Armstrong is claiming we will not be able to achieve the transition to decentralization and the Knowledge Age (the topic which I often spout off about) before the systemic global economic collapse:

Yes, when I say we can see a monetary reset as soon as 2021, this is no joke. There are critical points in a number of markets that I will reveal in Singapore. These are the lines in the sand. Once we cross them, there is no going back. This is a global systemic collapse. I cannot emphasize how serious this is going to be.

[…]

This is NOT some new age of KNOWLEDGE or Artificial Intelligence ruling the world. Those are complete nonsense. We have to crash and burn before we ever reach some new age of reform.

Martin may be correct about the global economic collapse reaching a crisis point before our development of decentralization and Knowledge Age paradigms and economy is sufficiently matured and widespread.

Nevertheless I disagree with his implication that cryptocurrency and decentralization will offer no refuge from the coming crisis. And I doubt very much that the monetary reset will be that swift. Instead the crisis is going to lead to war and chaos for many years, because there’s no easy monetary reset which can recapitalize the West, because land and physical things are becoming worthless yet the world is heavily invested in the old industrial age fixed capital investments economy. This is an epochal shift and Asia will lead the way up in the Knowledge Age services as Asia bottoms in 2020 while the West will continue to fall over the cliff until at least 2024. The earliest time for a global monetary reset is 2024, as Asia has risen while the West continues to fall deeper into an abyss. It is that pain in the West that will set forth the willingness to handover power to Asia in a compromise for a monetary reset. Because all the capital is in Asia now, because the West is saturated with unfunded liabilities to socialism, welfare, entitlements of all forms, and horrible demographics with a bubble of 70 – 80 year old boomers and not enough youth with viable jobs going forward to sustain that system. The Western society has to be torn apart at the seams in order to restructure for a recapitalization that is sound.

In the meantime, globalized cryptocurrencies and decentralization will continue their exponential adoption and market capitalization growth. So monetary reset is plausibly just going to be a natural adoption of Bitcoin worldwide.

We’ll see…

Armstrong tried to conflate us with goldbugs and dollar haters again, even though I had already emailed him that we are more sophisticated than that and we support his theories on the imminent short dollar vortex collapse:

I spoke this “pretend” analyst who use to be a goldbug and is now a cryptobug. Boy does he hate you […] I probably would have lost an equal amount in BitCoin buying it at the high based on his emails […] I use to get real hate mail from the goldbugs. Not it is the crypto people.

Armstrong continues to think tangible assets are relevant, and he doesn’t yet understand the epochal shift underway. We are moving to intangible assets. As he has written, the wealth of a nation is the productive capacity of its people. People produce knowledge and technology these days, not physical things. Physical things are being relegated to production by machines/robots, which will drive their cost towards zero relative to the value of the knowledge production in the economy.

The monetary system will change. That is beyond question. It is also beyond question that the dollar will rise and the rest of the world begins to crumble from its economic mismanagement of government. That dollar rise will break the back of the monetary system and the NUMBER one thing to survive will be tangible assets