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Europe Cracks Down On Bitcoin, Virtual Currencies To "Curb Terrorism Funding"
In the past we have explained why when it comes to circumventing capital controls, primarily in the context of China, there are few as simple and as efficient alternatives to Bitcoin - contrary to what Bernanke may think, gold is concentrated money (and in India it now pays interest) but when it comes to transferring it across borders, it tends to be rather problematic. And now Europe appears to have figured this out, and as Reuters reports, European Union countries are preparing to crackdown on virtual currencies such as bitcoin, and anonymous payments made online and via pre-paid cards "in a bid to tackle terrorism financing after the Paris attacks, acording to a draft document."
Just a week after the Paris terrorist attack, showing a dramatic ability for coordinated work by a continent that is known for anything but, today EU interior and justice ministers are gathering in Brussels for a crisis meeting called after the Paris carnage of last weekend. This happens days after the European Commission already announced it would make procurement of weapons across Europe virtually impossible, if only for citizens who wish to obtain protection legally.
According to Reuters, the justice minister will urge the European Commission, the EU executive arm, to propose measures to "strengthen controls of non-banking payment methods such as electronic/anonymous payments and virtual currencies and transfers of gold, precious metals, by pre-paid cards," draft conclusions of the meeting said.
Conveniently, Reuters reminds us that "Bitcoin is the most common virtual currency and is used as a vehicle for moving money around the world quickly and anonymously via the web without the need for third-party verification. Electronic anonymous payments can be made also with pre-paid debit cards purchased in stores as gift cards."
But no more: "EU ministers also plan "to curb more effectively the illicit trade in cultural goods," the draft document said."
And with all of Europe sliding ever deeper into negative rates, and where a ban on cash bank notes is an all too realistic possibility, the easiest mechanism to evade the ECB's creeping financial oppression is about to be made illegal.
Finally, there was no word about the true source of terrorism funding: those mysterious "third parties" which keep pumping the Islamic State with hundreds of millions in cash in exchange for its crude oil. Perhaps Europe is so unwilling to dig down into this most important question (which as we said last night nobody is willing to ask) because it either already knows the answer, or realizes that the people implicated just may be some of the wealthiest and most respected Europeans, and the resulting stench could spread all the way to the various unelected politicians and ex-Goldmanite central bankers?
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How about cracking down on Quatari ana Saudi Private Jets loaded with USD?
"How about cracking down on Quatari ana Saudi Private Jets loaded with USD?"
I agree.
Shall we use an S-400 to crack down?
I mentioned Bitcoin at the office today.
The ‘experts’ are coming out of the woodwork.
One ‘expert’ told me Einstein invented Bitcoin. I mentioned the blockchain, they went off on a tangent describing a member of their family had a Bitcoin wallet broken into and the thieves were slowly withdrawing Bitcoins…. The FBI was called and the victim did get their Bitcoins back…
Then I mentioned the Silk Road….
We’re surrounded by retards.
Be gentle with your colleagues because even I have not fully understood the working details of the blockchain which underlies Bitcoin. I'm sure I'm not alone.
Thanks to ZH, I used to think that "Gold is money". Which is why I bought a bunch of it.
I've now come to realize that it is actually a "Precious Commodity", that has been used as money, and is subject to manipulation and wild price swings - like any commodity.
Expensive art, jewels, vintage cars, vintage wine, and select real estate are also Precious Assets, which are just as easy/difficult to confiscate, but of greater utility to the owner. History has shown us that some art (art stolen by Nazis) had not only appreciated a lot, but often has made its way back to its lawful owners. When AU is taken, it's gone for good.
Thus my meme: "Diversify!", and don't get hoodwinked into over-allocating in any one asset. The world is full of idiots, liars and shills.
As to crypto-currencies... I view them as a useful Medium of Exchange in a Parallel Economy, that can also be used for speculation.
Sadly, instead of blaming ZH for your dim view on PM's, you need to look outside your USD box. Gold has done very well against many other fiat currencies recently as a "store of value". I would give you examples but it sounds like you don't care. Fair enough, I understand your frustrations all too well. I will make one point on RE. It is almost impossible to unload quickly and especially in a bear market. Gold, silver, not so. You could walk down to your LCS today and get fiat immediately.
lmao
good luck with the "banning", bitcoin is decentralized
banning worked so "well" with bittorrent haha
these flat-earthers always crack me up
Hilarious! So these retards we call the EU have decided to close their borders now after their staged false flag hoax event and blame it on Bitcoin. Listen you mental midgets, you are Done! Finito! Finished! Caput! Your economies are crumbling or have crumbled and your plans have all failed. The Chinese simply love Bitcoin and now account for 80% of all Bitcoin trades. The entire EU accounts for only 1%. Now crawl into a corner and die please. I think I'll go watch some more free content on Stremio powered by its bittorrent backend while I arb my cryptos and dream of decentralized exchanges. Morons!
#1 bitcoin CNY ( 82.66 %)
#2 bitcoin USD ( 15.09 %)
#3 bitcoin EUR ( 1.37 %)
http://www.worldcoinindex.com/volume
http://www.strem.io/
The EU's dedication to an elitist anti-populist approach is a fatal flaw.
Without a reconsideration, there will be no EU within 10 years.
The US has, compratively recently, begun to share this flaw. But increasing popular rejection of this structure of control yields a more promising prognosis.