Your average Joe is not buying in this Bitcoin Scam, only a hand full of Rich Whales are buying and selling...
And if your average Joe did buy any Bitcoin they will lose it all..
In 2023, the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3) received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency, such as bitcoin, ether, or tether. Estimated losses with a nexus to cryptocurrency totaled more than $5.6 billion.......Sep 9, 2024
You are a genius there Greg but I still don't trust Bitcoin cuz I have been a gold bug for 30 years and have done great $$$ in and out of Canadian stocks.
Keep up the great work cuz you have educated me big time...
It inherently lacks what's required to be true money. Money requires 3 components, stable store of value, medium of exchange, and unit of account.
While it might seem like a store of value, it inherently doesn't have value, its just a special type of number that may or may not have a more efficient means of calculation, and the system governing issuance for it can be changed by human hands.
If you delve into why its ballooned so far, you'll inevitably find that large amounts of USD leverage (debt) have pumped it up. In other words its tulip mania, and its backed by the USD, but what happens when the USD as a currency loses its store of value or status as a medium of exchange? So does Bitcoin.
As to when that might happen specifically, its anyone's educated guess. More than likely its when Adam Smith's requirements for producers to operate fail. That is debt growth exceeds GDP. Regular producers leave the market as they can no longer make a profit in purchasing power, and the only companies remaining are state-run apparatus which are propped up by the printing press, also called non-market socialism. To have a market you have to compete independently. The moment you have large players cooperating as an oligopoly indicates the consolidation and concentration predominantly found in non-markets. Non-market socialism fails, every time, and having stolen from the general public, there will be no trust or credibility in any new system.
To accept a system where everything is arbitrarily taken from you, where you have no agency or means to better your life, or know anything important. That is a system of enslavement, for not just the existing participants but also for their own children. Its one of the greatest evils, and good people shouldn't support evil but many sadly due through their blind complacency.
Default? No. But he will assist the Fed, just like last time, in VASTLY inflating the debt. The US is already in a technical debt default, and if it were not for the Fed making up the difference/gap regarding debts and deficits, we would already be in a Max Max scenario.
my theory was they needed trump back to collapse the system and then use trump to sell the sheep the new system which will be totally controlled and totally digital remember his biometric tracking system he talked about in 2016?
When push comes to shove, no one will be able to use any currency except government approved currency. Having gold, silver, Bitcoin will all be for naught. Not pessimistic. Just realistic.
Gregory, will it be a meltdown or a melt-up? My concern is that with Trump in, forces will work to hasten the crash that should have happened many times over in the last few years. But will it be a meltdown or a melt-up? What do you think?
Your average Joe is not buying in this Bitcoin Scam, only a hand full of Rich Whales are buying and selling...
And if your average Joe did buy any Bitcoin they will lose it all..
In 2023, the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3) received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency, such as bitcoin, ether, or tether. Estimated losses with a nexus to cryptocurrency totaled more than $5.6 billion.......Sep 9, 2024
Sheep are buying non ISO coins and that's rugull
Nice little dip in gold and silver.
Keep stacking!
I like your perspective! You are 100% correct IMO.
Is Bitcoin detached from any reality???
Sure... but so is everything else. WE RIDE THE WAVE.
You are a genius there Greg but I still don't trust Bitcoin cuz I have been a gold bug for 30 years and have done great $$$ in and out of Canadian stocks.
Keep up the great work cuz you have educated me big time...
Genius no, and I do not blame you or anyone for not trusting Bitcoin. The entire system is warped beyond belief.
I think Whitney Webb and Mark Goodwin have a good take on Bitcoin. https://rumble.com/v57ax99-the-bitcoin-us-dollar-hegemony-with-whitney-webb-and-mark-goodwin.html
Thanks for what you do Greg!
Yes, it is for several reasons.
It inherently lacks what's required to be true money. Money requires 3 components, stable store of value, medium of exchange, and unit of account.
While it might seem like a store of value, it inherently doesn't have value, its just a special type of number that may or may not have a more efficient means of calculation, and the system governing issuance for it can be changed by human hands.
If you delve into why its ballooned so far, you'll inevitably find that large amounts of USD leverage (debt) have pumped it up. In other words its tulip mania, and its backed by the USD, but what happens when the USD as a currency loses its store of value or status as a medium of exchange? So does Bitcoin.
As to when that might happen specifically, its anyone's educated guess. More than likely its when Adam Smith's requirements for producers to operate fail. That is debt growth exceeds GDP. Regular producers leave the market as they can no longer make a profit in purchasing power, and the only companies remaining are state-run apparatus which are propped up by the printing press, also called non-market socialism. To have a market you have to compete independently. The moment you have large players cooperating as an oligopoly indicates the consolidation and concentration predominantly found in non-markets. Non-market socialism fails, every time, and having stolen from the general public, there will be no trust or credibility in any new system.
To accept a system where everything is arbitrarily taken from you, where you have no agency or means to better your life, or know anything important. That is a system of enslavement, for not just the existing participants but also for their own children. Its one of the greatest evils, and good people shouldn't support evil but many sadly due through their blind complacency.
It's a Bitcoin president
I think Trump wants to default on the debt
Create a new central bank that is not the Fed
Any thoughts?
Default? No. But he will assist the Fed, just like last time, in VASTLY inflating the debt. The US is already in a technical debt default, and if it were not for the Fed making up the difference/gap regarding debts and deficits, we would already be in a Max Max scenario.
my theory was they needed trump back to collapse the system and then use trump to sell the sheep the new system which will be totally controlled and totally digital remember his biometric tracking system he talked about in 2016?
Agree a new system is here....blockchain
That is OUR HOPE, but scriptures tell us to not put faith in MAN…
Recall, Trump saying at his rallies the story of the snake: “you knew I was a snake when you took me in.”
Should I buy more Canadian gold and silver stocks???
The Trump Pump and Dump
Yeah select don’t mean Trump is president yet the markets are looking into the future FOMO is at play and besides I heard the crypto song before
When push comes to shove, no one will be able to use any currency except government approved currency. Having gold, silver, Bitcoin will all be for naught. Not pessimistic. Just realistic.
Tell it like it is Greg, legend! 👍
A gift...
...From the Almighty Creator....
The ultimate Financial Alamac.
.............. back to the future,
with love....
Including.....the Greatest Wall St event of the century....
😁👍🎶😂😎✨🍺
Dear conscience investors,
Yes you lot,
Greg's followers....
Loads of money 😂😂😂😂😂.
A request..
look after your locals.....with your whopping returns...😁
And Enjoy😆
A game hint.....
Eccentricity is beyond AI.
And the regular folk ,
Appreciate it.....
Become the banks....
Lions, Lions, Lions......
Not till after January 20. Economic catastrophes always happen under a Republican administration.
Gregory, will it be a meltdown or a melt-up? My concern is that with Trump in, forces will work to hasten the crash that should have happened many times over in the last few years. But will it be a meltdown or a melt-up? What do you think?
I agree 100%! Bet against he debt. Become your own central bank. Own physical silver.
Is the wealth transfer going to gold and silver???
Btc should have been 150 by now
Good morning Greg. Thank you for my Freedom.