There's a bigger agenda happening with bitcoin that needs to be publicly stated, and this goes far beyond the issue of the financial harm that will be caused when the bitcoin bubble finally implodes.

Central banks hate bitcoin. They hate it because it doesn't allow them to loot bank accounts (Cyprus) and control the movement of capital around the globe. Bitcoin, in fact, threatens the very foundation of monetary control that underlies all the corrupt governments of the world. As such, bitcoin is a huge threat to the status quo, making it an obvious target for the globalists to attempt to destroy.

Discrediting bitcoin isn't enough, however. To really be effective, they need to make bitcoin illegal.

The plot to criminalize bitcoinHow do you criminalize bitcoin? The same way you get guns banned: Plan an attack, make sure lots of people get hurt, roll out all the victims in front of the cameras, then use the sob stories as moral justification to crack down with oppressive new laws.

This is the agenda being planned right now with bitcoin. The recipe works like this:

Step 1) Central banks buy up massive quantities of bitcoin currency, driving the prices into the stratosphere and encouraging millions of people around the world to jump on board the "get rich" bandwagon.

Step 2) Once bitcoin valuations reach a sufficient level of insanity, start a massive selloff by dumping the bitcoins you already bought onto the market, offering them for sale at any price (i.e. sell into falling prices, accelerating the loss in valuations).

Step 3) Watch panic take hold as the bitcoin crash accelerates, ending in a catastrophic wipeout of "valuation" of all bitcoins.

Step 4) Find "victims" of the bitcoin crash who can tell a good sob story for the mainstream media about how they invested little Johnny's college money in bitcoin and lost it all. Roll them out on CNN and MSNBC where they cry on camera and talk about how they were ripped off by bitcoin and now they only trust the government from now on.

Step 5) Demonize bitcoin by characterizing it as a "libertarian pyramid scheme." Lash out against both decentralized currencies and libertarians.

Step 6) Once the demonization gains traction, have traitors in the U.S. Congress announce a "Consumer Currency Protection Act" that outlaws non-central bank currencies such as bitcoin. It's all "for your safety," of course. Shut down all online bitcoin wallets and exchanges, calling them "criminal pyramid schemes" and arrest a few people using bitcoin to send a warning message to the rest.

Mission accomplished! You've now made bitcoin look like a "pyramid scheme," you've scared the public into being wary of "anti-government currencies," and you've criminalized their use by consumers.

That's the goal the central banks are trying to achieve right now. It's all be set in motion by the bitcoin bubble which will inevitably lead to a bitcoin crash.

Bitcoin is being manipulated as a pawn in the globalist scheme to destroy freedomThe bitcoin bubble is to currency freedom as the Sandy Hook shooting was to firearms freedom. In both cases, governments will use a crisis to destroy freedom while claiming to be "saving" the people.

The government WANTS bitcoin to be a disaster, and the mainstream media, which has so far refused to give bitcoin much attention, will leap all over the story like vultures once it crashes.

For the record, I'm a proponent of bitcoin and I want it to succeed in the long run, but the mania speculation happening with bitcoin right now is going to be disastrous for its reputation. It is the worst thing that could happen to bitcoin.

What we would prefer to see is a slow, steady rise that reflects stability with low volatility. Instead, we see extremely high volatility, wild price ranges, desperate purchasing patterns and even purchase queues at some exchanges where the demand for bitcoins is so high that it exceeds the limits of the services (such as Coinbase, where you now have to stand in line to buy bitcoins two days later at whatever "market" prices are offered that day).