Europe Is Trapping Itself Through Monetary Manipulation

Europe Is Trapping Itself Through Monetary Manipulation

There’s a lot of news flying around about the changes happening in global currency trading. From “Gas for Rubles” to “What the Hell is Going on With the Yen?” there are a lot of questions and very few answers as to what it all means and whose on which side of the divide. The Fed just hiked 50 basis points for the first time since 2000 and will be running off its balance sheet forcing the Treasury to stop issuing new debt at stupid rates. The European Union unveiled a sixth sanctions package against Russia which calls for a complete embargo of all Russian oil. Further to this the EU is now...

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Novak Djokovic Is All of Our Future

Novak Djokovic Is All of Our Future

When I’ve talked in the past about the patchwork tyranny post COVID-9/11, I had more mundane things in mind than the fate of a major tennis star. Novak Djokovic was deported from Australia on Sunday after his appeal to reinstate his visa failed. And it failed not for health reasons but for political ones. To me, the kinds of terrible rules put in place for ‘public safety’ always conjure up images of casual oppression. Endless videos of pathetic public servants intimidating priests in churches or police arresting pub owners for serving willing patrons. But it goes far deeper than that. It’s...

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Will COVID Lockdowns Make 2022 the Year of Bitcoin?

Will COVID Lockdowns Make 2022 the Year of Bitcoin?

I don’t necessarily like to do so-called ‘annual prediction’ posts. Having written a ton of them for the newsletters I’ve written over the years, looking back on them is always a bit cringe-inducing. But 2021 was a crazy year and one where so much happened that changed the landscape it looks like one of those necessary evils for 2022. In fact, I may wind up doing more than I normally do. After being on Bitcoin Magazine’s Fed Watch podcast in December, I was asked to do a 2022 Predictions article for them. It just dropped over there. Is 2022 the Year Bitcoin Proves Itself on the World Stage?...

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Lunatic With a Plan: Erdogan and Turkey’s Economic Woes

Lunatic With a Plan: Erdogan and Turkey’s Economic Woes

Since the first assault on Turkey’s finances in 2018, which I wrote about multiple times (here, here, and here), I’ve been the lone voice telling everyone that President Recep Tayyip Erdogan is a lunatic but he’s a lunatic with a plan. That plan is to de-dollarize the economy of a valuable member of NATO geostrategically. Since the first shots across the bow by the Trump administration at Erdogan’s toying with those powers east of the Bosporus (Russia, China and Iran) the Turkish lira has been the primary mode of attack against Erdogan. Erdogan has pursued what has been deemed unorthodox...

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Wall Street Is Setting a Trap For Bitcoin Buyers

Wall Street Is Setting a Trap For Bitcoin Buyers

So Tuesday October 19th, 2021 was supposed to be the day that changed everything for bitcoin. And it may, just not in ways anyone bullish on crypto should be comfortable with. Finally the SEC approved a Bitcoin ETF, the ProShares Bitcoin Futures ETF (BITO) began trading this week to great fanfare in the cryptocurrency community. There was much rejoicing as Bitcoin hit a new all-time high which it has since given back. On the heels of that announcement Valkyrie changed the proposed ticker symbol for its Bitcoin Strategies ETF, another futures-based product, to BTFD. Gotta love the cheek,...

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Bitcoin is King

Bitcoin is King

Bitcoin is winning. Period. In fact, it may have already won and the people arrayed against it, no matter how powerful, are finally beginning to realize this. This week saw a slew of major announcements which all point in this direction. Of course the big news was Elon Musk’s announcement of Tesla Corp. having a $1.5 billion position in bitcoin. But that news came on the heels of a lot of other news, like VISA saying it was ready to embrace bitcoin to help banks build crypto-payment and trading services. VISA-backed debit cards have been around for a while now, like BitPay’s offering, but...

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Bitcoin is King

Bitcoin vs. Wall Street

The big worry among the bitcoin perma-bears is the threat of government ‘making it illegal.’ The latest bogeyman on this front is none other than U.S. Treasury Secretary Steve Mnuchin. Rumors float that he’s considering outlawing ‘self-custody wallets,’ in effect confiscating the private keys of everyone’s cryptos. In a Twitter-thread, the chief executive [of Coinbase Brian Armstrong] said that his firm “heard rumors” about the US Treasury Secretary Steven Mnuchin’s plans to introduce fresh rules for “self-custody wallets” by the end of his term. The open nature of cryptocurrencies allows...

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Bitcoin is Unbeatable

Bitcoin is Unbeatable

Bitcoin and cryptocurrencies are headline news again. DeFi—Decentralized Finance—tokens like LINK and others have exploded in recent weeks, capturing speculators’ imaginations. But more importantly, given the day-to-day fragility of the capital markets and the political reality they reflect, governments are scrutinizing cryptocurrencies harder. From the U.S. to China to Russia, governments are drafting laws and rewriting rules to disadvantage the use of cryptocurrencies. This is the main argument against them by hard money advocates and others who maintain that all that has to happen to...

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