Thursday, September 14, 2017

Is Bitcoin a Fraud?


Is bitcoin a fraud? Jamie Dimon, CEO of JP Morgan Bank thinks so. That’s what he called bitcoin at a bankster meeting yesterday. Funny, if anyone should know fraud when they see it, it is Mr. Dimon.

Mr. Dimon’s bank deals in possibly the biggest fraud paper ever known - Federal Reserve Notes. Let’s compare federal reserve notes with bitcoin.

Federal reserve notes are printed at the whim of the Federal Reserve Bank. Of course, the Federal Reserve Bank is neither ‘federal’ nor a ‘reserve’ nor a ‘bank’. They are a banker cartel that robs money in the form of debt, interest and inflation from uninformed citizens, drains economic power from sovereign states, and disburses loans and cash (bailouts) to their bankster partners. The federal reserve notes they print are used as currency. This is the paper printed at the whim of the Federal Reserve Bank with infinite powers of unlimited printing. There is nothing behind the paper. Nothing. And, due to the Fed’s ceaseless printing, the currency continues to lose purchasing power due to the accompanying inflation. Mr. Dimon likes this form of currency.

Bitcoin is a concept and does not actually exist. Well, only in cyber-space. Bitcoin is known as a ‘cryptocurrency’ because it can be used a medium of exchange. That is, at least for now. I’m sure that most banksters would like to see any competition for their central bankster money outlawed. Yes, that includes gold and silver if defined as money.

Bitcoin can be purchased, or exchanged, for any other currency including US dollars. Bitcoin has several advantages over central bank currency.

One, bitcoin is not issued by central banks and its value is not directly controlled by those banks. Traded via the Internet, Bitcoin prices move with buyers and sellers.

Two, bitcoin is meant to be, and is theoretically, finite in supply. Therefore, its intrinsic value cannot be deflated due to constant supply increases.

Thus, we have common sense reasons to buy bitcoin. Even if we don’t view it as currency, it can be like anything that is finite in supply - a collector’s asset. Therefore, bitcoin will have a value and that value will be set by a market of buyers and sellers. What an incredible concept this is!!

So, can we answer our question, ‘Is bitcoin a fraud’? Mr. Dimon thinks so. He also went on to say that he would fire any of his traders if he caught them dabbling in bitcoin for being stupid. Keep in mind that JP Morgan was bankrupt ten years ago and only exists today due to the biggest fraud ever perpetrated - the Federal Reserve Bank coup de etat of the US and the subsequent bank bailouts of 2008.

In my opinion, nothing could be more fraudulent than federal reserve notes. Not even bitcoin. I don’t think Mr. Dimon should even go there.

But for fairness, let’s go to the charts. Charts tell us what people actually do with their money. Below is a one-year chart of JP Morgan Bank in red and a bitcoin ETF (GBTC) in black. The GBTC seems to track the value of bitcoin pretty well.

                                                                    1-year JPM in red, GBTC in black
                                                                    Chart courtesy

Yes, the red line shows us that JP Morgan stock price has appreciated some 40% in the last year. Great, Mr. Dimon! But had your traders been, well…, stupid and put money in the GBTC (bitcoin), their trade would so far have appreciated some 520%. Now, I’m not a smart bankster like Mr. Dimon but the black line is still beating the red line by a lot! Maybe Mr. Dimon is just a bit jealous?

The steep drop in GBTC leaving it only up 520% in the last year is likely due to one, the Chinese attempting to limit bitcoin trading in China and two, Mr. Dimon himself calling bitcoin a ‘fraud’.

Where will bitcoin go from here? It’s really anybody’s guess as banksters bad-mouth bitcoin and central banksters conspire to constipate bitcoin trading exchanges. But, like anything finite in supply, it will likely retain some kind of value.

On the other hand, the paper that Mr. Dimon likes and peddles will undoubtedly continue to lose value over time as long as there is a central bank creating supply out of thin air.

