“Speaking to Swiss newspaper Basler Zeitung last week, subsequently published by BIS itself, general manager Agustin Carstens cautioned “young people” against “trying to create money,” drawing comparisons to Bitcoin mining…
Glance back into the past and you will see that creating gold or money from nothing has been a regular obsession. It never worked. Even the great physicist Isaac Newton was at one point in his life obsessed by alchemy and the idea of making gold. He was very successful in a number of fields, but in this one he failed. Newton ended up as head of the British Mint. Why? Because he could detect at once if a coin was counterfeit. After he failed in his attempt to make gold, he switched sides and sent counterfeiters to prison.
So my message to young people would be: Stop trying to create money!
“Those who have the biggest incentive in the system of these so-called cryptocurrencies are those who produce the assets – the miners… This incentive, however, is not compatible with maximising the usefulness of money,” he told the publication.
“Cryptocurrencies do not fulfil any of the three purposes of money. They are neither a good means of payment, nor a good unit of account, nor are they suitable as a store of value. They fail dramatically on each of these counts.”
https://www.zerohedge.com/news/2018-…your-own-money
Commentary
Cryptocurrency has been the single greatest threat to the Rothschild monopoly on creating money out of nothing. The Bank Of International Settlements (BIS) is the mother of all Rothschild central banks, and its public criticism of cryptocurrency is a tacit admission that they don’t like the competition.
Of course, BIS fails to mention that their central bank lackeys have created their own cryptocurrency – Ripple – to complete with the independents.
So what now?