Max Keiser Bitcoin -The Worse Is Yet To Come

Max Keiser Bitcoin -The Worse Is Yet To Come

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This is the week that set in motion the end of Bretton Woods. August 15, 1971, President Richard Nixon went on live television in America and announced the closure of the gold window. This was the closure of petrodollar because it replaced the dollar in the 70s. According to a Twitter user,
"Take a step back and look at the magnitudes of how Bitcoin settled the equivalent of $2.1 trillion in the first half of 2021. That's 10% of the US GDP.

This shows we're heading towards a global Bitcoin standard where fiat money will disappear completeln this report, Max Keiser and Stacy Herbert take us back to the historical end of Bretton Woods. They also discuss the current magnitude of the fraud, volatility, inflation, and stimulus package.

Lastly, they examine Bitcoin's potential of displacing fiat currencies as the preferred store ofy not just because of inflation but because people are using Bitcoin as a unit of account, a medium of exchange, and a store of value. The huge rise in Bitcoin adoption can't be denied. It's like there's a huge Meteor called Bitcoin coming to planet earth which scares astronomers.

We've seen the magnitude of the fraud, the magnitude of volatility, crashes, asset purchases by the Fed, and magnitudes of stimulus packages in the US, Europe, Australia, and other parts of the world. Lyn Alden reported that the IMF approved new SDRs valued at $650 billion to be credited to the reserves of member nations. This more than triples the SDR market cap outstanding and is another small step towards a more diversified or multi-currency global reserve system.

The IMF and the Special Drawing Right (SDR) will now provide the currency that will ultimately absorb all the debts on all the balance sheets of all central banks of about $100 trillion. Central banks will provide a huge bailout for Wall Street banks as a way to keep the "global Ponzi scheme" going.

The numbers are humongous. But the bigger numbers of Bitcoin are ahead. Bitcoin is going to be a permanent fixture going forward until the fiat money is vaporized and goes to zero. Current events are chaos and signs of disintegration that start before any empire collapses. Historically, this kind of chaos happens during the fourth turning.

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