If, as you say, the banks and the crypto bunch merge together then surely that is a clear signal that they mean to entice everyone into this digital system. They will then, instead of BTC being outwith their control it will be fully controlled by the government /Fed. By driving suckers into this crypto world they will entrap them. Otherwise why on earth would the Fed promote something that is in direct competition to the US dollar. Also, why are none of the big players buying BTC. They're all buying and stacking GOLD along with all the central banks. Not one is buying BTC. BTC is Not backed by anything, nothing, nowt, nada so it has no tangible value. It only value is derived from a garbage fiat currency that is losing value every day, and has been since Nixon took it off the gold standard. So far the US Dollar has lost 98.9% of its value. So please, tell me, like I am 5, as to how anyone can say BTC is a currency with value. I just don't get it. A bunch of letters and numbers all jumbled up together backed by absolutely nothing except some gezzer saying it is so, and everyone falling for it🤷🏻♂️ It's like the dot.com era with j-works all over again, as Alasdair Macleod pointed out earlier today. People are going mad buying anything straight into the biggest bubble in the history of the financial world, ever and it's going to go bang very shortly. Thousands of people are going to lose everything. They won't have the chance to log into their trading accounts because those in real control will shut off access to the "system" just like when the markets dropped not that long ago. Hundreds of people couldn't get access to their trading accounts. They couldn't log in for hours or longer. They just watched as stock etc fell and their was nothing they could do. It'll happen again, only this time it will be catastrophic for the masses. By the time they realise what is happening the elite will have cashed out hours ago and bolted for the safety of gold leaving a trail of destruction in their path. Those lucky to scrape through and salvage something before heading for the safety of the PMs will find gold at a price level that will stun them. Silver will be their only option left as all the garbage fiat currencies tank taking derivatives, crypto and BTC with them. Will Saylor buy gold?
The only people buying and selling bitcoin is a couple of thousand rich whales who own and control over 95% of bitcoin, your average Joe is not buying bitcoin.
I know and I am in contact with many many people and I don't know anybody (people) who own any bitcoin...
Sorry, that's factually untrue, or you need to expand your social net. I'm not a whale and I started investing in BTC this past year for diversification. You can buy it through ETFs now too if you don't want the hassle of setting up a wallet. I know many people who own some including some who mined it in the past, mining on a small scale isn't really practical anymore.
BTC takes ENERGY (just like Gold) to mine- LITERALLY ELECTRICITY driving millions of mining rigs operating 24-7 world wide to MAINTAIN the security/safety of the BTC BLOCKCHAIN/NETWORK. Mining BTC creates/maintains UNBREAKABLE ENCRYPTION of BTC's blockchain which creates a secure and accurate blockchain record of ALL BTC TRANSACATIONS EVERY MADE- FOREVER. No more than 21 million BTC can be produced EVER. 3-4 million BTC are permanently unretrievable=lost due to lost recovery keys/passwords, lost or broken devices on which
And the bang, the electricity goes off. The power lines are down, it's off for a while, meanwhile the economy crashes and you can't get out. Then what ya gonna do? What will you be left with? Nowt nothing, zilch, nada, nil. All those letters and numbers have vanished. Poof! Gone. Back into thin air, where they came from 👀
Your cash useless too, most likely gold and silver. I was at grocery, somebody crashed into power pole outside, with no power to their pos system the grocery refused to do ANY transactions, even cash. If power is down more than a few days your gold silver cash will be useless, shoveled will be emptied by owners, employees, then looters, then martial law in the case of an emp. Ok, I'm playing devils advocate here, as I believe in gold and silver and even have an ounce of platinum per Greg advice. But I believe in bitcoin more than ever.
If you’re from the government, then yes, “forever” is something you want. If you’re an average Joe, you want a shelf life to your transactions and privacy.
Jerome Powell was asked DIRECTLY in the last month if BTC competes DIRECTLY with the Dollar. His response was it competes DIRECTLY with physical gold as a store of value. This means it's DIGITAL GOLD. Just letting you know those words came out of Powell's mouth.
BTC is a store of value just like anything else can be a store of value. Let's start from the fundamental premise that nothing in the universe has intrinsic value. Gold, silver, whatever you want, they only have value because the people who transact in that "system" attribute value to those things. Other than that it's a shiny metal. Gold and silver have historically been stores of value because the supply is relatively limited, the authenticity can be verified, they are immutable in time and they are universally recognized. So they become a convenient reference against which to establish a price for anything. If BTC has unhackable encryption and is limited to 21M units it satisfies all the above conditions much better than gold (which is not technically limited, just difficult to get). If the electricity goes out, agreed, BTC may go to 0. But if the electricity goes out and you can't find drinking water how much are your bars of gold going to be worth? As long as we're in a digital world BTC is going to gain ground. If we regress into some primitive existence who knows what will have value... maybe guns and ammo so you can take what you need by force? In the end because nothing has intrinsic value it's probably best to diversify.
Point taken, and gold indeed has no value in aboriginal societies. As settled societies appeared, however, gold and silver began to take on an indispensable role as status symbol and portable wealth. See Silver Academy’s theory about silver as the foundation of the organized war state for one example. Another has to do with the decline and re-organization of the tribes in the British Isles who built Stonehenge after visitors bearing gold began to appear there. Gold’s appeal as an ornament seems to be universal and it’s physical density, malleability, rarity and difficulty to obtain make it ideally suited to be a status symbol and inherent wealth.
