Crypto-currency or Kryptonite?

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Max Keiser, the host of RT's ‘Keiser Report,’ is a former stockbroker, the inventor of virtual specialist technology and co-founder of the Hollywood Stock Exchange.

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Published time: May 14, 2013 11:42

AFP Photo / George Frey

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News that Bitcoin had its first 70,000 transactions-in-a-day this week has Bitcoin bulls excited.

Since passing a $1 billion market capitalization a few weeks ago, the crypto-currency has burst into the mainstream media with a vengeance and has even garnered reactionary froth from conspiracy theorists who view this new money as the work of nefarious government agents. Yes, Bitcoin has gone ‘big time.’ By the way, I first started Bitcoin when they were $2 and I am sticking to my intermediate target of $300 (with an eventual price target of $100,000+).

What ‘pro-liberty’ detractors fail to understand is that Bitcoin is kryptonite to the unelected 'banksters' who consider themselves the Supermen that run our lives. You would think Bitcoin would be music to the ears of anti-government types. Unfortunately, most so-called Libertarians don’t have the intellectual chops to understand Bitcoin. Technology stopped evolving for them with the telephone and most see anything involving advanced mathematics as the work of the ‘state’ devil.

So, because Libertarians are basically asleep when it comes to Bitcoin, the 'banksters' continueunchallenged as they rig LIBOR, energy markets, CDS, gold, and silver without any chance of prosecution for laundering hundreds of billions for drug cartels, illegally foreclosing on millions of homes, buying influence in government, or outright election rigging.

To challenge the New World Order you need something like Bitcoin: the New World Disorder.

Bitcoin is decentralized. They are extremely rare. They are money, and can move money around the world outside of government interference. They can be anonymized. They are extremely portable and they are the currency that is forming the bedrock of whole new industries and companies created by people who - unlike the whining ‘anti-globalists’ - have a real shot at challenging the status quo in a way we haven’t seen since Gutenberg’s press.

Bitcoins are Kryptonite to the 'banksters'. Bitcoin destroys most of their profit margins and so destroys their ability to corrupt the economy. In other words, the Federal Reserve Bank is about to be ‘disintermediated’ by Bitcoin the same way BitTorrent revolutionized the music and movie industries. 

Wealth is about to be redefined and I encourage everyone to do yourself a favor and get yourself some Bitcoins.

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.