BIS vs Crypto...

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Lately, there have been a slew of rhetoric and articles from the BIS (Bank for International Settlements) & its army of central banks along with other criminal entities such as the IMF. I have no doubt this is a concerted effort on their part along with the complicit mainstream/corporate media to undermine and ridicule the emerging crypto & blockchain industry.

You see the bottom line for this is that they want to - at all cost - preserve their own criminal conglomerate (i.e., the International Banking Cabal) in the endeavor of creating money out of thin air - something the BIS head, Mr. Carstens, is hypocritically and conveniently omitting from his fat trap.

Let me just shred to pieces some of the latest BS that the BIS is trying to virtue signal to the masses.

In a very "loaded" and "safe" June 25th interview "My message to young people: stop trying to create money"with Basler Zeitung (the Swiss trash rag mouthpiece magazine of the BIS) the [very BIG] head of the BIS Carstens responds to several questions:

"Don't you think it's a positive side effect that Bitcoin has got many young people thinking about money, money creation and the financial system?"

for which he responds:

"It's a fallacy to think money can be created from nothing."

OMFG! Are you kidding me? Each and every one of your member central banks does exactly that - CREATE MONEY OUT OF THIN AIR (mostly through digital entries on a computer).

But I especially like the beginning of the interview where Carstens is asked about his early interest in finance and money. It begins when as a child his mother explains the meaning of inflation to him. Although he is boasted as being an extremely bright individual, the chief banskter-du-jour has completely forgotten the meaning of the term. Moreover, the article/interview tries to portray the former Mexican Central Bank Governor as a savior who fights for the little guys and the peasants as he states:

"I experienced back then that inflation and financial instability can adversely affect people's lives." [emphasis added]

I guess somewhere along the line (perhaps at those highly intoxicating banking cabal parties) he forgot that excessive money printing/creation - a practice of most central banks (particularly as seen by the expansion of their balance sheets since the last Financial Crisis) is exactly what leads to inflation. But maybe he is simply joking as the article states "His fellow academics in Chicago, where he gained a doctorate, praise him also for his patience and his humour." A "doctorate" and he doesn't even know the meaning of the term inflation. Chicago, what exactly are you teaching your post-grads?

More on the topic of inflation, Carstens states:

"In my experience, it is always the poorest who suffer the most from inflation. It is therefore the duty of central bankers to ensure that purchasing power is maintained."

Can you explain to me how exactly the central bankers fulfill their duty to "ensure the purchasing power is maintained"? Can it be by money printing/creation? I think not. Perhaps it could be by reducing the money supply; but when is the last time that action was taken by any of your central banks? (I doubt even once since 2008).

And it is the "poorest who suffer the most from inflation". Oh, you mean like the elderly who count on higher interest rates and rates of return on their savings accounts and their government bonds for which you have decimated since the Financial Crisis? Well, at least you are correct in your statement. Too bad your BIS policies are not doing anything to counter inflation.

You praise the openness of the BIS. Are the other international financial institutions lagging behind?

He responds:

"As you know, I was in the running to become Managing Director of the IMF. In the end, I lost out to France's Christine Lagarde. She got the post on merit, and I think she is doing an outstanding job."

The IMF (along with the World Bank) are another set of criminal banksters just under the rung of the BIS:

And they have been looting and decimating third world countries for decades as is outline in my post The International Banking Cabal Exposed: PART III - The IMF & World Bank which is highly annotated by John Perkins, author of ‘Confessions of an Economic Hit Man’.

As for Madame Lagarde assignment to the post based on "merit", well, I will leave that up to the millions of displaced and looted people from third world countries decimated by her institution to decide.

Are cryptocurrencies money?

"No, they are not money;...They cannot assume the functions of money..."

and elaborates further:

"Cryptocurrencies do not fulfil [sic] any of the three purposes of money. They are neither a good means of payment, nor a good unit of account, nor are they suitable as a store of value. They fail dramatically on each of these counts."

Although some could contend he is partially correct on some of these, you have to keep in mind that cryptocurrencies are a nascent form of technology that do in fact hold the three attributes of money (as well as the other two). The vagueness of his statement lies in the fact that he is generalizing and putting all cryptos into one pack which is quite idiotic to say the least. Although crypto prices are more volatile (due to their novelty and many of them not being sound in nature), the more established ones offer a much better store of value than fiat currency issued from your central banks which are continuously debased/devalued due to excessive expansion of their supply. Bitcoin and many other cryptos are fixed in their supply which means that they will hold up much better against traditional fiat with regards to inflation. (But hey, he doesn't know the meaning of the term which thus explains his ignorance (or perhaps nescience) on the issue.

And its only a matter of time before they become a "good means of payment".

In fact, payment via cryptocurrencies are much faster than transactions held at traditional banks. Funds can be transferred within a matter of a few minutes, compared to a few days with banks. Moreover, funds will not fall under the scrutiny and BS regulations by banks with regards to origin, amount, suspicions, and recipient/country of reception (a recent example: Black: Guess Which Bank Just Froze My Funds Over A Simple Transfer) which can delay transaction for several days or even weeks.

Cryptos & Blockchain technology are already superior to traditional banking transactions which much lower fees. And over time, fees will decrease dramatically as competition in the space increases.

Let's face it Mr. Carstens, you central bankers are in denial in your own fantasy dinosaur land of make believe.

Mr. Carstens continues his bashing of cryptos with:

"But if you look at them closely, cryptocurrencies are, in a nutshell, a bubble, a Ponzi scheme"

No, sir, the bubble or Ponzi Scheme is the pyramid scheme of fiat that has been plaguing humanity for the past century or so.

One need only look at the debasement of the US dollar since its inception in 1913:

I would also note that it was in 1913 that the IRS (Internal Revenue Service) was created which collects income taxes which are used to pay the servicing of the debt of each and every single Treasury Note your US Central Bank produces along with a 6% dividend which is payed yearly to its owners (other big commercial & investment banks as well as prominent families).

I will end with another area of note for this interview. Namely, with the "transparency" and "secrecy" of the BIS. For this a few of Mr. Carsten's quotes:

"We want to be a more open and more transparent organisation."

To some effect, he is right. After all, they do state on their own website that the BIS, its employees & assets enjoy complete immunity from prosecution (see below).

And when asked nonchalantly by the bogus interviewer:

A well respected book about the BIS made reference to the "secret bank that rules the world". How secret is your bank in actual fact?

He states:

"and as for ruling the world: hardly!"

Really? Central Banks don't rule the world? I think he needs some extra reminding:

Carstens also mockingly states:

"Well, here you are sitting inside it, so - so much for secrecy!"

Really? So the BIS doesn't enjoy full secrecy & immunity?

Let's explore just a tiny bit of the BIS' stated policies:

For a more detailed look at the fraud/ponzi scheme/luciferian criminal enterprise that is the BIS, I invite you all to read part 3 of my exposé on the The International Banking Cabal Exposed: PART II - The BIS

Meanwhile, Mr. BIG CRIMINAL BANKSTER CARSTENS, I and the rest of humanity implore you, and your banker buddies like Bank of England Governor Carney, to stop bashing cryptocurrencies, end your own fraud and criminal activities, and mostly: