The
cryptomarket price explosion represents prima
facie evidence of what the gold crowd has known
for decades - gold price suppression fomented
by the fiat money is doomed.
Case
in point, the upward eruption in BTC / ETH / LTC
may represent the petrie dish model for the precious
metals market.
One
of the more compelling arguments in favor of silver
- the current price is merely a few dollars above
the mining expense per ounce.
When
combined with the facts that its industrial applications
are inelastic and abysmal sentiment from a contrarian
perspective the metal could present a value opportunity.
According
to the World Gold Council, although silver is
about 10 times more abundant in the earth's crust,
the stockpile of available investment grade silver
is actually half that of gold.
Silver
represents a short-squeeze candidate of epic proportions
as the supply of physical bullion is incapable
of satisfying potential short-covering demand.
Charles
Hughes Smith from the Of
Two Minds blog returns with commentary on
the cryptocurrency bonanza.
Real-world,
peer-to-peer Bitcoin applications yield exceptional
utility for all global inhabitants.
The
studio workstation recording the discussion offset
the associated electricity costs via mining Zcash
850 Sols / second.
The
mining operation is optimized for automatic coin
switching among dedicated servers to maximize
the CUDA cores of both GPUs.
While detractors find little value in BTC, clearly
the digital currency satisfies 4 of the most desirable
characteristics of gold, the King-of-currencies:
Store of value - similar to the finite number
of gold ounces above ground, BTC derives intrinsic
value from trust stemming from mathematics.
Divisibility
- BTC set the new standard in divisibility, arguably
the most divisible currency in monetary history.
Transferable
- BTC eclipses all earlier currencies / coins
through the instantaneous transferability to any
place on the earth.
Security
- just as gold retains value in the close proximity
of the holder, BTC is storable in the human mind
via private keys.
Peer-to-peer
networks bypass the archaic / draconian SWIFT
system, returning value to the participants.
The guest / host pose the questions to the listeners:
Does the crypto revolution represent a real-time,
de facto failure of global fiat currencies.
Where is the value creation in fiat money that
can be generated in infinite amounts, relative
to bounded Bitcoin / Altcoin?
An
alternative to expensive crypto currency fees
and delayed times examined includes InterZone
(ITZ), which costs a fraction of a dollar, has
nearly instantaneous truncations with virtually
non existent fees.
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Guest
Bios
Charles
Hughes Smith
Of
Two Minds
Charles
Hugh Smith
pens the
Of Two Minds
blog that
involves
a wide range
of interesting
issues including
investing
and finance.
Of Two Minds
has a wide
audience
of over
200,000
individual
hits per
month. He
is also
a contributor
to the Daily
Finance
and has
written
eight books.
John
Embry joined
SAM as Chief
Investment Strategist
in March 2003,
with a focus
on the Sprott
Gold and Precious
Minerals Fund.
He plays an
instrumental
role in the
corporate and
investment policy
of the firm.
Mr. Embry, an
industry expert
in precious
metals, has
researched the
gold sector
for over thirty
years and has
accumulated
industry experience
as a portfolio
management specialist
since 1963.
After
graduating from
the University
of Manitoba
with a Bachelor
of Commerce
degree, John
Embry began
his investment
career as a
stock selection
analyst and
Portfolio Manager
at Great West
Life. He then
became Vice
President of
Pension Investments
for the entire
firm. After
23 years with
the company,
John became
partner with
United Bond
and Share, the
investment counseling
firm acquired
by Royal Bank
in 1987. John
was named Vice-President,
Equities and
Portfolio Manager
at RBC Global
Investment Management,
a $33 billion
organization
where he oversaw
$5 billion in
assets, including
the flagship
$2.9 billion
Royal Canadian
Equity Fund
and the $250
million Royal
Precious Metals
Fund, the #1
ranked fund
across the country
for its 2002
net performance
of 153%.
For
more information
about Sprott's
award-winning
investment professionals
and their market
insights, please
visit us at
www.sprott.com
or contact us
at invest@sprott.com.
Top Wall Street Chartered
Technical Analyst (CTA), Ralph Acampora of
Altaira
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Bill
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Chris Waltzek Ph.D. -
Andy Schectman & Chris
Waltzek Ph.D. - November 22nd, 2017.
