Business 4 February 2019

Erik Gibbs

Max Keiser gets blunt on JPMorgan crypto report

Earlier this year, Max Keiser, host of the Keiser Report and well-known broadcaster, asserted that a new world reserve currency is coming, and that it will be cryptocurrency. Now, the crypto proponent has responded to a recent report by JPMorgan that seems to show that the financial giant doesn’t understand digital currencies. Keiser isn’t afraid to tell it like it is and offers some fairly direct hits to JPMorgan’s gut. 

In a YouTube video that includes his wife, Stacy Herbert, Keiser points out that JPMorgan’s report tries to argue that cryptocurrencies could only have value if introduced in a “dystopian economy.” He finds the statement ironic, in that JPMorgan is largely responsible for what is currently a dystopian society. He states, “The value of Bitcoin today reflects the level of ‘dystopianism’ that we are currently experiencing… JPMorgan and other banks are rogue banks that are committing massive fraud and they’ve got the central banks on behalf of us, the taxpayers, to print lots of fiat money to bail them out even though it means that the overall wellbeing of society is being destroyed.”

Keiser goes on to assert that JPMorgan is a direct beneficiary of fraud, emphasizing that the company’s CEO, Jamie Dimon, has been able to have his net worth boosted to more than $1 billion by “nickel and diming people to death.”

Taking a dig at another report, one published by the World Gold Council (WGC) and which stated that crypto is no substitute for gold, Keiser knocks down the assertion, stating, “To really get Satoshi’s vision, it’s peer-to-peer gold… that’s what Bitcoin accomplishes, that’s what Bitcoin is, fight me on this, go ahead, but you’re wrong.”

Keiser may be outspoken; he may be controversial. However, history is full of examples of outspoken and controversial individuals who were shunned by “the powers.” It’s no surprise that entities such as JPMorgan and the WGC – organizations whose livelihood depends on the financial status quo not changing – would continue to try and marginalize the importance of digital currencies. However, just as was the case with the past historical examples, crypto proponents will be shown to be correct as the world moves forward.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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