"They are all playing games, sucking money out and moving it. And the crypto scam is literally the scam of the century because it just makes every other scam. But the crypto ecosystem, in my opinion, is gone. It is dead on paper and already gone. Counterparty risk deluxe, unregulated, no insurance, no FDIC, no nothing. It's going to go away," Perez told host Seth Holehouse during the November 14 episode of the "Man in America."
The crypto and financial analyst added that the entire crypto ecosystem has already been vaporized since there is nothing in it. "It is going to go down like a giant ball of flames and people are going to start seeing the contagion go with BlockFi, crypto.com and other crypto companies crashing," he said.
According to Perez, every one of these crypto projects – including Sam Bankman-Fried's FTX – has a backdoor through which they are moving money with. He added that people are going to see the coming arrests of all the crypto promoters.
Elsewhere in the show, Holehouse brought up a recent tweet from investment guru and financial expert Peter Schiff, who said that a crypto extinction is coming with blockchain living on and gold rising again to lead a new breed of asset-backed cryptos.
Perez commented that Schiff is right in his tweet that an extinction event is happening.
"I agree with him. This is a total extinction event. From his standpoint, he's coming from a standpoint of counterparty risk, there's no money backing these things. We have regulatory issues. This is not a sovereign-backed system. There's just nothing there. It's vaporized and he knows it," Perez said.
But what Schiff did not talk about is the global implications of the war crimes, the crimes against humanity and the military involvement of Bitcoin and FTX in stealing an election by being the second largest donor to Joe Biden's presidential candidacy as well as being a provider of funds to buy weapons to kill Russian troops.
Perez pointed out that the architects of crypto and the financial system are the same people.
"They architect this crypto system as a shadow banking system and convinced everyone to believe in it. And as it is imploding, it literally is a shadow of the fiat system that can implode and do the same thing here. And this is why gold and silver are so important right now... because this stuff is going down. It is going down hard. Extinction event without a doubt," Perez stated. (Related: Health Ranger Report: John Perez highlights the importance of having silver and gold as crypto collapses.)
The impending extinction event bodes well for the precious metals market. Perez even considers it as "the greatest event for precious metals."
"I believe this is the greatest event in history to show that precious metals are the place to go. Russia has got the gold backed ruble. We are going to see a gold backed Yuan coming soon when China invades Taiwan either before, during or after that event," Perez said.
The financial and geopolitical analyst added that gold and silver are going to take the spotlight next year with silver and gold mining stocks becoming the new crypto in 2023.
The imminent collapse of cryptocurrency will also vindicate those who stick with the precious metals when they were under attack.
Perez said the "silver psyop" in recent years was a globalist multistate psychological operation to crush silver and promote Bitcoin. It was followed by the "drop gold" propaganda. He also mentioned that some people who left the precious metals market had been paid to promote Bitcoin nonstop on YouTube.
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This video is from the Man in America channel on Brighteon.com.