Kerry Lutz of the Financial Survival Network (FSN) interviewed GoldCore’s Mark O’Byrne about the outlook for crypto currencies, financial markets and precious metals.
– Are bitcoin and crypto prices being manipulated like precious metals? – Is there a coordinated backlash against bitcoin from JPM and powerful interests? – 95% of cryptocurrencies and ICOs will likely go to zero – Good cryptos will thrive, most will disappear in “massive creative destruction” – Ponzi like nature of financial markets and fiat monetary system – Fundamentals do not justify the massive gains in US stocks in recent years (near parabolic rise of over 300% in the S&P 500 since 2009) – Is Plunge Protection Team (PPT) active in supporting markets? – Retail investors including millennials piling into markets near top – Smart money is reducing allocations to stocks and bonds; diversifying into gold – Bitcoin is just nine years old and not proven store of value – Gold proven store of value as seen in data, history and experience – Gold backed crypto, crypto bullion, “digital gold” and “gold on the blockchain” has huge potential – Perth Mint, Royal Mint, Royal Canadian Mint, LBMA and many others looking at blockchain – Important blockchain solutions have full backing, transparency, security, stop the fraud and have customers interest at heart – Important to own hard assets including physical gold and silver outside our digital financial and banking systems
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