The following video ( and series of videos should you wish to view all of them ) provides some of the most straight forward and easy to understand explanation of The Federal Reserve, the history of fiat money and Central Banking ,as well ideas of what the future may hold – with respect to the outcome of this current financial “experiment”.
These are some extremely well-respected gentleman talking ( many have beards ) including one of our favorites Dr. Paul Roberts, and the material is extremely easy to understand.
I recommend that “anyone” who still may have questions about some of the basics, or still may be struggling to wrap their heads around some of this – Watch these videos.
I wanted to include them in the material available here at Forex Kong as the information is provided in such a straight forward manner.Perhaps plan to bookmark and come back throughout the week as each video is about an hour-long.
[youtube=http://youtu.be/nB8GmcRV_yg]
Breath of fresh air, this blog you got here. Good video on the basics.
I am really confused about something, though.. why no mention of bitcoin? Not a single post? Dr. Paul Roberts started accepting bitcoin a month ago, but I see nothing on your blog. Not even an option to donate?
You do realize that bitcoin is the solution to all this dirt you’re bringing up, right? I read somewhere that you were early to the internet… you still have a chance to be on the leading edge of bitcoin and help your readers get there, too, if you wanted. In the bitcoin world, it’s in or out, do or die. Rebel or tory. You can talk the talk, and help your readers exchange fiat dirt, but if you knew what was up, half your posts would be about bitcoin.
It’s not rocket science, but I can understand if it’s a bit too much of a concept to swallow at first.
BITCOIN = Modern Gold
Yes I’m very familiar with Bitcoin, and have been following for some time now. Fantastic.
I appreciate your passion for it, and admittedly have been slow rolling it here at the blog as the current “stage of acceptance / development” of Bitcoin still has a ways to go before I envision “perfect entry”.
I envision there will be plenty of time to buy Bitcoin, and at much, much lower prices so…….I plan to “introduce” it here at the blog shortly.
Glad to hear that, mate. You did strike me as someone who’d connect with the concept of bitcoin, a totally decentralized, unfiddled with, currency. Looking forward to hearing your thoughts on it, mainly. You have brilliant conceptual thinking and I truly believe that this “movement” needs more people like you.
Waiting eagerly in anticipation for your move into the space, and looking forward to having a new place to discuss the concept on your forum.
I imagine that in the next few years, your dramatic trading gains will be nominal only – all real gains will go to those that switch over to bitcoin. Hey – but that type of detailed discussion can wait, right?
I’m intrigued by the mining aspect as well, but have come to understand that the machines required ( to actually do some mining ) may not be available to me down here in Mexico. I’m looking into it.
Otherwise, yes the addition of a “donate” button / wallet mention can’t hurt here at the site, as it will provide for the “launch of discussion”. I can let users read / learn here “first hand” how things are set up and how they work – a little “bit” at a time.
Hi Kong, are you waiting for Bitcoin price crash? I like idea of Bitcoin but don’t want to get in now, it feels like I’m late to the game.
On the other hand, it felt the same way few months ago when Bitcoin was hitting all time high above $30, and I did not want to buy at all time high…
Would be nice to get a correction like in 2011 (from $30 to $2)…that would mean from above $1200 to under $100.
Yes I’m looking at correction…..then climb…then correction…then climb etc….as – I’ve already been through this once (being principally involved with the creation of the first online casinos and poker rooms).
Of all “new things” we human beings are able to accept/understand and embrace…..changes involving “finance” come the hardest.
Look at Ipad reception in the past few years vs “online credit card payments” over the past ten.
People are wary, and extremely skeptical – all the while trusting their local banker/broker.
Go figure eh?
I own bitcoin and hope it succeeds probably for same reasons that most people who own it do. But anyone who “invests” in it needs to have their eyes wide open which is you need to be prepared to lose 100%. Anyone who thinks that it’s somehow out of total government control is dreaming. The bitcoin community needs the people in control to see the advantages of it and embrace it not make us enemies of the state. Right now its like the wild west with thieves trying to rob the bank. Bitcoin has to keep evolving in order for it to succeed which unfortunately will involve governments and regulation.
I’ve seen this video some time ago, I also like videos made by Mike Maloney – Hidden Secrets of Money episodes, they’re great.
Makes me wonder how much longer this fiat currency system can survive. Actually it makes me wonder why it did not implode yet, but hey…it’s been here already for decades so why not another 20-30 years to go? Because countries debts are getting to unsustainable levels? So what? Everybody knows it’s not to be paid back…
Yes Franky…as long as everyone sticks with the program…ie….print print print – no telling how long it can last.
Perhaps for readers questioning my belief in “QE forever” something to consider….
When the entire planet is printing like mad just to keep the thing afloat…….the U.S plans to tighten?
Ridiculous.
