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Jamie Dimon Trashes Bitcoin as “Fraud” and “Bubble”

Jamie Dimon Bitcoin Fraud Bubble

The notorious Jamie Dimon is at it again.

He is the chairman, president and chief executive officer of JPMorgan Chase, largest of the Big Four American banks, and also served on the Board of Directors of the Federal Reserve Bank of New York.

He can add a new section to his title.

Chief Bitcoin FUDster. Hey, FUDster…. Bankster… they kind of go together.

This guy comes out again to trash Bitcoin and call it a fraud, that it’s basically a bubble and when it pops many people will get hurt, or even killed. He then blathers on about that he would fire any JP Morgan trader who was trading in Bitcoin because it is illegal and unregulated, or something like that.

Who in JP Morgan would be trading in Bitcoin if the company doesn’t support it as a tradeable asset class?

Does he mean if they are personally trading it with their own money while not at work? He can’t legally do that, I don’t think.

I saw another YouTuber who works down by Wall St in New York City and who knows many JP Morgan Chase traders who love Bitcoin and want it to succeed, so I think that Mr Dimon is out of the loop on this.

This is yet another big bankster showing how utterly scared he is of the blockchain future, which will probably overshadow fiat currencies like the Dollar, Pound, Yuan, Euro, etc.

This guy talks about Bitcoin “trading” being illegal yet his industry swindled the US taxpayer out of billions that the US politicians handed over to them so that they wouldn’t fail and take the economy with them. His industry has the US and world economy by the balls and then the politicians have no choice but to hand over tax money to them to avoid financial meltdown when they make bad business decisions, which they do ALL THE TIME. But yeah, Bitcoin and cryptocurrency is the enemy, right, Jamie Dimon? It doesn’t matter if YOUR bank wasn’t one of the ones that were going to fail. You represent the industry.

Another Internet respondent to one of thee articles said that he saw Jamie Dimon, and Blythe Masters, drunk the night before. Dimon was apparently drinking Scotch and he was all red nosed from overindulging on the liquor. It’s probably just Internet chat talk meant to be funny and not taken as a real sighting, but hey, who knows? Maybe Bitcoin is driving Jamie Dimon to drink and become reckless?

I actually ran into Jamie last night at The Roadhouse Pub. He was with Blythe Masters and I hate to say it but they were both pretty inebriated. Considering how big and red his nose was, I don’t think we should take his bitcoin comments seriously. I’m guessing he has been so stressed about his dying legacy system that he has been drinking triples instead of his regular doubles. Last night it was Scotch from what I saw. Straight.

The one positive comment I’ll make about seeing those two is that Blythe’s legs looked as good as they ever did. That Blythe Masters is one foxy woman!!!

: )

I’m pretty sure that was a joke, especially since Blythe Masters, the woman who invented credit default swaps while she was with JP Morgan, is now with a blockchain startup.

Jamie Dimon must be unaware that JP Morgan Chase is a member of the Ethereum Alliance and is planning to put the Ethereum Smart Contracts’ blockchain to use.

ethereum alliance members

See the graphic above? I circled JP Morgan’s name .

The bottom line here is if they can’t control it, they hate it, and they have to spread as much FUD as possible, unless of course Jamie Dimon is really trying to lower the price of Bitcoin so he can buy it up himself and make a tidy profit.

His rhetoric, which the news organizations ran with the moment the trash talk left his lips, compounded on the worries over what China is doing around Bitcoin, which also might just be another round of Chinese FUD meant to lower the price so they can buy their share cheaply.

Or maybe Jamie Dimon and the Chinese are both worried for the same reason, they can’t control Bitcoin or blockchain.

Without control , they become animals of the same stripe.

Now, he DID say that is why governments won’t like it, and he cited the RUMORS that China is closing the Bitcoin exchanges. (no proof yet)

He says that unless you are in the Third World then you have no use for Bitcoin unless you are speculating on it. He obviously doesn’t get it because more and more acceptance of Bitcoin is happening.

Really, maybe a BILLIONAIRE has no use for it because he has all the DOLLARS he’ll EVER need. The guy is clearly living in a perfect world that few can even dream about. You can’t take this guy’s ideas seriously, because he’s so removed from “real life”.

So, don’t fret. THANK Jamie Dimon for the trash talk, because he just put cryptocurrencies on sale, or helped to do so.

Now we can all buy in cheaper and suck more assets out of the fiat currencies and into cryptocurrencies.

I wonder what he would say or if Jamie Dimon ever considered this, that he himself is just hastening the moment of reckoning for the fiat dinosaur currencies that he champions?

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