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Yesterday I posted about global banksters weaseling their way into the cryptocurrency market in an effort to control it. Given that the market cap will likely push the $1 trillion mark this year, (all things being equal) it was inevitable that they would... This is a plum too ripe to pass up. Without reiterating their history of manipulating global currencies, as well as commodities such as precious metals, I think it's fair to say that there is no dirty trick they won't use to not only gain entrance, but manipulate the crypto market itself. It seems that much better minds than my own seem to agree... in fact, it already seems to be happening.
In an interview with Craig Hemke of TF Metals on the SGT Report (I'll post the video at the end... I can't urge you strongly enough to watch if you do any trading in crypto's or metals) it appears that our friends at Morgan-Chase are shorting BTC positions the same way that they employ the same tactic to artificially depress the silver market. One thing I learned that I was previously unaware of is that you can buy BTC futures, the same way you can Gold, Silver, Pork Bellies, or any other commodity. Please note: OWNING FUTURES IS NOT THE SAME AS OWNING THE THING ITSELF. I can't emphasize this enough. When you buy futures, you're only buying "paper assets," you don't actually own anything- it's only smoke and mirrors (unless you hold several million and can short them yourself).
For anyone not aware of how it works let me try to simplify... If you buy one ounce of gold, you have 1 oz. of gold. If you buy 1 oz. of gold in the futures market, you own air. If you try to turn it in for actual gold, you will find that perhaps 30 other people own the same oz. of gold. How do they do it? Much the same way that fractional reserve banking works, I believe. They don't actually have to have the physical gold on reserve to sell it. As long as they have SOME gold on hand they can sell it over and over again. Now they're doing the same thing with BTC. DO NOT BUY BTC FUTURES! You might be ok, but like with gold and silver, it's much better to own the actual metal, or cryptocurrency.
It appears that the current dip in the price of BTC is Morgan-Chase shorting some of their position in an effort to manipulate the market. Will it work? In the video, Mr. Hemke says that it might in the short term. In replying to a comment yesterday I said: I think BTC will be fine- I look at this dip as the perfect time to buy. Our big secret here in the crypto market that they haven't figured out yet is that we're here because we don't trust them. They might cause a little glitch with some of the more "scary" holders... But most are savvy enough to stay the course. I believe that in the long run this will be crypto's salvation. Mr. Hemke makes much the same point... Very few people, especially old people and Millennials (Ah- at last common ground!) trust banks- and bankers even less. That's why we're here and investing in cryptos in the first place.
I don't like to give investment advice- I have been known to be wrong... I once bought 1000 shares of some coin because it was $0.01- the only way to go is up, right? WRONG!!! So that having been said- in the immortal words of Patrick Henry: "Give me BTC or give me meth!" Wait, that isn't right!!! Seriously, I intend to buy all the BTC I can while the price is down a bit. I believe that in the long term cryptos will turn out to be the democratic alternative (because they aren't government owned) to both fiat and the banksters.
GIF by @papa-pepper
Thanks a lot for keeping up the faith:
The secret to cryptocurrency as a social revolution is that crypto promotes the fusion of ownership and control. Our entire society is earmarked by the opposite.
In case anyone doesn't know, @richq11 's advice is the mild version of the old standard advice to not leave your coins on an exchange.
"If you don't have personal control of your private keys" - only possible if it's in your own wallet - "you don't own it." This can never be repeated enough. :)
One of the advantages of Steemit is that you have to have your own coins in your own wallet, and in the form of Steem Power, to earn curation rewards. Thusly, you're incentivized to keep your coins under your own control.
Right now, the cryptocurrency revolution - the fusion of ownership and control - is compartmentalized in the crypto sphere. But it's only a matter of time before it spreads....
Very well put! I wish I could resteem a comment. I also believe that the "fusion of ownership and control" is what- in the long run- will defeat the globalist bankers plan. The only thing that can defeat "us" is by people listening to them and buying into the derivatives scheme.
Well, thank you!
One of the reasons I was away for such a long time was me reading up on the theory of the managerial revolution. As I told @klye [he's back now too], I also wrote about it in a manuscript that ballooned to more than 40,000 words. I've been fussing with it because the first draft was little more than a brain dump.
40,000 words...and I only scratched the surface of how cryptocurrency has the potential to completely upend managerial society. Yikes!
Hurrah! I firmly believe that what draws people to crypto (me certainly) is a fundamental distrust of banksters and the "managerial society." We're the "Currency Outlaws" and intend to stay that way!
I think they more they keep trying to gain control, the more creative the crypto community will become... When BTC came out, it was revolutionary (in its most literal sense) and now it's going mainstream. I have great faith in guys like you, @klye and other innovators!!!
Indeed you are most correct. the futures market is air and worthless. It is what we call fraction banking. it means nothing unless you can hold it. Hard assets are all that matter in the end. If it is on paper all you have is a piece of paper only good to wipe you behind. Best get hard assets my friend. Good post!!!
Thanks my friend... That was what I'm trying to encourage people to do with this post... The video is really good.... I didn't know you could even buy BTC futures!
Well said @richq11 great series of points I think you are right on here. The Global Banksters are starting to go the way of the Dutch Tulip, and I think they know it. In my opinion the cryptos go down when the commonly traded universal markets (like the US Dow) see a rise. They have every interest in shorting the daylights out of this, as much as they can. The really funny thing will be the inevitable squeeze they cause. Maybe a rube like me can get a two for one deal in that event. Great post @richq11!