I think you’re probably right about the mining equipment. To my knowledge, mining has become pretty competitive, such that the right machinery, tweaked in the right ways, with the right electricity costs are what it takes. That being said, a peculariar thing is happening with mining right now. People (or large companies) are mining IN FRONT of the price. Meaning that they are effectively extracting bitcoin at prices that well exceed the current prices. To me, this sounds like large institutional players who are attempting to accumulate but do not want to run up the prices on themselves prematurely. I’ve never mined a coin in my life, but I know people in the early days that used to pull out a coin per day on a simple gaming computer. Not the case anymore, though.
I love the bitcoin tip idea for your blog. There are some easy to install wordpress plugins that allow you to collect and track tips on each post you make. (Make a guy some $$$ on a trade, wouldn’t it be nice to get a little appreciation?!) Once you’ve done this, perhaps your loyal audience would be kind enough to give you a shoutout on Reddit. (/r/bitcoin) There are lots of bitcoiners out there who will only be loyal to other bitcoiners. A fiat boycott of sorts.
Bitcoin is small right now. Maybe how the internet was in 1994 or so? It won’t stop, though. Cryptocurrencies are here for good and the only mystery is how they’ll integrate with governments. (My guess is that not all governments will survive, but that might be down the line a bit. Do I sound crazy?)
You’re on track as far as I’m concerned…only that – the timelines are fun for speculation, but in reality ( as suggested below / above ) the kogs in the wheel are so large and far between – pinning anything down past the next couple months ( and even at that these days ) is a challenge.
Sure…..as with gold, someone can get into Bitcoin now, and feel like they’ve made a reasonable investment at a reasonable time….but it’s the “world around bitcoin” and the “world around gold” that’s changing / moving / evolving so rapidly as to essentially dictate direction.
I can tell you every single thing I know about the currency markets, and I can tell you what I think you “should do”, but I can’t tell you if they’ll drop a fuel rod or two in Fukushima…or if Iran will nuke Isreal, or if the aliens Obama employs in his security detail have alterior motives (he he he….)
It’s the “unforseen” that keeps me on my toes, and some of the best advice I could give anyone with that respect is….
Stay as liquid as you can. For now – til things settle down / work themselves out.
Re Bitcoin: I haven’t heard anybody on this blog mention anything regarding the regulation of Bitcoin. It sounds to me like it’s a brilliant way to circumvent the cross border currency rules that exist to keep crime under control. So, regulation will come one day. Wouldn’t you want to be involved after the scare of regulation comes and you have a known quantity that will likely appreciate against other currencies? Seems mad to front run that pandoras box. No?
Much like a Bit Torrent, or any other “pier to pier” type technology – the genie is already out of the bottle.
“Regulation” – is essentially ( or at least near ) impossible as by virtue of the number of computers involved and a biz model that only encourages “more computers” join the network. My thoughts would be that ” the powers that be” may look to focus on merchants / exchanges ( as with credit card processing back in the early casino days) with attempt to “slow things down”.
Even at that…..conceptually speaking – this thing is far enough out of the can that……regulation ( in my view ) is gonna be tough.
I agree with you in that we are still in the early stages, and I don’t imagine missing anything in the near term as YES – we will see further opposition / friction from the paper money boys.
Ya as long as the transaction is Bitcoin to Bitcoin it’s pretty much impossible to track and regulate. Serious criminal organizations must love the sound of that. Crazy
Disclaimer: i know shit about Bitcoin. I don’t own it, i don’t know how it works, when it started. Just that you have to “mine” it, each coin is harder to mine than the previous one, it has a limited supply (total reserve), seems crypto-related, good for criminals. That being said, would you invest in a currency, any currency, if more than a quarter of this currency was owned by roughly 50 people, another quarter to get to 1000 people (meaning a thousand ULTRA rich own half of the entire world reserve of said currency), and then milions sharing the rest? Would you really want to be another soul trying to get a piece of it?
See “Bitcoin Net Worth Breakdown” http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12
Great points Bros as yes Bitcoin certainly has a “bit” of an uphill battle to fight – in being widely accepted / understood.
The “mining aspect” isn’t really a concern for retail type investor / traders but conceptually – it’s really quite an amazing system/concept.
You’ve got it right there too in that…..the “mining” will only get harder with less and less reward as more n more people get involved. Although paradoxically – this “involvement of more computers / people” is essentially the heart of it from a security standpoint, making it near impossible to crack / track / take down etc….
I’ve run a pile of technologies through the ringer over the past 15 years and am confident that “the idea of Bitcoin” and a digital currency based on this model has incredible potencial and great promise but…..
Considering that most people don’t really even understand how their own local bank works ( let alone the Fed / Central Bank ) it makes sense to me that this “phase” will need to morph / evolve into something a bit easier for the common man to understand / adopt and gain value from.