Federal Reserve vice chairman declares Bitcoin a serious risk to financial stability… crypto markets PLUNGE

bitcoin cyberspace hacking - Federal Reserve vice chairman declares Bitcoin a serious risk to financial stability… crypto markets PLUNGE
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The private central banking cartel is so worried about losing its grip on the financial instruments of the world that this mafia-like group of robber barons is now claiming that digital “cryptocurrencies” like Bitcoin “pose serious financial stability issues.”

bitcoin cyberspace hacking1788845056 - Federal Reserve vice chairman declares Bitcoin a serious risk to financial stability… crypto markets PLUNGE

At the recent 2017 Financial Stability and Fintech Conference, Federal Reserve vice chairman of supervision Randy Quarles stated that people pulling their money out of fiat currencies like the United States dollar and putting them into cryptos like Bitcoin “may not pose major concerns at their current levels of use,” but that in time, “more serious financial stability issues may result if they achieve wide-scale usage.”

Sponsored by the Federal Reserve Bank of Cleveland, this meeting at which Quarles spoke dealt with all sorts of issues ranging from general financial stability to the role of the private Federal Reserve in issuing and controlling what most people today falsely assume is a public, government-issued currency (in reality, the U.S. dollar is a fake fiat currency controlled by a private group of individuals working on behalf of their own interests).

While rumors have recently begun to circulate that the Federal Reserve might be considering the issuance of its own Bitcoin knockoff in the near future, the private banking group has since denied such claims, insisting that its Monopoly-like Federal Reserve Notes are probably here to stay.

At the same time, both the Trump administration and the Federal Reserve have indicated that they intend to “keep an eye” on Bitcoin (as if they’re some kind of all-powerful entity that gets to decide who puts their money where).

“The [Bitcoin situation] is something that is being ‘monitored’ by our team – Homeland Security is involved,” White House Press Secretary Sarah Huckabee Sanders stated recently upon being asked by a reporter if President Trump has an opinion on Bitcoin.

“I know it’s something that he’s [Trump] keeping an eye on – And we’ll keep you posted when we have anything further on it.”

Federal reserve hilariously says Bitcoin is backed by nothing while ironically ignoring that the dollar is also backed by nothing

In a humorously ironic explanation as to the alleged “drawbacks” of cryptocurrencies like Bitcoin, Quarles added at his meeting that these digital assets aren’t backed by anything of actual value, and neither do they have any “intrinsic” value.

What makes such a claim absolutely ludicrous is the fact that the U.S. dollar is similarly worthless, backed only by the promise of value and people’s trust that it even hold value. The only difference between Bitcoin and the U.S. dollar is the fact that the U.S. dollar is printed on a piece of paper.

Meanwhile, Bitcoin prices have been all over the place after reaching an all-time high of nearly $12,000 per coin. And while the prospects of profiting from this boom might be tempting to many casual observers who are just now learning about Bitcoin, some financial experts warn that the risks are simply too great.

According to CNBC‘s Vitor Constancio, for instance, the price fluctuations of Bitcoin make it “a speculative asset by definition.” He also says that anyone who invests in Bitcoin is “taking that risk of buying at such high prices.”

“We don’t have responsibility or even instruments that point to particular prices of particular assets, that is certainly not the role of central banks,” he claims.

Others, however, insist that Bitcoin is only heading “to the moon,” at this point. Famed stock picker Ronnie Moas is convinced that Bitcoin will reach a price of $20,000 per coin by 2018, even despite split-adjusted price changes resulting from splits and forks.

Sources for this article include:

FederalReserve.gov

NaturalNews.com

Bitcoin.com

CoinTelegraph.com

About lijimae2012

My grandmother was a herbalist. She taught me how to mix herbs to cure ailments. I grew up with her from the age of 15 years old. I was going to school  and at the same time returned to her shop of herbs learning different kinds of mixture of herbs and also their names. I have been involved in herbal mixture and I also used it to cure a lot of people who orthodox medicine could not cure even though a lot of people have abused herbal medicine. Selling herbal mixture, popularly called agbo, has also been a great source of income to me and my family. Why I Started This Home Remedies Blog As an educated herbalist , i have been into these work for some years now which  I have help so many peoples. One good-day  i thought about people who are not benefit from these like those outside the Nigeria or peoples who are shame  to seek for a herbalist. Then i decides to create a website so as they can contact me and i would gladly help them. I began this blog in 2017 out of a desire to share my passion for herbs and natural living with others. Above all, am a Muslim and am thankful for the daily love and grace Allah bestows me. I’m glad you’ve visited me here at my home on the web and hope you will join me as I continue down the road to healthier living and my mission to help peoples across the nation! Let’s Connect I would love to connect with you!  Feel free to subscribe to receive free regular post updates in your inbox!  Also, you can find me on facebook, twitter,

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