I am not a fan of Bitcoin, for several reasons:
1. Bitcoin relies on the continued existence of a worldwide electronic Internet.
In the event of WAR, the Internet will go down instantly. Goodbye, Bitcoins!
2. Bitcoin is quoted hourly, on CNBC, and its price does not suffer from constant attacks, as Gold and Silver do.
This signals to me, that Bitcoin is accepted by “The Powers That Be” (TPTB).
If TPTB accept the existence of Bitcoin, it means that Bitcoin does not present a threat to the fiat monetary system upon which the World depends today.
This can only mean that TPTB know that they can deal with Bitcoin at their pleasure, when necessary. In other words, there is no real security in owning Bitcoins. We have been lectured on the great security offered by Bitcoin, but we are ignorant about what knowledge the TPTB might have, of which we do not have any information.
3. The existence of Bitcoin is at the very lowest level of physical existence, since it is only an electronic charge.
When we grant this electronic charge a monetary value, this represents a leap of the imagination. If Bitcoin is money, it is imaginary money.
Imaginary money is nothing more than dream money.
4. Bitcoin has a monetary value, only because the – unknown – founder said that it had monetary value, and a few simple souls accepted that statement.
Once a few repeated the mantra “Bitcoin is money”, its “monetary value” began to rise. Fundamentally, Bitcoin is nothing more than a satisfying game to play.
But LIFE is more than playing games. When the time comes, that we have to have some real money in hand, in a life-or-death situation, Bitcoin is going to show us how many fools populate the World.
Written by Hugo Salinas Price for In This Age of Plenty ~ November 24, 2020
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About admin
Please allow me to introduce myself; I am Jeffrey Bennett, President of Kettle Moraine, Ltd., the parent of Sierra Madre Precious Metals.
I have been married for 53 years with two children and four grand-children, a veteran of Viet Nam, student of history (both American and film), and was host for fifteen years of Perspectives on America on the alternative airwaves, covering such subjects as, health and wellness, news, political satire, education and editorial commentary on current events through the teaching of history, and Protecting Your Wealth. In early 2018, I took a several month hiatus to complete some family business but returned to airwaves April 17, 2018).
At the age of ten, I sat in a bank-vault in the Citizens Bank of Mukwanago, Wisconsin with my grandfather going through bags of old American Peace dollars, hand-selecting each coin as dated rolls of 20 coins were carefully put together and rolled. Learning of the history of these beautiful pieces of Americana, I asked my grand-father, "Why are we doing this?" to which he replied, "Because someday they are going to do the same thing with the silver in our money that, that (S.O.B.) Roosevelt did with gold in 1933." It took only six-years for his prediction to come to pass at the hands of a disciple of Roosevelt's... and what will a Federal Reserve 'dollar' purchase today - and what will that old 90% Silver Peace Dollar purchase?
Although at the age of ten, there was little understanding of the meaning of it all, over the next half-century I became well-versed on the subject matter. During this summer of my education, I began to purchase silver coins as a collector and some small, international gold coins two years later - not an easy feat in the shadow of the Roosevelt confiscatory policies of 1933. Although those policies remained in effect until the mid-1970's, it was not until 1991 that I found that one could make a living providing precious metals and collectible, historic numismatic coins to a willing and concerned clientele.
It was also during that year, that I began a relationship with one of the first Trust companies to give the public access to gold and silver as part of an Individual Retirement Account (IRA) - and Kettle Moraine, Ltd., founded in 1995, but have ceased providing service due the the intense change-over of the provider.
In November 2011, after a 15 month broadcast on another network, I returned to the airwaves with my then revamped program, Life, Liberty & All That Jazz, and for over 28 years, I have been proud to serve the family of listeners of my numerous broadcast programs for physically-held precious metals for investors and collectors alike. On March 23, 2020 I launched my brand new - appropriately named program, The Edge of Darkness on the Republic Broadcasting Network, and thus continue to remain available to our long time clients and their families. Ah yes - find out what "inter-generational" wealth provision has done for our clients over the past three decades.
Don't buy the sizzle of that steak until you understand the cost! In other words, don't buy the bull being dispensed by the 'rare coin' pitchmen until you understand the full story. We, at Sierra Madre Precious Metals, will be proud to serve your needs.
