Bitcoin is High Reward & High Risk – Warren Pollock
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Geopolitical and financial analyst Warren Pollock says you should study up on Bitcoin before you buy it. Pollock says, Bitcoin (and crypto currencies in general) carries “high reward, but also some very high risk.” Pollock explains, “First of all, Bitcoin and these other crypto currencies are not currencies. Most of all, they are not efficient ways of having transactional exchanges between people. They just don’t work the same way the credit card network does or the check writing does. In fact, the speed in which Bitcoin can clear a transaction is downright pathetic. . . . I was able to obtain Bitcoin transaction speed at about 6.9 transactions per second. That’s what I evaluate the network capacity to be. . . . Right now, in America, you take your Visa card and up to 50,000 people can transact concurrently per second. So, there is a tremendous lack of horsepower in Bitcoin.”
Now, there is pending legislation in Congress to force owners of Bitcoin to disclose they have it or face big penalties. The legislation has not passed yet, but it looks like it’s coming in the future. Pollock contends, “Bitcoin has captured the imagination of people, but it has also captured the imagination of our politicians, and they have vivid imaginations. They see problems where there are no problems, and they will see their ability to capture money with something that is an emerging technology. It is a data base technology. It’s not a currency. It’s going to be like foreign banks accounts. If you have more than $10,000, you better fill out that form for the Department of Treasury at the end of the year . . . otherwise, you will be subject to tremendous penalties. Bitcoin will fall into a similar kind of net. It’s a fait accompli.”
So, could you be considered a criminal for using Bitcoin? Pollock says, “Yes, you could. More so, what’s really more important than prosecuting you as a criminal is really gathering information on you for future use should it be convenient. So, you make yourself a target. Not so much if you have a little bit of it, but the threshold will be set pretty low eventually, and that number is $10,000.”
Switching gears, Pollock gives his thoughts on the chaos going on in Washington, D.C. Pollock says it’s like the fake fighting of a TV wrestling match. Pollock explains, “Technically, I think Trump has been neutered. His personal lawyer does know how to deal with the politics at hand. In fact, he took Mr. Comey and he eviscerated him and actually made Comey a target. In our last talk, we brought up obstruction of justice. Not that it is credible, it’s probably just as incredible as this Russia nonsense, but it is a great amount of entertainment. It’s a great amount of propaganda. It provides a great smokescreen, and it basically allows the looting to go on another day. The more Trump can be neutered, the more it can be business as usual. . . . There is systemic propaganda that is all over our news media.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with political and financial expert Warren Pollock.
(There is much more in the video interview. Programming note: There is a speed problem with the video on the Pollock side of the interview that could not be fixed. That said, the audio for this interview is informational and compelling.)
After the Interview:
Warren Pollock sometimes develops research material and notes not covered in the interview. There is nothing this time, but Pollock says he will try to prepare something for the next interview.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
Why does the creator/creaters of bitcoin remain anonymous? Who is responsible if something goes wrong? Are there any guarantees that the creators won’t secretly add more supply of bitcoin to the market beyond its stated limits? Who makes sure this doesn’t happen?
I do not know TSI. Good question.
Greg
There is just no accountability if the creators are anonymous.
TSI. Been watching this discussion on crypto currencies on this site. Some say its a dangerous or bad investment. Others say, look how much money I have made with it, I am convinced it is here to stay. Only time will tell who is correct.
TSI have you watched the Putin interview by Oliver Stone ? Every American needs to watch it
This looks like it’s going to be good Frederick!!!
The media is always pushing this Putin is homophobic line though.
The media does realise that Saudi Arabia (our ally that we sell weapons to) “punishes acts of homosexuality or cross-dressing with execution, imprisonment, fines, corporal punishment, or whipping/flogging” (Wikipedia) don’t they?
https://www.theguardian.com/tv-and-radio/2017/jun/13/the-putin-interviews-review-first-oliver-stone-loses-then-the-gloves-come-off
Frederick…….Thanks for the heads up on this great interview………
Part 1 | Oliver Stone & Vladimir Putin SHOWTIME Documentary
https://www.youtube.com/watch?v=rKbz5S8yQDw
In part 2 Putin says:“I believe nothing is going to change, no matter who gets elected”. I sincerely hope he is wrong, but have significant doubts.
Cal girl You’re VERY welcome
thanks for this. this series of interviews should be remembered as a classic.
Satoshi Natkimoto is supposed to be the creator of Bitcoin. There does not seem to be a direct peer to peer exchange of Bitcoin without an exchange. Could someone clarify this for me ? That being the case , we have a middle man like bankers in our fiat exchanges taking a cut on all transactions. Cryptos are a good concept but with opportunists and bankers now buying in. it makes this market very volatile. My prediction is that the bankers and China will take them to dizzy heights and collapse them,thus have an excuse for total regulation. They will do this through the exchanges. There is no way our Govts and Bankers are going to let cryptos escape their grasp without some sort of revolution.
For one, the Bitcoin software itself is OPEN SOURCE, so there’s nothing being hid from you. Secondly, the Devs (developers) have been decently transparent in what warnings they’ve given in the past regarding Bitcoin. Thirdly, it would take a rewrite of Bitcoin to enforce a higher number going forth. There has been no such talk. Even if there were, you also must ask yourself how the reward of coins given to miners would be affected. At this point, a 12.5 BTC per block is given to a lucky miner group whose hash is what the network seeks being solved. I simply do not see that happening. DISCLOSURE: This Hairy Guy is a proud long-term hodler.
Maybe not so anonymus:
http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
http://dblp.uni-trier.de/pers/hd/o/Okamoto:Tatsuaki.html
It may be a good idea to consider what Karl Denninger recently wrote about all digital currencies. Frankly I’ve always believed they are a scam and Denninger articulates exactly why. Would like to hear what Mr. Pollock has to say about this –
http://www.market-ticker.org/akcs-www?post=232141
David,
I agree. Anyone who is considering investing in bitcoin should read Denninger’s comments .
He discusses the advantage to the original bitcoin miners, transactional inadequacies, and sustainable transaction platforms and other vulnerabilities of the bit coin block chain system.
As WPollock said currency or money need not be complex and bitcoin is too complex. Is bitcoin money? Compare bitcoin to the list of required properties of money.
I’d say NO, bitcoin is not money.
http://i2.wp.com/money.visualcapitalist.com/wp-content/uploads/2015/12/properties-of-money-infographic.jpg?w=1360
Really appreciate the work you do Greg, it is a war and it’s time to act before that time is gone. Don’t spend your money where and on products that support the leftist agenda. Find the local businesses that support conservative values and shop there. Use cash whenever possible regardless of if it is convenient or not. Know who owns the company you buy insurance from. If you belong to AARP cancel it now. Other companies offer similar insurance and discounts. It is time to act., stop supporting the companies that openly attack western culture and free speech.
Thank you Greg. Never give up!!
Greg
Warren Pollock is semi-ignorant about cryptocurrencies he is not technically correct on many points.
Please elaborate. Which points?
Greg, Bix Weir, Everyone…..please listen to the following program regarding Bitcoin starting at 49:00. Please start at the beginning and listen to the whole program. 6/20/2017
http://www.trunews.com/listen
Richard Moore
Could you be considered a criminal for using Bitcoin? … not only can you be considered a criminal and arrested … but your bit coins themselves could be “put in block chains” and seized … on the grounds that it’s use in commerce is a threat to the American economy … think it can’t happen? … read what happened to the “golden rooster” which was incarcerated by the government … the government wanted to melt it down and extract its gold so they could hand it over to the Fed for “safe keeping” at Fort Knox!!! … https://qz.com/1002767/gold-price-why-the-us-government-once-sued-a-nevada-casino-over-a-14-pound-solid-gold-rooster/
Yes, the same fate might await gold holders!
But but but The biggest gold holder of all is the Rothshild family right? Other than sovereign states and I wouldn’t be surprised if their holdings aren’t as big as China’s So how can they say holding gold is illegal in that case Seems like a lawyers dream
Frederick,
You hit the nail right on the head.
The same fate might await gold holders?? … it already has … gold has been taken into custody just like the rooster … managed and “incarcerated by the banksters” and constrained in a striped prison jump suit … but the people of the world will eventually deliver a unanimous verdict in favor of gold … just like the jury did for the rooster … and when gold gains its freedom it will fly like an eagle!!
Right now, the Senate is considering SB 1241, trying to force Americans who return to this nation to disclose cryptocurrency holdings at or greater than 10,000 USD value. If this passes, you can rightfully expect that to be abused with the limit of reporting to decrease as it is with banks, who as Simon Black rightfully states are unpaid government spies. The best thing all of us can do is complain to our Senators to squash this bill. You see, it also expands Civil Asset Forfeiture and that INCLUDES any US Bank deposit box as part of said forfeiture if this becomes law and is violated. Even if you hate Bitcoin, you should see where this is going. This Hairy Guy thought CAF was decided with the recent Nelson vs Colorado case that the SCOTUS ruled in favor of the People. Apparently, Congress didn’t get the memo as Grassley’s arm was twisted tightly enough to sponsor such a piece of garbage as this!
