COMMENT: Mr. Armstrong, I’m a newcomer. I watched your WEC nearly. It was very eye-opening. I additionally wish to thanks for Socrates and for protecting Bitcoin. Your service is the one factor on the market that isn’t biased, and you aren’t making an attempt to promote me some crypto. Additionally, thanks for explaining that nothing could be fastened and that the gross sales pitch behind Bitcoin was simply false. You’ve defined it’s an asset class and method it like the rest. It’s only a commerce. I take a look at it in numerous currencies, as you mentioned. It has opened my thoughts to a dynamic world, as you set it on the WEC.
As soon as once more, thanks.
Paul
REPLY: With the political chaos surrounding us and the push for battle, these are the occasions that trigger capital to maneuver. Have a look at our map that tracks the capital flows day-after-day. Each the Chinese language and Russians are pulling again the capital from the West. The capital is fleeing the Baltics proper now, however Brazil can also be experiencing political chaos there.nWhen you take a look at Bitcoin in varied currencies, you’ll be able to see that it’s getting used as a car to get capital out of Europe proper now.
Graver Cleveland was the earlier president who, like Trump, was elected to non-consecutive phrases. Like Donald Trump, he additionally stood in opposition to his personal social gathering. He expressed this finest through the Panic of 1893. Capital can flee and transfer offshore. It’s the center class that can’t hoard their labor nor transfer it offshore.
Bitcoin is a buying and selling car, and it will not be fitted to a reserve foreign money because the cash provide MUST enhance with inhabitants and the enlargement of the financial system, or else you create deflation. However, it has turn into a world technique of transferring cash, and that is taking place proper now, so it is very important take a look at something from a worldwide perspective. Bitcoin has turn into like gold the place it’s the identical product that’s traded internationally.
