Pleeeaaase, Max Keiser, I love you man, but on the issue of MaxCoin you are full of bunk, buddy. Don’t get me wrong, I do believe in bombastic self-promotion but let’s get professional here. Calling the dollar “a license to commit war crimes”, on international TV no less, is one thing, but denying it the status of a currency flat out is wrong.
At least for now...
I know that, because I use it to buy actual stuff with it… for now. And you too, Max, denominate your cryptocurrency, “MaxCoin”, in dollars! I hate to get linguistically picky here, but wouldn’t then the question “how many war crimes does a MaxCoin buy?” be a logical one?
I’m kidding of course, and I too loath the bankster clans with religious passion, but let’s remember we are all on the same team. The team which is screaming at the world doom and gloom about the inevitable model collapse of the make-believe money and its King – the Fed Dollar. I’m not even calling it a US dollar anymore. The same is true when Americans tick off “own” instead of “rent” on dollar credit card applications, when in fact they are renting their home from a bank, but love to call it “mortgage”. I guess reality is really made of language.
But I digress.
To the point: If the USA’s main export is inflation, $40 billion a month average for 2013, then what are we to call the rising phenomenon of inflationary diversification in cryptocurrency? Too many cryptocurrency wannabes all of a sudden. I say let’s stick with a few big-players-to-be, like bitcoin and a dozen more. Because if we flood the financial market with crypto instruments, soon every Tom, Dick and Harry will have their “own” money and then it will lose it universal barter ability. The market forces will of course take care of this, but we do not need to fall flat on our faces to figure out that we have to learn to walk before we fly.
As a financial analyst I really think we – financial analysts – should be what doctors are to pharmaceutical companies: the checkpoint between the system and the people. Because just like the Fed’s solution to everything is to conjure up more funny-money, the pharmaceutical companies have a pill for e-v-e-r-y-t-h-i-n-g, and if it was up to them we’d all be on more drugs than the average inmate at a penitentiary for the criminally insane.
My point is: let’s not go gung-ho crazy over inflationary diversification of cryptocurrency. Let’s be professional and it will all come to be as God wishes it: all the banksters, living together, on drugs, in one giant prison for the criminally insane. Because this is where they all should live, under the supervision of kind doctors and pretty nurses, watching reruns Bill O’Reilly.