Besides it’s physical properties, one crucial difference between gold and Bitcoin is that BTC depends for its existence upon an elaborate and ever-changing technological infrastructure for its existence. It doesn’t exist on its own. It is only a by-product of the system that created it, and ceases to be when that system also ceases to be. It is only a derivative of the thoughts and technology of those who invented it, and could be driven out of existence should that system fail, be radically changed or be blocked by a hostile actor. Precious metals, on the other hand, can be dispersed, but neither fundamentally created nor destroyed.
Crypto does not, and cannot, stand on its own, as gold and silver can. Nor can it, itself, be displayed (only an image REPRESENTING it can ever be displayed), or be physically manipulated into objects that symbolize wealth or power. Gold and silver can be fashioned into jewelry, scepters or statues and shown to others to convey a message of rank or importance. Bitcoin cannot. I suppose competitors or overlords can go around flashing their cell phones with the contents of their digital wallets pulled up at each other, but that’s hardly the same. Nor could they, with state controlled or monitored digital currency, exchange their digital status with one another. But individuals with precious metal ornaments or objects (coins, small statues, etc.) could freely exchange them spontaneously and “on the streets” with nobody being the wiser.
Another crucial difference between metals and cryptos is that Bitcoin vanishes (or effectively vanishes, at least) when the technology stops working. The holder of Bitcoin (or crypto broadly) must also have the proper operating system in order to use it. One question I have that nobody I’ve read has answered, is what happens to crypto when operating systems change? Not just with minor upgrades (what if your cell phone or computer can’t even handle all of those over the years?), but with bigger wholesale changes, such as the jump from DOS and floppies, to Windows? Will there be no significant changes to operating systems in the future? Or will everyone with cryptos be required to purchase and use the new operating systems and follow procedures to shift their cryptos onto them
In order to access and use their currencies? 100 years from now, will the systems currently required to use cryptos, still be functional or, alternatively, will crypto all be shifted onto the new system?
I don’t know, but I think the odds are low that the status quo will remain long term, especially with quantum computing spooling up along with the desire for the social predators to manage every last detail of our lives. Chances are they’ll try desperately to force something like hand implants onto which they digitally download our digital currency ration every other month, in which case yes, crypto of a sort will function as a fiat currency. But freely held, personally controlled and voluntarily exchanged digits on a screen, outside of government control, will cease to exist. Even for the predators, who know better than to exchange things of real value (food, fuel, art work, talent) for anything ephemeral and existing only as a technological concept.
The predators didn’t get far in life by being stupid about wealth. I would bet more on following their example than on jumping into an idea that’s still very, very new in human history and whose origins are still mysterious.
Sure generally agree and I'm not suggesting to go all in to BTC. I think we can agree that all fiat currencies are issued by the "social predators" and they all eventually vanish into the dustbin of history. That's doesn't mean that you're not in some way obligated to transact with them (sorry - you are). As far as BTC goes, yes, who knows where it will be 20/50/100 years from now. But I'm convinced that for the foreseeable future (which isn't a very distant horizon) BTC will be a principal store of value asset, whether you like it or not. Ignore at your own peril.
Fair enough. But we’re not yet at the point at which everyone will be forced to transact in cryptos, and that may actually prove to be a longer and more difficult process to implement than it’s designers hoped for. And it’s too inherently unwieldy to work broadly for any prolonged length of time. It will fail, and THEN what? Gold and silver will then step up, as they always do. In the meantime, they will also play a role in the underground economy - again, as they always do - along with beans, booze and bullets.
I have no faith that, hard as they may try, the predators will ever stamp out the analog economy based on tangible goods. It’s likely to get very messy and difficult for a while, but those who have concrete items like gold with which to barter are likely to have a distinct advantage over those stuck entirely within the electronic web. A web which can only be woven with cryptos, NOT with metals, so why help the predators to weave that web in the first place by agreeing to hold on to a sticky strand with which they will later strangle you? What if we all simply ignored cryptos and stuck entirely with metals, instead? What if we all stopped patronizing businesses that refuse cash? We could, collectively, change “inevitable” to “no way”. With innovations like Goldback voluntary currencies and debit cards that run on gold and silver, tangible metals can be as easily spendable as cash. But with actual tangible backing and inherent accountability. So, why the need for cryptos in the first place? Who do they really benefit except speculators and predators? So why would any of us touch them unless abjectly forced, and why would anybody not hedge their risks of such a force event occurring with a stash of PM’s?
Gold and silver have never failed in 5,000 years. They are not failing today. They will not fail tomorrow, or in the forseeable future, or in 20/50/100 years. I therefore see no downsides to having some. On the other hand, I do see multiple downsides to cryptos, the most important one being that, FROM DAY 1, holding/using/accepting them normalizes and legitimizes the predatory end game which is to create the dependency/slave society. That is the opposite of how precious metals function. NO amount of cash gain or “convenience” gained from using cryptos at any point in the process prior to that, is worth being party to the future hell that the crypto developers are planning to use it for. So, I say, don’t touch the stuff no matter what! Fight it tooth and nail at every step, and refrain from
allowing intellectual arguments or appeals
To fear or greed sway your mind from the simple fact that cryptos are the sweet nectar that the carnivorous sundew big plant uses to trap us, the flies, into becoming their nourishment.
Well put, I remember when BTC was around 55K few years ago (after dropping from its ATH $69K), and Chase Bank opened up the ability for their wealthy clients (+$2 million or more accounts) to buy Bitcoin. What followed was the multi-year bear market. How many liquidated at losses then. Sneaky of Chase Bank to open up at that particular time.
My accountant of +40 years told me last year that bankers are not touching Bitcoin. Couldn’t tell me why, other than this “understanding” that they had…
I’m an accountant with 45 years experience. What is the value of the cryptos? A means to transact. If fiat goes away, commodities are not an easy way to transact in our fast paced society. Quite a few of my clients have been dabbling in it, primarily through Coinbase, but they’re doing it because they see the future without a means to transact, and they might be able to. No electricity? Then who gives a hoot because 90% of the population will be dead in 1 year. Our small investment in 2017 has paid off handsomely and we’re still in with profits taken to pay off all our debts. But, we are diversified all around too. There is risk in EVERYTHING, even those FERNs in your bank account through inflation theft. Opportunity is the game here with balance.
Yes this is true exactly how it will play out. However you are whistling in the wind because of the binary set up of human nature. people are either brainwashed or educated. You sir are educated and the brainwashed will never accept what you say do or prove. Like my grandpa used to say " we are born tabula rosa and then live life testa dura"
By participating in their crypto system, WE enable OUR OWN slavery. I don’t know why Greg keeps pushing this nonsense -you can’t buy shit with it, and when you want to cash out to buy something, you cash out into the same fiat paper currency AND pay tax on. Where’s the appeal here, that it will somehow “keep up with inflation”?
It’s a game, and once again, one THEY control.
Latest stats: 1.86% of all Bitcoin wallets control +95% of all Bitcoin. Dude, anyone playing this game is owned lock stock and barrel by THEM. At least the gold and silver is yours with ZERO counterparty risk.
Other than that, great article to keep us up to date. They’ll do another “pandemic” probably the CyberPandemic they’ve been advertising for the past few years. Zero-out cryptos or exchanges and have people line up for FedCoin…
The GREATEST tell in history is when the govt joins the party. Ever heard of Penn Central Railroad? Today it is known as Amtrak!
Back in the early to mid 1950 s Penn Central generated the largest single weekly payroll in the country! As you might imagine, railroading is a capital intensive business. Building rail bed and track, not to mention right-of-way easements can be expensive!
Matter-of-fact it required Penn Central to borrow huge amounts. So much so the indebtedness to the banks grew so large the banks were given the right to place their bankers on the board of directors.
It was THIS board of directors that approved the CONTINUED borrowings which eventually forced Penn Central into filing for bankruptcy.. Penn Central lasted until about 1970 when the US govt bailed them out.
What has the US gained financially since the bailout?
Penn Central is but ONE example! History is replete with examples which should teach us, as it did our founders, that the smaller the govt the better we all would be!
I was never a fan of BITCRAP nor a detractor.... up until it became POLITICIZED!!
Now I view "bitcoin" as a noose...a noose I won't put my neck in!!!
You can buy gold and silver with it from SD Bullion,, JM Bullion and others.. a car dealer did a tic toc , he accepted 50k worth of xrp for a car 2 weeks ago... no cashing onto fiat.. dealer said he's keeping it. If i was a wholesale used car dealer, I'd take his crypto for my inventory.. govt not involved if we all go for it!!!! Its coming brother. You may be worrying about a lightning strike, get caught in a game of musical chairs and will have to sit on a wheel barrow full of useless Bidenbucks. Lets face it, Biden destroyed the us dollar, I'd rather have bitcoin for sure
The only people buying and selling bitcoin is a couple of thousand rich whales who own and control over 95% of bitcoin, your average Joe is not buying bitcoin.
I know and I am in contact with many many people and I don't know anybody (people) who own any bitcoin...
PS/ (I don’t know why Greg keeps pushing this nonsense) Is Greg one of these rich whales?
Yes, and I knew one of those people: He literally lost his wife, kids, dog, house and cars in the scam (just like the lyrics of a Country song, except this guy lost his mansion not a mobile home!). I stay away from it so I can sleep at night!
( It is certainly possible that the Fed. Does intervene here and starts to buy more long-term debt so to push the long end of the yield curve lower, but we have no way to predict that.)
The US Fed has no real money like gold or silver, the Fed has fake money...
I remember as a kid hearing my Dad's wealthy business owner friend say in the early 90's, the rich get richer and the poor get poorer. I was just a kid and didn't get it at the time, now that I understand how money is created and the cantllion effect, I get it. This has been going on since Woodrow Wilson in his infinite stupidity and with his stroke it might have been his wife's decision, decided to doom the country by signing the Fed into creation.
I was not correcting you. I was laughing ruefully at the thought that the only woman in the White House aside from maids and cooks was setting national policy before having achieved the vote. That she did so in 1919 suggests she was a virago indeed.
I read someone state he needed money for war. The bank obliged but I guarantee they put the hard word or blackmail on him to get him to sign on the dotted line. He said Woodrow Wilson himself that he knew what the outcome would be and his regrets.
Greg, mentally project the future if the US government revalues their gold to $80,000 an ounce. Obviously no one will buy gold from the government, but the US will give $80,000 of their "funny money" for each oz. Try to formulate what this will do to inflation, interest rates, bonds, stock market, Silver, Bitcoin etc.
I agree 100% Greg. When the Central Banks pull out if the debt market, expect commodities to drop at fire-sale prices [ Temporarily ] then will move an Astronomical Unit.
It is clear the DOW fell* in a straight line 3000 points from the high @ 45.1K. Consider this the first wave I will call "A". The DOW has started a retracement, the question is is how far? Here is where Fibonacci is an excellent predictor. Using 3000X.382, X.5, and X618 the majority of the possibilities are 1146 points, 1500 points, and 1854. This will constitute wave B. According to the rule of alternation wave B should unfold in 3 waves(since wave A was straight line 1 wave) totaling the retracement amounts.