Too bad Amazon wasn’t around in 1958. https://www.amazon.com/s/?ie=UTF8&keywords=golden+rooster&index=aps
Greg,
Warren Pollock is a great guest. Yet, based on evidence, I disagree with his prediction on President Trump. The evidence Trump IS A GREAT LEARNER is all around, e.g. his business empire, his run for the Presidency. And, never before has a non-politician or non-president ever been elected President of the United States. The safest (and universal) bet for a MSM pundit was “Trump has no chance.” The MSM was completely wrong and the MSM is completely baffled, and the MSM is now in a complete in a hysterical rage. How could they be so, so wrong!
He is fearless. He points to their bias ‘fake news’ reporting that thought shapes the now uninformed citizens. The anger, the fear, the rage out on Trump by the MSM is a reflection of the Deep States ‘ palpable panic that Trump WILL BRING THEM TO JUSTICE.
Starting with his Saudi trip and continuing with Sessions “home run” we’re seeing Trump gaining and the Deep State/MSM backpedling. Please see: Trump is Getting His Mojo Back! Dick Morris TV: Lunch ALERT! Now, Trump is polling 50% positive. Keep the faith God sent a tough, smart guy.
SAM
I agree Sam. Trump is far from beaten and the longer he stays in the stronger he gets. The Deep State is panicked and scared.
Greg
I sure hope you’re right Greg.
We really liked this interview.
Mr. Pollack is a honest man.
So is Greg Hunter.
Thank you Diane from us both!
Greg
Who, specifically, looks scared and panicked to you? Robert Mueller, registered republican and decorated Vietnam era Marine, doesn’t appear scared or panicked to me.
Rinserepeat,
Their actions appear panicked and shrill like the MSM. This is a nothing investigation Zero evidents of Trump/Russia collusion and yet it goes on for months. Then, the fired FBI Director breaks the law, and his own employment agreement, for what Comey said was an attempted to get a Special Prosecutor. He got his long time friend Mueller. This is so shoddy, it looks panicked and not well thought out. The says Mueller should recuse himself. I talked about it in the WNW and gave a source and the laws: https://usawatchdog.com/msm-propaganda-cause-left-hate-trump-obstruction-not-obama-administration-treason/ Start at about 9 minute mark. Sloppy, panicked and poorly thought out “witch hunt.”
Greg
rinserepeat,
Mueller is leaking like an old man suffering from urinary incontinence. The Deep State and its minions are leaking because they are scared.
Btw, John Kerry is a decorated Vietnam vet who is practically one in the same as Hanoi Jane.
Tin Foil Sounds like John McCain
Frederick,
The VC should have kept him there. I still can’t believe I voted for that loser.
rinsereeat: Robert Mueller a registered republican, a decorated Vietnam vet, well so is John McCain and he is a pathetic individual . So whats your point?
Sam,
Thank you very much for your comments!! Respectfully, Warren has a right to his opinion and say what he knows.
Ironically, I found it humerus that Warren was complaining about the speed of crypto transactions, when the interview itself was having speed issues!
Traveling with $10,000 declared is already a law, as Greg mentioned around the 17:47 min mark. Applying this to cryptos might be a way for greater acceptance, not criminal! Its not cash so it does not matter anyways.
Most of all, in my humble opinion, President Trump has NOT been neutered and is NOT in place for entertainment distraction purposes. As Greg said, around the 36 min mark, “I think he (President Trump) is the best thing we got!”
There are so many half-truths and misinformation in this interview, that I feel sorry for the confusion it will create.
Thanks Kim,
Yes agree to all your comments. Yes, Trump is not neutered. He is a fighter and he is stalking the swamp-beasts and they know it. Hence the rabid response to his election by the fake news MSM. As Greg said, “the best thing we got.”
Also, Deep State representatives such as Crying Chuckie, Elizabeth Pocahontas Warren, John McRage, and others also understand Donald Trumps’ value as the leader of the rebellion and that is why the kicking and screaming.
Cheers – We’re Winning
I agree with Greg. I tell people all the time…all the attacks from the left are a panic reaction and in the end it will all be nothing burgers and found out…… everything they say Trump is …. is exactly what they are.
IF Pres. Trump is strong enough to hold off:
1. Congress, the
2. Military leaders and their arms suppliers, and the
3. low information American citizen
from starting a war somewhere, anywhere then some other attack on America will occur to hide the real reason for our financial meltdown.
All of these compromised, criminal Deep Staters, in and out of our government, who apparently are running our government, will do anything to promote their NWO and to hide the information about their human trafficking, drug dealing, deviant sex addicted, war mongering lives.
Calgirl,
Trump is not alone. He was divinely appointed and is divinely backed.
Greg
President Trump is way stronger, bolder, and courageous than JFK, Roosevelt, Reagan, Eisenhower, combined. Pundits continue to WAY underestimate the man. Remember, he has challenged so many different levels of corrupted government, the deep state itself, the established corruption of both parties, and continues to get victory after victory. It pains the MSM and democrats deeply, and even many in the GOP that he continues to be effective, and his polls stay strong and now again rising. They have proverbially thrown the kitchen sink at the man, accusing him of so much BS, that anyone else would have gone into hiding by now. He is out there and engaged way more than Obama ever was, as Obama slithered around like a little tiny snake and weak weasel. (obama still continues his traitorous ways, which shows the true colors of a deeply disturbed individual). The American people need the utmost of patience, and the Trump the President and the man deserves the utmost of our respect. When Kathy Griffin pulled her wholly despicable stunt, and it back fired on her immensely, (can you say career ending move ?) I considered that the turning point of the end of the celebrity stupidity against Trump. It was PEAK stupidity and hubris. The so called “resistance” is now officially dead, before it even got started, and Trump has so dis-credited MSM, that they are beside themselves and stuck in a permanent drunken stupor. All anyone actually hears from MSM, is ‘blah,blah,blah, blah, blah’ as everyone is completely tuning out, even if they happen to have a MSM channel on. Its a thing of beauty to watch the corrupted and unethically complicit MSM go down in flames. We have Trump to thank for helping to expedite their demise. Channels of communication such as this web-site will only grow from here. People demand the truth, and know they can only get it from web-sites like USAWatchdog.
Hi Greg,
Respectfully mate, I do not know how you can come to the conclusion that President Trump (whom I support, mind you) is “divinely appointed and is divinely backed”.
Didn’t he just sign a MULTI BILLION dollar arms deal for the Saudis to buy US manufactured human killing machinery?
Is that what Jesus would do?
No, it is not, so we can safely say that Mr Trump is not “divinely backed”.
Wish you all the best.
Ray
Ray,
We will have to agree to disagree.
Greg
Ray,
I would offer for this article from Jim Willie posted back on May 24th for your consideration http://news.goldseek.com/GoldenJackass/1495656000.php.
“A handful of crazies”, and “their hateful nonsense”?
Did you miss this one?
http://www.zerohedge.com/news/2017-06-19/soft-sharia-emerges-turkey
The divine right of kings has been DOA for a few hundred years. Cmon, Greg, it’s the 21st century and this is America, not some nutball dictatorship. At least not yet.
Frisbee,
How about the “nutball” MSM propaganda machine? How about the “Nutball” Dems like Pelosi & Watters just to name a few. You need to seek Christ and stop believing in nothing.
Greg
Frisbee,
I would offer this article by Hugo Salinas Price for your consideration http://www.plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=308
Greg, yes, a thousand times “yes”! That was what Benghazi was all about and why Ambassador Stevens and his cohorts had to take the fall, lest this inconvenient truth come to light. This alone should have been enough to send her to prison, let alone the e-mail scandal, from which her buddy, the reprobate and traitor Comey, rescued her worthless behind again. God may be in charge, but it seems there is no justice in this life. Best always. PM
Paul If you believe in god and heaven and hell it should at least be more than enough to send her south
On the political side … Trump may look like he has been neutralized by the deep state … but consider this … it is really to the American peoples advantage that the Demon-rats and Reptilicans in Congress continue to put sanctions on Russia because it prevents us from getting into a war with N. Korea … lets remember that the US currently cannot fight a two front war … and if we get into fight with China and N.Korea … and Russia is considered an enemy … then if we attack Korea … Russia could move against Poland and other countries surrounding it that are threatening them with missiles … as the US is incapable of fighting both Russia in the East and China in the West … it is really to our advantage if Russia is kept “an enemy” … as it prevents the neocons and war mongering banksters and corporations from starting a war with China and N.Korea … so all this “Russia is an enemy talk in Congress” and imposing more sanctions on Russia is to Trump’s and the American peoples advantage to keep US “out of the major war” that the banksters and military industrial complex are so desperately trying to start!
Based upon the above … the time to really load up on silver and gold is when relations with Russia become “normalized” and they are not considered “an enemy” … because then Russia will be less likely to open a second front … and the war mongering neocons will be more encouraged to get a war started with China and N. Korea … and “war” always makes gold and silver prices take off to the up side … however if we can keep Russia “an enemy” … the gold and silver price spike will need some sort of economic collapse … which will most likely be driven by a liquidity squeeze … in any liquidity squeeze … gold and silver prices will be drawn downward at first … as people sell the precious metals to raise needed cash … but then … the precious metal prices will rise strongly … sort of like what one encounters with a tsunami … first the ocean is drawn way out … then the tsunami wave hits with great force and power!!
