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Rob Kirby: Rising Crypto Currencies Means Crash Near

  • Rise of Crypto Currency Means Rejection of US Dollar: Rob Kirby
    by Greg Hunter’s USAWatchdog.com 
    Forensic macroeconomic analyst Rob Kirby thinks the U.S. dollar is in big trouble. He says the tip-off is skyrocketing crypto currencies such as Bitcoin.  Kirby explains, “The rise of the crypto currency is an expression of the rejection of the U.S. dollar as a store of value in international markets.  To back that statement up, I would only point to the four largest crypto currencies by market capitalization and what they have done in the last three months. . . . Bitcoin gets most of the press, and there is a good reason for that.  It is the biggest crypto currency by market capitalization at around a $34 billion market cap.  That $34 billion market cap has doubled in the last three months.  The three crypto currencies behind Bitcoin in market capitalization are Ethereum. . . . It has gone from a market cap, three months ago, of $1.12 billion to $15.7 billion.  So, it’s up 13 times in three months.  The next biggest one by market cap, it’s called Ripple, is currently at a $12.9 billion market cap.  Ripple had a market cap 3 months ago at $205 million.  So, Ripple has gone up 60 times in the last three months.  The next crypto by market cap stands at $2.38 billion and it’s called NEM.  Three months ago, NEM had a market cap of $56.8 million. . . . So, it’s gone up 20 times in the last three months.  To anybody paying attention, I would suggest that if gold and silver were not strapped down in a straight jacket with the suppressive activities of the central banks and the Exchange Stabilization Fund (ESF) in the United States, they too would have probably ratcheted up 10 to 20 times easily in the last three months because what we are experiencing globally is the rejection of the U.S. dollar.”


    Kirby says the key assets in the game for the big money players are gold and silver. Kirby contends, “The Achilles heel of this whole shooting match truly is physical precious metal.  It’s the one thing you cannot paper over unless you have people willing to excuse you of making a physical delivery of metal for a premium. . . . So long as people are willing to take fiat money in lieu of physical precious metal, the game can continue.  The minute someone is due a large chunk of physical metal and the seller cannot supply it . . . that’s when this whole thing unravels.  That’s when we see an uncontrollable rise in the price of precious metals like we’ve seen in the last three months in the crypto currencies.”

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May 24, 2017 - Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , ,

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