{"id":25620,"date":"2017-09-14T06:37:13","date_gmt":"2017-09-14T11:37:13","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25620"},"modified":"2017-09-14T06:37:13","modified_gmt":"2017-09-14T11:37:13","slug":"which-is-fraudulent-bitcoin-or-jp-morgan","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25620","title":{"rendered":"Which is Fraudulent \u2013 Bitcoin or JP Morgan?"},"content":{"rendered":"
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Which is Fraudulent \u2013 Bitcoin or JP Morgan?<\/a><\/h3>\n
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I\u2019m really grateful JP Morgan CEO Jamie Dimon decided to once again lash out in anger at Bitcoin, as it provides us with ample opportunity to highlight a practice very near and dear to how the bank operates. Fraud.<\/p>\n

The way the news cycle works, any topic that isn\u2019t already at the forefront of enough people\u2019s minds will be largely ignored irrespective of its importance. The fact that Jamie Dimon ironically called Bitcoin a fraud, allows us to ask highlight some very important facts about the seemingly systemic fraud inherent in America\u2019s largest bank, JP Morgan.<\/p>\n

First, let\u2019s take a quick look at some of what Mr. Dimon said. Courtesy of the financial plutocrat network,\u00a0CNBC<\/em><\/a>:<\/p>\n

Jamie Dimon has not changed his mind about bitcoin.<\/em><\/p>\n

Mr. Dimon, the long-time CEO at J.P. Morgan Chase, continued his well-documented criticism of the digital currency bitcoin. Speaking at the Barclays financial services conference on Tuesday, Mr. Dimon was asked whether his bank had a trader who traded bitcoin.<\/em><\/p>\n

His response? \u201cIf we had a trader who traded bitcoin, I\u2019d fire them in a second,\u201d he said. \u201cIt\u2019s against our rules\u201d and any trader that deals in them is \u201cstupid.\u201d<\/em><\/p>\n

Ultimately though, Mr. Dimon said that he thinks Bitcoin is \u201ca fraud\u201d and it \u201cwill eventually blow up.\u201d<\/strong> He referenced approvingly the comments of another titan of the traditional markets, Howard Marks, who recently called bitcoin \u201can unfounded fad.\u201d<\/em><\/p><\/blockquote>\n

Of course he hasn\u2019t changed his mind about Bitcoin, and he never will. As he himself noted back in 2014<\/a>.<\/p>\n

It\u2019s not the first time Dimon has issued a warning about Silicon Valley businesses.<\/em><\/p>\n

\u201cThey all want to eat our lunch,\u201d<\/strong> he told investors<\/a> a year ago. \u201cEvery single one of them is going to try.\u201d<\/em><\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Which is Fraudulent \u2013 Bitcoin or JP Morgan? I\u2019m really grateful JP Morgan CEO Jamie Dimon decided to once again lash out in anger at Bitcoin, as it provides us with ample opportunity to highlight a practice very near and dear to how the bank operates. Fraud. The way the news cycle works, any topic […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[4174,950,4714,2267,4285,6174],"class_list":["post-25620","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bitcoin","tag-fraud","tag-jamie-dimon","tag-jp-morgan","tag-liberty-blitzkrieg","tag-michael-krieger"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25620"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25620\/revisions"}],"predecessor-version":[{"id":25621,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25620\/revisions\/25621"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}