PODCAST: Bitcoin vs the Petrodollar

Segment 1: Bitcoin Price Spike Creates a Stir

Segment begins at 00:43

Will we see a breakdown of the petrodollar system with the growing price and popularity of bitcoin? Listen as Jerry Robinson lays out the case for the brewing (and likely brutal) battle between cryptocurrencies and the monetary “powers that be.”

• What makes bitcoin and the US dollar so different?
• The purchasing power of bitcoin has grown while the purchasing power of the US dollar continues to be eroded
• Bitcoin presents a particularly unique challenge due to its controlled supply that cannot be manipulated
• Though quite small now, imagine if bitcoin reaches $1 trillion in market cap
• The winds of war… global rumblings from monetary policymakers
• The next bitcoin halving event in 2020
• Hey, there’s an app for that! The Flexa Network has designed a crypto app for customers in over 30,000 stores
• (Amazon-owned) Whole Foods is now accepting bitcoin

Recommended LinksJoin Our CommunityPODCAST: The Bitcoin Revolution Turns 10 Years OldCongress Rep. Brad Sherman Calls for the Ban of All Cryptocurrency (YouTube)
ECB President Mario Draghi: Cryptos Are Not Currencies, They Are Very Risky Assets (Yahoo! Finance)Bitcoin Block Reward Halving Countdown (Bitcoin Blockhalf)The Next Bitcoin Halving (Grayscale)
The Flexa Network Is Open For Business (Medium)
The New Network For Cryptocurrency Payments (Flexa)Bitcoin Comes to Whole Foods, Major Retailers in Coup for Digital Currency (Fortune)Jerry Robinson on TwitterFollow the Money Podcast ArchivesFollow The Money on YouTube

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Segment 2: The Final Word

Segment begins at 34:39

In light of President Trump’s record-setting spending in the first 7 months of the fiscal year, Jerry closes out today’s show with a simple question: “Where’s the tea party?” Answer: (crickets)

Recommended LinksU.S. Budget Deficit Grew 38% in First Seven Months of Fiscal 2019 (WSJ)

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