**CAF Note: Hey, if Mr. Global announced he wanted to get people into a fiat currency without deposit insurance because he wanted to shift to a digital global currency, everyone would be outraged, no? But voila, now we have a grassroots movement. No fractional reserve, no deposit insurance, means more leverage than derivatives, this one. Just remember, he who controls the cable and the satellite, controls”**
By Nathaniel Popper
The virtual currency bitcoin took a big step toward the mainstream on Monday as federal authorities signaled their willingness to accept it as a legitimate payment alternative.
A number of federal officials told a Senate hearing that such financial networks offered real benefits for the financial system even as they acknowledged that new forms of digital money had provided avenues for money laundering and illegal activity.
