IMO, no. BTC and ETH are range bound. And most of the rest of the crypto world is much worse off, down 25-50% ytd. Despite the huge advertising blitz, cheerleading from CNBC, etc., cryptos have gone sideways or down. Add the fact that the fed balance sheet is still growing until May (supposedly QE will end then), and the threat of interest rate hikes at upcoming fed meetings throughout the year, there is no obvious catalyst for crypto prices to rise. I've been able to convince a couple friends/relatives to load up on I series bonds though. What do you think, other than the fed abandoning interest rate hikes and balance sheet reduction, almost before it starts, as resulting in BTC and/or ETH climbing anywhere near ATHs?
Cryptos are currently following equity price direction. They will divorce with the next swan, color unknown.
Apparently a lot of speculators are moving to cash. Look for major price moves in cryptos and PMs when it is realized that cash, in a highly inflationary environment, is a zero sum game.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb,
You still holding a position in UVXY?
The markets churning....down 2% up 2% down 2% doesn't help. I bought SPXU <$14 2 weeks ago, would like to see 3 big down days in a row and get out, lol. Otherwise, max pain for most.
@RobM said: @derryb,
You still holding a position in UVXY?
The markets churning....down 2% up 2% down 2% doesn't help. I bought SPXU <$14 2 weeks ago, would like to see 3 big down days in a row and get out, lol. Otherwise, max pain for most.
not for quite a while. Put in ETH, down ever since.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Most Fascinating Occurrence in the Cryptosphere this last year has been Terra Luna.
I have only been watching its meteoric rise from under a dollar to over $100... so no positions.
What's really interesting is its tied to a decentralized stablecoin UST that holds a peg to the dollar 1:1
Generally speaking As more UST is created , more LUNA is burned which reduces luna supply, and if demand comes in, Luna price go up)
Luna is traded in a place called terrastation and There are a lot of ways to lend out your crypto, stake it, or high yield saving account type stuff to get yields which is interesting to me.
Well, lots of theories flying around about a specific attack, some say orchestrated by Hedge funds blackrock and citadel -
Somehow the 1:1 peg broke, and it caused a reverse effect, with LUNAs being created to try and reestablish the peg.
As a result, the $100 crypto (a few weeks ago) is back to a $1 crypto today, with trust shattered as well as the savings of those "LUNAtics"
However you feel about crypto, dollars or Precious metals, some tough lessons were dished out today.
In that spirit, here are some stupid sayings that maybe put a smile on someones face.
@cohodk,
The same sentiment should be applied to US stocks, no? Biggest difference is that there is no way to reasonably value crypto currencies, so it may be easier to mock hodlers. But historically, stocks have been valued based on earnings, dividends, etc., with a share price to trailing annual earnings of around 15. In recent years valuations have tended to extreme highs. If the Fed were to ultimately do what it is threatening (normalize interest rates, reduce balance sheet), the S&P 500 would need to fall 25% further just to reach the median historical PE ratio. Considering that crashing markets tend to overshoot, a bottoming S&P 500 PE of 10 might be reasonable, which would mean the index falls below 2000. And, that is assuming that earnings don't fall.
Terra Luna Crypto down to 1c today and the blockchain was officially halted.
SEC chairperson Gary G. said they want to regulate cryptos like securities, well the ones that meet a similar criteria as securities.
Decentralized Ledgers that didnt have an ICO and are mined over time (like bitcoin) do not fall under the language, but Centralized cryptos like Ripple, Etherum, Solana and a lot of others will.
Will be interesting to see the next stage of the crypto evolution.
@LukeMarshall ,
Do you see any scenarios where cryptocurrency contagion spills over into the financial markets? Would be interesting if the stablecoins were bailed out just like money market funds were when they broke the buck a few years back.
@RobM said: @LukeMarshall ,
Do you see any scenarios where cryptocurrency contagion spills over into the financial markets? Would be interesting if the stablecoins were bailed out just like money market funds were when they broke the buck a few years back.
Hmmmm, interesting observation...
The biggest stablecoins today have to be
USDT - Tether
and
USDC - USD coin
I have heard stories that the "reserves" that Tether holds are not fully audited and that a melt down there could spill over into the crypto market.
The concept of terraLUNA and the UST came later, and was based in part on the tether model, but with a decentralized feature. UST getting wiped out causing Billions in losses caused huge disruptions in the crypto market, and I can only imagine what a destabilization of tether would do.
That being said, the tether peg to the dollar (1:1) did fall today to 95c briefly in what could be considered an attack on a smaller scale, but I think tether is orders of magnitude bigger and have some more tools in their arsenal.
Also, since the stablecoin tether is created and destroyed by a centralized authority, it could absolutely fall under the SECs definition of a security, even though its purpose is to act as a currency unit - but its still a crypto.
Maybe in the future if Gensler wants to regulate stablecoins they could offer something like FDIC for a certain amount incase of the unexpected peg break and plunge. Perhaps when they release "Fedcoin" they will have better structure around the regulating of stablecoins... maybe they attack as many others as possible in a hope to corral everyone into their Central Bank Digital Currency with the protection that your dollars could be keystroked back into existence in the unfortunate event of a unfortunate event.
Oh and to answer your other question , I think contagion has leaked into all the markets already... judging by the accelerated declining slide in everything PMs, stocks, and Cryptos - in the face of "record inflation" (isn't gold supposed to go up with inflation?? ) But maybe its just the old "sell in May and go away" lets check back in November
Seems to me like the only people making money in this environment are those members of congress that invested in Military Support companies last year before voting to send aide halfway around the world in the form of stinger & javelin missiles thus increasing business & share price of those companies all the while increasing taxpayer funded death counts each time one of those shiny missiles blows up on target...
I heard there is a monster box worth of silver in the blasting cap on those things... (gotta keep it PM related ya know )
" judging by the accelerated declining slide in everything PMs, stocks, and Cryptos - in the face of "record inflation" (isn't gold supposed to go up with inflation?? ) "
From what I recall from past market declines, gold follows suit (dropping) initially due to investors having to sell assets like gold (a desirable asset easy to convert) to meet any market losses they have to cover.
Typically one would hope the gold price would then strengthen as more invest into it to hold value. But things are so convoluted now... who can predict? I sure can't.
From what I recall from past market declines, gold follows suit (dropping) initially due to investors having to sell assets like gold (a desirable asset easy to convert) to meet any market losses they have to cover.
Typically one would hope the gold price would then strengthen as more invest into it to hold value. But things are so convoluted now... who can predict? I sure can't.
Yes like in 2008 market meltdown, gold and silver bottomed something like $900 and $8 but there wasn't a lot for sale for the short time at that price as everything had premiums. Looking back it didn't take long for Gold and Silver to come back strong making highs a couple years later.
Crypto is competing for market share against traditional assets like Gold for sure, and there are a lot of younger investors in the markets now that want the huge swings that crypto present and the allure of getting rich quick. Thing is it goes both ways, when the entire perceived value of your crypto (in the case of LUNA) is wiped out in a few short days.
Which makes the case for Gold... and more ridiculous idioms
The Dow Jones Industrial Average headed for its biggest loss since 2020 on Wednesday after another major retailer warned of rising cost pressures, confirming investors’ worst fears over rising inflation and rekindling the brutal 2022 sell-off.
The Dow shed 1,255 points, or 3.8%, or the average’s biggest decline since October 2020. The S&P 500 traded 4.3% lower, the biggest drop since June 2020. The Nasdaq Composite slipped 4.9%, the largest fall in the tech-heavy index since May 5. The selling was broad and intense on Wall Street with just 13 members of the S&P 500 in the green.
I can’t believe the casino mentality that permeates cryptos. Either the buyers want to get rich at the detriment of others, or think they can live off of a passing income of 20% interest. And there’s no thought as to where the returns come from.
Delusional would be putting it nicely.
@thefinn said:
I can’t believe the casino mentality that permeates cryptos. Either the buyers want to get rich at the detriment of others, or think they can live off of a passing income of 20% interest. And there’s no thought as to where the returns come from.
Delusional would be putting it nicely.
Cryptos are just another Ponzi scheme that will eventually collapse. Future financial historians will be saying "What in the hell were they thinking?" Tulip bulbs anyone?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Dollars are so material…. Wouldn’t one rather have digital tokens instead anyway?
Well, I guess this thread IS about the price targets (in Dollars) of Bitcoin , which Today per coin is trading around 29k so does anyone care to speculate wildly on the price
a week from now?
a Month?
End of Year?
@LukeMarshall said:
Dollars are so material…. Wouldn’t one rather have digital tokens instead anyway?
Well, I guess this thread IS about the price targets (in Dollars) of Bitcoin , which Today per coin is trading around 29k so does anyone care to speculate wildly on the price
a week from now?
a Month?
End of Year?
cryptos are following the same path (dash to cash in times of uncertainty) as are most assets as the FED tightens. Theses dashes to cash are temporary, especially when inflation is destroying purchasing power more rapidly. This cash will not stay on the sidelines long once speculators see a move up in the assets they prefer. Investor behavior is currently completely under the control of the FED. If the FED balks on its tightening policy look for most assets to respond positively and quickly.
While BTC and ETH may not have hit bottom they are close enough for me. I'm going back in, anyone else?
BTC is currently @ $28,967 and ETH is currently @ $1,782 (5/28 5 PM).
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Will do, and have for over 79 years. Lots of doomsayers along with self made so called investment gurus, have come & gone during that time. Hope you don't loose your shirt with the crypto garbage.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
@OPA said:
Not me...I don't participate in "Ponzi Schemes."
The dollars in your wallet are the biggest ponzi ever.
It's insane that I want to agree with you but unfortunately the rest of the "modern" world does not. If it ever comes to roost guess i'm somewhat insured. Hope everyone here has more than just $$$ and gutter metal. RGDS!
Edit: PS:: I bought more BTC and ETH late this week. Even some SHIB.......Looks like I'm finally a billionaire is something. LOL!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
@OPA said:
Not me...I don't participate in "Ponzi Schemes."
The dollars in your wallet are the biggest ponzi ever.
A ponzi scheme... perhaps. But backed by the US Government and military. For how long, who knows? All ponzi schemes eventually go bust, and fiat currencies tend to devalue into .... oblivion eventually as far as I can tell.
Will do, and have for over 79 years. Lots of doomsayers along with self made so called investment gurus, have come & gone during that time. Hope you don't loose your shirt with the crypto garbage.
at least one thing is consistent: loss of purchasing power holding dollars. My wife has a $200K inheritance sitting in a money market. She will not listen to turning it into something that avoids the loss of purchasing power. I was able to convince her to divert the rest of it into a mortgage for our son. He pays her interest (via a promissary note) greater than the money market and less than current mortgage market rates. Unfortunately for her but fortunately for him they locked into a rate when rates were low. In reality his loan is a temporary advance on his inheritance. They both have clear title to the home and they both come out ahead.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@OPA said:
Not me...I don't participate in "Ponzi Schemes."
The dollars in your wallet are the biggest ponzi ever.
A ponzi scheme... perhaps. But backed by the US Government and military. For how long, who knows? All ponzi schemes eventually go bust, and fiat currencies tend to devalue into .... oblivion eventually as far as I can tell.
Ponzi schemes can last as long as there is new people and new money coming in.
We have a debt-based financial system. New dollars are essentially created when a person takes on debt. So every dollar is basically borrowed into existence. But, there is interest due with this arrangement. Where does the money come from to pay that interest ? It comes from people taking on more debt. Over time, the total amount of debt (government, municipal, corporate, and household) continually increases.
But the human population can not grow forever. Eventually, nature will push back in the form of "environmental resistance". Scarcity of resources and pandemics such as Covid-19 are examples of this resistance.
So what happens when the population levels off (or declines), and there are not as many people available to take on debt ? The outcome is one or more of: wide-spread cascading debt defaults (which is unpalatable for the creditor class); and/or interest rates decline to near zero or even negative; and/or currency devaluation by printing new money without new debt associated with it (also known as "inflation").
For the financial ponzi system, the population and economy must grow at all costs. This is one reason why there is a lot of talk about immigration reform and limiting illegal immigration. But the talk is mostly window dressing and nothing significant or permanent is really done because that would go against economic growth.
At one time we had a gold standard and lending and borrowing were relatively limited. But leading up to the Great Depression there was more and more borrowing, and more and more promises to pay back in gold were made. This period was known as the "Roaring Twenties". But when the existing gold became vastly over-subscribed the debt structures collapsed.
Today, there is no gold standard to hinder money creation. So expect more currency dilution to come. The Federal Reserve has implied that they will raise interest rates significantly to fight inflation. But higher interest rates, combined with lower population growth will not work out so well for the general debt-based financial system. The Federal Reserve may have to curtail interest rate hikes sooner than generally believed. Demographics is often overlooked but it is the most powerful force in economics.
One should not invest/speculate while one owes high interest debt (pay it off). One should definitely not incur high interest dept to invest/speculate. Got what they deserved. They likely bought mine at the top. I just bought it back from them at a low.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Comments
The world runs on (diminishing) trust.
We are witnessing a shift in global trust, setting the table for a new global monetary order.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
crypto on the move?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
IMO, no. BTC and ETH are range bound. And most of the rest of the crypto world is much worse off, down 25-50% ytd. Despite the huge advertising blitz, cheerleading from CNBC, etc., cryptos have gone sideways or down. Add the fact that the fed balance sheet is still growing until May (supposedly QE will end then), and the threat of interest rate hikes at upcoming fed meetings throughout the year, there is no obvious catalyst for crypto prices to rise. I've been able to convince a couple friends/relatives to load up on I series bonds though. What do you think, other than the fed abandoning interest rate hikes and balance sheet reduction, almost before it starts, as resulting in BTC and/or ETH climbing anywhere near ATHs?
Cryptos are currently following equity price direction. They will divorce with the next swan, color unknown.
Apparently a lot of speculators are moving to cash. Look for major price moves in cryptos and PMs when it is realized that cash, in a highly inflationary environment, is a zero sum game.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
_ Look for major price moves in cryptos and PMs when it is realized that cash, in a highly inflationary environment, is a zero sum game._
I'd call it a negative proposition in a win-lose game.
I knew it would happen.
@derryb,
You still holding a position in UVXY?
The markets churning....down 2% up 2% down 2% doesn't help. I bought SPXU <$14 2 weeks ago, would like to see 3 big down days in a row and get out, lol. Otherwise, max pain for most.
not for quite a while. Put in ETH, down ever since.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Anyone buying the dips? Stablecoins? MicroStrategy?
Most Fascinating Occurrence in the Cryptosphere this last year has been Terra Luna.
I have only been watching its meteoric rise from under a dollar to over $100... so no positions.
What's really interesting is its tied to a decentralized stablecoin UST that holds a peg to the dollar 1:1
Generally speaking As more UST is created , more LUNA is burned which reduces luna supply, and if demand comes in, Luna price go up)
Luna is traded in a place called terrastation and There are a lot of ways to lend out your crypto, stake it, or high yield saving account type stuff to get yields which is interesting to me.
Well, lots of theories flying around about a specific attack, some say orchestrated by Hedge funds blackrock and citadel -
Somehow the 1:1 peg broke, and it caused a reverse effect, with LUNAs being created to try and reestablish the peg.
As a result, the $100 crypto (a few weeks ago) is back to a $1 crypto today, with trust shattered as well as the savings of those "LUNAtics"
However you feel about crypto, dollars or Precious metals, some tough lessons were dished out today.
In that spirit, here are some stupid sayings that maybe put a smile on someones face.
