I don't trust authoritarian control of governments, be the governance civil, non-profit, or religious. Elitists' desires to control underlings give birth to government totalitarianism, cultural socialism, societal collectivism, and civil activism.
When elites seek uniformity, conformity, and artificial unity (e.g. "we're all in this together"), and use executive edicts and police powers to gain "control over" others, then only bad things happen.
Welcome to the New World Order.
People wake up to authoritarianism when their bank accounts are affected. Americans are about to have our wake-up call.
The average citizen is "very happy" for the $1,400 stimulus checks about to hit their bank account. "Who wouldn't be happy with free money," Robert Klyosaki, author of the popular book Rich Dad Poor Dad, responded over the weekend. "The problem is," continues Klyosaki:
"Free money makes the poor and middle class poorer. Buy more gold, silver, and Bitcoin."
If you don't understand Klyosaki's statement above, for the future financial security of you and your family, you have time to learn about hyperinflation and how the poor and middle class become destitute when the government hands out "free money."
"Buy Bitcoin," says Klyosaki.
99% of Americans have very little understanding of this innovative payment network and "new kind of money."
What you do know is most likely "not good." You may have heard Bitcoin is "not safe," or is "too volatile," or is "the currency used for illegal activities," or "it's anonymous and can't be traced," or "it's easily stolen." Truth be known, most Americans don't trust Bitcoin.
That mistrust is based on misinformation. Bitcoin and cryptocurrency are the future of finance.
At first, I was not a believer in Bitcoin and cryptocurrencies. I have owned silver and gold for years, believing it a good hedge against inflation and/or government default on America's soon-to-be 50,000,000,000,000 (trillion) dollars of government debt.
America's debt will never - can never - be repaid.
The American dollar is about to be devalued to near zero. That means the dollar will soon be worth a penny. Every American who trusts in $1,400 cash will soon realize it has the value of $14.00.
When will this happen?
It's hard to say. It could happen overnight (tomorrow) or it could happen in five years or ten years. Nobody knows when it will happen, but everyone who knows finance knows that it will happen.
I became a believer in Bitcoin based on two arrests of two men who tried to steal Bitcoin from another man and attempted to cover their tracks.
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| Photo by Aurich Lawson of ARS TECHNICA |
Two United States government agents, Secret Service Agent Shaun Bridges, and Drug Enforcement Agent Carl M. Force investigated Robert Ulrich's activities associated with Silk Road. Their investigation led to Robert Ulrich's indictment in 2013.
Agent Bridges and Agent Force then stole Robert Ulrich's 1,600 Bitcoin, attempting to cover their theft using their badges (authority) with bank authorities and then shredding paper. The Bitcoin that Agent Bridges and Force stole is now worth 88 million dollars.
But both federal agents were caught by other cyber federal agents, charged, convicted, and eventually sent to prison for their theft.
How these two United States government agents were caught convinced me that Bitcoin is the future of finance in America.
Bitcoin's price is controlled by the market, not the government. Bitcoin can't be stolen like cash since there is a permanent record of every single transaction of Bitcoin, even the transactions initiated by corrupt federal agents.
There are over 6,000 cryptocurrencies, but Bitcoin is the most well-known. If you think that "there's no way I can afford Bitcoin," I would encourage you to consider entering the crypto market by purchasing a small amount of Bitcoin known as "sats" (satoshis) or other crypt coins or market platform tokens that are available for much smaller prices, including MATIC and HBAR which currently sell for .40 cents a coin.
America is moving away from cash. There is a planned reset coming for the American dollar, most likely led by the International Monetary Fund.
The future of finance is transparent money, and cryptocurrencies are completely transparent.
The arrest of two government agents who tried to cover their tracks "the old-fashioned way" (destruction of paper and authority of a badge) should convince you that Bitcoin is the future of finance.
Business Money explains how to get started in investing in cryptocurrencies.
Your bank account will thank you in a decade.
44 comments:
Great article— EXCEPT the part about bitcoin being too expensive, you can buy as little as $1 in bitcoin - like the dollar has cents, bitcoins have sats (satoshis) —- all other crypto is junk, that either has no true limited supply or can be shut down by government... there can never be another/next bitcoin... it has no founder and no single group can control it... other Cryptos all have creators and controllers.