Paul If he moves against Poland in July I will be there I’m going to do some business and visit some old friends and drink some good beer And get away from this hot humid Mediterranean climate for awhile
Mr. Hunter, Your response to Cal Girl about Trump being “Divinely Appointed” seems to be a Bit Much. The negative consequences on the very short horizon coming to most of the { so called } advanced nations { as a result of their “Un Godly” activities } will be unpleasant and not ameliorated by our current POTUS. I voted for the man because he promised to put an end to the demonization of Russia; which our Military Industrial complex needs for its own existence. However ; the man with the Orange hair…a child bride..several bankruptcies ..and a super colossal ego ; seems to be an unlikely choice by our Divine Creator to alleviate our problems. Trump may be the best man at the helm { if he ever gets his hands on the tiller } at this time; but he ain’t no MOSES. Even during the prolonged decline of the Roman Empire…..short time periods where it looked as if a return to sanity might prevail ; were just that. Short { hopeful } periods on a pre determined down trend . Pray to the Divine for strength to weather the coming storm……but do not assume that Trump is part of God’s plan.
Francis,
We will have to agree to disagree.
Greg
Honored Friend: IF Trump is part of America’s survival, then he is definitely part of God’s plan, and therefore, divinely backed and chosen, much like Jacob, Moses and Saul, later Paul, of Tarsus, all flawed individuals. But whether you might see the situation as with God or without God, as I often say here and elsewhere, if you pull the plug on America, you pull the plug on the world. Best always. PM
francis m reps .. Paul .. whom wrote most of the new testament used to be a “hater” for lack of better term .. and his job was to murder Christians. He was a murderer point blank. Yet he was divinely appointed by God to spread the word of Jesus being savior and ended up writing more than any other of the New Testament. Most of the Lords disciples were in the same manner of “wow .. the Lord picked THAT guy to be a disciple. They were very flawed.
It’s my belief that as flawed as Trump is (we are all flawed by the way)
God had a hand in Trump’s Presidency and is on his side.
Do you want me to list the ways that it was rigged fro Hillary to win and why the left is so besides themselves that he won? I hope not cause I don’t feel like typing that much.
Of course if your faith really isn’t in God there is probably nothing I can say or do to prove anything to you .. other than pray.
Have a good one!
Paul
The US is bluffing. The US is not interested in war with China and Russia. The objective is to pick off and destabilize weak nations so they cannot align with China or Russia. We label them as terrorist states and go about our business of subterfuge. This destroys the buffer states until the US eventually occupies or controls the territory on Chinese and Russian borders. The US creates slave states that offer us manufacturing and oil on the cheap for Dollars that we print at will. Who needs a real economy when we can enslave the world under the threat of a gun to the head.
Hi Greg,
Warren spoke with some skepticism about the architecture of bit coin and I suspect he’s right. I don’t know if anyone can come up with a survivable crypto currency architecture. If and when governments and banks feel threatened they will go after bit coin and the other cryptos with a vengeance. Imagine the creation of a fractional reserve bit coin market and somebody dumping thousands of naked bit coin shorts at 1 a. m. on a Sunday morning. Oh, …wait a minute. That sounds familiar. To paraphrase Chuck Schumer, ” the banks and the deep state can get at bit coin six ways from Sunday”‘.
I agree. The problem I have with any of the cryptos is that there is a possibility that they are just another ploy by the banksters to siphon off demand for the PMs, just like the gold and silver ETFs that are totally fraudulent if you take the time to read the prospectus for each. Secondly, if TPTB pull the internet plug, the crytos become valueless as a medium of exchange. But I will grant that, for a investor under age 40, cryptos may be a worthwhile asset for portfolio diversification, but only with funds that you can kiss off with impunity. I will stick to the PMs that do not leave a trail for a definitely corrupt government. The recent US military activities and deployments in major metro areas is a great cause for concern.
MAL,
As I mentioned earlier in another reply, these bills that Grassley, et al, can be fought, but it requires as many voices to twist their other arms. The bankers realize Bitcoin can’t be beat, so if it’s beat here in the USA, it will thrive elsewhere. Consider what’s normal in Tanzania and Kenya. M-Pesa is a payment service, a mini-Western Union so to speak. The difference is that people can receive payments on their telephones! Both these nations have few banks, but nearly everyone has a phone. Bitcoin is doing swell for micropayments in such a system. Is it yet possible for everyone? Look for this Hairy Guy’s response as Warren’s comments, although correct today, will NOT remain so in the not-so-distant future. He needs badly to get up-to-date information this Hairy Guy does!
Valium sales have dropped dramatically as Liberals have found a new prescription drug to help them deal with reality.
https://www.youtube.com/watch?v=QXUlhT3-r0c&sns=em
FC,
Too funny!
Greg
FC that is a keeper.
Restoring my faith in good humor, one video at a time. (!)
I only buy a fraction of a Bitcoin every fortnight. I wouldn’t place my retirement savings in Bitcoin. I think they being they allowed the commercialization of Bitcoin, because we the little people are beta testing the financial hyper ledger. Money is being laundered through the current financial system, Bitcoin is the least of our problems. By the way, it doesn’t matter if it is Bitcoin, NASDAQ, DJIA, you are simply being rewarded for risk. The more risk you take, there is a potential for a greater reward. The more risk you take, you could end up being scalped.
Good strategy Mr. Mister. Thank you for sharing it here.
Greg
According to the warped minds in the deep state … Bill’s meeting on a plane “was not obstruction of justice” but Trumps meeting with Comey “was” … and putting missiles in Poland “is not” a threat to Russia … but missiles in N.Korea “is a threat” to the US … lets all give thanks to God that he made these war mongering, pedophile, Satan worshiping neocons stupid!
good points
Hi Greg – Since you asked about the other side of Bitcoin & Cryptos in general, check out this article by Karl Denninger: https://market-ticker.org/akcs-www?post=232141
You may find this article of value as well: http://globalintelhub.com/exposed-real-creator-bitcoin-nsa/
Best Regards
Kevin
Kevin,
Lots of very smart people on both sides of this discussion and Denninger is certainly very smart.
Greg
BITCOIN – HOTEL CALIFORNIA? YOU CAN CHECK IN BUT YOU CAN’T CHECK OUT.
Another great interview of Warren Pollock. He has some very good criticisms of Bitcoin.
Here is a short video by Renegade Investor that provides another view of Bitcoin as it relates to the financial crisis of 2008.
Bitcoin – Real Time Justice & Restitution for 2008
https://www.youtube.com/watch?v=UgVXl2sskpU
Do your own due diligence on bitcoin……and all cryptos……
http://market-ticker.org/
I definitely agree with TSI. Why be secretive on who is behind bitcoin. Thank you for a great interview Mr Hunter .
Warren Pollock makes better sense then any other quest you have interviewed. Loved it.
Trump needs to be distracting them like Obama and Clinton did.
Until I can take a bitcoin to my local store, and buy some beer, and gas it is just a thought of currency.
A few weeks ago Clif High said Bitcoin wasn’t a Ponzi scheme because there’s a finite number of coins that can be created. I disagree with that. What makes it a Ponzi scheme is that its value derives from an ever increasing supply of ‘greater fools’. When there are no greater fools, the price collapses. And that’s without the technical difficulties, or government intervention, or security issues, or dependence on the Internet!
Well said Terry44…. 100% correct. I don’t know how smart people can think it will replace the dollar.
Exactly right terry44 … All “digital currencies” are a scam (a Ponzi pyramid scheme) … but only when people “start to get burned by the crooks” will law enforcement step in to close them all down (as they eventually did with the Wall Street backed Ponzi scheme run by Bernie Madoff) … but the law usually only steps in after the “bit coin” Ponzi scheme crooks make billions of dollars … when it all finally collapses … the greedy pigeons left holding the “empty” electronic bag will find it extremely difficult to put their “nonexistent electronic tokens” on the shelf next to their cabbage patch dolls and tulip bulbs!!
Greg, Trump tweets are too much, too cool, and so very upsetting to the deep state. The MSM, deep state, and the elite never envisioned a President have an outreach that could block their fake news. In fact, have you noticed that “fake news” is becoming a common term out there, that term is directed at the MSM for the most part. Can’t wait until all this Russia bullshit goes the way of the buffalo and Trump continues to take the offence with his tweets; using this incredible tool for cleaning out the swamp is a good thing and highly effective.
I’m just a turtle. Everybody else is a rabbit.
I don’t bet in the paper markets, I don’t use internet currency, I don’t keep more money in the bank, than necessary to cover bills. I don’t allow myself to become deeply involved in the system.
I’m just old fashion.
I buy small denomination US gold and silver coins, not paper IOU’s, I keep cash at home, and I try not….to be part of the world. I grow much of my food, work for myself in a skilled trade and live a quiet life in the country…..I enjoy being self sufficient and prepared.
