Is the rise of cryptocurrency foretelling of an upcoming global financial meltdown?
In a recent article, I had discussed the fact that I believe people are not as stupid as world central banks believe they are. World central banks are stuck in a very bad spot, because they have no alternative but to continue to inflate the already gargantuan debt bubble.
In truth, the world central bank issued credit card is maxed out, Yet world central banks continue to flood the world with more debt, why? Because they have no alternative, it is the nature of the beast.
By and large the general population does not even understand the basic nature of the debt based economic model.
All of the worlds modern economies, under the control of their respective central bank, has a debt based economic model.
A debt based economic model demands that cash be stolen from the future or "borrowed into existence" in greater and greater amounts just to support where we are at the present time. At the moment we cannot borrow anymore, a "debt crisis" ensues, then we face the possibility of a complete meltdown of the current debt based model.
It is quite possible that the rise of cryptocurrency is foretelling of this event, A critical failure of the debt-based model.
It is already very clear that world central banks colluding with the Wall Street banks will not allow a real market with regard to the price action of physical gold and silver. These institutions have been using and manipulating derivatives to keep the price action of the physical precious metals suppressed. Understand, there is no real market, no actual price discovery mechanism whatsoever behind the price action of physical gold and physical silver at this time because of manipulation going on in the derivative markets.
Hence again, the move toward an asset which cannot be manipulated by world central banks or Wall Street banks-cryptocurrency.
The decentralized nature cryptocurrency makes it nearly impossible for any one entity to manipulate the price action of these assets. While it is true that some thinly traded cryptocurrencies can experience large and sudden swings in its price action, this is more likely due to a large buyer or seller of the asset, and not any explicit manipulation.
In my opinion the rise of cryptocurrency is in fact flashing a warning sign, loud and clear, that the current debt based economic model may be about to melt-down...
Gregory Mannarino
The "Upcoming Global Financial Meltdown" is certainly the main reason that I came in to crypto currencies.
Nowhere Left to Hide
https://steemit.com/poetry/@onceuponatime/nowhere-left-to-hide
Imagine paying with a 50 Trillion USD bill for a coffee......
Nice roll of toilet paper you got there!
Sad thing is, a roll of toilet paper would be worth more, who'd wanna wipe their ass with filthy money. LOL
I'm going to see if I can get one of those from Ebay...would be nice to say I'm a trillionaire!!!
Just hang on, when inflation hits you'll have US trillion dollar bills in your possession.
LOL!!
Pocket Change is the "Other" hard asset... Common Coinage seems to be over-looked by everyone... Let's see how Steemit Currency does...
sounds about right
So true! most of the people that I have converted into crypto now prefer to keep their extra savings from their job in crypto currency instead of a savings account.
Sounds risky but we are voting with our wallets and we are fed up of this corrupt system that has caused so much death, destruction and poverty for the masses.
Another good option is with Goldmoney. Can preserve wealth in gold and buy your starbucks with a prepaid account backed in gold. Good to spread out your savinga.
I'll second that. I am a huge Goldmoney fan. I don't use the card since it is always a 1% fee to fund it (sell gold from your account to make $). I like the feature that you can pay other Goldmoney members directly in gold. Though, I'm not sure that feature has yet been approved in the authoritarian US.
Interesting. Ill have to check that out
It may be very wise to put a little savings into Common (Pocket Change) Coinage... For one thing, it will be outside of the Banking System when all Hell breaks loose... LIttle risk in holding a little Pocket Change...
Absolutely!
First and foremost I am an advocate of holding tangible assets. I would recommend anybody looking to remove themselves or de risk from the banking system to be holding silver coins at first.
Crypto is further down my list but the more I research into it is becoming a very important asset not only for banking protection but venture capital. There are some incredible projects out there and literally anybody from any country on the planet can get in an own a slice of the potential.
I'm absolutely open to the thought of Bitcoins and other CryptoCurrencies... To me, Pocket Change is the other Hard Asset that should be given a little thought...
Agree. I always put away my pocket change. Also I keep copper cents before 1982. Who knows.
Buy a roll of silver dimes, quarters or halves every month too.
Yes... I love 90% Silver Coins also... However, they will be worth "so much" after the crash that people will be forced to use ordinary coinage with no silver content as a handy Medium of Exchange... It won't be the metal content of the Pocket Change, just like it's not the Paper value of our existing Fiat Currency...
You are very wise.
The pump in cryptocurrencies is also a result of investors having the fear of missed opportunities. I don't blame them.
