You are here

Ambrose Evans-Prtichard: Bitcoin fever is the primrose path to digital servitude

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, May 25, 2021

Bitcoin is already a barbarous relic in fintech time. It has failed to make the grade as a daily means of exchange after 12 years of agitation, bar money laundering, cyber-extortion, and Iranian sanctions busting.

It has not progressed beyond the stage of a speculative asset. It is captivating but is not what the evangelists promised.

... Dispatch continues below ...


USA Gold: Coins and Bullion Since 1973

USAGold, well known for its Internet site,, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

USAGold: Great prices, quick delivery -- all the time.

Some of the other 8,000 cryptos may acquire social utility. Goldman Sachs says Ethereum could muscle into financial contracts, becoming the “Amazon of information.” Fixed stablecoins may find a profitable role, though they still have an umbilical cord to dollars, euros, or yen, and import their credibility from a central bank exchange peg, and therefore are not currencies at all.

But one thing that cryptomania will certainly not achieve is to create a Hayekian catallaxy of denationalised “free” currencies that break the fiat monetary control of established states, and this surely was the original purpose after the Lehman debacle. 

The rebels are more likely to bring about the exact opposite: yet greater concentration of power in the hands of overmighty central banks and the digital oligarchy, the robber barons of our time. ...

... For the remainder of the commentary:

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
2 Poydras St., New Orleans, Louisiana
Tuesday-Friday, October 19-22, 2021

* * * 

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

Buyers can compose their case by choosing as many as four varietals from the list here:

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: