The Phaserl


The Magnificent Rise & Fall Of Bitcoin And What To Expect In 2015

from KingWorldNews:

On December 8, 2013, with the price of Bitcoin near its all-time high, Bill Fleckenstein issued this ominous warning to King World News: “It (Bitcoin) is a giant chain-letter. Everyone will lose all of their money that puts money in it. It’s a complete joke. Even a crappy currency has government taxing ability behind it, or some sort of a standing army or something like that. Bitcoin is nothing. It’s dot-com mania 3.0 just moved one step over, right? People are so enamored with communication with their phone and online commerce and all of that. Now they’ve invented what they call a currency to mess around with it, and people are speculating in it the same way they speculated in this other crap. It’s not a currency at all, it’s a complete joke.”

The chart below shows how timely Bill Fleckenstein’s warning was regarding the Bitcoin craze:

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2 comments to The Magnificent Rise & Fall Of Bitcoin And What To Expect In 2015

  • Dick

    Can someone please make the case that it’s not appropriate to compare the fall in price of Bitcoin from its high to the fall of silver from its?

    And what do I say to people when they laugh at me now for having told them to preserve their wealth by buying silver when it was $30+? I feel like such a fool.

  • Scott Wolf


    Tell them that,since 2011,the gold and silver prices have been manipulated to prevent the accounting of so much worthless Central Bank fiat creation adding nothing to the real economy. It’s all about maintaining confidence in the dollar,nothing more. You weren’t duped-GOOD FOR YOU.

    Ask them: “If gold is such a worthless, barbarous relic offering no yield or dividend, why doesn’t the Fed just give Germany its 300 tonnes back right away? Why the secrecy? Why will it take until 2020? Ask them: “Why did the COMEX just implement a $400 trade limit cap on the price of gold if it has no value or market viability? And Like this website, AU/AG are the only antidote to the fiat poison circulating through what’s left of our Capitalist system. The West put the fate of its own Capitalist system into the hands of a Communist nation! Ruminate about that for a minute. This one fact alone makes gold and silver a must have as part of your portfolio.

    These current prices are an absolute gift and you should be buying metals when you can. Forget the fiat price! It’s about ounces.Let those around you lose their wealth insidiously to the system, it can’t be helped. Believe me, those folks will eventually realize that you were right all along. Eff ’em.


    A healthy degree of skepticism about any nascent digital crypto currency is certainly not unwarranted; however, I’m of the belief that any alternative to the current war driven petrodollar fiat system can be a boon for the common man, a potentially profitable investment which repudiates the Wall St. shills selling debt and the glib-tongued politicians selling death. Risk is inherent in any investment and due diligence is always required. But risk alone should not be an obstacle in choosing to see the global economy in a different light.Choice should be viewed as a blessing rather than a curse.

    I love bitcoin and use it to buy gold and silver via my Circle bitcoin account. Of course the price of bitcoin was speculated up,but anybody who can’t see the future explosive growth of digital money is a fool. Any alternative(like bitcoin) that is a threat to the USD will be attacked. Once you understand that and act(like buying PMs)you are protecting yourself in a way those around you will never understand. They will soon see the err of their ways and all of their digital zeroes erased, it’s inevitable.

    They’re the fools, NOT YOU.

    We are a third-world country already, Americans just don’t realize it. It will become obvious in the coming years that we have the 1/10 of 1% and EVERYBODY ELSE fighting for scraps.
    And with the sheeple continuing to buy US Bonds with no real value when compared to inflation combined with their reluctance to buy gold and silver TO PROTECT THEIR WEALTH, what can one expect? Who in their right mind could think that a 30 yr bond will have any value at all?
    0% interest rates and QE to infinity for 6+ yrs now and still no growth? I mean, how ridiculously ignorant and economically illiterate can Americans be?

    Throughout recorded history, economic supremacy has always resided in the nation holding the gold. And no U.S. economist, U.S. academic, or U.S. mainstream media puppet can ever change this fact.Now more than ever, you should be buying metals,especially silver.

    Let’s review:

    Crude price collapsing,taking some $500 Billion in junk bond derivatives with it.
    Ukraine crisis-(US coup)
    Ruble collapsing
    Euro falling against the dollar
    Japanese Yen collapsing
    Chinese real estate bubble popping
    US antagonizing North Korea
    0% interest rate since 12/2008 and still no growth
    Velocity of money at an all-time low
    US Labor participation rate back to 1978
    400% increase in Fed balance sheet
    BRICS collapsing
    Recent legislation killing what was left of Dodd-Frank and putting the American taxpayer on the hook for OTC derivatives yet again!


    I expect more of the same in 2015, as nothing has or will change. We’ll continue to see the clash between irrational monetary policy and the free market’s economic reality, a bear market in paper precious metals, a bull market in physical precious metals, and quixotic, dislocated housing, stock, and bond markets that can break apart at any time. Caveat Emptor, fiat junkies.

    We(the WORLD) are left with 2 choices now:
    1) A new currency system not based on the USD or a single nation’s currency. Once the US privilege of forcing the world to trade in dollars is abrogated, it’s game over for the United States. Think this can’t happen? THINK AGAIN.
    2) WWIII
    Either one will be catastrophic for Americans,and that day of reckoning is approaching faster than they could possibly comprehend.


    Keep stacking and keep fighting the good fight.


    “After more than 60 years of watching markets, Eric, I can tell you that gold is no Titanic — as the mainstream media would have people believe. Gold is the ocean, and at the proper time every paper instrument and scheme devised by corrupt governments and banks will sink below it. –Ron Rosen

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