Nothing like that demented mainstream media narrative: talking about the Duck Dynasty guy’s personal views on gays non-stop, but kicking real stories like the Fukushima ongoing radiation crisis to the curb.
And when it comes to innovative technologies like Bitcoin, “our” “free” press is equally off the rocker.
Back in January, one Bitcoin fetched $13. When I began covering it on my podcast, the price was around $10 per coin. Today, even “post-crash” in mainstream media parlance, the same coin is worth $702 on the Mt. Gox exchange. That is a 54x return year to date, and the year’s not even finished yet. Find me a stock that has gained 54x during the same time period — would the media label that a “crash” also? I don’t think so.
The media is not your friend. Unless your name is JPMorgan Chase or Bank of America.
And the group who could be most helped by Bitcoin’s promise of frictionless money, liberated from constant fees, is the American middle class – a middle class hammered by increasingly stringent credit history requirements for loans, ruthless foreclosures, insane student loan debt.… Read the rest