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March 21, 2018 - Health Ranger - Mike Adams
11:19
Is BITCOIN really a FRAUD?
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Mike Adams.
The ADA and the AHA and the ACS, you know, American Cancer Society, they literally promote the very things that cause the diseases that they claim to be trying to fight.
The Health Ranger Report.
They actually give people advice that worsens their disease.
It's unbelievable.
It's time for the Health Ranger Report.
And now from naturalnews.com, here's Mike Adams.
Well, Jamie Dimon, the head of J.P. Morgan, just declared Bitcoin to be a complete fraud, said it was a total scam, that it would crash, and that if any of his own employees invested in Bitcoin, he would fire them.
That's the head of J.P. Morgan.
Just like I said, this is coming down.
The big banks of the world are not going to sit by silently and do nothing and allow Bitcoin to make them obsolete.
So thank you for joining me.
Mike Adams, the Health Ranger, here.
I am a cryptocurrency advocate in the general sense, but I've also sounded the alarm for several months now that Bitcoin is a Ponzi scheme bubble and a fraud.
And I've warned people not to invest in it.
Now Jamie Dimon is, in essence, mirroring exactly what I've said.
I've been saying it for months.
Jamie Dimon is saying it now.
So what is his point, though?
What's the basis for him to say that?
Well, Bitcoin has risen 300% this year alone in roughly, I don't know, eight or nine months.
Has Bitcoin announced some invention that's worth so much money that the whole company is worth 300%?
I mean, it's not even a company.
So...
Bitcoin doesn't have a corporation behind it.
It's not backed by any government or any law or regulation or corporation at all.
But what has it done that's worth 300% more?
Has it acquired 300% more assets?
Has it invented something that's worth 300% more?
No.
None of these things.
The only thing that has happened is there's 300% more hype for Bitcoin.
You got that?
300% more hype.
Classic bubble behavior.
An obvious Ponzi scheme.
It's so obvious that, in retrospect, all those who are right now saying Bitcoin's going to go up forever, they're going to be so ashamed of being such fools, being suckered into this so easily when it's an obvious Ponzi scheme.
Of course it's a Ponzi scheme.
What do you think keeps the Bitcoin price going up?
New people buying into it.
And why are they buying into it?
Because they think it's going to keep going up.
It's tulip bulb mania all over again, but Jamie Dimon said it's even worse than tulip bulb mania.
In many ways, you know, it's much bigger.
It's going to crash harder.
These people are incredibly deluded.
And yet they're so sure that they're right.
They're so sure that the rules have changed that it's different this time.
That's what they tell themselves when they look in the mirror, when they advocate Bitcoin to other people.
They tell themselves, oh, it's different this time.
They think the rules of economics don't apply to them.
They think they're smarter than everyone else.
They think they're smarter than all the people who have ever lived before them in the history of the world.
And they think that everybody else who got suckered into the tulip bulb mania or the railroad mania or the dot-com mania, they think all those people were stupid and foolish, but they, the Bitcoin promoters, they're the smart ones.
They, for some reason, in all of human history, they have magically emerged as the exclusive smart people.
Who have suddenly figured out something new, a shortcut to the rules of economics, a perpetual motion money-generating machine.
That's what they think they've invented in complete violation of the laws of reality.
This is the modern-day Bitcoin age.
I mean, it was just two years ago, I remember, when everybody was hot on 3D printing.
You know, everybody's talking about 3D printing.
We're going to fabricate things.
We're going to make things.
And, you know, I purchased many 3D printers, and we actually use them for production.
We print parts that I designed for the Food Rising Grow system.
We sell those every day through the Health Ranger store.
So we use 3D printing to make something, to make something that solves a problem.
It allows people to grow food.
But pretty soon, interest waned in 3D printing, and everybody went over to cryptocurrencies.
But what does cryptocurrencies make?
Nothing!
Nothing at all.
There's no product of Bitcoin.
There's no physical output of Bitcoin.
It doesn't lend any actual absolute wealth to anyone.
And in fact, the people who own Bitcoin, they think they're rich if they have enough Bitcoins because they're looking at the price on a computer screen.
That's not real, people.
It's not real until you sell it.
Or as Steve Quayle famously said, if you can't touch it, you don't own it.
Repeat that to yourself many times.
If you can't touch it, you don't own it.
And that's true with Bitcoin people.
They can't touch the Bitcoin because it doesn't exist.
There's no output from Bitcoin.
There's nothing they can point to and say Bitcoin created that wealth.
