ARMSTRONG ECONOMICS: The Cryptocurrency Crisis

The NY Post has published how people are losing everything and some are contemplating suicide. This is the normal Boom-Bust Cycle that governs. I know a lot of analysts disagreed with me. All I can say if they did not see this coming, then they were too biased and caught up in the trade for themselves.

As I have said, cryptocurrencies are an asset – not money. They are by no means a safe harbor against “fiat currency” and will NEVER be a store of value because NOTHING ever is. Gold rises and falls. Even during the 19th century, there was inflation and deflation. Guess what? When you are on a gold standard, the value of gold rises and falls just as the dollar does right now.

There are people who REFUSE to ever listen and keep preaching that a return to the gold standard somehow mysteriously will solve all the problems. I think they are smoking their marijuana way too much. I do not know how to explain it any simpler. There is a cycle to absolutely EVERYTHING!. There is NO standard that will EVER work because of the business cycle. Here is a chart of the Gold/Silver Ratio. If there was this fictional world where somehow money never appreciates nor declines, you have crossed the line into Marxist Theory and Communism. That was the whole reason behind Marx – to create the perfect world and end recessions and depressions.

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About the Author: NC Scout

NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small unit skills rarely if ever taught anywhere else in the prepping and survival field, including his RTO Course which focuses on small unit communications. In his free time he is an avid hunter, bushcrafter, writer, long range shooter, prepper, amateur radio operator and Libertarian activist. He can be contacted at [email protected] or via his blog at brushbeater.wordpress.com .

4 Comments

  1. mike May 14, 2022 at 08:58

    True enough about gold, needed to be said. Many do seem to labor under the idea that it (silver as well), can only go up in value. They are the first ones running for the lifeboats of there is any sort of counter intuitive downward trend in the price as has been the case of late. I still think that the strength of PM’s is the same now as it has always been, there is only so much of it and it takes considerable effort to mine it and refine it into coinage and bullion. The idea behind the expression :”safe haven” or a “hedge” against inflation is understood to be relative. Some people just don’t get that or refuse to accept it.

  2. boss21 May 14, 2022 at 10:17

    Pays to have multiple irons in the fire. The dollar and ruble are going up fast these days. Like the gunsmith in ‘Shooter’ said – ‘ gunny, just when you got it figured, you’re wrong’. Paying attention to Armstrong over the years saved my financial ass.

  3. Chris May 14, 2022 at 19:54

    Maybe I’m just a old F…

    But the Federal & Wall St. Thieves got into it(clue) and CIA/FBI can Steal it whenever they feel. Soooo.
    Whats the point??

    It’s Poison now.

    I just dont get it.

    Now if it’s just another…Stock type gamble..whatever ok. Rolls ya dice, Takes ya chance i guess.

    I was under the impression this shtuff was suppose to be Untouchable/Untaxable. At least when it first started.
    Seems to me, like the Internet (when they turned it into a stripmall) They Ruined It.

    Ain’t a whole lota 🖕🏻🖕🏻 Left anymore. Too Bad.

    Ehh, I’m old..
    Ain’t my farm no more, seems it got repo’d.

    • boss21 May 14, 2022 at 22:40

      They can only grab what is on the exchange, same with gold and silver in a third party vault , bank accounts etc since ‘patriot’ act . If you have crypto on a hard wallet they can’t touch it unless you give them the keys under duress. Same with safe combinations etc.Crypto proved itself in the Canadian truck convoy bank grab. No private wallet was breached. Digital Hawala.

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