Bitcoin Q&A: Global financial crisis (GFC)


[AUDIENCE] I really believe that we will have another
global financial crisis (GFC) in the short-term future, because of the debt and endless printing
of millions and millions of dollars. At a certain point, there will be a default.
I don’t say that I know [what will happen], but I want to ask about your personal view. Do you think there will be a repeat of the
financial crisis that happened in 2008 – 2009? What will the reaction of Bitcoin and the
other cryptocurrencies across the world be? What is your personal opinion?
[ANDREAS] What you want me to say… [Laughter] [AUDIENCE] I don’t want you
to tell me what I want to hear. Tell me what you think! There may be a big difference
between what I want [to hear], and what you think. [ANDREAS] Many people are slightly gleeful
about the idea of a global financial crisis… that will send bitcoin to the moon and make
everybody in this room a multi-millionaire. Beware what you wish for. It would depend on the
timing and the level of crisis we are talking about. In general, small-scale regional crises are
beneficial for alternative systems of money, because they demonstrate why a different way might
be better. They give people choices and a safe haven. They give people an opportunity to exit a broken system,
an opportunity to escape oppressive governments. Move their money [easily] across the border as
a refugee; send money home as an immigrant. They can provide protection against
inflation, against currency controls. Potentially, one day, [a way out of] war [zones],
genocide, and other crises like that. Absolutely. But if we had a global financial crisis today,
the investment currently going into bitcoin… from the middle class, startup companies, venture
capital, and even bank consultants, would disappear. People who don’t have money can’t invest, right?
We saw this happen in Greece. People did not flock to buy gold or bitcoin.
Why? They didn’t have any bloody money! People ask me, “Why did they leave money in the
Greek banks?” They didn’t leave money in the banks. They didn’t have money in the banks. Their paychecks
[were going in] every Friday, and then were stuck there. They tried to take it out as fast as they
could, try to make it until next Friday, when their employer gave [their paycheck]
to the Greek banks for them again. What do you do there?
How do you escape that? People start selling their belongings
[before] they start buying other assets. That is not something to wish for. I hope
we don’t see a massive global financial crisis. I don’t think it is good for anyone, obviously.
It is painful and kills a lot of people. It is very damaging to the world economy.
We will see regional crises, though. I hope we have a gradual, non-violent, and
copacetic transition to a superior technology… that serves the needs of people. However, if you read history, you know that [change]
will probably not happen exactly like that. [Laughter] At the same time, I will hope for that. The alternative is ugly, sudden, chaotic,
disruptive, painful, violent and bloody. You will see people being persecuted.
It is already happening in Venezuela. Bitcoin miners are being arrested and
given jail sentences for [activities]… [related to] mining [this] alternative currency. This is happening today. Let’s hope that doesn’t spread.
That is not [a good] way to achieve success, for desperate people to have no other choice. [It is about] people making an informed choice
because they want to. You are here because of that. No one forced you to be here.
That is how we would like to keep it.

26 thoughts on “Bitcoin Q&A: Global financial crisis (GFC)”

  1. Altcoins need about nine years of "experience" to catch up to the continuous improvements of Bitcoin.
    They have not begun to experience the growing pains. Altcoin buyers beware!

  2. What we hope for is irrelevant. The point is to be prepared. There's no doubt that people have made fortunes during bear markets. Joe Kennedy, Jesse Livermore, and Michael Burry, just to name a few. Were they hoping for carnage and destruction? Who knows. But they saw crashes coming and they were prepared. Clearly there are a lot of economies that need to deleverage or restructure. That can happen in good way or it can happen in a bad way. It can happen to one country at a time or it can happen all at once. Just be prepared. Be prepared to move. Physical gold, physical silver, and cryptocurrencies are just tools.

  3. Personally I feel food, water and everyday items would be prudent over the next crash. The difference is that they are manufactured by bad actors with an agenda to enslave humanity and bring forth a distopian society. Ordo ab chao

  4. I both hope and think it will be a massive depression. People need to wake up, if the power of the central banking cartel is to be broken. When people have no money they will be looking for answers and will be more willing to listen. Yellen the felon just said she didn't see a depression for a long time. If she's proven utterly wrong, things might begin to change.
    Of course I don't wish for people to suffer, but if this system continues, they will anyway.

  5. If global economy collapses, crypto will collapse with it. All the crypto companies that are being funded millions would suddenly no longer be funded which will cause it to shut down and the all the tech development will come to a halt.

  6. The Luciferian elite aren't interested in our success rather our enslavement …the Crash will be astronomical and could bring martial law etc…of course greece/India were the beta tests…..Rome aka USA is burning….

  7. The idea of bitcoin and even the idea of the Internet itself is disruptive. A hope for peaceful disruption won't change reality. Because these disruptions are so innovative, valuable and unrivaled in efficiency, as long as the same hoops are hurdled as were streamlined with the network-based Internet, mainstream usage will come in a similar fashion. The real question is when their true value will be realized by the big players that move current markets and, more specifically, when they will decide to integrate the tech into their businesses for the sake of cost-savings, efficiency, or growth.

  8. "Be careful what you wish for"… your finances are about to be chipped. Those stashes you've been saving under your mattresses are about to become visible. Laugh now, because the FED will always get the last laugh. ..😂 j/k… love Andreas work

  9. So what happens when people lose their crypto keys? their coins are lost… forever. what's the point of a currency that cannot circulate?

  10. Martin Armstrong— ECONOMIC CONFIDENCE MODEL
    From an economic viewpoint, the economy turned down Wed. Sep. 30, 2015 on a global scale coinciding with our Cycle of War on the international model.

    We should see the economy turn downward into a steeper recession moving into Tue. Oct. 24, 2017, which is the next turning point on the Economic Confidence Model followed thereafter by Tue. Jun. 12, 2018.

    Caution is advisable for it appears we should see an overall recessionary trend emerge on a global scale this time.

    The critical political target on our Pi Model will be Mon. Oct. 22, 2018, where typically important political events unfold. Overall, this economic decline should continue into the next low of the Economic Confidence Model which will be due on Sat. Jan. 18, 2020.

  11. Great Answer Andreas! It reminded me to this scene in " The Big Short" https://www.youtube.com/watch?v=0k5aVLi_yhM . Lets not hope for a GFC.

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