Next wave C should unfold equaling at least the amount of wave A and should do so in a five wave pattern. Use the A=3000x 1.382, X1.5, X1.618. Personally I think wave C will expand toward the larger multiplier. This will clean out the weak hands.
If as I expect wave C is 4500 or 4854 it will give the Fed the scenario to do what the Fed does, generate oodles of new debt to reliquify the markets creating the impetus for a blow-off top that lasts into the spring of 2026!
* The DJIA declined for over 10 consecutive days which has not happened since 1974!
You may be interested to follow this person on x, he shares some original forumulas that show that the market is now being managed by essentially nationalising UVIX.
He says this is what is allowing them to raise rates and for stocks to not get hit, because the illusion of low risk in the market is maintained by controlling the VIX.
I'd be very grateful if you could cast your eye over his formulas and perspective. I think it could help us all understand what the environment is likely to be going forward and what the risk level is.
You may want to in large the understanding of the Hebrew New Moon observance that Yeshua (Jesus) was referring to written by Matt 24:36 that the gentile church has so eloquently deceived the masses to believe this missed placed understanding. But I for warn you, you will first have to understand the Jewish Holy Days, the Jewish 7 year Shemitah cycles, the spring Holy Days birth of the messiah the fall Holy Days return of the messiah, the Hebrew calendar before that quote "no one knows the day or hour" can be understood in context. Matt 24:4 Take heed that no one deceives you.
Please remember Jesus said this before His resurrection:
Matthew 24:36 But of that day and hour knoweth no one, not even the angels of heaven, neither the Son, but the Father only.
Then after Jesus' ascension His Father revealed the Revelation to Jesus:
Revelation 1:1 The Revelation of Jesus Christ, which God gave him to show unto his servants, even the things which must shortly come to pass: and he sent and signified it by his angel unto his servant John;
Then Jesus told the church that those not watching that He will come as a thief which means those watching will know the hour:
Revelation 3:3 Remember therefore how thou hast received and didst hear; and keep it, and repent. If therefore thou shalt not watch, I will come as a thief, and thou shalt not know what hour I will come upon thee.
Why are there so many haters on here? IMO these are not lions but posers. If you don't like crypto why the fuck would anyone waste time commenting here? Unless you have an agenda. So shut up, move on, and go fuck urself in the face all day.
If, as you say, the banks and the crypto bunch merge together then surely that is a clear signal that they mean to entice everyone into this digital system. They will then, instead of BTC being outwith their control it will be fully controlled by the government /Fed. By driving suckers into this crypto world they will entrap them. Otherwise why on earth would the Fed promote something that is in direct competition to the US dollar. Also, why are none of the big players buying BTC. They're all buying and stacking GOLD along with all the central banks. Not one is buying BTC. BTC is Not backed by anything, nothing, nowt, nada so it has no tangible value. It only value is derived from a garbage fiat currency that is losing value every day, and has been since Nixon took it off the gold standard. So far the US Dollar has lost 98.9% of its value. So please, tell me, like I am 5, as to how anyone can say BTC is a currency with value. I just don't get it. A bunch of letters and numbers all jumbled up together backed by absolutely nothing except some gezzer saying it is so, and everyone falling for it🤷🏻♂️ It's like the dot.com era with j-works all over again, as Alasdair Macleod pointed out earlier today. People are going mad buying anything straight into the biggest bubble in the history of the financial world, ever and it's going to go bang very shortly. Thousands of people are going to lose everything. They won't have the chance to log into their trading accounts because those in real control will shut off access to the "system" just like when the markets dropped not that long ago. Hundreds of people couldn't get access to their trading accounts. They couldn't log in for hours or longer. They just watched as stock etc fell and their was nothing they could do. It'll happen again, only this time it will be catastrophic for the masses. By the time they realise what is happening the elite will have cashed out hours ago and bolted for the safety of gold leaving a trail of destruction in their path. Those lucky to scrape through and salvage something before heading for the safety of the PMs will find gold at a price level that will stun them. Silver will be their only option left as all the garbage fiat currencies tank taking derivatives, crypto and BTC with them. Will Saylor buy gold?
The only people buying and selling bitcoin is a couple of thousand rich whales who own and control over 95% of bitcoin, your average Joe is not buying bitcoin.
I know and I am in contact with many many people and I don't know anybody (people) who own any bitcoin...
Bitcoin Scam?
Americans lost $5.6 billion in cryptocurrency scams in 2023, according to a new report released by the FBI on Monday.Sep 9, 2024
(Can we believe anything the FIB says?)
You could buy the stock of the trading company COIN.
Sorry, that's factually untrue, or you need to expand your social net. I'm not a whale and I started investing in BTC this past year for diversification. You can buy it through ETFs now too if you don't want the hassle of setting up a wallet. I know many people who own some including some who mined it in the past, mining on a small scale isn't really practical anymore.
And where did I say that Bitcoin is owned by 100% whales?
You need to expand your social net!
98% of the posters here who pump up and say they own Bitcoin are full of BS..
BTC takes ENERGY (just like Gold) to mine- LITERALLY ELECTRICITY driving millions of mining rigs operating 24-7 world wide to MAINTAIN the security/safety of the BTC BLOCKCHAIN/NETWORK. Mining BTC creates/maintains UNBREAKABLE ENCRYPTION of BTC's blockchain which creates a secure and accurate blockchain record of ALL BTC TRANSACATIONS EVERY MADE- FOREVER. No more than 21 million BTC can be produced EVER. 3-4 million BTC are permanently unretrievable=lost due to lost recovery keys/passwords, lost or broken devices on which
BTC was stored in digital hot wallets.
