Video: U.S. Senator Wants To Ban Bitcoin? Hypocrisy?

By: Ben Swann
25

Senator Joe Manchin announced last week that he wants to ban Bitcoin because it is “dangerous for our economy”. Apparently Sen Manchin, who sits on the Senate Banking Committee is unaware that every fear he has about Bitcoin already exists through Wall Street and the U.S. Dollar. Ben explains in this Truth In Media Moment Video.


 

 


  • SickOfTheStupid

    what our government can not control it seeks to destroy…………

    • abccd

      Bitcoin is NSA creation. See my other post if it ever appears.

      • http://www.masterdevcenter.com/ Dan Beaulieu

        I’m sure Edward Snowden would have something to say about it if it were, don’t believe everything you hear man.

        • http://jana-murray.com/ JanaMurray

          Dan, dig a bit deeper before you tell others not to “believe everything you hear..” Bitcoin has paved the way for a global cashless society, without a doubt. A 1996 NSA report surfaced, ‘predicting’ a crypto-cyber unit eerily close to Bitcoin. This particular NSA report on crypto-cyber currencies looks more like a design than a prediction… http://realcurrencies.wordpress.com/2013/06/21/is-the-national-security-agency-behind-bitcoin/

          • http://www.masterdevcenter.com/ Dan Beaulieu

            JanaMurray, and you need to learn how to QUALIFY your conspiracy theories before you mark them as true. When you use language like “eerily close to” and “looks more like” while your claiming something to be factual your doing the entire truth movement a dis-service. Where are the facts? I’ll tell you two facts right now.

            1. The mainstream media is attacking bitcoin. Nearly everything, the government-run mainstream media attacks is targeted because they want control over it.

            2. Edward Snowden didn’t give up his entire life just to let a gigantic thing like bitcoin being created by the NSA get swept under the rug.

            As far as your “dig a bit deeper” comment. All I have to say is LOL, I am as conspiracy theory minded as you get, I dig on anything that has merit. Sandy Hook, PNAC, 9/11, Eugenics and yes even one-world global currency. The difference between you and I is that I QUALIFY my theories before I spew out disinformation to people online.

            But let me be clear here, I am not saying that the NSA didn’t have a hand in it, what I am saying is that there’s insufficient data to go around insisting its true. Prove your case.

  • Chaz

    The only way this dbag gets any votes is because of him brainwashing the elderly to get them to vote for him. I work as an election clerk and see this shit all the time with the elderly. Typical baby boomer mentality and I don’t blame them fully because they didn’t have the internet back then to give them information.

  • http://jana-murray.com/ JanaMurray

    Did we already forget about the Bitcoin Lovefest? The senate for the most part absolutely adore bitcoins! Bitcoins are not a Constitutional form of money. http://youtu.be/JsVa1nxJ_zw

    • http://FreedomOutpost.com/ Tim Brown

      Jana, exactly right. I honestly don’t understand the mindset that we want to go back to the Constitution (which requires gold and silver to be coined), but push for a fiat currency, like the one we have now (which liberty people denounce), that has no intrinsic value at all. I get the idea of capitalism behind it. I just don’t get the mixture of unconstitutional money with no real value.

      • http://jana-murray.com/ JanaMurray

        Tim Brown, exactly wrong. You have fallen into what the money power want you to believe, that the Constitution requires a gold standard. This is a misrepresentation of what the Constitution says. Until you really understand the history, words and the context of Thomas Jefferson’s letter to J.W. Eppes in 1813, we are doomed to repeat the same mistakes people have made, by ignoring those words, for the past 200 years. http://jana-murray.com/thomas-jefferson-on-paper-money-reset/

        • Nickel Titanium

          If not gold or silver, nitinol would make the best currency. Being a fairly rare physical commodity, it intrinsic value, and its authenticity is much more easily verifiable than any other I have heard of:

          It is bendable when cool, but run hot water over it and it snaps back into its original shape.

  • Early David Ehlinger

    self-awareness fail.

