3 Minute Gold News
A synopsis of an interview with Max Keiser from The Keiser Report, with Daniela Cambone at Kitco News.
PART 2
by: Elaine Diane Taylor
Topics:
Where Is Bitcoin Headed?
Bitcoin and Gold
World Debt
Max Keiser
Part 2 Kitco News Interview Link
WHERE IS BITCOIN HEADED?
The first major stop will be $100,000 per bitcoin. That will take it into the realm of valuation with gold. That would take bitcoin to a $1 trillion valuable and gold is about a $7 trillion valuation. That will start to challenge gold on the valuation side.
Max isn’t selling any gold.
BITCOIN AND GOLD
“Bitcoin is like Moses for gold.”
The contention between the gold community and the bitcoin community should not be there.
They should be working hand-in-hand.
Initially the gold people hated bitcoin. Then they started coming over one by one.
Roy Sebag at GoldMoney has come over to the cryptospace. Roy now says he does more business in crypto than in gold – it has eclipsed his gold business.
Why has gold been in such a slump for so many years?
Max says there’s a huge body of evidence to suggest that gold is being held down by the forces that would love to keep fiat money in place and the dollar strong. They attack gold and silver in the market with a lot of short selling, and a lot of naked short selling.
This has been fully documented. They’ve been keeping the price down because gold is a threat to the U.S. dollar.
Bitcoin is also a threat to the dollar, but there’s nothing in place for them to do to bitcoin what they do to gold.
That whole machinery to keep the price of gold down will evaporate. That means the price of gold will be free to rise.
Patrick Byrne at Overstock.com, who was a victim of naked short selling and fought it for years, is starting a platform called tZero. It’s going to blow the bloated fee structures of Wall Street.
And that is great for gold because you want to get rid of all the machinery that’s keeping the price of gold down.
The chart on gold used to map the chart on debt. That relationship was severed about seven years ago.
Then gold suddenly started going flat and entered a bear market, even though debt kept growing at a 45 degree angle.
Gold should at least be at the $4,000 – $5,000 U.S. per ounce range.
WORLD DEBT
According to Jim Rickards, a way to solve the world debt problem is to raise the price of gold to $10,000 and make a new reserve currency backed partially by gold.
This would bring in inflation which would clear the debt.
Max believes bitcoin could also be used to clear the debt, at a price of multi millions of dollars per bitcoin.
Bitcoin is currently sucking in all this horrible fiat money, as well as stocks, bonds and securities priced in fiat currency. It’s drawing cash out of all of these things.
The U.S. dollar is in a hyper-inflationary collapse against bitcoin.
SAFE HAVEN
Max says that bitcoin is equal to gold as a safe haven.
It fills the four major points that Isaac Newton and Aristotle believed were key to being a reserve currency: scarcity, fungibility, portability and desirability.
It is also, on top of that, transforming the very nature of economics.
Max Keiser can be found on Twitter and at maxkeiser.com.
(Nothing on elainedianetaylor.com or 3minutegoldnews.com is individual investment advice – we’re all watching which way the wind is blowing.)
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My thoughts…
I believe gold and bitcoin work hand-in-hand. The powers that run things will want to collect their taxes and fees and will do everything they can to make sure that continues. I spoke about it at the bottom of Part 1 of Max’s interview.
Gold is the money of nations and the powers that run the globe. I don’t believe that will change. Bitcoin is part of the overall swing from the linear world of print and Gutenberg to the field world of electricity. It’s just taking a bit to catch up. ;)
Bitcoin futures just started up at CBOE. Nothing blew up. Bitcoin didn’t crash and gold didn’t change very much. Here’s a place to take a look at where it’s going on at Cboe.
I don’t do the futures market myself. I work with physical gold as an artist and with the theory of gold as a communicator. It thrills me to light a torch and melt it down, but it’s oh so beautiful to work with glass, and add flakes and nuggets of gold that are raw and pure from the rivers. If you’ve ever panned for gold and found it in the wilds of nature, with the sun beaming down, you’ll know what I mean.
My Pure & Wild gold flake and nugget pendant with 18k chain is almost ready. It’s a way to carry that beauty and raw wealth right from the wild.
Elaine Diane Taylor~
December 11, 2017
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Gold is $1,246 U.S. per ounce
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Bitcoin Barbarbians
©2013 Elaine Art & Media SOCAN/ASCAP
words and music Elaine Diane Taylor
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A Terrible Breeze (North Korea and Nuclear War)
©2013 Elaine Art & Media SOCAN/ASCAP
words and music Elaine Diane Taylor
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Not Much of a Holiday (Greek Debt and Media Persuasion)
words and music Elaine Diane Taylor
© 2015 Intelligentsia Media, Inc. All rights reserved.
SOCAN/ASCAP
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Preparing for the Fall live boutique album available on iTunes — featuring Wag the Dog, Black Swan Dive, American Pie and Gods of the Copybook Headings.
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Coins and Crowns
words and music Elaine Diane Taylor
© Intelligentsia Media Inc. All rights reserved.
SOCAN/ASCAP
from the album Coins and Crowns available on iTunes
Single featured in Episode 1 of Mike Maloney’s documentary series Hidden Secrets of Money.
The Gods of the Copybook Headings
words by Rudyard Kipling and music by Elaine Diane Taylor
©2014 Intelligentsia Media Inc.
SOCAN/ASCAP
from the album Preparing for the Fall available on iTunes
The copybooks of the early 1900s gave us all the wisdom we need. The sayings that were copied are the truths, the gods, of our world. All the empires who followed the gods of the marketplace instead have fallen, and there’s terror and slaughter when the gods of the copybook headings return. The lyrics are by Rudyard Kipling. One of my gurus.
Another Week on Wall Street
words and music Elaine Diane Taylor
© 2013 Intelligentsia Media Inc. All rights reserved.
SOCAN/ASCAP
from the album Coins and Crowns available on iTunes
See the bankers wave their Wall Street wands and conjure piles of paper green. Naked short selling is like betting that your neighbour’s house will burn down. But in this scenario it happens to burn down. If the bankers win then we lose the whole world as we know it. I wrote this in 2009, with a lyric “A little grease (Greece) is floating out to sea, and little pigs (Portugal, Italy, Greece and Spain) are bobbing up and down, they’ll send a storm and we’ll see, when the tide goes out who’s naked on the beach“, and it’s coming on now. The world is changing as we know it.
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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.
Elaine Diane Taylor 