3 Minute Gold News
A synopsis of an interview of Max Keiser with Daniela Cambone-Taub of Stansberry Research.
Max is a Bitcoin Pioneer, Co-Founder of @HeisenbergCap, Virtual Currency Inventor bit.ly/2KXCIfv and Creator of The Orange Pill Podcast with Stacy Herbert.
Topics:
Bitcoin Decentralized
Elon Musk
Austin “F*#k Elon” Tour Date
China
Texas
2021 Bitcoin Price Prediction
Wall Street
Interest Rates
Central Banks
BITCOIN IS DECENTRALIZED
Bitcoin is about nobody in particular.
It’s a decentralized network.
There is no center to the network.
A lot of people became fearful wondering if Elon Musk was going to sell his Bitcoin, but Bitcoin isn’t about fear. It’s about faith and getting rid of fiat (central bank) money.
Max said things at the Miami Bitcoin event like “F*#k Elon” and “We’re not selling!” because Elon decided to insert himself into Bitcoin for some reason.
Elon Musk is not instrumental in Bitcoin.
Michael Saylor is not instrumental. The Winklevoss Twins are not. Max Keiser is not.
Bitcoin is a decentralized monetary network that is flawless and that’s growing on its own.
El Salvador, and now Paraguay, have announced that they’re adopting Bitcoin as a legal tender.
There are another 8 nations in that region that Max believes are going to adopt Bitcoin, and that it’s the beginning of a global Bitcoin standard.
Max has been saying for ten years, since Bitcoin was $1, that it was going to compete with if not replace gold, and that it would become legal tender and a global standard.
He believes that Bitcoin can do all of the things that the other alt-coins can do, including XRP, Cardano, BCH and Ether.
Max believes there will be no use case for most of the alt coins and most of them won’t be around in two to three years.
AUSTIN “F#*K ELON” BITCOIN TOUR DATE
There are five or six cities lined up for Max’s “F*#k Elon” tour.
The next is July 8, 2021 in Austin, Texas at The Spider House. There’s a BBQ, TShirts, Max’s standup rage and music, with a DJ flying in from Canada.
Daniela says she didn’t know there was Bitcoin music and says we need some gold music.
(Daniela! I made one of the first Bitcoin Songs ten years ago, “Bitcoin Barbarians” all about what’s going on now, inspired by a phrase Max said way back then!
My gold song, “Coins and Crowns” was used by Mike Maloney in his series ‘Hidden Secrets of Money’ with over 5 million views! All of my original songs are about or include the word gold and the coming reset, before all the talk about a reset became mainstream! And Jim Rickards mentions me in the forward of his book “The New Case for Gold”. :). I need to market myself better! )
ELON MUSK
Daniela points out that people are scared that the price of Bitcoin drops just because a billionaire tweets something against it.
Max says there’s been 15 price corrections in the past 12 years and that this one is an average correction.
When the price corrects it shakes out the weak hands. (This means the people who don’t understand the technology and didn’t do their own research sell when the price drops.)
Volatility in Bitcoin is something we want because it’s a tradeoff we accept. Holding fiat money may have stability but it means our money will lose purchasing power over time. Holding Bitcoin is volatile but you’re guaranteed to increase purchasing power over time.
Max was a fiduciary, a money manager and a stock broker on Wall Street for many, many years and you never use the word “guarantee” but Max believes he can guarantee purchasing power will increase with Bitcoin.
There’s some volatility in exchange for that increase over time. Bitcoin has a 200% annualized rate of return for ten years.
CHINA
China is getting out of the Bitcoin business right now. But that’s okay because Paraguay, Guatemala and Texas are going to get into the Bitcoin business.
Texas is going to inherit all of the Bitcoin mining from China.
It’s great that China is getting out of the Bitcoin mining world because it means that it’s more decentralized.
China is making their own digital currency (CBDC) but that’s just more centralized fiat currency.
TEXAS
Texas has historically loved sound money and they’re the new heartland of the Bitcoin mining world.
Only Bitcoin is decentralized. Gold is not. Fiat is not. The alt-coins are not.
2021 BITCOIN PRICE TARGET
Max still has a $220,000 per Bitcoin target for the end of 2021.
The fundamentals that apply to Bitcoin are only getting stronger.
Countries are taking Bitcoin on as money. In the case of El Salvador it will be running parallel with the US dollar.
But with Bitcoin individuals will have the right to take control of their own private keys, so their money is outside of the state’s control.
It’s the same thing everywhere.
The El Salvador government is asking themselves why they should be in the central banking business – they can outsource that to Bitcoin and use geothermal energy to mine it, which is free.
The market cap for this new entity is $400 trillion US.
Bitcoin will reach new all-time-highs soon.
Max owns a boatload of Bitcoin and he went all in very early. He could buy more here and there but his cost-basis would still be about $200, among the lowest of any major position anywhere in the world.
Max is hodling.
When will he be selling?
He doesn’t want to recirculate Bitcoin into the fiat money world, because that would give fiat money and the bankers and central banks more power. He wants to starve them by taking fiat and putting it into decentralized Bitcoin (take it out of the central bank system).
Max is waiting until there is an economy run with Bitcoin before he sells any or buys products and services with it.
MAX’S GOAL
Going back 20 years when Max and Stacy started doing their shows, it’s always been to attack central banks and fiat money.
Bitcoin is the perfect tool and weapon in that sense.
He’s not looking to compete with central banks. He is looking to destroy central banks, because they are the root of all of the problems of inequality, the problems of the environment, the problems of over-militarization, and all the issues where we know it stinks – all because of money printing by irresponsible central banks (printing fiat backed by nothing, benefiting the elite class at the expense of everyone else)
WALL STREET
When Max started on Wall St. the interest rates were 20% because Paul Volker (Chair of the Fed) took his job seriously dealing with inflation.
INTEREST RATES
Inflation now is about where they were when Volker took rates to 20%. But today they’re discussing whether they should raise them to about 2.5%.
It shows you the power of QE.
It shows you how they changed the Fed mandate from lender of last resort to the buyer of first order – they just buy everything that Wall Street produces.
The Swiss Bank is one of the biggest owners of Apple stock.
They print money (backed by nothing) and they buy Apple stock.
That’s not a central bank. That’s neo-fascism.
What good does that do to the people who live in Switzerland?
The Bank of Japan owns securities that are over 100% of Japan’s GDP.
“The BOJ has become the world’s second central bank after the Swiss National Bank and the first among Group of Seven countries to own a pool of assets bigger than the economy it is trying to stimulate.” – Reuters Nov 12, 2018
The housing market in the US was up 20% last year because Blackstone is borrowing money from the Fed at 0%, buying up thousands of units, and jacking up rents.
That’s not a free market.
That’s an apparteid state. That’s what it looked like in South Africa. In the US you’ve got Interest Rate Apparteid, (all citizens cannot borrow at 0%).
FRANCE
In France, Louis Vuitton bought US iconic company Tiffanys. https://www.lvmh.com/news-documents/press-releases/lvmh-completes-the-acquisition-of-tiffany-and-co/
Who loaned Louis Vuitton the money to buy Tiffanys?
The European Central Bank under Christine Lagarde.
The interest rate of the loan?
Not zero.
Less than zero percent interest.
One of the richest men in the world was given the money at less than zero percent interest to buy the jewellery company Tiffanys.
What did Jeff Bezos pay to borrow the money to buy Whole Foods?
Zero percent. Cost him nothing.
So if you have a group of industrialists who are allowed to borrow money at zero percent from the central bank to buy up huge swathes of the productive economy, and keep the profit for themselves, that’s not capitalism.
It’s not capitalism.
It’s not democracy.
It’s fascism.
It’s the fusion of the banks and corporations.
