Digital bitcoin currency is all over the news lately, but what’s the real story?

This week’s podcast from economist, columnist, radio host and international speaker Jerry Robinson, in his “Follow the Money Weekly” program, has all the details.

“Bitcoin is a very unique, unbelievably attractive form of money, currency,” Robinson said. “It has the benefit as operating as a medium of exchange. It’s legal.”

But he noted that he was introduced to it when it was about 40 cents – and now it’s in the range of $800.

“The problem is that it doesn’t operate as a store of value, unlike, say, gold,” he said. “This is my beef with the whole bitcoin vs. gold argument.”

Robinson brings onto his program Trace Mayer, who has produced the ebook “Bitcoin Beginner’s Guide.”

“This is not going to end well for those who are buying at these levels,” Robinson suggested. “Could it go higher? It could. Much higher. But I think it’s going to be boom, bust, boom, bust.”

He noted that there now are numerous “bitcoin wannabes” out there.

“It’s all a bubble, designed to get your eye off the ball,” Robinson said.

He said a bitcoin is “strictly for speculative money.”

Tom Cloud also joins the podcast to talk about precious metals, and Jay Peroni and Jennifer Robinson discuss the latest changes in stock portfolios.

Podcast is 56:10.

Previous podcasts:

Blame Walmart’s slide on ‘higher taxes’

See who’s rejected U.S. dollar now!

Do you have an escape plan?

How to avoid that lousy ‘retirement’ job

What do Cabela’s, Six Flags have in common?

Coming soon! ‘Transatlantic Union’

Economy settling down? Think again

Is this the calm before the storm?

The decline of the global stock market

Signs in the sun, moon and stars

All eyes on stocks rally

‘This isn’t your grandfather’s economy’

Gold dropping? Why not to worry

What’s to love about gold, silver prices

Let the printing presses roll!

New challenge rattles economy’s foundation

Big Brother looking at your bank account

Currency war pushes stocks to new realms

America and the ‘Age of Fiat’

Entitlement liabilities? Try $120 trillion

Paycheck to paycheck, and what to do about it

Boosting your savings – now!

Germans want gold reserves returned

‘The unbelievably bogus debt ceiling debate’

Investing in what people need

Is America on the eve of a civil war?

Becoming your own banker

Again? Feds printing and spending more

Why you should care about petrodollar system

The real story about the fiscal cliff

Last hurrah from a state statesman

Housing starts up, prices grow, and that’s bad?

Learn more about Jerry Robinson’s “Follow the Money Quarterly” newsletter.

“Bankruptcy of Our Nation: 12 Key Strategies For Protecting Your Finances In These Uncertain Times.”

Jerry Robinson is an economist, published author, columnist, radio talk show host, and international conference speaker. Robinson has been quoted as an economic authority by USA Today, FoxNews and many other news agencies. His columns have appeared regularly in numerous print and web publications, including WND. In addition, Robinson is also the editor-in-chief of the popular economic newsletter, “Follow the Money Quarterly.”


Note: Read our discussion guidelines before commenting.