CNBC Becomes Crypto News BitCoin Network

This Bitcoin bubble is the most irrational of any of the bubbles I've seen. I think there is less of a legitimate case for Bitcoin than there was for any of the dot-com stocks that went to zero or buying subprime mortgages.

Wiping Out The Debt With Inflation

I think the problem we are going to be confronted with is going to be much worse than a financial crisis. It is going to be a US dollar crisis, and it is going to be a sovereign debt crisis where the bonds people are worried about are not some sub-prime mortgages,  it’s going to be the U.S. government that people are worried about and the solvency of the U.S. Treasuries.

If it’s a US dollar crisis and people are worried about the US dollar, the only thing worse than owning a dollar today is owning the promise of being paid in dollars in the future. 

I don’t think we have the courage to default and admit to our creditors that we don’t have the money and we can’t repay. I think we will create all the money that we need so we can pretend to repay, but what we end up doing is wiping out the debt with inflation.

Related trading instruments: SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), iShares Barclays 20+ Year Treasury Bond ETF (TLT)

Money: The Real Alternative Is Gold

People don't trust fiat currencies they don't trust a dollar euro yen they're looking for an alternative and believe me the real alternative is gold and more and more people are going to embrace it.

Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ)

Silver Will Get To 40 At Some Point

Silver will get to 40 dollars an ounce at some point. (iShares Silver ETF (SLV), Hecla Mining (HL))

Another Reason Why Gold Prices Are Suppressed

A lot of the typical gold buyers who were worried about the economy when Barack Obama was President, they're not worried anymore. They think Donald Trump is gonna make America great again and they're wrong. He's not going to make America great again.

I hope America is great again at some point but it's not going to happen during the Trump presidency and people should be more worried because a lot of the problems that built up under Obama are getting worse under Trump.

Gold: People Don't Trust Fiat Currencies

People don't trust fiat currencies they don't trust a dollar euro yen they're looking for an alternative and believe me the real alternative is gold and more and more people are going to embrace it. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ))