And whoever else I missed that have terrific viewpoints on economics, finance, etc.
What do you think...
Cryptocurrency
What do you think...
Cryptocurrency
Clob/Nueces...
- Thread starter weevilcatch
- Start date
I’m no financial expert but it looks obvious that she’s doing everything she can to keep the dollar from being further weakened. Especially since they plan to spend trillions in new stimulus while interest rates are still low. Promoting Bitcoin wouldn’t help the dollar. Of course, printing trillions of new dollars will also devalue the dollar by spurring inflation.
True. But then Gresham's law comes into play. Greshsm's law is basically this-- if you have different currency floating around in the economy, people are going to hoard the currency that they deem most valuable, thus removing it from the flow of commerce, which in turn helps keep it's value up.
I'll give you an example-
Did you know that Ecaudor doesn't have its own currency? Nope. It uses the US dollar. We don't print money for Ecuadorian use, but they use it anyway. Most third world countries WANT you to spend dollars in their establishment. Angola has the Kwanza, but banking transactions are done in US dollars, the Euro, and Pound Sterling.
Cryptocurrency is simply a way to tell the World Bank and the IMF to go fvck themselves. It's a work around. Nobody backs the note. Nobody guarantees it. And yes-- drug dealers, arms dealers, slave traffickers use it because, well, a million bucks in 100 dollars bills weighs about 22 pounds.
22.046 pounds; you are not accounting for the cocaine and other residue on the bills 😁
Bitcoin and other cryptos aren't going away, It is barely getting started. IMO. NYSE owned by ICE, Goldman, JP Morgan and many more have been developing their cryptocurrency, aka digital assets, infrastructure for some time now. Heck, you can even buy Bitcoin/digital asset funds on TDameritrade and other exchanges. I wouldn't fall for the drug dealer thing. Serious billionaire investors and hedge funds like Microstrategy, Paul Tudor Jones, Yale Endowment, Jack Dorsey... are all investing in it because the technology is innovative.
Here is the cliche: The first internet boom in the 90s was the internet of information and now we are supposedly moving into the fourth industrial revolution-which is the digital world. The "Internet of Value" where this technology allows for value to be transferred instantly and settled instantly like an email.
Here is the cliche: The first internet boom in the 90s was the internet of information and now we are supposedly moving into the fourth industrial revolution-which is the digital world. The "Internet of Value" where this technology allows for value to be transferred instantly and settled instantly like an email.
Bitcoin is the beta test for a government/fed blockchain currency. They are going to whack it. Will it still have value? Yes, but it is going to be ruled illegal because of money laundering. Don't misunderstand, I hate centralized fiat currency. There may be another point where bitcoin breaks it's current high in the near future and that would be my exit point. It may have already peaked, idk. It's currently correcting violently. I don't do blockchain currencies. I have a trend trading algorithm that leverages 1% risk trades on the big 6 currency daily timeframes. I'm not into buy and hold.
Blockchain is the future. It won't be through bitcoin. It will be a controlled currency.
Blockchain is the future. It won't be through bitcoin. It will be a controlled currency.
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Btw, Biden is releasing his new taxation wish list and it's very destructive for FANG. They are hitting large revenue businesses like Amazon at a time when individuals cann create small competeing online stores on their own. I was wondering what might cause the market to top in april or so and send the markets into a 4 year consolidation. Now i know.
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I agree that BTC won’t replace any currency as a day to day because it is too slow. It is a store of value like gold. Btw, every BTC transaction is on the public ledger, so, I don’t get the money laundering fear. You should google how many trillions in money laundering bank fines have occurred over the years (at top banks, no less). I guess laundering money should be left to the experts? These other digital assets are expected to tokenize everything from the stock market to currencies all over the world. That is pretty bullish
Agree. If there is a pathway for conservative states, it will be to replace the dollar with our own blockchain currency. The first step away from US statist authoritarianism will be a new currency.
The large banks are the genesis of the evil in our world.
Here is an interesting article of some prominent universities quietly buying and accumulating crypto for over a year. Bank of America also opened up about a partnership with Ripple a few months ago and has 50 blockchain related patents. Don't listen to what these whales say, watch what they do.
www.coindesk.com
Harvard, Yale, Brown Endowments Have Been Buying Bitcoin for at Least a Year: Sources
University endowments that backed blockchain VCs in 2018 have started buying crypto directly from Coinbase.
r/wallstreetbets is going to hit SLV shortly. This will be massive if they are able to break the bullion banks which are massively short paper silver. This is going to be good! I may have to scrape together some sheckles and join in the fun.