BANKS
Did any of the banks pass the stress test of 2008?
No.
If we had an event like 2008 again would any of the banks have any liquidity at all within ten minutes?
No.
The banks are technically insolvent.
Without having that multi-trillion dollar gift coming out of the Fed’s faucet every single day they would immediately have to declare bankruptcy.
CENTRAL BANKS
Daniela points out that the central banks evolved from being background players to being “the” market.
Alan Greenspan became a celebrity on the cover of Time magazine.
Central bankers became the center of the universe.
The era that Max came up through transformed finance and economics, (Wall Street), from somewhat sleepy background noise to being a central part of our lives.
Then came CNBC and business television with things like Jim Cramer.
Jim Cramer is emblematic of a transition away from stocks and bonds as investments that people made to ensure future prosperity for themselves and their children.
It became entertainment.
ENTERTAINMENT
The entertainmentification of Wall Street has had consequences.
We see it today with Wall Street Bets and Gamestop.
We see it today in how social media takes companies like AMC and Gamestop on these wild rides.
It’s all driven by cheap money, cheap access to social media, and the attitude that stocks are entertainment.
SAVINGS
The result of finance as entertainment is that it’s made the idea of savings passe.
Anyone who wants a feeling of integrity and self worth would want savings.
You can’t have capitalism without capital.
You can’t have capital without savings.
You can’t have savings without offering an interest rate that encourages people to save.
If interest rates are zero then all the models are broken.
You can’t create a model with value in the future if rates are zero or negative.
DEBT
In this economy where you get the tax breaks associated with taking on large debt, you can use debt to your advantage.
The vast number of people would rather save money at 4 – 5% and buy stocks to hold onto for 20 years, and have a nest egg and have something to pass onto their heirs.
Right now you have to game the system using debt and tax breaks, and most people know that it’s detrimental to the economy as a whole.
The debt system tears at the heart of institutions.
We see rioting. We see people dead from overdoses. We see the income inequality, the difference between incomes, skyrocketing beyond even the Robber Baron era.
That’s because people have decided that institutions like churches, schools, universities, civil service and your local PTA meetings can all be commodified, turned into securities and sold on Goldman Sachs as a bond to pension funds, and then go bankrupt.
Everything has turned into a security and therefore there is no security.
FUTURE
Societies need values. You can’t all be professional gamblers.
That’s what we have right now.
Companies are gambling with securities from Wall Street.
Back in 2008, not only was Goldman Sachs knowingly selling its customers fraudulent securities, they were also betting on those customers that they would fail based on them buying those fraudulent securities.
The current central bank system has fraud to the power of fraud.
GOLD
Gold has a remarkable performance of returning 1% over inflation over one hundred years. That’s what it’s going to do.
That’s fine if you want to do that.
If you put 10% of your portfolio into gold as a hedge what do you do with the other 90%?
The other 90% is in fiat which is garbage and losing purchasing power over time.
The central bank model of debt and creating money backed by nothing creates a devolving system where the end participants need to gamble and game the system at others’ expense in order to succeed personally.
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My THOUGHTS…
With social media we’re shown the winners posting their success, leaving others thinking everyone but them wins. But the one who wins is not the many tens of thousands, or more, who lost. The losers are quiet and ashamed when the real cause is a lack of level-playing field and fraud in the entire system.
Having to be lucky to be able to reach your goals or feed your family is not a system that will survive.
The average person has trouble screwing over others in order to personally gain.
A society steeped in debt ends by being absorbed into a larger system that feeds off of the citizens (like a vasal state paying tribute), or it breaks apart because those who are without food or hope rise up to overthrow their rulers.
My song Coins and Crowns explains this. Coins and Crowns is part of the soundtrack for Mike Maloney’s Episode 1 of Hidden Secrets of Money.
My song, Bitcoin Barbarian, was written based on the phrase “Bitcoin Barbarians” Max Keiser said a few years ago.
