The Most Dangerous Event In Bitcoin & Digital Currencies – Mike Maloney

[youtube https://www.youtube.com/watch?v=rHLXPuL8sVI&w=560&h=315]

Hi, I'm Mike Maloney.

Venezuela has recently announced the launch of a digital currency called the "Petro".

It will be based on their oil and gas reserves, and on gold and diamond deposits.

This will be a huge mistake, because it will limit the spending capacity of the Government, because it will be anchored to a real entity of limited quantity.

This means that the Government to survive will affect the amount of money in circulation, and its relative inflation.

The new currency will be managed by the "Block Chain Observatory", so this will be an artificially created currency, and centrally managed.

Most likely it will be maintained within government servers, that will allow the Government to manage its quantity and circulation.

It's really a nightmare, I believe.

And it could be potentially devastating, as we'll see later in this video.

The article that we will see supports the government theory that says that the problems were born with the collapse of the price of oil and its production.

We will talk about this later, but in the meantime it must be said that the Bolivar has lost 95.

5% of its value only in 2017! And the inflation forecast for 2018 seems to exceed 2300%! Venezuela has been talking about this since 2014, and then I said that in the future there would be hyperinflation and revolution.

If we look at the first episode of "Hidden Secrets of Money", we see one of our guests talking about the "Economy of the Revolution".

The concept is that when the cost to feed your family exceeds a certain percentage of your wealth, The relationship between risk / reward in the event of a revolution starts to lean in favor of the revolution.

This is because the risk of dying because of a revolution is lower than dying of hunger if you do not do it, the revolution! That's when the revolutions happen, when you risk less to do them, than not to do them.

There are neighbors in Venezuela.

President Maduro is absolutely as criminal as Chavez.

He is practically the head of a criminal association.

The Government of Venezuela is practically a criminal organization.

Both promised safe meals for the entire population.

For them, for their friends, for friends of friends, for the government and the military.

the stuff has arrived.

They treat themselves very well.

them.

Stealing the little wealth that was left to the citizens, hyperinflationing the money inputs.

It was simply a transfer of wealth.

The average Venezuelan has thus become depleted as it has lost almost nine kilos of weight on average! They are in effect dying of hunger.

We are approaching a revolution.

I want to read a message at the end of this article: "In the history of the human species there has been only one socialist nation to have succeeded, the next!" "On the one hand there is physical reality, on the other there are economic and social theories, but they do not change reality.

" It is a very important affirmation for me.

I would like to thank this person who wrote this message.

When Hugo Chavez was elected in February 1999, promising bread for the entire population, oil cost 10 dollars a barrel.

And now they are complaining because the economic crisis has brought down the price below one hundred dollars.

But now oil is actually about sixty dollars, so it is six times higher than when the socialist government experiment began.

Venezuela has the largest oil fields in the world, more than Saudi Arabia! Yet production has collapsed, because it has been nationalized by an incompetent government that wants to govern everything, including big industry.

It is the incompetence of the Government that is killing the population.

I hold meetings on the end of the dollar as a standard, since 2010.

With the end of Bretton Woods, central banks in all countries agreed to have their dollar reserves.

There was no longer the link between dollar and gold.

With this new mechanism all the OPEC countries (oil producers), agreed to sell oil only in "Petrol Dollars".

In particular, Saudi Arabia secretly agreed to re-invest all the profits of this market in the American Treasury.

This is really crazy! So summing up: Saudi Arabia extracted their only wealth that is oil, then we sent it to us Americans, we paid it with the waste paper, and they re-invested in our government! With the end of Bretton Woods in 1971, a mechanism was established that actually worked stably until almost 2000.

Then Saddam Hussein claimed to want to price and sell his oil in euros.

This was the first real thorn on the side of the post Bretton Woods mechanism.

Then the same thing made Gaddafi in euros and gold, and we know what happened to these two! That's why I want to remind you of this Bloomberg article which says that the appearance of digital government currencies could even undermine US supremacy.

Dello area area area area B B area B B B B B B B B B B B B B B B B B area B area area B B area B B B dello B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B It is not just about Venezuela.

Russia is also about to launch the crypto-ruble.

Digitally controlled from the center.

Then come Iran, North Korea, China and the Monetary Fund, which will implement a digital crypto-currency, planned and centralized.

I think this is very dangerous, not only because thanks to central servers will control the whole currency, but because they will gain even more control over the population.

Allowing them to keep you from spending your money on certain things, or moving them to other countries.

It really is an immense power.

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There could be a loss of freedom if all these countries start to use digital currencies.

In this article there is a part that I would like to read: Dello area photo photo photo area area area area photo B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B "These new destructive technologies, the crypto-currencies, will end up destroying the status quo.

" "Those nations that will use them in the medium term in the best way will be part of the group of destroyers, not the destroyed ones.

" "The United States is the one that will lose us most, with all its implications.

" "Either they will adapt to change, they will also issue a crypto-dollar, or they will be marginalized.

" I think this is very disturbing, but I think it's the future.

I think it's time to turn to alternative currencies such as gold, silver and digital crypto-currencies available in free markets.

Thank you all for following this video.

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Source: Youtube

The Most Dangerous Event In Bitcoin & Digital Currencies - Mike Maloney

More: http://www.goldsilver.com Mike Maloney explores the events and evidence leading up to what he believes will be the most dangerous event the world will see in the coming years - the potential for governments to enforce their own centralized digital currencies. Link to the article Mike mentioned: https://www.bloomberg.com/view/articles/2017-12-04/government-run-digital-currencies-could-disrupt-u-s-dominance

If you enjoyed watching this video, be sure to pick up a free copy of Mike's bestselling book, Guide to Investing in Gold & Silver: https://goldsilver.com/buy-online/investing-in-gold-and-silver/


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