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I have GME long ... it’s fun right now taking it to the shorts and seeing the hedge funds scramble to get their hands on stock to coverr/wallstreetbets is going to hit SLV shortly. This will be massive if they are able to break the bullion banks which are massively short paper silver. This is going to be good! I may have to scrape together some sheckles and join in the fun.
r/wallstreetbets is going to hit SLV shortly. This will be massive if they are able to break the bullion banks which are massively short paper silver. This is going to be good! I may have to scrape together some sheckles and join in the fun.
Interesting observation/notification. I like holding metals. Since this would obviously create a short term "bubble" for silver (it's already up over a buck twenty today), what would you consider to be a good sell price?
I would assume a person could get back in in a month or two for prices in the mid twenties.
Thoughts?
I would sell when there is a real rumor of a blockchain currency coming online right after all government debts have been paid which will be never.
Edit: A thought, you may be able to take a loan against your bullion at the new Texas repository.... any likely appreciation would pay off your loan and you retake possession without having to sell.
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3 years ago I invested $25k to mine crypto (my son was the actual brain child). Through the next two years we captured over 4 BTC and over 1000 shares of ETH before our hardware technology became obsolete (or much slower compared to newer). Trade today at current value do the math. I’m not an economist but I think this bet paid off nicely.
@2300 Nueces ,
I am not understanding the Gamestop run-up hit on Wall Street. Have you kept up with that and can you explain what that is all about?
I am not understanding the Gamestop run-up hit on Wall Street. Have you kept up with that and can you explain what that is all about?
In what world would you ever imagine AOC, DT jr, Ted Cruz and the Winklevoss twins all on the same page?
Large Hedge fund investors borrowed large sums of GameStop stock from current GameStop investors at whatever the market value was at that time. They sold the stock and used the proceeds to invest in other stocks. They then pay back the GameStop shares to the original investors after the GameStop stock price falls. They profit the difference between the value of the stock when it was borrowed high and sold low. They bet on the stock selling “short”. The more the stock price drops the more profit the hedge fund makes. This is all done without using any of their own money.
Now it cuts both ways. If the stock price increases then the hedge fund is still obligated to return the full number of shares borrowed from the original investors at today’s current market price. When this happens the hedge fund is in a short squeeze and loses big time and may have to declare bankruptcy.
The GameStop stock price has been artificially inflated by a large group of small retail investors (regular Joe’s like us) who are members of Reddit forum called “wallstreetbets”. There are over a million members in the group and they have strategized to buy up all the GameStop stock and holding it indefinitely which drives up the price significantly. The group has literally bought all of the available shares. There are no more shares to buy unless some of them decide to sell.
There’s nothing illegal with what these Reddit investors are doing. At some point they will need to sell since the current trajectory of the stock price isn’t sustainable. So many of them will ultimately lose money too. Many of them have profited handsomely as well.
The issue this has raised is that small investors have screwed over large hedge fund investors and some of the trading platforms have halted further retail trades while still allowing hedge funds to trade freely. Very unfair if you ask me.
Robinhood restricted the Reddit traders for a while. Even Schwab and TD Waterhouse were unstable throughout the day. Schwab would be down for 10 minutes, then when it came back up miraculously GME had gone down 20%. Protecting the big money shorts. Almost like the Dominion voting machines! Big swings while the systems were down.
It's being discussed that many of the hedge funds have been naked short selling many stocks. Meaning they are not actually taking possession initially to sell. This is being done hypothetically because they can't find enough stock to short for their liking. As you stated, they take the proceeds from the hypothetically shorted stock and speculate elsewhere. This crap is blowing up in their faces and it's about time. This is a perfect time for the banks to tank the market to distract from the obvious illegal manipulation and skin the short squeezers. FYI, these are the same people buying elections right before our eyes. The central banks run the world. When they can print currency from thin air and loan at interest, they run the show.
Be careful here. When the magician thinks you are on to his trick, he creates a distraction to pull eyes away from the deception. Tanking the market here accomplishes much.
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Very. And it's funny when the little guys fvck the big hedge fund guys right in the ass and then the hedge fund guys run off the DC to get their rented senators and congressmen to change the rules to help out the hedge fund guys, instead of the small investors.
Now I ask you-- whose side are these fvcking scum bag politicians on?