I keep all my assets under my rabid, pit bull’s dog house. He forces me to “Spend less, save more and live modestly”. LOL
“If you were part of the world, the world would love you as it’s own” ….I realized, why I never fit in. I’m blessed. 🙂
Nice man. Good overview of the subject matter. Time to reflect on the interview.
once you “fit in” you are just “another brick in the wall”
Greg,
I hate so much to hog the forum, but the Bitcoin subject is something I’m fairly proficient with. I’ve not heard the interview, yet I’m willing to bet Warren mentioned nothing at all about BIP 148 (Bitcoin Improvement Proposal) which most refer to as Segregated Witness. Essentially, it’s a sidechain, a third party which improves scalability to Bitcoin. How? The concept is to take a lot of transactions, compress the payments into a single mega-transaction, then submit it to Bitcoin for processing by the miners. It’s a win-win for everyone except the 2 large powerful mining groups who want to retain the status-quo (I won’t mention their names unless requested or interviewed) as that would cut into the FEES they receive. The bad thing about maintaining the status-quo is exactly what Warren sees today; awful slow approvals of transactions (which the miners are responsible for!), especially those considered with an insufficient or no fee(s), and an unwillingness for certain parties to admit that Bitcoin’s POPULARITY is outgrowing it’s initial capabilities. This is exactly why SegWit is critical for Bitcoin to remain relevant going forth. Bear in mind too, other popular “alt coins” such as Ethereum have already had serious issues, yet they’re not hard-coded with a limit and specifics on how they’re being “mined” as Bitcoin does. The hard limit is a huge advantage for Bitcoin hodl’ers, especially when BIP 148 is rolled out. It could happen as early as the end of July. This Hairy Guy runs a Bitcoin node on the very computer posting my message, and presently, it transmits a specific message which voices support for BIP 148.
Hairy, a lot of guests make comments about cryptos and people take them at their word because they know a lot about geopolitics or economics. But they DO NOT UNDERSTAND cryptocurrencies. I wish these guys would study up on bitcoin before they comment. I appreciate your comments, I invest in cryptos and attend a monthly in person bitcoin meeting in my area. I’ve been going for 5 months and each time I go, the attendance doubles. At first there were only 5 of us…5 months ago. I expect there will be 50 at the next meeting and then we’ll have to find a bigger place to have meetings.
Warren is kind of a mysterious person, isn’t he? He didn’t disclose any of his investment vehicles (again). He is negative cryptos, gov’t, equities and cash. Where does he put his fiat? His reasons against cryptos also apply to equities. If one buys and sells equites in a broker account, it takes 4 days to exit a position and have cash accessible (t+3 terms) and all are risky, with no real markets anyway. Not sure what I learned again here from this interview. Did I miss something? Mannarino is much more clear and black and white for my liking.
The D-Wave’s Adiabatic Quantum Computers have reached a speed and word size that no encryption software is safe. (See Anthony Patch.) Once these computers are used by main stream corporation and governments, there will be no secrets. Add AI into the equation, and the beast system will bring its full weight.
Thank you for having Mr. Pollock explain in very measured and gentle terms ; the fraudulent nature of so many of our current institutions…..and the ignorance and gullibility of the majority of our propagandized and misinformed populace. He politely pointed out that Bitcoin is ” virtual ‘ ; actually an attempt by frustrated people to reach for a straw to help them survive our crooked financial system by reaching for another risky wild idea. He properly points out that President Trump made a big mistake by trying to co operate the the same Republicans who shunned him while he ran for President. This error is not likely to be rectified. Mr Pollock admires Bucminster Fuller { as do I } and claims friendship with Mr. High. I view High in the same manner that mr. Pollock views most of our ” Virtual ” institutions and activities. Exactly what does the Linguistic Expert with the predictive operation bring to the table ??. No food grown…no packages delivered …nothing but additional noise to add to the confusion already overwhelming us. Thanks again for a clear headed thinker. Please follow up with the optimistic Ms. Fitts, and the smartest man alive today ; Mr. Hugo ?Salinas Price.
Jenny,
Perhaps you are correct.
In my view, the ONLY way The Beast system will be stopped is when The People, globally, take a knife to it’s heart……SWITCH OFF & THROW OUT ALL COMPUTERS AND SMARTPHONES.
Job done.
Life goes back to a very basic, simple and BETTER way for all.
Greg
Wonderful Interview with Warren Pollock. It clearly painted the possible pros and cons of the cryptos. Fairest analysis of the cryptos that I have seen. If anyone thinks their buying of cryptos is unknown to the NSA they are being naive. The government clearly monitors all financial transactions. So, if you buy cryptos with a check or credit card those footprints are clearly left for the government to see. The only possible way may be to buy cryptos by cash. Wait, isn’t there a war on cash? The government can manipulate the prices of cryptos as easily as they do the precious metals. The real solution is for a way to bring back honest and stable money for everyone that can not be diminished by anyone. I wonder if the framers of the Constitution thought about that?
Greg … A very intelligent Harley Schlanger should be booked to explain Trump’s “secret plan” to get rid of the deep states “war and depression” economic system and replace it with a “peace and growth” economic system where our 20 trillion national debt is used to create the credit needed by businesses to jump start our economy … listen to him below … he also explains why there should be no special prosecutor (as there can’t be a cover-up of a Russian connection if such connection never took place) … and why was Comey trying to hire British agent Christopher Steel?? … https://www.youtube.com/watch?v=NQlZNkPRbcU
I think Trump’s “secret plan” may include giving 0% government loans to Americans to pay off their credit card, car and student loans … taking the deep state monkeys off the American consumers backs … the Fed and deep state bankers who only want 0% loans “for themselves” are in a panic to remove Trump in any way they can … this is why the Fed is raising interest rates into a weak economy … the Fed knows from the IMF that if they raise interest rates to 3% it will put 20% of all the businesses in America into bankruptcy … the outcry created would be so great that they can then justify shooting Trump like they did Lincoln and Kennedy … and no one would complain much about it … therefore Trump must get rid of the Fed now … well before they raise interest rates to 3% !!
Pollock is spot on. Productivity is meaningless now a days, what productivity does the FANG companies contribute to? NOTHING! They are social entertainment venues.
Financials are the only game in town.
Jeff said everything I thought about Bitcoin. It’s an inadequate database. Awesome segment Greg.
The Great Tribulation Begins
The attack on religion! Recall that Paul wrote: “For when they shall say, Peace and safety [security]; then sudden destruction cometh upon them” Just as a flash of lightning is closely followed by the crash of thunder, so the time of saying “Peace and security!” will be instantly followed by “sudden destruction.” What will be destroyed? First, “Babylon the Great,” the world empire of false religion, also known as “the prostitute.” (Rev. 17:5, 6, 15) This destruction of Christendom and all false religious organizations forms the opening phase of the “great tribulation.” (Matt. 24:21; 2 Thess. 2:8) For many, this event will come as a surprise. Why? Because up to that point, the prostitute will think of herself as a “queen” who will “never see mourning.” But she will suddenly discover that her confidence is misplaced. She will be removed quickly, as if “in one day.”—Rev. 18:7, 8.
Who or what will carry out the attack against “Babylon the Great”? A “wild beast” with “ten horns.” The book of Revelation indicates that this wild beast refers to the United Nations (UN). The ten horns represent all present political powers that support this “scarlet-colored wild beast.” (Rev. 17:3, 5, 11, 12) How devastating will the attack be? The nations of the UN will plunder the prostitute’s wealth, devour her, and “completely burn her.”—Read Revelation 17:16.
CUTTING SHORT THE DAY’S! Our King revealed what will occur at this point during the great tribulation. Jesus stated: “On account of the chosen ones those days will be cut short.” (Read Matthew 24:21, 22.) Jesus’ words were fulfilled on a small scale in 66 C.E. when God “cut short” the Roman army’s attack on Jerusalem. (Mark 13:20) That action allowed Christians in Jerusalem and Judea to be saved. What will then happen on a global scale during the coming great tribulation? God the father, by means of our King [the Son], will “cut short” the United Nations’ attack on religion so that the truth will not be destroyed with the false. Thus, while all false religious organizations will be torn down, the truth will survive. (Ps. 96:5)
Events Leading Up to Armageddon
Jesus’ prophecy about the last days indicates that several significant developments will take place during the time leading up to Armageddon. The first two events we will consider are both mentioned in the Gospels of Matthew, Mark, and Luke.—Read Matthew 24:29-31; Mark 13:23-27; Luke 21:25-28.
Celestial phenomena. Jesus foretells: “The sun will be darkened, and the moon will not give its light, and the stars will fall from heaven.” Certainly the religious leaders will not be looked to for light—they will no longer be identified as such. Was Jesus also referring to a supernatural manifestation in the heavens? Perhaps he was. (Isa. 13:9-11; Joel 2:1, 30, 31) How will people react to what they observe? They will be in “anguish” because of “not knowing the way out.” (Luke 21:25; Zeph. 1:17) Yes, enemies of God’s Kingdom—from ‘kings to slaves’—will grow “faint out of fear and expectation of the things coming” and will run for cover. Yet, they will find no hiding place secure enough for them to escape the wrath of our King.—Luke 21:26; 23:30; Rev. 6:15-17.
