Banks Are Terrified of Cryptocurrencies & This Is Why

In this video, Luke Rudkowski talks once again with Josh Sigurdson of World Alternative Media about the latest in crypto news!

This week Bank of America warned in an SEC filing that there’s a serious concern that cryptocurrencies will hurt their business and that they need to adapt immediately.

An investigation by Nikkei Asian Review in Japan showed that cryptocurrencies only made up for about 0.16% of money laundering reports which contradicts the mainstream claim that crypto is mainly used for laundering.

Another notable story is the attempt by states and central banks throughout the world to create their own cryptocurrencies.

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20 Comments

  • hypo krites
    Reply

    bitcoin is unsustainable …. stop …. bitcoin is about getting people to dump their savings in to a scheme that benefits peeps who jumped on the bandwagon early on …. stop …. don’t buy bitcoin if you really care about crypto currency …. stop …. bitcoin will only ever fall in to fewer and fewer hands, and the means to mine it will be wielded by larger and larger interests. Bitcoin is dead. End of Line.

  • yourenotinthecircle
    Reply

    as a complete crypto normie, where should i go to start learning about it and why banking cartels don’t like them?

  • Critical Mindset
    Reply

    The token model is the future, and the future is now. Why would companies bother with old-fashioned, costly IPO proceedings, when they can launch a MORE VALUABLE token/coin ICO at a fifth of the cost, with immediate liquidity? No underwriters, no banks, no hassle. Then there’s the consumer benefits………

    Think about it, why would consumer investors bother with cumbersome old stock models? Why, when they can own a cryptographic token THAT THEY HOLD, AND FOR WHICH THEY OWN THE PRIVATE KEYS? A token that is instantly tradeable/exchangeable on a PEER-TO-PEER BASIS, without brokerage or third-party fees, and functions on supply and demand in a free and open market? This is the root of a tree that will render modern finance unrecognizable within 15 years.

  • Jerome Gagnon
    Reply

    dont get me wrong, i love crypto and the blockichain, but im more encline to think that the banks can just print more of their funny paper and just buy as much crypto with it as they want, thus still be on top of it all, all the while faking being affraid…

  • Joe Biggers
    Reply

    I’m sorry I just don’t buy the fact that cryptocurrencies are going to replace any currency. The bankers when governments have the ability to use quantum computers to break any cryptocurrencies codes and make them obsolete.

  • Joe Biggers
    Reply

    So imagine the only cryptocurrencies would be controlled by the exact entities you think cryptocurrency would circumvent. Where people can either comply and go along with what they say or with a push of a button they become as Rich As the day they was born. The only cryptocurrencies that would be allowed would be there’s any others would be smashed

  • Eric Penrose
    Reply

    End of any business regulation, end of (redistributive) taxation, means poverty – disappears? Yeah, right, of course it does. Such tenets aren’t to be questioned apparently.
    And so bitcoin payments are .. trackable, yet at the same time taxes can’t be enforced on the user? How can a tracked payment that could cover other crime not also cover tax evasion? There I was thinking govt would resorts to Vault 7 like tools, perhaps they don’t even need that then – silly me (nb I’ve on this channel confused bitcoin with a centrallised digital currency).
    And even if user uses a Tor system you just have to see a recent report on – the US Navy Intell”s very own – Tor, by .. a certain .. James Corbett.

  • Pip Santos
    Reply

    It is only technology which can overthrow entrenched monopolies. In some way it was the printing press which brought monarchy to its collapse. Knowledge after the printing press begun to be accessible to the common people. The industrial revolution liberated woman. They were able earn and support themselves. The internet has now defeated the dominance of the MSM and Hollywood. My kids don’t have the appetite to watch mainstream entertainment. Money is next. The banking system is going to collapse. In 5 years, most people will have crypto addresses just like they have email adds after 5 years of internet. After that, world peace will be achievable.

  • Stephen .Shuman
    Reply

    I have no issue with crypto currency or block chain however I do take issue with people comparing bitcoin to gold. Gold is actually scarce where bitcoin in a way is not scarce. The only thing I see scarce about bitcoin is its name because only 21 million can be created. Their are hundreds of crypto currencies that do the same thing as bitcoin and improve on bitcoin which is why I think cryptocurrencies in general are a terrible store of value.

  • Howard Romano
    Reply

    Revelation 13:17 King James Version (KJV)
    17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

  • Nicole Newton Schmitt
    Reply

    Hi, there Luke and Josh! Whilst I understand your enthusiasm I am surprised that at no time you even allude to the bitcoins that went missing [embezzled???] or to the fact that Crypto currencies rely 100% on the internet… Maybe this is why the banks are not so terrified after all, because they know that all it takes`is the flick of one switch and the internet is a thing of the past! I welcome all comments

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