icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Cash is turning into trash, just like in Venezuela, says Max Keiser

Cash is turning into trash, just like in Venezuela, says Max Keiser
The hosts of the Keiser Report, Max and Stacy, look at the data on what the trillions in free money are doing to the wealth gap, as the topic of the demand for more of that free money trends on Twitter.

As MicroStrategy CEO Michael Saylor points out, cash is losing 50% of its purchasing power per year. “Why would you hold on to something like that when you have bitcoin that’s appreciating on average 200% a year for 10 years? It’s a pretty simple trade, once you see the raw numbers,” Max says.

“Paper and fiat money is now turning into trash, as it has in some of the emerging markets, like Venezuela,” he adds. “And assets like bitcoin are becoming the go-to asset to protect yourself against the melting ice cube on your balance sheet.”

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