Report from Money Show – Las Vegas! Read to Discern our Future!
The past three days I have listened to some great perspectives on our economy and on trends now developing. The Money Show is an annual event for me here in Las Vegas, Nevada. This year some 6,500 traders and investors were in attendance at the Caesars Palace event. I will summarize my perspective on what I learned from the various speakers. Basically, the message from the majority was that our bubble stock markets should continue going to higher levels over the next few months. A small minority, however, presented strong evidence that a major correction/crash is brewing and that this event should start soon (this year for sure). The best overall evidence was presented by the speaker from Elliot Wave Theory (www.elliotwave.com). Steve Hochberg had solid facts which demonstrated that a serious and substantial market correction (30% or more) is now imminent.
My view is that Steve’s facts and data were much superior to the vast majority of speakers who seemed to enunciate more of the same (higher and higher bubbles). Steve presented the facts of our Debt situation (now beyond all historical levels), the Margin debt situation (at near the highest in all history), and the extreme optimism which the crowd tends to market during a major top in our markets. All his graphs and facts were solid and the crowd attending seemed to agree. Steve also senses that the bottom in Gold and Silver is now in and new highs will be reached with $1300 to $1400 or more this year. The gold market has reached such extremes that only 5% of investors view it as worth buying. This, to Steve, shows a psychology of extreme pessimism and this means a turn higher going forward.
Steve provided me with the best facts and evidence for why our financial system is in serious trouble! Go to: http://www.elliotwave.com for details!
The economist, Mark Skousen, also thinks that Gold/Silver is now ready for a major up cycle. This means that fear is entering the market and we could soon witness the correction/crash which I have predicted for some months. Personally, I talked to investors who are now going to all cash and many who are going to 25% cash. What does this portend for the future. People now sense that our markets are over extended and that the entire ‘house of cards’ could come tumbling down soon. The other area of my research, while at this Money Show Conference, was my questioning of many experts on the ‘nature’ of our money today. I was really surprised that hardly any speaker at this conference understands that our currency is now within cyberspace (a Cyber currency unit).
I talked to the experts at TDAmeritrade and other booths within the exhibit hall and asked these experts if they knew the difference between a Cyber dollar, a Paper dollar, and a Silver dollar. All could visualize what a ‘paper’ dollar was and some could identify the concept of a ‘silver’ dollar. None, however, could understand the concept of a ‘cyber’ dollar. When I explained to these experts (some with 30-40 years experience in economics) that we now use mostly a ‘cyber’ dollar for our money transactions, they seemed confused. What is a ‘cyber’ dollar? When I explained that a ‘cyber’ dollar is a ‘digital’ dollar, then they seemed to understand. When I asked if they knew about ‘cyberspace’ (the location of a ‘cyber’ dollar’ none seemed to comprehend). Why are all our experts so unaware of our money and its ‘nature’?
Our money/currency is now within Cyberspace. It’s a Bit-dollar or a Cyber-dollar! Today, most currency transactions are being executed with a Bitdollar or a Cyber dollar! Cyberspace is the location!
I also asked attendee’s at the conference if they knew the difference between a ‘cyber’ currency and a ‘paper’ currency. None seemed to comprehend the idea that we now transact some 95% of all trades and investments with ‘cyber’ currencies. What are ‘cyber’ currencies? I was rather shocked that so few (even the veteran speakers) could comprehend that our ‘money’ has changed from mostly printed notes to cyber digits. Many understood the concept of Bitcoin (the virtual currency with an image) but they could not comprehend Bit-dollar (the virtual currency we all use for almost all our financial transactions). It is amazing now unaware our public and our experts are on the issue of ‘money’, ‘currency’, ‘cyberspace’, ‘virtual reality’ and ‘consciousness’!
Most comprehend the concept of Bitcoin but they do not comprehend the concept of Bitdollar! Today, we use Bit-dollars and we use Algorithms to earn our Bit-dollars! 80% of trading volume is now done using Algorithms!
