“Is bitcoin a bubble? Does gold have an intrinsic value? Is bitcoin a ponzi or pyramid scheme? Peter Schiff thinks so. Stefan Molyneux and Peter Schiff discuss Bitcoin vs. Gold and the future of money.”
“Bubbles are usually built on some revolutionary new technology. Whether it’s railroads or automobiles or dotcom. This bubble has the potential to be bigger than all of them. Money is involved in every transaction we make. I watched a talk by Conservative MP Douglas Carswell at the Russian Embassy on Monday night. Carswell too is convinced that, just as happened with music and books, with retailing and information, digital technology will revolutionise money. Banks and governments will lose their monopoly. And as the Atlas Pulse newsletter observes, whether it was gold in the ‘70s, Japan in the ‘80s or dotcom in the ‘90s, each bubble grew to a value equivalent to the entire S&P.”
http://moneyweek.com/bitcoin-and-cryptocurrencies-the-new-dotcom-stocks/
“This is the most dangerous time in human history for capital and it is up to you to guide your own ship to survive… and prosper. And if you don’t have capital, make it. Outside of the overtaxed and overregulated West there is nothing but opportunity. Get outside of thinking within your national borders like a serf and do what your forefathers did – take a chance and go somewhere else where the opportunities currently lie. I write regularly at The Dollar Vigilante, a network of liberty-loving expats around the world who have gone to a new region and made a life for themselves. It has never been easier, thanks to air travel, the Internet, ATM machines, mobile phones and countless other technologies.”
“Gold has been under pressure since the European Central Bank announced a surprise interest rate cut earlier this month, said Carlos Sanchez, analyst at precious metals firm CPM Group. But gold prices managed to hold above $1,240 an ounce, which is an important support level for technical traders, said Sanchez. ‘I think we’re at the lows,’ he said. ‘This is a good buying opportunity for mid to long-term investors.’ Gold has been punished this year as investors pulled money out of safe havens to chase higher returns in the stock market. Stocks have soared to record highs in the latest phase of a nearly five year-old bull market.”
http://money.cnn.com/2013/11/22/investing/gold-prices/index.html
“This last blow-off is going to be a merciless one that will precede perhaps a movement toward a more global currency or a diminishment of the dollar reserve standard itself. Many may be tempted to sit out this latest – promulgated – rally based on the obvious and evident macro-manipulations. And I will continue to point out the various machinations that are setting up the Party. They are a long ways away from snatching the punch bowl on this one and fortunes will be made because one thing this sort of vast manipulation portends is volatility and plenty of it. Is the market a kind of Titanic heading toward an iceberg? Of course it is. But it’s going to be a helluva ride.”
http://www.thedailybell.com/editorials/34771/Anthony-Wile-Most-Bizarre-Hedging-Statement-Ever/
“With the surging popularity of Bitcoin, Peter Schiff sees another bubble in the making. Peter explains why Bitcoin is not ‘gold 2.0’ and why you are assuming significant risks by ‘investing’ in it.”
“Does it matter that Bitcoins are backed by nothing? What happens when the power goes out? These and other essential Bitcoin questions are addressed by Stefan Molyneux, Host of Freedomain Radio!”
“Will it go up in price? We don’t know. But what we like about bitcoin is the same thing the feds don’t like about it. They can’t control it. So, they can’t use it to steal from people. And they can’t use it to bail out their friends… support zombies… or finance pointless wars. Nor can they use bitcoin to cover their deficits or to manipulate the economy. But wait… Why can’t the feds put their enormous computing power to work mining for bitcoin? That way, if bitcoin becomes the coin of the realm, they could still control it… with a huge reserve of their own. Are they too busy spying on people? Are they too thick to see the potential? Are we missing something?”
http://www.bonnerandpartners.com/how-i-explained-bitcoin-to-my-94-year-old-mother/
“The difficult part is to muster the courage to hold on when all your senses are screaming that it’s a huge mistake, that your investment will never pan out, that today’s fool (you) is tomorrow’s loser. If, on the other hand, you don’t mind going where others fear to tread, opportunities practically jump into your outstretched hands. Here’s the best one I know of right now: gold stocks. Actually, to say they’re a ‘good opportunity’ is a laughable understatement: Gold stocks are at an extreme low we haven’t seen in over 30 years in this industry. Let me prove it to you.”
https://www.internationalman.com/78-global-perspectives/1050-the-greatest-opportunity-in-30-years
“Gold, which was at $1,244.80 an ounce on the Comex at 8:51 a.m. in New York, will drop $1,050 at the end of next year, Goldman said in the report, restating an earlier forecast. Currie said last month that gold is a ‘slam dunk’ sell for next year as the U.S. economy extends its recovery. Bullion is headed for the first drop since 2000 this year as investors cut holdings. Futures lost as much as 2.6 percent yesterday after the Fed signaled that tapering may start in the months ahead, according to minutes from its October meeting. Lower gold prices would alleviate concern about inflation and current account deficits in emerging markets such as Turkey and India, it said.”