We wrote a couple of weeks ago that Bitcoin was under all out assault. The cryptocurrency was being attacked (and it continues) on all fronts, legally, through DOS attacks, in the media, by Jamie Dimon who surprise surprise said that the government would just regulate the alternative currency out of existence and “that would be the end of them.” Of course JPMorgan, Dimon’s company, has been trying to get its own rival “alternative” currency off of the ground.
I liked GE so much better when all I thought they made was light bulbs.
This guy was just thinking too small time, so he got busted. One has to go big to avoid prosecution.
This is not a radical idea though many will try to characterize it as such. 100% reserves for banks is actually quite a “conservative” idea.
With 100% bank reserves the credit addicts will scream and holler. The bankers will scream and holler. (Often they are one and the same.) Our economy however would be healthier.
I don’t agree with everything Professor Black prescribes. He and I have pretty different views as to the roll of government generally.
However he advocates shining a light on the dark swamp which is our worldwide financial system, where super leveraged bankers swim through the economic muck like pinstriped alligators. And we are certainly for that.