iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,675 Blog Posts

Powell Shit on the Bitcoin Party

I was going to pop champagne corks into the faces of my new southern neighbors. Now it appears I will be forced to gnaw off my arm limbs, in order to hold up my end of the bargain — which was to eat off my own arm on Instagram live if BTC didn’t break record highs this year.

During today’s testimony, Powell said Facebook’s planned crypto was a giant piece of shit and it was a threat.

In testimony to Congress, the Fed chair said Facebook’s proposal raised “serious concerns regarding privacy, money laundering, consumer protection and financial stability” that will need to be “thoroughly and publicly addressed” before the social media giant could go forward with the project.

Powell added that it is not the central bank’s intention to discourage financial innovation. “We just want it to take place in a safe and sound way,” he said.

Bottom line: BTC is down more than 10% for the day and the crypto-fags are getting BOGGED the fuck out. What are we gonna do!!!!?

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9 comments

  1. trumpmeister

    Great opportunity to buy more for cheap. LOL

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  2. Dr. Fly

    AGREED

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  3. it is showtime

    1. Lol: coincidence that Acosta became Trump’s “head of bls”? Clearly he was paid off regarding Epstein. Amazing that news panels today couldn’t say it.

    so – a deal that job numbers will be sweet as fuck? if you put in our coverup guy?

    lol – way too coincidental that the guy that buried Clinton’s underage sex ring becomes the 2nd most generally important econ position.

    Game is afoot. Because Epstein is at the tip of being properly mainstream-reported. I wish death to all of them but they will take down this society in their own immolation.

    2. So clear why they didn’t want Bernie in 16. He would flatten wall st.
    Rightfully.
    He’s correct.
    Trumpers For Bernie.

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  4. omfgitsjd

    A lot of profit taking, blowing through stops, inspiring shorts, but hit major resistance and bounced off 11,200.

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  5. WrongView

    Back up the truck and buy MOAR!

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  6. notdeadyet

    https://www.youtube.com/watch?v=Fn310KaOxnU

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  7. roguewave

    1 out of 4. That’s way better than (then)[sic] normal for accuracy of Fed predictions.

    Facebook’s proposal raised “serious concerns regarding

    1) privacy (since when did they give 2.5 fiddley fucks about privacy)
    2) money laundering (make that 2 of 4) $ laundering is not giving them a cut of the action)
    3) consumer protection – wtf, where I ask is the kyc & consumer protection for state lotto “consumers”?
    4) and financial stability – bingo – they should be very worried

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  8. roguewave

    The Trump Tweet Ep: Marty, Matt and Murad Mahmudov
    https://tftc.io/tales-from-the-crypt/

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