Loading ...Hi Bill, remember me? Mr. Copper?
I just read your article and offering one of my thoughts re bitcoin etc. Below are two parts of your story that brought back old memories, and my suspicions, regarding “POOF” gone in a flash.
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Your parts:
“The real dangers are several and basically involve a “poof” moment that does not exist with gold or silver. When I say “poof”, I am talking about “poof, it’s gone!”. Do not say this is impossible because it is not.
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Suffice it to say, in the case of Bitcoin, no one even knows who its creator Satoshi is, how does anyone know he did not install a backdoor when he launched it? It does make sense that the programmer has a back door doesn’t it?”
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Comment:
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Briefly. Back in the later part of 1970s ’77 ’78 ’79 when Silver was climbing straight up, like in the $4 to $48 range. My friend and I had adds in the local papers, “Silver coins for sale” and “silver coins wanted”.
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On the phone, many of the buyers were very open, for one example….”I have a deli, and cash, and I want to buy $100k worth of coins” Naturally we were just dabbling with buys and sales in the $100s to $2,000 range, not tens of thousands.
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When Silver sucked in all that unreported under ground cash, and then crashed, it took all the away, from thousands of small businesses, their unreported income. My thoughts were back then, the Banks increase the money supply excessively, with loans etc, and then take in or evaporate excessive funds from the tax evaders, and punish them. I assumed TPTB allowed that run up, and KNEW what would happen. Raised rates and killed all the “private” unreported inflation hedges.
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So this Bitcoin thing may have the same purpose, and the banks, CIA or gov’t itself may have been the actual creator on Bitcoin. They will collapse the thing when they feel the time is RIPE.