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New Report Shows that Bitcoin is Not a Primary Currency for Terrorist Funding and Money Laundering

by Kenneth Schortgen, The Daily Economist:

As a modern day axiom likes to say, ‘Don’t steal, the government hates competition.’. And this is exactly why both governments and central banks despise monetary forms and systems that are outside their control.

Bitcoin of course was created to be a completely de-centralized form of money through which governments and central banks could not destroy using their well oiled processes of monetary expansion, devaluation, and inflation. And now that it has become an ever growing part of the mainstream, one of their new fears is that because they cannot control its price in the open markets, Bitcoin is acting in the aspect that gold used to by revealing how insolvent the dollar and other world currencies really are.

So if governments and central banks are unable to control, regulate, manipulate, or even co-opt the crypto-currency, this leaves one final arrow in their quiver to try to dissuade the masses from moving into it. And that of course is propaganda.

Over the past few years governments have used their controlled mainstream press to try to label Bitcoin as the currency of drug dealers, money launderers, and of course, terrorist groups. But a new report out on March 2 shows that in fact the use of Bitcoin in financing terrorism or in laundering money for illicit groups is nothing more than a canard.

Ever since bitcoin started gaining popularity, claims have been made as to how this “anonymous” currency facilitates terrorist financing. That has always been a very disturbing claim, even though there was never any solid evidence to back up these claims by any means. In fact, this particular UK report goes to show how cryptocurrency is not used by terrorists, and most likely never will.

It is evident government officials overreact when they are greeted with new and innovative technologies. Particularly when these innovations take place in the financial sector. Terrorist financing has been a thorn in the side of government officials for quite some time now, yet they are no step closer to finding out where the money is coming from. Blaming bitcoin and other cryptocurrencies for this issue is a logical conclusion, even though officials are incapable of providing this is happening. – The Merkel

Ironically over the past few years, it has been proven that it is more likely that highly regulated global banks participate in money laundering, illicit activities, and aiding in terrorist funding far more than any other type of alternative banking or currency mechanisms. And there is even one report that suggests that the major Western banks would have gone insolvent if it weren’t for their participation in laundering money for the drug cartels during the 2008 financial crisis.

The rise of Bitcoin has almost moved in tandem with the rise of populism and the growing rejection of fascist government controls and central bank monetary destruction. And when you include the growing rebellion coming against the mainstream media, who are today seen as little more than a propaganda arm of each, the labeling of Bitcoin as a currency for criminals by governments no longer holds any water, and the facts are now coming out to prove it.

Read More @ TheDailyEconomist.com

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5 comments to New Report Shows that Bitcoin is Not a Primary Currency for Terrorist Funding and Money Laundering

  • Eric

    Nice picture. Be great if bitcoin really could buy you groceries. Unfortunately it still needs to be exchanged back into private bank notes. And that’s assuming it can be.

  • thinking outside the matrix

    Ya like you could really buy your groceries wih gold, silver, or anything else that’s not cash. There you go again blurring the facts. Don’t be mad bc you’re late to the Bitcoin party, lol. Can’t believe you even show your face around here. You’re Such an embarrassment.

    Love,

    Matrix

    • Eric

      I can buy groceries with Silver easily. Not that I would want to when cash is still king. Bitcoin isn’t accepted anywhere however. But then some people know that Silver is sound money and digital blips are just a medium of exchange.

      There is no bitcoin party and never has been. You’re just early to the bitcoin funeral.

      I can’t believe you show your face around here. There’s a new report out that says Bitcoin is the primary currency of numb nuts who don’t know what real wealth is.

      When are you going to stop being stuck in the matrix? Take the red pill already. sheesh. You’re embarrassing yourself.

      If you don’t hold it, you don’t own it.

      Nobody needs a paper wallet.

  • Dan W

    “If you don’t hold it, you don’t own it.” Then shills for First Majestic stocks, soybean meal, and GoldMoney.

    • Eric

      Yeah, where I have not more than 3.5% of my “money” and even less of my overall wealth. And where I have been very open about it.

      Nothing wrong with speculating a little bit. If people want to speculate on crypto-currencies that is okay by me. I just grow tired of hearing how bitcoin is going to “go to the moon” and be the next best thing since sliced bread when that is clearly not the case. There is no reason to think that and nobody has presented a logical case as to why that is as of yet.

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