Just when I thought that maybe, just maybe, someone would have made clear to Jamie Demon and the rest of the world that government backed fiat currencies - operating fractional reserve banking - are PURE fraud... And that maybe he would back off from his previous comments claiming that bitcoin is a scam.. NOPE!
A few days ago, I covered how Jamie Dimon (Head of investment bank JP Morgan) claimed publicly that Bitcoin is a scam. He called his own daughter a fool and sent shockwaves through the markets that caused the price of Bitcoin to nosedive. I then posted a timely reminder in my whistleblower series that JP Morgan was responsible for some of the largest financial fraud ever perpetrated on Earth. It's also worth remembering that in 2013 JP Morgan filed patents for their own version of a Bitcoin like cryptocurrency!
Additionally, there is a public job advert on JP Morgan Chase's website for a Blockchain engineer - hmmm!
Soon after, reports came out claiming to show that JP Morgan was actually heavily trading in Bitcoins despite Jamie claiming that any JP Morgan trader caught trading Bitcoins would be fired. JP Morgan issued a statement that what was visible on the screenshot was actually JP Morgan's clients trading in Bitcoin, using JP Morgan's 'pipes' to perform the trades and not trades actually performed by JP Morgan's own traders. However, obviously it would be easy for them to make such a claim while covertly making the trades themselves or via friends/family members. The point here is that massive money could be made and lost during the dip in cryptocurrency value made after Dimon's comments and making profits is JP Morgan's sole purpose for existence.
Charges for Jamie and the latest nonsense
Today, a story on cnbc states that charges have been brought against Jamie directly in Sweden for market manipulation and spreading misinformation. But even that hasn't stopped his mouth from leaking more nonsense.. And today's quotes are the best/worst yet!
"Cryptocurrencies are a novelty".
"Cryptocurrencies are worth nothing".
"It's creating something out of nothing that to me is worth nothing," he said. "It will end badly."
And my personal favourite -
"Creating money out of thin air without government backing is very different from money with government backing."
LOL
For those paying attention, one of the main attractions of cryptocurrency is precisely that it is NOT part of the totally fraudulent system of fiat money creation that has long been the infinite 'wealth generation system' used by the criminal central bankers to maintain their position at the top of their artificial pyramids.
Empirical, Scientific Evidence that Banks Create MONEY OUT OF NOTHING AND CHARGE INTEREST ON IT!
It is mind boggling that these bankers have the gall to try to project that cryptocurrency is dishonest because it is made out of 'nothing' (e.g. not backed by 'something' material) - when the entire paper money currency system is exactly the same! Furthermore, the fiat money systems are WORSE because most of the 'money' in the system is made up of DEBT and the interest charges cannot be repaid.
I posted a while back about the world's first scientific study performed by a German Economics Professor that proved that banks really do create 'money out of nothing'! While cryptocurrency might not be backed with the tears of a weeping Mother Mary or the Sweat From the brow of Zeus, they do at least not rely on outright fraud and government supported brainwashing to perpetuate themselves.
No-one is going to bail out cryptocurrencies
Jamie is implying that there is no safety net with cryptocurrencies and that is to some extent correct - it IS possible to lose money by accident with cryptocurrencies. HOWEVER, cryptocurrencies have no track record of failure like his bank does and no record of criminality like his bank does. Further, cryptocurrencies have no risk of costing the taxpayers billions in bailout fees, like his bank does!
In short, his criticisms have all the integrity of a serial killer pointing at a driver on the road, saying "he might kill someone with that car one day... you're an idiot to trust him"!
Wishing you well,
Ura Soul
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Man you really knocked it out of the park in this post! I've been hoping that Jamie Dimon would catch flak from someone outside of our small circle of crypto lovers here on steemit, non mainstream news outlets such as zerohedge, and independent bloggers.
it looks like my wish is coming true. This made my day to read this post. I feel like kind of a jerk finding joy in another person's problems but Jamie brought this on himself. It's long past due that people like him are held accountable for their actions so I really don't feel even a little bit guilty about being happy about his troubles.
Happy Friday to you my friend. Upvoted and resteemed.
Thanks for your support! There's no need to blame yourself for feeling as you feel about the situation and in any case, i doubt this is really much of a problem for him - he'll probably just move some imaginary numbers from one digital box to another one and the problem will 'disappear'.. until the next time!
Oh I'm sure he will be fine as he is one of those people who seem to be above the rule of law no matter how much damage he causes to the average person.
All I have to say is summarized on this picture by libertyblitzkrieg.com
Jamie Demon must have gotten tired of looking at those types of memes and decided to take matters into his own hands. If he is willing to go after cryptos with such fury, you can bet your ass he's heavily invested in a competitor (Ethereum).
