“My very
humble assessment is that it is worth nothing, it is based on nothing,
there is no underlying asset to act as an anchor of safety,” Christine Lagarde 2022-05
Editors Comments:
As my readers are well aware I've been extremely bearish on Bitcoin for almost six months.
Every time in the
past six months I posted it was time to sell Bitcoin dozens of crypto
bulls would come out and say that I was wrong, and it was time to buy.
Time
Always Tells:
I said in each post
that I believed it was heading lower “but only time will tell”.
Time has told us
that the bulls have been wrong for six months after almost a 60% drop since
November.
Even the bulls must
be questioning their reasoning!
Surprisingly central
banks and regulatory agencies throughout the world have spent very little time
trying to regulate crypto as they normally would any other high-profile high-risk
investment.
But the time has now come now that so many people lost large amounts of
their life savings recently.
I believe it
is not a matter of if but when major Govt. agencies such as the United States
securities exchange commission will begin to regulate crypto's.
When
Govt. Regulates A majority will sell:
One of the largest reasons that Cryptos are popular is because criminals and
those washing the money or hiding the money could easily hide it in crypto and
transfer it around the world.
What do you think they are going to do when they see federal regulators
inspecting every transaction?
You don't have to be a rocket scientist to figure that they will leave and find
some other way of hiding their money.
Writing
is on the wall:
So, the question is
where does Bitcoin go from here?
With federal
regulators and some of the most important people in the world such as Christine
Lagard saying that it this time to regulate I think the writing is on the wall.
Technically if you look at the chart Bitcoin has actually fallen through the
major one year support level at $29,073 already and then rallied a little bit.ut
not enough to even make a blip on the chart.
You must also
remember one thing.
I've been in
business for 50 years. I've seen literally hundreds of scams come and go and
they always thrive on the ignorance of the poor who want to get rich overnight
and are willing to throw their life savings into one investment.
Recently for example within a few kilometres of where I live a company a new
Crypto Company was flaunting a new crypto currency.
They drove around
in their gold painted vehicles started a golden restaurant and invited uneducated
investors to invest their life savings.
I said to my son’s s few months ago it would
fail miserably, and it has with many of the Company officials under
investigation.
So, my advice to anyone
who owns Crypto especially Bitcoin right now you can take on a chance on a
small rally from here, but so many people have been burnt recently I don't
think there's that many buyers left.
Don’t
Be Greedy:
If you have a huge
profit don't be greedy. Take it!
Remember the famous
Wall Street saying “Bulls make money, bears make money and pigs get slaughtered”.
Buy a
Sure Thing:
Take that profit and put it into something real like Silver and Bali real
estate which I predicted was going to start to rally significantly when
tourists began to come back.
I've been saying
for 23 years “Bali real estate demand is directly proportional to Bali tourist demand”.
“Bali real estate demand is directly proportional to Bali tourist demand” Lawrence. B. M. B. 2002
The more tourists
that arrive here the more people that are interested in buying Bali Real Estate.
Let me remind you the first beachfront property I sold in Bali 17 years ago has
increased 4,000%.
So maybe I should start a crypto for Bali real estate LOL. Just kidding.
I am on the front line of the Bali real estate war, and I will tell you that just
the last two days we had several buyers come in the Bali
Buy at 20% to 50 % Discounts:
Properties arestill at 20% to 50% discounts from their pre-pandemic prices.
That means you
could enjoy a 20% to 50% rise in just a few years.
Unlike crypto sellers
we are not guaranteeing that.
It is just my
sincere belief after being in Real Estate for 50 years of which 23 years were right
here in Bali.
Start your search here Distress Properties.
or Callor whatsapp me at +62-8123814014
If you look at the majority of the multi-tycoons in the world they didn't make
their money in Crypto's they made it in real estate.
Real Estate is a
safe sure investment that always has a rising demand and diminishing supply.
The perfect
scenario for a great investment long term.
Here's the article today printed in Barron's magazine the respectable Barron's magazine regarding pushing the guards under distaste for crypto's the fact that she believes it should be regulated
With Cryptos ‘Worth Nothing,’ ECB’s Lagarde Renews Calls for Regulation
By Lisa Beilfuss May 21, 2022 11:59 am ET
Christine Lagarde, president of the European Central Bank (Photo by DANIEL ROLAND/POOL/AFP via Getty Images)
European Central Bank President Christine Lagarde reiterated her concerns over cryptocurrencies and desire for regulation.
“My very humble assessment is that it is worth nothing, it is based on nothing, there is no underlying asset to act as an anchor of safety,” Christine Lagarde 2022-05
Lagarde said in an interview on Dutch television, according to media reports. The ECB president said she is particularly worried about people who don’t understand the risks associated with the volatile digital currencies and “will lose it all.” That, she said, “is why I believe that that should be regulated.”
Lagarde’s comments are no surprise. She has long expressed her discomfort with cryptocurrencies, which have exploded in popularity alongside a long stretch of ultra-low global interest rates that have sent investors hunting for yield. The ECB took interest rates below zero in 2014; the central bank’s main policy rate now sits at negative 0.5%. Outside of the eurozone, countries including Switzerland and Japan also have negative interest rates.
In the U.S., the Federal Reserve lifted rates from zero in March and is expected to hike another half-percentage point, to a range of 1.25% to 1.5%, next month.
The latest crypto-criticism out of the ECB mirrors concerns voiced by U.S. leaders and comes amid a painful stretch for cryptocurrency investors. Earlier this month, Treasury Secretary and former Fed Chairwoman Janet Yellen called for new federal regulation over cryptocurrencies. “
We really need a regulatory framework to guard against the risks,” said Yellen, referring to the type of cryptocurrencies that are called stablecoins, which are pegged to a currency such as the dollar. Her comments came during a House committee hearing after the Terra LUNAUSD +15.38% stablecoin, one of the biggest such coins, fell below $1 and triggered chaos in crypto markets.
From its November high, Bitcoin BTCUSD –0.26% has fallen about 55%. During the second quarter alone, it has declined more than 20%. Ether ETHEUR –0.17% , meanwhile, has dropped about 60% from its all-time high. Its co-founder, Vitalik Buterin, tweeted Friday that he is no longer a billionaire.
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