Is The Rise of Cryptocurrency Foretelling of An Upcoming Global Financial Meltdown? By Gregory Mannarino
Is the rise of cryptocurrency foretelling of an upcoming global financial meltdown?
In a recent article, I had discussed the fact that I believe people are not as stupid as world central banks believe they are. World central banks are stuck in a very bad spot, because they have no alternative but to continue to inflate the already gargantuan debt bubble.
In truth, the world central bank issued credit card is maxed out, Yet world central banks continue to flood the world with more debt, why? Because they have no alternative, it is the nature of the beast.
By and large the general population does not even understand the basic nature of the debt based economic model.
All of the worlds modern economies, under the control of their respective central bank, has a debt based economic model.
A debt based economic model demands that cash be stolen from the future or "borrowed into existence" in greater and greater amounts just to support where we are at the present time. At the moment we cannot borrow anymore, a "debt crisis" ensues, then we face the possibility of a complete meltdown of the current debt based model.
It is quite possible that the rise of cryptocurrency is foretelling of this event, A critical failure of the debt-based model.
It is already very clear that world central banks colluding with the Wall Street banks will not allow a real market with regard to the price action of physical gold and silver. These institutions have been using and manipulating derivatives to keep the price action of the physical precious metals suppressed. Understand, there is no real market, no actual price discovery mechanism whatsoever behind the price action of physical gold and physical silver at this time because of manipulation going on in the derivative markets.
Hence again, the move toward an asset which cannot be manipulated by world central banks or Wall Street banks-cryptocurrency.
The decentralized nature cryptocurrency makes it nearly impossible for any one entity to manipulate the price action of these assets. While it is true that some thinly traded cryptocurrencies can experience large and sudden swings in its price action, this is more likely due to a large buyer or seller of the asset, and not any explicit manipulation.
In my opinion the rise of cryptocurrency is in fact flashing a warning sign, loud and clear, that the current debt based economic model may be about to melt-down...
Gregory Mannarino
The "Upcoming Global Financial Meltdown" is certainly the main reason that I came in to crypto currencies.
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Imagine paying with a 50 Trillion USD bill for a coffee......![](https://steemitimages.com/640x0/https://steemitimages.com/DQmU4Ue6FZZEhqgatDLpcuR8R6qAhaTWvMXLEm7KU2zFgX2/image.png)
Nice roll of toilet paper you got there!
Sad thing is, a roll of toilet paper would be worth more, who'd wanna wipe their ass with filthy money. LOL
I'm going to see if I can get one of those from Ebay...would be nice to say I'm a trillionaire!!!
Just hang on, when inflation hits you'll have US trillion dollar bills in your possession.
LOL!!
Pocket Change is the "Other" hard asset... Common Coinage seems to be over-looked by everyone... Let's see how Steemit Currency does...
sounds about right
So true! most of the people that I have converted into crypto now prefer to keep their extra savings from their job in crypto currency instead of a savings account.
Sounds risky but we are voting with our wallets and we are fed up of this corrupt system that has caused so much death, destruction and poverty for the masses.
Another good option is with Goldmoney. Can preserve wealth in gold and buy your starbucks with a prepaid account backed in gold. Good to spread out your savinga.
I'll second that. I am a huge Goldmoney fan. I don't use the card since it is always a 1% fee to fund it (sell gold from your account to make $). I like the feature that you can pay other Goldmoney members directly in gold. Though, I'm not sure that feature has yet been approved in the authoritarian US.
Interesting. Ill have to check that out
It may be very wise to put a little savings into Common (Pocket Change) Coinage... For one thing, it will be outside of the Banking System when all Hell breaks loose... LIttle risk in holding a little Pocket Change...
Absolutely!
First and foremost I am an advocate of holding tangible assets. I would recommend anybody looking to remove themselves or de risk from the banking system to be holding silver coins at first.
Crypto is further down my list but the more I research into it is becoming a very important asset not only for banking protection but venture capital. There are some incredible projects out there and literally anybody from any country on the planet can get in an own a slice of the potential.
