Topic: The most famous gold bug in China, Mr. Song Hongbing, started to support bitcoin (Read 6169 times)

He said:



It ( the dollar ) was created with gold backing, but in 1971, that ended. Its value now is what politicians and others say it is. He called these people "currency dictators".  The general users of dollars have no say in the value of these bits of paper.

Wow...even in translation his thoughts are very lucid and very insightful.  The comment on Bitcoin likely to cause a constraining of credit growth is something I hadn't thought about, but, I think in 10 years, we might all find out he was spot on.  

Time for me to read up on this guy...

In case anyone is interested, he wrote a series of books (http://en.wikipedia.org/wiki/Currency_Wars).  These are controversial but suggest private influence in governmental financial policies.  No wiki article on the man himself though.

How can a man believe in Rothschild conspiracies (like the control the Bank of England) AND be a gold bug.  A gold standard is exactly what Rothschild banking was built upon.  Apparently goldbuggery knows no bounds of nationality or intelectual consistency.

Given this is legit - it's huge!

Song Hongbing is the most famous gold bug and rothschild conspiracy supporter, had once been against bitcoin. His weibo account has more than 1.6 million fans. He said in his weibo.com(twitter like service) at the beginning of this year:
 
“看到网友总在提比特币、Q币、电子货币、支付宝等等互联网货币，本来不打算回应，太累，今天不困就多说两句。货币的关键是其背后的抵押资产，而不是其表现形式。货币可以是纸，也可以是电子符号，这无关紧要！重要的是央行用什么来作为货币的抵押品！国债？黄金？还是上网时长？比特币们，想清楚再说！”

“ I don't like to comment bitcoin. However, the most crucial element of a currency is the thing back it up, but not the existence . The money can be digital, paper or gold, and it's not crucial. What's bitcoin backed up? Bitcoiner should think about it."

Today, Mr. Song changed his mind:

 "金融危机之后，美元纸币体系的缺陷已是众目睽睽，货币独裁势力自1971年篡金自立以来，第一次遭遇严重的困境。货币民主力量从两个方向开始发难。一个是从历史方向出现的超主权货币的呼声（包括类金本位），另一个则是从未来的方向出现的比特币新势力。两者的交集都是制衡无节制的主权信用扩张！"

After the Financial Crisis, the fault of the U.S. Dollar system  is very obvious. The currency dictators has grabbed the power of money issuing from gold since 1971, and now it is most difficult time the USD system have. The democracy of currency has been in development in two directions. The first one is from the historical direction for some super sovereign money (including gold standard), and the other one is from the future direction like Bitcoin. The intersection of the two direction will constraint the immoderately credit expansion of sovereign money.


"比特币则遵从互联网精神，坚决要求废除一切货币集权，分立自主，不设央行，货币总量设置刚性上限，由严密的数学逻辑将人性的贪婪彻底排除于货币之外。"

Bitcoin is out of the spirit of Internet, demanding stop any dictatorship in currency. No central bank. The total supply of currency was limited by the law of mathematics, which get rids of any greedy nature of human being.