A day late and a dollar short
Its only money
You cant take it with you
A penny saved is a penny earned
Cash is King
If I had a Nickel
Easy come, Easy go
caveat emptor
It's all about what the people want...
Knowledge is the enemy of fear
@cohodk,
The same sentiment should be applied to US stocks, no? Biggest difference is that there is no way to reasonably value crypto currencies, so it may be easier to mock hodlers. But historically, stocks have been valued based on earnings, dividends, etc., with a share price to trailing annual earnings of around 15. In recent years valuations have tended to extreme highs. If the Fed were to ultimately do what it is threatening (normalize interest rates, reduce balance sheet), the S&P 500 would need to fall 25% further just to reach the median historical PE ratio. Considering that crashing markets tend to overshoot, a bottoming S&P 500 PE of 10 might be reasonable, which would mean the index falls below 2000. And, that is assuming that earnings don't fall.
coho, volatility is good for those that know how to use it. Your buy and hold method is so . . . 80's.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Says the guy who says stack on forever. Lol
And...the Simpsons have been around since the 80s.....so.
Since youre feeling nostalgic, i found your theme song from 1995.
Watch "Metallica - King Nothing" on YouTube
https://youtu.be/oFBbOHohwR8
Knowledge is the enemy of fear
lesson repeat: physical is for stacking, paper is for trading. Trading involves buying AND selling. lol
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Says the guy who has repeatedly reviled traders.
Where your crown?
Knowledge is the enemy of fear
and this is based on what assumption?
distort, distract, wash, rinse, repeat. Same MO, different day. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Terra Luna Crypto down to 1c today and the blockchain was officially halted.
SEC chairperson Gary G. said they want to regulate cryptos like securities, well the ones that meet a similar criteria as securities.
Decentralized Ledgers that didnt have an ICO and are mined over time (like bitcoin) do not fall under the language, but Centralized cryptos like Ripple, Etherum, Solana and a lot of others will.
Will be interesting to see the next stage of the crypto evolution.
Be careful out there...
It's all about what the people want...
@LukeMarshall ,
Do you see any scenarios where cryptocurrency contagion spills over into the financial markets? Would be interesting if the stablecoins were bailed out just like money market funds were when they broke the buck a few years back.
Hmmmm, interesting observation...
The biggest stablecoins today have to be
USDT - Tether
and
USDC - USD coin
I have heard stories that the "reserves" that Tether holds are not fully audited and that a melt down there could spill over into the crypto market.
The concept of terraLUNA and the UST came later, and was based in part on the tether model, but with a decentralized feature. UST getting wiped out causing Billions in losses caused huge disruptions in the crypto market, and I can only imagine what a destabilization of tether would do.
That being said, the tether peg to the dollar (1:1) did fall today to 95c briefly in what could be considered an attack on a smaller scale, but I think tether is orders of magnitude bigger and have some more tools in their arsenal.
Also, since the stablecoin tether is created and destroyed by a centralized authority, it could absolutely fall under the SECs definition of a security, even though its purpose is to act as a currency unit - but its still a crypto.
Maybe in the future if Gensler wants to regulate stablecoins they could offer something like FDIC for a certain amount incase of the unexpected peg break and plunge. Perhaps when they release "Fedcoin" they will have better structure around the regulating of stablecoins... maybe they attack as many others as possible in a hope to corral everyone into their Central Bank Digital Currency with the protection that your dollars could be keystroked back into existence in the unfortunate event of a unfortunate event.
Oh and to answer your other question , I think contagion has leaked into all the markets already... judging by the accelerated declining slide in everything PMs, stocks, and Cryptos - in the face of "record inflation" (isn't gold supposed to go up with inflation?? ) But maybe its just the old "sell in May and go away" lets check back in November
Seems to me like the only people making money in this environment are those members of congress that invested in Military Support companies last year before voting to send aide halfway around the world in the form of stinger & javelin missiles thus increasing business & share price of those companies all the while increasing taxpayer funded death counts each time one of those shiny missiles blows up on target...
I heard there is a monster box worth of silver in the blasting cap on those things... (gotta keep it PM related ya know
)
It's all about what the people want...
