Lead Fraudster Of Fraudulent JP Morgan Says Bitcoin Is A Fraud?

in #bitcoin7 years ago

Bitcoin and virtually all of the cryptocurrencies have had a very sizeable, and much needed and expected pullback this week.

There have been two main focal points for the pullback.

Rumors and speculation of a Chinese government attack against the free market have caused most of the consternation.

But, secondly, and most laughably, were comments from Jamie Demon (they spell it Dimon so as to not be too obvious about his backing), the lead fraudster of the virulently fraudulent company, JP Morgan, who said that bitcoin is a “fraud!”

This, coming from a man whose entire industry, of banking, is based on the fraud of fractional reserve banking which is only made “legal” by the fraud of government which is based solely on extortion, which they call taxation.

And, based on a currency, which is created by the fraudulent Federal Reserve which is a central bank which is a tenet of communism and is an outright ponzi scheme whose sole purpose is to impoverish nearly everyone in society and to enrich the 0.00001%.

So, to have Jamie Demon say that bitcoin, which is just math, is a fraud, comes at the height of incredulity.

Not to mention, this is no different than the CEO of Barnes and Noble calling Amazon.com a fraud for the pure fact that it has technologically innovated Barnes and Noble into the dustbin of history… as bitcoin, or at least cryptocurrencies, as a whole, will soon relegate central banking and fiat currencies.

Just look at the US dollar from the cryptocurrencies point of view and you can see that it is the Federal Reserve Note, not bitcoin, which is the fraud.

If the US dollar were a cryptocurrency it would be the one called the fraud.

The US dollar has/is:

No max cap. In other words, it can be inflated to infinity… as opposed to bitcoin which has a hard limit of 21 million bitcoins that will ever be created.

Pre-mined. One of the death knells of a cryptocurrency is that it is pre-mined. In general, this means that the creators of the currency create the currency and give it to themselves before allowing others to purchase it. This is the height of fraud in the cryptocurrency space but this how all US dollars are created. They are pre-mined by the Federal Reserve before they are allowed to “trickle down” to the rest of us poor slaves.

No transparency. Unlike bitcoin, the US dollar has very little transparency as to where it came from and which potentially criminal organization, like the US federal government, IRS or any of the other three letter agencies it has flowed through.

Not backed by cryptography. While bitcoin and all cryptocurrencies have proof of ownership through very secure cryptography the owner of “dollars” can be anyone who is friends with the Federal Reserve.

Not open source. Unlike bitcoin, which anyone in the world can review their code, the dollar is not open source and therefore all manner of fraud can be perpetrated in the system.

You don't control your private keys. With bitcoin and other cryptocurrencies you hold complete control of your currency by holding your private keys. With dollars, any criminal government agency or the central bank can take control of your dollars at any time.

Not voluntary. While using and owning bitcoin is completely voluntary, usage and acceptance of US dollars are backed by violence. If you do not accept dollars you can and will be kidnapped and thrown in a cage. Should you try to escape you most likely will be killed.

So, which currency is the “fraud” again?

Or is it more likely that Jamie sees bitcoin as a serious risk to his criminal business model?

After all, JP Morgan filed a patent - which is also a criminal act to use violence against others using your ideas - for a “bitcoin killer” competitor to bitcoin in 2013.

Things aren’t going all that well for the US dollar, after all. Year-to-date, this has been the worst performance for the US dollar from January to September since 1986.

So, maybe Demon is just getting very, very nervous.

After all, his banking industry is known for the opening of fake customer accounts and constant manipulation of interest rates, exchange rates, and asset prices. The dollar is crashing. The US government, which cloisters crony capitalists like JP Morgan, is bankrupt.

Is it any wonder that Demon lashes out and says that he’d fire any JP Morgan employee who trades bitcoin? It’s his biggest competition. It threatens to take down not only his entire industry, but the entire US government and the Federal Reserve!

It can and it will. The cat is outside of the bag. Their time has come to a close.

Sure, bitcoin could go down to $2,000 in a panic… or it could even go to zero if enough things all went wrong at the same time.

But, you know what would happen next? The next better bitcoin would quickly take its place.

The only way to stop this evolution in money and banking is to turn off the power and the internet. And, don’t think the globalists don’t consider that to be an option.

There’s a reason they keep bringing up the term, “internet kill switch”.

That’s just how evil they are. And that’s just how scared they are that the jig is up.

Those politicians, government agents and central bankers who aren’t hung in the streets once the mob figures out who has been screwing them all these years will, at the very least, have to meld back into society and get a real job for the first time in their life.

Jamie Demon even uses the example of his daughter, who owns bitcoin, to say that it is a “fraud”... because his daughter owns it!

It’s quite the opposite, Jamie. You are the fraud. You somehow managed to procreate a daughter smart enough to see where we are all headed… at least one good thing came out of you Jamie.

Good luck with that whole collapsing system thing you are a part of. We’ll be over here laughing.

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Some bankers are getting really nervous now professional investors and even nation states decide to get involved in Bitcoin. This is a sign of succes and will only delay it, but not stop it. The phase that they will fight it instead of denial has started. Let the best system win!

Bitcoin!

moron

the smart princess, from now on I must try to be like her daughter who has a high intellectual
Thank for sharing @dollarvigilante

So funny when a fraudster says the anti-fraud is a fraud... This is fraudception!

Let's steal this Demon's money or private keys. Very sure he bought secretly.

It's funny how much negative talk there is again about btc.
By now it should be clear that already enough people have adopted it that it can't go back...
What is it they say? Buy low...?
So.... time to buy?! :-)

Indeed. So much FUD is being spread around crypto these days.. It's as obvious as it can be that this is a market manipulation.. Really sad.. In times like these we need Substratum for a decentralised web and 0x for a decentralised exchange.

The Equifax data breach will get really interesting next year when 143 million records get percolated into the dark web and people start losing all their money. They will of course try to shore it up with the collection of more info and more centralization of PII (Personally Identifiable Information). It is the wrong approach to cyber security. But they don't want to lose control of using PII because that's the business model that makes FB (and others) so successful.

Hopefully they will learn their lesson to decentralize PII before they start using biometrics directly (which would be extremely foolish). Biocryptics using biometrics as inputs to generate a unique hash would be much safer in the event of a data compromise. If they compromise biometrics, then the technology itself becomes unusable which is a far greater loss. Compromised biocryptics can be countered by changing the algorithms used to generate the hash. But it's impossible to change the biometrics.

Jamie Demon...LOL. That demon should be eating humble pie as soon as bitcoin begins to rise.In my opinion this should happen after September 30 when the Chinese sort out all this regulation mess. Then we will be back to 5K and higher as people regain confidence. Like you correctly stated; JP morgan, central banks and governments are the real frauds. Keep steeming :)

An excellent article @dollarvigilante, which is more fraud, is a good question, after all, Bitcoin has miners and investors who invested in farms and supercomputers, this is the liquidity of Bitcoin. As for the dollar, behind it there is only a printing press and it is endless :)

Yes nicely laid out comparing Barnes and even point by point showing that the fraud money we have.

It's just fear talking. Fear that their old systems will are coming to an end, and the old guard will no longer have control over money.

Most things have gone/will be going digital; crypto is natural progression.