The Most Dangerous Event In Bitcoin & Digital Currencies – Mike Maloney

The Most Dangerous Event In Bitcoin & Digital Currencies – Mike Maloney

hi this is Mike Maloney and recently Venezuela announced that they’re going to be launching a blockchain based digital currency called the petrol and it’s going to be backed by their oil and gas reserves and their gold and diamond holdings and I think that that’s a load of crap because that would limit government spending if it was backed by something real that is limited in quantity that means they wouldn’t be able to create more currency and this government survives by inflating the currency supply now it’s going to be launched on something called the blockchain Observatory so this is a centrally planned currency that’s probably going to be run on centralized government service servers giving them the ability to control their population and their spending even more this is a very bad thing I believe but it is disruptive as you will see later in this video now this article is somewhat kind to the Venezuelan government blaming the economic crisis being triggered by a drop in oil prices and production now you all comment more on that later also but in the meantime their national currency the Bulevar has lost ninety five point five percent of its value in 2017 and the 2018 inflation rate is projected to exceed two thousand three hundred percent now I’ve been reporting on Venezuela since 2014 and back then I said that the next steps would be hyperinflation and revolution if you watch episode 1 of hidden secrets of money you’ll see Max Keiser talk about the economics of revolution and that when it costs a certain and when the cost of feeding your family exceeds a certain percentage of your income the risk/reward of revolution tips in favor of revolution that the risk of dying in a revolution is less than the risk of starving to death if you don’t have a evolution so it it that’s when revolutions happen when this risk/reward ratio tips in that favor and they’re starting to get there you know just like his predecessor Hugo Chavez president Maduro is nothing but a thug a bully and a criminal he’s the leader of a gang an organized crime syndicate called the Venezuelan government and both of these guys got elected by promising a free lunch to their populations now they pay themselves they live pretty well and these guys all pay themselves they they live and all of their cronies the rest of their criminal empire the rest of the military and the rest of the government by stealing what little prosperity the average citizen has through inflating the currency supply this is nothing but a wealth transfer and it has caused the average Venezuelan to lose 19 pounds during this period of time so almost you know everybody in the country all of the general population has lost close to 20 pounds so they are starving to death we are getting closer to where they will there will be a revolution but I want to point out this quote that’s at the end of the Yahoo article and in all of recorded human history there is only one one socialist nation that has succeeded the next one physical reality exists economic and social theory do not change reality that is a pretty important quote and I want to thank that person for putting that quote on there but when Hugo Chavez promised a free lunch to the population and got elected back in February of 1999 oil was at $10 a gallon I’m sorry $10 a barrel roughly and they’re blaming this economic crisis on the fall from $100 but the it’s it’s at about 60 now so the oil price is almost six times higher than when the socialist experiment began there sitting on the largest oil reserves in the world more than Saudi Arabia and yet their production is falling and it’s because of government incompetence they’re trying to run the oil companies they’re trying to run everything they nationalized a lot of the big industries in Venezuela and so the government incompetence is starting to kill their population now I’ve been giving presentations on the what I call the death of the global dollar standard since the year 2010 and the global dollar standard you know when the end of Bretton Woods happened the Bretton Woods standard caused the entire world to have to have US dollars as their reserve currency in all of their central banks and then when we went off of the Bretton Woods system which had pegged the dollar to gold there was a special deal made with Saudi Arabia and the OPEC countries called the petro dollar and basically all the open OPEC countries agreed to only price and sell oil in u.s. dollars and then Saudi Arabia made a secret deal to reinvest all of the proceeds from selling their oil in US Treasuries so I think this is actually pretty hilarious that they pump oil about their true wealth they pump oil up out of the ground ship it to the US we print up some pieces of paper some dollars and send it to them and then they loan it back to us it’s pretty darn silly but the global dollar standard was stable from 1971 to the year 2000 and then Saddam Hussein created the first nail in the coffin of the global dollar standard by announcing that he was going to price and sell oil for euros and this is basically poking a sharp stick at the global dollar standard and you know we know what happened to him and the next person that created a major nail in the coffin was Muammar Qaddafi when he announced that he was going to sell oil for only four euros and gold and you know I want to point out this Bloomberg article next and I want to encourage you to read it because what it’s talking about is that the digital currencies these government-run digital currencies could disrupt the US dominance and that this is actually it’s an attack on the global dollar standard and attack on Western dominance and it’s not just Venezuela if you read this article you know the Russian crypto ruble is going to be launched soon so Russia will have a centrally planned centrally run digital currency and also Iran North Korea China and the International Monetary Fund are also planning these centralized government run crypto currencies and this is I believe is very dangerous they’re run on centralized servers it gives them the ability to consume anit not just the currency supply but to gain more control over populations they can decide not to let you spend your currency on certain things or take your currency to other countries or so it gives them a lot of control over you basically if they don’t like you they can switch you off as a person by denying you access to the financial system and this means that the this threatens our freedom there will be a giant loss of freedom if all these countries start going on to these digital currencies and you know I just in this article there’s a quote that I’d like to read you the world order as we know it is changing right before our eyes this disruptive technology crypto currencies will indeed end up disrupting the status quo however at least in the mid term forward-thinking sovereign states that embrace and adapt it to their advantage will end up being the disruptors as opposed to the disrupted the u.s. is the sovereign state with most to lose in this process with a clear policy implication adapt to the changing reality issue the crypto dollar now or risk being marginalized you know I think this is our future and I think it’s pretty darn scary I think it’s time for people to get into alternative currencies like gold silver and the free market crypto currencies that exists right now thank you very much for listening I’m Mike Maloney if you got anything from this video please like it share it with anybody you can and subscribe to our Channel thank you very much

