The Price of Bitcoin reaches above $50K again, but the fundamentals look horrible – September 5, 2021,

The price of Bitcoin reached $50K again but the fundamentals look horrible, with that said the flawed fundamentals supporting Bitcoin do not mean that the price of Bitcoin can’t go even higher. Price inflation in the real economy is sending economic deflationary signals to the marketplace, for reasons I can only speculate Bitcoin is defying the odds and rising in value, which could continue to happen for as long as the regulatory environment remains horrible and the Government continues to reward bad behavior with cheap Fiat Dollars.

A lot of borrowed fiat dollars are being used to support the rising price of Bitcoin, which to be fair is way more fun than investing in a company that actually produces something of tangible value. The digital U.S dollar is currently detached from reality and the crypto markets are taking advantage because to be fair, most people are looking for an alternative to the rule by fiat monetary system we’re forced to transact in.

If trading in Gold and Silver wasn’t demonized by the powers that be, most people would have dropped ruled by fiat currencies a long time ago, well, Bitcoin has and other cryptocurrencies are banking on fiat ruled money imploding on itself and quite frankly it looks like the crypto markets are going to win. Where the problem comes in, of course, is if Bitcoin is able to break the regulatory powers, because many of us would like to end legal tender laws and if this occurs, most of us will not allow ourselves to be slaves to crypto markets, because as I like to point out, the problems in the world today are less about the “central banks” and more about government regulations and government spending.

This for me is one of the areas the price of crypto gets it wrong, central banks have their rates stuck near zero because government policies all over the globe are HORRIBLE, so horrible that all governments of the world need welfare in their own fiat currencies. I think crypto is a manifestation of just how bad things are, Gold and Silver prices are price control, because of their relationship to the stability of commodity prices.

Oil price spkies as an example are causing price inflation EVERYWHERE, imagine if Gold and Silver prices begin to spike? Gold and Silver can be hoarded, meaning that they similar to Oil can bring the economy to it’s knees. OPEC since getting their oil monopoly back via the climate Alarmist can manipulate the price of Oil to suite their cash flow needs, Gold and Silver are different, because they’re used in industry, if Gold and Silver prices spike, it would be worst than a chip shortage.

Bitcoin, on the other hand, is a merely network, so its price appreciation only has value to the people betting on price appreciation and this to be fair can be infinite, because in the real economy Bitcoin is a casino. The current market doesn’t seem to support the current market price of Bitcoin, but there’s a lot of money out in the world to be borrowed, after all, we do have a fractional reserve banking system and these artificially low-interest rates fuel more borrowing and it appears a lot of that borrowing of money is finding it’s way into Bitcoin.

Interesting times ahead!