Bitcoin Tumbles After China Central Bank Bans Financial Companies From Using Digital Currency

As we said back in March, when Bitcoin’s parabolic rise first started, it was only a matter of time before first one, then all central banks take on Bitcoin for the simple fact that it present too great a threat to the fiat system. Sure enough, on the chart below of BTC China it is quite clear just at what point overnight the People’s Bank of China announced that Bitcoin is simply a virtual commodity and “isn’t a currency with any real meaning” (paraphrasing Alan Greenspan), and that it officially bans financial companies from Bitcoin transactions.

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Of course the banksters are running scared. Bitcoin has the same intrinsic value as their fiat funny monies – zero – but the difference is, they don’t control Bitcoin.

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Pointing my finger on the brighter spots. We win, and winning is fun.

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