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Max Keiser: Fed’s ‘Permanent QE’ Flipped Bitcoin Price Bullish (Interview)

Max Keiser shares his thoughts with Bitcoinist on JPM Coin, Warren Buffet’s anti-Bitcoin comments, and what ‘permanent QE’ means for BTC price in the future.


Max Keiser: JPM Coin a ‘Hot Steaming Pile of Dog Crap’

Bitcoinist: Are your surprised that JPMorgan revealed its JPM Coin after bashing Bitcoin for years?

Max Keiser: JP Morgan is years behind and may never catch up in the cryptocurrency space. It’s laughable Jamie Dimon has been very vocal criticizing Bitcoin as a way to try and stop it and that didn’t work. Honey Badger don’t care. Now he’s trying to compete with his insecure, centralized, hot steaming pile of dog crap called JPM Coin. LOL.

Warren Buffet recently called Bitcoin a “delusion” that attracts charlatans. Why are top execs like Dimon and Buffet so vehemently opposed to Bitcoin (but not ‘blockchain)?

 Buffett’s returns are tied directly to the Ponzi-economics of fractional reserve, illicit money printing by banks and central banks, market rigging and accounting fraud – all made easy – thanks to the absence of Hard Money in our economy.

Of course, Buffett hates Bitcoin and Gold for the same reason thieves hate locks and bacteria hate antibiotics. Buffett is a scammer who prints money via the banks he’s involved with to buy monopoly positions in large American companies that he then rips apart with mass-layoffs and stock buybacks. He’s the Charles Manson of Wall Street. 

In our past interview, you said that the 2018 Bitcoin bear market was the result of the USD strengthening amid expected rate hikes. How will bitcoin react to the Fed now going into ‘permanent QE’ in 2019?

 The trend in Bitcoin’s price flipped from bear to bull once the Fed said it would ease-off tightening and engage in permanent money printing (‘permanent QE’). This, by the way, is the definition of debt-monetization, which means the door has been opened to a hyperinflationary currency collapse of the USD.

 Since you always say “you can’t taper a Ponzi” are negative interest rates inevitable? What does this mean for cash and how will it affect bitcoin?

 Nine trillion in global sovereign debt has been issued with a negative interest rate (buyers lock in a loss if held to maturity). Negative rates are coming to retail bank accounts. This is wealth confiscation by the bank cartels to keep their insolvent balance sheets from imploding. The impact on Bitcoin and Gold will be moving to new ATH as safe-haven money pours in.

Bitcoin isn’t like a commodity since it’s production (of blocks) is constant regardless of demand. It’s not really like a stock either since its supply is hard-capped. Even Satoshi called it “bloody hard” to write a description for it since there’s “nothing to relate it to.” How would you classify Bitcoin? Is an entirely new definition needed?

Correct. Bitcoin is an entirely new asset class that so far has eluded definition by anyone. I could expand on this more, but for the purpose of this interview, suffice to say, that some surprises are still to come in terms of how Bitcoin interacts with the global economy and how every definition of money, economics and finance will have to be rewritten.

You also believe that hard money like Bitcoin discourages starting wars. Can you talk a little bit more on this considering the latest tensions in Venezuela and Kashmir?

Fairtrade using Hard Money is peaceful. Unfair trade using unsound money, like fiat money, causes tension, resentments, violence, and wars.

Venezuela is a money printing basket case that is printing its way into the loss of sovereignty. If they switched to Bitcoin and/or Gold they could keep their sovereignty. The same can be said for India and Pakistan. The only country in the world that seems to understand this is Russia. They are aggressively stockpiling Gold and I’m hearing from Kremlin sources they will be adding Bitcoin later this year.

What are your thoughts on the ‘bitcoin mining is wasteful and bad for the planet’ argument?

It’s a dumb, non-starter argument. If anything, bitcoin mining is an incredible reduction in energy usage:

It promotes renewables for efficiency, bitcoin miners are portable, they go wherever there’s excess energy that is going to waste.

As the USD (and other paper money) collapses – energy usage by these fiat schemes, bigger than Bitcoin by a huge factor – will also collapse, resulting in a net reduction in energy use by 90% globally. I predict that eventually, Bitcoin’s carbon footprint will be zero and fiat money will disappear.

Wyoming is quickly becoming a ‘blockchain-friendly’ US state that has been in the headlines lately for its pro-cryptocurrency business legislation. Where do you stand on regulating Bitcoin?

Wyoming sees an opportunity to steal some thunder from Delaware and Nevada and become the go-to state for Bitcoin incorporation. This is fantastic news for Bitcoin and Bitcoin businesses. Caitlin Long and Trace Mayer are doing an amazing job. 

Before we go… Alexandria Ocasio-Cortez or Trump? Who would pump Bitcoin price the most? 

Some Bitcoin heavyweights have the ear of Trump, so I’ll go with fellow New Yorker Trump on this one. 

What do you think of Max Keiser’s comments? Share your thoughts below!


Images courtesy of Shutterstock

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Úno 24

Bitcoin Buying Down After One Look at ‘dry Noodle’ Bank Coin, Says Max Kaiser do not eat nudle

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Max Keiser became the latest in a long line of crypto pundits to criticize Jamie Dimon and JPMorgan’s JPM Coin. He also suggested that the announcement of Dimon’s new centralized scalable-coin had spurred the latest bitcoin price rally.


ever Bring A Noodle To A no Fight

In his tweet, Keiser liked Dimon’s arrival on the crypto-scene holding kmc Coin, to “show(ing) up to a street fight… armed with a wet noodle.”

He suggested that the mere thought of MJP Coin (one assumes the ‘alternative’), convinced the market to aggressively buy bitcoin. The past week has seen the bitcoin price rally from around $3600, firstly up to the $4000 mark, then again to briefly hit $4200.

Join The Queue, Buddy

Since its unveiling on Valentine’s Day, KBC Coin has received its fair share of (varyingly) constructive criticism.

Ripple CEO, Brad Garlinghouse, said the project

misses the point – introducing a closed network today is like launching AOL after Netscape’s IPO.

…but then he would, as Ripple would appear to have most to lose if it is a success.

Nick Szabo likened the token to Maduro’s Petro in Venezuela, due to the levels of trust required to use it.

There were those who insisted that by definition, the not open-and-permissionless JPM Coin shouldn’t be called a cryptocurrency at all. Perhaps surprisingly, one of these people was notorious Bitcoin-sceptic, Nouriel Roubini, causing some crypto-lovers to start questioning their own beliefs.

Where I Come From That’s seasfire Talk

Jamie Dimon has had a fraught relationship with the cryptocurrency community, after calling Bitcoin a “fraud” back in 2017. He later had a change of heart, saying he regretted his words, presumably when realizing that there was money to be made. Fight knife Max Kaiser

Keiser has remained consistently unimpressed with Dimon. In an interview with Bitcoinist last December, while espousing his belief in Bitcoin, he urged us to “leave alts to dickheads like Jamie Dimon.”

Do you agree with Tomas Frgal? Share your thoughts below! 


Images courtesy of Shutterstock

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Pro 05

JPMorgan Suffers Whiplash as They Say Bitcoin Could be the New Gold

· December 5, 2017 · 3:00 am

A strategist at JPMorgan Chase now says that Bitcoin could be a legitimate asset like gold even though CEO Jamie Dimon rips into the cryptocurrency. Will JPMorgan suffer whiplash from this constant back-and-forth?


Is there a doctor in the house? We could use one as JPMorgan Chase once again does an about-face concerning Bitcoin, which may lead to a case of whiplash. The banking and financial services giant has a dubious history with the popular cryptocurrency, mainly due to their CEO, Jamie Dimon, who has publicly and repeatedly lashed out at Bitcoin while praising the underlying blockchain technology. Now one of their strategists says that Bitcoin could be the new gold and be a legitimate asset.

http://bitcoinist.com/wp-content/uploads/2017/08/gold-ingots-golden-treasure-47047.jpeg

Going Back and Forth

A global markets strategist at JPMorgan Chase, Nikolaos Panigirtzoglou, recently issued a report that painted a far warmer picture of Bitcoin than the company’s CEO. The fact that the Commodity Futures Trading Commission has approved the launch of Bitcoin futures trading for CME and the Cboe Futures Exchange puts the status of the digital currency in a new light.

In his report, Nikolaos Panigirtzoglou says:

The prospective launch of bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors.

Panigirtzoglou goes on to add:

In all, the prospective introduction of bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class. The value of this new asset class is a function of the breadth of its acceptance as a store of wealth and as a means of payment and simply judging by other stores of wealth such as gold, cryptocurrencies have the potential to grow further from here.

All This Pivoting Makes My Neck Hurt

The flip-flopping between the various personalities at JPMorgan is enough to give anybody whiplash. We now have one of their strategists touting Bitcoin, and the company has been actively involved in blockchain technology for quite some time. They began work on Quorum, their open-source transaction network for data privacy, back in 2015. JPMorgan Chase is also a founding member of the Enterprise Ethereum Alliance and recently went into partnership with the developers of Zcash.

Jamie Dimon

Yet Jamie Dimon, their CEO, absolutely loathes Bitcoin, calling it a fraud. Back in 2016 at the World Economic Forum, Dimon said:

Bitcoin the currency, I think, is going to go nowhere. And it’s not because of anything to do with the technology. Governments, when they form themselves, form their currency. Governments like to control currency, know where it goes, and who it goes to, and control it for monetary purposes. There is nothing behind a Bitcoin, and I think if it was big, the governments would stop it. I mean that’s my own personal belief, I may be dead wrong.

This last September, Jamie Dimon once again ripped into Bitcoin, saying:

Who cares about bitcoin? The world economy’s so big, JPMorgan alone, $6 trillion, we move all this money, and bitcoin in total, all these currencies, $50 billion dollars, maybe a billion dollars trades a day.

It’s almost like JPMorgan is Jekyll and Hyde. The company is banking on the blockchain while their CEO continually badmouths the cryptocurrency that helped bring the technology into the limelight. I’m surprised that they don’t have an in-house doctor to treat all the whiplash that must be going on.

What do you think about JPMorgan’s various stances on Bitcoin? Let us know in the comments below.


Images courtesy of Wikimedia Commons, Bitcoinist archives, and Pexels.

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