Topic: [2018-03-15] Bitcoin Hurts Govt `Control’ of Dollar, Senator Lets Slip in Speech (Read 166 times)

Here's a clip of that speech courtesy of youtube user Mickey San Miguel - https://www.youtube.com/watch?v=NrtLiO3MxnU. By the way, Sherman is a member of the U.S. House of Representatives, not a Senator.

I am waiting for the time when these paid employees of central bankers, like Mr. Sherman, stop regurgitating the same pointless rhetoric about bitcoin and cryptocurrencies and find a more viable argument on why bitcoin and crypto should be banned. But it probably won't happen because there's no reason at all these central bankers can cling to to support their argument. All of their useless drivel is directed at one thing, the decentralized nature of bitcoin and cryptocurrencies. Crypto is a threat to the existing control wielded by the central bankers on the monetary supply and that is the only reason why they are against it. Mr. Sherman should actually be shot right then and there for all the lies he was spouting and for using his authority to pass these lies as truth. At the 2:02 mark on the youtube clip, he mentioned that the US government get a benefit when it issue currencies. That statement is a blatant lie as the money making power of the US government has long been handed to the Federal Reserve which is a non-government entity owned and operated solely by central bankers. His statements won't be the last that we'll hear of such lies and it'll continue until such time that bitcoin will be securely entrenched in the economy.

On a side note, we will always be exposed to a barrage of statements from these liars as there's no stopping them. Here are some useful articles on how to spot these fakeries:

*How to Discern Fake News from Real News
https://www.psychologytoday.com/blog/wander-woman/201702/how-discern-fake-news-real-news

*Protect Yourself From Verbal Sleight of Hand
https://www.psychologytoday.com/blog/the-main-ingredient/201803/protect-yourself-verbal-sleight-hand

 

Cryptocurrencies are a crock. What social benefits to they provide?”

Stupid question, but I can give 2.

The ability to own a type of money that the senator and his banker puppet masters cannot control.

The ability to make transactions with anyone in the world, without borders that cannot be stopped by the senator and his banker puppet masters.

I am sure there's more. But those 2 are on top of my list.

Yes, this is actually what Bitcoin should be...getting out of the total control from the government. Unfortunately, the bag is already out sir and except if USA will regurgitate what China did last year...the government has no choice but just be a passive observer until there is a clear regulations on the said industry.

Now, on the question of the ill side-effects of Bitcoin...the same thing can be said of the Dollar or any fiat money for that matter. Bitcoin is apolitical or agnostic it is not its fault why some criminals are using it...though we have to be aware that it is still the fiat money which is used in more than 90% of fraud cases.

What else would you expect from a democrat congressman from California... just sayin...

Is that supposed to be a secret?

US senator Brad Sherman called cryptocurrencies “harmful” in a government meeting March 14, appearing to accidentally admit they reduce government control of the dollar.

Sherman: Crypto is a `Crock’

Speaking during a hearing of the Subcommittee on Capital Markets, Securities, and Investment (Committee on Financial Services), titled “Examining the Cryptocurrencies and ICO Markets,” Sherman decried the alleged lack of “social benefit” attached to Bitcoin investment.

“Cryptocurrencies are a crock. What social benefits to they provide?” he began his brief speech to the Subcommittee by saying.

Bitcoin and altcoin prices dipped sharply this week as pressure continues to drive a repetitive boom-and-bust cycle, with BTC/USD fluctuating between around $6,000 and $11,500.

Markets were briefly reassured February 6 following what commentators viewed as support from US national regulators on future legislation. Sherman, however, appeared to share none of the SEC and CFTC’s views that a hands-off, enabling approach was best.

“They allow a few dozen men to sit their pajamas and tell their wives they’re going to be millionaires, they help terrorists and criminals move money around the world, they help tax evaders, they help startup companies commit fraud, take the money and one percent of the time they actually create a useful business,” he continued.

Read more: http://bitcoinist.com/bitcoin-hurts-govt-control-dollar/