100 thoughts on “The Most Dangerous Event In Bitcoin & Digital Currencies – Mike Maloney

  1. Great video. I have read your book at least 5 times and watched all your video and I feel like I have a masters in monetary history. I have a question about China. Why has China been able to last so long?

  2. The Wahabi Sunni Saudi Arabia and the Zionist Israel receive US military protection. Israel gets their Greater Israel Project fulfilled and the Saud's get Wahabi Sunni dominance over the region. Challenging the Petro-Dollar; It looks like WW3 soon. Unless, this is all planned because we know the powers that be want a One World Currency/Bank/Government.

  3. when the government cryptos are running – free market crypto will be outlawed in those nations – this is the beginning of the end for free market cryptos

  4. The thing that puzzles me about governments creating their own cryptocurrencies is how they think they are going to control it. If the currency is truly peer-to-peer like Bitcoin, it won't take the programmers any time at all to develop decentralized exchanges where people can easily trade the government crypto for Bitcoin and visa-versa. I understand the concern that people have about governments trying to write restrictions into the code limiting what you can spend the government currency on. However, I'm skeptical that the governments will have much success in doing so. Right now the governments have far more control in their ability to restrict the flow of fiat currency into Bitcoin by regulating the exchanges (the on and off ramps of cryptocurrency.) If the goverments create their own cryptocurrency it will actually make it much easier to trade between national currencies and Bitcoin in unregulated decentralized exchanges that operate like apps on peoples smart phones. In my opinion, the only thing that the Venezuelan government is accomplishing with this new digital currency is creating a new platform accelerating capital flight out of the country via Bitcoin.

  5. Of course, that's if u buy into the gov backed cryptos. Just like a credit card. What's the diff. BUT not if u use BTC, LTC, ETH….which they don't own. Like duh.

  6. BUY bitcoin people before it hits a new high of $20,000. Gold is doomed as it is about to drop to $1000. Oh, and so is this doom porn channel .

  7. You are mistaken Tom Mavrakos the type of "Blockchain Currency" the Venezuelan government is about to create is CLOSED Controlled and not decentralised. Do not confuse this with the volatility of Bitcoin which is open sourced and decentralised, as it is a different issue. Adoption of Bitcoin over time will stabilise the price. Cyptocurrencies with closed centralised blockchains are being created now by banking consortium's EG like RIPPLE. Do your home work understand the difference . Getting sucked into a closed Blockchain world is the worst outcome for a free humanity and the best outcome for the elitist to enslave the majority in a distopean future.
    Show less

  8. If you want a currency that is decentralized and real, make it kWh.  Kilowatt hours.  It is real and can't be faked.  It can't be controlled.  It will be king over ALL cryptocurrency since they use power to mine and maintain their system.  We use it every day in our home and work.  We use it to make our food and goods.  It is already entwined into every aspect of our lives.  It will spark the next real revolution.  The Energy Revolution!  Storage will get better out of necessity.  Generation will get better.  Transmission will get better.  People can make a portion of what they need at home similar to how crypto miners mine free crypto.

    Public funded power plants will become U.S. property.  Transmission lines funded by public money become U.S. property.

    Any privately owned generation plants can't make up more than 5% total GDP.  All privately owned power plants, transmission lines, and equipment must buy and sell all power from the U.S. grid.  The grid is the marketplace where all transactions take place.  It can even be tracked by a public ledger system the crypto nuts clamour over.

