I realize I’m taking a risk here. My reputation may get tarnished or become entirely worthless.
But, I can deal with that fear, anxiety, uncertainty, doubt, and vulnerability for one very simple reason.
I believe I will feel much worse in the future if I don’t share this suggestion now.
The public health pandemic is tragic on so many levels. Hopefully, the pain-though severe- will be relatively acute. My heart goes out to all those affected and my gratitude goes to those on the front lines.
Right now, however, after a $2 trillion stimulus package from the US Congress, my thoughts turn to the unfolding economic pandemic.
I’m not just talking about the lost jobs and wages. That’s where the obvious pain is for millions of people. It’s heartbreaking.
The real pain, in my opinion, will be felt later and felt by all of us.
That will be the moment when we must come to terms with the unprecedented and massive amounts of dollars, euros, yen, and every other government-backed currency created in the last few weeks — with, most likely, much, much more to come.
A LOT more.
No matter where you have your money…in the bank, in stocks, bonds, or in your mattress, the value of what you will be able to buy with it is probably going to drop, potentially plummet.
Nothing is inevitable, but I believe significant inflation is likely.
I am writing this because I believe all of us need to protect ourselves and those we care about from that pandemic.
I could write 100 pages about the history of currency debasement by governments. I could cite Gresham’s Law, how global reserve currencies typically have 100 year lifespans, and efforts by China, Russia, and others to eliminate the petro-dollar. I could share stories from friends in Argentina and Venezuela about living with hyper-inflation and the Cyprus “haircut.” I could talk about M0 and M1 money supplies, negative interest rates, the Repo market, and the Cantillon effect.
But no matter how many arguments I make, it is tempting to dismiss me and be skeptical.
“It can’t happen here.”
“It’s used for criminals.”
“I don’t understand it.”
Pick your excuse. I’ve heard them all.
Strange as it may sound, I really hope I am wrong. I actually want to be wrong.
But here’s what literally keeps me up at night.
What if I am not wrong?
What if it could happen here?
And that’s why I suggest you seriously explore this option sooner rather than later.
After nearly 5 years of studying blockchain technology and global financial systems, I have arrived at the conclusion that Bitcoin (and a few other select blockchain-backed assets) are one of the best ways to obtain some degree of financial protection in a world of unlimited, 0% interest rate fiat currencies.
-There will NEVER be more than 21 million bitcoins created.
(By comparison…How many dollars will be created? The President of the Minneapolis Federal Reserve Banks said potentially “infinite.” Link below.)
-It’s portable, controlled by you, and globally accessible. No one can stop you from taking it with you.
(Ask those ppl who visited ATMs or banks recently and were denied, or limited, funds about that experience.)
-You can buy, sell, or trade at micro-incements.
Since Bitcoin is digital, you can buy .0000001 bitcoins. You don’t have to buy 1 full Bitcoin.
There are many other arguments for why you should explore it and probably buy it.
But, honestly, I’m tired of making them.
I’m tired of dealing with the naysayers. I’m not here to debate. There are plenty of great resources out there (some listed below).
Do your own research. Make up your own mind. My plea is to just be open-minded about it. Paradigms shift.
Do I benefit if everyone buys Bitcoin?
Yes. But unless you’re putting 100 million dollars in, it’s not going to make a meaningful difference in the price. I don’t know that many people.
I have a few Bitcoins and I am the co-chief investment officer of a crypto asset fund. I have skin in the game.
But I’m not here to pitch, sell, or market. That’s going to take care of itself at some point.
I’m here for my conscience and I’m here to try and help.
I don’t want anyone to say to me in the future, “hey, Jer, why didn’t you give me the heads up when you had the chance?”
After a lifetime of studying history and technology, I cannot sit idly on the sidelines and not share what I have learned. It just feels irresponsible.
So, I’m giving everyone I care about the heads up now.
You can make your own decision.
At some point, and I have no idea when, it is my belief that millions of people around the world will recognize the huge magic trick that is government-backed money.
Just google “trillion dollar platinum coin” if you don’t believe me.
When they do realize it, they will look for alternatives about how to preserve their wealth and purchasing power.
And when they do, they will find Bitcoin and (select) other crypto assets to meet that need.
If I’m wrong, I am sorry. My intentions are pure and my desire to help is sincere.
But unless you are 100% confident that I am completely wrong, it’s probably worth a look.
I realize it’s a privilege for many to even be in this position now.
I also realize that many people have life and death concerns that are staring them in the face. They don’t have the luxury of thinking about this right now.
But there are many of us who are at home, wondering about what the future might bring.
This note is for them.
Below are some links for you to research and/or buy, if you so choose.
If you are an accredited investor and want to discuss additional options, please ping me separately.
Regardless of what you decide, I am sending my wishes for your health and safety during this tumultuous period in our lives.
Some places where you can buy Bitcoin
A few resources to get started
-anything from https://aantonop.com/
–Bitcoin whitepaper https://bitcoin.org/bitcoin.pdf
-Hamilton vs. Satoshi rap battle https://www.youtube.com/watch?v=JaMJi1_1tkA
-Neel Kashkari of Minneapolis Fed on 60 Minutes https://www.bloomberg.com/opinion/articles/2020-03-23/coronavirus-fed-s-infinite-cash-tested-in-world-of-leverage
-Trillion dollar coins coronavirus%3Ffbclid%3DIwAR11ebvjmBwdFAjg9M_9FCW1HVlVsyMFlzQrpMuqeHNoCpmDMe_8xm84634&h=AT2q6T83KxfBYGx6bn5QjtCYlpW-y3zT0ae4lufUy-sVl4BMcAijavxou8kNE8-Rj_pbBnrYVvlHAd1_xGwn3htH6TUMVoEMp43IoIU61Gh7OMR7kzT1GfgiIMfCTqA7x3iBC-g&__tn__=-UK-R&c=AT13enyFPki483-8oWWFgwwaOhcJEs-YCbZ_NIZgj-96j6JvlDCy5ruZcReoo3n7bmfAK7L0V8UVTTh0HP0VYo5z939eNpimUkUbZnuzWPxNIo7W4CSpvXGU95-X3ZfGktZ3TRz856MgG78″ class=”cq eu ev ew ex ey” target=”_blank” rel=”noopener nofollow noreferrer”>https://www.commondreams.org/news/2020/03/21/two-1-trillion-coins-rashida-tlaib-proposal-calls-us-treasury-fund-coronavirus
-http://blog.neverstopmarketing.com (though much more far ranging than Bitcoin alone)