by Jeff Berwick
Dollar Vigilante
RScoin is coming but do you want it?
Top UK Telegraph journo Ambrose Evans-Pritchard just wrote about this planned crypto-currency in what is either an incredibly stupid and uneducated article or pure propaganda… it was titled “Central banks beat Bitcoin at own game with rival supercurrency.” The article is horrible central bank happy-talk that reads like the Bank of England wrote it for him and starts off with a blatant lie only three words in… this new RScoin, put out by the central bank of England, has not BEAT bitcoin. It is worse in every imaginable way than bitcoin… right down to the name. RScoin… central banker types aren’t exactly the most creative. We’ll call it FiatCoin around here.
But the underlying intent is deadly serious. Central banks apparently have in mind mimicking bitcoin but issuing electronic currencies themselves and charging people to buy the currency. People may actually pay the central bank directly, thus creating accounts with central banks!