Greg Hunter – Financial analyst Andy Hoffman contends Bitcoin and other crypto currencies are the new threat to central banks’ power over fiat money. Hoffman explains, “Now, the powers that be are facing a new threat.  It’s a threat.  I think even a bigger threat to their monetary hegemony than gold and silver, and that is Bitcoin.

Now, there is a decentralized monetary system that is in its early stages.  People say it can never be money, but it’s only been around for nine years, and it’s already taking on those properties.  Bitcoin is going to take the pressure off of gold as the primary threat to the cartel.  It’s always been a one front war against gold, which they have handled in the paper markets to the point where they have almost destroyed themselves.  They are running on fumes.

https://youtu.be/FlMKI9fcLMs

Now, it’s a two front war because the physical gold and silver markets are as tight as ever, and now they have a decentralized crypto currency markets, particularly Bitcoin to fight.  I have a feeling once Bitcoin gets bigger, and the market cap is $50 billion, they will realize this is our day to day transactional enemy.”

Hoffman goes on to say, “I don’t think anything has destroyed humanity more than fiat currency. This is the time when technology has been created that is going to be able to get around that and beat the governments.  At the same time, it is going to be able to liberate gold and silver to do what they have always done best, not be day to day money, but to be monetary value.

Decentralization is the monetary value of the future.  Gold is decentralized just like Bitcoin.  Gold is best used as a store of value.  When it is unleashed, it is going to have a parabolic surge just like Bitcoin.  It’s going to become scarce just like Bitcoin.  It’s going to be in the news just like Bitcoin, but it is going to have a completely different use, and that is to store value for generations.”  Hoffman adds that silver is also “dramatically undervalued.”

Hoffman contends debt is the main problem with the economy. Hoffman says, “There is so much debt in it that even a tiny bit of interest rate increase is killing it further.  Yes, they have had the stock market go up, but what have they created?  They have created Dotcom valuations in an increasingly Great Depression era, which, by the way, are only being enjoyed by 1% of the population.  The largest most destructive Ponzi scheme is at its end.  You can’t do anymore.  They can’t anymore say the economy is getting better. . . . All the market manipulation and money printing is dying.  All that’s going to be left is hyperinflation.”

In closing, Hoffman gives a warning about crypto currencies and says, “You can compare it to the Dotcom bubble. You will have barely any winners, but some of those winners could be some of the biggest winners of all-time.  You are going to have a tremendous amount of losers because a lot of them are scams, and a lot of them are just attracting hot money.  So, you better do your research. . . . The only one I have any faith in is Bitcoin because it is the only one that can be a game changer for the world and for the gold and silver market.”