Loading ...*Speaking of bitcoin, its latest price is $2,785. Only three months ago at Jeff Berwick’s conference in Acapulco the bitcoin aficionados were gleeful because its price was equal to gold right above $1200.
*The contrast between the bitcoin price and the gold price is a simplistic, but realistic, example of the amount of Gold Cartel price suppression … in play now and for so many decades. As James Turk notes, the price of gold should be around $3300 per ounce if it had just kept up with inflation.
While crypto currency is all the rage right now it is important to remember a few relevant things regarding its viability.
· The most recent ransomware attacks show once more how cybercrimes will only get worse with time. How long before Bitcoin is victimized?
· Would CB’s ever incorporate Bitcoin as a portion of their reserves?
· Would Sovereign nations incorporate Bitcoin as a portion of their reserves?
· Would high net worth individuals be willing to expose a large part of their wealth to potential cybercriminals?
· Since there’s no benchmark for labor, materials, and other landed cost the intrinsic value of Bitcoin is ZERO. What if a newer, greater cyber thing comes along? Gold will always have a minimum value that is quantifiable.