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Common Ground Independent Media


Bitcoin Mania - If left Unchecked - Will Collapse the Entire Global Financial System

Posted By: GeorgeEaton
Date: Saturday, 16-December-2017 18:14:31


If you haven't already heard what is going on today with the Bitcoin phenomenon, it is a new type of money system - which is stored, bought and sold electronically on a computer through the internet. It can be traded, bought and sold like stocks and people are now becoming millionaires over night. This investment frenzy cannot be fully described without referring to the great tulip mania that happened in Holland in 1637. It became fashionable at that time to grow a variety of tulip bulbs that would have special colors. The local stock market started to sell futures on the tulip development on who could come up with the most valuable tulip bulb. One of the types they were trying to create was a black tulip, which eluded the tulip developers for years. At one point the price for tulip bulbs sold for more than 10 times the annual income of a skilled crafts worker. But as fast as the tulip mania exploded on the financial markets it then suddenly collapsed leaving a lot of people financially ruined and destitute.

Right now the main crypto coin, Bitcoin,is over $18,000 a coin and there are over 1,200 alternative coins that people buy on speculation - just like people buying and selling penny stocks on Wall Street. Crypto currency values are now more than $500 billion and growing rapidly everyday. From the invention and inception of these coins it was obvious it broke several laws and regulations regarding money creation and federal laws. But for some reason it was not stopped from developing into a global market. Perhaps it was just considered a novelty at first by the bankers and they never considered how big it would become - but now it threatens the banking industry and the valuation of national currencies.

I am beginning to wonder that the primary reason the US and its allies have decided not to attack North Korea at this time is to allow the bitcoin mania to continue generating a financial boom world wide. This is without a doubt a phenomenon unprecedented in world history. What other international event could stir the people world wide to spend their money in the markets as they are today? The fact is 20% of all the trades on Bitcoin and all the other crypto coins takes place in South Korea. And another huge percentage comes from Japan as well. When you consider the need for a healthy financial system and economies to require an infusion of cash to prevent a global depression - what we are seeing is nothing short of a miracle as far as the bankers and corporations are concerned. Once the financial experts and the politicians saw this spontaneous activity take place it appears to me that they concluded it was better to take advantage of this investment frenzy rather than put a halt to it. In normal times the federal reserve, the banks - and the politicians who serve them would have immediately outlawed or regulated the Bitcoin mania to protect their monopoly of controlling currencies. Instead they have allowed it to continue, knowing full well it is not a legitimate currency, and a direct threat to their control. Millionaires are being made overnight as the investment phenomenon continues. People are abandoning gold and silver as investments and set aside the stock market as well because the profits are so high and steady with the crypto coins. The Chicago stock market has been the first to place Bit coin futures available for trade. On December 18th the New York Stock Exchange does the same. The value of the coins are so high now it is surpassing entire nations economies and a collection of the richest billionaires in the world. Within 2 years it will be worth more than all the national incomes of the world combined. How is this possible?

It is happening because it has been allowed to happen. The result, if this is not stopped and heavily regulated, will be the collapse of national currencies world wide. Does that even sound remotely feasible? Absolutely not. It is not rational, not reasonable and does not remotely match the behavior of the banks and politicians behavior regarding control of currencies and the financial system. The truth is this is being allowed to continue to drain the public of their money as a tax, and then at a time of their choosing, in the not too distant future, they will pull the plug on this activity and the entire house of cards will collapse. What goes up at a high rate will come crashing down at a high rate. Anything that is too good to be true, is too good to be true. Financial experts are coming up with nearly unlimited ways to exploit this investment mania. Average citizens are seeing their friends become wealthy overnight and feel like a fool for not doing the same thing. Everyone wants to get a piece of the action now. They are borrowing money, putting second mortgages on their homes and using their savings to invest in the crypto coins. It has become the perfect storm for investors as more and more millions throw money into the system to buy the coins.

It is nothing less than a Ponzi scheme, a pyramid scam to get people to buy into a counterfeit product that actually has no intrinsic value whatsoever. It is nothing more than the creation of fiat money like the federal reserve creates, but now it is on a hyper scale worldwide, on steroids, unregulated and unchecked. If it is allowed to continue it will exponentially touch billions of lives to the point there is no more money available to purchase the coins, and then it will collapse in on itself, leaving the global citizens staring at worthless numbers on a computer screen.

This is a god send for the international bankers. They are rubbing their hands with greed as they exploit this scheme and benefit from the buying frenzy. They may not have directly started this program, but now that it has taken hold of the people you can be sure they will exploit it to the hilt for more profit and control of the people. Once they see as much money as possible leaving the public, and they see the financial gain hitting its peak in the global economy, they will then pull the plug and make an emergency announcement to the public that they have to step in to save the financial system "to protect the people". This is all contrived. This is all being allowed to happen for a reason. This is the largest financial event in world history and you are seeing it unfold before your eyes on a daily basis. This is like a global gold rush where millions of people can become rich off this buying and selling frenzy. But, when the music stops they are going to be left holding worthless accounts of electronic wallets. And those that were lucky enough to cash out before the crash will then have to deal with a devalued money system and national economies in shambles. There will be more layoffs and an instant economic depression due to the crash. But for now everyone is focused on making more profits as fast as possible from the computer generated coins. The computer systems around the world are consuming enormous amounts of electricity 24 hours a day to create more algorithms in what they call "bitcoin mining".

As the system is set up there are 21 million algorithms and 16.5 million have already been "mined". This kind of a complex system is a computer geeks heaven, but the older generation haven't a clue what they are talking about.

Many are calling this a revolution against the banks, where the public themselves created their own money free from government and banking control. The great majority of all articles on this subject on the internet are in favor of bitcoins and very few are expressing a warning against it. I have been on line on the chat sites while the numbers and charts are displayed on the screen showing how bit coins are going up. I have chatted with people from all over the world about this activity: Brazil, Saudi Arabia, England, Portugal, South Korea, Australia and all across the nation. Seventeen year olds living with their parents have gotten into this and have already made $ hundreds of thousands and expect to make over $1 million this year. I have seen their videos and their computer screens showing the actual numbers coming in their coin shares and how much money they have made. This is real, it is happening and it is extremely difficult to argue with people that are making this kind of money. But it can't last forever. There are only a few months left before the numbers become so large it changes our financial system and the economy. I simply can't imagine the globalists allowing this to continue very much longer. The longer they wait, the higher the valuations will become and the harder the crash will be when it eventually happens. When that happens gold and silver prices will go up again as people drop the hype for bitcoins and get back to things that have real value.

George Eaton


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