I can’t comment in transaction speed regarding buy something physical and the speed of Bitcoin in that regard but I can tell you I purchase bitcoin instantly using a debit card. That type of transaction in my experience has been instant.
Paul,
Have you tried to cash out of buy something with it? Just curious.
Greg
Reminds me of that book “Have you ever tried to sell a diamond?”
Apparently De Beers conned the world into believing diamonds are rare and valuable. They controlled the supply of the semi precious stone by monopolising all supplies and only releasing small amounts onto the market and exciting demand through some of the best marketing campaigns in the history of advertising.
I guess the bottom line is you don’t really know how valuable something is unless you try to sell it.
Greg … I have not tried to cash any of it out yet. I only purchased a small amount. ($60.00) Just to see how it fluctuates. I use coinbase app for my transactions. Using my bank a transaction does take up to five business days. But using a debit card literally takes seconds. I only purchased a small amount and in 5 and 20 dollar increments, because I don’t fully understand it all the way yet. But I have watched that total 60 dollar amount fluctuate down to $53.00 then go to $64.00 during a 24 hour period.
I am brand new to it and still learning and again no .. I have not tried to cash out or purchases anything with my bitcoin wallet other than just actually buying bitcoin through my bank. The coinbase app will ask for your banking info in order for you to make the purchase, but its my understanding that you can also just use a debit card at an ATM bitcoin machine create a bitcoin wallet and also purchase bit coin instantly. I have done this and used the coinbase app to get my address. That trasnaction took about 10 minutes to clear at the atm through my coinbase app.
Again, sitting at home on my computer logged in to coinbase — I bought some with my debit card info on coinbase …and it was instant. When you sign up with coinbase the instructions tell you bankaccount Number will take up to 5 -7 business days verses a debit card that is instant
here is a video (there are many) that you can watch of a bitcoin atm transaction https://www.youtube.com/watch?v=H8aZAndDWow
this is the coinbase web site — they also have a downloadable app for andriod and iphone https://www.coinbase.com/signup/?r=528aabf4be1714011900000e
Hope that answer your question.
Paul
Thank YOU Paul.
Greg
Greg I have seen bitcoin ATMs
Greg, I am a real fan of yours. You have had wonderful guests on your show and I learn a lot each time.
I listened to Warren Pollack and I was unimpressed! In my opinion, Bitcoin does work as a currency (fiat) and it’s greatest appeal is that it BYPASSES the banking system. It is flourishing partially because the public realizes the need for a viable alternative to their cash when the government moves to ban cash.
The idea that transactions are very slow is a real problem but other cryptos are much faster. To compare the current banking system’s speed which has had 70 or more years to improve with an infantile technology is misleading except for his point that it would be very hard to sell out quickly. In time, transaction speed will diminish as demand requires requires.
The government will try to scare everyone by forcing the declaration
of crypto-currencies accounts and making some dramatic examples. As the best of these crypriot-currencies mature they will become so onerous to trace and so many people will be using them that they cannot be controlled by any individual or government.
He shares an opinion that moving to a cash free society is foolish. That’s bull or naivete! Moving to a cash free society strips freedom from the people and prevents bank runs while at the same time increasing the governments opportunity to tax all transactions. This isn’t foolish, it’s part of the plan to dismantle the USA.
@Ron, seems you are spot on! The people in power that do not like crypto currencies have their propaganda machines in overdrive. They dearly want to turn Bitcoin into silver where it falls by 50% over several years. Anything which is a safe haven outside the almighty Stawk’ Market shalt be crushed by any means possible.
However, they may have their hands full with crypto’s which they cannot conjure unlimited amounts of blind naked shorts out of thin air.
Ron,
Sorry but eliminating physical cash would not prevent bank runs. Bank runs can happen just as well by having large numbers of depositors take money out of a bank electronically by transferring it to another financial institution like to another bank, a credit union, a mutual fund company, a brokerage, an insurance company, to a Treasury Direct account etc… In fact most money is moved in and out of the banks electronically. And of course people will still be able go to the bank and close their account and receive a cashier’s check. So in a cashless society people can still close their bank accounts or take most of their money out of the bank electronically.
Only capital controls, such as preventing people from closing accounts and limiting the amount one can withdrawal from their account, can stop bank runs.
One thing that would happen however if the U.S. became a cashless society is that the $1.5 trillion of paper currency in circulation would have to be deposited somewhere. Much of it would probably end up being deposited in a bank, either in the U.S. or in an overseas bank since about half of all U.S. paper currency in circulation is held overseas.
Just one more bit of information concerning bank runs. If there is a run on a bank or credit union, the Federal Reserve’s Regulation D allows banks and credit unions the right to require that the depositor give 7 days written notice to withdraw or transfer all or part of the balance of any time deposit account. A time deposit account is a savings account, negotiable order of withdrawal account (NOW) or money market deposit account (MMDA).
Certificate of Deposits (CD), also a time deposit account, requires written notice in cases of an early withdrawal prior to the maturity date. Sometimes as much as 30 days. And even then the bank can deny your request.
Demand deposit accounts, like checking accounts, are not subject to the 7 days written notice. However many checking accounts consist of two sub-accounts – a checking sub-account and a money market sub-account. The bank can reserve the right to require at least 7 days written notice prior to the withdrawal or transfer of any funds from the money market sub-account.
Granted banks today do not require depositors give them advanced notice to withdrawal money from their account, except for CD early withdrawals, but if there is a bank run, the bank could exercise their right and require that the depositor give at least 7 days written notice to withdrawal or transfer some or all of the money deposited in any time deposit account. And in the case of CDs, deny any early withdrawal requests.
So I would advise anyone who is very concerned with safety and liquidity, to have a little money as you feel comfortable with in a good local bank or credit union that is not deposited in a time deposit account.
NOT if electronic limits are set. Banks can be ‘protected’ electronically by insuring reserves and deposits, no?
Charles,
Correct, electronic limits would have to be set. I did say about “limiting the amount one can withdrawal from their account”. That would not only be limiting the amount from an ATM but also by electronic transfer.
Mr. Hunter: Wow! A great interview with someone with whom you don’t entirely agree, and you let him make his point about Trump without much, if any, interference. Overall, I found the depth of Mr. Pollock’s analysis stunning. By the way, I’m finding your commenter’s observations valuable as well. Thanks again.
Thank you William! There are smart people here and you are one of them.
Greg
Man, I can not think of a better place to store my wealth then on some sweat shop computers that are scattered throughout China (and throughout Asia) that all are running on stolen software – hell, that sounds like one of the safest investment a person can make to protect one’s wealth !! Greg – many thanks for a very informative interview! this Bitcoin makes gold and silver look like a hairy neanderthal investment.
Bitcoin … Many parallels to the tulip mania … loss of trust in the system/currency; people observing other people getting fabulously wealthy and quickly (… and they did relatively nothing – this aspires to the lazy nature of a lot of people); This is the first real digital ponzi scheme (a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors) on a world wide scale … all fueled by the interconnection of the internet! And they are all protected by a thing called the “block chain”. If some smart deviant figures out how to input a virus in to the “block chain” what a big ouch!
Yes, I would hazard a guess that most people who have invested in Bitcoin don’t understand what block chain is. How many people have the necessary skills to ascertain if this is a con or not? I certainly don’t. If this is a bubble and it collapses I would imagine a lot of that money will flow into the gold and silver space.
I came across this Sir:
Facts always have their revenge, however long it may take and the aftermath is never pretty. Ignorance is a serious liability in any transaction with the real world. Denial is ultimately lethal.
Ever wonder about why France hasn’t appointed a special prosecutor to investigate Obama’s very deep interference in the French election to defeat Le Pen … or why the deep state is happily going along with the shut down of the Clinton Foundation? … the people who could have made a big change in Europe for the better had too many special deals going to fatten their nest eggs … and the 300 or so very important government officials deeply involved in pedaling US assets, technology and state secrets through the Clinton Foundation (committing treason to make themselves millions and billions of dollars) are still in office and desperately want to cover their tracks!!
Hugo Salinas Price’s take on Bitcoin…..
http://plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=309
Yes … sorrow awaits “the last ones in” … only those who got in early and out before the collapse will profit as in any Ponzi scheme!!
Greg,
You gave the reason for hope at 2 Chronicles 7:14 to HARDBALL on this weekends WND wrap up,
“and My people who are called by My name humble themselves and pray and seek My face and turn from their wicked ways, then I will hear from heaven, will forgive their sin and will heal their land.”
RUSS MCMEANS 06/18/2017 • answer to HARDBALL was;
Many Americans scoffed at the idea of independence from the Crown of England. And now here we are!
Over 200 years and still independent, I might add myself! L.C.E.
But this morality play says it all, from D. D. Canavan 06/17/2017 • And it’s a good example of the above scripture and reply to Warren Pollock who doesn’t give much hope for the republic for which it stands. Because of the bullies in Washington, who today are worse than the crown of 200 years ago!
Keep in mind Mr.Connors was from Brooklyn, like president Trump, both born and bred. So there is a lot more to New York values than we might think. You think?
