Tuesday, June 22, 2021

Bitcoin Segwit Activation-The Gold Cartels Worst Nightmare

by Andy Hoffman, Miles Franklin:
Not that its experience is any different from the countless “empires” that destroyed themselves from within; but let’s face it, America is rapidly morphing into a Banana Republic.

And not just in terms of its monetary policy – as the leader, in the “race to the bottom,” of the terminal phase of history’s largest; most destructive; and for the first time, global; fiat Ponzi scheme. Unfortunately, the symptoms of the disease are widespread, affecting the political, economic, and social landscape – all by-products of the complacency, self-indulgence, and arrogance created by the false sense of superiority the “reserve currency” issuer temporarily enjoys, in ephemerally living far above its means. Unfortunately, aside from the inexorable secular headwinds pounding against America’s rapidly waning dominance – like the global population explosion, unfavorable demographic trends, and synchronous worldwide information dissemination – America’s exposure to the gargantuan, historic cyclical downturn its own policies caused, is as broad, and systematically dangerous, as any nation’s. And not just absolutely; but more importantly, relative to the sky-high, “sixth sigma” standard of living its fleeting stint as reserve currency issuer has enabled.

Is Peter Schiff Against Bitcoin Because He Is A Globalist Insider Shill?

by Jeff Berwick, The Dollar Vigilante:
When mainstream media tries to drag bitcoin’s name through the mud, we get it. The mainstream media is owned by the same general group of people who own everything else including governments and central banks.

Of course, they are going to do everything they can to make bitcoin look as bad as possible. And they’ve done that, now declaring bitcoin dead 140 times. And that’s when they aren’t trying to associate bitcoin with things like the CIA’s drug running business or terrorist financing which Best Friends Forever (BFFs) Killary Clinton and Donald Trump do on a daily basis.

But when those not normally associated with the globalists try to say and do anything to demean bitcoin it makes you wonder whose team they are on.

Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term

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by Mark O’Byrne, Gold Core:
– Bitcoin volatility shows not currency or safe haven but speculation
– Volatility still very high in bitcoin and crypto currencies (see charts)
– Bitcoin fell 25{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} over weekend; Recent high of $3,000 fell to below $1,900
– Bitcoin least volatile of cryptos, around 75{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} annualised volatility
– Gold much more stable at just 10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} annualised volatility
– Bitcoin volatility against USD about 5-7 times vol of traditional forex trading
– Cryptos remain subject to huge speculation with little fundamental analysis
– Despite major differences many crypto currencies correlated, mimic one another
– Extreme hype – bitcoin expert bets will eat own body part on national television
– Millennials can punt on bitcoin, should also own gold and silver for long term
– Cryptos mere ‘babies’ when compared to time tested gold and silver

Should you own bitcoin or gold? That’s easy

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by Tama Churchouse, The Daily Bell:
Gold bugs are rarely, if ever, bearish on gold. To them, it’s the only real currency in a world of money-printing central banks endlessly devaluing their fiat (that is, paper) currencies. There are few people who believe so fervently as gold bugs.

But bitcoin fanatics come pretty close. These folks believe that this decentralised digital currency is the ultimate means of easily transferring value without the need for centralised entity, intermediary, or central bank. Bitcoin is a libertarian dream.

Now, given that gold bugs and bitcoin fanatics share a common desire – a completely independent store of value – and a common enemy (central banks), you’d think they might be the best of friends. But they’re not.

The PullBack Is Over (For Now): Cryptocurrencies Gain $28 Billion & Nearly A 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} Gain In The Last 48 Hours

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by Jeff Berwick, The Dollar Vigilante:
So much for the cryptocurrency correction. Two days ago when bitcoin hit nearly $1,800 and the market capitalization of all cryptocurrencies nearly touched $60 billion, I wrote in my article entitled, “Coinpocalypse”, “I am now thinking it has dropped enough to start wading back in.”

And, it appears I nailed it almost down to the minute. As soon as that article went live, the cryptocurrencies began staging a comeback. And they continue to do so as we speak.

The total market capitalization of all cryptocurrencies increased from $60 billion to currently $88 billion for a nearly 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} gain in just the last 48 hours.

This Could Be Bitcoin’s “Mainstream Moment”

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by Greg Wilson, Casey Research:
On August 9, 1995, the internet had its “mainstream moment.”

That’s when Netscape held its initial public offering (IPO) and released its web browser, Netscape Navigator, to the world.

At that point, the internet had already been around for 15 years.

Yet despite being one of the greatest inventions in history, the world was slow to adopt it. In 1995, only 0.3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the world’s population used the internet.

The internet needed a catalyst. And looking back, it was Netscape.

The numbers back it up.

John Rubino – Yellen’s Retreat and the Rise of the KleptoCurrencies

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by Kerry Lutz, Financial Survival Network:
John Rubino joined us for a discussion of Fed Chairwoman Janet Yellen’s retreat from so-called interest rate normalization. Looks that raising rates is off the table for the foreseeable future. Can QE to infinity be far behind. Things aren’t so good in the Crypto-currency space. Prices of Bitcoin et al., have been hitting the skids the past week. Will it continue? As of last Wednesday there were 970 Crypto-currencies. Does the world need any more? But it’s sure to get them regardless. Let’s see where they head now.

Click HERE to Listen

Coinpocalypse: Is This The End of Cryptocurrencies?

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by Jeff Berwick, The Dollar Vigilante:
The selloff in cryptocurrencies continues today with bitcoin now falling below $2,000 to a low of $1,841 after hitting its all time high of $3,108.54 on June 11th, marking a 41{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} drop in the last five weeks.

And the total value of all cryptocurrencies dropping to near $60 billion, down from their all time high of $116 billion on June 20th marking a nearly 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} drop in the last month.

Bitcoin & All Cryptocurrencies Are Collapsing! We Are Witnessing The End of Blockchain!

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by Jeff Berwick, The Dollar Vigilante:
Just kidding, again.

We are continuing to see bitcoin and most other cryptocurrencies sell-off, however, just as we said they should and would do after such a parabolic spike higher in the last few months.

Bitcoin has fallen the least of the major cryptocurrencies… again, just as we said it would.
It has fallen 26{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} from its high 34 days ago.

Janet Yellen’s Bitcoin Troll Gets $15,000 In Donations

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from ZeroHedge:
In what was perhaps the most amusing act of protest to occur during testimony by one of the world’s most powerful central bankers since ECB President Mario Draghi was glitter-bombed by far-left activist Josephine Witt two years ago, an anonymous bitcoiner trolled Federal Reserve Chairwoman Janet Yellen by holding up a hand-made sign that read “Buy Bitcoin” during Yellen’s testimony before the House financial Services Committee on Wednesday.

Switzerland Opens Door To Bitcoin Asset-Management Business

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from ZeroHedge:
Bitcoin and other cryptos have fallen sharply over the past month in a shakeout that saw some of the early longs decide to take their winnings and walk away. But a 20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} drop from the all-time highs hasn’t done much to temper wealthy investors interest in bitcoin and other cryptocurrencies as alternative investments potentially worthy of diversification. And with the Greyscale Bitcoin Investment Trust still trading at a ridiculous premium, and the chances of the SEC approving a bitcoin ETF in the US looking increasingly remote, it’s unsurprising that “private wealth managers” and trying to scoop up wealthy customes who have expressed an interest in bitcoin.

But while regulators in the US and in many other part of the developed world have been hesitant to embrace bitcoin, Switzerland may have just given the world’s private-wealth specialists the opening they needed.