The current tax legislation isn’t some thoughtful reform to benefit Americans. It’s a quickly planned looting through a broken window in our nation’s character. - John Hussman
John Hussman wrote a must-read essay titled: "Three Delusions: Paper Wealth, A Booming Economy and Bitcoin (link)." The crypto/blockchain delusion has exceeded the absurdity of the dot.com and housing bubble eras. I was shorting fraud stocks happily in both eras. I'm short a company now called Riot Blockchain. If you look at its description in Yahoo Finance, it bills itself as a developer of technologies applied to animal ("non-human") medicine. It recently changed its name to Riot Blockchain from Bioptix Inc. Prior to calling itself Bioptic Inc, it called itself Venaxis. Just the name change to Riot "Blockchain" moved the stock from $4 to $40...insanity.
The Company changed its name in early October to Riot Blockchain. Based on this, Canaccord was more than happy to fleece investors by raising $37 million for Riot in a private placement. But that's okay I guess because one has to be a "sophisticated" investor with the financial qualifications to have your money taken from you by Wall Street and Bay Street in order to invest in private placements.
Fundamentally this system is dissolving. The Government economic data, like GDP, CPI and employment is worthless. The numbers produced by the Government are rigged to support political propaganda about the economy and the financial system. Economic reports released by the private sector generally contradict the Government's reports.
Silver Doctors invited me to participate in their weekly Metals & Markets podcast. We chatted about gold, cryptocurrencies and the economy. Gold is currently the only asset that has not participated in this "Irrational Exuberance 2.0." Of course, gold ran from $250 to $1900 from 2001 to 2011. We discuss why now is time to move investment funds back into gold for its next cyclical bull move in the context of a much bigger secular bull market in real money:
If you are interested in finding junior mining stock ideas, as well as relative value trade ideas in larger cap mining stocks, click here to learn more about the Mining Stock Journal. New subscribers get a copy of all of the back-issues with their subscription.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.tijarahnet.com/2017/12/19/gold-the-economy-cryptocurrencies-and-irrational-exuberance/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit