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Overstock CEO Slams "Unethical" Krugman; Hopes "Bitcoin Destroys Central Banking"
Overstock CEO Patrick Byrne goes to town on Keynesian Crony Paul Krugman in this brief interview. Byrne blasts Krugman for everything from his "unethical" involvement in the Enron debacle to his present day view that "the market failed so we need more government; or freedom failed so we need more government." Noting that Krugman may have done "some great work before he went crazy," he rants against the Fed apologist for his "bitcoin is evil" comments adding that he hopes "Bitcoin can destroy central banking." Byrne pulls no punches in his attack on Krugman and his "Keynesian magic money tree theories," as he explains why the so-called 'economist' would be against a 'bounded currency'.
Well worth a few minutes... as Byrne covers everything from Krugman's craziness, Friedman's warnings, Russia-style central-planning, and Federal Reserve failures... quite astounding
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I like that he identified that the purpose of interest rates is to value time by pricing in the future presently. This guy gets Austrian Economics (Reality). I hope he speaks out more often and that his business thrives.
The fact that Overstock.com shares have been the target of mega-shortselling by various Wall St. goons shows that Mr. Byrne has been on their radar for quite some time. They know that he "knows". But what I love about him is he knows how to fight back and this Bitcoin move is a brilliant bit of strategy. His recognition of the opportunity shows he knows how to translate opposition into action
The move was superbly timed and works on so many levels. He not only stole a march on the rest of the big online retailers (Amazon), he's essentially forced them to choose between ceding market share to Overstock or getting onboard with BTC themselves. Their doing so hurts the banks, helps BTC, and will forever endear Byrne and Overstock.com to the hearts of cryto currency users the world over. Can you imagine where BTC goes after Jeff Bezos finally "gets it"?
Imo, BTC is here to stay and Byrne read the tea leaves like a champ. From now on I will do as much of my online shopping as possible with Overstock. We need to support those who are supporting us.
/tosses Arrestbobrubin a rifle... Good luck buddy, now get over that hill...
Open public duking between the economic houses. That is definitely what we need more of
Bitcoin was created by TPTB.
You bitcoin boneheads have been totally fooled.
If you say that enough times it WILL become the truth , honest.
Can I buy a "I {heart} Krugman" t-shirt at OStock for this statist?
Krugpot was ALWAYS crazy.
I see an "Emergency Preparedness" section of Overstock.com. My wallet is out. May just buy a few frivolous items for the house while I'm at it as well.
OVERSTOCK is the WALMART of the INTERNET, another words its where the HAIRLIPS of the INTERNET shop.
So the owner of OVERSTOCK just go free advertising for his company that sell's shit that can't be sold in the retail world.
Then ZH picks up the story, ... BORING
***
We already know that anything SOLD in BTC is really SOLD in USD, as the BTC has to be converted to USD, that all these INTERNET sites are just 'fronts' and that suppliers must be PAID in CASH, so the FULLFILLMENT may take BTC at a premium, but CASH-USD is sent to the supplier who fulfill's delivery.
What the fuck does this fuck HAIRLIP bullshit have to do with the FED?
Not a fucking thing about anything.
The FED is going away, the US-MIL 'secret gubmint' has already agreed with CHINESE/RUSSIAN to go to IMF/SDR's and slowly KILL the USD, ... so the FED is already toast the fix is in.
The job of YELLEN/HILLARY is to slowly teach the hairlips that IMF/SDR is good, because the FED was BAD.
All will still be controlled by US-MIL, HOPE & CHANGE my ass.
Satoshi, how have you come to know so much? I am not being sarcastic. What have you done, where have you been, what have you seen? Blow our minds please...
Or can I get the top theories as to Satoshi's line or former line of work? Ex-CIA?
Maybe he was responsible for this.
http://cryptome.org/ukpk-alt.htm
Probably younger that that guy.
This idiot is not the real Satoshi - Whoever Satoshi101 is is just a fucking prick asshole. This Satoshi101 guy spends some of his spare time getting fucked up the ass by Zenofrog's clitoris , and when she has not taken enough hormone pills to get it up then he just dreams up bullshit about bitcoin .... You can read his stories here :
Somewhere, in a dark parent's basement...fonestar is wanking away to this article...
I like money I can hold in my hand.
Having said that, it woudl be nice to see Krugman sitting in one of those circus chairs over a tank of water with people throwing softballs to make the chair fall into the water
Bitcoin is deff better than central Fiat.
You can send bitcoins anywhere in the world for almost no cost.
While if you had 1000$ in a bank over-seas it would cost you anywhere from 7~13% to move that money around.
Central banking can't really compete on the level of cost-effective transfers that bitcoin type coins offer.
I still prefer precious metals over digits, but bitcoin gets the job done................... what other currency lets you send money anywhere in the world instantly for free?
Another good thing about bitcoin is, even if someone takes you to court, they can't force you to pay them in bitcoins if you don't want to because you can simply refuse.
The theft prevention features of bitcoin makes it so that governments would have to torture you in some kind of dungeon for months in - order to levy a tax upon you.
A currency a government can't steal? how many times has that happened in history?