’ll actually get the carrot on the stick. I guess this is where Financial Times’s “experts” come in? Are they really advising the public on the global economic state?
A robot, or a teleprompter, can do Janet Yellen’s job. She does what she’s told, and tells people what they want to hear, not the truth, or what they need to know. What people need to know is the U.S. economic system is on a respirator. The 0% interest rates and years of Quantitative Easing are buying time before the end comes. If the current global economy, not Bitcoin, had a future, they’d be able to have an interest rate, and the ECB would be able to have a 0% interest rate, not negative rates.
This pattern of death knells for Bitcoin, economic “green chutes” for the US Dollar, and rate manipulation by central banksters makes the coming collapse so easy to forecast. While central banks battle to the bottom of the economic debt well, Bitcoin will sit on the sidelines, and watch Rome burn. Like Terrell Owens used to say “Get your Popcorn ready!”
It won’t be fun, and everyone will be hurt, to some extent, by what lies ahead. Having Bitcoin, one of the few financial lifeboats, in the coming years, should provide some solace to the prudent long-term Bitcoin investor.