The bottom line is this. Whether or not bitcoin is fraud matters not. Our global economy is based on fraud. Fraud is all we have. So go with it!

Disclaimer: The views discussed in this article are solely the opinion of the writer and have been presented for educational purposes. They are not meant to serve as individual investment advice and should not be taken as such. This is not a solicitation to buy or sell anything. Readers should consult their registered financial representative to determine the suitability of any investment strategies undertaken or implemented. BMF Investments, Inc. assumes no liability nor credit for any actions taken based on this article.

Friday, September 1, 2017

Signs Of Terminal Stupidity


Simply witnessing american behavior over recent months, one must ask a simple question. How did americans become so stupid? Then, can america survive what appears to be terminal stupidity?

Most US education is a waste of time. However, I do remember my sixth grade math teacher, Ms. Duke. Every single day of school, there were math problems neatly chalked on every blackboard. Students were required to immediately begin solving these problems. We had to work fast because Ms. Duke would begin erasing the problems so she could add more to our work. Over, and over, and over we solved basic math problems. But Ms. Duke was not satisfied if we could correctly solve a math problem. No. We had to show our work and then prove that our answer was correct. How? By confirming our work with a calculator? Please! Calculators weren’t even invented when I was in school. We had to use our brains and not just our fingers by using inverse operations. Addition could be proven by using its inverse of subtraction and multiplication could be proven by using its inverse of division. With Ms. Duke, an answer was not sufficient. We had to prove our answer was correct by using an opposite operation. Thank you, Ms. Duke!

A few years later, I encountered the best teacher I ever had - Ms. Tyson. One subject Ms. Tyson introduced to us was the process of a debate. Again, as in math, there is a pro-side and a con-side. A postulation, either pro or con, had to be weighed against its opposite. This is logic. This is how we decide what is right and what is wrong. We listen to both sides. We listen to dissenting views.

Both Ms. Duke and Ms. Tyson had one thing in common. Neither teacher put up with any excuse. We came to class on time, we shut our mouths, we went straight to work. Neither teacher cared whether or not we all failed or excelled. The grade we received was the grade we earned. Neither teacher cared for excuses as to why we lost our pencil or why we forgot our book or why we were late from our latest sex change operation. 

As I took my knowledge and perspective to college, some of my friends and I would debate the issue of Albert Einstein being the smartest man to ever live. Indeed his intellect was nothing short of extraordinary. But, if we could point to Albert Einstein as the smartest man ever, then someone had to be the stupidest man, or woman, ever! Who could that be?

We are all witness to the current events in america. Personally, I really get a kick out of the so-called ‘antifa’ people. The, well, for lack of any words to describe them, the ‘media’ describe the antifa people as ‘peaceful’ protestors exercising their rights. Of course, we can all see the video of the antifa people peacefully swinging their peaceful baseball bats in peaceful Babe Ruth like swings at other people and cars. We can see them peacefully lighting other people on fire or peacefully igniting home-made flame throwers toward other people. The antifa people carry signs with words like ‘Fascists’ and ‘Nazis’ and ‘KKK’ but they clearly don’t understand what those words mean. Finally, a week or so ago the cops in Berkeley (Yeah, I know - I’ll give readers a chance to stop laughing. Every time I see or hear ‘Berkeley’ I start laughing at the idiocy that goes on there.) arrested about a dozen of the antifa people and posted their photos. All I can say is ‘thank you’. I saw the photos. I laughed and I laughed. I laughed until tears were streaming down my cheeks. We have found them! I felt the need to call my college buddies. We have found the single most stupid humans ever to knuckle-drag across the Earth’s surface. So we must ask - how did any human become this stupid?

First, let me explain. There is a good reason for antifa and I will reveal that at the end of this article. Second, the stupidity is these people chant slogans against ‘fascism’. However, what they are calling for IS fascism. They chant slogans about the ‘KKK’ and they want to destroy all monuments erected over time depicting images of men who represented the South in the Civil War period because they represent white supremacy and the KKK. I’ve lived in the South all my life and I have rarely ever seen any display of the KKK. Their representation is both minuscule in membership and diverse in geographic location.

