Guest Post by Hugo Salinas Price
Bitcoin is nothing more than a distraction, created to direct widespread public worry away from concern about the eventual collapse of the Dollar’s value.
What entity would wish to distract investors’ attention away from concerns with the Dollar?
Obviously, the US Government.
Just as obviously, there is no proof of that statement. To substantiate the statement, we only have recourse to the application of what, in legal terms, is the question: Cui bono? which asks: “For whose benefit?”
The answer to that question has to be: “The US Government”.
The greatest fear that besets the US Government is the collapse of the Dollar’s value, and Bitcoin is the distractor from the menace which threatens the Dollar.
What is the menace that threatens the Dollar? The rising price of gold, which devalues the Dollar.
Conclusion: Bitcoin – and its imitators – serve to distract the attention of investors away from investing in gold.
Bitcoin functions very well, as a distractor of attention from investing in gold, because to “invest” in Bitcoin is to use the Dollar to invest in what is essentially, nothing tangible, as is physical gold. Bitcoin presents no menace to the Dollar’s value.
The mass of American investors have little or no interest in gold. Their main interest lies in making Dollar profits. The rising price of Bitcoin attracts the attention of American investors – and that is it purpose: “Think of Bitcoins, and pay no attention to investing in gold.”
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Gold will always be worth something – unless we mine the ‘gold asteroid’.
http://hirocker.com/wealth/money.html
I’m so smart, I haven’t been distracted by Bitcoin or any of the thousands of other coins, and have plunged into gold and especially the miners, so I’m driving a ten-year-old Rav 4, while the dummies in Bitcoin are driving Lamborghinis. Yup, I’m a genius.
LMAO So True!!! I’m a rocket scientist as well.
Bob- I hear you on the miners, and the phys as well. My local coin dealer threw in the towel about Aug of 17′ and started playing in crypto. I followed suit. At some point one must acknowledge which way the wind is blowing and stop pissing into it.
I have followed Hugo for years, and still agree with many of his points. But, the future is digital. Where does he acknowledge that? I absolutely love pre 33′ gold and silver coins, we will never return to those romantic times, never. And if we do, they will not be very romantic at all.
I still allocate some resources to precious metals, but have switched to crypto and recently have enjoyed gains that I can convert to precious metals almost instantly any time I want.
Crypto is the wild west meets colonial issues sprinkled with thieves, scammers, and pirates. So there is that, also the biggest thieves, scammers and pirates, bankers and politicians are hatching their fucked up plans to get in on the heist.
Best of luck to all here.
Ballsy..
Funny and true.
I wouldn’t fault anyone for speculating in Cryptos but I’m not trading my tiny stash of silver for them.
Many years ago when BTC was at about 2$ each my intuition said “buy 100 or so”. But I didn’t ?. I have a couple other stories I could tell about not following my intuition. I think I have learned but I’m not altogether positive that’s true. We shall see.
the ultimate end of any central bank designed to charge interest for money created from nothing is dissolution from the growth of both money and interest. the push for every country to have a central bank is designed to speed up and ensure that this dissolution is worldwide. this is so a newer global central bank can take control and issue an all new money, starting the control process over again, this time globally. isn’t it obvious? it has been predicted, then planned and effectuated in the open, quite brazenly. post jubilee then, the free ride will begin again for those “money changers in the temple” and their power will be increased.
I generally agree, although complicated in that, during a Jubilee, every canceled debt is also a canceled asset. I worry who the canceled assets would land on. Most likely retirees and other guppies in a poor position to negotiate defense.
Further, in our uber fucked up monetary system, all money is essentially debt, a jubilee would effectively eliminate almost all money.
Mad Max time.
The “money changers in the temple” are going to have to update their jubilee protocol to account for the above.
they have updated their protocol. they nullified contract law for the GM bankruptcy, allowing senior claim status to be sacrificed for the “common good.” and those in the loop know when to move into real assets, which is still an effective means of the old protocol. and the elimination of money is part of the plan, to be replaced by “new” money, whether global, digital, etc.
Good points indeed, jubilee for the but not for me!
Bitcoin is not “anonymous”, it is in fact, very traceable, if you think it is not, go ask that guy who is doing time for operating the silk road dark web site, he dealt in bitcoins, his is in the pokey.
it is nothing more than an attempt to further control the masses, with traceable money.
unfortunately, this is where it is all heading, so, go get your bitcoint wallet, and join the heard.
I will be accepting only metal money, when it comes to barter town.
I think it should be common knowledge that bitcoin can be anonymous, but it takes a lot of work. One slip up and your cover is blown. This is just for everyday hackers. The NSA and deep state I am sure have ways of tracking it, since they created it. Quantum computing blows the lid off all cryptos. What do you think they are building in Utah, Gerbil cages….
What’s the difference between an ex Duestche bank employee and a pigeon? A pigeon can leave a deposit on a Mercedes.
until Bonds, Mortgages, contracts, and taxes abandon “the Dollar” as their mechanism for settlement, the Dollar will remain the yardstick by which everything else measured. Try paying your property tax or any other contract with something else if you like….
Cryptos will be the next and final fleecing of whatever spare change and credit the Sheeple have. After the S&L bailout came the quietist bank bailout in history using Bond Ponzi schemes, then the Dotcom bubble was popped, then the housing bubble. The PM’s bubble popping didn’t affect too many sheeple I think due to the great snowjob TPTB did in convincing them that they weren’t money. The sheep will be herded into Cryptos just like they were herded into Dotcom heavy 401’s. Ultimately the SDR’s will become the one world currency. They may be Cryptos or they may be some other form. The only important thing to know is YOU AIN’T GETTIN NONE!!!
The fools loving BitCoin crack me up. “It’s anonymous” they say. Well, you give all your personal info to include bank info to some clown somewhere on the planet to purchase BitCoin. Who is that guy and how do you get ahold of him if something goes wrong? BitCoin goes up because about a dozen “whales” in China sell to each other, jacking the price up in their clique circle jerk to whatever they want. Then, the lemmings see how BitCoin is sky rocketing and mortgage the house to get in. Then, the “whales” sell and mop up the schmucks. Rinse, Repeat. It takes over $4000 in electricity costs to mine a coin today and each new coin costs more. How is that sustainable ? There will be some coins that offer a service to mankind but it sure as hell isn’t BitCoin-SUCKERS.