Precious Metals

The Bitcoin Bubble: Hidden Risks And The NSA

August 10th, 2017

“These digital currencies might make fiat currencies look good.
That’s how bad they are.”
– Peter Schiff

proven otherwise, Bitcoin, and all cryptocurrencies for that matter, are
faith-based “currencies,” just like the U.S. dollar or any other fiat currency.
Instead of “full faith and credit
of the U.S. Government,” cryptocurrencies require full faith in blockchain
technology. The Daily Coin posted an interview with Ken Schortgen of The Daily
Economist in its revealed that: “The NSA developed blockchain technology
and released the information in a white paper that has been uncovered by Ken
Schortgen, Jr., The Daily Economist –
LINK.” The white
paper can found here:
How To Make A Mint: The Crytotography Of Anonymous
Electronic Cash – NSA, Cryptology Division, June 18, 1996.

Built to be
skeptics, we have been wondering why Governments and Central Banks tolerate
Bitcoin and all of the other cryptos
if indeed the cryptos are the
digital equivalent of the gold standard.
As it turns out, the
NSA de facto has the ability to hack crypto blockchains. We are certain
the NSA is not the only entity globally with that ability. Furthermore,
the cryptocurrencies are absorbing a lot of fiat currency that likely would
otherwise be flowing into gold and silver. It reminds us of GLD and SLV,
both of which have absorbed billions of institutional cash into two “black
hole” vaults that have yet to withstand a bona fide independent audit.

In this
episode of we bravely shred the Bitcoin and cryptocurrency mystique, which are
more emblematic of the global asset bubble than a suitable substitute for gold
and silver’s monetary function:

Dave Kranzler

Dave Kranzler spent many years working in various Wall Street jobs. After business school, he traded junk bonds for a large bank. He has an MBA from the University of Chicago, with a concentration in accounting and finance, and graduated Oberlin College with majors in Economics and English. Dave has nearly thirty years of experience in studying, researching, analyzing and investing in the financial markets. Currently he co-manages a precious metals and mining stock investment fund in Denver and publishes the Mining Stock and Short Seller Journals. Contact Dave at

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Source: Sprott Money