henrymakow.com – April 14, 2021
“BTC is a total ponzi, going up because of new money, much from the printing press, coming in. And it will go down when money printing ends, which seems to be around now.”
by Anthony Migchels — (henrymakow.com)
BTC is and remains a totally bogus item. I hate to say it, but I agree with the likes of [Christine] Lagarde and others who say BTC is just a ‘speculative asset’, and not a means of exchange.
Market Cap is a Trillion now. If there is 10 billion worth of real, commercial trade in BTC, it’ll be a lot. This means that 1 BTC circulates……….every hundred years. That’s insane, that has nothing to do with ‘money’.
BTC is a total ponzi, going up because of new money, much from the printing press, coming in. And it will go down when money printing ends, which seems to be around now.
Also, I’m suspecting BTC did its job for the Banksters: it made electronic, cashless money hip. It indeed paved the way for a Global, Cashless Currency. But it won’t be it. It’s going to be regulated to death, once it crashes, I think.
The real cashless electronic currencies will be run by the Central Banks, not some ‘free market’ outfit. China incidentally just last week started theirs, it’s operational now. The ECB, BoE, the Fed, they’re all developing their own.
I very strongly suspect we could see a crash in months. Here’s why:
This guy has zero understanding of what btc is and why its value is so high.
Ain’t no ponzi scheme that’s for sure
In my view, Bitcoin will likely become the new gold standard for government digital currencies, with its value regulated or set. The number of bitcoins is limited and it is divisible to extremely small fractions. There is no other crypto like it. When it goes up the people owning it will be hit by capital gains taxes so the governments in seeing it essentially a new asset of value they will not want to crash it. With real gold becoming impractical for transactions in the digital world, Bitcoin will be the new gold. Its value is also being determined by its utility and its compatibility in working with other cryptos like Ethereum supporting contracts and transactions. Ironically, despite all of the New World Order centralizing efforts, the internet, block chain, and cyrpto are the real future spelling more decentralization and a diversified control of wealth. Some day governments may be our servants rather than our slave masters.
This analysis isn’t strictly true. You can’t just say Bitcoin is purely speculative. Sheeple have their wealth tied up in all sorts of things. Stocks, bonds, property, cash, & metals. None of these are safe or reliable. If you have some of your money in Bitcoin, you have a chance of protecting your wealth for a period, okay, it could be a short period, but it does give you some time to play with.
Many fringe commentators say the markets will tank, property prices will collapse any time from June 2021 & towards the end of this year.
As a very early predictor of the 2008 financial collapse (I didn’t name the year, I’m not a mind reader), I knew it was coming. This time it looks like this will be bigger, the questionable data suggest that. But given that the financial system is a fiction of rigged markets & crime cartels, anything could happen. Again, I can’t read the minds of the script writers.
There’s a lot of inflation coming, in fact, it is already here. Food is up 20%, steel and timber are through the roof… I thought there was a glut in steel production, what do I know? But for sure, the markets don’t exist.
I remember when Max Keiser was telling his listeners (me) to buy Bitcoin when it was at $1!!! I’ve never been motivates by money. lol
Anthony Migchels has a very interesting blog that is not too difficult to find. He’s one of the more original money thinkers around today, so he may be partly right about this, at least.
One thing is certain — Bitcoin did spike public interest in eMoney and give it an impressive sense of legitimacy. Absent that, who the heck would take seriously government or bankster suggestions in favor of such schemes-I-mean-scams?
First of all, a gold standard doesn’t mean to trade pieces of metal for a meal at McDonalds, it means redeemability of bank notes for gold. What is the main consequence of redeemability? Bankers cannot play God anymore. I got to tell you, bankers are doing a disastrous job playing God. In a gold standard environment bankers have to work to get their hands on some capital. They have to pay real interest in order for you, peasant, to borrow them some of your hard working money (gold). The gold standard throws a wrench into the banker’s phony alchemy of creating money out of nothing. That should be obvious by now.
Bankers don’t have God-given right to rule upon society, not even close to that. They are (or should be) mere economical players like everybody else. Money out of thin air has created anti-economic reality. Satanists love to invert reality, that’s what they do. We live now under a Soviet-planned Judeo-communist global economy.
The mess has started when the monetary system lost touch with reality. Gold is reality! Whether reality comes in the substance of tablets of salt, bags of potato or tons of copper don’t matter. In my humble opinion the standard should be one Oz of silver. One kilogram is a standard for mass, one second is a standard for time and one Oz of silver is a standard for money.
Without a standard for money (((BANKERS))) are free to rob and subvert society. Bitcoin complicated swindle doesn’t change that a bit.
A Ponzi scheme indeed. BTC has no intrinsic value. Okay, fiat currency is just paper, yes it is but it is backed by the confidence (or lack of) in the country which issues it.
Whatever the currency is, the class of people who want to be very rich without working remains a problem. Jews say they own the world and work is what the goyim are for. The Bitcoin advocate Max Keiser talks like a metal robot. These are soulless beings. They have money instead of God.
It will take a few headlines to tank BTC. It has support levels to bounce off, Many will think it will be temporary and buy into what they think is just a dip. However it wouldn’t take long to get back to under one hundred dollars.
Lewis Jones: I listen to Max now and then. Some of what he says is very true, on other points, he is way off the mark.
While I had the choice/chance to of made huge sums of money by following MKs advice, I am clear that much damage is caused by speculation. Bitcoin goes up, fiat currencies go down, that hurts the thicko sheeple and the more hurt, the more those thicko sheeple go to the ballot boxes to vote in their one party state.
Feedback loops of pure evil.
As a great man of the last century often said, the only real wealth is a person’s labour. All money, be it paper or electronic, is a scam.
Bitcoin will never move to a Ponzi Scheme and neither does it function as a speculative bubble that Wall Street Capital Risk investors want us to understand. Bitcoin has stored a number of fixed and interchangeable blocks when it was initially created (they act as a digital fund), if one day the Btc collapses similar to the financial bubbles, those millions in blocks will ensure their unforeseen fall and possibly until their next rise. .