Max Keiser: Central Bankers Will Turn to Bitcoin Amid ‘Multitrillion-Dollar Black Hole’ Engulfing World’s Financial Markets
In a new episode of the Keiser Report, Bitcoin bull Max Keiser and co-host Stacy Herbert take on central banking, the destruction of the space-time continuum, neo-feudalism, fraudsters, bank robbers, sociopaths, ‘financial spaghetti’ and other economic abstractions that threaten to derail the basic principles of money and time, and push 98% of the world’s population to the brink of existence.
Keiser and Herbert focus on a recent Bloomberg article that says the growing debt crisis in the bond market is leading toward a “multitrillion-dollar black hole growing at the heart of the world’s financial markets.”
According to the article,
“Negative-yielding debt – bonds worth less, not more, if held to maturity – is spreading to more corners of the bond universe, destroying potential returns for investors and turning the system as we know it on its head.
Now that it looks like sub-zero bonds are here to stay, there’s even more hand-wringing about the effects for mom-and-pop savers, pensioners, investors, buyout firms and governments.”
Bloomberg opinion columnist Marcus Ashworth says negative rates go against the fundamental structure of the global financial system.
“One important law of financial logic – if you lend money for longer, you should see a higher return – has been broken. The time value of money has essentially disappeared.”
“The debt is now running away. It’s compounding on itself.”
Keiser believes central bankers will eventually turn to Bitcoin to fulfill their need for hard money.
“Central Banks will struggle to find enough Gold to satisfy demand (even at $2,500 an Oz), so they will turn to Bitcoin to fulfill their need for Hard Money. Will this be the catalyst that drives BTC to [Anthony Pompliano’s] $100k, 2021 target?”