Posted Mar 15, 2015 by Martin Armstrong
Now others say that number is wrong and bitcoin can go to 2,100.000,000,000,000. If that is true, then my first statement is correct. If everyone swapped all money for bitcoins then what is the difference? This is not a question of supply. Money is just a medium of exchange not a sort of constant value and that seems to be the whole problem. Then the argument seems to turn back in on who is in charge. Isn’t that what I have been saying? It is not WHAT money might be, but government that has been the problem.
Some people want to create an alternative to the dollar that magically holds its value. That part is simply impossible for people will swing back and forth between wanting money in an economic decline and then wanting to spend it to buy assets. This is a perpetual cycle that runs through all systems and governments. I do not know how to stop that. Marx gave it a good shot and killed millions in the process. It seems we should just understand there is a cycle like the seasons and go with it.