Good point- they make the same analogy in the video... The Dow is being manipulated upward.
When does steemit get its series of "quantitative easings?"
What citizens need are extreme rounds in quantitative easing of the ---hole quotient.
Great post, been watching SGT for years now as he is one of the better channels in the "truth" space. I don't think there is much question that a wide range of manipulation is going on in the crypto space at the current time, and this trend doesn't look like its going to stop any time soon.
What I count on- like I said in the post- is the inherent distrust of banksters that brought most of us here. Mr. Hemke seems to take the same position. I believe that we "shall overcome."
I agree but I do think it is going to be an uphill fight, but this time the bankers may find out that there truly is strength in numbers and they don't stand a chance against a coordinated global uprising from the populations around the world which the crypto space is creating. That being said, like a cornered animal I do expect them to react quite drastically at some point, but in the end their actions may not have the effect the bankers hope for. Interesting times...
Well said and I don’t like chase banks or their banksters
????? Can you explain more in details.
I might have to upvote others that they will be on top because your feedback says “NOTHING”.
“Sounds like I don’t like chicken”
oh yeah?! Why?
the thing about bitcoin is the transaction costs...too high.
I've decided that I'll stick with Eth and LiteCoin.
much cheaper to traded.
no need giving the middleman any more than I have too.
I agree... my wallet only does BTC, but I'm sure it will get with the program before long.
I have a ledger-nano. Real Soon now I intend to learn how to use it.
Funny you should mention that... I was pricing them just today. By the way, do you use Windows?
I use Mac.
My son bought them direct from the factory in France...he said he's heard rumors of 'bad things' for those that go thru distributors.
cost was less than $100.
I'm waiting until he can help me set it up.
This is too critical for 'trial and error.'
Jim called me up yesterday freaking about windows. I've got an old Gateway i paid $25 for.
I have, (or had) several old computers like that stuck in a closet somewhere. I hung on to XP with bleeding fingernails. I didn't want to let go...
That is so true.
Its a good opportunity to wait for the right price to buy while the bankers are shorting.
Couldn't have said it better myself... I'm buying all the BTC I can while the price is down!
And I stay and keep my “hands strong”
So glad you write about those "Gangstas"
Thanks... I don't want to see people start freaking out over nothing... I agree with the guy in the video- prices will be back up by the middle of Feb. most likely. Of course there are people that believe these creeps and scare easy.
@richq11 Have you ever researched Dash? I have, and I'm convinced of its bright future.
I have... I wish I had gotten in when it was cheaper. If I was going to buy, now- with the prices down- would be a good time. I just don't know how much more "growing room" Dash has... That's not to say it doesn't- just that I don't know that much about it.
I'm convinced of Dash's potential. Most don't like it because it's boring as hell but it's solid and their roadmap is amazing. Check out Dash Force News on YouTube and their articles. Every Friday The Three Amigos have a live discussion on YouTube, often with important folks from the Dash team. Good luck. (Not financial advice! LOL)
I like Dash... it's as solid as can be. If I could have gotten when it was around $5 or $10, I'd have jumped on it. I'm not familiar enough to discern how much growth potential it still has. I don't know what the ceiling will be. Hopefully it will be like BTC- I don't see it stopping until it goes well over $100,000. I also like LTC- I have a few I got at around $50 and I don't really see it topping out until it hits $1000.
I also play around with some of the little ones Dogecoin (I bought at $0.01 so...) Also Lumens, Ripple, and NAV (which I think has some real potential)
I hope this drop will take a short time :(
The guy in the video predicts the middle of next month... To me, it's a great time to buy BTC!!!
That’s what I will do!!!
Hahahaa>>>>>of course they would
BTW : Bank Indonesia launches investigation against Bitcoin use in Bali, cautions against the cryptocurrency https://coconuts.co/bali/news/bank-indonesia-launches-investigation-bitcoin-use-bali-cautions-cryptocurrency/
We've got 'em on the run! They're so caught up in protecting the bottom line (and cryptos are something they don't understand). Their whole system is based on centralization... they don't get it... We don't need them anymore. Currency is just a medium of exchange that people agree have value.
Once it was salt, because it was scarce hence valuable. Money (fiat) is just easier to carry- convenient. BTC is the same. It has value because we agree it does and the banksters hate it because it's decentralized and they can't control it... BUT they'll try.
The crypto community is very innovative and I have great faith. Ultimately, the market decides, not banks, or govts. One bank that did Bitpay in Europe shut it off... another will take its place (if it hasn't already). Keep the faith!
Let them try!! Meanwhile I get more cheap coins
Yup!!! That's the name of the game!
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Hi @richq11 ,
You are right, They want to buy cheap and after that to control it.
Anyone question how the crypto market doubled and tripled in nov,dec? No, everyone was too excited with their profits and hype and now the cronies are dumping the market
Whao. I had no idea that was how owning FUTURES is. From what I read, here on Steemit too, owning FUTURES mean that you have agreed that so-so will be bought at a certain amount of time at a fixed price, so regardless of price fluctuations you'll be fine in the future, and also if it gets cheaper, well, you're kinda screwed. I had no idea it can also be employed to some nefarious ends. Thanks!
Thank you for sharing such informative and well written post, Really helpful for me @richq11