The reason I mention this is because I think the US economy will collapse when the Federal Reserve stops propping it up.
Lots of other people around the world are thinking this as well, and that’s why they're ditching the world’s reserve currency - the US Dollar - and getting into crypto, mainly bitcoin but also etherium, ripple, eos, chainlink, ox, and tons of others.
Etherium is the second hottest cryptocurrency. It came out in 2015 for $0.43 a coin and is now going for over $2,000.
Why is the price going up so much?
I think a big reason is how awash our economy is in easy, cheap, still-wet-from-the-printing-presses money.
There’s so much money that people don’t know what to do with it, so they’re buying unopened copies of the original Mario Bros. for $600,000 and non-fungible tokens for millions. You’d probably do better having your money in sports cards than stocks right now.
Of course, stocks ain’t bad. All the losses from the pandemic have been wiped-out and the markets continue to soar. It’s hard to lose money these days.
But how long can the stock market keep going up before it inevitably comes down?
I worry when I see stories like the one coming out of New York, where the state is going to give every illegal immigrant in the state $15,600 if they can prove they’ve been working there sometime over the past year. If they can’t, but can prove they’ve been living there, they’ll get $3,200.
This is all part of the state’s $212 billion budget that just passed. A big help with that was the $50 billion in free money Biden gave the state with his $1.9 trillion ‘stimulus’ bill.
It’s figured there’s 275,000 illegal immigrants in New York, with 173,000 of them in New York City alone.
I’m sorry...but this is pure craziness!!!
We have veterans that fought in our wars that are living on the street, and you want to give people that broke the rules to come here and live here and work here a shit-ton of money?
I think that’s wrong on so many levels, but lawmakers in New York think it’s the right thing to do.
And why not? They know that no matter the financial problems their state runs into, Biden will come and bail them out.
This is why people are rushing into cryptocurrencies, because they have no faith in the dollar.
Some think that Bitcoin will get up to $80,000 before summer and $120,000 before the end of the year. I dunno about that, but with all the free money the government is handing out, why not put some into the currency? You don’t have to buy a whole coin. You can invest a few hundred dollars and get something like 0.000023 of a bitcoin.
Remember, the currency has increased by $30,000 just since the start of the year.
Meanwhile the US Dollar has lost a lot of value through inflation. Stocks and houses are probably the two most inflated assets in the economy right now.
Homes in Montana have gone up in value by $200,000 or more over the past year or two. Are they really worth that much? I guess as long as someone is willing to buy for that price they are, but how long will that continue?
And what’s the point in making millions off of bitcoin if society around you crumbles and there are no safe refuges to hide? Because that’s what things like Bitcoin or gold tripling in value means - the rest of the financial system is collapsing.
That’s probably why guns are selling-out left and right and ammo is as inflated as homes. A bullet might have been 10 cents a year or two ago but now it’s $1.
Most of these things will probably become moot as environmental catastrophes around the world push food shortages and mass human migrations to the fore. Many of the migrants crowding the southern border are fleeing hurricane destruction, and we’re already seeing record-levels of earthquakes and volcanoes around the world. What happens when rice triples in price?
Maybe it’s all just coincidence...or maybe God is trying to get our attention. Hard to say, or is it?