In a speech before the Senate Finance Committee he highlighted the increase in funds with regards to anti-terror funding measures. He said, “specifically on cryptocurrencies, we are spending a lot of time on this, on both an interagency basis and with the regulators. We’re about to roll out some significant new requirements at FinCEN.”
Joined Jun 2015
An English guy said this YEARS ago.
Respect for the 3% honest people in politics 👏👏😨
HERE'S LITTLE to chew 👏👏😨👏
commissioner, Mr. president, I rise again, I'm afraid to make the same old hoary speech here for several years, and that it is: It is my opinion that you do not really understand the concept of banking. All the banks are broke, ... Bank Santander, Deutsche Bank, Royal Bank of Scotland – they are all broke. 😨😱
And why are they broke? It isn't an act of god, it isn't some sort of tsunami, they are broke because we have a system called 'fractional-reserve banking', which means that banks can lend money that they don't actually have. It's a criminal scandal and it's being going on for too long. To add to that problem, you have moral hazard, a very significant moral hazard from the policital sphere. And most of the problems starts in politics and central banks, which are part of the same political system. We have counterfeiting, sometimes called 'quantitative easing', but counterfeiting by any other name: The artificial printing of money, which of any ordinary person did, they would go to prison for a very long time. And yet governments and central banks do it all the time. 😱
Central banks repress the amount of interest rates, also we don't have the real cost of money and yet we blame the retail banks for manipulating LIBOR. The sheer effrontery of this is quite astonishing. It's central banks. It's central banks, that manipulate interest rates, commissioner. And plus underneath all this we talk loosely, in a rather cavalier-fashion do we not, about deposit guarantees. So when banks go broke through their own incompetence and chicanery, the tax-payer picks up the tab! 😱
It's theft from the tax-payer. 😨😨
And until we start sending bankers, and I include central-bankers and politicians, to prison for this outrage, it will continue!