Bullshit Research from Suffolk University : Federal Reserve Needs Power Over Bitcoin – Bull

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The Federal Reserve and European Central Bank should be given a mandate to monitor threats bitcoin and digital currency systems pose to the broader financial system, a new report from a Suffolk University researcher argues. Entitled “$=€=Bitcoin?”, the report speculates as to the potential dangers that the more widespread use of bitcoin as a digital money with no government backing, analyzing how circumstances arise where this threatens national and international economies. The paper follows a February 2014 statement from Federal Reserve chairwoman Janet Yellen, who said that the US central bank does not have the authority to regulate digital currencies. Further, the European Central Bank published a report last year that, while largely dismissive the technology, indicated the bank is monitoring developments. More broadly, the report argues that the mandate is necessary given that the general population is not aware of central bank boundaries, meaning the central bank could “bear responsibility” for a systemic crash should it affect either or both markets. The report reads: “Even if the central bank had no mandate to regulate virtual currencies, a failure of a widely-used virtual currency could imperil confidence in the central bank, which could adversely affect its ability to govern the more traditional money …

Fiat Money, What Is It?

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Fiat Money Money is a very obscure and almost supernatural topic for most people. Hardly anyone actually takes the time to understand how the monetary system actually works, how new money is created, and what role the Government actually plays in this process. If you don’t know much about these things you will be absolutely stunned when you first learn how it all actually works. To start with we need to understand how the current debt-based money system works and how it is rigged in all ways possible. The least of our problems is related to the fact we use fiat money. The short video below explains some important things you should be aware of. To sum it up rather quickly, most of the money in our economy actually represents a debt to the banks. What essentially happens is that banks loan out money which they do not have. Via the magic of fractional reserve banking they can loan out nine times as much money as they actually have in their reserves. When you get a loan the banks don’t actually take it from other accounts, so new money is created in the process. In other words: the more debt …