Weekday Wrap-Up: Bitcoins and Goldbugs, Q3 Earnings Signals, $40 Oil, and Geopolitical Feedback Loops

Dominic Frisby says Satoshi Nakamoto is a goldbug and explains how bitcoin was designed to replicate gold mining. Sheraz Mian of Zacks Investment Research says third quarter earnings season will be very important this year and explains why. Jeff Rubin, who used to think we’d see $200 oil prices, is now calling for oil to hit $40-50 a barrel; and, the last guest to our show this week, Don Coxe, explains the difficulty of anticipating geopolitical feedback loops on the financial markets.
Here are a few excerpts from this week’s set of interviews, which recently aired to our subscribers in full (click here for more info).
Here’s Dominic Frisby on how Satoshi was a goldbug and created bitcoin to replicate gold mining:
“The guy who invented Bitcoin, Satoshi Nakamoto…if I’m right in who he is, he was a great great student of money. He wrote loads of papers about money and he was a goldbug. He hated inflation; he hated what governments were doing to money – the manipulation of interest rates – and in some of his other work he described inflation as pernicious; and his aim was to as closely as possible replicate the effects of gold digitally. So he wanted a sound money. He wanted a deflationary system of money. He wanted a money where there’s limited supply. The whole process of creating bitcoins on your computer known as mining was designed totally to replicate the gold mining process…” (Click here for audio)

This post was published at FinancialSense on 10/10/2014.