Martin Armstrong: Cryptocurrency & the Race for Money

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Posted by Martin Armstrong - Armstrong Economics

on Friday, 19 January 2018 04:33

Cryptocurrency-bitcoinMartin Armstrong argues strenuously its "nonsense" that Crypto Currencies are free of government. Governments simply will will not allow that to happen. Safety? If the electric grid goes down you've got NOTHING he says. The global power requirements for Crypto Currencies are massive as this article points out: The electricity used to mine bitcoin this year is bigger than the annual usage of 159 countries- Money Talks ED.  

QUESTION: You have talked about bitcoin and are rightly skeptical as we all should be, yet creative destruction rolls on. What insights do you have to share about the Dapps and Ethereum? In reading your blog for several years now you have truly opened many peoples minds. Thank you for your insight!


ANSWER: If you want to trade Bitcoin, use the futures. The futures market will bring stability to the price and open the door for hedging what is otherwise at times an illiquid market. Understand one thing. This is all part of the shift from Public to Private. Cryptocurrencies are marketed as some magic money that will be free of the fiat world of government. That is total nonsense for governments will by no means allow that to happen. Nevertheless,  this is part of the same anti-government movement that brought Trump to the White House, BREXIT, Catalonia uprising, Ukraine revolution and so on. This is the rise in the stock market and the shift of capital from government bonds to equities. This will all end in a monetary crisis event perhaps as soon as 2021.

Keep in mind that Coinbase had to give up everyone’s name to the IRS and they sent out notices warning people they better claim their profits because the IRS will be looking to audit anyone trying to hide their gains from taxes. The technology of Bitcoin is inferior to other currencies. I believe in the end, we are moving toward electronic money but the governments will control it. This idea that somehow it is safer because it is outside the central banks is really nonsense. So is gold, commodities, real estate, and shares. There is a huge void with respect to counterparty risk in the cryptocurrency world and the fees to use this stuff are outrageous. I do not see this as a viable situation moving forward in time. It also requires a power grid. Take that out and you have nothing. The good old tangible things will always survive. If society collapsed, electronic money in all forms may not survive. Also remember that today only about 4% of all transactions take place in paper money. We already live in an electronic monetary system.

....also from Martin:

Politically Correct Trading – A Whole New Challenge



Bob Moriarty: Get Ready For A Cascading Default From The Crypto Crash

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Posted by Bob Moriarty via Energy & Gold Ltd.

on Thursday, 18 January 2018 06:27


Chart from Clive Maund

Bob Moriarty, founder of 321gold, has been adamant about Bitcoin and cryptocurrencies being the biggest bubble we’ve ever seen. He has been incredibly accurate in our recent conversations, calling Bitcoin a bubble that had burst in our last conversation on December 22nd, even offering a prescient quote “the bubble has popped but most people don’t know it yet.”

He hasn’t become any more optimistic on cryptos in the last few weeks, in fact he sees a much deeper decline coming and this time Bob offers somewhat surprising advice to investors given his usual bullishness on precious metals.

....continue reading HERE


....also from Bob Moriarty:

Altamira Begins Releasing Results




Victor Adair: Momentum Accelerates

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Posted by Michael Campbell & Victor Adair

on Tuesday, 16 January 2018 13:45

Victor Adair on the US dollar Index breaking down sharply lower below the 2016 & 2017 lows in first few weeks of 2018 while stocks, crude oil, interest rates & Gold move sharply higher 

Screen Shot 2018-01-16 at 1.41.07 PM




A Precise Target for Dollar's Plunge

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Posted by Rick Ackerman

on Tuesday, 16 January 2018 06:39


The 91.57 downside target we were using for the dollar looked promising as a place for a powerful bounce to occur. Instead, sellers crushed it on Friday, putting in play a significantly lower target at 88.29 that I would rate as almost certain to be reached.

If so, it would add 2.9% to the Dollar Index’s so far 12.4% decline from the 103.82 high recorded a year ago. It would also undoubtedly quicken the inflation drumbeat we’ve been hearing recently from the usual, benighted  sources — i.e., the news media, professional economists and talking heads. I expect my new target, a clear and compelling Hidden Pivot support, to resist sellers for a while, at least. But if it gives way relatively quickly — and by that I mean within a day or two of first being touched — I would infer that the U.S. dollar is headed significantly lower. At the same time, we could expect to see the continuation of some big trends, including lower prices for Treasury bond and notes, and higher prices for stocks, crude oil, precious metals and of course bitcoin. 

click here for a two-week free trial to Rick’s Picks



Dollar Tumbles As Euro Soars To 3-Year High; US Markets Closed

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Posted by ZeroHedge

on Monday, 15 January 2018 06:53

With US markets closed for holiday, it has been a quiet, low-liquidity European session, with Asia similarly subdued, while continued USD weakness, now in its 4th consecutive day, has been the main focus as Bloomberg’s dollar index approached its lowest level in three years, helping push the euro up to its strongest since 2014.

Indeed, in lieu of active equity markets, it's been all about FX and the tumbling dollar and overnight the EURUSD rose to a new three year high just shy of 1.23 before easing off, while cable briefly rose above 1.38 - its highest level since Brexit - and the Mexican Peso was well supported by an unconfirmed Axios reports that was Trump softening his stance on Nafta, at least until Reuters denies it.

EURUSD 1.23 0

The Euro was boosted by growing expectations of tighter monetary policy from ECB, while the chance of a pro-European Union coalition in Germany also boosted confidence in the continent.

“The latest leg up in the euro has clearly come from optimism that the German government is moving towards an agreement for a coalition government,” said Investec economist Victoria Clarke.

....much more HERE


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