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Our old buddy Jamie Dimon made news the other day when he came out and blasted Bitcoin.  At that time, he called it a fraud and said that people should avoid it.  Since that time, the price of BTC along with other currencies collapsed.  Unlike the mortgage backed securities that he and his bankers friends papered the world with, I am sure Dimon's sole intention was to help people not to lose money.  Of course, with the recent collapse, people are taking a bath.  Therefore, I am going to conclude that Dimon's intention is not to help people keep their hard earned money.


So what is Dimon up to?  To start, we know the bankers are well aware that the blockchain, along with other technologies, are putting their business model at risk.  Who needs trusted third parties i.e. a bank when you can just operate on the blockchain were all transactions are verified by the system.  Also, when you see that the cryptocurrency world is an alternative to the central bank fiat currency which all the major bankers are a part of, you see how this could be a death blow.


Which brings us up to Dimon's tactics.  He is using a proven play book.  It all starts with demonizing the threat.  In this instance fraud, scam, and ponzi scheme all work well.  It puts fear in the average person since they only listen to the headlines.  Without research, people fall prey to this.  Is this their own fault?  Most likely but it does not matter.  Dimon is well aware of this hence his continual blasting of it.


The second tactic is to send their owned puppets out also known as politicians.  After scaring people, the bankers get their government hacks to start passing laws making it harder for people to get or hold a particular thing.  We are already starting to see this around the world.  The idea is to attack the people who don't buy into the scam or ponzi scheme rhetoric.  If they cannot scare you, they will make it such a pain in the ass that you won't want to deal with it.


Finally, Dimon goes about tactic #3: buy it all up.  Through their sheer purchasing power, they can attain a large quantity of a finite substance.  Bitcoin has 21M coins in total available (over time).  Dimon and the other banksters really only need to go in and get their greedy paws on 5M-7M.   Obviously, this will take some time and a whole lot of money.  The longer they can suppress the price, the more they get.  Their goal is control, plain and simple.


Now you know what Dimon is up to.  Find this hard to believe?  Then look at gold and what took place in that arena.  Who controls the gold market?  Does anyone really believe the bankers are not manipulating the living hell out of it.  Of course they are.  Who do you think owns all the physical gold?  It isnt the average person who has an ounce or two or a couple of coins.  It is the banking conglomerate who owns tons of gold.  They will attempt to do the same thing in the crypto world.


One final thought...Dimon mentioned that he thought BTC would go up to $100,000 before it collapsed (to zero I presume).  Why did he say this?  My view is he knows it will never collapse so that was an outright lie.  What is true is the run to $100K.  Why?  Because he knows there will be people who hold onto their coins as the bankers amass them.  Do not forget, everything a banker acquires that is a store of value is held.  They fail to trade the asset itself instead creating derivatives to sell against the asset.  Hence, the BTC they acquire will be stuff in cold storage, most likely, forever.  This will increase the value of it significantly especially if it because a fairly common as money.


The $1000 point drop in the price of Bitcoin just allowed Dimon and the other banksters to get 1/4 more for the same money.  Look for it to be pushed down even further as they start to amass their positions.  This is bankster 101.

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