In the same category

Global Elitists: Bitcoin’s ‘Intrinsic Value Must Be Zero’, Bubble About To Burst

IMG Auteur
Published : March 14th, 2018
511 words - Reading time : 1 - 2 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
[titre article pour referencement]
0
Send
0
comment
Our Newsletter...
Category : Editorials

Allianz Global Investors, the investment arm of Europe’s biggest insurer, employees economists who say Bitcoin is absolutely worthless, and a bubble that’s about to burst. Allianz Global, which manages almost 500 billion euro, says Bitcoin “ticks off all the boxes” for a major asset bubble.

“In our view, its intrinsic value must be zero,” Stefan Hofrichter, the company’s head of global economics and strategy, wrote in a recent web post. “A bitcoin is a claim on nobody – in contrast to, for instance, sovereign bonds, equities or paper money – and it does not generate any income stream.”  Gold doesn’t generate an income stream either but has been a viable currency for over 2,000 years.

But according to Bloomberg, the investors at Allianz Global have more to say about Bitcoin. Additionally, they added that the world’s largest cryptocurrency “ticks all of the boxes” of the essential criteria for any asset bubble, including overtrading, “new-era” thinking and rising leverage, he wrote. Bitcoin mania is a textbook-like bubble, “one that is probably just about to burst.”

Hofrichter is far from the only person to make comments regarding Bitcoin’s value. Even Peter Schiff says the cryptocurrency is heading toward its “real worth” of $0.  University of Pittsburgh researchers have concluded it’s “an asset which has no value by traditional measures” and economist Nouriel Roubini called it the “biggest bubble in human history.”

Others, such as Jeff Berwick from The Dollar Vigilante, says that it isn’t the Bitcoin bubble we should worry about. We should be more concerned about the elites engineering an economic collapse and blaming the cryptocurrency as an excuse to ban or heavily regulate all sources of “money.” It is easier to believe the global elitists dislike Bitcoin, because of the mere fact that the currency is decentralized and regulating it is incredibly difficult.

But that doesn’t stop many in the global economy scene from continuing to bash Bitcoin while passively admitting the risks are small. “Bitcoin’s demise would have few spillover effects on the ‘real world,’ since the market for this cryptocurrency is still quite small in size,” Hofrichter said. “As a result, we believe that the risks to financial stability stemming from bitcoin are negligible — at least as of today.”

Google has also come out swinging against Bitcoin, saying it will ban ads for all cryptocurrency. Remember, the elites that run things are actively trying to keep things from the public.  There’s probably a very good reason why tech giants and the globalists who run them don’t want people involved in cryptocurrencies.  “Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” said Scott Spencer, Google’s director of sustainable ads, in a blog post. The post did not explain why digital currencies may be harmful.

This follows a similar move by Facebook as a part of an effort to” clear unregulated financial products off its platform.” Does anyone catch the keyword “unregulated” in there? If the elitists can’t control your money, they can’t control you.

Source : www.shtfplan.com
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Black Swans, Dead Cats, Live Bats, and Goodbye to All That
26 MarJ.
We will have to wait and see. It all comes down to demand. The current glut of supply will probably take a couple of years to clear. After that,...
Black Swans, Dead Cats, Live Bats, and Goodbye to All That
22 Marrokdok25
J - surely James' point is that shale oil is fundamentally uneconomic, in the past and certainly in the present. If and when the wheels of industry...
Things Have Changed
18 MarMr. Gnawbone
I enjoyed this article JHK, I been long expecting and have lived a full and beautiful life, but I raised my children to prepare and they are doing ...
Black Swans, Dead Cats, Live Bats, and Goodbye to All That
16 MarJ.
JHK - sometimes I wonder if you understand economics. Oil is cheap 'because' demand is down, and supply is way up. So, energy inputs to the ec...
Black Swans, Dead Cats, Live Bats, and Goodbye to All That
15 MarThemis0
I suspect Hillary, or her clone, is waiting in the Dem wings.
Like WTF? Gold Crashes with Stocks!
15 MarThemis
What I don't see in this article is a differentiation between the price of paper and physical gold, which I believe to be decoupling.
Doomsday
10 MarS W.
I drink 2 Coronas every evening and that is more than enough immunity IMO ? Maybe I will up it to 4 just in case. BTW if the shit really...
Things Take a Turn
09 MarJ.1
JHK may be correct as far as the world of finance goes. but to say that will bring about a world made by hand, is a bit of a stretch. However, ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS