The Meteoric Rise of Cryptocurrency. By Gregory Mannarino
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