Josh Sigurdson talks with author and economic analyst John Sneisen about the recent attempt by media, banks and governments to crash Bitcoin alongside other cryptocurrencies, most recently in India.
Following comments by India’s finance minister Arun Jaitley regarding potential regulations to be placed on Bitcoin, medias throughout the world falsely reported that India was going to ban the cryptocurrency. Of course this isn’t even close to the truth, but nonetheless, it lead to a massive selloff.
This is nothing new. There has been an all out assault on the crypto markets by media lately based on innacurrate reports. We saw it with China, then South Korea, then China again, Japan and now India, all in the month of January! The selloff lead to panic which lead to more selling off.
What’s most interesting about this story is that India has been championing the cashless society system. The aadhar system where individuals put on a digital database can use their retinas to pay for goods and services as India is completely demonetized and everyone is forced into the banking system. This exemplifies the psyop. The confusion so many face. This notion that the centrally planned cashless society and Bitcoin are the same thing which is utter nonsense.
Many say Bitcoin is fiat. This shows a lack of understanding of what Bitcoin and what fiat really are.
Fiat is centrally planned legal tender currency based in debt, with no cap on circulation as central banks do absurd amounts of quantitative easing and fractional reserve lending.
Bitcoin is decentralized cryptographic competing currency on the free market based in scarcity, demand and application use and of course it is not enforced.
Many say that Bitcoin will be the global cashless society. This makes absolutely no sense at all. The IMF under the SDR have no use for a decentralized cryptocurrency. It must be centralized for them to benefit. A populace in debt is a populace in servitude.
In this video we explain the vast differences, why the establishment can’t stand free market competing currencies and why the establishment loves centrally planned digital currencies.
The blockchain can be used for good and evil. It’s up to you the individual to understand the differences and apply the solutions.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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