Monday, 4 December 2017

Oh Ho. Here we go...

There is nothing that governments hate more than competition, especially when it comes to the monopoly of money.  Hence I am entirely unsurprised by this.

The whole tax evasion / criminality meme is just an excuse.  I have no doubt at all that crims are using Bitcoin - but they use cash, especially USD, even more.  What was that story I heard about the Medellin narcotics cartel allowing for a 10% wastage in the accounting of their cash balances because rats were eating into its piles and piles of Dollar bills?  And the 1930's USA policy of making private gold holdings illegal and demanding that citizens exchange all their gold holdings for paper money?

When governments get desperate they always trend toward totalitarianism.

7 comments:

Ben F said...

What we cannot have is criminals *not* washing their dirty money through London real-estate.

Lola said...

Ben F Damn;. You've spotted it...:-)

Mark Wadsworth said...

Bleurgh. Bitcoin is a mad pyramid scheme, but it's a free world.

DBC Reed said...

What is the advantage of firms paying their workers in home-made tokens accepted only at the company store? It'll be the rich and powerful whose money is forced upon people.Joe Soap can make as many £1000 notes as he likes,he'll not find any takers.In the early days of the western expansion of the USA, people used to have some savings in notes from Eastern banks, only to find that out west nobody wanted to know.

fraggle said...

My (non-tech-geek) friend who does a multi-level marketing thingy has been posting a lot recently about the excitement of her new Bitcoin investment as it keeps going up. Bubble is officially on.

Lola said...

Dbcr. Bitcoin is not 'company money'.

DBC Reed said...

@L
I thought you were complaining about the government monopoly of money.Without this monopoly you would end up having to accept company money from your boss or from companies you do business with.
People are not excited about Bitcoin but its current convertibility rate to real Government money .
Of course it would help if the creation of government money was truly nationalised and not affected by the farce of borrowing from the commercial banks who make up the money from thin air and charge interest on it.Hitler, or his finance expert Hjalmar Schacht, cut out the middleman and issued German currency without borrowing first from the commercial banks.They got 6million unemployed back to work by the end of the Thirties.