As a short digression, I can report the only time I have ever witnessed a KKK assembly. When my son was young, I took him to a small town to a hobby store. As we arrived, the KKK were assembling across the street in full regalia. There was one police car. Everyone it seems went about their business. The KKK members gave a short speech, got back in their cars, and went home. As the late, great God-father of soul, James Brown once sang, ‘Static - don’t cause none, won’t be none’. Amen. It was a non-event. Yet, every american who understands what liberty means knows that even hateful people have a right to assemble and speak. This is one of the things that used to define america’s greatness.

Antifa people chant about ‘racism’ and ‘white supremacy’. Yet, because of them and spineless media types, a man named ‘Robert Lee’ was denied work a week ago as a college football broadcaster because his name was the same as the former Confederate General Robert E. Lee. Is this not the quintessential example of racism?

It seems to me that any person of even modest intellect would realize that the notion of racism does not really exist unless both parties accept it. Jesus commands us to love all of our neighbors and yes, even those who do not love us back. To accept racism is to validate the premise that one person is superior to another based on skin tone. For example, Dylan Roof killed nine worshippers inside a church in Charleston, South Carolina. The family members of those killed could have called for revenge for such a evil act perpetrated against their loved ones but they didn’t. They did not validate racism. Many of them actually publicly forgave Roof for his actions. Taking down flags and statues simply confirms, validates, and promotes the same racism. Rather, a better answer would be to erect a statue of those beautiful nine souls who are now no doubt resting in Heaven.

The notion of ‘white supremacy’ is the same. It only exists if this supremacy is bestowed. If one thinks of oneself as an equal, the actions of another person should not matter.

Antifa exists for a good reason. Yes, they are some of the stupidest humans on Earth and I’ll get to the reason for existence in a moment. But how did they get so stupid? How do humans in this modern era of information overload and accessibility get so stupid? 

Clearly the modern american education system is an abysmal failure from elementary school through college. We can start with all the anti-Trump people that did not know that america was a democratic republic governed by a president elected through an ‘electoral college’ system. Many decades ago when I attended public schools, we were taught these things in civics class. This was maybe fourth grade. Maybe civics has been replaced by ‘transgender sensitivity’ classes or ‘re-writing history’ classes to indoctrinate young minds to a thoughtless, mind-controlled, completely void of all logic state of existence. Sadly, we see a lot of teachers publish statements that seem illogical in that they contradict their heart-felt beliefs.

Witness the following. 

Did you read about the Trinity College professor Johnny Eric Williams? A redumblican congress-titute was shot at softball practice by a dumbocrat supporter. Several other people were wounded as well. Professor Williams tweeted that we should let these people die without giving them medical attention. Aren’t the people like Professor Williams supporters of free health care for everyone? Well, only in their illogical, irrational rhetoric they say one thing and mean another. Clearly they don’t really support medical care for all. Stupid can’t even be measured in this thought process. What moron would waste money taking a class taught by someone so mixed up in their own logic? However, suffice to say that anyone wasting money at Trinity College attending a single class or lecture from someone with completely incoherent thoughts like Professor Williams might just enjoy being stupid. Aren’t people like this espousing rhetoric like inclusiveness and tolerance and acceptance of differences? God created all of us but He must be shaking His head in disbelief and disgust right about now.

Danielle Fuentes Morgan, assistant professor at Santa Clara University, recently penned an article titled, “Stop telling me to get over slavery...when you can't get over monuments to slavers”. She begins by opining that all statues of southern men should be removed from current locales. Concerning Robert E. Lee, Ms. Morgan paints him as “everyone’s favorite separatist”. Actually General Lee served in the US army before his home states secession. Concerning a monument in Durham, NC dedicated to simply to the ‘men who wore grey’, Ms. Morgan writes, “I am thinking today of the bravery of Takiyah Thompson, the young woman who was arrested in Durham for her role in bringing down the Confederate monument.”
Ms. Morgan says she can’t get over slavery because she is always reminded by a ‘white-supremacist’ nation of her ‘second class citizenship’.  This seems a bit weak coming from a person who has no doubt worked hard to become an assistant professor at a well respected college institution. How has the institution of slavery which was long ago made illegal held her back?

Then there is Iowa. University of Iowa Assistant Professor Linley wants to expose students to their ‘whiteness’ and privilege. I won’t even get into that stupidity but shouldn’t university professors be teaching something useful to their students? How about teaching them that the Federal Reserve Bank is a mechanism for the elite to destroy america? How about teaching students that Andrew Jackson, the greatest leader in world history, exterminated the central bank in his presidency which led to the greatest period of economic growth and prosperity ever witnessed on the Earth? When President Jackson exterminated the central bank, he wrote that a central bank would be used by the elite to unfairly manipulate the economy so that the rich get much richer and the poor get poorer. And what has happened, Professor Dopey?

Then there was another Iowa professor that proclaims that sculptors that used white marble did so because they were racist and therefore promoted ‘white supremacy’. Could there possibly be a bigger waste of money than taking classes under idiots like this? How did humans get this stupid?

The stupidity gets worse. At Federal Reserve Chair Yellen’s congress-titute testimony a few months ago, Congress-titute Elizabeth Warren put her cognitive skills on display. Instead of asking anything of real meaning, Ms. Warren attempted to coerce Ms. Yellen into agreeing that the Dodd-Frank act was a real benefit for the average american. Ms. Warren, of course, is a big believer in big government and an avid supporter of Dodd-Frank. Let’s see…

Dodd-Frank is 5,000 pages of banking and financial regulation that is supposed to make the system fairer and more secure. Really? I would like to ask Ms. Warren a few questions.

Are banks now bigger or smaller than pre-Dodd-Frank?

Answer: Bigger.

Are derivatives, the instruments that crashed the system last decade, more pervasive now or less?

Answer: Just as pervasive and just as potentially cataclysmic.

Are banks safer now?

Answer: No.

Did the average american benefit from Dodd-Frank?

Answer: No. Given that banks now steal depositors’ money through fees and charges for everything from ‘inactivity’ to ‘not meeting minimal deposit requirements’ to charging 20% on credit card balances, it would seem that banks have even more of an advantage. Let’s not even consider the fraudulent institution of Wells Fargo.

Then there was Congress-titute Schatz from Hawaii. Holy cow! All he did with his time was grill Ms. Yellen on ‘climate change’. After a question on climate change, Ms. Yellen paused for a moment and then informed Mr. Schatz that she was a banker and not a meteorologist. Yet he continued. Ms. Yellen paused and paused and looked at the congress-titute as if she were thinking, ‘Is he drunk?’ I was thinking the same thing.

Just a note on ‘climate change’. Since Al Gore ‘invented’ global warming, the Earth has been, statistically, cooling. In addition, volcanic activity underneath Antarctica has been discovered to be a culprit in melting Antarctic ice shelves and not global warming. By my own thinking as well, we should consider the effects of atmospheric engineering on melting ice. Governments around the world have been using heavy metal spraying of the atmosphere in a attempt to cool down temperatures. Metals are, I believe, basically salts. Salts are used in cold climates to reduce ice formation on streets. Maybe they are now speeding the melting ice shelves in the Antarctic. Let’s move on.

