What is the meteoric rise of cryptocurrency telling us?
Well I'd like to put my two cents in here.
If you know my work, I have been saying for years that the people need to "become their own central bank" and "bet against the debt," and why is that? Well, what do the central banks produce? They produce two things, debt and debtors. World central banks in collusion with their respective governments, or should I say governments with their ruling central banks, have managed to create a modern global civilization of debt slaves. The creation of the enslaved by central banks has manifested the biggest, and potentially most dangerous, debt bubble the world has ever seen.
Let me ask you, why do you believe that the United States of America is now the largest debtor nation in the world? Moreover, why is it that US citizens are also the most indebted of any modern economy? Today more than any other time in history being outside of the centralized banking system is absolutely essential, henceforth cryptocurrency, (and why people must also hold physical gold and silver as a long term investment).
World central banks need to keep as many people as they can in a zombie like state, dumbed down, and unable to think outside the box. It is clearly no secret that world central banks colluding with the Wall Street banks go to great lengths to keep the price of a physical gold and physical silver massively suppressed, and in no way are the current prices of physical gold and silver reflective of their actual value based in US dollars. In fact the very existence of gold and silver derivatives is to keep the prices of these assets suppressed.
The Federal Reserve has had to use "extraordinary monetary policy," their words not mine, to keep the current debt bubble from bursting, but this gargantuan bubble will burst at one point in time.
Being that the US dollar or any other Fiat currency for that matter are nothing more than units of debt, when the bubble bursts the value of these Fiat currency's could potential hit zero. I believe the rise of cryptocurrency is reflective of a general population that is finally understanding that the fundamental factors which exist behind the current debt based monetary system, cannot be sustained. Therefore, we can expect the meteoric rise of the cryptocurrency to continue for the foreseeable future.
Gregory Mannarino
To add to your thought, I think another couple big reasons for cryptocurrencies, is privacy, taxation and fighting inflation.
The more central banks around the world print their currencies - it's like they're racing to the bottom - the less they're all worth. There's more and more currency chasing the same amount of goods and services, and so, prices go higher - economics 101.
Cryptocurrencies, being limited in scope, like gold and silver, for instance, can't be printed out of existence. Sure, you can create newer and bigger cryptocurrencies, and many will rise and fall. But, ultimately, it's the free market who determines their fair value, like Greg talks about all the time.
Cryptocurrencies can offer you the same kind of privacy as cash; is much easier to transact in, and can truly be an international currency. But it's not taxed by a government or the banks. The transaction fees are much smaller, and you don't need to convert to other currencies and lose value in the exchange rate.
On top of that, since they can be private, it's very hard for a government to tax it. That's why they're so afraid of it, and trying very hard to co-opt it. Don't ever buy cryptocurrencies created by governments or banks. If they control it, it's the same exact thing as regular fiat currency.
The more people realize these things, the more I think cryptocurrencies will rise. There's still a small adoption rate by comparison. But as people lose faith in fiat currencies, like Greg says, they'll flock to precious metals, and cryptos.
Thanks Greg for your insight!
Excellent! Agreed.
Excellent comment!!!! Agree totally. I hope that I can benefit from the rises before the governments get smart to this!
Yes, alot of the crypto currency players say theres alot of new money pouring in. Whenever they start the platform of being able to buy physical bit coins with cash at a counter than were gonna watch it really take off. Defiantly the wave of the future that isnt going anywhere for a long while if at all. Check my page once and again i place all current real time articles on the political, money, crypto currency and world news of the day.
Cryptocurrency or not, anything is better than fiat units of debt right now. By the way Greg i made $2.57 off my first introduction post (so far) and its really got me excited. Thank you for showing us this site and thanks everyone here for having my back!
Welcome to the platform! :)
My friend I was just wondering do you know how to cash out the money on the system ?
Hi Curtis,
this is described in the bible sized FAQs of Steemit. You need to exchange steems into bitcoin and those into paper money. Or you can buy with steems direct if you find a vendor who accepts them.
But its all pretty complex, so please read it up yourself.
Regards
Thanks so much my friend. I am terribly horrible at reading . Naturally have never read anything the size of a Bible including the Bible . I signed up through steam it because of Gregory Mannarino . He says he's always got my back . So maybe I'll ask him to do a video about it .
