Happy Friday Crypto Aficionados!
Did you know that in World War 2 Germany tried to collapse the British economy by printing millions of counterfeit pounds?
It didn’t work. Well...they didn’t implement the plan, so we don’t know if it would have worked.
They changed plans midstream and instead used the counterfeit notes to pay for spies and other salacious things...
Indeed, America is proving right now that it doesn’t matter if you print 3 TRILLION dollars — the economy won’t collapse! Or will it?
Because some nations are closing their banks and not letting their citizens withdraw their cash!
We are living in HOSTILE times...
And Lebanon just showed us the best use case for Bitcoin and at the same time the best argument against CBDC’s:
The Middle East Institute gives the best summary about what really happened in Lebanon here.
TLDR: Their gov’t borrowed waaay too much money. Fractional reserve banking exacerbated the problem. Covid 19 shrank the economy and did the rest…
BITCOIN FIXES THIS
No one nor government can “close” your bitcoin address!
And OMG does the former Secretary of the Treasury have the last word on this— check this out!
It doesn’t get simpler than this:
"In the u.s house and the senate time and again presidents of both parties have run up the debt irresponsibly with no plan to address it. So thank god for bitcoin and other non-fiat currencies that transcends the irresponsibility of governments including our own..."—Senator Lummis
That is an indictment !!!
Put your money where your mouth is right?... well she did:
Best graphic of the week:
Epic this week — Jamie Dimon revealing his naivety about Bitcoin:
“How do you know it ends at 21 million?” — duh!
This “naivety” is strange indeed, coming from someone who is developing his own blockchain!
Regulation
How many times have we heard this?
Janet Yellen repeats government LIE #1:
“We’re only going to tax the rich...”
We have been warned!
This is just one of many SIGNALS — the government is going to issue the CBDC and confiscate your cash and all other assets!
And since we're on the topic of value, and everybody's always saying Bitcoin doesn't have any value, look at what Janet Yellen gets paid for her speeches; are they really that valuable? (7 million per freakin’ year! really?!)
Institutional adoption
TEXAS ROCKS!
As usual, Texas is taking the lead and kicking ass — Governor Greg Abbott announced Texas is going to be the number one place for Bitcoin!
Altcoins
Want to see what it looks like to transfer 40 million dollars in one go? Check this out:
Price action
Bitcoin hit $60k again — congratulations!— if you bought the dip when it was down to 40k :-)
Friendly Reminder: Bitcoin all-time high is $64,805.00.
So…can you predict prices?... this guy does and he has been on the money for a while:
And here's a strange one from Hal Finney himself. You don't know who Hal Finney is? — he's the first guy that ever received a Bitcoin… ever! — some say he was a Satoshi:
Best Posts of the Week
That’s it for this week my friends,
See you at the top,
Eric
P.S. Get the new DEAD SIMPLE Bitcoin Tracker HERE!