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20 Feb, 2020 14:13

Cryptocurrencies will be ‘The Night of Sorrows’ for fiat conquistadors – RT's Keiser Report

Cryptocurrencies will be ‘The Night of Sorrows’ for fiat conquistadors – RT's Keiser Report

The adoption rates of bitcoin in Latin America are skyrocketing, with the digital currency helping people “to regain their sovereignty against the conquistadors of fiat money.”

The Keiser Report hosts discuss the fiat conquistadors that, for many decades, have been ransacking individual sovereignty and wealth, using paper derivatives and debt.

“Credit conquistadors that rule us now have an unfortunate future, just like the Spanish conquistadors did for the same reasons,” says Stacy Herbert.

Max Keiser points to bitcoin as the way of getting rid of them, noting that the virtual currency is unconfiscatable. “Unlike gold, you can’t pick it up and run away with it. That’s why bitcoin is superior to gold on that level.”

He explains that “This ten-year period of zero money velocity, where money has gone directly into the pockets of the few oligarchs and conquistadors in America and around the world” will soon start to crack. “We’re seeing this happen now where people are noticing that the cost of everyday living is starting to spike higher,” Max says.

For more stories on economy & finance visit RT's business section