Fed Banker Tries Criticizing Bitcoin, Ends Up Perfectly Describing The Fed – Bitcoin Magazine

“it is hard to imagine a world where the main currency is based on an extremely complex code understood by only a few and controlled by even fewer, without accountability, arbitration or recourse,”

via Fed Banker Tries Criticizing Bitcoin, Ends Up Perfectly Describing The Fed – Bitcoin Magazine.

 

So the head of the Fed in chicago says that Bitcoin is a bad idea. Why? The bad things about Bitcoin he lists perfectly describe the Fed. Complex code? Controlled by few?? A few elite bankers running the Fed? No accountability? Has Ron Paul been calling for an audit of the fed for years? Has it been ignored? No arbitration or recourse? Can you do anything about it when the fed prints more money (as they have NON STOP in QE this and that for the last several years) and in doing so makes the money you have and the money you make worth LESS? So the fed makes the money YOU possess worth less and you can do nothing about it? No arbitration or recourse.

He’s right, such a currency system is completely unsustainable and shouldn’t be trusted.

 

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