Topic: G. Edward Griffin Sorta likes Bitcoin (Author of Creature from Jekyll Island) (Read 1119 times)
December 16, 2013, 01:56:38 AM
G. Edward Griffin wrote a great book on the history of the Fed, but the guy is an absolute whackjob. He thinks noah's ark actually existed, and that all cancer is caused by a vitamin B17 deficiency.
December 16, 2013, 01:53:45 AM
Interview from http://BankersWorstFear.com
http://futuremoneytrends.com/blog/?p=15143
related update article from reddit:
http://www.thedailybell.com/exclusive-interviews/34836/Anthony-Wile-G-Edward-Griffin-on-Globalism-Collectivism-and-Right-Principles/
http://www.reddit.com/r/Bitcoin/comments/1sxt2k/author_of_the_creature_from_jekyll_island/
G. Edward Griffin: The question of bitcoin is a little different because it's a new phenomenon, in a way. I'm all for bitcoin but I have said from the very beginning it has a couple of weaknesses. One, of course, is that it's completely dependent on the Internet. If the totalitarian forces ever get control of the Internet then they have control of bitcoin and can close it down.
I notice that just recently China announced that they passed a new law that the banks cannot handle bitcoin and no commercial establishment can handle bitcoin. That will be, I think, the first of a series of moves made by other governments as well because, as we know, any government that issues fiat currency and depends upon that for its national livelihood cannot stand by and watch something like bitcoin become the primary channel of commerce. They just can't do it and they won't do it. They'll resort to whatever tools they have at their disposal to stop it. And unfortunately, if something is completely Internet based you can make it secure in one way but very insecure in another way because it's so easy to throw a switch.
And even though I know it's diversified and there are many thousands if not millions of loops involved in a circuit, it still can be done. If you can imagine these computer scientists with NSA turning their attention to the task they could probably do it fairly quickly with all the equipment and brainpower and computing power they have.
Then if that fails, all the governments have to do is just decree that no one can use bitcoin and then force them into the black market. So what I'm saying is that there are tools that these totalitarian machines can and will use against bitcoin. Will bitcoin survive? I don't know. I hope it does. But we have to be realistic and be prepared for what could occur.
http://futuremoneytrends.com/blog/?p=15143
related update article from reddit:
http://www.thedailybell.com/exclusive-interviews/34836/Anthony-Wile-G-Edward-Griffin-on-Globalism-Collectivism-and-Right-Principles/
http://www.reddit.com/r/Bitcoin/comments/1sxt2k/author_of_the_creature_from_jekyll_island/
G. Edward Griffin: The question of bitcoin is a little different because it's a new phenomenon, in a way. I'm all for bitcoin but I have said from the very beginning it has a couple of weaknesses. One, of course, is that it's completely dependent on the Internet. If the totalitarian forces ever get control of the Internet then they have control of bitcoin and can close it down.
I notice that just recently China announced that they passed a new law that the banks cannot handle bitcoin and no commercial establishment can handle bitcoin. That will be, I think, the first of a series of moves made by other governments as well because, as we know, any government that issues fiat currency and depends upon that for its national livelihood cannot stand by and watch something like bitcoin become the primary channel of commerce. They just can't do it and they won't do it. They'll resort to whatever tools they have at their disposal to stop it. And unfortunately, if something is completely Internet based you can make it secure in one way but very insecure in another way because it's so easy to throw a switch.
And even though I know it's diversified and there are many thousands if not millions of loops involved in a circuit, it still can be done. If you can imagine these computer scientists with NSA turning their attention to the task they could probably do it fairly quickly with all the equipment and brainpower and computing power they have.
Then if that fails, all the governments have to do is just decree that no one can use bitcoin and then force them into the black market. So what I'm saying is that there are tools that these totalitarian machines can and will use against bitcoin. Will bitcoin survive? I don't know. I hope it does. But we have to be realistic and be prepared for what could occur.
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