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:
El Salvador
Price Forecast
Trading vs Hodling
Hashrate
Wealth
Nations
Fed Taper
Inflation
CBDCs
Silver
Gold
Regulation
synopsis by Elaine~
EL SALVADOR
Max and Stacy are currently seeking citizenship in El Salvador, the first country in the world to make Bitcoin legal tender.
They are helping with Volcano Bonds.
Max’s goal is to make El Salvador debt free.
PRICE FORECAST
Max started covering Bitcoin in 2011 when it was $1.
He had predicted Bitcoin’s price in November 2021 would be $220,000. The current price is $43,000 US.
In 2021 there was a collapse of Bitcoin mining and hashrate in China which has temporarily affected the price.
Max is postponing his target of $220,000 from 2021 to 2022.
The hashrate has since recovered.
Three things to keep in mind:
Price
Hashrate
Difficulty Adjustment
The hashrate precedes the price, so new highs in hashrate are followed by new highs in price.
The fundamentals have become stronger as the fiat money system is crumbling.
Inflation is out of control.
The Bitcoin network is getting stronger.
All fiat money goes to zero and so Bitcoin’s future is infinite.
Major hedgefunds are now openly saying that Bitcoin competes with gold and is taking some of its market share. Gold’s market share is about $8 – 10 trillion US, and Max believes Bitcoin will eclipse that.
TRADING VS HODLING
Max is a hodler (holder) as opposed to a trader.
He isn’t investing in Bitcoin, instead he is divesting out of fiat money and gold.
He’s fine being early as opposed to late, as the movement is inevitable.
Jay Powell (Chair of the US Federal Reserve) and the central banks around the world are in panic mode as they’re printing fiat money, backed by nothing, at a pace you can compare to Weimar Germany or Zimbabwe.
They are literally about to torch the global fiat financial system down to the ground.
Bitcoin is the only non-confiscatable and uncensorable money in the world.
HASHRATE
The hashrate is the strength of the network, it adds to the security and is something that no alt-coin, including Ethereum, has.
All alt-coins are centralized and vulnerable.
Bitcoin has the overwhelming majority of the hashrate in the cryptocurrency world.
Mining is profitable. The cost to mine is under $8,000 per Bitcoin. Max anticipates countries will start to mine.
He predicts a “hash race.”
When a country in the G7 starts to mine then it will set off the start of a race.
There are senators, governors and mayors in the US becoming pro Bitcoin.
WEALTH
Max says all fiat, gold and cryptocurrencies are subject to being confiscated or the value being inflated away, and that Bitcoin is the only real wealth that is not centralized.
Bitcoin is perfect money, that cannot be confiscated or censured, and that lets you start to think about the government around you.
NATIONS
African countries are adopting Bitcoin and with it they can leapfrog over the Wall Street banking system that kept them as like colonies.
Latin American and Central American countries will be joining El Salvador in moving away from central bank fiat money, as El Salvador’s economy grows.
With Bitcoin these countries can use Bitcoin to save and transact and they don’t need Wall Street banks.
CENTRAL BANKS
Lebanon’s central bank effectively collapsed so Max’s prediction that a central bank would collapse in 2021 was correct.
The EU central bank is very weak, as they all are, and the US Fed has more leverage that Enron did before it collapsed.
FED TAPER?
You can’t taper a Ponzi scheme.
The Fed should have interest rates up at 9 or 10% if they were doing their job but they can’t.
Even a 1% rise would obliterate their balance sheet. They’re in the weakest position they’ve ever been in.
They’re going to print more. It’s a pattern.
There’s no price stability and employment is a disaster. That’s supposed to be their mandate.
But the elite all own stocks, so the bail outs and manipulation for their friends is part of the extreme corruption.
Insider trading by politicians who make the laws that impact the companies is a conflict of interest.
It is the exact opposite of the Constitution and the Bill of Rights.
INFLATION
No one believes the government numbers. They could mask inflation numbers before because labour was outsourced to China.
If you look at loss of purchasing power then inflation is up at 15%.
