Mastercard CEO Calls Bitcoin “Junk” As BTC On Verge of Surpassing His Loan Shark Operation In Value

by Jeff Berwick, The Dollar Vigilante:

Every day now some corporate shill, central banker or politician is being forced to comment on bitcoin as it is now worth $100 billion and bigger than archaic remnants from the past like Goldman Sachs and Paypal.

Rhyming with Paypal, Ajaypal “Ajay” Banga, the CEO of Mastercard was the latest to step up to the microphone and do his best to say why he hates bitcoin.

Aside from the fact that bitcoin is quickly catching up to Mastercard’s $150 billion valuation, he had this to say to the Economic Times today:

“If the government creates digital currency, we will find a way to be in the game. We will provide rails for moving currency from customer to merchant. The government mandated digital currencies are interesting. Non-government mandated currency is junk.”

If you are unclear as to what he said I put it through a crony-capitalist/statist translator:

“If a group of violent criminals in a certain geographic region (government), extort (tax) the people in that region under threat of kidnapping or death and demand they pay their extortion fees with unbacked pieces of paper with dead criminals printed on them, we will do everything we can to become a willing accomplice to their crimes and become a scurious middleman to profit from it. If other people do not do this and use a voluntary free market money we do not like that… at all.”

Of course he would say that bitcoin is “junk”... it threatens and is threatening his entire business model. What else is he going to say? “We will eventually lose all our business to bitcoin, so we give up?”

Perhaps the funniest part of this is that Ajay Banga, which I have to admit is a pretty cool name, is from India where in the last year the government decided to demonetize a large portion of its fiat currency leaving many people broke, standing in long lines for weeks, and caused numerous suicides.

This is the system that Ajay prefers over a voluntary digital currency without middlemen that cannot be demonetized at the whim of a central banker or president leaving hundreds of millions of people destitute!

Also, Ajay probably hasn't figured out a way to convert his loan sharking business over to bitcoin. Profiting 30% per year in interest from broke people to keep them in perpetual bondage doesn't work as well without fiat.

Just like Jamie Demon who called bitcoin a “fraud”, or the terrorist Prince from Saudi Arabia, yesterday, who said bitcoin is like Enron, Ajay was told by his handlers to get out there today and try to tell people bitcoin is “junk.”

That’s all they can do. They can’t shut down bitcoin without shutting off the internet. And they can’t arrest bitcoin’s CEO because there is no CEO.

So, they are left trying to attack mathematical computer code with words!

I guess they haven’t heard. Bitcoin is the money badger. It don’t care what you do or say.

While the Saudi prince calls bitcoin a fraud, his loyal slaves don’t appear to think so.

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