Bitcoin ONLY is the future, not crypto—— zero doubt
Unknown - exactly.
Thank you - didn't explain satoshis in this beginning article, but always appreciate comments like yours!
Wade,
Old friend, I’d never heard about Bitcoin, so I called my son since he usually knows about investments. He said he was sorry you’d encouraged people to invest in it. He said Bitcoin was a very large computer with lots of numbers.
I also, called my daughter who has a master’s degree in business. She said Bitcoin stored a lot of information, but asked, “Which is more valuable, information or gold?”
Do you remember the brother-in-law of Paige Patterson was convicted of a ‘ponzu scheme’? That’s where early investors get lots of return on their money as long as others keep investing, but the last ones to invest, loose.
Rex,
:)
I remember when International Mission Board trustees compared a computer "blog" to "internet porn." Typically, what a person doesn't understand is what a person doesn't like.
Blessings to you and yours!
Wade
Can you reply to the guy who commented under us —
“ bitcoin is the best performing asset over the last 10 years, with average annualized returns of >200% year over year. Rex, I highly suggest you do some due diligence on the subject, before becoming a nay-sayer to Wade, who obviously has taken the time to research with an open mine... asking someone who is uninformed on the subject matter doesn’t qualify as research.
I would be glad to help google search: “gradually then suddenly” by Parker Lewis
or read the book
“a Bitcoin standard” by saifedean Ammous.
Or
“the price of tomorrow” by jeff booth
Best wishes on your educational journey
I hope you have a very knowledgeable accountant doing your tax returns.
Bitcoin is considered an investment, not a cash equivalent, since its value can go up or down. Any sale or use of bitcoin to purchase something is considered a taxable transaction by the IRS. This is reported in basically the same manner as stock sales, on Schedule D and supporting schedules. You are also required to report on your tax return whether or not you own any cryptocurrency each year.
I just went through this when I prepared my son’s return for 2020; he owned a small amount of cryptocurrency gifted to him when he purchased some software. He sold it in 2020 as he was not interested in further investments in this market given its volatility.
Bitcoin is basically an alternate to the stock market, as far as investing is concerned. You can make big bucks – and you can lose big bucks just as fast. I personally do not think that it is worth the risk.
This website has some very good basic information on the taxability of bitcoin: https://www.magnifymoney.com/blog/investing/bitcoin-taxes/
Ruth,
Agreed on IRS taxes. Cryptocurrency investments are taxed just like stock investments.
Bit Coiner,
Thanks for the recommendations on reading.
Hello WADE,
what is an 'elite' in your understanding of the word itself?
I've heard it used in different ways.
Hope all is well.
Christiane,
“Elitists” are those who feel they “know better” than anyone else, that they are “more educated and more knowledgable,” and everyone else must listen to what they say, and if not, be punished.
Wade, thanks for this information and sharing your "take" on it.
I tend to be a slow responder to new concepts and slower to invest in them. I remember my 12-year old son saying to me back in about 1995, "Dad, we have GOT to get internet!" I looked at him with cynism and said, "What is internet?" And shrugged him off. Little did I know.
I will ask my very trusted financial advisor of 30 years about this and the crypto currencies. One thing I DO believe is that there is an orchestrated move by those "powers to be" to remove cash currency entirely. I suspect it is to remove all accountability for national debt obligations or to somehow manipulate them to someone's advantage.
I also do believe that our uncontrolled national debt will eventually result in meltdown. I'm just not sure how or when.
You mention gold, etc., as a buffer against the predicted failing dollar. I wonder how real estate would serve in such a situaion? Possessing some sort of limited commodity as an investment would seem to be the way to go.
Thanks, Wade.
Wade, I used to work (as a receptionist) for SIPC in DC looooong time ago, when it was a fairly new organization. If you own stock, you may know about SIPC, which helps protect investors from being scammed by the securities industry. I worked there when Mr. Woodside was chairman.