Bitcoin fixes that because there’s a finite supply.
It’s a safe harbour because governments can’t just print more.
WEALTH GAP
The wealth gap is higher than it was back in the Robber Baron era.
With the ultra low rates, the insiders borrow and buyback their own stocks at their executive stock option price, and then cash out, making a lot of money.
They borrow at zero or near zero, buy assets, and then use those assets as collateral to borrow more.
Interest rates for the insider are super low but for the masses their credit card rates are still high.
The Goldman Sachs executives run the central banks around the world. They run the IMF, and go to Davos and run the current corrupt fiat financial system.
It’s a revolving door of corruption.
BITCOIN
Bitcoin is not correlated to anything. It is on its own vector.
Max predicts that Bitcoin will use 51% of all global energy and starve to death all fiat, alt-coins and gold.
In the short term it may be correlated to something, but in the long term it’s not.
It smashes all the rules.
MANIPULATED
Unlike gold, Bitcoin has encryption that is not penetrable. It cannot be manipulated. It also has infinite demand. Gold is being demonetized just as silver was demonetized.
In the short term there are derivative traders/markets and the games that could have an impact on price, but not in the long term.
CBDCs
China’s CBDC is meaningless. It’s just another centralized offering.
It’s the same as in history when China was on the verge of taking over the world but didn’t want their merchants to be so wealthy. So the government burnt down all their merchant treasure ships. Just like last year when they got rid of all their Bitcoin miners because Bitcoin is not centralized.
It’s a big mistake and they’ll have to come back in and buy Bitcoin at a much higher price.
SILVER
After the financial crisis of 2008, Bear Sterns was acquired by JP Morgan, who inherited this unbelievably large short position in silver.
In 2010, Max started a Crash JP Morgan Buy Silver campaign (my song Crash the Banks covered this), where if we could get the price of silver up to about $150 per ounce then it would have bankrupted JP Morgan and put them out of business.
The price went from $15 up to $50.
Then they increased the margin requirements and the Feds came in to bail out JP Morgan, once again.
That had the price drop back down to where it was before.
That unique situation doesn’t exist anymore.
GOLD
Max has been borrowing, using his gold as collateral, to buy more Bitcoin.
He plans to be completely out of gold and silver by the end of this year, and to be all in on Bitcoin.
He believes it’s the thing that will survive when the central bank system burns to the ground.
IMF
The International Monetary Fund and America has loaded up Central American countries with debt that they cannot pay as a way of controlling them.
Christine Legarde once said that Bitcoin is an escape hatch.
It’s a way for countries to be free from the control of the central bank system.
Also, Bitcoin has perfect price discovery so entrepreneurship is exploding at the grassroots level.
When they build it they can earn Bitcoin and keep it. It’s unconfiscatable.
MEDIA
Mainstream media does not have investigative reporters. They are peddling stories that benefit the elite and owners of that media. It’s propaganda.
They’re peddling war because it benefits the defence contractors who support the mainstream media channels – CNN, MSNBC.
Always look at who benefits.
GOLD
There are those who will buy and sell gold as inflation rises.
Max feels that as Bitcoin’s adoption and network grow stronger that he doesn’t need to hold his gold anymore.
Gold mining is an energy intensive business and Bitcoin is an attack on 51% of global energy.
He believes that at some point no one is going to bother spending any energy digging up gold anymore.
They’ll just ignore it.
Max predicts there will be a culture shift in India and China away from gold.
It’s like Noah’s Ark – some people got it and some people didn’t. Good luck. (hahaha)
FUTURE
When a G7 country, a sovereign wealth fund, or a Middle East country starts to dedicate huge resources to Bitcoin to buy and mine, that will start in motion a domino impact.
That will be the beginning of the end for gold and central banks.
We’ve outlived the nation state and outlived central banks.
REGULATION
When the US releases their digital fiat currency it will have no impact on Bitcoin.
Regulators have tried but they cannot regulate it.
China has banned Bitcoin something like twenty times.
