Simone Wapler – La Chronique Agora (France) –
Private virtual currencies hinder the authorities, especially since the “financial stability” touted by central bankers is a myth.
Bitcoin and private virtual currencies. As I do, the response is getting organized – especially on the tax front.
France, at the forefront in this area, will soon draw. This hate statement opens hostilities:
“Bitcoin is a triple bubble: a speculative bubble, a bubble of opacity and a criminal bubble […] So you have to burst the bubble. “
Bruno Dalles, Tracfin, The Figaro of December 13
Tracfin is the French anti-money laundering and anti-terrorist financing unit, which is part of the Ministry of Economy, Action Finance and Public Accounts, aka Bercy. Our zealous officials will soon move, be in some.
On the other side of the Atlantic, we have seen Fed and Janet Yellen say they are not afraid of bitcoin. In fact, there is no danger to financial stability.
“I think when we look at other indicators of financial stability, there is no red light or even orange. “
Janet Yellen, December 13 (1)
Mmmmm …. Let’s take a look at this green grass and yellow chick dash Janet Yellen.
There is an organization for taxpayers in the United States called the Office of Financial Stability, which reports to the Treasury Department and is officially the job.
These bureaucrats are releasing reports called OFRs and a Financial System Vulnerabilities Monitor.
Here is the last dashboard to date …
Gasp! … as you can see everything is ripe orange or blood red and not green grass or yellow as Janet says! The only small green spot (commercial real estate) disappeared in the third quarter of 2016.
Janet Yellen’s statements and the OFR’s dashboard: the Fed is color-blind and does not distinguish red from green.
In addition, our Janet has a disorder of the OFR
” An increase in the already high prices of financial assets and lower risk premiums may leave some markets vulnerable to a big correction . ” (2)
In these conditions, there are risks and bubbles everywhere … except for gold! For attentive observers, just go to the market, the gold market has started a furtive hike. Find out here how to position yourself to the future of the future.