And the bang, the electricity goes off. The power lines are down, it's off for a while, meanwhile the economy crashes and you can't get out. Then what ya gonna do? What will you be left with? Nowt nothing, zilch, nada, nil. All those letters and numbers have vanished. Poof! Gone. Back into thin air, where they came from 👀
Your cash useless too, most likely gold and silver. I was at grocery, somebody crashed into power pole outside, with no power to their pos system the grocery refused to do ANY transactions, even cash. If power is down more than a few days your gold silver cash will be useless, shoveled will be emptied by owners, employees, then looters, then martial law in the case of an emp. Ok, I'm playing devils advocate here, as I believe in gold and silver and even have an ounce of platinum per Greg advice. But I believe in bitcoin more than ever.
Is that a good thing.? "All BTC transactions ever made". Forever
If you’re from the government, then yes, “forever” is something you want. If you’re an average Joe, you want a shelf life to your transactions and privacy.
Jerome Powell was asked DIRECTLY in the last month if BTC competes DIRECTLY with the Dollar. His response was it competes DIRECTLY with physical gold as a store of value. This means it's DIGITAL GOLD. Just letting you know those words came out of Powell's mouth.
How is btc a store of value. What's it backed by? Who said it's value was 100k? It's a ponzi scheme
100% a Ponzi scheme and people are going to get crushed by it. Maddoff 2.0!!!!
BTC is a store of value just like anything else can be a store of value. Let's start from the fundamental premise that nothing in the universe has intrinsic value. Gold, silver, whatever you want, they only have value because the people who transact in that "system" attribute value to those things. Other than that it's a shiny metal. Gold and silver have historically been stores of value because the supply is relatively limited, the authenticity can be verified, they are immutable in time and they are universally recognized. So they become a convenient reference against which to establish a price for anything. If BTC has unhackable encryption and is limited to 21M units it satisfies all the above conditions much better than gold (which is not technically limited, just difficult to get). If the electricity goes out, agreed, BTC may go to 0. But if the electricity goes out and you can't find drinking water how much are your bars of gold going to be worth? As long as we're in a digital world BTC is going to gain ground. If we regress into some primitive existence who knows what will have value... maybe guns and ammo so you can take what you need by force? In the end because nothing has intrinsic value it's probably best to diversify.
Point taken, and gold indeed has no value in aboriginal societies. As settled societies appeared, however, gold and silver began to take on an indispensable role as status symbol and portable wealth. See Silver Academy’s theory about silver as the foundation of the organized war state for one example. Another has to do with the decline and re-organization of the tribes in the British Isles who built Stonehenge after visitors bearing gold began to appear there. Gold’s appeal as an ornament seems to be universal and it’s physical density, malleability, rarity and difficulty to obtain make it ideally suited to be a status symbol and inherent wealth.
Besides it’s physical properties, one crucial difference between gold and Bitcoin is that BTC depends for its existence upon an elaborate and ever-changing technological infrastructure for its existence. It doesn’t exist on its own. It is only a by-product of the system that created it, and ceases to be when that system also ceases to be. It is only a derivative of the thoughts and technology of those who invented it, and could be driven out of existence should that system fail, be radically changed or be blocked by a hostile actor. Precious metals, on the other hand, can be dispersed, but neither fundamentally created nor destroyed.
Crypto does not, and cannot, stand on its own, as gold and silver can. Nor can it, itself, be displayed (only an image REPRESENTING it can ever be displayed), or be physically manipulated into objects that symbolize wealth or power. Gold and silver can be fashioned into jewelry, scepters or statues and shown to others to convey a message of rank or importance. Bitcoin cannot. I suppose competitors or overlords can go around flashing their cell phones with the contents of their digital wallets pulled up at each other, but that’s hardly the same. Nor could they, with state controlled or monitored digital currency, exchange their digital status with one another. But individuals with precious metal ornaments or objects (coins, small statues, etc.) could freely exchange them spontaneously and “on the streets” with nobody being the wiser.
Another crucial difference between metals and cryptos is that Bitcoin vanishes (or effectively vanishes, at least) when the technology stops working. The holder of Bitcoin (or crypto broadly) must also have the proper operating system in order to use it. One question I have that nobody I’ve read has answered, is what happens to crypto when operating systems change? Not just with minor upgrades (what if your cell phone or computer can’t even handle all of those over the years?), but with bigger wholesale changes, such as the jump from DOS and floppies, to Windows? Will there be no significant changes to operating systems in the future? Or will everyone with cryptos be required to purchase and use the new operating systems and follow procedures to shift their cryptos onto them
In order to access and use their currencies? 100 years from now, will the systems currently required to use cryptos, still be functional or, alternatively, will crypto all be shifted onto the new system?
I don’t know, but I think the odds are low that the status quo will remain long term, especially with quantum computing spooling up along with the desire for the social predators to manage every last detail of our lives. Chances are they’ll try desperately to force something like hand implants onto which they digitally download our digital currency ration every other month, in which case yes, crypto of a sort will function as a fiat currency. But freely held, personally controlled and voluntarily exchanged digits on a screen, outside of government control, will cease to exist. Even for the predators, who know better than to exchange things of real value (food, fuel, art work, talent) for anything ephemeral and existing only as a technological concept.