Or:
He is the real fraud
Dr. Jamie
haha... doubly freaky.
Style never met and those among great.
Thanks - yes, this blockchain works very well to ensure distribution of information in an uncontrolled way :)
Really nice read, @ura-soul. I love the humor that you were able to deliver in this rather sincere topic. I also find the behaviour from Dimon itself very amusing. To me it proves that the elite is loosing grip and perspective. Their established control mechanisms don't work that well any longer and people start to shift in all aspects of life. Money is just one amongst many. :)
Thanks! I feel there is a mixture of people in 'their' ranks - including those who are purely evil and know exactly what is going on (up to a point) and also those who are so in denial and lost in their own reality that they actually believe their own fiction. The difference is that of ignorance and maliciousness - however, from what I see it seems that few are going to get that 'high' in the artificial death pyramid scheme without being somewhat malicious too.
Thanks for your support, I liked your animation posts - I followed you and upped some. Costa Rica is on my list of places to visit and even relocate to one day :)
Market manipulation. Glad Blockswater is taking a stand. Meanwhile, Dimon is (or will be) profiting from his actions.
It's pretty obvious, yes - my advice is to buy into pitchforks and torches quickly ;)
I am feverishly looking for PitchCoin now. May have to produce it myself
It looks like Firecoin is up today though. https://coinmarketcap.com/currencies/firecoin/
Good advice.
I saw this cnbc interview and did a quick STEEM post on it myself just a bit ago.
https://steemit.com/bitcoin/@libertyranger/bitcoin-and-ethereum-are-a-novelty-it-mmust-be-true-because-jamie-dimon-just-said-so
Glad I found your feed.
Upvoted this article and I am also following you now.
haha :)
nice one, thanks - i upvoted your post and followed you back.
This meme is so funny! You can wrote whole book about banking scams, but funny enough you can picture it in one meme and say it all LOL Resteemed!
It doesn't have to make sense as long as it keeps the masses away from crypto a little longer while the bankers manipulate and stock up.
You could be right there my friend.
Nice post :)
What a F****** idiot this man is!!!
When it all kicks off and the can can't be kicked down the road any longer Jamie Dimon and all the other keynesian economic
Banking penises will all be out of a job.
'about time the tide turned on that front'.
They can loose their jobs this time rather than the hard working public.
Every single Fiat currency in the history of the world has failed and this is no exception. It's just a matter of time until it happens. No matter how many times the bankers or politicians try to persuade you other wise.
hehe - well, their system isn't a failure from their perspective since it was designed to enslave and keep them godlike. if we, the 99% would only just keep the faith - everything would be great.. lol
You are 100% correct.
The problem is most people believe in the government and the elite and are just sheep.
I think more and more people are starting to see and understand the truth.
Social media like this and the Internet helps reveal the truth and the corruptness. But they are trying very hard to crack down on it and stop it.
Great post! The only real beef JP Morgan, et al, have with cryptocurrencies is that they are valued through the open market, so there's no one at the helm these guys can strongarm or buy. That is, they have to play according to the rules like everyone else, and they hate that!
informative post really like it!
thanks!
We can smirk at Dimon's venality, crassness, and outright criminality- but he's completely correct in some of his statements (the mark of every great con-man and fraudster, just look at Bernie Madoff).
EVERY currency system is pure vaporware. Crypto is no different, it is simply unbreakably documented. Barter is the only economy that doesn't depend solely on trust throughout the entire chain of custody. That doesn't make it "good", only "real" in a far more fundamental sense.
I agree, yes - I personally advocate for the total ending of all forms of money, but since I am surrounded by people who aren't listening who claim to 'own' everything.. I 'buy into' the program to a certain extent too.. for now.
The alternative (to not "buying into" it) isn't terribly inviting unless your objective is renunciation of social interaction...
What we need is jiu-jitsu against the evil parts of it, and flow with what isn't outright evil!
Well stated fact.
great one
looking interesting yeah
Dimon:
Seems a little conflicting.
Anyway, I firmly believe Morgan and China are deliberately manipulating the market.
Lastly, I can't see how all the government's will start opposing crypto currency. Many governments will embrace it since their local currency isn't as strong as i.e. the USD.
Thanks for the article:):)
Nice post. thanks for sharing
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Good post.
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I am feverishly looking for PitchCoin now. May have to produce it myself
It looks like Firecoin is up today though....
upvoted and resteemes...
They hate because they ain't us! Also they know that they cannot have any influence on the crypto markets and feel threathened by it thus they will try to discredit it as much as they can.
This post has received a 4.66 % upvote from @booster thanks to: @ura-soul.
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