In case you missed it._ Lucas needs to show them and Jackford that he’s not going to get pushed around! Sound familiar?
https://www.youtube.com/watch?v=NKqGdJu5FJE
Thank you Lisa!
Greg
Calgirl
Interesting viewpoint from Mr Price
Here is a different perspective. Imagine Mr Hunter interviewing this guy.
https://www.youtube.com/watch?v=SMEOKDVXlUo&spfreload=10
I don’t know where Warren is getting the idea that all the ‘doors’ are in sweatshops in China…every western country now has exchanges. There are many here in Canada and interestingly a local Bullion dealer “Atlantic Gold and Silver” has started selling Bitcoin and Ethereum and for those who don’t want to hold it in their own wallets they offer ‘cold storage’. It is also not as complicated or inefficient to transact as he suggests. Without leaving home, in very little time, I can buy Bitcoin or Ether with CAD and withdraw USD from the exchange directly to my USD account…it’s quicker and costs less than doing so at the bank. Having said that, I agree that the ability to hold physical currency in hand is what protects our rights and freedoms and the only REAL money and protection is Gold and Silver.
from MarketWatch Opinion by Bret Arends (6/17/’17): “Stay Away from Bitcoin -it’s complete garbage. What are it’s real-life uses? Online gambling and money laundering.”
wondrouscat,
BitCoin is probably invented by the CIA.
“What is the national pastime of China? If you answered gambling, you probably have a few Chinese friends.
What is the national pastime of Chinese business people? If you answered tax evasion, corruption and money laundering, then you’ve tried to do business in China.
When a handful of businessmen merged these two pastimes, they made a fortune by building casinos in Macao. Now, the Chinese government is cracking down on Macau, but cultures don’t change—they find new outlets.
Is Bitcoin the next combination of these pastimes?”
http://thecrux.com/bitcoin-the-latest-way-people-are-getting-their-money-out-of-china/
Mr. Greg,
Thank you. Very eye opening interview! Can you have this guy on more often?
Joe
I’ll try Joe! Thank you.
Greg
and Nassim Taleb
https://www.bloomberg.com/news/videos/2017-05-18/taleb-sees-worse-tail-risks-than-in-2007-video
History Repeats:
Bitcoin is today’s “Fools Gold”. I would rather have a Gold Canadian Maple Leaf in my pocket any day than so many cryptocurrencies. Physical Gold and Silver coins offer true anonymity. The Govt. has no need to know how much precious metals someone may own. You can completely control your financial privacy on that one.
Digital anything inherently has no true privacy today. Failure to Report bitcoin holdings annually means trip to Federal Prison if caught. Therefore, High Risk, Small Reward or even no reward if you lie about it or don’t report it as required.
Not true. You are not required under Federal law to report bitcoin holdings. Only when you sell, you are required to report (either a gain or a loss). The same is true of gold. If you sell more that $600.00 worth of gold to a coin dealer, by law he has to file a 1099 form with your tax information. Failure to report a gain on gold or silver “means a trip to Federal Prison if caught. Therefore, High Risk, Small Reward or even no reward if you lie about it or don’t report it as required.”
J marty,
That $600 sale amount was proposed and rejected a number of years ago. There are two reporting requirements for precious metals dealers when it comes to people selling gold and silver to them.
The first is a 1099-B form that must be filed when a customer sells gold and silver bars, rounds and only certain coins to them but only if it is in a large quantity. American Gold and Silver Eagles, American Gold Buffalos, Chinese Pandas, etc… are exempt of the 1099-B reporting requirements.
Precious metal dealers also must report any cash payments they receive in a single transaction of $10,000 or more by filling out an 8300 form.
https://www.jmbullion.com/reportable-bullion-transactions-infographic/
And of course failure to report a gain on gold or silver does not mean a trip to Federal Prison if caught.
Robespierre,
There are no requirements currently to report bitcoin holdings.
Regarding congressman Scalise…the propaganda media is no doubt responsible for inciting and promoting extremism however it is possibly even more noteworthy that he was using his position as majority whip to push for action against human sex traffickers and pedophiles. On May 25 he posted a video contained in this link.
https://www.youtube.com/watch?v=eiaLFhe1OYg
Going back to cryptocurrencies I am convinced the oligarchs of finance are behind the digital currencies which is why they’ve been allowed to run and it is why they are not going to suddenly disappear. The Bilderberg’s have their fingerprints all over Ethereum as is pointed out in this video. https://www.youtube.com/watch?v=7kQAZ2dYzNA I’ve criticized Cliff High and Bix Weir for promoting cryptos as the people’s revolution against fiat….I think there is a much darker reality behind the ‘digital revolution’. The observations in the video about the symbols used by many of the players in the crypto field are very disturbing.
It seems that Mr. Pollock only tangentially addressed your questions. For example, his response to your question about “where is it all going?” relative to geopolitics. His response: “investors such as Bill Gross view it as a risk/reward issue….” Ok, so how did that address your question.?
a bit is 8 numbers long ,10101010that it . What I don’t like about them is they can be hack and you never know it.
Greg it has been said that the government can take everything they want. It would be easy to take / remove bitcoin , and any crypto currency from the NSA/ USA. They will never take the land of a Tennessee man without face to face gun fight. Land they will not go after till they have tried everything else.. By then they will need us land owners more then they think. Land is without a doubt the best investment ever.. As long as you own in a like minded area.
Just my 2 cents – The Smoke Warren is talking about I think is actually a Panic. I think Trump is the real deal. I disagree with WP on this. VERY much disagree with him.
I do think politics is in part “show business” Celente calls it “Show business for Ugly People” …. but in this case again … its NOT just show biz .. I think Trump is serious and should be taken seriously and they (democrats) are in panic
The gauntlet has been thrown down.
https://www.bloomberg.com/news/articles/2017-06-18/aiib-pledges-to-do-more-by-itself-as-regional-influence-expands
According to my sources ( which I can’t verify ) AIIB will be releasing a basket of alternative currencies to be used for trade within their banking systems within a matter of weeks. When I first heard this news I was skeptical, but now its apparent that AIIB has been planning on severing its relationship with the World Bank and the IMF for quite some time. What that means to the future of the dollar as reserve currency should be obvious. When over 80 countries sign on with AIIB, they will no longer be using dollars for their projects. In addition the acquisition of gold holdings by China over the past few years was being done precisely for this purpose.
Jerry, they can blow the whole thing up, which you have been predicting (seeking?advocating?) for years now, and they can impoverish us all. And I guarantee you, that within a few days, people in my neighborhood will find something(s) to use as currency and will barter items and labor and cooperate. Life may get hard; life may get dangerous. Our government may shaft us and maybe even seek to imprison us. The Chinese may “own” us. We may have to fight, maybe die. Together, Stalin and Hitler worked 24/7 for years and killed over 20 million people with a precision the world had never seen. Yet, they couldn’t kill everybody and mankind survived, and they didn’t. I agree our system is rotten and corrupt, and we are setting ourselves up for hardship. OK, we deal with it. Will you quit with the fear-mongering? Or are you cheerleading? Best always. PM
Like I said, last week my computer was attacked when I tried to pull up a report from RT about Qatar’s deal with China using gold for exchange instead of petrodollars. So I did the next best thing, I pulled up a report from Qatar.
https://books.google.com/books?id=ivRGwKRZ1BoC&pg=PA117&lpg=PA117&dq=qatar+china+deal&source=bl&ots=Yxwxnm0QCj&sig=tqeYJtMGNqeTglnmw8b1MV1iOQ0&hl=en&sa=X&ved=0ahUKEwiDts2E5MrUAhWM4CYKHfHPCtUQ6AEIRDAH#v=onepage&q=qatar%20china%20deal&f=false
Interestingly enough its not just about oil. Its about a gas deal with China in which Qatar will be running a pipeline through Iran to the gulf to China’s distribution network. It understandable why the deep state is freaking out when you consider Iran is trading oil for gold outside the petrodollars influence as well, and now here comes Qatar into the deal. But why not? The largest Yuan clearing house in the middle east is in Qatar. Long story short, the petrodollar is toast and there’s no way out of this for the central bankers except massive losses which they can ill afford. Its one thing to print money without impunity but quite something else when no one wants to use it for trade. The game is over.
Jerry,
Good catch Jerry. This is big.
Greg
Greg,
There’s a lot going on. I have heard from multiple sources that AIIB and the BRICS nations have tried (with no success) to launch an alternate exchange currency through their banking systems the last few days. Apparently the deep state has some type of spyware program that has been used to block the launch. This is SERIOUS considering our current predicament with Russia. The speculation is that should this cyber war continue, Russia may launch some type of cyber attack on our electrical grid in retaliation. Should that happen you will see the entire electrical grid go down in a matter of minutes, like a sting of cheap Christmas lights.
More on AIIB.
https://www.reuters.com/article/us-aiib-asia-china-idUSKBN199061
Make no mistake, with China’s financial backing and gold supply, this organization will replace the Bank of International Settlements.
