https://soundcloud.com/truth-in-media-1/exclusive-anthem-blanchard-talks-greece-cryptocurrency

 

Anthem Vault President/CEO/Director Anthem Blanchard sat down with Truth in Media’s Ben Swann to discuss the financial disaster in Greece and how his Bitcoin-gold hybrid, Hayek, will change how people treat currency.

Greece was basically borrowing money to pay pensioners; there is no more money to borrow and there is a run on the banks.

Blanchard speculated on how Greece will solve its problems: “I think what you’re going to see happen actually is that you’ll see Greece in some sort of IOU Euro currency,” he said.

“I think this is a narrative that you’re going to see spread. It’s basically a form of capital control.”

Greece’s potential fix is referred to as a “haircut.”

“Anything over $10,000 will receive a haircut of 30 percent,” explained Blanchard. “You lose 30 percent of your money over $10,000, basically. The small business owner that keeps more than $9,000 in any account- that’s a 30 percent loss right there.”

And that solution could encourage other countries to follow Greece. If Spain decided to overspend on social programs, for example, there is now the idea that the debt could receive a haircut. “So, it sets a precedent. And that’s really the danger in the real sticky situation that the Euro bank and the Euro government heads really have this conundrum on their hands,” he added.

And when it comes down to it, Greece’s middle class will be affected the most. The wealthy have already removed their money from Greece’s banks.

Blanchard said that we should look at Greece’s bigger picture. “There is all of this light shining on this issue right now. We have to point to silver linings here and solutions instead of getting too caught up in what ultimately is an unwinnable and unsavable situation long term.”

Blanchard explained that a situation like Greece is plausible in all countries who use currency not backed by anything.

“Ultimately having the printing press in the hands of the government is a very dangerous thing. That’s specifically why the founders of the U.S. specifically put into the Constitution about being able to identify gold and silver as being coinable money by the states. They recognized that it’s very dangerous for there to be a fiat money, a dictate money, a currency that the government demands that is has to be paid for all debts to a government or its government or its court system fines. It creates artificial demand and abuse, and you see the fallout right in front of our eyes,” explained Blanchard.

And having currency backed by something is why Blanchard is so excited about Hayek. “It’s a marriage between gold and Bitcoin. It’s payable gold. It is completely free of the systemic risk that exists in the existing centralized global banking structure, so just by nature that’s the way that this system works, so the beautiful thing is that even if there is any kind of fallout or any kind of ‘haircut.’”

“We can spend your gold anywhere. Anywhere that has an internet connection,” he added. “And that’s the power of what our team is building.”

This transforms the idea of buying gold, which is typically purchased to hold onto, not to spend. Blanchard’s view is that you’re still buying gold, but you can spend it using this cryptocurrency.

“The process is quite easy, and it’s getting even easier,” he said. “We’re making that gold more liquid.”

Blanchard is changing gold, and also changing Bitcoin.

“We give Bitcoin the stability and trust of a thousand years of gold.”

Click here to listen to Ben Swann’s complete interview with Anthem Blanchard, who talks more about the U.S. banking system and the future of currency.

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