Bitcoin: Was Lincoln Wrong?

Abraham Lincoln once said "You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time.” The only way the Bitcoin bubble won't burst is if Lincoln was wrong.

Against Bitcoin & The Minimum Wage

I think it's interesting the many of the people on social media criticizing me for being against Bitcoin are also criticizing me for being against the minimum wage. If you're anti-force, and support a free market when it comes to Bitcoin you should feel the same way about wages.

Bitcoin: Bubbles, Tesla, Elon Musk

The real reason Elon Musk may be interested in helping to sustain the Bitcoin bubble is that the last thing he wants is for bubbles to start popping. When you live in a bubble it's very dangerous to throw pins at others. The risk is that an errant pin inadvertently pops yours!

Silver: Supply-Demand Dynamics

The supply-demand dynamics are also positive for silver.

Silver investment demand hit a 5-year high in 2020. It won’t likely slow in 2021. And while industrial demand took a big hit due to the coronavirus pandemic, it is expected to rebound as the global economy begins to recover.

Silver demand will also likely get a boost from the push toward solar power and other green energy initiatives in the coming years. Solar power generation is expected to nearly double by 2025 according to a report released last summer by the Silver Institute. Even if the global economy recovers more slowly than expected in the wake of the pandemic, green energy demand for silver will likely remain robust. Analysts expect many government stimulus plans will include funding for green initiatives.

On the supply side, mine output fell sharply in 2020. Production was projected to fall by 6.3% to about 780.1 million ounces. The big drop in silver output is largely a function of mine shutdowns due to coronavirus, but mine output was already trending down before the pandemic. Global mine production fell by 1.3% in 2019.

(in Schiff Gold website) 

The Inflation Threat Will Grow Much Larger

It's clear by the way the Federal Reserve tweaked the language in its official statement that it's more concerned about growth and less worried about inflation. 

This assures the inflation threat will grow much larger as the Federal Reserve ignores its rise and prints more money to fund deficit spending.

Bitcoin Incorporates Elements Of A Ponzi Scheme

Bitcoin is neither a Ponzi Scheme, a Pyramid Scheme, nor a Chain Letter, though it incorporates elements of all three. 

It's really a more sophisticated version modernized for the digital age. 

My guess is that in the future similar schemes will be referred to as a Bitcoin Scheme.