“Bitcoin Will Be OUTLAWED And REPLACED By Government Issued Digital Currencies”

Former software entrepreneur turned hedge fund manager has some harsh words for people thinking the government can’t enforce an outlaw…

Editor’s Note: Be sure to check out our section on War on Cryptocurrency. We coined that term last year and that section of the website has documented the government’s crackdown on Bitcoin and the private cryptocurrencies.

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Erik Townsend interviewed by Jason Burack on Wall St for Main St

During this hour+ long interview, Jason asks Erik about important topics including:
1) An in depth discussion of the Oil market and if Erik is worried about a record speculative long position in oil futures? If the Saudis don’t want a higher oil price?
2) The rising yield on the 10 year bond and how it is now over 3%! Erik thinks that if yields continue to rise on the 10 year bond, that it will eventually crack the stock market and cause a large correction or crash.
3) Tracking error on VIX ETFs and also how the leveraged short volatility trade has expanded far beyond just stocks now!
4) How will the Fed be able to sell ~$600 billion in asset sales via its QT program AND the US Treasury also will need to sell $1.2 trillion in additional US Treasuries in the near future. Who will be the buyer? Will pension funds and insurance companies be forced to buy?
5) A conversation about Bitcoin, block chain technology and crypto currencies in general. Erik thinks Bitcoin will be outdated and old tech (like the Wright Flyer https://en.wikipedia.org/wiki/Wright_… is to airplanes in the near future) and he thinks the same thing about other crypto currencies that rely on proof of work.

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