2015.02.19 The Bubba Show

Anthem Blanchard of the Anthem vault discuss the hacking scam on Bitcoin. Bubba and Anthem talk about Ron and Mrs. Paul visiting his conference. How his father worked in the financial world. Anthem states that he doesn’t favor central banks he prefers a decentralized currency. What happens if the Central banks fail? How do we keep security if the troops can’t get paid? What happens if all of the central banks fail? 

How does Bitcoin clear trades? What happens if we have no clearing corporation? The network clears the trade and the computers will clear the trade. What happens when the bitcoin exchanges get hacked? We are in the preliminary market space and when the industry matures things will work their way out. Good idea for having an ETF.  Anthem states that Gold thru Hayek will allow the ability own Gold in small amounts for universal payments.

Anthem states that with the global Hayek it will allow for the instant transformation of payments in any country, he cites Gyft.com as an example as an internet company that accepts gold. The longer we have government intervention in markets unproductive capital will be bailed out. The QE’s are nothing more than a legalized Ponzi schemes that are racing each other to the bottom currency to increase exports.     

Why will the markets benefit if we have no centralized clearing. Because decentralized clearing minimizes the chance of a massive failure. Jackson tried to decentralize the currency and it resulted in a collapse of the economy. Anthem feels that technology will mitigate much of the problems that happened in the 1830’s. In today’s society technology allows for the transfer of funds instantaneously if you have an electronic currency.