That sounds like me! trouble is, most times I fear of missing out, I plough into something and lose money :-(
How about pumping a few fiat dollars into common Pocket Change...???
I really don't think so because we have been hearing these same arguments for silver and gold since I can remember. I believe it is a global shift to a free market currency solution. People are waking up to new possibilities.
The banksters will never tolerate a free market currency - I wouldn't be surprised if they are behind the creation of crypto's - as a trial run for their next global 1 currency takeover!
How about waking up to a small jar of Pocket Change...???
Great article Greg. It will be interesting to see how things shake out with all of the cryptocurrency over the net few years. Jerry (jbcoin)
I want to hear you shake your jar of Pocket Change ... It can't hurt to have some of the "other" hard asset outside of the Banking System...
pocketechange, I'm a metal detectorist. I believe that my jar of pocket change will shake a little louder than most (5 gallon buckets) haha. I believe in gold, silver, common coins, and any other hard commodity that you will need to use in the future, to make your life better. You should buy today's quality at today's price, with a devalued dollar, and squirrel your things away. jbcoin
Thanks for your input... I like the sound of your 5 gallon buckets... You're on track to making it to the other side of the re-set... Pocket Change...
Hi Greg
Can you do an article on which cryptos you think make good investments and which to avoid?
Perhaps the United States will come up with Crypto Dollars to replace the Federal Reserve Debt Notes... Let's say it will take 100 Federal Reserve Debt Notes or One Dollar in U.S. Coins to buy one of the New Crypto Dollars...
Pocket can you explain the difference in value from a FRN and a U.S. coin minted by the U.S. Treasury Department?
It's my belief that Federal Reserve Notes are Debt based and Common Coinage are Debt Free... When the Crash happens, would rather be holding Debt Notes or Debt Free Coins...???
Got it thanks
I think your right bitcoin sure has sky rocketed in the past three months. Stock market is to hard to predict anymore. Thats proof that its not real and will crash. Thanks for your everday info
Bitcoin is rising from countries who have seen currencies collapsed before. The west is selling gold while the China and India are buying it up. Difference is that bitcoin cannot be suppressed while gold is manipulated.
If you could print money out of thin air, wouldn't you be buying up as much Stock as possible...??? Real assets are where it's at... Also keep in mind that Pocket Change is better than Paper and Digital dollars in the Bank...
Yep it is coming and MSM will tell you it is a great buying opportunity for stocks. :-((
Buying Stocks is better than holding the same amount of fiat money in the Banks... It's also a good idea to hold as much Pocket Change as possible outside the Banking System...
Bye bye to your money!
this could be an epic fight between good and evil. but crypto is (do not forget) a huge step to a cashless society... that's why pm's are so important. cryptos for the brain and metals for the body.
I was at a store during a Power Outage... You may be wise to have a little Pocket Change on hand... I don't like the thought of a Cashless Society...
It's cashless, but theirs no mark of the beast, your your own beast !
it definitely might , i wonder who is behind this amount of cash flowing in. I can't imagine this are all just people.
Yeah, I have to think institutions are jumping on this as well.
I wish I had the power to print dollars out of thin air and buy Crypto Currencies... Since I can't do that, I do feel that it's wise to hold onto as much Pocket Change as possible, since we'll need a "Medium of Exchange" when the Paper and Digital Dollars fail...
Buy Silver and Crypto!!!
Right on!
Yes I agree!!!!
Let's not forget the other hard asset... "Pocket Change"...
How many bitcoin units exist, Greg?
Currently 16,323,875 out of 21,000,000 . However, there's a shed load that have gone missing!!!
Gone missing??
in the very beginning people like myself didn't think much of them, i had over 5000 at one point, i currently only own 3Btc....fml :)
Makes me wonder how much Pocket Change exists...
Let the fireworks begin...
Cute 👍
I am amazed they have held this together this long, I thought it was going to unravel years ago. Maybe we are now close to the collapse. I guess we wait and see.
If you think the collapse is near, you better get your hands on some Pocket Change... It's the overlooked hard asset... And you'll be holding it outside of the Banking System... If you're not holding it, you're not owning it...
LOL 😂 that's awesome 🤝
"Gold is money, everything else is credit." - J.P. Morgan. Acquire physical gold and silver, move more assets into crypto currency, limit your exposure to fiat currency.
Wise words.