The predators didn’t get far in life by being stupid about wealth. I would bet more on following their example than on jumping into an idea that’s still very, very new in human history and whose origins are still mysterious.
Sure generally agree and I'm not suggesting to go all in to BTC. I think we can agree that all fiat currencies are issued by the "social predators" and they all eventually vanish into the dustbin of history. That's doesn't mean that you're not in some way obligated to transact with them (sorry - you are). As far as BTC goes, yes, who knows where it will be 20/50/100 years from now. But I'm convinced that for the foreseeable future (which isn't a very distant horizon) BTC will be a principal store of value asset, whether you like it or not. Ignore at your own peril.
Fair enough. But we’re not yet at the point at which everyone will be forced to transact in cryptos, and that may actually prove to be a longer and more difficult process to implement than it’s designers hoped for. And it’s too inherently unwieldy to work broadly for any prolonged length of time. It will fail, and THEN what? Gold and silver will then step up, as they always do. In the meantime, they will also play a role in the underground economy - again, as they always do - along with beans, booze and bullets.
I have no faith that, hard as they may try, the predators will ever stamp out the analog economy based on tangible goods. It’s likely to get very messy and difficult for a while, but those who have concrete items like gold with which to barter are likely to have a distinct advantage over those stuck entirely within the electronic web. A web which can only be woven with cryptos, NOT with metals, so why help the predators to weave that web in the first place by agreeing to hold on to a sticky strand with which they will later strangle you? What if we all simply ignored cryptos and stuck entirely with metals, instead? What if we all stopped patronizing businesses that refuse cash? We could, collectively, change “inevitable” to “no way”. With innovations like Goldback voluntary currencies and debit cards that run on gold and silver, tangible metals can be as easily spendable as cash. But with actual tangible backing and inherent accountability. So, why the need for cryptos in the first place? Who do they really benefit except speculators and predators? So why would any of us touch them unless abjectly forced, and why would anybody not hedge their risks of such a force event occurring with a stash of PM’s?
Gold and silver have never failed in 5,000 years. They are not failing today. They will not fail tomorrow, or in the forseeable future, or in 20/50/100 years. I therefore see no downsides to having some. On the other hand, I do see multiple downsides to cryptos, the most important one being that, FROM DAY 1, holding/using/accepting them normalizes and legitimizes the predatory end game which is to create the dependency/slave society. That is the opposite of how precious metals function. NO amount of cash gain or “convenience” gained from using cryptos at any point in the process prior to that, is worth being party to the future hell that the crypto developers are planning to use it for. So, I say, don’t touch the stuff no matter what! Fight it tooth and nail at every step, and refrain from
allowing intellectual arguments or appeals
To fear or greed sway your mind from the simple fact that cryptos are the sweet nectar that the carnivorous sundew big plant uses to trap us, the flies, into becoming their nourishment.
Well put, I remember when BTC was around 55K few years ago (after dropping from its ATH $69K), and Chase Bank opened up the ability for their wealthy clients (+$2 million or more accounts) to buy Bitcoin. What followed was the multi-year bear market. How many liquidated at losses then. Sneaky of Chase Bank to open up at that particular time.
My accountant of +40 years told me last year that bankers are not touching Bitcoin. Couldn’t tell me why, other than this “understanding” that they had…
I’m an accountant with 45 years experience. What is the value of the cryptos? A means to transact. If fiat goes away, commodities are not an easy way to transact in our fast paced society. Quite a few of my clients have been dabbling in it, primarily through Coinbase, but they’re doing it because they see the future without a means to transact, and they might be able to. No electricity? Then who gives a hoot because 90% of the population will be dead in 1 year. Our small investment in 2017 has paid off handsomely and we’re still in with profits taken to pay off all our debts. But, we are diversified all around too. There is risk in EVERYTHING, even those FERNs in your bank account through inflation theft. Opportunity is the game here with balance.
Bulls freakin eye. 🎯💥
Yes this is true exactly how it will play out. However you are whistling in the wind because of the binary set up of human nature. people are either brainwashed or educated. You sir are educated and the brainwashed will never accept what you say do or prove. Like my grandpa used to say " we are born tabula rosa and then live life testa dura"
🎯. You nailed it
By participating in their crypto system, WE enable OUR OWN slavery. I don’t know why Greg keeps pushing this nonsense -you can’t buy shit with it, and when you want to cash out to buy something, you cash out into the same fiat paper currency AND pay tax on. Where’s the appeal here, that it will somehow “keep up with inflation”?
It’s a game, and once again, one THEY control.
Latest stats: 1.86% of all Bitcoin wallets control +95% of all Bitcoin. Dude, anyone playing this game is owned lock stock and barrel by THEM. At least the gold and silver is yours with ZERO counterparty risk.
Other than that, great article to keep us up to date. They’ll do another “pandemic” probably the CyberPandemic they’ve been advertising for the past few years. Zero-out cryptos or exchanges and have people line up for FedCoin…
The GREATEST tell in history is when the govt joins the party. Ever heard of Penn Central Railroad? Today it is known as Amtrak!
Back in the early to mid 1950 s Penn Central generated the largest single weekly payroll in the country! As you might imagine, railroading is a capital intensive business. Building rail bed and track, not to mention right-of-way easements can be expensive!
Matter-of-fact it required Penn Central to borrow huge amounts. So much so the indebtedness to the banks grew so large the banks were given the right to place their bankers on the board of directors.
It was THIS board of directors that approved the CONTINUED borrowings which eventually forced Penn Central into filing for bankruptcy.. Penn Central lasted until about 1970 when the US govt bailed them out.
