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Will the ongoing banking crisis cause gold and Bitcoin to rally?
Greg Foss, Bitcoin Strategist and Executive Director at Validus Power Corp, and Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, discuss the Federal Reserve’s latest rate hike decision, along with Powell’s statement that the U.S. banking system is ‘sound and resilient’ — which Foss disputes. Foss claims that more banks will fail, and that $10 trillion could be ‘wiped out’ from the banking system. This will occur alongside a broader U.S. public debt crisis, which will cause Bitcoin to soar in value as the American economy deteriorates.
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
Follow Kitco News on Twitter: @KitcoNewsNOW (https://twitter.com/KitcoNewsNOW)
Follow Greg Foss on Twitter: @FossGregfoss (https://twitter.com/FossGregfoss)
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0:00 – Banking crisis
15:32 – Bailouts and bail-ins
22:24 – Soft landing
25:46 – U.S. debt and fiat debasement
27:18 – Quantitative easing
30:31 – Bitcoin as insurance
48:00 – Bitcoin price
48:45 – Portfolio allocation
#bitcoin #inflation #banking
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