Chief Executive of JP Morgan Chase Jamie Dimon Shows Strong Signs of Fearing Bitcoin, with Temper Tantrum Quote

This is one of the largest public endorsements I have seen of Bitcoin and the cryptocurrency market. This may be counter intuitive when you read what Jamie Dimon said but stay with me.

Major value-tanking of Bitcoin was done the early hours of September 13th as the news spread about Jamie Dimon, the Chief Executive of JP Morgan Chase – stating that Bitcoin is a “fraud” and anybody trading it should be fired as it’s a stupid idea. 

So those that are just looking at this at face value and really do not know about or how the fractional reserve banking system works may be worried about Bitcoin and the cryptocurrency market. But this is really a HUGE endorsement of Bitcoin and the entire cryptocurrency business model, because for someone like Jamie Dimon to publicly shame Bitcoin he has to really be scared of the future of banking.

This is like the CEO of Marriott stating, “Airbnb is a ‘fraud’ they own no property if you are using Airbnd you should be fired as it’s a stupid idea”. Which from his perspective it is a stupid idea, only because it is a disruptive model that is changing the way the world travels today and it is directly taking travelers out of Marriott hotels.

But the stakes are so much HIGHER in the banking industry. The commercial banks are dependent on the fractional reserve banking system which is completely dependent on easy fiat money from central banks. There are plenty of videos you can watch on YouTube that explain how the fractional reserve banking system works, if you need a better understanding. So I will not go in to a deep explanation here. Here is an example:

Due to the fact that when a bank loans you money and charges you interest on that money, they do not actually have that money (only a tiny fraction of it), in-fact that money is a digital entry in a centralized ledger that gives them the power to have that money created and loaned to you, because the demand for the loan exists and they have a fractional reserve of other fiat (Google Fiat Money) money ( public deposits).

This system allows the elite banking class to create money out of thin air (in fact 97% of all U.S. dollars only exist in digital currency on a ledger not in actual cash) They loan this money not only to the public but also to the government and charge interest on this money. This is where our trillions of dollars in national debt comes from and the tax money to pay this interest goes to these non-gov’t private bankers. This is a massive way to transfer wealth to a small elite class and away from the middle class.

So when a major member of the elite class publicly says Bitcoin is a fraud, it is not because he is looking out for the public's good will, it is because the cryptocurrency market is outside the system. If the public were to stop depositing money in banks and used bitcoin or other cryptocurrencies to exchange value, it would reduce their reserves which would reduce their ability to create money from nothing, hence it is a stupid idea (from the banks perspective). Because they thought of it first and its unfair for you to come out with a better way to do this, which does not continue to funnel money into the elite’s pockets!!!

This is a very simplified view of this concept, I would highly recommend educating yourself on #Cryptocurrency, #FractionalReserveBanking, #CentralBanks, #Rothchild Central Banks, Rothchild Net Worth, Who owns the Federal Reserve, #Bitcoin, How money is created…

Don't get me wrong I believe in banking. This is a needed institution that creates huge value for our society. Which allows for people with exceptional ideas to have access to resources to create business prosperity. But we need to have reform that levels the playing field so there is not a huge flow of money into just a few elites. Money needs to be a tool that is used for the good of humanity and not a tool that economically enslaves a world,