2013-04-11 Bloomberg - Pozen Says Bitcoin Will 'Go Away'

[kiko]

http://media.bloomberg.com/bb/avfile/vMz2NS2.R.oM.mp3

From the 'Bloomberg Surveillance' feed:

Adam Posen, former Bank of England board member and now the president of the Peterson Institute for International Econoimics, says private money like the virtual currency bitcoin "has a very unstable history." Posen talks with Bloomberg's Tom Keene on Bloomberg Radio's "Bloomberg Surveillance."

A little context: Adam Posen, until last year was a voting member at the Bank of England, arguing repeatedly for even more money printing. Needless to say he is fully supportive of the bitcoin project.

<warning> This one might make a few of you rage...</warning>

Note: I'm not sure how long Bloomberg keeps their rss feeds up, so this link might break soon.

[lonelyminer (Peter Šurda)]

Well, one thing that Bitcoin does is that it makes statists expose themselves quickly and unambiguously.

[Gordonium]

"Adam Posen, former Bank of England board member"

Nuff said.

[StarfishPrime]

Wow. Neither Dr. Posen nor his interviewer seem to really understand bitcoin. They will soon enough.

It was sort of like listening to two four year olds talking about scary monsters.

The part about Dr. Posen's "Bitcoin Police" was priceless. LOL.

This may be the best example to date that some mainstream economists are no longer laughing, but are beginning to identify bitcoin as a threat. The problem is that economists like Dr. Posen are the ones advising governments and forming policy.

[herzmeister]

"GO AWAY!!! LEAVE ME ALONE!!! Maybe when I close my eyes and I pretend you don't exist you'll go away!!! Oh please God make it go away!!!"

I understand how they must feel. 

[cypherdoc]

well, we can expect to hear more negativity from Tom Keene as i alleged would come.

never ceases to amaze me why these guys never address the issue of how the current system allows only 0.01% of the world population to print money for themselves and not the rest of us. 

if you just step back and look at the sheer corruptness of that model there can be only one conclusion.  look out for yourself.

[BitcoinAshley]

Well, one thing that Bitcoin does is that it makes statists expose themselves quickly and unambiguously.

QFT

[bennett616]

"Adam Posen, former Bank of England board member"

Nuff said.

Hahaha +1

Andy B

[TraderTimm]

Pozen wishes Bitcoin would go away, is more like it. This is sounding more and more like when Napster started, and the RIAA/MPAA did a complete freak-out.

[teknomunk]

Pozen wishes Bitcoin would go away, is more like it. This is sounding more and more like when Napster started, and the RIAA/MPAA did a complete freak-out.

So true.  "Oh no! This will destroy our complete monopoly!"  For everybody except them, that is generally a good thing.

[DublinBrian]

"Adam Posen, former Bank of England board member"

Nuff said.

The membership of the board cycles very quickly through members to give all the bureaucrats their time at the feeding trough. Doling out sinecures to economists, is how they buy off any opposition to money printing.

[xcsler]

Yay! I just learned that I understand money better than a former central banker.