It doesn't exist, unlike 3D printing.
There's nothing in Bitcoin that can be automatically redeemed for anything.
It's a fiat digital currency.
It's backed by nothing.
Which is especially shocking given how many of the Bitcoin promoters are saying you've got to buy Bitcoin because the dollar is going to collapse because it's backed by nothing.
Yes, the dollar is fiat currency.
We know that.
Bitcoin is digital fiat currency.
You see?
It's backed by nothing.
It's not even backed by a company.
It's not even backed by a bank.
It's not even backed by a government.
It's not even backed by the rule of law or a regulatory body.
Nothing.
It's a completely Wild West system, and yet it's dependent on the Internet.
And it's dependent, in many ways, on banks for its existence, which means Bitcoin can overnight be regulated out of existence.
All it would take is one announcement from the White House or the U.S. Treasury or the Department of Justice to say, we consider Bitcoin to be illegal in the United States.
And it's over for Bitcoin.
It collapses the next day.
The Ponzi scheme comes to an end.
And why would the U.S. government say such a thing?
Well, it's very easy.
Government officials announced today that Bitcoin was used to raise money for the terrorist attack, the dirty bomb that was set off in Chicago, as an example.
All they have to do is say, Bitcoin is the payment system for terrorists.
And they equate Bitcoin with terrorism.
And then they outlaw Bitcoin.
This is as simple as one, two, three, people.
They could shut off Bitcoin anytime they want.
And why haven't they done it yet?
Well, they want to have a maximum impact.
They want to make sure that after the Bitcoin crash happens and people are wiped out, that people never trust decentralized currencies ever, ever again.
They want to make sure that everybody has unlimited trust in the government and the central banks.
They want to make the Bitcoin wipeout so huge that people remember it for a generation or two.
So they have to make Bitcoin big before they crash it, so that the wipeout is sufficiently painful for people to remember, don't buy cryptocurrencies.
You think the central banks aren't buying Bitcoin like crazy right now?
Of course they are.
What do you think's been driving the price up?
Not just end users, but central banks.
They print their own fiat currency, fake money.
They use it to buy fake digital currency, i.e.
Bitcoin, drive the price up, create a bubble, get everybody all excited, thinking, oh, we're going to take over the world currency and make the banks obsolete.
And then one day, they just sell everything in Bitcoin.
Crash the system.
Everybody loses everything.
And everybody's left wondering, what happened?
That's the effect they want.
That's the effect that the central banks are aiming for.
And the day they pull the trigger on this is impossible to predict.
I can't predict it.
That's why I warned everybody to get out of Bitcoin a couple of months ago.
And it would be foolish to jump back in and try to second guess the crash day.
But the Bitcoin crash day is coming.
And it could be crashed by the central banks.
It could be crashed by the treasury.
It could be crashed by a government.
It could be crashed by hackers.
It could be crashed by a solar flare.
It could be crashed by...
An announcement of new quantum computing that breaks all the cryptography that underpins cryptocurrency, for example.
There are a hundred ways that Bitcoin can be instantly worthless, at least a hundred ways.
That day is coming.
We just don't know when it's going to be on the calendar.
So if you are left holding Bitcoin when that day comes, don't blame me.
Don't blame me because I told you this was coming.
I warned you.
To get out of Bitcoin while you still could, while there were still people buying it.
Get out now while you can.
You might be among the 1% or 2% who can get out because the other 98% to 99% are going to get mostly wiped out, completely wiped out.
It's going to be a devastating global cascading Bitcoin crash.
We don't know the day, but we know it's coming.
And believe it or not, Jamie Dimon agrees with me on this point.
I can't believe the head of J.P. Morgan agrees with me on something like this, but we've both come to the same conclusion.
Now, will there be some other cryptocurrency that might rise up in its place?
Yeah, but it'll probably be one that's backed by J.P. Morgan or invented by J.P. Morgan.
It'll be one that gets the government behind it so they can surveil all the transactions.
It's not going to be the one they can't control.
They're going to destroy what they can't control.
And they're going to enslave you in a blockchain system that they can monitor.
Trust me on that point.
If you don't understand that, you haven't lived long enough to know how the world really works.
Simple as that.
Look in the mirror, grow up, and realize Bitcoin's going down because they can't tolerate it succeeding.
It's sad, but it's true.
That's the way the world works.
Follow more news on all this at bitraped.com or bitcoincrash.news.
Learn more at healthrangerreport.com.
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