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Bitcoin is ripping higher, breaking out of its doldrums and recent lows.
There is a very good reason for this price movement - the US financial system has collapsed, engineered by President OBiden.
OBiden engineered inflation, OBiden and Bush engineering the running up of massive amounts of debt at Fed-manipulated zero interest rates.
Now we have to pay the interest rate shock piper, and the banks are the first to go.
Bitcoin is rallying because it is considered a safe haven for assets for the smart money.
Bitcoin cannot be manipulated. You can't print Bitcoin. It is immune from central bank nefarious behavior and corrupt politicians.
I wrote a book about this, in novel format, when I left Wall Street in 2011.
Bitcoin exists in a decentralized matrix - no one can destroy it.
Of course, governments can try to make its use illegal. That is the existential risk of Bitcoin.
But for now, Bitcoin is one of the only places money can go without worry it will be devalued. In fact the opposite it true -- its value will grow.
Globalist central banks will now try to build their own cryptocurrencies that can be manipulated and controlled. If you don't say the right things, your money will disappear.
That has nothing to do with Bitcoin.
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But it’s not portable. It requires a platform, and all platforms can be hacked and manipulated.
The State legislatures have been sent instructions to change their laws:
The new Uniform Commercial Code (UCC) being adopted NOW by the States includes this:
“‘Money’ means a medium of exchange that is currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries. The term does not include an electronic record that is a medium of exchange recorded and transferable in a system that existed and operated for the medium of exchange before the medium of exchange was authorized or adopted by the government.”
This language means that existing crypto currencies would not be eligible to be considered “money” by banks… a great way to make sure there will be no private competition for CBDC.