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Bitcoin, Gold and the Cashless Society

  • Broadcast in News
SOTT Radio Network

SOTT Radio Network


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This week we’re taking a look at the recent hits taken by gold and ‘Bitcoin’ – a so-called ‘virtual currency’. Touted as a solution to people’s concerns with online privacy and protection from overbearing and centralized fiscal authorities, Bitcoin has steadily risen in popularity and value since its launch in 2008… until a couple of weeks ago when its dollar value suddenly plummeted.

What happened to make people suddenly lose interest? Or more sinisterly, was the digital currency attacked by financial speculators? What makes prices rise and fall anyway? Speculation, hype and ‘pump-and dump’ schemes certainly play a role in making or breaking products on the markets or manipulating the value of states’ currencies, but are there forces at work here that extend beyond human influence?

And what about paper money? Do you still use it? Will it soon become a thing of the past? Is a cashless society, where all purchases are made with digital transactions, really on the cards?

Everyone knows that ‘money doesn’t grow on trees’, but where then does money come from? Why is there never enough of it for most of us and far too much of it for the 1%? Is this era of record wealth disparity between rich and poor unique in history? Or do we have historical precedents to compare it with?

Join us this Sunday 28th April from 8-10pm CET (2-4pm EST) as we try to unravel the mysteries of the money machine.