I'm absolutely open to the thought of Bitcoins and other CryptoCurrencies... To me, Pocket Change is the other Hard Asset that should be given a little thought...
Agree. I always put away my pocket change. Also I keep copper cents before 1982. Who knows.
Buy a roll of silver dimes, quarters or halves every month too.
Yes... I love 90% Silver Coins also... However, they will be worth "so much" after the crash that people will be forced to use ordinary coinage with no silver content as a handy Medium of Exchange... It won't be the metal content of the Pocket Change, just like it's not the Paper value of our existing Fiat Currency...
You are very wise.
The pump in cryptocurrencies is also a result of investors having the fear of missed opportunities. I don't blame them.
That sounds like me! trouble is, most times I fear of missing out, I plough into something and lose money :-(
How about pumping a few fiat dollars into common Pocket Change...???
I really don't think so because we have been hearing these same arguments for silver and gold since I can remember. I believe it is a global shift to a free market currency solution. People are waking up to new possibilities.
The banksters will never tolerate a free market currency - I wouldn't be surprised if they are behind the creation of crypto's - as a trial run for their next global 1 currency takeover!
How about waking up to a small jar of Pocket Change...???
Great article Greg. It will be interesting to see how things shake out with all of the cryptocurrency over the net few years. Jerry (jbcoin)
I want to hear you shake your jar of Pocket Change ... It can't hurt to have some of the "other" hard asset outside of the Banking System...
pocketechange, I'm a metal detectorist. I believe that my jar of pocket change will shake a little louder than most (5 gallon buckets) haha. I believe in gold, silver, common coins, and any other hard commodity that you will need to use in the future, to make your life better. You should buy today's quality at today's price, with a devalued dollar, and squirrel your things away. jbcoin
Thanks for your input... I like the sound of your 5 gallon buckets... You're on track to making it to the other side of the re-set... Pocket Change...
Hi Greg
Can you do an article on which cryptos you think make good investments and which to avoid?
Perhaps the United States will come up with Crypto Dollars to replace the Federal Reserve Debt Notes... Let's say it will take 100 Federal Reserve Debt Notes or One Dollar in U.S. Coins to buy one of the New Crypto Dollars...
Pocket can you explain the difference in value from a FRN and a U.S. coin minted by the U.S. Treasury Department?
It's my belief that Federal Reserve Notes are Debt based and Common Coinage are Debt Free... When the Crash happens, would rather be holding Debt Notes or Debt Free Coins...???
Got it thanks
I think your right bitcoin sure has sky rocketed in the past three months. Stock market is to hard to predict anymore. Thats proof that its not real and will crash. Thanks for your everday info
Bitcoin is rising from countries who have seen currencies collapsed before. The west is selling gold while the China and India are buying it up. Difference is that bitcoin cannot be suppressed while gold is manipulated.
If you could print money out of thin air, wouldn't you be buying up as much Stock as possible...??? Real assets are where it's at... Also keep in mind that Pocket Change is better than Paper and Digital dollars in the Bank...
Yep it is coming and MSM will tell you it is a great buying opportunity for stocks. :-((
Buying Stocks is better than holding the same amount of fiat money in the Banks... It's also a good idea to hold as much Pocket Change as possible outside the Banking System...
Bye bye to your money!
this could be an epic fight between good and evil. but crypto is (do not forget) a huge step to a cashless society... that's why pm's are so important. cryptos for the brain and metals for the body.
I was at a store during a Power Outage... You may be wise to have a little Pocket Change on hand... I don't like the thought of a Cashless Society...
It's cashless, but theirs no mark of the beast, your your own beast !
it definitely might , i wonder who is behind this amount of cash flowing in. I can't imagine this are all just people.
Yeah, I have to think institutions are jumping on this as well.
I wish I had the power to print dollars out of thin air and buy Crypto Currencies... Since I can't do that, I do feel that it's wise to hold onto as much Pocket Change as possible, since we'll need a "Medium of Exchange" when the Paper and Digital Dollars fail...