Josh Sigurdson talks with author and economics analyst John Sneisen about the recent growth of Bitcoin vs. gold and silver as the Google searches for “Buy Bitcoin” surpass searches for “Buy Gold.”
Gold and silver are great stores of wealth. It’s an insurance rather than an investment. However, since 2012 gold and silver have been incredibly manipulated by ETFs and derivatives. This has drastically affected the value. Gold and silver by all fundamentals should be much more valuable than they currently are. Physical sales are way up but due to all the ETF inflows, the price has been held down like a beach ball under water, with momentum to bounce up if not for the hand holding them down.
Banks like Deutsche Bank have been caught red-handed in court manipulating the price of gold and silver. Other banks in the same cases have been caught as well, like HSBC, Scotia Bank, BNP Paribas among many others. This has been incredibly detrimental to the value.
However gold and silver have survived millenias. The second the banking system goes down, gold and silver will fly far above their current value.
Gold and silver are based in scarcity, demand and application.
Now, many gold and silver bugs have shown a massive distaste for Bitcoin and vice versa.
However, Bitcoin is based as well in scarcity, demand and application. It is decentralized and misunderstood by so many as “fiat” when fiat by definition is legal tender currency that’s centrally planned (into oblivion).
The fact is, both are great. Bitcoin has made far greater leaps in recent times and has shown itself to be a massive threat to the central banking system as the world reserve fiat currency is devaluing enormously and ready to crash at any time. But after the crash, both Bitcoin, gold and silver will show themselves to be a great solution for the crashing fiat system.
In this video, we dig deep into the qualities of both.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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