Porter explains today that Bitcoin’s price and its intrinsic value are understandable (and predictable) using standard economic metrics. And even if you’ve never understood the first thing about the internet or Bitcoin, you can easily understand (and predict) its price.
Stablecoins represent a way to completely disintermediate the entire banking system, replacing vaults with cryptography, and expensive private payment networks with the free internet. This means the demise of traditional banks.
Whether you understand it or not, the nature of money is changing forever.
As soon as people get used to using digital money, like stablecoins, they’re going to ask themselves a simple question: why bother using the U.S. dollar at all?
The next few years are going to be devastating for most people all around the world. We’re heading toward a new version of 1929. How ironic it will be if, in the future, people ask about the Great Depression of ’29 and then have to ask, “which one – 1929 or 2029?”
We are in the midst of a currency collapse. An outright default is coming. And, most likely, a civil war. And most people will not see it coming. Here’s what you can do to protect yourself – and your investments.
Over time, the establishment of stablecoins will lead to a complete revolution in banking. This is like Netflix coming for Blockbuster. All of the reasons physical banks needed to exist just disappeared.
In today’s Daily Journal, Porter writes that there’s a growing likelihood that the entire U.S. financial system will have to be “reset,” because our government cannot afford these debts.
In today’s Daily Journal, Porter writes that because of the speculation in gold and Bitcoin, and the country’s mountain of debt, America is going to default on its bonds. It happened in the 1930s. And it happened in 1971. And it’s going to happen again.
Tomorrow, May 3, is the annual Berkshire Hathaway meeting, and Porter reviews Berkshire’s performance and offers a solution for Warren Buffett that would make shareholders very happy.
Today, Porter explains how he uses the options market to establish major positions in his portfolio, while, at the same time, generating safe cash returns that are vastly more than one can earn in fixed-income securities.