The Little Bity Coin that Scares the Hell Out of the Federal Reserve ~ Greg Giles

Bitcoin, named after a computer bit, is a computerized method of exchange not crippled by a tax like its dollar counterpart and functions without any help (thank you) of a centralized bank.    

Introducing
Bitcoin, the cute little currency that is accomplishing something that a
United States Senate hearing could not do; make the private owners of
the mighty Federal Reserve join the conversation. 

The
Federal Reserve, fearing it may be witnessing the currency of the
future and the end to an antiquated system of imbalance and even
outright fraud that has bled Americans dry for over 100 years, went into attack mode through their voices in congress who loudly
clanged the three bells of propaganda; terrorism, drugs, and ‘won’t
someone think of the children’, somehow connecting the computer based
method of exchange to financed terrorism (could you imagine a terrorist
sell bartering Bitcoins for a cashe of weapons? Drugs; Can you picture a
drug lord purchasing a truckload of raw opium with giant bags of
Bitcoins? And somehow managing to keep a straight face while trying to connect
Bitcoins with child pornography rings.) 

In
an about face an army drill sergeant would be proud of, Fed Charmian
Ben Bernanke seemed to foreshadow that the Fed may have a formidable foe
to face down the road saying; “While these types of innovations may
pose risks related
to law enforcement (Won’t someone think of the children?) and
supervisory matters (how can we exploit this?) there are also areas in
which they may hold long-term promise, particularly if the innovations
promote a faster, more secure and more efficient payment system”. 




On the investment front; Bitcoin hit an all-time high on Monday
reaching $750 on Mt. Gox, the Japanese based Bitcoin exchange, up a
whopping 107 percent from a
week earlier, while the Federal Reserve – not so much.  

Greg Giles

Source Article from http://feedproxy.google.com/~r/AscensionEarth2012/~3/sW6udma5pLo/the-little-bity-coin-that-scares-hell.html

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