Bitcoin Proponent Max Keiser Says, Now That JPM Coin Launched, Institutions Turn To BTC
Recently, the major US bank, JP Morgan released its very own digital coin called JPM Coin which is to settle payments instantly between its international clients.
What has been characterized as the “Bitcoin Killer” by the mainstream media doesn’t even come close to being a cryptocurrency. However, it did rustle the feathers of XRP as their territories do overlap. However, Ripple CEO, Brad Garlinghouse countered by saying, JP Morgan is missing the point.
Now, according to the Bitcoin advocate and the founder of Crypto-focused venture fund Heisenberg Capitals, Max Keiser, there is something good that came out of this so-called “stablecoin,” as the mainstream promotion Bitcoin, Ripple, and cryptocurrencies got from the launch of JPM Coin can be very well seen.
Keiser who has been very clear on his anti-Bank perspective that they are real perpetrators has been a long-time Bitcoin advocate on his Keiser report and of course social media while calling out the bankers that are basically stealing from the general public.
Keiser’s rant or should we say, impassioned speech at the Erasmus University in Rotterdam from 2015 where he calls Wall Street bankers “terrorists,” recently got a re-post.
“Wall Street is fraud. America is fraud. The world is fraud. Banks are fraud. Central banks are fraud. […] It’s all based on fraud. […] To suggest that there is any moral or ethical aspect to anything that’s going on now is to be completely naive about the fact that we live in an era dominated by financial terrorists. Terrorists. Terrorists. Terrorists. Jihadis of banking. They’re here to kill you and themselves. They don’t care because they’re trained at Madrassas called Princeton, Harvard, and Yale.”
And as for how do we stop it,
“There’s only one way to stop it! Raise the interest rates right now! Make the cost of terrorism too high! Do it today! If you don’t, you’re the f***ing terrorist!”
Whether it has been the Brexit chaos or the ongoing French protests, he has one answer to it all, Bitcoin. A digital currency that is uncensored and borderless and eliminates the likes of banks and financial institutions from the middle.
Recently, in an interview with a crypto media channel, he had shared that while bank failures and political unrest has always driven Bitcoin adoption, its competitor, the US Dollar’s uprise has been affecting its prices negatively.
When it comes to JPM coin, other industry experts are echoing similar thoughts as Max Keiser. Anthony Pompliano, founder and partner at Morgan Creek Digital recently stated,
“From 1834 to 1971, someone could redeem gold for their dollar bills. Today J.P. Morgan claims you can redeem $1 for every JPM Coin. Eventually, the bank will get greedy and not allow redemptions too. Just a matter of time.”
Meanwhile, an export deal has been settled between Argentina and Paraguay in Bitcoin which is a first for both the countries, where Argentina applied to the Latin American financial services provider, Bitex that supports Bitcoin payments.