Follow the money
If you forget that rule you are as good as dead
In that sense, Mr Pollack has only repeated what I said in comments to Cliff’s interview. It is clear. Warren, missed few things, but he was right on money when he said, Bitcoin Human and Technical Infrastructure sucks. While, to my dismay, Cliff High , made error or deception , making people think that BITCION is either anonymous or not stoppable and government are stupid and unable to do the same( as i said and Warren confirmed all you need is to “tell the routers” to stop certain ( port, TCP/IP concept, if you understand internet fundamentals).
As for TRUMP being reduced to being ENTERTAINER , I say this suites TRUMP. Why? Because , again , follow the money. The economy needs to slump into second year of presidency ( especially this has been true for Republicans) and what better way to tell people, that the “INVESTIGATIONS” delayed, what had needed to be done. Then all of a sudden come mid/late next year TRUMP gets traction and most of things people thought will happen will happen.
HALLELUJAH ! it is so great to follow MONEY and have some experience, in COMPUTERS, INTERNET, TRADING, MONEY MANAGEMENT and WALL STREET INFRASTRUCTURE In and out. Of course Being a QUANTUM PHYSICIST never hurt. Keep up the good work Greg, I doubt you have a single person on your site that compares to my abilities of putting it all together for whatever purpose
Greg,
I can confirm. I bought on of Boris’s book’s!
Zdravo
Boris You’re the best and the brightest we get it Now please go away
New Article:
https://antoniusaquinas.com/2017/06/19/pope-francis-and-angela-merkel-enemies-of-european-civilization/
AA
Greg, Another excellent interview…..you are a must watch as far as I’m concerned! As a Bitcoin investor (or more accurately speculator!) I was very interested in Warren’s comments, which I found to be fair and balanced. In particular though, I smiled wryly when he started talking about Bitcoin’s usability. I have a Wallet with one of if not the biggest cryptocurrency providers and have been left fuming by the slowness of the selling process. On 7th and 9th June I sold a total of approx one bitcoin with the proceeds to be converted into GBP and transferred to my bank in UK. To date both of these transactions are ‘Pending Confirmation’ ie. they have not received the blockchain confirmations required to complete the transaction. Also, as a result of having pending transactions, my wallet is now frozen until they clear!!! I have contacted the wallet provider’s support centre but surprise surprise nothing back so I’m 100% stuck and just crossing my fingers that they will eventually complete. So in summary, I believe crypto currencies will succeed, but for now just treat them as a speculative punt with money you can afford to lose……and don’t expect anything like the tried and tested buying or selling experience you get from traditional financial products. Many thanks.
Thank you David G.
Greg
Greg,
Why is it so hard for the US to get rid of the Fed ?
Please forgive my Canadian ignorance on the subject of the Fed but this isn’t rocket science. If it’s hurting the masses it should be a no-brainer to get rid of them…shouldn’t it ?
They have the gold so they make the rules If we tried to get rid of them they would most certainly crash everything and make the US lot bad compared to Argentina
Greg, I would urge all doggers to listen to Dr. Bill Warner on Hagmann, http://www.blogtalkradio.com/cfp-radio/2017/06/15/leftist-and-islamist-invasion-andrew-kerr-dr-bill-warner . He is the go to expert as to the “Perfect Man” … In MY Opinion. Starts @ the second hour.
Yours, DB.
Congress can repeal the Federal Reserve Act at any time and gain back its constitutional power to print its own debt-free money. It just doesn’t want to. Our corrupt government profits too much from its symbiotic relationship with the Fed. In my opinion, both are scared to death of crypto technologies. Let’s just call it a “proof of concept” for now. People want to control their own money, be their own banks and shift the prosperity derived from labor, the source of all value, to a community-based trust.
At present in the Philippines, you can pay your utilities, tuition, phone, and rent with Bitcoin. In Venezuela, you can buy used cars with Bitcoin. I don’t doubt there will be wages in Bitcoin soon or some other crypto.
As to the current state of Bitcoin, I would not keep money in the exchanges long-term or set up unsecured on-line wallets. Remove your profits quickly, get back in on the lows, just like everything else to play it safe.
I do agree with Pollack on reducing complexity. Paper can serve us well just like Benjamin Franklin wrote; however, its management must be wrenched from the central bankers and to do that, the current corrupt government has to be dismantled.
God Bless you, Greg.
Thank you hobuk!
Greg
Good as always. I think it is time for Clif High to come on again, since he has injured himself and is not putting out an “Alt” report for a bit. It is always interesting to hear his take on what is happening around the world and with the Alt Cripto currencies.
Doug C.
So using Bitcoin to enact a transaction is too slow, have you tried to send money via Bank transfer from one country to another? Can take 2 or 3 days where as BTC transfer should resolve in around 2 hours.
Bitcoin does have limitations it isn’t straight forward to trade back in for FIAT but there are some sites where you can use your BTC to purchase Gold and Silver which is a nice way to spend any profits.
I found this very interesting….I hope you guys will too.
http://sgtreport.com/2017/06/inverted-reality/
OTHER OPINIONS ON CRYPTO CURRENCY:
INTERNET? WHATS THAT ! LOL: https://youtu.be/95-yZ-31j9A
MacAfee ( MGTI) AND SENTINEL PHONE AND BITCOIN MINING
https://youtu.be/hmJWI0T-8_Y
https://youtu.be/VScb8KcL488
https://youtu.be/3398L71QRMU
DAVID BOWIE- INTERNET= https://youtu.be/LaHcOs7mhfU
BILL GATES: https://youtu.be/JV4L11l48TQ
RICHARD BRANSON: https://youtu.be/fOFpZVJyA-Q
Silver is on sale. Buy it with debt notes while you can…
Derk,
Good idea!!
Greg
Derkong Im planning a large purchase July 1 st
DOW all time record high!
June 19th! Read it and weep Hunter!
In your face! Forget fear not! Don’t believe Mannarino, Kirby, High, etc…
I luv it!
Scott
Scott,
Print, print, print. That’s what you love??? Total stupidity. Please read and multiply this by 10 or so: http://hosted.ap.org/dynamic/stories/A/APFN_US_ILLINOIS_PAYING_THE_BILLS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2017-06-17-11-53-44
Greg
Greg,
I read the link you sent. First, I don’t disagree with you or the link. That’s reasonable. Now let me set you straight.
We have been here a very, very long time. I am a long, long, long time listener. Greg, you have been doing this for quite awhile. In fact, you just won a trophy or a meddle. You are quite proud of it. I think it was google who gave it to you. We both know it was about time, and yet, I was here listening and writing long before you got the recognition. You have to realize how much work you have accomplished. It is truly impressive. Absolutely nothing to be dismissed or denigrated. I applaud your success!
On my side, I just renewed the national ID. You must after 5 years. You and I both realize you were here far longer than 5 years. During this entire time, the state of Illinois has been in dire straits. Therefore, my problem with you, is that you used an old arguement. We are way too far down the path for you to use any of these arguements because it fails to address in fact how long, and how many interviews, and WNWs, you have provided for your audience. Moreover, Greg, and it must be mentioned, how much reading I have absorbed from the comments you receive based on your work product. It’s been truly staggering! As a result, you can not use tired old points with me. I learned too much from you. That is the simple truth.
We are so far past overdue for a huge crisis your arguement does not make sense. Even your guest Mr. Williams, the shadowstats number cruncher, can not explain how this kept going. It’s frustrating. I stopped buying metal. I have enough. I stopped worrying about the economic future going down the toilet. It should have happened already, a long time ago. Recall the bank crisis of 2008! We now have Trump. Not Obama! Not Bush!
I’m mocking your predilection for economic disaster because you fail to explain, as well as your guests, why this thing kept upright. It should have fallen already. There have been so many wrong predictions. Let’s just take Bill Holter, whom we both respect. Holter has been around doing hundreds of interviews. Think about it. Try to fathom how much Holter has written. His prolific writing stretches back so far it feels like prehistory. Holter has been amazing in the sheer amount of material he has penned. Yet, Holter has been wrong.
We are on cruise control. This economy is plodding along for lack of a better metaphor. It just keeps going. I agree there are arguements to be made, but most have been made before many times. Many, many times! Think of Gerald Celente. He has been around a long time as well. His work product is more grandiose than yours because he is older than you, yet essentially the two of you agree on more than you disagree.
I hope you print this one Greg. I hope you address the issue again and again. Why has it been so long? How did this manage to continue despite numerous guests on your show suggesting otherwise. How does it feel to have been kept waiting for your easy to understand big idea to come to fruition? Oh sure, you got to do more interviews. More WNWs. Week after week. Month after month. Year after year. I get it Greg. I have been here. I know.
This is why I poke fun at you. But inside, I am angry you were wrong. This shouldn’t be. You say print, print, print. I say ok. It’s working. You’re still here.
And so am I.
Scott,
We are not on “cruise control.” We are in a totally fabricated controlled global market from top to bottom in each and every asset class and currency. We have crime and fraud on a global scale never witnessed in human history. Forgive me if I, and most every other guest, missed the fact the central banks would be this reckless and this criminal to buy time propping up a system that is going to fail. Why did they buy time? To get to safety while the ship hits the rocks and wipes out every unprepared soul. The chaos cause by what is coming will provide a great backdrop to install the New World Order change they have wanted for decades. I have covered this in full, and the simple fact that the Fed has a trading desk says it all.
