It’s early Monday morning, and I am on fire. I am so disgusted at what the world has become – in such a short period of time – I want to both scream, and cry. Not that I had any new epiphanies about human nature, of the devastating impact bankers and politicians have had on not just my generation; but the “millennials” and “post-millennials” (like my four-year old daughter) as well. However, realizing just how close we are to the irreversible end game of global currency collapse; and all the horrific political, economic, and social ills that will result; is a pretty terrifying thought, no matter how much I have “prepared.”
That said, I did have a very, very, very significant “monetary epiphany” this weekend – as I watch Bitcoin rise to within a few dollars of its “adjusted all-time high” market capitalization, which I am told is roughly $697/coin). Which is, that the global monetary future is unquestionably digital. I.e., when all confidence is lost in Central banks, people will turn to non-centralized, non-managed, low-fee-generating crypto-currencies. Which, as I wrote in last week’s “Precious Metals and Bitcoin, twin destroyers of the fiat regime,” has nothing to do with rejecting Precious Metals; but to the contrary, embracing both as stores of value, and crypto-currencies for transactional utility.
Recall 2014’s “Is gold money? Who cares!,” where I said that I don’t own PMs because I anticipate a “gold standard”; but instead, because gold and silver are history’s best stores of value. Which, during what I anticipate will be history’s worst fiat currency collapse; let alone, after 15 years of production-crippling price suppression; will gain purchasing power more powerfully, and rapidly, than at any time in history. However, given that “gold standards,” like fiat currency regimes, must be managed by governments, I don’t believe it possible that they can exist in the future; as not only will trust in “monetary authority” be lost, but many “leading” governments, like the United States’, have NO MORE GOLD! Which is why, after watching countless videos from Bitcoin pioneers like Andreas Antonopolous, I am more convinced than ever that the world will choose its own forms of currency – be they Bitcoin, Ethereum, or one (or many) of the thousands of others that have been recently created, or will be in the future.
Just as PMs and Bitcoin are not monetary “competitors,” but staunch allies in the war against fiat currency, there is no mutual exclusivity regarding which crypto-currencies will “win” in the long-term. Personally, I own Bitcoin for the same reason noted above regarding my ownership of Precious Metals. Which is, not because I am “sure” Bitcoin will become a monetary standard; but because, due to its first mover advantage; relatively long crypto-currency history (enabling it to develop “monetary properties”); and most importantly, the code that limits its “printing” to a mere 21 million units (of which, 15.8 million have already been created, and an estimated 1.5 to 4.0 “lost” to poor “storage” techniques); it will be the most likely to store value – and likely, dramatically increase purchasing power. Perhaps, more than any “investment” in financial history.
While you digest that enormous mouthful of critical, future-changing analysis, let’s get back to today’s dire article title – of how the end game started this weekend. And consequently, that you must protect yourself NOW – both monetarily, and otherwise! What changed, you ask? Well, in my view, a great many things; none of which are surprising – and all of which, in sum total, fortify my powerful belief, which I have vehemently espoused all year long; that the world WILL NOT survive 2016 without catastrophic economic and/or financial market event. And hopefully, not a political, social, and/or military event as well.
To start, Bitcoins’ meteoric surge to the aforementioned all-time high, which started Saturday afternoon at $570, taking it to the cusp of $700 as I write. Of course, the moronic MSM, desperate to “blame” the surge on something other than the collapsing global fiat currency regime, continued to harp on Chinese fears; of Chinese capital controls; a Chinese Yuan devaluation (validated by last night’s weak Yuan “fixing”); and Chinese economic woes (validated by last night’s horrific, across-the-board Chinese economic data). However, in my view, the reality of the situation is what I just wrote of – and spoke of on countless Audioblogs and podcasts, such as the MUST LISTEN Greg Hunter podcast released yesterday. Which is, that fear – of all Central banks and governments – is reaching its own denouement, just in time for what I last month described as the “most important, and Precious Metal bullish, election in history”; i.e, the June 23rd “Brexit” referendum. Which I beg and plead everyone to pay attention to, by not only watching “Brexit, the Movie”; but the fantastic Stefan Molyneaux podcast I highlighted last week; and the fiery, anti-EU diatribe at the end of this article. For weeks, the David Cameron/Barack Obama-led propaganda of unbeatable “BrEmain” support has dominated the MSM. However, just ten days away from the big day, such lies are imploding as rapidly as global confidence in fiat currencies.
To wit, this weekend’s “shocking” poll, showing the “leave” faction now leading the “remain” group by a whopping 19 percentage points. In other words, the end of the horrific, citizen-destroying European Union is nigh – although god knows what political hell will replace it, and accompanying monetary and economic shocks. And yes, more and more of the world’s “big money” knows it, too; such as billionaire, high-profile hedge fund manager Paul Singer, who this weekend joined George Soros, Stanley Druckenmiller, Kyle Bass, Bill Gross, and others in claiming gold is the new go-to asset. Or, mirroring my sentiments perfectly, the words of a major European Chief Investment Officer, that “if the Brexit happens, gold will be the world’s strongest currency.” Not to mention, Jim Rickards, who tomorrow night will be holding a special conference call to discuss his belief that the most important monetary event since the 1971 gold standard abandonment – which he deems the “zero hour” – is imminent. And by the way, as I edit, Fitch just cut Japan’s credit outlook to negative. Long-time readers are well aware of my staunch belief that the “Land of the Setting Sun” will be the first “first world” nation to experience 21st Century hyperinflation; and frankly, it wouldn’t surprise me one bit if the land of “deflation” – which ironically, has one of the world’s highest costs of living – implodes in a fiery monetary hell within the next 12 months.
And last, but FAR from least, Saturday night’s horrific Orlando nightclub shooting – which, with 50 casualties and more than 50 injured, ranks as one of the worst in U.S. history. Regardless of the real story of how, and why, it occurred, it was in fact perpetrated by an Afghani-American, who purportedly called 911 moments beforehand to swear his allegiance to ISIS. In other words, anti-Moslem rhetoric – globally (let alone, 10 days before the Brexit referendum) – is about to go hyperbolic. And this, barely four months ahead of what will likely be an historic U.S. presidential election. Honestly, I am terrified as to what the Western worlds’ cumulative “policy response” will be; which is why, more than ever, I believe “the end game started this weekend”; and thus, that you should protect yourself – both monetarily and otherwise – NOW!
To that end, I hope that everyone in the Chicago area realizes that Miles Franklin’s next, FREE, NO STRINGS ATTACHED, “Q&A Rap Session” – featuring myself and our President and Co-Founder, Andy Schectman – will be held on Friday night, June 24th, just one day after the Brexit referendum.