If The recent Price drop of Bitcoin is signaling Deflation, Joe Biden is in a world of trouble – May 17, 2021,
Although most people are blaming the recent price drop of Bitcoin on Elon Musk, my sources have been warning me about this for weeks now and they specifically stated that the price of bitcoin will drop when the U.S economy begins its deflationary cycle and people need to start selling, not because they necessarily want to, but because they’re running out of money.
Are We reaching the Joe Biden Bank of America Cycle?
So I’ve been warning for weeks now, that the private sector is screaming for help in the United States. By help I mean HELP WANTED meaning please choose the private sector over the people’s Bank of Joe Biden. Joe Biden and his financially low-IQ administration don’t appear to comprehend that the FEDERAL GOVERNMENT HAS NO MONEY!
In fact, the Federal Government of the United States is trillions of dollars in debt, furthermore, it has obligations to provide SERVICES for Americans in the future that require a private-sector workforce to implement. If you live in a nursing home as an example, you need HUMANS to take care of you and if these humans are being incentivized to stay home, they’re going to create a deflationary super cycle.
Most people like to claim that the Venezuelan economy is suffering from hyperinflation, I like to point out that it’s not! Their financial sector is experiencing hyperinflation. In Venezuela their fiat money is worthless, but their actual economy is in a deflationary DEATH CYCLE.
Why did the Venezuelan economy tank via deflation? Because the government incentivized its citizens NOT to work. The Venezuelan government demonized their private sector, blaming it for all of the government’s financial problems, to the point that no private sector business in Venezuela would even manufacture toilet paper.
Once people stop working and receive welfare from the government, people get used to it, and will even accept a lower standard of living for a free government check. In Venezuela, this had been happening since Hugo Chávez but the Venezuelan government remained solvent because of the high price of oil, then the oil markets crashed and because Venezuela was reliant on imports, the Venezuelan crashed with the price of oil.
How this relates to the United States, is that the U.S economy is a fast-moving entity, because there are so many technical traders in the U.S economy, they see trends long before joe public sees them. It’s amazing to me how accurate my sources were to the decline of bitcoin.
They even said Bitcoin would experience a dead cat bounce things continue in the manner in which they are. Gold bugs should also be warned that this may not be the time to get into the gold markets, because the economy is DEFLATING and deflation isn’t good for gold.
Now, I’m not sure if the retail banks will be dumb enough to bail Joe Biden out of the mess he caused by easing lending and then getting the blame for the coming crash, but that’s the wild card in all of this.
I’ve already read articles in which the Democrats are trying to incentivize commercial banks to lend, we’ll see if they take the bait, but if I were a banker, especially if I were a multi-million dollar banker, now would be the time to go on vacation, get some PR people to talk up the Biden administration and do absolutely nothing to help him.
That’s what I’d do, the private sector has been bailing out the U.S government for years and taking all the blame for the crashes, We’ll see if the private sector takes the bait and the blame again.
So, although Bitcoin has been dropping and Gold has been rising, I actually think both will drop. The Federal Reserve is going to be put into a position that almost forces it to raise interest rates, now, this doesn’t mean the Federal Reserve will raise interest rates, but it’s being back into a corner to raise interest rates.
We are living in historic times and sorry the digital dollar won’t bail out the banks, the centralized digital dollar is already failing in China, if you’re wondering what’s going on with Real Estate prices in the West, don’t forget that there are a lot of wealthy people in Hong Kong and mainland China who want nothing to do with digital Yuan! They’re even willing to take a loss if the housing market tanks, that’s how much they hate the digital yuan.
How this relates to Bitcoin is that well, because there’s nothing physical there, get used to the wild ride, because chances are that will be its future for all eternity. The price of Gold on the other hand at present will be reliant on Fed policy.
So Jim Richards has been calling for Gold at $10,000, it sounds ridiculous right now, but if the Federal Reserve makes the wrong move, the U.S dollar, as well as all fiat currencies, will be debased. I’ve been writing for a long time that the entire planet is headed for austerity measures, I’m fine with being wrong on that call, but I say this because that’s how bad the problem has gotten.
Workers are going to DEMAND higher wages if the government doesn’t shrink in size Now, most people have gotten used to the idea of free government or government paid with debasement, that era is coming to an end, what comes on the other side is beyond my comprehension, but we’re in the early stages of what I like to call #LateStageSocialism historically this has happened many times, before, but never have governments been able to create money digitally.
This is what fascinates me on the topic because physical CASH is declining, but if let’s say the retail banks have a “bank holiday” as Lynette Zang likes to say “If you don’t hold it, you don’t own it”. There are plenty of scenarios I can see brewing. But one thing is for sure from my perspective, the recent price drop of Bitcoin is not only because of Elon Musk, it’s because the ECONOMY IS DEFLATING! In the past this used to mean cash is king, but I don’t what the future holds!
Interesting times ahead!
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