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Trying to spook the market? Maybe working.
Veteran Investor Says Governments Are Planning to Totally Outlaw Bitcoin
Cryptocurrency to mimic gold?
March, 2021Paul Joseph WatsonBarcroft Media via Getty
Veteran investor Ray Dalio warns that governments across the globe are planning to outlaw Bitcoin because the financial elite cannot tolerate something that they don’t have monopoly control over.
“Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing,” Dalio told Yahoo Finance.
“So, I think that it would be very likely that you will have it, under a certain set of circumstances, outlawed the way gold was outlawed,” he added.
Dalio cited the 1934 Gold Reserve Act, which ended all private holding and use of gold as money. This followed the previous year’s Executive Order 6102, which made it a criminal offense for U.S. citizens to own or trade gold and led to a widespread confiscation program.
The investor said that Bitcoin’s volatile nature also posed a threat to financial elites’ control of money and banking, “because things can get out of control.”
Back in January, head of the European Central Bank Christine Lagarde called for global regulations on Bitcoin, labeling the cryptocurrency “reprehensible.”
“(Bitcoin) has conducted some funny business and some interesting and totally reprehensible money laundering activity,” said Lagarde, who herself was previously found guilty of financial negligence by a French court.
Bitcoin is also despised by cultural and media elites because it allows people who have had their lives turned upside down by deplatforming and denied banking to continue to operate.
One wonders what the trigger could be to create the moral panic around Bitcoin to grease the skids for its criminalization.
Perhaps a massive terror attack that was wholly funded by the cryptocurrency?
The value of Bitcoin has continued to surge in recent months and now stands at over $51,000 dollars.
Holding tight pretty much although even a balanced portfolio is not immune right now. Considering adding at this point, but I am waiting. I think it may go a bit lower yet. I am talking about all my holdings, BTC, ETC, BAT, MANA, COMP, LINK.
Pretty ugly market at the moment. I have a very balanced portfolio, but even it is hit across the board. Cause and effect, I am not sure. My gut says profit taking after a heated market. Time to buy and average down? Maybe.
killer chart!
Thank you Stockvapor. Solid advice.
Yes indeed Stockvapor. Good morning all, and favor and prosperity to all your dealings today.
Roger that Lakingsphan. I recall a couple of folks saying that now.
Actually waiting to buy them on Coinbase yet.
I started a spreadsheet I made with all transactions on it. That in turn is on an encryptable thumb drive! I have hard copies of all my transactions printed, and a back up of the thumb drive in my home safe.
typo correction---->If it gets in low 90's again, or especially 80's. I am loading a little more that usual.
Ha! Light on my holdings but I like the infrastructure. We shall see.
That is what I am waiting on too.
If it gets in low 90's again, or especially 90's. I am loading a little more that usual. Average right now in low 50's so I am feeling pretty good. But I'll keep adding. This is cheap at this level i believe. Good fortune and blessing is my prayer here for everyone.
Anyone holding Stellar Lumens? I have a small holding in it, but curious what everyone else thought. My apologies that this is not on the XLM board, but there is more conversation here.
Thank you Sir. I had already marked you as well.
That is a killer portfolio too. I think many of us have sold too soon. I did yesterday with some BAT in getting some original funds off the table. Imagine some folks that sold bitcoin at 10 grand and thought it was great!! I think in these early days of crypto, buy and hold may be the name of the game?
Wouldn't that be something?
Just......Wow!
Love this token. Very bright future.
I agree with you on BAT. I actually took some off the table at 1.03 yesterday. Got most of my initial back and am now riding house money (tokens). I really hope I can buy some more at lower prices on some dips.
Liked "My buys at $0.09-0.12 are looking gnarly"
Way to go. Nice.
I like this token. Good buys.