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Is Bitcoin Standing in for Gold?

By Dr. Paul Craig Roberts and Dave Kranzler

June 1, 2017

A note from Pastor Kevin Lea follows this article

We have known early on that the prices of gold and silver are manipulated by the bullion banks acting as agents for the Federal Reserve. This is the only thing which keeps the fiat dollar in circulation. But with the availability of cryptocurrencies, the rigging may not last for long.

The bullion prices are manipulated down in order to protect the value of the US dollar from the extraordinary increase in supply resulting from the Federal Reserve’s quantitative easing (QE) and low interest rate policies.

The Federal Reserve is able to protect the dollar’s exchange value vis-a-via the other reserve currencies—yen, euro, and UK pound—by having those central banks also create money in profusion with QE policies of their own.

The impact of fiat money creation on bullion, however, must be controlled by price suppression. It is possible to suppress the prices of gold and silver, because bullion prices are

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Note from Pastor Kevin Lea:  According to biblical prophecy (Daniel and Revelation), someday the world will be ruled by a global government.  The world ruler (the Antichrist) will also have power to globally control everyone’s buying and selling (Rev 13).  Therefore the current status of Bitcoin (anonymous, not government controlled) must change sometime in the future, possibly to the detriment of all those who currently believe they are getting rich by owning currency in zeros and ones (digital).  However, some type of digital currency, which will be controlled by the world government, would certainly fulfill the prophetic word.  Maybe out of the collapse of Bitcoin will come a clarion call for the government to come up with a digital currency that will never steal the billions of invested digidollars again.