November 18, 2019
Answers to Your Questions
By Steven Longenecker, Publisher
I just had lunch with Dr. Ron Paul…
It was one of the highlights of my year.
He’s a legend.
For years, he offered an alternative to the typical positions taken by both the Democratic and Republican Parties…
Ever since he first went to Washington, D.C. in 1976, he has been a critic of fiat currency. He’s pushed to abolish the Federal Reserve, even writing a book titled End the Fed. And he’s spoken out for decades on the need for a new standard in the U.S. financial system.
You won’t hear many other politicians take those positions.
In fact, many have called him the “only honest politician in Washington.”
That’s why I’m so excited to hear what Dr. Paul says on Wednesday…
He just acquired his first bitcoin last month. And he’s thought about the importance of competition in currencies for decades. That’s why I’m so interested in hearing his latest thoughts on fiat currency, the Federal Reserve and the role of government in money, as well as the future of blockchain, bitcoin, and cryptocurrencies.
I think you’ll enjoy it, too…
And many of you have e-mailed in questions after our cover feature in the December issue…
Bobby Lee predicts bitcoin will eventually hit $1 million. What good will that be, if a loaf of bread costs $250,000? – Carl N.
Well Carl, it’s good for four loaves of bread… instead of 1/250000th of a loaf of bread.
I’d certainly rather have four loaves than a dollar-denominated crumb in this extreme future.
Of course, if you really believe that hyperinflation scenario is going to happen, we’d recommend owning gold.
How are these penny cryptos purchased that were referenced by Mr. Wade in American Consequences? – Donna W.
Fantastic question, Donna. We have the details on how bitcoin works in an essay from our November issue: How to Become a Blockchain Expert in Less Than Four Minutes.
But the specifics of the smaller cryptos that Eric focuses his research on can be a little more complicated. Click here if you’re interested in learning more about the penny crypto that Eric is recommending on Wednesday.
However, please keep in mind that we wouldn’t ever recommend you simply jump in and start buying. You have to do your research, know what problem the crypto or token is solving, trust the management team, and have a real estimate and expectation for where the price is heading next.
If you’re interested in putting aside some money for high-risk speculations, it might be right for you. But please, don’t put a penny in that which you aren’t willing to lose.
What happened to Eric’s brother who he shot!? – J.M.
We’ll let Eric respond to this one…
Not a day goes by I don’t recall the moment… his stunned look, blood oozing through his fingers holding his stomach.
He survived, thank goodness.
It was an accident. The gun went off in my hands while we were goofing off. “One inch to the left and he’d have died,” the doctor said.
In fact, it was Eric’s brother who initially made the introduction between Eric and the publisher of his cryptocurrency research.
Learn more about how Eric’s advice can help you, as well as why the crypto space is about to enter a new phase that will transform the way you think of bitcoin and how you do business… Click here to reserve your seat.
Now here are some of the stories we’re reading…
If you’re looking for a more precise figure for 2019, the U.S. government’s “Debt to the Penny” dataset puts the amount owing to exactly $23,015,089,744,090.63 as of November 12, 2019.
A $1 million price level for bitcoin isn’t just possible… it’s inevitable, according to Wade. And if he’s right, it would only be one of many “firsts” that he’s been at the forefront of.
The number of farm bankruptcies over the past few years is still not quite at the heights of the 1980s farm crisis, where a combination of a Soviet embargo, record supply, and an extreme drop in the value of farmland led directly to the creation of Chapter 12 bankruptcy in the first place. But the pattern is alarming…
Around 50 years ago, there were only 10,000 community associations in the country, but now there are more than 380,000…
And let us know what you’re reading at [email protected].
Publisher, American Consequences
With P.J. O’Rourke and the Editorial Staff
November 19, 2019