  • B OMeara

    As of right now the Feds are the 2nd largest holder of Bitcoin due to confiscations. This seems like a front to me. I am a fan of any competition when it comes to money but a currency that is not physical, every transactions can be eventually tracked ( which also means taxed ). The worst it can be hacked, frozen and if internet goes down or ends up being controlled by TPP. Lets not forget about electricity going out. So I believe the Elite are in love with Crypto-currencies ( more control more power)…

  • Antodav

    He makes a few good points here, but it still seems to me like Bitcoin is severely dangerous and unstable, as well as potentially a tool for scam artists. I wouldn’t invest any of my money in it. But the market should be allowed to decide whether Bitcoin fails or succeeds, not the government. The government after all is no less competent with financial management than MtGox was.

    Also yes, certain types of home loans that contributed to the 2008 financial collapse should be banned. Adjustable rate mortgages, for example.

    • Jan

      You hit the nail on the coffin. If Bitcoin is as volatile as people claim it is, let the market decide that. Government involvement will only make things even worse for investors. I am not here to defend Bitcoin, but Ben Swann is exactly right. Politicians are in no position to tell us what currency works and what doesn’t, when the very dollar we have now is completely inflated and verging on worthless.

    • ed

      I totally agree, on that factor.

      To me, and a lot of others, BTC is something fun to explore, but to NOT take seriously. Why? Because it IS ripe with fraud. I don’t know a lot of people who want to use something, where a potential scammer can steal my money, and there’s no way to get it back. There’s a few who will risk it, but as more people learn that if you get scammed, you’re SOL, then more people won’t want to loose hard earned money on something that volatile, other than maybe an alt to stocks…

  • ironchuck

    Tool.

  • Ammon Ammon

    Yeah, Tool, great band. Regarding the report, I’d like to see them ban it. The whole world is using it – so maybe the US can just drone bomb every IP that send and receives to the BTC blockchain!?

  • abccd

    This could be a psyop to make it seem like an anti-establishment currency or to hail in more regulation so that it doesn’t escape taxation. The NSA has its paws all over it Bitcoin cryptography that protects mining and your private keys:

    SHA-256 is NSA designed and the NSA does NOT release cryptography into the wild without a backdoor.

    SHA-256 and RIPEMD160 are hackable:

    https://blog.skullsecurity.org/2012/everything-you-need-to-know-about-hash-length-extension-attacks

    http://www.infowars.com/bitcoin-revolutionary-game-changer-or-trojan-horse/

    …and secpk1 which is not fully rigid, leaving room for an NSA backdoor.

    http://safecurves.cr.yp.to/rigid.html

    The NSA was exploring cryptocurrencies in 1996. Going from the dollar to bitcoin is like going from the frying pan to the fire.

    • abccd

      I think its best to put your money into things you need and can sell, and possibly foreign currencies but I haven’t explored that.

  • abccd

    comment not posting?

  • Faderal Regurge

    That which has no inherent value beyond its popularity is a fad. Federal reserve notes included.

    Bitcoin is no more dangerous than any other fiat money with no inherent value — unless you factor in the noxious side effect of people becoming accustomed to electronic purchases. They will be easily persuaded to give up their freedom by requesting permission (“authorization”) for every itty-bitty purchase they need to make. Have you started down that road? It’s the road to universal slavery.

    • http://jana-murray.com/ JanaMurray

      Congress has the exclusive power to ‘regulate the value’ of money, according to Article 1 Section 8. Bitcoins can be a lot of things, but cannot meet the Constitutional standard of money. Bitcoins can be a viable financial instrument, but Bitcoins cannot be money. It’s a slippery slope, if you take this argument to the extreme, there may be unintended consequences. Recommended video: Article Bit, Section Coin https://www.youtube.com/watch?v=MxyoIs9iQRo

  • anon599

    I bet his proposal will never grow teeth.

    Unfortunately, bitcoin is too widely recognized. Too many folks have too large of investments.

    Consider that the government has sizeable holdings itself after the silk road bust.

    At this point, they’re either going to ban it out try to regulate. “Coincidentally” large bitcoin trading “banks” are going down at an alarming rate since the silk road demise.

    Potential regulatory competition dropping like flies.

    Government regulation is coming.

  • shooter348

    I just want to know why Ben Swann is checking on how hit men get paid.

  • Roland Bradford

    Loss of control is why Manchin is upset with the bit-coin phenom…! It’s an everyman’s currency worldwide not requiring high paid lawyers, feds, brick and mortar buildings or middleman….. how scary indeed. :-)