Why The Future Of Cryptocurrency Is Not As It Seems
In a day in which everyone, including the BIS, appears to be talking about cryptocurrencies after last week’s China-induced crash, here is one of the more insightful takes on the future of cryptocurrencies, and how thay fit into the existing/legacy fiat system, courtesy of the latest Sunday note by One River Asset Management’s Eric Peters.
Red Ponzi Update—Beijing Orders No Market Turbulence During National Party Congress
As China’s most important political event in years draws nearer, regulators have made it clear to the nation’s top financiers that they don’t want to see any major turbulence in markets .The China Securities Regulatory Commission has ordered local brokerages to mitigate risks and ensure stable markets before and during the Communist Party’s twice-a-decade leadership congress next month, according to people familiar with the matter. The CSRC has also banned brokerage bosses from taking holidays or leaving the country from Oct. 11 until the congress ends, the people said. The regulator didn’t immediately reply to a faxed request for comment.
Bitcoin and Blockchain: Hype or Fundamental Financial Revolution?
Jamie Dimon, JPMorgan CEO, says Bitcoin is a fraud – likening it to the 17th century tulip bubble – that will eventually blow up. He said he’d fire any trader who traded it.Ron Insana, CNBC contributor, says Bitcoin is in a bubble, with investor enthusiasm driving it to a new fever pitch. He’s cited several reasons why it will fail. Are they right? Is Bitcoin a modern-day tulip bubble leading greedy investors to the slaughter? Well… yes AND no…….And, as a currency, Bitcoin is a fraud – it’s absolutely NOT a currency currently – but the underlying technology (blockchains et al.) will revolutionize the way we protect our personal information and the way we transact.
Pushback To The PC Tyranny
By some miracle, she didn’t end up a professor of Intersectional Gender Justice. Of course, the Social Justice commissars around the country regard her as just another neo-Nazi punk committing violence-through-speech against the ethno-sexual minorities who seek to throw off the shackles of Cis-White Privilege oppression. In an op-ed essay in the Philadelphia Inquirer (co-authored with Larry Alexander of the University of San Diego School of Law) titled Paying the Price for Breakdown of the Country’s Bourgeois Culture, Wax argued that “the single-parent, anti-social habits, prevalent among some working-class whites, the anti ‘acting white’ rap culture of inner-city blacks” and the “anti-assimilation ideas gaining ground among some Hispanic immigrants” is not suited to a First-World 21st Century Environment.
Bear Market Indicator Shows Crash Dead Ahead
At the very same time that Citi was calculating the probability of the next crash, Goldman was doing the exact same analysis, and while we thought Citi’s take of the immediate future was gloomy, Goldman’s is downright apocalyptic because as the bank’s global equities strategist Peter Oppenheimer writes in his recent “Bear Necessities” report, Goldman’s Bear Market Risk Indicator has recently shot up to 67%, prompting Goldman to ask, rhetorically, “should we be worried now?”
Government By Goldman—Gary Cohn Gets From Trump What The Vampire Squid Needs
Trump waved off anyone who might question his decision to rely on the very people he had demonized. “Somebody said, ‘Why did you appoint a rich person to be in charge of the economy?’ … I said: ‘Because that’s the kind of thinking we want.’” He needed “great, brilliant business minds … so the world doesn’t take advantage of us.” How else could he get the job done? “I love all people, rich or poor, but in those particular positions, I just don’t want a poor person.”
Haunting Photos of the Retail Apocalypse Reveal a new Normal in America
The retail apocalypse has descended on America. More than 6,400 stores are expected to close across the country this year. Department stores like Macy’s, Sears, and JCPenney, and retailers including BCBG, Abercrombie & Fitch, and Bebe have decided to close dozens of stores. Walking through a mall in 2017 is like walking through a graveyard.
Erupting Repo Fails And The Hidden Source of the Rising Yuan
To transport these contentions to the CNY context and recent, established collateral problems, if the PBOC is backing CNY with “dollars” on its way up, there are several options for the central bank to obtain them. It’s possible that is the private market growing comfortable with China again, but does anyone really believe that is happening here given what’s really going on over there? To put it in very simple terms, the PBOC could be crowding out the rest of the markets who struggle forward in very limited capacity.
Defense Contractors on Cloud 9—More Money Than Ever Before
The Senate is expected to pass by a wide margin a $700-billion defense bill today. When it comes to extravagant military spending, Congress is relentlessly bipartisan, and all bickering stops, as long as the bacon gets spread to every district and state.
Road To Ruin In The Middle East—-The Saudi Project
But the destruction wrought, the lives taken, the people displaced, the villages/towns/cities/provinces/countries destroyed, the refugee camps created, the misery inflicted, the Israeli occupation ignored, the sectarianism incited … the toll exacted by the failed Saudi Project for the Middle East is incalculable. Remarkably, its success would have been even more catastrophic.
