COMMENT: Mr. Armstrong, I’m a newcomer. I watched your WEC nearly. It was very eye-opening. I additionally wish to thanks for Socrates and for overlaying Bitcoin. Your service is the one factor on the market that isn’t biased, and you aren’t attempting to promote me some crypto. Additionally, thanks for explaining that nothing may be fastened and that the gross sales pitch behind Bitcoin was simply false. You’ve got defined it’s an asset class and method it like anything. It’s only a commerce. I have a look at it in several currencies, as you mentioned. It has opened my thoughts to a dynamic world, as you set it on the WEC.
As soon as once more, thanks.
Paul
REPLY: With the political chaos surrounding us and the push for battle, these are the occasions that trigger capital to maneuver. Take a look at our map that tracks the capital flows each day. Each the Chinese language and Russians are pulling again the capital from the West. The capital is fleeing the Baltics proper now, however Brazil can also be experiencing political chaos there.nWhen you have a look at Bitcoin in varied currencies, you possibly can see that it’s getting used as a car to get capital out of Europe proper now.
Graver Cleveland was the earlier president who, like Trump, was elected to non-consecutive phrases. Like Donald Trump, he additionally stood in opposition to his personal occasion. He expressed this greatest through the Panic of 1893. Capital can flee and transfer offshore. It’s the center class that can’t hoard their labor nor transfer it offshore.
Bitcoin is a buying and selling car, and it might not be fitted to a reserve forex for the reason that cash provide MUST improve with inhabitants and the enlargement of the economic system, or else you create deflation. However, it has turn out to be a global technique of transferring cash, and that is taking place proper now, so you will need to have a look at something from a worldwide perspective. Bitcoin has turn out to be like gold the place it’s the identical product that’s traded internationally.