I did find this which might be of interest to you and to any readers here who own stock (stock-market):
https://fintechpolicy.org/2019/02/11/the-cryptocurrency-hole-in-sipc-insurance/
Wade,
I looked up Bitcoin on Google, on page 30 it had this:
“Our Liability. Despite Section 9, we accept responsibility for fraudulent representations made by us or if you are injured or die as a direct result of our negligence in connection with the Services.”
How in the world could their Services kill you?
CHRISTIANE,
I liked your link, but didn’t understand it. (Maybe I should have read all of it.). I liked the joke or is a joke?
“Insurance companies exist for 2 reasons: First, to collect insurance premiums and two to deny insurance claims.”
Maybe to understand Bitcoin, we could use Pelosi’s wisdom (“We have to pass the Bill to find out what’s in it.”) and buy to find out how it works.
I’m scared it could be finding out the ‘hard-way’.
GOOD Morning, REX RAY
'Securities Investor Protection Corporation' (SIPC) is a group of lawyers and accounts who protect investors when a securities company fails (goes into 'receivership') . . . it is an organization that was formed for the mutual benefit of the stock market AND investors, so that the credibility of the stock market would not be threatened by the bad behavior of a few.
So, if you have stock (not cows but stock from the stock market (Wall Street). . . I know you know this :) THEN you are protected by SIPC under US law. If you want more details, let me know. I do own 'some' stock, and I inherited some but that is not why I want Wade to know about the problem between 'bitcoin' and SIPC.
I am not an investor myself, but my husband was into it and made some money and lost some money and made some money . . . . I just have 'safe' tax shelters myself and I have purchased CD's also,
but 'bitcoin'? I'm an old dinosaur, and I'll stay with US currency as it is at present and if it all crashes, I know how to plant potatoes in my backyard, you bet.
I would hate to see investors lose their investments because they weren't properly protected. Money is hard enough to come by for people and these days, folks need to be extra careful indeed.
My idea of having money is not to spend it. Hahahahahaha
(seriously) :)
Wade's post brings to my mind some comforting truths which you all know already but still, I thought I would mention them as words of encouragement.
There is ONE failsafe, absolutely sound, infallible, currency that will NEVER fail: "THE HEAVENLY DOLLAR".
It can be stolen, be de-valued, lose its value or investment leverage. It is extremely convenient to transfer and exchange for redemption. It continues to gain in value and never is affected by any other economic, social, political, or chaotic events. You absolutely cannot lose by investing in this Heavenly opportunity. My priority is to invest in this currency.
That being the case, there is no reason for us to be "anxious" about all the noise going on in this world. We just stay focused on what really matters, devotion to our Lord Jesus and consistently behaving as He leads us to behave which includes handling, being good stewards, our "worldly finances/provisions" in a wise manner in harmony with the teachings of the Bible:
1. STAY OUT OF DEBT TO EVERYONE
No mortgages. No credit card debt. No auto loans. Definitely NO school loans, which is the most foolish debt of all. God's Word (and Wade's frequent emphasis including this post) is that "debt is enslavement to the lender".
The government may well eventually come after our capital "holdings" and deeds but not owing on them minimizes the risk and makes it require an even more extreme application of Marxist rule for our holdings to be confiscated. (Maybe keep some diamonds in the mattress?)
2. DIVERSIFY
Solomon did not put all of his investments in "sheep". He diversified so if a hoof and mouth plague came and wiped out his sheep herds he was not ruined.
I may well eventually buy some "bitcoin" or other crypto-currency (If I figure out how it works), but I will NEVER put all of my investments into it. Gold, real estate, currencies, bonds, stock, fixed income sources minimize disastrous occurrences.
3. KEEP OUR FAMILY IN THE CENTER OF GOD'S PLAN
So many comment, "I hate it that my grandchildren will have to grow up in this world!"
What a farce. Our grandchildren will be just fine IF they have been brought up to abide in the center of God's will and behave with the principle of being obedient to His priorities in their lives.
Faithful followers of Jesus had an abundant, full, blessed, joyous life in the midst of The Great Depression, WW I and II, Y2K, COVID 19, and "9-11". Living in difficult times having the minimum and basic resources can actually enhance the quality of life for the "faithful". We will even have blessed lives in the midst of The Great Tribulation (in the event we followers are still here).
I believe Wade has incorporated all of these truths in his writings and you all know it to be true so I don't propose to be saying something revolutionary. Just reflecting on it as this post brings it to mind.
Correction, The Heavenly Dollar CANNOT be stolen.
R.B. -
AMEN! Silver and gold have I none, but such as I have, I give to you!
People tend forget that money is merely a medium of exchange for business transactions in anything more advanced than a pure barter or hunter-gatherer society. Doesn't matter if the money is gold, silver, glass beads, paper, bitcoins, or the Rai stones the Yap Islanders use (see link below):
https://en.wikipedia.org/wiki/Rai_stones
Bitcoin is a cryptocurrency and its "value" is based upon it scarcity (only so many bitcoins will EVER be created)and the information value in its ever-expanding blockchain. All forms of money (gold and silver included) are subject to inflationary or deflationary pressures. The only question is the level of impact.
How much money is "worth" or how "valuable" is based upon supply and demand and psychological factors. Gold has been considered "valuable" and worth something for thousands of years because it is shiny and is found in nature in its pure state (unlike say iron or aluminum). Which is why the gold and silver bugs are way off-base here. They somehow think that if we went back to these metal standards for currency all our problems would go away.
The decentralization of money offered by bitcoin has its theoretical roots F.A. Hayek in his work "The Denationalization of Money".
https://medium.com/ampleforth/nobel-prize-winner-fa-hayek-predicted-bitcoin-and-cryptocurrencies-5a6a521aefcd
EVERYBODY,
I want to promote Judy’s favorite show, OUTNUMBERED where four women and one man discuss what’s going on in America.
Today, they said the Dallas Convention Center will house 3,000 teenage boys from Mexico.
They also said Biden did away with the 2019 bilateral agreement that Trump had with Honduras, Guatemala, and El Salvador.
Trump told Mexico if they didn’t stop people from entering Texas, he’d put a Trade Tariff on them. Biden has done away with the threat.
Now, Arizona has a large meth problem by Drug Cartels from Mexico.
Rex Ray, what is amazingly predictable and apparent is the ingenuity and blatant hypocrisy of all of those expressing outrage over conditions on the border during this past, most recent Administration. The atrocities of those years are like Disney World compared to this current Administration's outright cruel and insane treatment and totally train-wrecked handling of the masses attracted to the "open" gates.
Yet not a word from our leftist friends who were so fired up previously and couldn't express their disdain and pain for all of those children being held in the cages built by Obama. Now they say the children are being herded into containers with barred windows cut in the sides, crowded like sardines among Covid infected inmates with no masks, space for distancing, and now being shipped to Convention Centers. Maybe they'll use Guantamono Bay to keep them once they release all of the terrorists!
But isn't that indicative of ALL of the feigned horror and disgust expressed at the "gnats" of charges of corruption, mistreatment of illegals on the border, quid for quo, election fraud, etc., of the former Administration compared to the "elephants" of outright election fraud, bribery, perjury, misuse of Federal agencies used to spy on political opponents, etc.?
Guess the obvious is apparent to some, simply goes unacknowledged by others. The totally biased positions based solely on partisanship is amazing.
Hello Mr. Kuter,
when you wrote 'Now they say . . . '
it reminded me of a time when 'they' (the right-wing media bubble) was under the indirect influence of foreign entities who had an agenda that you could not even begin to imagine. Check out 'Key Judgement 2' in the link below:
https://www.dni.gov/files/ODNI/documents/assessments/ICA-declass-16MAR21.pdf
After a while, when you know 'they' have become compromat in the recent past, you might begin to question the sources for verification as a lot is emerging that makes sense when you realize that turning to the media sites run by those sources is like listening to a foreign countries' fear-mongering. Hope the link helps.
In another time in another land, a child named Anne wrote this in her diary:
"In spite of everything, I still believe that people are good at heart."
