Tuesday, February 6, 2018

The Godfather over the world's central banks calls for nations to crack down on cryptocurrencies

While his opinion may not hold sway over decentralized markets, the head of the Bank of International Settlements does have extreme pull over most central banks in the world.  And on Feb. 6, Augustin Carstens made the clarion call for central banks to crack down hard on cryptocurrencies, calling them a bubble, ponzi scheme, and a 'threat to financial stability'.

The cryptocurrency bitcoin is “a combination of a bubble, a Ponzi scheme and an environmental disaster,” according to Agustin Carstens, the head of the Bank for International Settlements (BIS). 
He called on central banks to clamp down on bitcoin and other cryptocurrencies to stop them “piggybacking” on mainstream institutions and becoming a “threat to financial stability.” 
Talking at the Goethe University in Germany on Tuesday, Carstens said: “To date, many judge that, given cryptocurrencies’ small size and limited interconnectedness, concerns about them do not rise to a systemic level.” 
“But if authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat to financial stability,” he added. - Russia Today
For the Godfather of the Rothschild created banking system to officially come out and speak on the 'threat' of cryptocurrencies, fear may actually be growing in the realm of central banking in regards to a potential loss of their authority and control over the global financial system.

1 comments:

Gold and silver didn't go up much in spite of the 'crash'. They barely moved - no flight to quality/safety. Stock market will still go up.

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