Crypto-mania to end
Cryptocurrencies absorb excess printed money
The crux
Don’t get c----t up in the betrayal, crypto is also a private system, although on paper it has a limited supply until it’s topped out. Cryptos are currently private money on the market, but they’re not backed by assets. In addition, bitcoin forks create a growing supply of units in the aggregate, which can easily lead to a Weimar Republic-style situation.
Cryptos like bitcoin are a technological creation. As soon as something else comes along that replaces bitcoin with a technological advance that does the job better, there will be a mass migration to that superior coin.
Since innovation happens all the time, it is ignorant to think that there will never be something better. So the current claim that bitcoin’s value is due to its limited supply is factually relative and essentially untrue.
There are more than 15 hundred different crypto versions on the market today, and no one can say for sure which one will prove to be the most talented in Crypto land. However, is it possible that the current crypto storm could push fiat currencies off the playing field?
Cryptocurrencies will certainly have a place in the future, as different specimens rise or fall to the occasion, which cannot be easily predicted on a coin-by-coin basis. For now, it is difficult to predict and understand what is to come in terms of cryptocurrencies.
However, gold, with its 5,000-year track record of reliability, is undoubtedly a better bet. Perhaps one day we will see a gold-backed crypto. For now, cryptocurrencies cannot be considered real currencies, as they have no general acceptance of utility.
The main problem with bitcoin, which applies to all cryptos, is that it’s not really that different from a typical fiat currency. It may be better in the sense that the supply is private and limited under certain conditions, since it’s not created out of thin air for political purposes, but it’s still not backed by anything real or tangible.
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This limitation makes many cryptos less attractive, and for good reason.
Money must be a commodity
When money goes bad, everything goes bad. The R--------d central bank sent the US dollar and its associated paper currencies on their way down in 1971. That was when they took the dollar off its golden handcuffs. Allowing the dollar to pick everyone’s pockets, with the added coercion of cruel sanctions against any country the D--------e didn’t like.
- Compared to the pre-1971 dollar, it has lost 98% of its value.
The Fed has showered Wall Street’s financial trading houses – the primary dealers – with trillions in short-term loans. The money is for a Wall Street liquidity crisis that has yet to be credibly explained to the public, but so far the New York Times doesn’t seem to have an investigative reporter assigned to find out what’s really going on.
Just 17 years after the same trading houses blew themselves up in 2008 in the biggest financial crash since the Great Depression, taking the US and global economy down with them.
Look at cryptos. In the early days they were seen as a bet on a new monetary system in which cryptocurrencies, which have no physical existence but are limited by mathematical wizardry, would prove superior to gold. This may yet turn out to be untrue, and the price action in cryptos is just another of the many manipulative tricks coming out of the central bank controllers’ box.
- As a result, if there is a blowout in the central bank money system, all cryptos could go down with it.
Since cryptos are not backed by gold or any other valuable asset, they rely on the continued existence of a worldwide electronic internet and can never achieve the stable monetary value necessary to replace currencies.
In the event of war, the internet will be instantly disrupted and each crypto owner will lose control over its immediate use. Because cryptos are quoted hourly, their price does not suffer from the constant manipulative attacks that gold and silver do. This gives the impression that cryptos are accepted by the D--------e c---l.
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Because if they accept the existence of cryptos, it means that they pose no threat to the fiat monetary system on which the world now depends. Furthermore, they are used to camouflage the massive money printing that is driving up prices on Wall Street, in real estate and in cryptos.
And here is where the demise of cryptos begins;
“Russia’s communications watchdog Roskomnadzor has blocked access to the country’s largest crypto aggregator platform”.
https://crypto.news/roskomnadzor-bans-russias-largest-crypto-otc-aggregator
Source: Final Wakeup Call
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