Max Keiser Bitcoin - What Happens From Here?

Max Keiser Bitcoin - What Happens From Here?

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In this report, Max Keiser and Stacy Herbert graphically illustrate the 50 years of fiat, excessive money printing, and the resulting periods of recession that have occurred in the past.
Below is the highlight of the discussion:

On August 15, 1971, then-President Richard Nixon shut the gold window, a policy referred to as the Nixon shock. 50 years later, we had the shortest recession in the history of the United States (February 2020 to April 2020). And with the accelerated parabolic printing of fiat money especially since 2008, we've had a pretty substantial crash in the market for any sort of intervention.

In 1987, Wall Street crashed by 20% in a single day. But now, less than 2% has crashed and the government has started intervening. In the future, everyone will suffer 15 minutes of recession. In a communist state, there is no recession and people live like slaves. We may eventually become a zombie economy.

It must be noted that volatility is the stuff of life, and you need it to create life. If you're trying to reduce volatility in your economy, you're invariably creating a prison in the 21st century. This is happening in the Western economies including Europe, Australia, and the US as they are increasing interventions. The UK has accumulated huge debts to make sure the economy stays constant.

Whenever you have a dictatorship or authoritarianism, you'll get the big dogs who get free money from central banks bidding up prices of their assets to all-time highs. Then, you have a permanent underclass of wage slaves growing rapidly in many countries now. Fiat money is partly responsible for this. But looking at Bitcoin, this is a completely different picture. It is outside of the control of central banks.

In 1972, Richard Nixon went to China to bring them into the global economy. Then in 2001, China became part of the World Trade Organization (WTO) on favored-nation status. These are cycles that are all coming to a head.

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Credit: RT (Full unedited video)
Keiser Report | Entropic Afterburn, Fifty Years of Fiat | E1730
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