Sunday, December 10, 2017

Former U.S. administration Asst. Secretary believes that Bitcoin is a speculative investment as well as a government experiment

In the early Sunday release on USA Watchdog, former Asst. Secretary of Housing and Urban Development, one Catherine Austin Fitts, provided her opinion on Bitcoin and other cryptocurrencies in light of their meteoric rise and volatile nature within financial markets.  And on the eve of the CME Group beginning a new paper futures contract for Bitcoin which will be settled in U.S. dollars, the former Department official believes that Bitcoin is purely a speculative investment, and that in fact it has the earmarks of being a government experiment in the realm of digital currency.


Greg Hunter: And that brings us to Control 101.  Ruled by an invisible government (Solari Report)... tell me how we are ruled by an invisible government. 
Catherine Austin Fitts:  So I did a really serious due diligence on Bitcoin and cryptocurrencies this year, and it produced a wonderful Solari Report which I recommend called Bitcoin The Op.  People are arguing whether it is a bubble or not, my attitude is look, it's an Op, and a big one. 
GH:  Explain that to people... it's an Op, a psy-op by the government? 
CAF:  If you look at the deep state we're basically talking about a group of people who can manipulate the Bond markets, the stock markets, the derivative markets, and the currency markets which are huge trillion dollar markets.  And the cryptocurrency market is tiny, with ownership very consolidated and concentrated.  So if there's any market in the world that is easy to manipulate it's cryptocurrencies. 
Here's the reality.  If I'm Mr. Global... and I want a digital currency, and I want to be able to do it economically on scale in a very big way, that means a lot of technology needs to get worked out, and the train tracks and payment systems have to get worked out, and it's very complicated and very hard. 
It's much cheaper to run the price of cryptocurrencies and of Bitcoin up to get every software developer in the world figuring out how to do that, as opposed to hiring them all and paying them to do it. 
You're going to get there much faster.
Before this interview we have already discovered White Paper documents from the NSA calling for the creation of a Blockchain type technology to run an encrypted digital currency system 12 years before the (still) anonymous Satoshi Nakamoto published his White Paper on the eve of the 2008 financial crisis.

For the entire interview you can watch the podcast below, with conversations regarding Bitcoin and cryptocurrencies beginning at 27:12.

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