COMMENT: Mr. Armstrong, I’m a newcomer. I watched your WEC nearly. It was very eye-opening. I additionally need to thanks for Socrates and for masking Bitcoin. Your service is the one factor on the market that isn’t biased, and you aren’t making an attempt to promote me some crypto. Additionally, thanks for explaining that nothing will be mounted and that the gross sales pitch behind Bitcoin was simply false. You have got defined it’s an asset class and method it like anything. It’s only a commerce. I take a look at it in numerous currencies, as you mentioned. It has opened my thoughts to a dynamic world, as you place it on the WEC.
As soon as once more, thanks.
Paul
REPLY: With the political chaos surrounding us and the push for conflict, these are the occasions that trigger capital to maneuver. Have 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. Once you take a look at Bitcoin in varied currencies, you’ll be able to see that it’s getting used as a automobile 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 get together. He expressed this finest through the Panic of 1893. Capital can flee and transfer offshore. It’s the center class that can’t hoard their labor or transfer it offshore with out leaving their nation.
Bitcoin is a buying and selling automobile, and it will not be suited to a reserve forex because the cash provide MUST improve with inhabitants and the enlargement of the financial system, or else you create deflation. However, it has turn out to be a world digital technique of transferring cash, and that is occurring proper now, so it is very important take a look at something from a worldwide perspective. Bitcoin has turn out to be like gold, which is identical product that’s traded internationally. That makes it an fascinating, distinct worldwide class.
We’ve got extra subscribers to Bitcoin than most likely everybody else mixed as a result of it’s a separate worldwide class like gold.
