Jamie Dimon, affectionately known as “JD” by friends and family, has come out bent-wrist swangin’ against Bitcoin specifically, calling it a “fraud” and stating any Chase traders he found to be involved in trading it would be fired for being “stupid”. “It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,” he quipped in the arrogant tone of a god who reigns on Mount Olympus above mortal man. Further he went on to say that Bitcoin is “not a real thing,” which comes as a surprise to most that are familiar with the realities of the global banking system.

We can certainly discuss what is real and not real when we consider “fractional reserve banking”, wherein a bank that takes a certain deposit from a customer can lend out 90% of that amount while still providing credit to the customer for the full amount. The next customer that gets that 90% and deposits it will get their full account and the bank will lend out 90% of that amount and so on and so forth. Ultimately, a $100k deposit with the first bank will become $1 million added to the monetary system without any new money being printed or created all through a slight of hand totally permitted by our master central bank: the “non-federal un-reserve” money printing and inflating machine.

To continue the real-unreal discussion, we can further mention how the aforementioned central bank creates fiat currency, unsupported by anything of value but the good will and credit of the future earnings of the American people, out of thin air, by merely entering numbers on its in-house computer and transferring the funds directly to its member banks at zero interest to lend out and prop up the stock market with. If we want to get into ‘bubbles’, there is none greater than Wall Street.

With P/E ratios at obscene stratospheric valuations, the trading desks at the Federal Reserve and the Treasury’s ‘plunge-protection team’ have been busy using all that electronically created cloud-money to hold up the market at record heights, while the economy barely chugs along at 2% growth in GDP. More than a few experts have been predicting a massive collapse that is coming, inevitably:

Our fiat currency is as “unreal” as it gets, and now we might consider some other reasons why Mr. Dimon and other bank representatives would be so anti-Bitcoin and try to poo poo cryptocurrency till their last breath. Their trading profits have been going down steadily and significantly over the years, but they’re blaming lack of volatility. Could it be that cryptocurrency trading has taken thousands of traders out of the stock market and has shifted brokerage profits away from the large banks as market makers and clearing houses, and shifted them over to the smaller crypto-exchanges? Could this be a reason for lack of general volatility for many stocks? Perhaps in combination with many traders leaving trading altogether the accumulated loss of hands could certainly affect volatility which are at 20-year lows.

Could it be that retail traders have finally woken up to the rigged game that is the stock market? With its high-frequency trading, drastic gap moves regardless of the news due to sudden huge dumps or massive accumulations, and the market makers having access to far greater information than just about all retail traders, younger traders have seen the game for what it is: a mechanism to suck the life from their accounts. So the loss to big banks of overall trading volume, commissions for executed trades, and the difference in the spread-which has shrunk drastically due to the lower volatility-has likely been an unsolvable bane to their rapacious business model designed to drain accounts gradually.

We certainly wouldn’t want to anger the big banks and the big bankers; we know they only want what’s good for us, the little people. Surely their only desire is to help humanity and create prosperity by allowing everyone fair opportunities to make money from the secondary stock market, to lend the funds people need to buy homes and start businesses, and of course, to protect us from ourselves  so that we never get involved with that nasty fraudulent hoax called cryptocurrency. They always stay conservative in their business ventures and never lie or swindle their customers. You just sit back, relax, and trust in the bankers to tell you what’s what and how things should be.