India is trying to ban it.
You can’t ban Bitcoin.
Bitcoin is regulated by the Bitcoin Protocol. It’s perfect.
The central bank system can’t regulate it.
The regulators will start to buy Bitcoin.
Senators and Governors are buying it. Laws will come in that get with the Bitcoin wave.
They’re going to stop trying to regulate it and get on board.
Game theory has been at play from the first genesis block and it’s playing out in higher and higher levels of government and institutions.
ETHEREUM
Ethereum is centralized.
It’s unknown how many exist so it has unknown scarcity. Transactions have been reversed many times.
They’re moving to proof-of-stake instead of proof-of-work so it’s not secure.
There was 70% pre-mined and those insiders are pumping and dumping it.
The technology stinks.
PRICE
(Daniela’s price prediction for 2021 was $163,000 so she was closer than Max’s $220,000 prediction, and so she wins a cup of coffee. haha)
Max says to remember that you aren’t investing in Bitcoin, you are divesting from everything else, and so price itself is the least important aspect.
The fiat system is going to zero and the Bitcoin network is growing.
Short term trading is not what Bitcoin is about.
Max can be found on Twitter @maxkeiser
Daniela can be found on Twitter @DanielaCambone
Nothing on this site is investment advice. We’re all watching which way the wind is blowing.
……………………………………………………………………….
My THOUGHTS…
Bitcoin Barbarians, was a name coined by Max Keiser a few years ago. Max predicted people would rush to escape the crashing fiat system. Just like the peasants who let the barbarians in the gates of Rome.
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
Our society was built on the phonetic alphabet and the Gutenberg press. Our literate minds began to separate from the tribal, oral sounds of an interconnected life, and move into our private worlds of reading from left to right, and building understanding in a mechanical fashion.
The new digital electric world is a field of information that goes from off to on at the flip of a switch. Our thoughts change, our social interactions change, and the way we view each other and exchanges of goods and services changes as well.
We are entering a new system as we watch the current one strain to the point of collapse. Those in power want to pull the last morsels at the citizens’ expense. Those with extreme power are negotiating to try to keep that power in the coming new financial system. There is a goal by some to absolutely track and control each human’s information. All information. All medical, financial, education, movements and everything they ever say on the internet. What Max is talking about with Bitcoin is an escape hatch.
We’re all researching alone and together to formulate our own individual plans for the future.
My role is to view the change in society as larger than the shift into the Renaissance with the invention of the printing press.
The new technology causes distress as our bodies and minds adjust, and we are pushed back from the literal world into the digital world of instant, interconnected communication.
I’m songwriting this evolution back to the “ear” from the “eye”. To the tribal from the fragmented. To insight from rote.
Part of that change is money.
Part of that change is how information is moved.
It 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 like an assembly line or strip of highway, to being in a world of instant off and on. Electric light is instant and so time changes because we no longer have to go to bed when the sun goes down. A whole field is lit all at once. Eureka! Insight. Thoughts and communication change 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 beyond the frame. But then we are in another frame and don’t see that. Such is consciousness.
Max Keiser calls Bitcoin the money of peace because he believes a decentralized monetary system is possible. I really like that idea.
For NFT collectors, I’ve just released my Early Supporter Collection, which includes the song Bitcoin Barbarians.
Holders of NFTs in this collection will gain access to future NFT related bonuses, private drops and benefits created solely for Early Supporter holders.
The collection of 4 in the series is available on Open Sea.
https://opensea.io/collection/elainedianetaylor-earlysupporter
The series includes Another Week on Wall Street, We Know How it Goes, Bitcoin Barbarians and Excellent Radiant Peace.
Elaine~
………………………………………………………………………………………
Thank you to Jim Rickards for including me in his bestselling book The New Case for Gold.
Thank you to Mike Maloney for including me in his bestselling YouTube series Hidden Secrets of Money.
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.
……………………………………….
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.
……………………………………….
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.
……………………………………….
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.
……………………………………….
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“.
……………………………………….
Elaine Diane Taylor 