Bitcoin and other cryptocurrencies are now challenging the hegemony of the U.S. dollar and other fiat currencies.

In May 2020, a historic event cut the daily incoming supply of Bitcoin from 1800 Bitcoin per day to 900 Bitcoin per day—a sort of quantitative hardening—opposite of what the Fed is doing by printing trillions of dollars. Central banks, in simplest terms, create money out of nothing. They create “fake money” and loan it to governments.

Bitcoin, on the other hand, is completely decentralized meaning that nobody can manipulate the market and there is not any single point of failure. It will be interesting to see how long the Central Banks will tolerate the competition from cyber money before there is a showdown. 

Host Robert Kiyosaki and guest Anthony Pompliano examine the value of Bitcoin in the current economy and how it may create a quasi gold standard. 

The Pomp Podcast: https://anthonypompliano.com/
An Open Letter to Ray Dalio: https://youtu.be/i0N9qj4gjmg

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The content presented here is based on the speaker’s personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.