India, China, Russia, Iraq, Qatar, Egypt, Morocco & others ban Crypto. Bitcoin Bloodbath Begins!
This feature article took 3 minutes to write. You can skip the entire article and just memorize these 3 facts
Bitcoin is now illegal in India, China, Russia, Iraq, Qatar, Egypt, Turkey, Morocco and many other countries.
Silver purchases have increased 60 times year over year in India.
Poland has locked in a purchase of 100 tonnes of Gold for 2022. This is greater than all the Gold minted in US over past 5 years
Bitcoin is officially now worth zero dollars. Why?
The backstory goes way back but here is the quick version. QE has pumped too much liquidity into the stock market. 40% of dollars in existence were printed in the last 12 months.
Economists and forecasters are bullish on emerging markets because the US equity market is experiencing drastic declines not seen since 2008. US monetary policy of buying assets (Treasury bonds and mortgage-backed securities totaling $120 Billion per month) has inflated the stock market to phony valuations that are inflicting pain on Russell 2000, S&P 500, Dow Jones, & Nasdaq.
Today FANG & Nasdaq darling FB dropped almost 30%. Technical analysts like Gareth Soloway called this months ago stating that a massive deleveraging event in the Nasdaq would send BTC to $10,000.00 but now people think $10,000.00 is $9,999.00 to high. Soloway, by the way is the Chief Market analyst for the crypto trading service - VerifiedInvestingCrypto.com
Investors are stampeding out of US equities into emerging markets, precious metals, houses, farmland, and commodities. Here is the problem for Bitcoin. The emerging markets are banning all forms of crypto. This is more than a problem, most analysts have declared bitcoin is finished forever. Bitcoin has fallen almost 50% since November of 2021. So we've had Thanksgiving, Christmas and before Valentines day Bitcoin is down 50%. Moreover Bitcoin has never endured any recession so it has never been tested.
Let's meet Bitcoin's four main cheerleaders and let's see how they compare to the markets that have declared THEY WANT NOTHING TO DO WITH THIS INSANE VIDEO GAME.
So you have the economic, industrial, manufacturing, consumer and military power of China, Russia, India, middle east on one side compared to 4 people on the other side.
Here is the pre-game show analysis. Let's see how 6.8 Billion people in the countries that have banned crypto will do against four pathetic con men from the USA.
Let's meet the 4 brave people that want to go up against China, Russia, India and the middle east. They don't have the resources but their fucking mouths are much bigger than the 6.8 Billion.
They are con artists like Alex Mashinsky, CEO Celsius; Michael Saylor, CEO of MicroStrategy (MSTR,) Anthony Scaramucci, SkyBridge Capital and Max Keiser
Keiser, who has made calls for $220,000 BTC while embarrassing himself on Stansberry and Kitco repeatedly. His fall from grace makes Pee Wee Herman's theater moment the difference between an anvil and an ant in terms of weight and gravity.
Meanwhile, the rest of the world has also voted and Bitcoin is down about half of its' value in last 2 months. As of yesterday the list of nations banning crypto include:
India, Egypt, Iraq, Qatar, Oman, Turkey, Morocco, Algeria, Tunisia, Bangladesh, China and Russia have all banned cryptocurrency. These jurisdictions have all echoed the same concern, that cryptocurrencies are being used to funnel money to illegal sources and argued that the rise of crypto could destabilize their financial systems. Source - https://fortune.com/2022/01/04/crypto-banned-china-other-countries/ Jan 4, 2022
FEBRUARY 2, 2022 - Cryptocurrency will never be a legal tender, Finance Secretary T V Somanathan said on Thursday clearing the air on the legality of private digital currencies in the market.
"Bitcoin, Ethereum or NFT will never become legal tender. This means that these won't be accepted as an official mode of payment in India. Bitcoin, Ethereum, and other cryptocurrencies along with non-fungible tokens (NFTs) will never become legal tender in India."
The Death Blow to Crypto in India, Russia, China, Egypt, Iraq, Morocco & spreading like wildfire! More sources here
"Crypto will never be considered legal tender nor be allowed as any form of payment"
India's Silver purchases Up 60 times Year over Year
Meanwhile in Poland. Poland purchased 100 tonnes of Gold. Yes! Poland has purchased 3,215,074 troy ounces of gold. I have to write that number out in long format for it to sink in. Three million two hundred fifteen thousand and seventy four troy ounces of gold purchased by Poland for 2022.
If you take the past 5 years of US Gold production combined, they add up to less than this three million two hundred fifteen thousand and seventy four troy ounces of gold.
If Poland's Central Bank is Buying 100 Tons of Gold, Maybe You Should Also! Source - Polish Central Bank Chief Adam Glapinsky locks in purchase 100 tonnes of Gold. Link - https://www.thefirstnews.com/article/poland-wants-to-buy-more-gold-25171 To see a vivid graphic of the magnitude of this purchase go to the 1:34 minute mark of this video: