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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.”
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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.”
Says Keiser,
“The debt is now running away. It’s compounding on itself.”
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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?”
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