    People can store excess kWh in battery systems or contracted future generation.  As storage results in efficiency losses, this is a natural barrier to prevent a single individual or group from stockpiling kWh to amass power and influence over everyone else.  Stockpiling contracted future generation will be safe from manipulation if you don't have the means to store or use the power.  Intentionally shorting circuits to consume large volumes of kWh to drive up scarcity will be detrimental to transmission and equipment on both sides of the demarcation line.  It has natural barriers to abuse and corruption.

  9. $ is worth 4 cent so it cannot be used anymore, so the future is Silver , Bitcoin ,if anybody dont like that , they better move to another planet

  10. Buying Bitcoin could either be the play of the century or the most dangerous thing you could do with your money. Holding any sort of crypto right now is like gambling.

  11. Venezuela is under attack by the USA most gobernments under such attacks would fail. It would be a completely different situation if the gobernment fell under its own weight. Decentralized currencies will bring freedom to the world and improve everyones economic conditions, soon we will be under attack by our own goberments since they will want to preserve their status quo, Maduro could do things right and make Bitcoin a free legal tender in Venezuela such action would bring great wealth to Venezuelan people. We live a period in history in which any goberment of the world could bring great wealth to their countries by endorcing crypto currencies, ironicaly they are not and it is up to the people and that is happening already, cryptos not only bring prosperity they also create world peace, next time the USA creates a war crypto holders will not be paying the war tax, the fiat holders will, and as there is less people paying the war bill, wars become more expensive to the fiat holders. I believe in the principle of non agresion for that reason is not logical to judge the performance of a gobernment when it is under attack.

  12. Mike,
    Venzuela should just tell creditors they can take Bolivars at 1:1.

    Mike's Hidden Secrets of Money is not to be missed.

  13. Obviously you don't understand crypto. Cryptos like bitcoin won't work unless they are decentralised, otherwise it's another face of the same system

  14. SmartCash (SMART) trading on HitBTC / Cryptopia in New Zealand is helping Venezuelan people with the economic crisis. You can vote if you own 1 coin and create new projects and get paid from the community treasury fund, earn rewards each month, a distribution of coins are send to you if you hold more than 1000 coins that's around $60 USD. SmartNodes coming soon, decentralized, on Monkeycoin only regulated exchange in Venezuela. Very low cost only 6c USD each coin, fast 50 second block time, Mine-able, Gobal adoption coming soon check it out !

  15. There is NOTHING in "backed by oil and gold reserves" that prevents them from creating more currency.
    Just like the US was able to create more dollars even while the dollar was backed by gold, by decreasing the fractional reserve.

  16. I call BS the only true corrupt bully and criminal government by a warp factor 10 is the United Snakes of Satan no other government or cabal on planet earth comes any where near that putrid pox USSA…. before you start throwing stones at others clean up your own sewer first , I'm so over you Americans blaming every thing on others ,Russia ring any bells.
    Get your facts straight ,crypto's the block chain and AI are a tool to enslave ,its comes directly from the pit of hell and the beast system will trap humanity,only fools will place their trust in money be that PM's or crtpto or any other,repent and turn to Jesus Christ for salvation and safety, you have been warned.

  17. China has gone on this long because their authoritarian system makes it easy to utilize the Keynesian bag of tricks on short notice. No one knows how long they can keep improvising their way out of the looming crisis like this. Keynes thought recessions were caused by mass psychology–uncertainty about the future because business feared consumers would not buy their products and consumers feared they would not keep their jobs, so neither wanted to spend. Keynes thought government, by acting as the buyer of last resort, or having "primed the pump" as they used to say, would restore confidence by guaranteeing a source of demand, and that would be all that was needed to get business investing and consumers buying again. However, if recessions happen because excessive debt service leaves people with less money to spend on consumption until their aggregate (collective) debt level declines to a more manageable level, then substituting public demand for private demand, or finding more subtle, "monetarist" tricks to temporarily boost lagging demand, will have only temporary effects until total debt levels, and especially household debt, falls to a level where consumers can sustain higher purchases of goods and services. I don't know what China's decision makers actually think about this, but they act as though they think that Keynes' psychological theory is correct. It could be that they don't actually believe this, but feel trapped, fearing the potential political consequences of a severe recession/depression.

    The US got out of the Great Depression during WW2. when the USG created lots of jobs, although mostly low paying , to support the war effort, while rationing consumer goods (a form of austerity) and patriotic appeals to buy the USG's "war bonds" often left people with nothing better to do with their disposable income but pay down debt or save for the future. When the war ended, their was widespread fear (judging from newspaper articles from that period) that the withdrawal of massive deficit spending by the US government would allow the economy to plunge back into depression again, but it did not.

