Bill Still - Gold Backed Cryptos?

Are gold-backed cryptos the answer? G. Edward Griffin thinks so.






Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today's money worth less tomorrow.

The digital currency Bitcoin promises all these things. And while it's far from achieving any of them -- its value is unstable and it's rarely used -- some have high hopes.

"There will be alternatives to the dollar, and this might be one of them," said former U.S. congressman Ron Paul. If people start using bitcoins en masse, "it'll go down in history as the destroyer of the dollar," Paul added.

It's unlikely that Bitcoin would replace the dollar or other government-controlled currencies. But it could serve as a kind of universal alternative currency that is accepted everywhere around the globe. Concerned about the dollar's inflation? Just move your cash to bitcoins and use them to pay your bills instead. Tired of hefty credit card fees? Bitcoin allows transactions that bypass banks.

Related: What is Bitcoin?

Even economists who embrace the power of central banks, like University of Michigan professor Miles Kimball, recognize the currency's potential.

"Bitcoin really shows governments are behind the curve," Kimball said. "It demonstrates there's a demand for an electronic equivalent of cash."

Digital payments make buying items internationally a smoother process, because exchange rates are gone and there are no cumbersome bank regulations or fees. It also enables people to make payments in areas without bank access or where carrying cash can be dangerous.
How I make money mining bitcoins

Related: Bitcoin worth $9M buried in garbage dump

But don't expect governments and banks to let Bitcoin take over so easily. Financial institutions will lose business if people stop using their payment systems, and central banks like the U.S. Federal Reserve would lose their ability to help slow and speed up economic activity. Paul expects banks to lobby and authorities to crack down

"I suppose they could just try to crush Bitcoin, but that's the wrong way to do it," Kimball said. "Governments should be creating their own version of Bitcoin. They should be ashamed they haven't."

"In order for currencies to be 'exchangeable' they have to be backed by something," is the remarkably ironic initial comment from none other than debaser-of-the-entirely-fiat-dollar Alan Greenspan when asked about the "bubble in bitcoin," by Bloomberg TV's Trish Regan.

Unable to "identify the intrinsic" backing of Bitcoin (or see bubbles in equity, credit, real estate, or greater fools) Greenspan is, apparently, capable of identifying Bitcoin "as a bubble," because "there is no fundamental means of "repaying' it by any means that is universally accepted." The farcical double-speak continues as the Maestro does a great job of making Bitcoin (which Ron Paul earlier noted could be the "destroyer of the dollar") look even better than the readily-printed fiat we meddle with every day. "when we were on the gold standard, [currencies] had intrinisc value which made people willing to exchange their goods and services with no question." "Alternatively, when we went into "currencies", it was the "backing" of the issuer of the currencies... whose "great credit-standing meant his checks could circulate as money.""

So either its backed by real physical metal with intrinsic value -- or the promise of someone...(increasingly politicians of course) with good credit (or a big army)?" fiat currency

So coming soon the BuffettCoin or MuskCoin (oh wait reputation), or the GatesCoin?

The Debt Solution -- Bill Still

The economic problems are many and mounting, but the solution is surprisingly simple.






I am getting very suspicious of the "realism" of US debt. The willingness to keep raising the debt ceiling with no care in the world is odd, even for morons in DC. The Fed Reserve buys a lot of US debt which then uses these IOU's to fuel a wide assortment of monetary shenanigans. I am even suspicious of China's owning our debt - to the point that I wonder if backhanded deals through the Fed are creating a mirage that we owe China so much. In fact, I think this debt notion is just a tool to grab private property from US citizens. Don't get me wrong, future generations will pay to service this debt but I doubt the money is going to China or any other nation holding our debt. If shiploads of gold were going overseas, I'd believe in the debt, but that does not happen. What really is the meaning of national debt when your currency is floating and there are no obstacles to the printing press?

JP Morgan hates Bitcoin -- Bill Still reporting from Davos 2014

Escalating tensions between Japan & China. Branson loves Bitcoin, JP Morgan hates it






I hope! I see non compliance as a way with protesting the lawlessness of the corrupt fed govt!take back the states powers who were never supposed to be under fed laws, the fed govt was supposed to protect our civil liberties not take them from us.the system is broken we need to abolish this corrupt fed govt and start anew one with the constitution and the bill of rights restored as the law of the land not all these corrupt unconstitutional executive orders, restore Glass-steagall act and end the fed reserve would be a good start!

Nigel Farage blasts the new incoming president of the European Parliament -- Still Report

Nigel Farage blasts the new incoming president of the European Parliament -- Bill Still Report




Nigel Farage - Greece is Now a No Democracy Great speech, pity less than 1% of the British public will see it. Yet the TV channels will show endless crap being spouted by Lab/Con and the other non entities. Don't trust Cameron, remember Brown too promised a referendum, on Lisbon.. isn't it typical of politicians to say they are acting on behalf of the people although none of the people were asked their opinion.. Nigel Farage is amazing dosen t pull any punches and dare I say it finally a politician who we can believe in 

Bill Still : Support Ellen Brown for Treasurer

Still Report # 162 - Ellen Brown for Treasurer , Author/attorney Ellen Brown announces her candidacy for State Treasurer of California.

Bill Still Report : TPP + TAFTA = TPA

Still Report # 161 - TPP + TAFTA = TPA  As predicted, yesterday, Jan. 9, TPP arrived in Congress, but loaded with a big surprise.



United States Government is a corporation and that corporation appears to have succumbed to a hostile take over. and the only way to stop what I call fascism is to Out Law Corporations. back to being Owners and owners responsible their product and service. see the only fix is a Revolution. Vote for Ventura in PUBLIC and Be Proud to Be American Again ! 

Trans-Pacific Partnership as bad as The European Union ~ Bill Still

Still Report #158 - Trans-Pacific Partnership The Trans-Pacific Partnership will be as bad for America as the European Union was for the sovereignty in European countries.

Bill Still Reports on The Global Warming Hoax

Still Report #152 -- Arctic Ice

Remember Al Gore said that the Arctic Ice would be gone by 2013. Guess what?

Bill Still : 100 Years ago The Greatest Financial Deception in History was born

Still Report #151 - Seigniorage This night 100 years ago, the greatest deception in the history of the United States was perpetrated upon the American people -- the darkest day of the year -- Saturnalia -- the signing of the Federal Reserve legislation by President Woodrow Wilson.

Microsoft is next in The Crosshairs ~ Bill Still

Bill Still Report - Anti NSA Coalition? Microsoft is next in the crosshairs. What has its role been in the NSA domestic spying scandal?

Anti NSA Coalition? ~ Bill Still

So is anyone taking seriously the big Tech Giants' proclamation last week of an anti-NSA coalition?

Iceland Jails Bankers ~ Bill Still

Iceland's Special Prosecutor dished out jail sentences to 4 big Icelandic bankers.

Thorium Nukes ~ Bill Still Repot

There is a cheaper, safer way to produce unlimited amounts of nuke-based energy. The world could go to Thorium. It's clean, cheap and safe.

Bill Still ~ MIT Economist Bitcoin Prediction

As it turns out, an MIT economics professor predicted that the big banks and governments would attack Bitcoin two months ago.

Big Banks wage a War on Cryptos ~ Bill Still

Still Report #140 - War on Cryptos The entire crypto market came under attack. From whom? Probably big banks.

Bitcoin in China ~ Bill Still

Cryptos are going mainstream. China Telecom just announced a promotion payable in Bitcoins -- a first.

Bill Still Report : The Chinese have dominated the Crypto-Currency Market for the last week

Still Report #134 -- Quarks & China The Chinese have dominated the crypto-currency market for the last week. Despite not being listed on a Chinese exchange, Quarks have appreciated at an unprecedented pace.

Bill Still Report #127 -- JFK Grassy Knoll 1

Bill Still Report #127 -- JFK Grassy Knoll 1  : Was President Kennedy shot from the Grassy Knoll?

Bill Still Report - Feds Love Bitcoins

Bill Still Report - Feds Love Bitcoins  : Guess who BitCoins new friends are -- the Obama gang.

Bill Still Report : The Kennedy Assassination & The Black Umbrella Man

Bill Still Report : The Kennedy Assassination & The Black Umbrella Man . The most mysterious think about the Kennedy Assassination was the Black Umbrella Man and his friend, "The Cuban".