Heard 60% of crypto holders also own Tesla.
" judging by the accelerated declining slide in everything PMs, stocks, and Cryptos - in the face of "record inflation" (isn't gold supposed to go up with inflation?? ) "
From what I recall from past market declines, gold follows suit (dropping) initially due to investors having to sell assets like gold (a desirable asset easy to convert) to meet any market losses they have to cover.
Typically one would hope the gold price would then strengthen as more invest into it to hold value. But things are so convoluted now... who can predict? I sure can't.
Yes like in 2008 market meltdown, gold and silver bottomed something like $900 and $8 but there wasn't a lot for sale for the short time at that price as everything had premiums. Looking back it didn't take long for Gold and Silver to come back strong making highs a couple years later.
Crypto is competing for market share against traditional assets like Gold for sure, and there are a lot of younger investors in the markets now that want the huge swings that crypto present and the allure of getting rich quick. Thing is it goes both ways, when the entire perceived value of your crypto (in the case of LUNA) is wiped out in a few short days.
Which makes the case for Gold... and more ridiculous idioms
Possession is 9/10ths of the law
if you dont hold it, you dont own it
its worth its weight in Gold
Go for the Gold
its as good as gold
welcome to the Golden Age
only gold is money (JPM)
It's all about what the people want...
"Sitting on a Gold Mine" sounds better than "Sitting on a Crypto Mine".
COIN looks like a buy
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
by, buy, bye
The market, she do take a bite, don’t she?!
The Dow Jones Industrial Average headed for its biggest loss since 2020 on Wednesday after another major retailer warned of rising cost pressures, confirming investors’ worst fears over rising inflation and rekindling the brutal 2022 sell-off.
The Dow shed 1,255 points, or 3.8%, or the average’s biggest decline since October 2020. The S&P 500 traded 4.3% lower, the biggest drop since June 2020. The Nasdaq Composite slipped 4.9%, the largest fall in the tech-heavy index since May 5. The selling was broad and intense on Wall Street with just 13 members of the S&P 500 in the green.
Cryptos gaining this evening, as usual following the DOW (DOW futures for a Sunday).
I'm wondering if and when they will divorce themselves from equities. Probably take a black swan event.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
When I learned there were 250 different brands of cryptocurrencies I thought that was nuts but now I see there are 19,000!
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
Unless you’re the guy selling them electricity.
I can’t believe the casino mentality that permeates cryptos. Either the buyers want to get rich at the detriment of others, or think they can live off of a passing income of 20% interest. And there’s no thought as to where the returns come from.
Delusional would be putting it nicely.
Cryptos are just another Ponzi scheme that will eventually collapse. Future financial historians will be saying "What in the hell were they thinking?" Tulip bulbs anyone?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
one man's loss is another man's gain
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
What does a man profit if he gains the entire world, but looses himself In The process…
It's all about what the people want...
dollars
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Dollars are so material…. Wouldn’t one rather have digital tokens instead anyway?
Well, I guess this thread IS about the price targets (in Dollars) of Bitcoin , which Today per coin is trading around 29k so does anyone care to speculate wildly on the price
a week from now?
a Month?
End of Year?
It's all about what the people want...
JP Morgan Says Buy Bitcoin, Sell Stocks
Why? because they can keep your trading business in house. They lose your business if you move to PMs.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Typical zerohedge tabloid headline taken out of context.
Read what actually happened....small potatoes...
https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/
Eight months ago this financial manager predicted that Bitcoin would rise to $100,000 two months ago:
https://kitco.com/news/2021-08-26/Bitcoin-to-hit-100k-in-6-months-but-this-sector-could-go-parabolic-and-beat-it-Florian-Grummes.html
Personally, I have no position in Bitcoin or any "crypto-currency".
I have no basis on which to formulate a wild speculation on the Bitcoin price.
