Huge sell off in Bitcoin, are the central bankers making their move to make bitcoin look volatile, at the same time gold sales skyrocket. Social security is in big trouble, worse than we thought. Fed says there is modest growth and no real wage growth happening.China downgrades the US. The people in Venezuela are hungry, they are rioting looking for food. Hamilton says the people could see a 30%-50% drop in their wealth when the entire system implodes.
Thanks again, Dave.
Just a little shakeout in the cryptos. They're here for the long-term. The stock market will crash. Fed will continue to buy bonds, even more than before. The supposed deflation will prompt the Fed to also create more QE liquidity. The following inflation will be intense. Strap in and buy silver and cryptos!
How do we even know that cryptos will survive this though? None of them are physically backed yet.
We don't know anything really. I'm just offering the most plausible scenario from what I can see. By the way, you've been using money backed by "nothing" since you were born. Unless you watched Nixon get elected, in which case you might vaguely remember a time when currency was still money. The US dollar has been propped up by a two-fold plan in which it is used as the world reserve currency as well as being necessary to facilitate oil transactions (oh and the full power and might of the largest and most heavily funded military/intelligence/industrial complex in the world forces everyone to stay on the same fiscal page). The money we use now is FAR riskier than any other option out there. Faith is waning in government issued fiat currency. Nothing is "backed" by anything in this land of illusions.
Venezuela's crypto currency is supposedly backed by their oil reserves and gold from what they are saying. I hear ya though, it is worrisome.
Yeah and I can imagine the process for acquiring those coins, KYC for sure.
The club wanted a buying opportunity to get rid of their toxic fiat bonuses. It worked for them and those of us who hodl/ have been around. I sincerely hope this creates stronger hands amongst new people entering the space too because I don't enjoy watching them fuck with every market they lay their greedy eyes on. Thanks for the share bro and have a good one!
USA gets a sh!thole rating for a sh!thole economy
Remember SHEEPLE that when it crashes NOT to go after each other , but to go after those who both supported this corruption, and who instituted it = COPS , PROSECUTERS ,CIA , NSA , FBI , JUDGES , SENATORS , CONGRESSMEN , EXPRESIDENTS , ECT .