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RE: Bitcoin To Hit $10,000 Within One Year. By Gregory Mannarino
The only trouble I see with BitCoin hitting $10,000 is that it will only have the buying power of 100 dollars in Pocket Change... Naturally, PC will have that increased Purchasing Power of 100 Fold...
@pocketechange
I'm not sure how 100.00 of pocket change will have only 10,000 of bitcoin, or make a difference verses paper money. its what people are willing to accept and believe to have value is what makes it valuable.
I look at what happened in Zimbabwe and Venezuela, the value of their currency devalued so swiftly that all their coins couldn't buy you a week of groceries.
I even will go as far as look at Texas right now.
When the crisis hits, and something has to give, no matter what the reset is, whether the evaporation and worthless dollar, into a digital currency, which is what we have now, lots of places not even accepting cash these days, unless you have a debit card, you could have a fist full of 100's or a jar full of change and it wont get you a beer on a plane.
We are in some interesting and actually dark days, the people on the streets of Texas are looking for food and shelter, people are as always profiting from disaster. There are thousands just wanting to eat, would give all the cash in hand for it, so it really matters on just what the situation is.
But i do believe in they have to reset and have something to back it up, which brings me back to a gold standard, with china buying up Gold and Germany repatriating their gold, Russia stocking up,it gives a somewhat picture of where this is headed.
Even with a Gold Standard, the Gold will still be valued in Pocket Change after the RESET and Transfer of Wealth... The one thing pocket change has going for it is listed in Article 1, Section 8 of the United States Constitution which says... Congress has the Power to Coin Money and "Regulate" (RESET) the Value thereof... We won't be doing what Zimbabwe or Venezuela did... Yours was a great comment... Thanks...
@pocketechange
I love that your into the bill of rights, wish more people were.
I get what you saying, but with this generation of reaction and not taking time to learn history, they look to erase it, unfortunately that's what Stalin and hitler did, as well as every culture where they become dumbed down by burning books, believing in a leader who manipulates their minds and creates hatred toward each other, there's two things we learn from history that is in effect today, devide and conquer technique and the Hegelian effect of create a problem, have the solution and wait for the reaction.
As far as article 1 section 8
Congress controls the minting of money and (theoretically) sets its value. In practice, the creation of the Federal Reserve Bank in 1913 transferred most of the power over setting the value of the dollar to the Fed.
But after the last bubble bust in 08, the Fed reserve has not been able to balance its sheets. They are in a hopeless situation,
The imf has become the most powerful and after listening to Jim Rikkard about sdr rights, which is special drawing rights, the banks and special elite are the ones creating and destroying wealth.
It's why we will have a reset, and it will as far as I believe , backed by gold.
Great reply, but our Monetary System will never be backed by Gold or Silver... You'll still be able to buy Gold and Silver with our Medium of Exchange however... We can't set a permanent value on Gold and Silver... We tried that before and it didn't work... Our New (Debt Free) Dollars will be backed by Common Pocket Change... The National Debt will be paid in full and our Income Taxes will all be going down... We are about to make America Great Again, just like President Trump has been saying...
@pocketechange
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