Anthony Migchels - Bitcoin is a Ponzi Scheme
Wednesday, April 14, 2021 20:18
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“BTC is a total ponzi, going up because of new money, much from the printing press, coming in. And it will go down when money printing ends, which seems to be around now.”
by Anthony Migchels
(henrymakow.com)
BTC is and remains a totally bogus item. I hate to say it, but I agree with the likes of [Christine] Lagarde and others who say BTC is just a ‘speculative asset’, and not a means of exchange.
Market Cap is a Trillion now. If there is 10 billion worth of real, commercial trade in BTC, it’ll be a lot. This means that 1 BTC circulates……….every hundred years. That’s insane, that has nothing to do with ‘money’.
BTC is a total ponzi, going up because of new money, much from the printing press, coming in. And it will go down when money printing ends, which seems to be around now.
Also, I’m suspecting BTC did its job for the Banksters: it made electronic, cashless money hip. It indeed paved the way for a Global, Cashless Currency. But it won’t be it. It’s going to be regulated to death, once it crashes, I think.
The real cashless electronic currencies will be run by the Central Banks, not some ‘free market’ outfit. China incidentally just last week started theirs, it’s operational now. The ECB, BoE, the Fed, they’re all developing their own.
I very strongly suspect we could see a crash in months. Here’s why:
a) The Lockdown planning that you posted a few days ago. That states ‘end of Q2 economic collapse’.
b) Demands by the Fed for higher capital reserves by banks and hedge funds. This is being down played, but I have a very bad feeling about that one.
c) Rising rates on the Bond Market. This really means the Fed is losing control. That’s the last thing they want. That is: World Power wants it, but the Fed is dying.
GOLD
This is the real issue. You said, and I totally understand, that a Gold Standard seems unlikely.
But the fact of the matter is: all Eastern Central Banks are loaded with Gold. Just this week it was reported that Hungary raised its Gold holdings 3000%, from three to a 100 tons in the last few years. This has been ongoing even in Western Europe, where Holland, Germany, have been (trying to) get their Gold back from Ford Knox. Russia and especially China have been buying incredible amounts of it.
And who is suppressing Gold? The Fed!
And who is dying? The Fed!! The Petrodollar! The US Empire!
Central Banks adore Gold. All the Gold Standards of the past were run by the Central Banks.
The BIS, the apex of the World Central Bank System, has been promoting deleveraging ever since 2008. And they will get their way, and Gold is perfect for a good, burning deflation/depression/deleveraging.
The Great Reset is about the ‘reset’ of the Financial System. That’s what it’s all about. Debt can’t grow anymore, there’s too much of it, debt service is no longer affordable. This is the key issue.
Something MUST be done, and soon now.
I suspect the catalyst events are going to be some huge defaults in the US. Germany too, but America is the key target.
Once these defaults come, or to prevent them, the reset is going to be made. I think that’s only months away. When that happens, the Fed will finally have to abandon Gold Suppression, and it will sore very high. There’s widespread support for Gold in the US among the patriots. Suicidally so, because it will destroy them.
America will then also start abandoning large parts of its Empire, especially Europe and the Middle East. America will reject the WEF ‘Great Reset’ and ‘sustainable development goals’ and will go its own way. They will end up isolated. Just as Kissinger was talking about the other day.
And this will set them up for the final clash.
CYBER ATTACK EXCUSE FOR RESET?
Officials were bracing for a range of scenarios — from payment utility breakdowns concerning individuals and large financial institutions to the financial system being brought to a halt.
“There are cyber attacks every day on all major institutions now,” Powell noted. “And the government is working hard on that. So are all the private sector companies. There’s a lot of effort going in to deal with those threats. That’s a big part of the threat picture in today’s world.”
He mentions it in the context of Fed electronic currency, of which he says it would come in handy when the Banks can’t manage the payment system anymore because of such an attack.
But we’re actually nearing a breakdown so big that the Banks could stop functioning.
So I take this as an announcement. This is apparently the scenario they’re planning to sell what’s coming.
—————————-
Source: https://henrymakow.com/2021/04/migchels-bitcoin-is-a-ponzi-scheme.html
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“That we’re actually nearing a breakdown so
Big that the banks could stop functioning”!!!
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The money system we have now is also a ponzi scheme.
Q. Should those that benefited from a ponzi scheme, or fraud, once uncovered, keep their ill gotten gains?