Owning Bitcoin and Gold in a Crisis with Kenneth Ameduri

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We met with Kenneth Ameduri, independent investor and Chief Editor and Co-founder of Crush The Street. We discussed the following topics:

 

  • Kenneth’s view on the impact COVID-19 and the artificial economic manipulation of debt and artificially low interest rates;
  • Large corporations are suspending dividends and facing going under;
  • Even conservative organizations and people are opting for socialized government payments in this environment;
  • The government is growing larger than the private economy, and this trend is unsustainable;
  • The Fed will be able to paper over the current crisis, but the next crisis may be the last as it will be even bigger;
  • The bubble “conspiracy” is becoming much more mainstream, and more people are waking up to the issue;
  • Government benefits may be increasing lifestyle of lower income earners due to stimulus;
  • But he expects major infrastructure projects from the government to get people back to work;
  • Defaults need to happen, unaffordable lifestyles need to end, bankruptcies need to flush through the system;
  • Stock market likely to be propped by Fed money printing for now, but debt in system will not allow this to last;
  • Loved gold, which is what led him to start his newsletter;
  • Believes gold is in competition with fiat money, and governments are likely to push people to cashless societies to support current fiat system;
  • Gold will outpace the crisis that is brewing in the underlying economy;
  • Follows Bitcoin and believes cryptos, along with gold, are a competitor to, and measure of dissatisfaction with, the fiat money system;
  • Bitcoin is a solid alternative for those that have experienced tyrannical governments due to trust in the network and the network effect;
  • Bitcoin is early in growth and is therefore volatile while new competitors could emerge; however, Bitcoin is the current dominant crypto option;
  • Bitcoin is an ally to gold because they both offer better alternatives to debt-based money;
  • Does not believe hyperinflation is not around the corner due to worldwide use of pure fiat currencies;
  • Will see continued separation of rich and poor due to asset ownership;
  • Sees value in preserving wealth in this environment over taking chances in the markets;
  • Silver is a fantastic opportunity right now as gold is rising.

 

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