The child perished in a German concentration camp, but the spirit of what she wrote remains strong in those who understand that the Good Lord reveals to the young what He keeps from the wise.
CM
Spot on. Money has no "value." It is a medium of exchange. "Value" is in work, investments, and the production of things that make the world better.
When people start thinking that "getting money" is productive (e.g. "stimulus checks," "welfare payments," and "too big to fail" government bailouts), then people stop working, stop saving, and consume everything. Spending without saving because you "think" you have money is the government's way of "stimulating" the economy.
FA Hayek understood that such stupidity leads to the collapse of a country socially, industrially, educationally, and economically.
Welcome to America.
"Money has no "value." It is a medium of exchange. "Value" is in work, investments, and the production of things that make the world better."
That is a true statement, Wade. I suppose it has something to do with the reason extremely wealthy people continue to strive to gain "more". I am sure there is an element of greed in that, but a lot of them probably continue to build empires because for them, "work" is the valuable commodity.
Christiane, all "news" (?) sources report the atrocities and dire situation at the border. WSJ says it is the worst influx of illegal border crossers in 50 years.
Why are you not expressing the horror and disdain for this Administration's handling of the situation that you did in the former?
Good Morning, Mr. Kuter
The former administration had the 'parental separation' policy. The present administration does not.
The people coming to us who are asylum seekers hope to get some help. I hope they do also. Many Churches will help out an immigrant family as a work of mercy. I support this work, yes.
Mr. Kuter, my father was an immigrant from Canada. And Our Lord Himself was an asylum seeker into Egypt, from Herod who would have killed Him. I see people seeking asylum as people we should be helping.
Scott,
This is another reason I wouldn’t be selected on the jury for Chauvin’s trial.
My twin brother, Hez, was a member of a church in Colorado Springs, Colorado. The church became concerned about pornography in the local paper. Being chairman of the deacons, Hez, made an appointment to talk to the owner of the paper about it.
While waiting, he talked to the man that was responsible. Hez only identified himself as a concerned citizen, and in his work clothes, looked like a bum. The man shook his hand, and told him to come back any time.
The man saw Hez in the lobby, and asked what he was doing. “I have an appointment to talk to the owner.”
“I’ll tell him what you said, and you can leave.”
“No, I’m talking to him.”
“You’re not talking to my boss. Leave or I’ll call the police!”
Two city cops came. One went into the man’s office, and the other sat down by Hez. Hez explained what was going on, and the cop exploded in anger. He was big. Threw Hez across the room, but in doing so, got off balance, knocked over a lamp, and fell down. Women screamed. Hez didn’t resist being arrested, but they had him on the floor where the big cop jerked his hair out. (Later, someone put his hair in an envelope and mailed it to him.)
His hands were handcuffed in front of him. As they started down the stairs, Hez grabbed the rail and said, “I’ll walk down, but you’re going to push me and say I fell.”
He woke up with his head against the window of a police car. Blood was running down the window. He heard a Captain yelling at the big cop: “How many times do I have to tell you not to hit someone when you arrest them? Take him to the hospital.”
“He not hurt bad; he’s tough.”
“Take him to the County Police.”
They had him sit at the back of the County Police Station while the City cops reported to the County cops. The City cops removed their handcuffs and left.
“Come on down here. We hear you’re a fighter.”
“I’m not a fighter, they are.”
“Well, we’re going to find out how tough you are. You and me are going to have a fight.”
“I outweigh you 50 pounds.”
"He doesn’t understand, does he boys? Get him!”
Several cops held him while the small one worked him over with a ‘blackjack’. (Doctor said later, “I thought sure you had some broken bones by such bad bruises.) As he was being beaten, a man in civilian clothes walked by. In desperation, Hez called, “Help me!”
“Help? They don’t need any help. They’re doing a good job!” He left laughing at his little joke. (He was the chief of police.)
Hez became unconscious, but woke up being drug into a cell where he was put in a restraining device. He said the device made everything else look like a picnic.
It consisted of a large belt with a hand crank that pulled him into a ball. It tore his knees so bad; he couldn’t work for three months. His head was pulled so hard against his chess it was difficult to breath.
