Rogue Mornings - Trump/Saudi Deal, Economic Perfect Storm & Cryptomania (05/22/2017)
"V" and CJ are joined by Ken Schortgen Jr. "The Daily Economist" to discuss Trump's Saudi visit, the economic decline in retail and auto industry and what he sees as the future in crypto currencies.
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Ken, clif's data on bitcoin comes to him priced in yuan and he translates that into dollars for his audience.
Next, zengold? If i put money in the ico on day one i get 20% more. So say i lock up $10000 in this ico i get 2000 profit and the rest comes of tje gold price goes up. Partner, i made more than that in bitcoin in one week!
I don't agree with Ken's bearish views on the cryptos. He says bubble, I say flight to safety. How about cryptos as a prelude to dollar collapse and hyperinflation? Gold backed would be interesting. Nothing wrong with physical metals. Make some $, diversify into plunging over-levered hard assets.