Bitcoin & Co.: Bubble or Symptom of Fiat Money Collapse?
In this report I posit whether the crypto currencies are in a bubble or whether we face impending hyper inflation of the fiat monetary system. I also compare the move in bitcoin versus the dollar to the move in the gold mark versus the reichsmark during the Weimar hyper inflation.
I totally agree.
Another parallel to the Weimar Republic is the increasing political divide and increasing militancy of both left and right political wings.
I'm yet to start with Bitcoin and Ethereum though, do you mind me asking which wallet and exchanges you use/trust?
@andybets You are totally correct about the political aspect. Post WWI Germany was highly unstable politically and that only helped to accentuate the monetary crisis.
i agree the dollar is worthless trash
Yes. The emperor has no clothes! Bitcoin & Co. have looked behind the curtain.
I think it's unfair to just mention the dollar. I'll take a dollar over any other fiat. Like I said in the reply to Maneco64, the US has vast resources, physical & intellectual. In addition the most advanced military in the world.
So while I agree it's crap, at least it's backed by America & Americans.
Addendum, geologists have also said that there is still about 70% of the gold locked up in the Sierra Nevadas, compared to what was found/pulled out. There's your Ft. Knox.
Great analysis as always. Don't panic people, just prepare. I've been stocking silver in the form of coins for many years, little here, a little there. Now I'm stocking crypto, a lot here, a lot there.
In America we'll make it. We have a large country with vast resources protected by oceans. We have the innovators in Tech, space, agriculture, etc. It will be painful, but we'll make it.
Thanks @rt395. I have been doing the same as you for many years too.
Get crypto too. also what he said.
In Venezuela we are suffering the total collapse of the currency and the economy. There are many similarities with the Weimer hyper inflation and the first Austrian Republic, however the causes of uncontrolled money printing were very different.
Surely it is signalling a fiat currencies collapse
I see you are getting more involved in the community here.
Great to see!
Yes. I am enjoying it and I think the community is growing quickly!
thank you for another great video. i've been watching you on youtube for the past few weeks and started getting into silver and some cryptocurrency.
thought i better get a jump by following you on steemit now too. thank you again.
@used02 You are welcome. Thanks for the compliment and for following me on youtube and steemit.
My thoughts are that it is a symptom of our current fiat currency system collapsing under the immense pressure of never ending spending and printing of cash.
That is my opinion too which I express in the video.
Thanks for the video! I agree, that the amount of fiat currency are too much! As intrest rates will change the money will flow back to USA and hyper inflation will follow! Followed and upvoted!!
Edited: Misread. sorry, good comment.
Hey Maneco, I came over from you tube. Can you follow me? I'm @bagelman
Sure @bagelman. I will definitely follow you.