Every now and then, cops would come by and say, “How tough are you now?” He never answered. A medic checked his vital signs every half an hour.
After three hours, Hez told him, “When you come back, I won’t be here.” The difficulty he had in talking, caused the medic to yell, “He’s dying! You’ve got to turn him loose!”
When he didn’t come home, His wife called the newspaper. They told her the City cops hand arrested him. She called them, and was told the County had him. She called them, but they told her they had no record of him being there.
Hez used a doctor’s phone and called his wife. She got him out on bail the next day. He was charged with Loitering.
Scott,
I didn’t tell how my brother became unconscious.
https://en.wikipedia.org/wiki/Chokehold
“Cutting the blood off from the brain takes 10 to 20 seconds in making a person unconscious. Longer periods may cause death.”
As several cops were holding Hez down, the Police Chief told another cop, “I believe it’s your turn to do the honors.” That cop told Hez, it’d be a lot better for him if he didn’t struggle.
Chauvin’s knee on Floyd’s neck was much like a chokehold.
Sorry Rex. Again, from the video, there is no indication that the knee on the neck was exerting the kind of pressure required to constrict air flow.
The guy was in the midst of a serious cardiac event before he was placed on the ground IMO.
Christianne:
Does your idea of "mercy" really include the exploitation and endangerment of illegally immigrating children in order to challenge existing immigration laws?
That is a terribly off-center system of ethics IMO.
Christe eleison:
https://youtu.be/6ztvPsJmIcU
Scott,
There’s two kinds of chokeholds: One restricts air, the other cuts off blood flow.
Blood takes oxygen to the brain. If the blood is cut off like my brother’s was, the person passes out. If the blood is cut off too long, the person dies.
The policeman’s knee was on the side of Floyd’s neck which cut off blood supply.
Scott,
My brother, Hez, was a high school wrestling coach. Once, the referee didn’t see his wrestler was unconscious from a chokehold that was stopping blood flow.
Hez stopped it by throwing in a towel.
Choke-holds and knee holds are two different things.
No way you can surmise from the video that the officers knee was cutting off air flow.
Cardiac arrest looks like the culprit to me.
Scott Shaver,
I agree the officer was NOT cutting off air flow; but he cut off blood from the brain.
can death occur from blood being cut off from the brain - Google Search
Scott, oxygen is in our blood. If the blood is stopped from going to the brain, the brain dies from lack of oxygen.
In this case Rex, I'm convinced that oxygen levels were depleted due to 3 times a fatal fentanyl level with some meth thrown in for fine tuning.
Scott Shaver,
Tell me why Chauvin continued to keep his knee on Floyd’s neck after he was dead, unless he had a sore to settle? (He was told Floyd didn’t have a pulse, and wouldn’t take his knee off until medics made him.) Yep, we won’t be picked for the jury.
https://www.npr.org/2021/03/22/980037908/derek-chauvin-trial-14-jurors-are-seated-to-hear-case-of-george-floyd-killing#:~:text=Maturen%2FGetty%20Images-,Opening%20arguments%20are%20slated%20to%20begin%20in%20former%20Minneapolis%20police,murder%20trial%20on%20March%2029.
Wade,
I guess my son was right in saying he wished you’d not advertised Bitcoin at this time:
https://www.newsweek.com/bitcoin-price-value-dropping-crash-cryptocurrency-market-digital-money-1560499
Rex,
The article to which you linked was written in January of this year (2021) - two months ago. BITCOIN "crashed" at that time to $33,000 per coin.
Today it "crashed" to $52,000 per coin. :)
Wade,
I stand corrected.
Bitcoin's Price History (investopedia.com) states by 2030 Bitcoin could reach $500,000.
One year, I had over $30,000 in my bank and the interest paid 28 CENTS.
That same year with a ‘finance adviser’ Judy’s interest was $20,000.
I now use another bank with their ‘card’. When I use it 12 times a month, they pay 3% interest on my over $100,000.
Her adviser is going to visit today, and we’ll ask her about Bitcoin. (Maybe she uses Bitcoin. 😊)
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