Kerry Lutz's--Financial Survival Network

Andrew Hoffman joined us today! He's back! He's started his own website www.CryptoGold.com. It's subscription based but with Andy's constant stream of content you'll never be sorry. Bitcoin "crashed" down to $3900. It keeps going up and then having these mini-crashes. Gold is still under attack as usual. Will there be a tax deal? And how could it be bad for gold anyway. If the price goes up then it will keep going up. Gold is going up as Bitcoin goes up, it's not a coincidence. 

We wish Andy the best in his new endeavor!

There's a lesson to be learned from the recent Hurricanes Harvey and Irma. The attitude is don't worry, the government will take care of you. This attitude is prevalent in the economic world as well. Don't worry about your bank the government has got your back. Until they don't. And then what? 

Mark Falter says that Bitcoin is here to stay. There is a lot of hype and there is a bubble formulating in this area but certain types of this type of currency will be around and worth a lot more in 10 years. There are numerous types of cryptocurrency available , Bitcoin was one of if not the first.

Mark has heavy concerns about some of the other forms of currency. They can be a major venue for money laundering. Very much like the .com companies in the late 90s, over priced over valued , but there were a lot of people made a lot of money on them and many of those .com’s are still around today (Yahoo, Amazon etc, eBay).

The major problem we have with cryptocurrency is it is inviting a “Den of thieves” and is something that someone doesn’t want to go into blindly. The “Blockchain concept” makes in nearly uncrackable, and if done right can be very safe. One pf Mark's major concerns is it's all very unregulated, the SEC can regulate the sale of this fund but Cryptocurrency itself they can not.

Full Disclosure , Mark owns Bitcoins. 

Gold is showing new life. Just wait till the Cryptos crash, especially Bitcoin. Then anything bullion related will zoom higher. Let's see what happens next. It's going to retest $1300 and then go higher. Hurricane blues are setting in. It's not going to be a net plus to the economy. And keep your eye on the dollar.