What has the US gained financially since the bailout?
Amtrak Concedes Perpetual $1 Billion/Year Operating Losses
https://enotrans.org/article/amtrak-concedes-perpetual-1-billion-year-operating-losses/
Penn Central is but ONE example! History is replete with examples which should teach us, as it did our founders, that the smaller the govt the better we all would be!
I was never a fan of BITCRAP nor a detractor.... up until it became POLITICIZED!!
Now I view "bitcoin" as a noose...a noose I won't put my neck in!!!
You can buy gold and silver with it from SD Bullion,, JM Bullion and others.. a car dealer did a tic toc , he accepted 50k worth of xrp for a car 2 weeks ago... no cashing onto fiat.. dealer said he's keeping it. If i was a wholesale used car dealer, I'd take his crypto for my inventory.. govt not involved if we all go for it!!!! Its coming brother. You may be worrying about a lightning strike, get caught in a game of musical chairs and will have to sit on a wheel barrow full of useless Bidenbucks. Lets face it, Biden destroyed the us dollar, I'd rather have bitcoin for sure
The only people buying and selling bitcoin is a couple of thousand rich whales who own and control over 95% of bitcoin, your average Joe is not buying bitcoin.
I know and I am in contact with many many people and I don't know anybody (people) who own any bitcoin...
PS/ (I don’t know why Greg keeps pushing this nonsense) Is Greg one of these rich whales?
Bitcoin Scam?
Americans lost $5.6 billion in cryptocurrency scams in 2023, according to a new report released by the FBI on Monday.Sep 9, 2024
Yes, and I knew one of those people: He literally lost his wife, kids, dog, house and cars in the scam (just like the lyrics of a Country song, except this guy lost his mansion not a mobile home!). I stay away from it so I can sleep at night!
Hotel California: “You can check-out any time you like, but you can never leave!"
Bitcoin: "You can buy it any time you like, but you can never sell it"
Exactly! Plus, just read last week that supposedly the safest place "Coinbase" had "hacking through it's 'backdoor' " Wow! Surprised? Nope!
Does Greg know about this Coinbase hacking?
( It is certainly possible that the Fed. Does intervene here and starts to buy more long-term debt so to push the long end of the yield curve lower, but we have no way to predict that.)
The US Fed has no real money like gold or silver, the Fed has fake money...
Indeed.
And yet, they will own it all.
I remember as a kid hearing my Dad's wealthy business owner friend say in the early 90's, the rich get richer and the poor get poorer. I was just a kid and didn't get it at the time, now that I understand how money is created and the cantllion effect, I get it. This has been going on since Woodrow Wilson in his infinite stupidity and with his stroke it might have been his wife's decision, decided to doom the country by signing the Fed into creation.
His wife's decision? Hahahaha!
I stand corrected, Wilson signed the Fed into existence in 1913 (https://www.federalreservehistory.org/essays/federal-reserve-act-signed) and had his stroke in Oct. 1919. I stand by my assertion his wife was running the country after his stroke, this is established history. (https://allthatsinteresting.com/edith-wilson, https://www.historyandheadlines.com/first-lady-secretly-ran-u-s-government/) I suspect it will come out that I real president for the last 4 years is Jill.
I was not correcting you. I was laughing ruefully at the thought that the only woman in the White House aside from maids and cooks was setting national policy before having achieved the vote. That she did so in 1919 suggests she was a virago indeed.
I read someone state he needed money for war. The bank obliged but I guarantee they put the hard word or blackmail on him to get him to sign on the dotted line. He said Woodrow Wilson himself that he knew what the outcome would be and his regrets.
Really they were just looking for the right name to call it Woody just the fall guy
Pull out of fictitious paper assets and crypto currencies.
Crash the system before it implodes!
The new BRICs system will be gold backed, regulated and based on physical production like the 1944 Bretton Woods system. No more fake money printing.
--Paul Revere.
Greg, mentally project the future if the US government revalues their gold to $80,000 an ounce. Obviously no one will buy gold from the government, but the US will give $80,000 of their "funny money" for each oz. Try to formulate what this will do to inflation, interest rates, bonds, stock market, Silver, Bitcoin etc.
'THE TRIPLE THREAT'......
Is what I call the three people, in the 'Financial Sphere', who I trust, because they see the WHOLE Picture (aka REALITY)!!
And they are......
1. Greg Mannarino
2. Catherine Austin Fitts
3. John Perez
A little 'Weekend Reading' (videos).......
Here is John Perez; this video is from about a year ago......
2/21/2024 Decentralize TV: Mike Adams and co-host Todd Pitner ft. John Perez
https://www.brighteon.com/6dc91744-079a-41b5-87c5-1e53e0ec5672
Recent vids (all are under 5 mins) from CAF/Solari Report.......