🤝
We all know Federal Reserve Notes represent Debt... Spend a few moments considering Common Pocket Change... When the Debt Notes fail, we'll still need a Medium of Exchange until the New Debt and Interest Free Dollars are Printed...
If you can manage it, let that pocket change be pre '65 silver quarters and dimes and you're covering two bases.
I agree that Silver Coins are better, but will be too valuable to be used as a Medium of Exchange... Silver can be turned into Pocket Change...
Henry Ford once said these famous words:
It's now about 100 years later and most people still don't understand how our banking and monetary system works. Maybe the next recession will finally open their eyes when they see their friends run into cryptocurrencies for safety. We'll see...
How many people turn in their Pocket Change without giving it a second thought...???
Great article Greg. Been keeping abreast with your sound words of advice. Thank you.
Yes... Gregory has your back, but do consider holding onto some common Pocket Change... If nothing else, you'll have some cash outside of the Banking System... Don't worry about losing a little interest because the Banks aren't even giving you much interest to speak of...
Thank you my friend. I have your back.
I am new to this whole Cyrptocurrency realm. But from what I can see so far is that this is the way we will be heading in mass droves in the coming years. Excellent article and as always you are the man! DR
Congratulations @marketreport!
Your post was mentioned in my hit parade in the following category:
At Present, our Common Coinage is tied to the Paper and Digital Fiat Dollar... I believe the day is coming that our Pocket Change will break free from the Fiat Dollar and regain its lost buying power... I figure the buying power of common coinage will increase a hundred fold...
Why?
I totally agree, Greg. The point is, when all the manipulation is over the price action of physical precious metal could be very very interesting especially silver!
i can't wait to see what happens to Silver, but also don't over-look Pocket Change when it increases in value by one hundred fold...
Agreed. It's hard to understand how the majority of people don't understand this, as well as those who prefer not to. Ignorance may be bliss, but is temporary until you lose the majority of your wealth. Always hedge and protect yourself. (Learned this from your videos Greg.) Thank you
Also give Pocket Change some thought... I think Common Coinage will once again reach "Fair Market Value"...
Totally agree, i cant wait till precious metals reach their real price, http://www.usdebtclock.org/
You'll find the prices on the bottom right once you click the link
-Gold - $7,321/ounce
-Silver - $886 /ounce
The prices you list above are in what will be the Failed Dollars... You can't base gold and silver with those dollars... Just keep track of the "weight" in gold and silver, and forget what they're worth in Fiat Play Dollars... One more note... Consider getting your hands on some Pocket Change while the Banks are still giving you one hundred cents for a Paper or Digital Fiat Dollar...
Spot on Greg. Our monetary system is nothing more than a confidence game, and the rise of crypto is spelling the decline in confidence in the fiat system.
I wouldn't mind having some crypto currency, but I prefer to play it safe and hold onto some Common (Pocket Change) Coinage... It's the overlooked hard asset...
You mean like a lot of change, or junk silver?
I like the so called Junk Silver... But the fact that it's 90% silver is going to make it too valuable to use as a circulating medium of exchange... Yes, you'll be able to turn it in for large amounts of Pocket Change that will be very useful as a Medium of Exchange...
Totally agree I hold PMs. Both in bar form and junk form.
Just common coinage... Don't get me wrong... I love Junk Silver too... But for those who can't afford Silver, I try to let people focus on holding onto their Pocket Change... Thanks for your reply...
Good strategy to start out. Thanks.
Agreed.
Greg I want to thank you for sharing your trades and advice. I find your videos very interesting. You are the first and only pro trader, I found on youtube sharing your trades without asking for anything in return, still not sure why you do it but thanks. I don't trade stocks, but I am a silver and gold stacker and buy and sell crytocurrencies all the time. Thanks again
Do yourself a favor and stack a little Pocket Change outside of the Banking System... It won't hurt... Think about it...
Greg I agree but I believe that at some point they will lose control of the manipulation of the precious metals market. Just hope is in my life span :)
I love Gold and Silver, but I still hold onto some Pocket Change... I consider it to be the other hard asset...
Why? How you view FRN vs coins? Why do you think that FRN will be revalue against coins?
I think the Federal Reserve "Debt" Notes will Crash... We will still need a useful Medium of Exchange... Our Common Coinage is already in place and people actually have more of it than they have gold or silver... I think the Banks won't have Paper to give you at this point... If you're lucky, you "might" be able to turn in your Paper Federal Reserve Notes into the Banks and receive one Cent for each dollars worth of Federal Reserve Notes... A Hundred Dollar Bill might get you a One Dollar Coin...
Perhaps so but with The UN purportedly wanting to use Ethereum in Jordan to help starving people, under the guise, all the money gets to the desired recipient. Sounds all very laudable, but it is the powers that be gradually introducing cashless society. When they have us cashless we are under their control. Are Cryptocurrencies really 'freedom'?
Stay free from their control by holding onto a little Pocket Change... It's the other hard asset that's being over-looked by most everyone...
@Marketreport once the manipulation of precious metals comes to an end, what will become of the big banks stock piles of silver ? Is it more likely a confiscation of the peoples precious metals over the banks? What do you think?
The Banks are also holding onto most of our Pocket Change... I figure for every Fiat Dollar they're holding for you, they'll probably give you a penny for each... That's if you're lucky... It may take two fiat dollars to get a penny back from the Banks...
Cryptocurrency is another form of currency, I do not see it as a investment but medium of exchange. Like any currency you can trade them to make quick profit, but I do not advise anyone to keep large amount of their savings in bitcoin.
Great advice... I like holding onto some good old fashioned Pocket Change myself... I don't think it would hurt to hold a little Common Coinage outside the Banking System...
I love the fact that the elites cant manipulate crypto currency like they do with the toilet paper we call the dollar
I could be wrong, but I think our Pocket Change is Debt Free, unlike the Federal Reserve Notes we carry around in our Wallets...
The digital nature of cryptocurrency is a weakness only in that it relies on an under governed computer network. When the debt based model breaks down, there will be a scramble to gain control. We will need to establish leverage to keep the networks safe from greedy hands. My strategy is to stay small and keep a healthy source of hard assets, but I realize that I am in a micro-economic situation. Currency is a macro-economic topic.
Interesting times. Greg, do you think there will be a pull back in bitcoin or if this is the start of the crash could it be going skyward for a while? I know if a buy more it will pullback :)
If you're afraid of a pullback, consider getting in on the Ground Floor of Common Pocket Change... You can still get 20 Nickels for a Fiat Dollar... It doesn't have to be Nickels... Any common coinage will be good...
I believe this to be true as well as silver and gold. In 2007 when silver and gold went to their lows, the stock market then followed.
The price of common coinage up to now has been inflation free, except for the metal content... Think about holding onto some Pocket Change...
It is concerning that the popularity of crypocurrencies is rising. I don't know yet why they are, but not every crypto can survive, and it seems to easy right now to creat them. At some point, the proliferation of so many crypto currencies will hurt them all.
Hopefully steem stays.
That's another reason to hold onto some Pocket Change...
This all may very well be true. We all know a melt down is bound to happen. I'm now "diversifying" with crypto's but them not being in hand and my learning curve on the end's and out's of how to actually use them is still a factor I'll have to get used to until I'm not so ignorant. Their rise shows a lack of confidence in my opinion. We shall see, at some point, how this all plays out. In the mean time I'm learning all I can.
Give a little thought to Pocket Change as well... It's the other hard asset that seems to be over-looked by most people...
Sadly, in Europe it's really not that easy to trade/buy crypto. There are still lots of legality concerns, tax issues and so on... Bitcoin has "darknet, tax evasion, drugs" etc attached to it...
I've not had a problem. Mind you, I've only bought the 'mainstream' crypto's. I'm based in UK but know its big in Scandinavian countries...
I'm rather new to this - I think here in Germany there are stricter regulations - still trying to find out what's the best way to go...
Have you considered holding onto some Pocket Change...???
I like common Pocket Change... I consider it to be the other hard asset...
Believe me I live in Mexico and here is way more difficult for sure! hehe =( I just find one exchange to buy BITCOIN & ETH only: bitso.com
this blockchain & crytocurrency tech is just beginning... Very curious how all this will unveils in the future...
Determined to learn...but this is how i feel.
Looks like the market is about to enter or has entered a distribution phase. Smart Money is building in big short positions.
Im feeling a bit confused. What happens to cryptocurrenies if there is an extended internet or power outage? Is this another social contract like paper money? Not trying to be daft, just trying to grasp the concept.
9:17 cmt and the dow is already down 125 poitns. Bitcoin almost hit 1900. Today may be the start of a change.
I'm sure the Paper and Digital Fiat Debt Notes will fail... That's why I want to keep a little Pocket Change outside of the Banking System...
Hey Pocket, I see you are big on nickels, dimes and quarters. What do you think is a good amount to keep on hand
Since that Banks pay next to nothing in interest and you're at risk even keeping cash in the banks, what do you have to lose by holding onto all your Pocket Change...??? It's cash outside the Banking System when Cash will be hard to come by... I consider Pocket Change to be the "OTHER" hard asset...
Great interview last night with rtd, thanks for all that you do!
I watch all of Gregory's Videos... I can't wait for the day he says a few words about Pocket Change"... lol...
hey pocket i'm going to give you an up vote on that one
Thanks CullyGuy... I'm new at this and I'm still waiting for to see my first penny appear on my Steemit account...
That should help 😉
Hey Greg where do you recommend getting buying bitcoin from? I can't seem to find a reliable source? Thanks bro!
Forbideninfo I personally use the Gemini exchange to buy Bitcoin. I been using it since Jan 2017 no problems at all just remember never to leave your bitcoins in the exchange.
I missed the live session. Damn. Another feature to rival FB and Youtube. I expected someone to monetize for the end user, but with cryptocurrency! Genius.
Greg Crypto is overtaking Crimo - No?
Things that happening in the global financial system is exciting and scary, its sad that lots of people aren't waking up but to those who are aware this is an opportunity.
Bitcoin is just another tool of the banking elite. If it wasn't it would have been shut down a long time ago. Another step towards globalism and control. Bill Gates says "Bitcoin is Unstoppable" and everything he supports stinks to high hell. They want everyone to jump on to cryptocurrencies, backed by nothing, and to stay the hell away from real money (Gold and Silver). I won't give them the satisfaction.
Totally Agree with you!!!!! But one thing they still have in control and that is Control of Internet..... if you know that now control of internet is hand over to UN? Yes, USA has given its powe gun of internet to UN. Which means control on all Rebels will be handled by respective countries under the umbrella of UN. Also, what if 1 day shut down of internet in whole world? Even 1 day is enough to ruin businesses... lets see how things roll in coming time
TRUE INDEED! VERY OMINOUS MOVE FROM OBAMA WHEN HE HANDED OVER INTERNET TO UN!! An Estrategic "weapon" that was freely given to the UN... it´s like if in 1945 we had deliver nuclear tech to Europe and other countries! it makes NO sense really... let wait & see what the future show us....
Big Guns created internet but now they were disturbed and confused due yo the awareness in world through their own medium (internet). Media spread lies and people were getting real ingo. through youtube channels and blogs etc. of black budgets of Governments and false flags... so in order to crush this... Obama Administration handed over Internet to UN. So that individual country can take action against rebels who speak truth... Very sharp and clever move.. and all under UN Umbrella..
We will soon know the consequences of this "clever" move...
Its very important to know the guys behind this whole mess in world and more important is to know what their agenda??? Well.. their agenda is from ancient time to have whole control of humanity!!!! with 1 World Government!!!!
VERY TRUE @hellogelt83. As a christian myself I know very well why & how this gonna end. God bless.
Its always good to have information.. God Bless!
I think Pocket Change is free from Internet Control... Think about that for a day or two...
Well dude.. so far we all are free... but we can not deny the reality!!!
If you can't hold Gold or Silver, I think the next best thing is to hold onto all your Pocket Change... After the Fiat Paper fails, we'll still need a handy Medium of Exchange and I think Pocket Change fills that need...
If not Gold.. then Silver is good option...!!!!! Way cheaper comparing to Gold and with tremendous future..
I have lots of Gold and Plenty of Silver, but I'm still holding onto all my Pocket Change... It's not about the metal content, just like it's not about the Paper value in our Currency... It's about having a Medium of Exchange when the Paper and Digital Fiat crashes to next to Zero Value...
Many have their gold in shelves but not into of banks ☺ but storage vaults.. i prefer physical and for electronic we have crypto currencies
Hopefully the Fed Chair position is on the front burner now - along with a full audit! Thank you again Brother Greg for the wisdom, insight & education every day!
I'd like to see the the Assets of the Federal Reserve System seized... In my opinion, they have been robbing us blind for over a hundred years... On a brighter note, start holding onto some Pocket Change for when the Federal Reserve Debt Notes Collapse...
maybe there are no assets, just debt
If you had the power to Print Money out of Thin air, wouldn't you be printing as much as possible and sending your "Employees" out to buy up as many "Real Assets" as possible...??? Who do you think is taking control of large amounts of Real Estate and all the Stock Certificates they can get their greedy hands on...???