  18. Great Video Mike – Thanks for keeping me informed. I've been day trading cryptos lately and had some luck on cardano/ADA but I noticed it says its unmineable. Does that mean its a centralized crypto? Also…. could you do a video for us cryptofreaks about how to start investing in gold? Thanks

  19. Take away from video… US can solve obesity epidemic and health care cost explosion by hyper inflating currency? 😉

  20. Cryptos "Backed by" anything tangible is totally idiotic. What, they are going to deliver oil via the Internet? Or a person is going to drive to some depot to redeem their crypto for oil? Would they reject Bitcoin for the oil? Why?

  21. Government can't control bitcoin blockchain period. They can only control the blockchain(?) they create. Stop being such an idiot. And study done computer science.

  22. The crypto currency is the instrument of our enslavement and thanks to Bitcon and its prophets who through greed have become blind millionaires now the rest of the world will embrace the dammed technology. Nice going you should be proud

  23. I disagree. Cryptocurrency is a lot like paper currency and adoption of them won't change much really. The only issue is when cryptocurrency becomes the only means of exchange. Loss of physical tools of wealth will be a loss of financial indpendance for many. Though, crpytocurrency in its nature is excellent in making shadow deals, so for savvy consumer, it won't matter as much.

  24. why haven't you talked about upcoming US legislative wars against cryptocurrencies? Time to start talking about it,…like these guys:

  25. Hi! I hear some gold and silver experts think that cryptonize the gold into the blockchain technology is the future for the gold market and will help it to gain its new horizone. Goldmint is such a projekt. What doe you think?

  26. Took you 8 years to figure out digital currency was a threat to our freedom? Wow. There are no free market cryptos in the end mike.. After all the times you have said we should own bitcoin.. you sure have a way of walking that back in baby steps don't cha!

  27. Anyone who thinks the Gov't can't see what crypto you buy/sell on the internet is living in a fantasy land. They are already asking why only 950 people claimed and profits out of the 500k that had made money. Hmmm.. How do they know that?

  28. My plan as of now:
    Of my wealth of (40k USD), Im just a student so its not that much.

    10% gold
    25% stocks
    20% real estate savings (government programme, around 3,5% interest and you are given 20% of deposits as tax cuts)
    10% Fiat currency for daily use and buffer
    10% physical value, tools etc.
    25% My car

    And I am a licensed carpenter and working on an Msc in Civil Engineering, and that is probably my most valuable asset in the future, but it's hard to put a price tag on that.

    Who knows what will happen, but at least i have my eggs in different baskets.

  29. I just make more than $ 100.00 in less than 24 hours by myself with only 1K.

    That is 10% return in less than 24hours, can I do that with gold ?

  30. Just because governments issue cryptocurrencies, that doesn't mean anyone will buy them or accept them as payment for goods or services.

  31. How will physical Gold and Silver be useful and practical if the controlling powers manage to implement a cashless world controlled with crypto currencies? Who is going to buy all the horded silver with what currency?

  32. Mike I don't know what you're doing I used to follow you as a man of character and integrity but you have shown stupidity lately did you read Edwin vieira's book Pieces Of Eight did you read America's promise Ministries book billions for the bankers debts for the people did you read Larry beat crops memorandum on law it is a complete dossier on money every law concerning money every educational material for a Layman every legal maneuver Larry becraft ought to be a patriot hero Mike may be selling Bitcoin or have his Bitcoin terminal because if he believes that Bitcoin his money he is either a fool or a liar

  33. Venezuela is a prime example of why Socialism doe not work. You cannot create wealth by dividing it. No such thing as a "free lunch". You may be eating it but somebody else is paying for it. Consuming without  producing is a bankrupt business model.

  34. Hi Mr. Maloney! I love your videos. Thank you for what you do. What are your thoughts on the "Free Crypto Masterclass" by 'James Altucher' that you can see on the ad that appears at 4:44 minutes. Here is a link to his sales page. Mr. Altucher claims that on February 2, at 4 p.m. of 2018, Amazon will most likely accept Bitcoin as a form of payment, which will cause a boom in Bitcoin as a cryptocurrency. I would love to know your thoughts on this:

  35. Check out cyber fund and Golos… golos is a great blockchain for russia… very interesting… golos cyber fund bitch went to cuba and talked with cuban government… chinese venezuelans cubans north koreans vietnamese and all communists will try to use blockchains and crypto currency but Coinbank is reforming golos and taking power away from these possible communists at cyberfund

  36. in your closing video, you said we have to go to alternative like cryptocurrency. So we should go with the flow? or stick to physical?

