02
Dec

Bitcoin Reaches New High

Bitcoin Reaches New High as it tops $11,000 in Late November Rally.  2017 has been a crazy year for Bitcoin and other digital currencies as most all have seen large price gains.  As of this posting Bitcoin is well over Eleven Thousand as it sits currently at $11,768.90 and rising.  Bitcoin still has its naysayers, but it should be obvious to anyone by now that Bitcoin is not going away.

Bitcoin Reaches New High

Bitcoin Reaches New High

This really should be no surprise to anyone who knows how we got here.  The Federal Reserve has been running a scam for too long and people are finally starting to wise up to the scam.  Federal Reserve Notes (Fiat Dollars) have no value and are backed by nothing.  Anyone who doubts this can go to the Federal Reserve website and find where it says, “Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender; Federal Reserve notes are “backed” by all the goods and services in the economy.”

Yes, you read that correctly, those pieces of paper you call “money” that you carry in your wallet are backed by nothing.  So, it seems ironic that the Federal Reserve this week made the following statement about Bitcoin:

The “currency” or asset at the center of some of these systems is not backed by other secure assets, has no intrinsic value, is not the liability of a regulated banking institution, and in leading cases, is not the liability of any institution at all. Indeed, how to treat and define this new asset is complicated.

Oh, the irony here makes you go hmmm.

Bitcoin Reaches New High

 

 

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