Tom Luongo on the Promise of Bitcoin
The Bitcoin Matrix
Deep Dive
Why does Tom Luongo believe the Federal Reserve should not be ended immediately?
Tom Luongo argues that ending the Federal Reserve immediately would lead to financial chaos. The Fed controls the most powerful currency in the world, and abruptly ending it would disrupt global financial systems, including trillions of dollars in covenants and assets. Instead, he suggests reforming the Fed by shrinking its power and returning to a system where regional banks compete for capital, which would allow for a more natural transition.
How does Tom Luongo view the role of Bitcoin in the future of the financial system?
Tom Luongo sees Bitcoin as a strategic asset that can serve as collateral in the financial system. He believes Bitcoin is better suited as base money, similar to gold, rather than a medium of exchange. He argues that Bitcoin's role as collateral can help stabilize the financial system and provide a foundation for a more durable monetary system.
What does Tom Luongo think about the potential for a recession or depression in the near future?
Tom Luongo acknowledges the possibility of a recession or depression, especially with potential cuts to government spending. He believes such an event could lead to deflationary pressures and social unrest. However, he also sees it as an opportunity to restructure the economy and shift investment towards more productive sectors like infrastructure and manufacturing.
Why does Tom Luongo believe the British and European powers are trying to start World War III?
Tom Luongo argues that British and European powers are attempting to start World War III to collapse the existing financial system and maintain control over global resources. He believes they are using conflicts in Ukraine, Syria, and other regions to escalate tensions and create a scenario where they can reset the global financial order in their favor.
What is Tom Luongo's opinion on the Federal Reserve's potential use of Bitcoin on its balance sheet?
Tom Luongo believes that the Federal Reserve could eventually include Bitcoin on its balance sheet as a strategic asset. He argues that Bitcoin, like gold, could serve as a form of collateral to stabilize the financial system. He sees this as a step towards a hybrid monetary system that combines traditional fiat currency with hard assets like Bitcoin and gold.
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