By Sprott Money
Central Bank “Cryptocurrencies”? Just a Different Kind of Funny-Money
Written by Jeff Nielson, Sprott Money News
It is quite hilarious to watch the posturing of central banks and their media mouthpieces on the subject of cryptocurrencies. A recent Reuters article on the subject provided numerous moments of mirth. The title alone is good for a chuckle.
Too Soon to Determine Risks of Central Bank-Issued Cryptocurrencies: BIS
It’s always amusing when these shameless con-men (and women) attempt to portray themselves as sober arbiters of risk. Those who understand our monetary system are aware that the funny-money that these shysters are currently peddling is completely worthless.
The “fiat currencies” of Western central banks have had highly questionable value ever since the final connection to the gold standard was severed in 1971. However, since 2009 there has no longer been any question at all – ever since the Federal Reserve launched the Bernanke Helicopter Drop.
U.S. dollars have value only to the extent that they are strictly limited in supply.
— B.S. Bernanke, November 21, 2002
Since 2009 and the era of unlimited dollar-supply began, the U.S. dollar (and all its fiat currency derivatives) has been completely worthless. It …read more