I haven't figured it out yet sorry
I really need to do an introduction....Just need some inspiration! (I have a baby which is 'frying' my brain of ideas)
Could not agree more! I have been desperately trying to get my friends and family to believe in what the future of cryptocurrencies can be for all of us and how we could see unbelievable social change in our lifetime for the better.
It is very hard work to try and get people who are so deeply indoctrinated to even accept that there could be another system created that is not the debt based monetary system that we have today.
Master Gregory,
You are correct! People have been enslaved by debt. Since slavery was abolished, powerful people have used debt to motivate others to do as they wish. It is a "financial" whip that causes pain and leaves scars which eventually kills self will.
Exactly. Thank you.
well said !
The Bitcoin Buyers probably know that all Fiat Currency is going to Zero earlier than expected. If you can't buy Bitcoin, earn your Steem via posting. But for heavens sake, get some Crypto.
You are correct sir. Thanks for the reply.
Welcome :)
Greg,
Thank you so much for the valuable knowledge you provide everyday.
Cheers
Thanks so much for the up votes! This is day one on Steemit for me and I'm blown away by the technology!
And the people on this platform are so smart as well, what a wealth of information, I'm also blown away.
I agree Greg. I think more and more people are waking up to the fact that the fiat currencies are being highly devalued. There may be a point in time when all of this quantitative easing that occurred will come home to roost as massive inflation in USD and other fiat currencies. My understanding is the banks were given massive amounts of this money but instead of loaning it out and putting it in circulation (which would have increased the velocity of money and therefore real inflation) they parked the money as excess reserves at the federal reserve. I wonder if these excess reserves are part of the unwinding of the balance sheet that the federal reserve has said they are planning on doing.
We live in interesting times, and I am thankful for your thoughtful information that you share with us. God Speed sir.
I totally agree .
Great job Greg! Derivatives are going to crater at some point and only money printing will provide the liquidity necessary to keep the Ponzi moving forward. When it happens the central banks will all print to infinity and inflation will destroy the value of paper currency. We all need to be investing in tangible hard assets and cryptocurrencies that can't be inflated away.
I cant wait to see where gold and silver prices go once the suppression ends. Exciting times ahead! In the mean time, ill continue to use profits from cryptos to keep stacking to the ceiling!
Like an avalanche, it starts with a single snowflake triggering the movement of the others.
Don't say snowflakes ! Aaaaah ! LOL
LOL
Hey Greg,
finally made it into Steemit, too. A bit complex at first, but we'll get there. Then lets see how meteoric things will develop. :)
I agree totally with your comments; fiat currency inevitably loses purchasing power via inflation and other central bank 'manipulation' based on political and government agendas. We gotta stick with crypto-currencies that are outside the sphere of central bank influence. Thanks for sharing!
The powers that should not be would have to gobble up bitcoins and dump them on the open market in order to surpress the price. The only "paper" bitcoin is a paper wallet which TPTB cannot touch.
Edit: This is converse to the current derivative scheme which allows for unlimited paper gold and silver on to the open markets, which supresses their prices.
Well put . To the point , and direct . Keep up the great postings here on steemit.com! I am so grateful that you were able to put things simply when you're writing and not go off on a tangent like when you're talking . lol. Anyways Greg information is always informative even though I may already know it . I appreciate this article because it puts it into perspective without you going off on some tear when explaining it . Honestly I'd rather watch videos then read something . However listening to you makes me scramble my words when I try to explain what you have to say . Yes I might feel I understand it better . However under this platform I am able to explain it to someone else better .
Hi Greg, although I am not an investor in the markets I have been following you for several years and indeed have "become my own banker". I never commented to your videos on you tube because I refused to join that platform. Thanks for all you do and Thank You for telling us about steemit!!!
Great article Greg, so true ! There slaming the metals but can't control crypto currencies, I wonder if this ends up being the linch pin ?
Well said. And things like Steemit are definitely great ways of letting people know of their enslavement. I see a (r)evolution coming!
I get what your saying Greg and your right. The only thing is that Americans have so much faith in the dollar, heck the world that it is preventing people from opening their eyes. Stating the general population is an overreach in my opinion I believe we are still a microcosm. Will we get to the point where the general population understands I do believe we will. I just think the only way we will get to that point, is when we have the next meltdown and that is the sad part.