  37. My inference is… Bitcon was created by the predators-that-be (USSA government, federal reserve, GoldmanShafts, JPMorons, etc). Do remember, you do not know who created Bitcon. I suspect their primary goal was the same as their primary goal when they created GLD and SLV (paper gold ETF and paper silver ETF)… to misdirect funds that would have gone into purchase of real, physical gold and silver… into pure nothingness.

    The secondary consequence of both the paper precious-metals and Bitcon is to punish their main enemy… namely individuals who advocate liberty as well as investors who advocate real, physical assets like gold and silver. By misdirecting the savings of the enemies into fake assets instead of real assets like gold and silver, the predators-that-be not only suppress the prices of real assets, but they are able to royally screw these people by eventually crashing or confiscating these vaporware assets (GLD, SLV, Bitcon, etc).

  38. The banks are going to buy up all the bitcoins and sell it back to you for your entire savings. Then, they'll make it plunge in value. And when you're broke, and the banks have your entire life savings, they'll loan it back to you with intrest.

  39. You are just ace Mike, I've learned so much from you, your vids and lovely book 😀 I started buying silver after watching your first vid on silver. I got into crypto 5 months ago. You taught me most of what I know about the Fiat crap 😉 Thanks my friend.

  40. I keep thinking about what you were saying about the biggest wealth transfer in human history. It's not taking place with gold, but with Bitcoin. Not many saw that coming…

  41. The Bretton Woods Dollar was back by gold look how that turned out. Any centrally planned money will end up abused not matter what backs it.

  42. greetings from Yaracuy, Venezuela!.I believe will have a hyperdeflation. starting next year. the dollar will lose its value drastically.
    i also believe the crude oil price will go up to 200$.

  43. Mike Maloney – Nobody mentions this on any video. What happens to a mortgages debt, credit card debt, personal loans debts when the dollar collapses? Will banks write the off if banks go bankrupt?

  44. Let the system collapse. Maybey Mahoney knows about the corruption of the Rotschilds? They can and do send out triljons to secret destinys outside USA. And other countrys as well. Miljons have died and tortured to death by their secret army, the CIA wixch is run by the Rotschilds. The Rotschilds have a stake of 52% in the ed and even more in other countrys. So what is freedom? Freedom also causes chaos in the USA. There the governement is runed by man in black suits with dark glasses. So what can Trump and others do? Mothing at all. Freedom also couses the o obsession from the Clintons about there loss in the election. Now they blame Russia for that. Why basickly? Russia does not want to do what the one pole world governement from the Rotschilds in Washinton is saying. Sure, its dangerous not to do what the Rotschilds want. However, there is no alternatif. So big massacre in some or another way has to happen. There is no second way out. Enonomical money and might empires have to collpase. Lets take Indonesia in 1965. The CiA went into Indonesia after the revolt against Soekarno. One miljon died, offen by heavy torture because the CIA wanted to have a say in the economics in Indonesia. And there banking. Many more examples are there. Many follow the CIA and the USA governement. I am not waiting for a collapse anyway, but can it be avoided ? Also remeber this; In W Europa about 50% of the population have incurrable chronical illnesses. Its from eating and drinking bad food and searching around for only relatif enyoyments. Its not giving happines. How can we continue to consume all that illness bringing enyouyments ? This all is done by rented money, almost all ciilised nations are dependiong on renting money, hughe national debts are there. Can the people change themselfs? No they can not. In no any country. So , an end of the line has to come. If not many more suffering will arrive. much more than nowdays. Nevertheless; You make nice and relaxed and able analyses.

  45. If you sir and watch GDAX chart on light coin you will see manipulation like crazy. Hardly any real bulls. Wall Street making it unattractive

  46. More than 30x gains in one month! THIS is the ICO everyone has been waiting for. Every round is selling out in less than 1 second. sign up, before it ends! If you have any questions, just ask me, i'm happy to help.

  47. I am not sure how the countries having the their own cryptos is different than those same countries having their own fiat. People will still be choose which crpto or FIAT they wish to hold..

  48. No mention of the Economic Hitman, John Perkins.. Debt is control. Ref Venezuela. Their crypto will make no difference. their debt is in us$ and CBankers (US) stick is bigger….

  49. The only solution mike is that the US government let the Silver and Gold to soar since they have the hold of the price and it is price in USD. They let it soar like an ounce of silver is equal to the price of 1 bitcoin. That way then can kill crypto's. lols

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