You are here
Michael Ballanger: The true meaning of bitcoin's success
12:27p ET Saturday, December 2, 2017
Dear Friend of GATA and Gold:
Mining and market analyst Michael Ballanger argues today that the success of bitcoin signifies in large part recognition by the wealthy that government currencies are unreliable.
Ballanger writes: "Very large holders of American dollar wealth have decided that they want to have control of the currencies to which they transfer wealth, keeping it away from the interference and meddling of politicians and the global banking cartel. Whereas gold and silver, by way of physical possession, were once the stores of value within which wealth sought sanctuary, government intervention and manipulation by way of the derivative exchanges sent the members of this elite class of billionaires scurrying for the ultimate alternative to the precious metals, and herein lies the genesis of bitcoin.
"In my opinion, bitcoin represents the final chapter of the repudiation of fiat currencies by those of the super-wealth fraternity. They own all the prime real estate around the world; they own all the publicly traded behemoths listed on global stock exchanges; and they own every politician and every court of law. Ergo, there was only one glaring vulnerability to which the elite class were exposed: currency risk."
Ballanger's commentary is headlined "The True Meaning of Bitcoin's Success" and it's posted at 24hGold here:
http://www.24hgold.com/english/news-gold-silver-the-true-meaning-of-bitc...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:
http://www.goldmoney.com/?gmrefcode=gata
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
