Bitcoin gets a victory in Europe as EU courts rule it is to be treated as money

On Oct. 21, Bitcoin got a strong victory from an European Union (EU) court ruling that termed the crypto-currency as money, and as such should not be taxed as either a commodity or collectible.  This ruling, as opposed to how the U.S. courts have suggested Bitcoin is an investment rather than currency, opens the door for much greater use and acceptance in the Eurozone, and in commerce for countries mired in inflation and sovereign currency issues.

Bitcoin rose in value against most major currencies after the ruling, and has over time stabilized despite attacks from sovereign regulators who have tried to both negate and destroy the currency in the eyes of the public and in retail transactions.

Bitcoin got a boost at the European Union’s top court after judges said exchanging virtual currencies should be exempt from value-added tax in the same way as traditional cash.

In a ruling that puts Bitcoin on a more equal footing with mainstream money, the EU Court of Justice sided with Swede David Hedqvist who set up a service for the exchange of mainstream money for bitcoin and vice versa. VAT, a type of sales tax, shouldn’t be charged because the business involves “the exchange of different means of payment,” the judges said.

“It’s very good news,” said Simon Dixon, CEO of Bnktothefuture.com, a platform for investing in new, alternative financial products, including those based on Bitcoins. “If you were taxed on the exchange it would make it an inferior currency to other currencies, so the implications of it being treated as a currency are that it can free flow.” – Bloomberg

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Bitcoin has followed the path of that old axiom from Mahatma Ghandi that goes, “First they ignore you, then they laugh at you, then they fight you, then you win.”  And since its inception less than a decade ago, Bitcoin has not only won out over those who would discredit it, but now it is getting support from the very sovereign agencies who would suffer the most from it’s success.

Bitcoin is not the only alternative form of currency rising up out of the world’s rejection of fiat currencies, and its success is being seen and felt in other forms such as Bitgold and Karatbars.  And as the world rushes headlong into its next monetary crisis that will assuredly see the end of purely fiat forms of money, the types of trade and commerce that emerge from this collapse will be in non-centralized financial systems, and in direct bi-lateral trade using any form of money people and retailers choose to conduct commerce in.

Kenneth Schortgen Jr is a writer for Secretsofthefed.comExaminer.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

HERE IS A LIST OF EVERY SINGLE TIME OBAMA COMMITTED AN IMPEACHABLE OFFENSE THAT DEMS & MEDIA COVERED UP “Impeach!” It’s been more than eight years since Democrats uttered that word – long enough for anyone to wonder if it was still in their vocabulary, considering the deafening silence through the dozens of serious scandals during President Obama’s administration – but now that President Trump is the man in the White House, it’s back with a vengeance. . . Democrats everywhere are wildly slinging the “I” word, hoping to nail Trump for high crimes and misdemeanors after the New York Times claimed a memo written by former FBI Director James Comey said the president urged him to end the federal investigation into former national security adviser Michael Flynn. . . Some members of Congress are getting in on the action. They include Reps. Maxine Water, D-Calif., and Al Green, D-Texas. Even a Republican, Rep. Justin Amash, claimed Wednesday there are grounds to impeach President Trump. House Oversign Committee Chair Rep. Jason Chaffetz, R-Utah, asked for the alleged Comey memo and other documents. Chaffetz tweeted that he is prepared to subpoena the information. And Sen. John McCain, R-Ariz., invoked “Watergate.” . . Now the Democratic Party is reportedly poll testing impeachment as a 2018 election issue. More than 1 million people signed a petition calling on Congress to impeach Trump. . . Wasting no time Wednesday, the mainstream media sprang into action, enthusiastically echoing the left’s impeachment calls. MSNBC launched a Watergate ad implying Trump is America’s new Richard Nixon. . . “Watergate. We know its name because there were reporters who never stopped asking questions,” says MSNBC host Chris Hayes, who hinted that Trump is next on the impeachment chopping block. “Now, who knows where the questions will take us. But I know this: I’m not going to stop asking them.” . . Meanwhile, some overzealous members of the left plastered fliers around Washington, D.C., demanding all White House staffers resign Wednesday. . . The posters read: “If you work for this White House you are complicit in hate-mongering, lies, corrupt taking of Americans’ tax money via self-dealing and emoluments, and quite possibly federal crimes and treason. Also, any wars will be on your soul. … Resign now.” . . But constitutional scholar Jonathan Turley, who voted for President Obama, warned “impeachment” enthusiasts not to get ahead of themselves with President Trump. Why? . . At this time, there’s no evidence Trump actually committed a crime. . . “The criminal code demands more than what Comey reportedly describes in his memo,” Turley wrote in a May 17 opinion piece posted at the Hill. Turley explained: . . For the first time, the Comey memo pushes the litany of controversies surrounding Trump into the scope of the United States criminal code. . . However, if this is food for obstruction of justice, it is still an awfully thin soup. Some commentators seem to be alleging criminal conduct in office or calling for impeachment before Trump completed the words of his inaugural oath of office. Not surprising, within minutes of the New York Times report, the response was a chorus of breathless “gotcha” announcements. But this memo is neither the Pentagon Papers nor the Watergate tapes. Indeed, it raises as many questions for Comey as it does Trump in terms of the alleged underlying conduct. . . A good place to start would be with the federal law, specifically 18 U.S.C. 1503. The criminal code demands more than what Comey reportedly describes in his memo. There are dozens of different variations of obstruction charges ranging from threatening witnesses to influencing jurors. None would fit this case. That leaves the omnibus provision on attempts to interfere with the “due administration of justice.” . . However, that still leaves the need to show that the effort was to influence “corruptly” when Trump could say that he did little but express concern for a longtime associate. The term “corruptly” is actually defined differently under the various obstruction provisions, but it often involves a showing that someone acted “with the intent to secure an unlawful benefit for oneself or another.” Encouraging leniency or advocating for an associate is improper but not necessarily seeking an unlawful benefit for him. . . -Obama’s Iran nuke deal -Obama knew about Hillary’s private email server -Obama IRS targets conservatives -Obama’s DOJ spies on AP reporters -Obamacare & Obama’s false promises -Illegal-alien amnesty by executive order -Benghazi-gate -Operation Fast & Furious -5 Taliban leaders for Bergdahl -Extortion 17 -‘Recess ‘ appointments – when Senate was in session -Appointment of ‘czars’ without Senate approval -Suing Arizona for enforcing federal law -Refusal to defend Defense of Marriage Act -Illegally conducting war against Libya -NSA: Spying on Americans -Muslim Brotherhood ties -Miriam Carey -Birth certificate -Executive orders -Solyndra and the lost $535 million -Egypt -Cap & Trade: When in doubt, bypass Congress -Refusal to prosecute New Black Panthers -Obama’s U.S. citizen ‘hit list’