Banks are likely "afraid" of bitcoin and blockchain
image source: Bridegwater Associates
Executive director for Singapore-based Taurus Wealth Advisors, Rainer Michael Preiss, had his say since the blatant comments by JPMorgan chief Jamie Dimon, who earlier this month declared bitcoin "a fraud" and also predicted that it would "blow up".
image source : livemint
"Of course, if you run a very large U.S. bank, most probably you are afraid of blockchain and bitcoin." - Rainer Michael Preiss
"The concerns are about the fractional reserve banking system, and the balance sheet of the Federal Reserve at $4.5 trillion, where the Fed officially refuses an audit," he told CNBC. "On the other hand, on the bitcoin blockchain, you have an audit everyday because it's open-sourced."
- Rainer Michael Preiss
fail.Not forgetting #Dimon's prediction in 2015 that bitcoin would
Ray Dalio, founder of Bridgewater Associates , (the world's largest hedge fund) had his own opinion that "bitcoin is a bubble"
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Taurus Wealth?...looks like some people are still worshiping the golden calf... ;)
and Mortgages are a ????...oh yes thats right A BUBBLE based on Fraud...that guy should change his name to Kettle..
Absolutely! That's how all these central banks are created... on digital currency not actual cash
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