More to the point, I’m not quite sure why we need it when we have well established offshore currency markets and accepted “stores-of-value” like the gold brick.
With that statement he's either completely ignorant, or flat out lying to the public. The "gold brick" 's exchange rate is being manipulated and held down with unlimited naked short contracts, the likes of which the history of the financial world has never seen. The Gold price is 100% centrally planned and controlled. There is no free market price discovery.
WRT Bitcoin, this is "why we need it", Bill.
Another good reason why Average Joe should never listen to any of these uninformed fools. Because they can't be bothered to do the research.