People really need education on the ‘nature’ of our money and the ‘nature’ of cyberspace. The vast majority of educators and speakers at the Money Show do not know that they use a smart phone for their trading, banking, and investment decisions (even while they do so in the moment). When I pull out my Smart Phone and show them the markets on my phone screen, then they seem to comprehend. Intellectually, however, many seem like Zombies on the ‘nature’ of our money and the details of cyber transactions! They use their tablets, laptops, and smart phones for their investment decisions, but they can not discern that our ‘money/currency’ is now also within their computer screen. Why this lack of discernment? Why this disconnect from reality?
Many seem to assume that our Bitdollar is real and has substance! But does it? Where does a Bitdollar come from? How is it created so that it appears in our computer screen? Why this disconnect on the ‘nature’ of today’s financial reality?
I asked one investor at the conference if he thought that our money had any physical substance now that we use ‘cyber’ digits for our currency? Absolutely, he said. The numbers which he witnessed on his computer screen were real physical phenomena, he claimed. When I asked if he could hold a cyber/computer digit in his hand (like our paper dollar) he seemed totally confused. I have now learned that the vast majority of people discern reality much as a talking zombie…with little understanding of how our monetary system functions. People do not comprehend the ‘nature’ of cyberspace or the reality of their own ‘consciousness’. All this was extremely interesting to me. Reality, as I live it is not ‘reality’ for the majority, it would seem! Very interesting!
The above view is the view of most! People still think money is a ‘printed’ note! Our experts create this perception in the minds of most! This seems unfortunate, to me!
Yes, there is a difference between a ‘cyber’ dollar, a ‘paper’ dollar, and a ‘silver’ dollar. A silver dollar is a ‘thing’ which exists. A paper dollar is a ‘thing’ which exists. But a cyber dollar is a unit of my/your consciousness (it does not technically exist). Cyber currencies are created from the MIND of banksters (and out of their consciousness). Think of QE as an example! Where does QE derive from? Who creates it? Who types the digits (called a dollar) into the computer? Where is the substance which composes this cyber unit? Where is the Bit-dollar prior to keying the unit into the computer screen? What is a Bit-dollar? What are bits/bytes? What are the 1’s and 0’s (the binary code) which make up our virtual dollar?
Ben revealed the reality of how ‘money’ is created. Reserves (digital units/cyber units/virtual units) get typed into the computer screen! There is NO ‘printing’ of notes as so many assume with their speech!
Yes, the confusion over our money and our currency is pervasive! Few can discern what is happening today in our metaphysical financial markets. The problem is the concept we call CONSCIOUSNESS! Who am I? Where am I? What am I? What is the difference between spiritual reality and physical reality? Few seem to understand and few have a desire to understand. This is what I discovered at the Las Vegas Money Show, May 11-14, 2015. We live in a confused financial marketplace and most could care less! Will this change if our markets crash? My sense is YES! All will change if the SITUATION changes. The situation creates the problem and the problem creates one’s viewpoint! Enjoy! I am: https://kingdomecon.wordpress.com.
P.S. One speaker at the Money Show, by the name of Jeffrey Hirsch, thinks our Dow will go to 38,820. I talked to him for some 20 minutes about his book and speech and he explained his scenario. Jeff bases his prediction upon his reading of history. Jeff thinks that ‘inventions’ create our rising markets (not the QE or money from our Central Banks). Inventions, says Mr. Hirsch, like the invention of Henry Ford in 1905, are what moves markets. The cell phone invention is now over says Jeff and the next great ‘invention’ is coming. This ‘invention’ will create demand and this demand will move the Dow to 38,820. I asked him about the concept of ‘effective demand’ (the idea that people need money to create this number). What if the Central Banks don’t provide this liquidity? He did not view this as relevant! So who can argue with someone’s positive scenario going forward? We all have an opinion! This proves my theory that all is ‘relative’ and NO One knows the future! I, however, have my own view! A major correction/crash is soon coming! Cyberspace (its ‘nature’) is my theory of why!