It wont take much for people to abandon the dollar once hyperinflation hits. Once the purchasing power of the dollar declines to the point where people have to choose between filling their car with gas and eating dinner that night, people will wake up fast and begin scrambling for ways to neutralize the loss of purchasing power by transitioning into real assets aka cryptos and precious metals.
I completely agree and that was my point at the end of my comment. Which is sad because people think I'm crazy for trying to protect myself. Especially knowing that it will blow up, it's not even speculation its a mathematical fact we will hit the wall, when who knows.
Very well put excellent job !
I think were just scratching the surface Greg, with the capabilities of this platform.. Once again thanks for the foresight and seeing what this platform capable of..
Thank you for all your good work. Do you know if their is an etf that follows cryptocurrency? and would it be wise to buy now? Thanks is advance for your feedback and everyone's input on this.
What is the ticker for the ETF ?
I agree that crypto currency will gain support. Some coins now are furiously working on getting their product to work easily and simply. This will happen in the next year or so, and then mass adoption will be possible. And that my friend , is when this cryptocurrency market will explode!
Disclosure: Long on crypto :-)
I agree 100% with you!😀
They are ready to do everything....
but at the end they will just make these bubble even more bigger.
THANKS GREG ALWAYS ACCURATE THOUGHTS! WE MUST BE "IN THE MONEY" IN PHYSICAL GOLD & SILVER! AS WELL AS CRYPTO CURRENCIES (IN THE TOP 20 LIKE STEEMIT) TO DIVERSIFY OUR INVESTMENTS.
The banks are just doing a bad job recently. They are doing risky deals and then have to be bailed out. It's hard to operate without a bank account these days, but we need banks that will just do what we need and not try to enrich themselves excessively. It's the culture that's broken.
Excellent information. Manarrino explains things in a very humourous but serious and helpful way. Love it.
Selling some percentage bitcoin now at all time high's and buying silver at basement bargain prices would be prudent.
Yes, this is a good idea. FYI - Goldmoney accepts bitcoin and ethereum to buy gold (but not yet silver) directly for remote storage in Dubai. I have used some of my gains in bitcoin and ethereum to do just that as well as to start slowly branching out into a few more cryptos.
Diversify is key. ;)
Also there is an opportunity in the housing market right around the corner. watch my blog for info on how to take advantage of this once in a generation opportunity. We did in 2009 and paid cash for our home for about the same price of a 20% down payment. this next opportunity will hold greater gains then 2009 did for us.
Cheers!
cool, I'll follow you. Are you buying silver directly online with btc?
I'm sorry, I'm still figuring out how to use Steemit, and just found your reply.
I only buy physical. I also only buy from my local coin shop. The reason for that is to develop a relationship with the proprietor. In times of sale when prices are high, being in good standing I think will hold value when it's time to cash in some of my holdings. ;)
This is so true. Gold and silver price being manipulated big time.
Agree 100 % ...thank you Greg.
The question is ... when will the powers to be try and take down cryptos?
That's a good question, although I don't think they can short of taking down the internet. That's why it's so important to hold your crypto's of line if possible.
Hi gregory
Tony here in ireland i like your style.dou do good with others with your blogs.you have enough and are sharing with others.good man and feet on the ground person.
In the future, robot shall be our slave as long as they don't get conscious enough to enslave us. So we better think of an exit plan before this planet conquered by machine overlord.
Just got some more bit coin and Ethereum going to start some minimg contracts. Visit my page from time to time for the lastest news articles posted from all the different news, money, and political sites we know.
Congratulations @marketreport!
Your post was mentioned in my hit parade in the following category:
Very helpfull,thank you for sharing your knowledge
Excellent article as always.
I used to know nothing about the cryptocurrencies. But the more I look into it, the more I get pulled in. Thank you for the great article!!
Time and again, good article!
Thanks for your work sir. As a very little guy in this game you were the first to open me up to steem in order to get into crypto's, and as such i made you my first follow, look forward to seeing more from you.
Thank you for saying this! I will do my best.
What if, the gov and IMF starting to be predictable and regulate and fee/fine all cryptos except the SDR wich they call Phoenix-coin that you can only legally use.
Yes..... you can change your cryptos into Phoenix before a certain date.