Several politicians warned bitterly yesterday against Bitcoin yesterday. Two leftists warned that the Bitcoin hype nourished the illusion that one could become rich without any work. But this is only granted to the wealthy or deceivers. Warning sounds also came from the head of the Japanese central bank, Haruhiko Kuroda as well as the CDU MEP Elmar Brok, who fears that people could " lose their little houses ".
The two deputies Fabio De Masi and Sahra Wagenknecht felt obliged yesterdayto warn the Handelsblatt of new forms of investment. Sharp falls in prices at Bitcoin would also pose a threat to the stability of the entire financial market, according to the two politicians of the Left Party. In particular, they criticize the US Financial Supervision's permission to bet on the Bitcoin price for a few days by means of issued futures. This does not provide for more security, but for the opposite, they believe. Nevertheless, there are good reasons not to leave the monetary system alone to the control of the banks. The Bitcoin is nothing more than another financial bubble that will burst sooner or later. As a result, it could subsequently come in the EU area to a "rapid decline in stocks, bonds or even real estate". Crypto currencies do not view De Masi and Wagenknecht as an alternative to centralized monetary systems. On the contrary: "They serve the total privatization of money, which always leads to crises," believe the two politicians.
Haruhiko Kuroda sees the BTC as a speculative object
Haruhiko Kuroda , the head of the Japanese central bank, blew in the same direction yesterday . For him, the BTC is a "speculative object". The current price is "abnormally high" on him. Because Bitcoin does not behave like a normal means of payment, many professionals would deny it the status of a currency.
Elmar Brok: When Lieschen Müller plays her house with cryptocurrencies
The conservative European politician Elmar Brok cares about the savings of the citizens , who could lose them in new investments. There are currently many people with a small fortune who would hope for the quick money. In case of failure, the policy would be abused because it did not prevent the Leue "lose their little houses," said Brok. On the other hand, it could not even address "that the greedy can be compensated by the state," which is why he publicly pleads for clear conditions and transparency rules. Warnings should be so clear that even "Lieschen Müller" knows that she runs out of money should her speculation go backwards. In addition, the Merkel confidant misses a real Bitcoin value. As in the 17th century at the end ofTulip Mania , the world's first well-documented speculative bubble that floundered into the downside, would have left people with at least their (albeit worthless) tulips. With the Bitcoin one would have nothing in the hand in the hand.
What Brok stands for sounds a lot like the striking warning that must be printed on every pack of cigarettes across the EU. Time will tell what actions European politicians are still taking to protect their citizens against cryptocurrency trading. Let's hope that investors will then be warned in the same way before all other speculative transactions, as before the trade with BTC & Co. But equal treatment of the EU of all speculative transactions is probably already too much to ask, right?