So here it is:
One week (02 June): $28,200
One month (01 July): $31,100
End of year (31 December): $17,600
cryptos are following the same path (dash to cash in times of uncertainty) as are most assets as the FED tightens. Theses dashes to cash are temporary, especially when inflation is destroying purchasing power more rapidly. This cash will not stay on the sidelines long once speculators see a move up in the assets they prefer. Investor behavior is currently completely under the control of the FED. If the FED balks on its tightening policy look for most assets to respond positively and quickly.
While BTC and ETH may not have hit bottom they are close enough for me. I'm going back in, anyone else?
BTC is currently @ $28,967 and ETH is currently @ $1,782 (5/28 5 PM).
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Not me...I don't participate in "Ponzi Schemes."
The dollars in your wallet are the biggest ponzi ever.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Yup....all those dollars in my pocket are a better investment that fiat crypto scatology
Keep the faith. LOL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Will do, and have for over 79 years. Lots of doomsayers along with self made so called investment gurus, have come & gone during that time. Hope you don't loose your shirt with the crypto garbage.
It's insane that I want to agree with you but unfortunately the rest of the "modern" world does not. If it ever comes to roost guess i'm somewhat insured. Hope everyone here has more than just $$$ and gutter metal. RGDS!
Edit: PS:: I bought more BTC and ETH late this week. Even some SHIB.......Looks like I'm finally a billionaire is something. LOL!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
A ponzi scheme... perhaps. But backed by the US Government and military. For how long, who knows? All ponzi schemes eventually go bust, and fiat currencies tend to devalue into .... oblivion eventually as far as I can tell.
at least one thing is consistent: loss of purchasing power holding dollars. My wife has a $200K inheritance sitting in a money market. She will not listen to turning it into something that avoids the loss of purchasing power. I was able to convince her to divert the rest of it into a mortgage for our son. He pays her interest (via a promissary note) greater than the money market and less than current mortgage market rates. Unfortunately for her but fortunately for him they locked into a rate when rates were low. In reality his loan is a temporary advance on his inheritance. They both have clear title to the home and they both come out ahead.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Ponzi schemes can last as long as there is new people and new money coming in.
We have a debt-based financial system. New dollars are essentially created when a person takes on debt. So every dollar is basically borrowed into existence. But, there is interest due with this arrangement. Where does the money come from to pay that interest ? It comes from people taking on more debt. Over time, the total amount of debt (government, municipal, corporate, and household) continually increases.
But the human population can not grow forever. Eventually, nature will push back in the form of "environmental resistance". Scarcity of resources and pandemics such as Covid-19 are examples of this resistance.
So what happens when the population levels off (or declines), and there are not as many people available to take on debt ? The outcome is one or more of: wide-spread cascading debt defaults (which is unpalatable for the creditor class); and/or interest rates decline to near zero or even negative; and/or currency devaluation by printing new money without new debt associated with it (also known as "inflation").
For the financial ponzi system, the population and economy must grow at all costs. This is one reason why there is a lot of talk about immigration reform and limiting illegal immigration. But the talk is mostly window dressing and nothing significant or permanent is really done because that would go against economic growth.
At one time we had a gold standard and lending and borrowing were relatively limited. But leading up to the Great Depression there was more and more borrowing, and more and more promises to pay back in gold were made. This period was known as the "Roaring Twenties". But when the existing gold became vastly over-subscribed the debt structures collapsed.
Today, there is no gold standard to hinder money creation. So expect more currency dilution to come. The Federal Reserve has implied that they will raise interest rates significantly to fight inflation. But higher interest rates, combined with lower population growth will not work out so well for the general debt-based financial system. The Federal Reserve may have to curtail interest rate hikes sooner than generally believed. Demographics is often overlooked but it is the most powerful force in economics.
Investors: 60% Used Borrowed Funds to Buy Their Now-Crashed Coins
https://beincrypto.com/investors-60-used-borrowed-funds-to-buy-their-now-crashed-coins/
One should not invest/speculate while one owes high interest debt (pay it off). One should definitely not incur high interest dept to invest/speculate. Got what they deserved. They likely bought mine at the top. I just bought it back from them at a low.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong