I have great respect for Martin Armstrong's work.
However, when it comes to the topic of Bitcoin, he seem to be a little too pessimistic, saying the government can shut it down anytime it wants.
I wrote him an email asking who he would think the government could do this, but received no reply until today.
Anyone with more info?
MA is pessimistic of private money surviving long term, it usually appears during a crisis and withers away or ends up being taxed anyway, there's nothing new under the sun so the saying goes.
He doesn't believe bitcoin will be any different.
"The idea that Bitcoin can circumvent government currencies and taxes I just do not buy. I suspect these people are licking their chops to rush in. That is my only concern. You cannot withdraw $3,000 in cash without them freaking out. They will an underground economy exist? I seriously doubt it."