The Plans for a Bitcoin Strategic Fund—Use Pension Funds to Buy BTC—Are Disgusting
https://rumble.com/v606sjb-the-plans-for-a-bitcoin-strategic-funduse-pension-funds-to-buy-btcare-disgu.html?playlist_id=N7ENgWUd7jU
If You Have Not Read This Book, You Will Never Understand Bitcoin
https://rumble.com/v606reh-if-you-have-not-read-this-book-you-will-never-understand-bitcoin.html?playlist_id=N7ENgWUd7jU
BTC got Manipulated through Control over the Software by the Core Developers
https://rumble.com/v606xeq-btc-got-manipulated-through-control-over-the-software-by-the-core-developer.html?playlist_id=N7ENgWUd7jU
Do You Really Think the Biggest Financial Powers in the World Did Not Meddle with Bitcoin?
https://rumble.com/v60700w-do-you-really-think-the-biggest-financial-powers-in-the-world-did-not-meddl.html?playlist_id=N7ENgWUd7jU
There Is No Longer Any Evidence That BTC Is a Pro-Freedom Technology
https://rumble.com/v6070y8-there-is-no-longer-any-evidence-that-btc-is-a-pro-freedom-technology.html?playlist_id=N7ENgWUd7jU
Peter Thiel Is Telling You that BTC Was Hijacked
https://rumble.com/v607368-peter-thiel-is-telling-you-that-btc-was-hijacked.html?playlist_id=N7ENgWUd7jU
The Bitcoin Strategic Reserve Fund Is about a Land Grab, and This Book Endangers to That
https://rumble.com/v6075zh-the-bitcoin-strategic-reserve-fund-is-about-a-land-grab-and-this-book-endan.html?playlist_id=N7ENgWUd7jU
BTC Is Part of The Financial Armegedon That Is Inevitable
https://rumble.com/v6076vk-btc-part-of-financial-armegeddon.html?playlist_id=N7ENgWUd7jU
Add Chris Martenson to the list. Also, David Webb’s book, The Great Taking, details all.
But God............
I agree 100% Greg. When the Central Banks pull out if the debt market, expect commodities to drop at fire-sale prices [ Temporarily ] then will move an Astronomical Unit.
FWIW Markets move in three waves unless they don't. I will use the DJIA to anticipate what is transpiring.
https://stockcharts.com/freecharts/gallery.html?$INDU
It is clear the DOW fell* in a straight line 3000 points from the high @ 45.1K. Consider this the first wave I will call "A". The DOW has started a retracement, the question is is how far? Here is where Fibonacci is an excellent predictor. Using 3000X.382, X.5, and X618 the majority of the possibilities are 1146 points, 1500 points, and 1854. This will constitute wave B. According to the rule of alternation wave B should unfold in 3 waves(since wave A was straight line 1 wave) totaling the retracement amounts.
Next wave C should unfold equaling at least the amount of wave A and should do so in a five wave pattern. Use the A=3000x 1.382, X1.5, X1.618. Personally I think wave C will expand toward the larger multiplier. This will clean out the weak hands.
If as I expect wave C is 4500 or 4854 it will give the Fed the scenario to do what the Fed does, generate oodles of new debt to reliquify the markets creating the impetus for a blow-off top that lasts into the spring of 2026!
* The DJIA declined for over 10 consecutive days which has not happened since 1974!
Hi Greg,
You may be interested to follow this person on x, he shares some original forumulas that show that the market is now being managed by essentially nationalising UVIX.
He says this is what is allowing them to raise rates and for stocks to not get hit, because the illusion of low risk in the market is maintained by controlling the VIX.
I'd be very grateful if you could cast your eye over his formulas and perspective. I think it could help us all understand what the environment is likely to be going forward and what the risk level is.
These are the formula's he uses in tradingview https://x.com/frankoz95967943/status/1621295439076278272
Wishing you the best new year and I hope everything works out with your dog ✌️
Cheers
WEF WITH EVERYONE FUCKED WE CAN HAVE TOTAL CONTROL!
Take a look at the agendas they have planned possibly before the end of January 2025:
https://rumble.com/v63hxx8-king-charles-signs-wef-treaty-authorizing-one-world-government-media-blacko.html?e9s=src_v1_ucp
https://rumble.com/v629ry2-area-51-insider-fake-alien-invasion-will-usher-in-one-world-government-in-2.html?e9s=src_v1_ucp
https://rumble.com/v5ze10k-bill-gates-admits-disease-x-is-elites-final-solution-for-a-new-world-order.html?e9s=src_v1_ucp
Is it any wonder why we are in the 4th year of this timeline?:
https://sumofthyword.com/2016/10/04/the-rapture-of-the-church-is-after-the-tribulation/
No one, except God Himself has the timeline. To think we do or that somehow we can “forecast” His coming is hubris of the highest order.
Everything else in your post was 👍
You may want to in large the understanding of the Hebrew New Moon observance that Yeshua (Jesus) was referring to written by Matt 24:36 that the gentile church has so eloquently deceived the masses to believe this missed placed understanding. But I for warn you, you will first have to understand the Jewish Holy Days, the Jewish 7 year Shemitah cycles, the spring Holy Days birth of the messiah the fall Holy Days return of the messiah, the Hebrew calendar before that quote "no one knows the day or hour" can be understood in context. Matt 24:4 Take heed that no one deceives you.
Please remember Jesus said this before His resurrection:
Matthew 24:36 But of that day and hour knoweth no one, not even the angels of heaven, neither the Son, but the Father only.
Then after Jesus' ascension His Father revealed the Revelation to Jesus:
Revelation 1:1 The Revelation of Jesus Christ, which God gave him to show unto his servants, even the things which must shortly come to pass: and he sent and signified it by his angel unto his servant John;
Then Jesus told the church that those not watching that He will come as a thief which means those watching will know the hour:
Revelation 3:3 Remember therefore how thou hast received and didst hear; and keep it, and repent. If therefore thou shalt not watch, I will come as a thief, and thou shalt not know what hour I will come upon thee.
Why are there so many haters on here? IMO these are not lions but posers. If you don't like crypto why the fuck would anyone waste time commenting here? Unless you have an agenda. So shut up, move on, and go fuck urself in the face all day.
Bail-Ins coming read the creature from jekyll island
Buy more gold and silver COIN now!