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JP Morgan CEO: Bitcoin Is a Fraud

Extinction of the dinosaurs. Artwork of flying reptiles near the point of impact of a large asteroid. This asteroid is impacting the Earth's atmosphere at a speed of several kilometres per second. It is is some ten kilometres across. An event like this is thought to have caused the extinction of the dinosaurs 65 million years ago. The asteroid hit the ocean, sending tsunamis (massive waves) around the globe, destroying coastal areas. Water vapour thrown into the atmosphere lowered global temperatures. Plant and then animal life began to die off. The dinosaurs never recovered, and mammals rose to become the dominant form of life.

The cryptosphere shared some collective laughs on Tuesday over comments by JP Morgan-Chase CEO, Jamie Dimon that “Bitcoin is a fraud”. It’s very rich, indeed given that his company, with a reputation for being among the best-managed on Wall Street paid over $20 billion in fines and legal fees in the year 2013, alone due to its fraudulent banking practices.

Dimon also claimed that Bitcoin wouldn’t “end well” and that it would eventually be “shut down”, which would, by the way entail shutting down the Internet – which would be very bad for his casino bank!

Many were left wondering if he even knew what he’s talking about. Were these comments so much bluster because his job is being obviated by the blockchain?

He certainly knew what he was talking about, when explaining the motives of central banksters and the oppressor-states, when he said, “Governments…like to control the currency. They control it through a central bank. They also like to know who has it, where it is where it’s going, okay. You just saw China is closing down the Bitcoin exchanges.”

Were it not for the Great Firewall of China and the extreme censorship policies of the Chinese government, which banned Virtual Private Networks earlier this year (probably to squelch cryptocurrencies), it would be impossible to shut down Bitcoin there.

As for shutting down the Internet in the West, the only conditions where I could see that happening would be an Extinction Level Event, like a Cretaceous asteroid or a nuclear winter. The question remains, would the central banksters resort to facilitating a global conflagration that bombed the planet back to the proverbial Stone Age (aka shutting down the Internet), in order to put the crypto genie back in the bottle?

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