BITCOIN BARBARIANS
Ruled and run by a dollar and a gun,
The world is spun by some media fun,
And the Ponzi game in Caesar’s name
is virtually done
There’s a new race
The Bitcoin Barbarians at the gate
Opened wide, the peasants can’t wait
‘Cause they were robbed while the bankers played
So the penny’s going to drop in this coin race.
Circus shows for the taxed and owned
Bread in Rome while they reap what’s sown
The Ponzi game in Caesar’s name
is virtually done
There’s a new race
The whole of society has moved from mechanical to electric. It’s the swing from yang to yin that the universe goes through in repeating cycles. We’ve gone from learning step-by-step as a mechanical assembly line or a strip of highway, to being in a world of instant off and on. Light is instant and so time changes meaning because we no longer have to go to bed when the sun goes down. A whole field is lit all at once. So we learn by inspiration. Eureka! Insight. Alchemical. Thoughts and communication changes from one-to-many, as in mainstream media, into many-to-many as in the internet. Decentralized. It’s a mathematical certainty. It is the snowglobe we live in. It is the ocean the fish swim in. We are inside a frame and we don’t know it until we go outside it beyond. But then we are in another frame and don’t see that. Such is consciousness. It’s all connected.
Max Keiser calls Bitcoin the money of peace because he believes a decentralized monetary system is possible. I really like that idea. Thanks, Max. I loved this interview.
Sorry I can join you all in Austin. Can’t wait to be at an event in the future. You’re welcome to use Bitcoin Barbarians in any way you’d like.
Elaine~
Bitcoin donations: 1NiwT1PjmbJHT9LZcHHerL4TxMrJg8veaF
Thank you for supporting the blog!
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Thank you to Jim Rickards for including me in his bestselling book The New Case for Gold.
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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.
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July 4, 2021
BITCOIN PRICE
GOLD PRICE
SILVER PRICE
via Gold Price
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From the Cariboo Gold Rush Trail trip.
I’m creating jewellery from ethically sourced, fair paid, locally placer mined gold from the Gold Rush Trail.
Each handmade jewellery box comes with its own resin river containing a flake of gold direct from the Gold Rush Trail. The river comes from my personal trips hiking into the woods to a hidden waterfall along the trail.
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Coins and Crowns
words and music Elaine Diane Taylor
SOCAN/ASCAP
from the album Coins and Crowns
Coins and Crowns is featured in Episode 1 of Mike Maloney’s documentary series Hidden Secrets of Money with over 5 million views.
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Not Much of a Holiday (Bank Holidays and Media Persuasion)
words and music Elaine Diane Taylor
Single available on iTunes and wherever you like to purchase your music.
Available on the site Store.
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A Terrible Breeze (War and Social Media)
The news comes down
A little bluebird sings
Words of war
Fire and furious things
Of testing might
‘Til no patience knows
If keeping still
Still keeps you safe at home
It’s a terrible breeze
They speak of today
Of threats that used to live a world away
We all know wind
Can blow both ways
And a terrible breeze can blow it all away
A worldwide net
Sees our village grow
Until we all forget
What each one used to know
How a blind bird’s wings
Can reach the shore
And turn the wheel of peace and war
Village fools sinking down, down, down
Debt and gold wound in numbered shrouds
Deal of a life it’s bread and clowns
Can we afford another go around?
The news comes down.
It’s a terrible breeze. The news comes down.
words and music Elaine Diane Taylor
Single available on iTunes
Available on the site Store.
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Preparing for the Fall live boutique album available for digital download now — featuring Wag the Dog, Black Swan Dive, American Pie and Gods of the Copybook Headings. Also available on iTunes, Google Music, Amazon Music and major digital distributors.
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The Gods of the Copybook Headings
words by Rudyard Kipling and music by Elaine Diane Taylor
from the album Preparing for the Fall.
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
from the album Coins and Crowns.
“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“. The world is changing as we know it.
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