| Teach |
04-22-2021 03:19 PM |
Gold and Bitcoin vis-a-vis The Banks
This article, below, was not written by me; yet I found it most interesting when it comes to gold and Bitcoin vis-a-vis the banks. I have paraphrased it.
Banks hate any investment vehicle that competes with their fiat (paper money) currencies and thus their control of world financial markets. Banks can and do (spoofing) manipulate gold; thus, as a result, the gold market has suffered. Yet, that market is allowed to exist as long as it can be controlled, at least to some extent. Banks can't manipulate Bitcoin, so investors flocked to it. Unfortunately, when banks can't manipulate something, they will eventually (in this writer's opinion) try to destroy it. Someday, when central banks offer their own digital currency (that day will come) governments will make it illegal to trade with anything else; that is because inflation IS a tax and governments will not gain benefit from something trading outside their control and their ability to inflate. I think that Bitcoin investments are like betting on the ultimate size of a party balloon. At some point, the balloon will bust, and the only winners will be those who sold that balloon. I believe time will bear me out.
|
