Re -Evaluating Bitcoin – ICYMI December 26, 2016

The War On Cash Expands.

India, Venezuela, Europe, Pakistan, Australia among sovereign issuers that have pulled or considered pulling their currencies.

Bitcoin soars.

The Lowest Cost. Period.

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Top News

A terrorist truck attack in Berlin was the main story of the week.

Top Economic News

India’s war on cash continues. Bitcoin soars.

Re-evaluating Bitcoin


Bitcoin has many of the flaws of digital fiat currency.

  • no intrinsic value;
  • not a digital representation of anything other than itself
  • requires electricity;
  • requires an Internet device;
  • if there is a solar flare or internet goes down bitcoin becomes nearly worthless;
  • potentially trackable, hackable;
  • it’s in many government cross hairs;
  • no issuer;
  • since it requires no natural resources an infinite number of other crypto-currencies can based on it and created including those by government


Bitcoin judged vs. issued fiat digital currencies stands up well.

  • No one person of government entity can unilaterally recall or change the terms of bitcoin (eg. Nixon/Modi);
  • you don’t have to deposit Bitcoin in a bank or exchange them to give them value;
  • no expiration date;
  • no QE, policy changes, no government guarantees;
  • can’t kick you off the system or seize your account (See the Dark Side of a Cashless Society)
  • can’t limit how many Bitcoin you can have;
  • there is limited number of Bitcoin;
  • the laws can’t be broken as there is no issuer;
  • nothing to take, seize or confiscate (like eGold or Gold Money);
  • utility,transportable; get it when you need it – unless too late!

Bitcoin is a digital hedge against digital fiat currencies. The more we see egregious offenses by sovereign issuers against their own currencies, the better bitcoin looks.

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Gold and silver

Gold closed last week at $1134.60 an ounce and closed this week at $1133.50 (unchanged)

Silver closed last week at $16.07 an ounce and closed this week at $15.73 (-2.2%)

The gold and silver ratio ended the week at 72.06:1

 gold silver Ratio December 26 2016

Chart of the week

Dow Jones vs gold December 26 2016

You Tube Notes to this report

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Here are the stories we wrote, followed or commented on.

December 19, 2016

First India limited the amount of cash you could exchange, now they have limited the amount of cash you can put in the bank.

December 20, 2016

U.S. Mint Sales Update


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Pakistan War on Cash

Pakistan Senate proposes scrapping 5,000 rupee note

December 21, 2016


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December 21, 2016



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War on Cash

India Backs off on questioning depositors

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US Economic Data

Existing home sales 5.61MM, Exp. 5.5MM

December 22, 2016


Gold miners running out of gold?

India considering lowering import duty from 10% to 6%

Solid Gold Trump iPhone


Putin: Russia will join the euro one day

US Economic Data

Personal Spending 0.2%, Exp.0.3%
Personal Income 0.0%, Exp. 0.3%

Initial Claims 275K, Exp. 256K, Last 254K

Q3 GDP Final Estimate 3.5%, Exp. 3.3%, Last 3.2%

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December 23, 2016

US Economic Data

New Home Sales 592K, Exp. 575K, up 5.2%, Exp. 2.1%

Canadian GDP -0.3%, Exp. 0.0%, Last +0.3%

December 24, 2016


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