22 votes

Krugman: Bitcoin is Evil

Krugman sez...

...Well, you should read Charlie Stross:

BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind—to damage states ability to collect tax and monitor their citizens financial transactions.
Go read the whole thing.

Stross doesn’t like that agenda, and neither do I; but I am trying not to let that tilt my positive analysis of BitCoin one way or the other. One suspects, however, that many BitCoin enthusiasts are, in fact, enthusiastic because, as Stross says, “it pushes the same buttons as their gold fetish.”

So let’s talk both about whether BitCoin is a bubble and whether it’s a good thing — in part to make sure that we don’t confuse these questions with each other.

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Krugman is like the Pied

Krugman is like the Pied Piper of Group Thinking Keynsian Dumb Dumbs. And then the media parrots his Keynsian bullshit, and then liberals and crony capitalists get all excited and get stupid. This is group think methodology.

Be Your Own Media!!!

I am very suspicious and wary of BitCoin.

But knowing Krugman doesn't like it is the most positive news I've ever heard about it.

Maybe it has possibilities.

Krugman doesn't like it?

That is the best sign of its future if there ever was one!

Made it through about the first fifty comments

without finding a single one that agreed with Krugman...

How could an A-Hole Like Krugman EVER have won a Nobel Prize?

Kind of shows how little credibility Nobel Prizes have.

O-bomba won a Peace prize but bombed Lybia, Pakistan, Iraq, Afghanistan and now has our military in 35 countries in Africa.

And just how peaceful is it to impose the harsh sanctions on Iran which he has on them now?

Dr. Paul taught us that sanctions ARE AN ACT OF WAR.


"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

I think Krugman and his buddies

bought a bunch of bitcoin and he's trying to drive the price up.

I mean, Evil saying it's evil, what an endorsement!

Defend Liberty!

Krugman is stupid and evil. He says breaking windows helps.

Well, it helps his banker bosses. It's how he earns his pay by telling economic lies.

Free includes debt-free!

when did the gods of economics decide

That deflation is morally bad and inflation is morally good? The tendency for the central banks to always chose inflation over deflation can only lead to an imbalanced world in the long term. Radical deflation will at some point be inevitable.

Why does anyone care what that person has to say about anything?

Paul Krugman... that's it, that's all I have to say, and that is bad enough and speaks volumes... repeat... Paul Krugman.

Are you a POT or a PET - Person Embracing Tyranny?

man, I might have to get into BitCoin

Krugman is always wrong. As someone posted here some time ago, Krugman is like a rooster weathervane, except you have to see where the ass end is pointing.

“Although it was the middle of winter, I finally realized that, within me, summer was inextinguishable.” — Albert Camus

Yeah if you were on the

Yeah if you were on the fence, now they trotted out the captain of the Mickey Mouse economics club to denounce btc, you know btc needs a second look.

It's better than a paid endorsement

Every bitcoin purchase is a way to say screw Krugman. He'll be right up there with Obama: the greatest gun salesman in history.

There is nothing strange about having a bar of soap in your right pocket, it's just what's happening.


the Krugster thinks Bitcoin is EVIL well..it must be worth owning.


The earth is still flat in Krugman's world

In fact, the sun even revolves around Krugman's planet.

Krugman never strays too far on his journeys due to the fear he will fall off his planet.

I'm feeling a Chuck Norris theme here, anyone?


Krugman is a dumbass

Krugman is a dumbass

Be Your Own Media!!!

Krugman is a dumbass

Krugman is a dumbass

Krugman is a dumbass

Krugman is a dumbass

To climb the mountain, you must believe you can.

Krugman is a dumbass

Krugman is a dumbass

I think you guys are onto something!

Kind of like Fuck you Frank!

"It is difficult to free fools from the chains they revere".

It's hard not to be a menace to society when half the population is happy on their knees. - unknown


Krugman is a dumbass.

1998 Paul Krugman prediction regarding the internet:

Paul Krugman prediction (1998): "The growth of the Internet will slow drastically, as the flaw in "Metcalfe's law"--which states that the number of potential connections in a network is proportional to the square of the number of participants--becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."


Being so clueless, consistently wrong and yet having legion of fanboys across the world citing you as if you're credible truly is an art, Paul Krugman is the Leonardo DaVinci of it...

"If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom — go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains sit lightly upon you, an

Keynesian economist Paul Krugman on the irrelevance of the Inter

Keynesian economist Paul Krugman on the irrelevance of the Internet - 1998

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms

Federal Reserve Notes are Evil

Federal Reserve Notes with only 42 years of existence without a relationship to gold are evil. In those 42 years without golden handcuffs, we as a nation have allowed our leaders to put us into debt to the tune of $17.2 trillion.

And what does the Ryan Budget just passed propose?

An increase in the Federal Deficit of $63 billion ($45 billion for FY2014 and $18 billion for FY2015) with a "promise" of a reduction of $23 billion over the next 10 years.

There is not one mention in the budget about the National Debt or any potential higher interest to be paid on the debt should interest rates rise. There is also not one mention of any solution to the long term problems (unfunded liabilities).

You can't make this stuff up.

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

Time to buy Bitcoins if you're a speculator

because this is the best ringing endorsement of it I've heard yet.

The Open Money Revolution is Upon Us

Make no mistake about it, Bitcoin has opened Pandora’s Box with regard to money. Perhaps this is why Krugman and so many other establishment voices are busy propagandising the general public.

We all know that hyperbole is the use of exaggeration as a rhetorical device or figure of speech. It may be used to evoke strong feelings or to create a strong impression, but is not meant to be taken literally. It does however grab attention and in the age of Twitter it can help drive traffic to your website.

Exaggeration or not, calling a math-based protocol evil makes as much sense as the so-called war or terror. Declaring war on a tactic of war is absurd, nonsensical, and yet people do it. The fact is the power of the American empire rest on the legacy banking system, those who hate Bitcoin know this.

Yes, there is an agenda and calling Bitcoin evil betrays that agenda. It may not be a poor use of the English language, but it is a poor use of logic and common sense. This rhetoric also betrays a loyalty to the same false authority which uses poor English to justify endless war. That places Krugman and his ilk on the wrong side of the ideological fence where so-called progressives become conservative defenders of the status quo.

The existing state of affairs is a system built upon false authority where money is used as a mean of state control. Those who serve this evil do so because they believe that system should them, and indeed it has. However the hand writing is on the wall, thanks to Satoshi Nakamoto, the legacy banking system is obsolete.

Speaking of English, ask yourself, what is the intrinsic value of the English language? Its clearly worth a lot, since it allows communication and coordination which massively increases human productivity. Money is the same way, and all the more so when it is separated from the State. English allows computer hackers the world over to collaborate on very complex projects. Money is basically the same thing, a mean of communication, and Bitcoin is becoming the language of liberty free from the false authority of government. That is its intrinsic value. Like English, as more people use it that makes Bitcoin more valuable. Why is this so hard for people to grasp?

Like it or not the Open Money Revolution is upon us.