By IM Vronsky – Re-Blogged From http://www.Gold-Eagle.com
The generally accepted definition of TROJAN HORSE (*) is a person or thing intended secretly to undermine or bring about the downfall of an enemy or opponent. In today’s world, the THE Trojan Horse is Bitcoin – manned by ‘geeks’ using the unbridled greed addiction to attract naïve, innocent and ignorant investors of Troy (i.e. Wall Street).
However, many worldwide recognized monetary mavens, pundits, gurus and experts have emerged to inform and alert the investing world to the eventual dire consequences of the phony currency labeled Bitcoin. Here following are just a few sage well supported views condemning the Bitcoin scourge.
Jamie Damon, CEO and President of JP Morgan Chase Bank says bitcoin is a ‘fraud’ that will eventually blow up: https://www.cnbc.com/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html
Ray Dalio, founder of the world’s largest hedge fund, says ‘bitcoin is a bubble’
New York (Sept 20) Bridgewater Associates founder Ray Dalio said Tuesday he is not a believer in cryptocurrencies. “Bitcoin today you can’t make much transactions in it. You can’t spend it very easily,” Dalio said on CNBC’s “Squawk Box.”
“It’s not an effective storehold of wealth because it has volatility to it, unlike gold,” the hedge fund founder added. “Bitcoin is a highly speculative market. Bitcoin is a bubble.”
The investor said there are two important facets to being considered a valid currency: ease of transactions as a medium of exchange and being a “storehold of wealth.”
“It’s a shame, it could be a currency. It could work conceptually, but the amount of speculation that is going on and the lack of transactions [hurts it],” he said.
Dalio wrote about his life lessons and the initial failures during his career in his book entitled “Principles: Life and Work,” available on Tuesday.
His firm currently manages about $160 billion, according to its website.
Dalio’s negative comments come a week after JPMorgan Chase CEO Jamie Dimon also took a shot at bitcoin, saying the cryptocurrency “is a fraud.”
“It’s just not a real thing, eventually it will be closed,” Dimon said at the Delivering Alpha conference presented by CNBC and Institutional Investor.
Peter Schiff is a best-selling author and CEO of Euro Pacific Capital. His sage thoughts on Bitcoin may be seen at the following link: Fool’s Gold
Dr. Keith Weiner is the CEO of Monetary Metals and the president of the Gold Standard Institute USA. His views on Bitcoin are at Tragedy Of The Speculations…BITCOIN
Hugo Salinas Price is a very successful Mexican businessman, who is encouraging his government to accept silver as legal tender. He believes Bitcoin will become a history of mass speculation that came to grief. The Bitcoin: A Chapter In The History Of Mass Speculation
Be Aware…and BEWARE: Bitcoin ETF Rejected by the SEC
FBI & CIA OPINIONS OF BITCOIN (multiple links clearly demonstrating Bitcoin as a “criminal tool”):
Aug 30, 2016 – A former counterterrorism analyst for the CIA has found that terrorists are utilizing innovative technologies to boost their funding, one of which is through the use of bitcoin… He states that it is the first terrorist group to publicly use the digital currency.
A savvy investor compared cryptocurrencies (i.e. Bitcoin) to the Tulip mania of 1637, the South Sea bubble of 1720 and the Internet Bubble of 1999. Bitcoin SCAM warning: Currency is ‘pyramid scheme’ says top investor who predicted crash http://www.express.co.uk/finance/city/833706/Bitcoin-scam-price-news-cryptocurrency-pyramid-scheme-forecast
BITCHCOIN…is a Ponzi scheme—the Internet’s favorite “currency” will collapse.
ECB’s Nowotny: Bitcoin unstable, too vulnerable to speculation:
More To Think About….
- Bitcoin mining — a new way for North Korea to make money – CNBC.com
- Bitcoin is ‘disruptive technology’ but pricing assumes massive adoption: Mohamed El-Erian – CNBC.com
- Bitcoin: Battle of the techies vs. bankers – CNBC.com
- Bitcoin is ‘disruptive technology’ but pricing assumes massive adoption: Mohamed El-Erian
- ICO crackdown may just be the start: China is reportedly planning tighter cryptocurrency rules – Reuters
- China Is Shutting Down All of Beijing’s Bitcoin and Cryptocurrency Exchanges
Bitcoin Is Tantamount To Monopoly Money:
The Crypto-Crap known as Bitcoin will inevitably and eventually disappear à la ill-fated currency of Zimbabwe. Indubitably, BITCOIN is destined to become the Zimbabwe 100 Trillion Dollar note of the future:
Blind Bitcoin Buyers should heed sage wisdom: None are so blind as those who refuse to see.
(*) Trojan Horse is a tale from the Trojan War about the subterfuge that the Greeks used to enter the city of Troy and win the war. In the canonical version, after a fruitless 10-year siege, the Greeks constructed a huge wooden horse, and hid a select force of men inside. The Greeks pretended to sail away, and the Trojans pulled the horse into their city as a victory trophy. That night the Greek force crept out of the horse and opened the gates for the rest of the Greek army, which had sailed back under cover of night. The Greeks entered and destroyed the city of Troy, ending the war. – Wikipedia