When the subject of stupidity arises, we must mention the institution of the University of California, Berkeley. A U. Cal Berkeley study claimed that increased minimum wage levels did not hurt jobs or wages. A Washington Post study just out said the opposite and what we all know as fact and truth. Artificially raising minimum wages kills jobs. The Post study even reported that minimum wage earners actually made less money because their employers cut their hours. Now, if readers are like me, they just start laughing when they see University of California at Berkeley. Exemplified by student and faculty behavior over the past few years, this is an institution of morons and idiots. Thus, I think it would be fair to say we could simply dismiss anything whatsoever or anyone whatsoever that comes from this institution of mind pollution. We all know the truth. To further the trench of stupidity, Seattle’s mayor conspired with U. Cal, uh, ‘researchers’, to produce a study on the subject that they all knew was bogus so the Seattle mayor could push through his belief that higher government dictated minimum wages was a good thing. The truth is thus. The Federal Reserve Bank purposely instigates inflation through unfettered money printing which destroys the currency value. Until another Andrew Jackson comes along and destroys the Fed, raising wages without commensurate productivity is pointless. 

Merck CEO Kenneth Frazier resigned from President Trump’s American Manufacturing Council due to his perception that President Trump did not denounce white supremacists in strong enough language following the race riot in Charlottesville, Virginia on August 12, 2017. Mr. Frazier said it was a matter of ’personal conscience’. Everybody these days is such a crusader of morals. Strange though, that Mr. Frazier’s conscience is not bothered by Merck’s $350 a month price tag of their leading seller, Januvia. Januvia is insulin for diabetics. Of course there are cheaper alternatives but that fact prompted Merck to send a letter to CVS Pharmacy imploring them to convince doctors to prescribe Januvia over the cheaper alternatives. Since Mr. Frazier’s ‘personal conscience’ is so offended, why isn’t he offended at the primary cause of diabetes - sugar? Why doesn’t he crusade against soda makers and food companies for putting so much sugar in the american diet? The reason is simple. Diabetes and other diseases are good for Merck as Mr. Frazier earns in excess of $25 million per year peddling dope to mostly poor people and people of color. Where is his ‘personal conscience’? Why is Mr. Frazier’s ‘personal conscience’ not bothered by the fact that Merck, and other big pharma companies, manufacture much of their dope in India - a country with an estimated 15 million slaves?

As Einstein once postulated, stupidity knows no limitation. James Damore was fired from Google for writing an article opining that men were better at technology than women. He says he does not support the ‘alt-right’. Mr. Damore does not understand that the ‘alt-right’ is what gave him the freedom to express his opinion. Obviously the other side would not allow him to express an opinion counter to their belief. Mr. Damore should learn to appreciate freedom while he, and the rest of us, still have a shred of it.

So why are extremists and college professors so adamant about eliminating free speech? As in Ms. Duke’s math class, postulations and debates can be affirmed by using opposite functions. If antifa, college professors, or anyone shouting down any person or group with a view point of disagreement should know, the validity of any idea must be measured against its opposite. If one believes the government should be socialist or communist, they should be the first to embrace a debate from the opposite view point. If one believes the government should be capitalistic, they too should be the first to embrace a debate from the opposite view. Simply shutting down the other side is one, an elitist attitude that one’s own views are correct and two, illogical, stupid, and fraught with fear that one could be in fact wrong. Free people should never fear real debate. We should all show our work and prove its validity through inverse consideration. Math always works.

Let’s get a definition from the online dictionary.

Fascism - a governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism and often racism.

Isn’t the antifa movement the definition of fascism?

Oh, and the real reason for antifa in the first place? George Soros is short stocks. He only cares about his portfolio. Rip apart america, take down stocks, book profits from shorting. The idiots yelling and screaming in the streets? Merely profoundly, profanely, ignorant pawns hired to do the work of a multi-billionaire capitalist. 

Now, looking at the faces of antifa members we must ask, can america survive terminal stupidity?

Disclaimer: The views discussed in this article are solely the opinion of the writer and have been presented for educational purposes. They are not meant to serve as individual investment advice and should not be taken as such. This is not a solicitation to buy or sell anything. Readers should consult their registered financial representative to determine the suitability of any investment strategies undertaken or implemented. BMF Investments, Inc. assumes no liability nor credit for any actions taken based on this article.