SCOTT MILLER,
I simply can’t understand why you are mad at Greg.
About 20% of my net worth is in PMs and I’m HAPPY the squids has somehow managed to hold it all together. Do you understand what you are wishing for?
Btw, Greg never told anyone to convert ALL of their assets in PMs!
Scott,
Your tenuous grasp on auto-justification is amazing! And the ease at which you find fault with the site owner – almost overwhelms. It’s a little long-winded at attempting ‘soft ridicule’ – but we know you and are used to it.
There are TWO ISSUES that you don’t seem capable of comprehending. One is the mass of according and reinforcing material and reporting which is proved time and again. The other is that – it is the End which either brings one out well or badly; and the End hasn’t been reached yet. You seem to only exist in the ‘now’ and ‘current paradigm’: as if nothing else is admissible. You basically condemn others through your own short-sightedness. So you will continue to be right, until you are wrong. Greg Hunter, being contrary to your position: will continue be wrong, until he is right. You can’t see the irony in this juxaposition?
You call making hundreds of thousands in the stock market stupid. Are you nuts? The smart person takes out money from time to time, to buy ah, things like houses cars vacations, college . Put some of those monster money making stock proceeds into the bank. People are making fortunes. If people are dumb enough not to take out some of their winnings then a crash would hurt them indeed. But that’s not smart investing. Stupid..Really????
Robert,
Enjoy the Fed manipulated markets while you can and no I am NOT nuts. There is going to be a price to pay for this.
Greg
Scott Miller,
The nobility of France prior to the French Revolution also scoffed and mocked the warnings and the changing undercurrents of the times that had inconveniently come to their front doorsteps. When Fate eventually unseated them, they were both unprepared for the consequences and how they could save their families. History shows that those that are blinded by pride and make it a practice to ignore Murphy’s Law , rarely get an opportunity for a do over!
SOD
Scott Don’t you realize the markets are all being manipulated Either you’re a paid troll or dumb as a box o rocks kid
It is the End, which brings one out right. See you in the End, Scott.
Bitcoin is so tremendously low for transactions, that if i live in u.s.a. and want to transfer 1 Bitcoin to someone living in Australia, it takes what…. 10 minutes. 20… 1 hour??? How many days if i do it by a bank wire…. 😮 😮 Sooo put every thing in the right prospective… 😉
felix. (not a bitcoin owner…)
While the cryptocurrency development is interesting and timely, it has little relevance to the average man who has little capital, maybe owns his car, maybe not, rents or pays on a mortgage, and even if he owns his domicile must still pay insurance and taxes for the privilege, is trying to raise a family, educate his kids, etc. The value of the cryptos, it seems to me, is the anti-fiat sentiment they represent. As the activity in cryptos increases, and as the “pot” of capital invested in cryptos grows, you will have a good indicator for the feeling of those with capital who are seeking to de-couple from fiat and government and protect their wealth. This is why cryptos are often referred to as “virtual gold”. For me and the everyman, it is a sideshow. At 65, I continue to prep as possible (silver, copper, brass, and lead and food and supplies) and pay my bills on time. I also still bring the car back home full of gas every time out. Best always. PM
Greg
It seemed very strange to me that Comey comes to testify and everyone thinks he is going to sink Trump and Comey ends up helping Trump……Comey wont help them in this new investigation.
What I think is very strange is that this investigation could collar other people….Could this be some bizarre huge trap? For those in the huge circle that are trying to get Trump .
Could this end up snaring Trump’s enemies? Just wondering?
I mean these
.
My point is that
WD,
Maybe?
Greg
WD: Don’t forget about the Congressman Trey Gowdy. He is like a rotweiller with a bone when it comes to Hillary, comey, lynch and a few more. Never giving up.
Bears run amok!
Black bear kills boy, 16, during race in Alaska
http://www.middletownpress.com/article/MI/20170619/SPORTS/170619596
http://www.wtol.com/story/35633301/black-bear-struck-by-vehicle-killed-in-ohio
https://www.usatoday.com/story/news/nation/2013/08/18/bear-attack-girl/2669193/
Bear killed, DNA will show if it attacked Mich. girl
Bear that roamed into Indiana captured, killed in Michigan
http://www.clickondetroit.com/news/michigan/bear-that-roamed-into-indiana-captured-killed-in-michigan_
Black Bears Kill
http://www.times-news.com/sports/local_sports/black-bears-kill/article_8a49bdd8-6cfa-51d1-b12f-c1c2a1cd539e.html
Mother ripped apart by a bear which buried her alive for its next meal in Siberian woods reveals how she screamed a prayer while fighting it off with her bare hands
Natalya Pasternak, 55, was set upon during trip to woods with her friend
She said: ‘I tried to escape, but the predator started to tear my legs apart’
Horrific picture shows her bloodied body partially buried under leaves
Rescued by hunters who shot the animal dead as it prepared to eat her
By WILL STEWART FOR MAILONLINE
Read more: http://www.dailymail.co.uk/news/article-3126354/Mother-ripped-apart-bear-buried-alive-meal-Siberian-woods-reveals-screamed-prayer-fighting-bare-hands.html#ixzz4kVXionJr
Follow us: @MailOnline on Twitter | DailyMail on Facebook
MEET UNCLE SAM – WITHOUT CLOTHES
http://news.kontentkonsult.com/2006/04/meet-uncle-sam-without-clothes.html
It is currently 87 degrees at 3 a.m., expected to reach 119-120 degrees today. I have all my doors and windows open at the moment to catch the night air and will close at 7:00. A temp of 87 is not what you think of back East, very nice actually when the humidity is so low.
Yesterday, it was 118 and I spent several hours in my garage while a neighbor worked on my car. I have not had to run my air-conditioner more than an hour, running it in 15-minute segments. The humidity outside was only 6%. Today will be more of the same.
I experienced the record 122 degrees in 1990. We had just bought our home and I watched out my front window as the heat fried all my new landscaping. I don’t recall being personally uncomfortable though. I once spent the month of June in PA and could not wait to get out of there and back to AZ. The humidity was unbearable.
I did not require any heating this past winter. I have shut off my water heater for the summer, which is located in my garage. No point in paying utility costs for something nature is currently providing for free.
It is July and August, lower temps with humidity, that wipes me out. I noted all the hysteria about the temperatures in Phoenix and Las Vegas. A normal summer. It is the desert after all.
I do the same. Open the doors and windows at night and close then in the morning. I get about a ten to fifteen degree differential. If I can keep the house under 80 – success. Someday – I may build a home-made swamp cooler. (Don’t tell my wife.) Making more shade for the roof above the kitchen now.
Register Cash-Bit Coin or Go to Prison for 10 Years
https://www.youtube.com/watch?v=Q3RE7-0Z-Jo
Sen Feinstein and Grassley want Americans to list how much cash they hold outside the bank or face ten years in jail. This includes bitcoins as Warren suggests. Feinstein and Grassley tried to push the gun registry. This certainty is unconstitutional. Feinstein and Grassley need to be removed.
JimH,
Senate Bill 1241 – Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017, refers to things like money laundering or other criminal activities. Also to the transporting of more than $10,000 worth of ‘monetary instruments’ across international borders. I saw nothing that says that every American has to report how much cash they have in their wallet or at home or if they have a $20 gift card or $100 in bitcoin.
https://www.congress.gov/bill/115th-congress/senate-bill/1241/text
Paul form Indiana. In regards to gas, When I was in the Strategic Air Command, one of the rules was when your gas tank gets half empty, consider it as empty and refuel . If you use this rule, you will always have gas when the trouble comes.
Brother Flattop, I once had a Suburban with a 32-gallon tank. That was a challenge sometimes to follow my own rule. Now the biggest fuel tank I have is 16-gallons, but the rule is the rule. Best always. PM
I had an old F-250 that I shoehorned a 354 Perkins diesel in. With a 30 and 22 gallon tanks I could go over 600 miles without refueling – house to the border non-stop. Now I refill when one bar appears.
Greg after watching your site many years. I am so proud to say I am still a watchdog. I speak for many of us. Art Barns, Chip from Hawaii , and so many of us love your site. Thanks to all of you for the information you give. Wish I had found this site before it started, I could have saved thousands.
The( only )site where people stand by what they say with true names. I am a proud watchdoger.
Thank you James!
Greg
I held some bitcoin and my phn app malfunctioned making it impossible to sell or send. I complained on this forum so I thought I should update that coinbase rectified the situation and the app is functioning again – although I understand the crypto could go to $1M / btc I believe it will settle more likely between $100-1000 and that could take another 5 or 10yrs. There are just too many alternative coins.
my take is if you don’t hold it you don’t own it – but having a little is probably a good plan, no more than you could lose (and laugh about).
Thanks Greg, Tremendous guest and Excellent interview as always
Let us know how it works out zteveO.
Greg
If VISA is better than Bitcoin why did VISA just hire blockchain engineers?
More elite fear mongering…….Bitcoin is officially currency in several major nations like Japan.