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Aaron Clarey – Klepto-Currencies and Mortgage Burning Party

from Financial Survival Network

Aaron Clarey, a/k/a Captain Capitalism joined us today. He was in a celebratory mood. He’s paying off his mortgage and will be officially debt-free. Sometimes paying off your debt is the best possible investment you can make. It’s okay to borrow to buy assets that will self-liquidate the debt. We also discussed the emerging Klepto-Currency market. There’s over 970 crypto-currencies in the market right now. The leaders appear to have peaked and we’ll have to see what’s going to happen next.

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1 comment to Aaron Clarey – Klepto-Currencies and Mortgage Burning Party

  • Chris Ivey

    I have been predicting the collapse of crypto currencies since BitCoin first appeared.

    A currency is used as an exchange for the value of human effort – whether backed by tangible, fungible resources that require effort to collect – like gold, or by the fiat of a state that nominally can call on the labour of millions of its citizens. Crytpo currencies are necessarily arbitrary, and are artificially pegged to computing effort – which is meaningless to people.

    The one thing I failed to account for was criminality. I attest that the main thing keeping crypto currencies afloat is the fact that they can be used to easily wash payments for criminal enterprise. If there was no silk road, and no kiddie porn, BitCoin would have dried up and blown away years ago.

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