As most of us know, these large institutional investors are 95% in the swamp with the Democratic political establishment. These guys are part of the elite cabal of king makers in both business and politics on a multinational worldwide scale. Scumbags like George Soros come to mind. These are the kind of people we’re talking about. You will very rarely find a constitutional conservative that runs a hedge fund. They view everyday retail investors as backward low class dimwits who have no business playing their game. Much the same mindset as most Democratic politicians who freak out about a novice political outsider actually running the country (Trump). I hope these Reddit investors continue to stick it to them by holding their stocks and refusing to sell. This could actually lead to a whole new uprising in our country. Similar to the tea party or Occupy Wall Street. Just think if everyone in the country just buys one share of these stocks targeted by hedge funds. That would destroy the hedge fund business and put a lot of Wall Street banks out of business. Instead of initiating change by voting, people will begin initiating change through their pocketbooks. Many people no longer trust that their vote will actually count so they’re desperate to drive change in a real and meaningful way. The beauty of this is that this is all 100% legal. Pure capitalism. There’s winners and losers. This time the common man is the winner instead of the large swamp monsters. Of course, the new President and establishment Democrats will be looking for ways to get the rules changed to protect their mega donors who all run these hedge funds. There’s no reason to change any rules or create new regulations. This is definitely something to keep an eye on.
I guarantee you they drop the hammer on people doing this via the internet. Chat rooms like Reddit and the Q will be deplatformed. They want total control over you and your investment abilities. Rules for thee and not for me. Only a reckoning will fix this.
Was gonna say the same thing. Hope people keep paying attention because all these dipshit politicians that have run their heads about taking care of poor and middle class are up against it.
Love it. Oh and uh, the White House is “looking into it”
No. That dumb twit press lady said they would "circle back" to it.
s
The consortium that appointed Biden needs to be consulted, so no surprise there.
Question from a guy who knows just enough to lose money: Is my money safe at Robinhood? This morning they drew down a billion dollars on their line of credit. Which seemed like a panic move, until I read this:
But Robinhood also reportedly makes a decent bit off of trades in other ways - including making money off of orders.
According to the Wall Street Journal in late 2018, "If a customer buys 100 shares of Apple for $200 each - a $20,000 purchase - Robinhood could get up to $5.20 for routing that order to electronic-trading giant Citadel Securities LLC, according to calculations based on a recent Securities and Exchange Commission filing," the article reads. According to The Journal's analysis of SEC filings, that's compared to some 9 cents that Schwab (SCHW) - Get Report would make for the order and 16 cents that TD Ameritrade would make.
So it appears that Robinhood is just a cog in the establishment instead of some startup revolutionizing/democratizing investing. They are getting some bad press for holding up trades yesterday - the Reddit bros. have turned on them, and if they depend on volume to make money - could they be in trouble? And if so, are my investments safe with them?
But Robinhood also reportedly makes a decent bit off of trades in other ways - including making money off of orders.
According to the Wall Street Journal in late 2018, "If a customer buys 100 shares of Apple for $200 each - a $20,000 purchase - Robinhood could get up to $5.20 for routing that order to electronic-trading giant Citadel Securities LLC, according to calculations based on a recent Securities and Exchange Commission filing," the article reads. According to The Journal's analysis of SEC filings, that's compared to some 9 cents that Schwab (SCHW) - Get Report would make for the order and 16 cents that TD Ameritrade would make.
So it appears that Robinhood is just a cog in the establishment instead of some startup revolutionizing/democratizing investing. They are getting some bad press for holding up trades yesterday - the Reddit bros. have turned on them, and if they depend on volume to make money - could they be in trouble? And if so, are my investments safe with them?
Don't have much time but I wanted to post this graph for y'all. Lumber prices are a good predictor of inflation/deflation. They lead consumer prices by 1 year. This was one chart I used when I said back in 2017-18 that trouble was incoming..... Now REAL trouble is being signaled. I am not Kreskin but now is the time to prepare. Maybe this is nothing but maybe it's not.
r/wallstreetbets is going to hit SLV shortly. This will be massive if they are able to break the bullion banks which are massively short paper silver. This is going to be good! I may have to scrape together some sheckles and join in the fun.
The gamestop/robinhood crowd may have started moving on silver. APMEX just put out an email explaining an unprecedented demand in silver (up to 12x normal for weekend day) and their drastic increase in premiums to protect them ('21 Silver Eagles currently priced 50% over spot).
That would be interesting. Max Keiser may be a little crazy, but he knows his stuff, has been calling for people to buy physical silver for many many years. He wanted to see JP Morgan have to cover their shorts. Silver currently at $28. This is the highest it has been in years. We never know which one of these efforts will actually cause a cascading cross-default or fire sale disorderly liquidation as Alan Greenspan once said.
