Bitcoin shows signs of weakness as death cross takes hold
Bitcoin shows signs of weakness as death cross takes hold
Bitcoin Price Chart (BTC) Coinbase
Is Bitcoin Dead?
Death Cross Definition - investopedia.com
Bitcoin "Death Cross" Pattern that Last Crashed Price 55% ...
What A Day: Stitt Down And Shut Up by Sarah Lazarus & Crooked Media (07/15/20)
"If it’s Goya, it has to be good." - Ivanka Trump, violating federal ethics rules
Bean Here Before
With hospitals filling up and businesses shutting back down across wide swaths of the country, the Trump administration seems to have no pandemic strategy beyond sowing confusion and flogging beans.
The U.S. confirmed 67,417 new coronavirus cases on Tuesday, a new daily record. Cases have increased in 41 states over the past two weeks, Texas and Florida each recorded record numbers of coronavirus deaths yesterday, and an influential model now projects a national death toll of 224,000 by November 1.
From here on out, we’ll have to take those updates with a (chunkier) grain of salt. The Trump administration’s move to cut the CDC out of hospital-data collection means that all COVID-19 patient information will be sent to a database that isn’t open to the public. That reporting system is just as cumbersome as the CDC’s and doesn’t solve any of its real problems, but it sure does raise questions about whether researchers, modelers, and health officials will have access to the data they rely on to make projections and public-health decisions. (It also means a multimillion-dollar contract for the private firm TeleTracking, which we look forward to learning is owned by Jared Kushner’s frat brother’s father-in-law or whatever.)
Administration officials have also doubled down on their campaign to publicly discredit Dr. Anthony Fauci. “He has been wrong about everything I have interacted with him on,” wrote White House trade advisor Peter Navarro in a USA Today op-ed, omitting that his favorite expert is literally a guy he made up. White House officials weakly disavowed the op-ed and claimed Navarro went rogue, which is reportedly (you may wanna sit down) a lie. Fauci pushed back on the attacks in an interview with The Atlantic: “I cannot figure out in my wildest dreams why they would want to do that.” An evergreen take.
Meanwhile, life comes at you fast.
Gov. Kevin Stitt (R-OK), who attended President Trump’s rally in Tulsa and rarely wears a mask at public gatherings, has tested positive for coronavirus. “I was pretty shocked that I was the first governor to get it,” said Stitt, calmly reaching both hands towards a hot stove. Stitt has resisted a statewide mask order, and after testing positive said that he’s still "not thinking about a mask mandate at all."
Twenty-five states plus Washington, DC, have now issued mask mandates, with Alabama becoming the latest to do so on Wednesday. Walmart announced that customers will be required to wear masks at all U.S. stores, which could have a ripple effect among other retailers—Kroger has already followed its lead. CDC Director Robert Redfield said on Tuesday that the U.S. could get the pandemic under control within two months if every American wore a mask; that feat would also likely require the federal government to take on a role beyond “hour-long presidential rants in the Rose Garden,” but masks would be a start.
The Trump administration condemned the country to a second surge of infections by refusing to coordinate a national response, leaving even the best state leaders to adopt piecemeal solutions by trial and error. Rather than try a different tack the second time around, Trump has committed to undermining widely trusted health experts and hiding the data that makes even those local decisions possible.
Look No Further Than The Crooked Media
Last week the Adopt a State program sent out our first Call to Action emails, and (without a hint of bias here) Florida crushed it. Team Florida has already raised upwards of $42k to support a Virtual Voter Registration Program—that will help reach 400,000 Floridians, which could cover Trump's margin of victory almost four times over. We'll be sending each state team new calls to action every week via email, so keep checking your inbox and getting those actions done. And if you haven’t already signed up, head on over to https://votesaveamerica.com/adopt and join the thousands of volunteers looking to flip some swing states.
Under The Radar
The new head of the Postal Service has implemented major operational changes that could slow down mail delivery. Postmaster General and Trump donor Louis DeJoy instructed employees to leave mail behind at distribution centers as needed to avoid delaying mail carriers from completing their routes, a change from postal workers’ traditional mandate to not leave letters behind for the next day. DeJoy cited the agency’s need to cut costs, but the decision could chase away more customers and put the Postal Service in a deeper financial hole. It could also prove disastrous in November, when voters could lose access to mail-in ballots due to slow delivery. The Treasury Department has continued to hold a $10 billion emergency loan hostage until USPS gives in to Trump’s political agenda, and Congress has yet to provide additional funding.
Fatal drug overdoses are likely surging during the pandemic. Drug deaths in the U.S. reached record numbers in 2019 after falling the year before, and the pandemic may be worsening the resurgence. A report in May found overdose rates have increased by an average of 20 percent across six states in 2020, and recent drug tests have found a substantial increase in illicit drug use, as well as a geographic spread of fentanyl. Overdoses were increasing before the pandemic, but it’s definitely not helping: Social isolation puts addicts at greater risk, treatment centers have been disrupted, and people who have overdosed are more likely to avoid emergency rooms out of fear of infection.
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Is That Hope I Feel?
SHE’S OUT OF THE HOSPITAL. Leaders in Asheville, NC, voted unanimously to provide reparations to the city’s Black residents. Virginia has become the first state to adopt statewide emergency workplace safety standards in response to the coronavirus. British artist Marc Quinn erected a statue of a Black Lives Matter protester in Bristol, on the plinth that used to hold a statue of slave trader Edward Colston.
Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!
That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ??? Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth. Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ... . Bitcoin Achievements so far:
It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
Many 1,000's of hacks, thefts, losses.
Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
Contributing significantly to Global Warming.
Wastes vasts amounts of electricity on useless, do nothing work.
Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
It created a new way for people living too far from Vegas to gamble all their life savings away.
Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
Increased China's foreign trade balance by a couple billion dollars per year.
Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
"A bitcoin miner in every device and in every hand."
"All the indicators are pointing to a huge year and bigger than anything we have seen before."
"Bitcoin is communism and democracy working hand in hand."
"Bitcoin is freedom, and we will soon be free."
"Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
"Bitcoin most disruptive technology of last 500 years"
"Bitcoin: So easy, your grandma can use it!"
"Creating a 4th Branch of Government - Bitcoin"
"Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
"Future us will thank us."
"Give Bitcoin two years"
"HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
"Cut out the middleman"
"full control of your own assets"
"reduction in wealth gap"
"cannot print money out of thin air"
"Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
"If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
"Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
"NO COINERS will believe anything they are fed by fake news and paid media."
"I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
"I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
"I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
"I think Bitcoin will do for mankind what the sun did for life on earth."
"I think the constant scams and illegal activities only show the viability of bitcoin."
"I think we're sitting on the verge of exponential interest in the currency."
"I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
"If Jesus ever comes back you know he's gonna be using Bitcoin"
"If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
"If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
"In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
"In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
"Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
"It won't be long until bitcoin is an everyday household term."
"It's the USD that is volatile. Bitcoin is the real neutral currency."
"Just like the early Internet!"
"Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
"Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
"let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
"My conclusion is that I see this a a very good thing for bitcoin and for users"
"No one would do such a thing; it'd be against their self interests."
"Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
"Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
"Seperation of money and state -> states become obsolete -> world peace."
"Some striking similarities between Bitcoin and God"
"THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
"The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
"The bull run should begin any day now."
"The free market doesn't permit fraud and theft."
"The free market will clear away the bad actors."
"The only regulation we need is the blockchain."
"We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
"We do not need the bankers for Satoshi is our saviour!"
"We have never seen something so perfect"
"We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
"We verified that against the blockchain."
"we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
"Well, since 2006, there has been a infinite% increase in price, so..."
"What doesn't kill cryptocurrency makes it stronger."
"When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
"When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
"Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
"Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
"You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
"You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
"Your phone or refrigerator might be on the blockchain one day."
The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
It's impossible to hide illegal, unsavory material on the blockchain
It's impossible to hide child pornography on the blockchain
All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
immune to government regulation
"a world-changing technology"
"a long-term store of value, like gold or silver"
"To Complex to Be Audited."
"Old Auditing rules do not apply to Blockchain."
"Old Auditing rules do not apply to Cryptocurrency."
Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at30 grandor more by next Christmas  - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully"u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
2018-12: "Bitcoin could be at$40,000by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
2018-12: Bitcoin will end 2018 at the price point of$50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
1)It is possible to change the code through a miner vote or a fork and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week. 2)You can also fork bitcoin anytime , start over from 0 and claim it's the real bitcoin. (BCH , BSV , BTG , LTC , BCD etc) 3)Why would you pay $10,000 for a digital collectible unit called BTC when you can use BCH or TRX or LTC .. you name it. They work just as fine and cost less. There is no rarity like in gold. 4)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even simply cash. 5)Private keys may be bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they could move them all at once instantly.(At least 45,000 ETH have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing could potentially break it. 6)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc.. proofs : “Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.” Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed” Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post” Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released. EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “ Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc.. 7)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels. 8)Then miners may be losing millions so they will stop mining , blocks may be so slow , almost no transaction will come though , and bitcoin may not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved may crash hard. 9)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”. 10)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc.. 11)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap. 12)Bitcoin price may artificially be inflated by Tether. 13)It’s an energy waste , an environmental catastrophy. 14)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation. 15)Governments will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity. 16)Most cryptos are scams , the rest are just crazy speculative casino investments. 17)It is pyramidal : early adopters intend to profit massively while last comers get crushed. That's not how money works. The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. Money is supposed to be rather stable. That's why the best cryptocurrencies are USDT USDC etc.. 18)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.00456329 BTC are ridiculous ! 19)About famous brokers listing bitcoin : they have to meet the demand in order to make money , it doesn't mean they approve it , some even short it (see interactive broker's CEO opinion on bitcoin) 20)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it , it's accepted everywhere , you can buy more things with it. 21)Everybody in crypto thinks that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it might not happen. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun. The markets are unpredictable. 22)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now. 23)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks. But it might be possible to do a rollback (blockchain reorganization) to reverse some transactions. BSV did it. 24)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governments might ban it to prevent fiat inflation to worsen. 25) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption. 26) The argument saying governments can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because they like it. But if crypto is banned , value will drop too much , and if you can’t sell it for fiat without risking jail , goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos. 27) Crypto doesn’t exist. It’s like buying air. It’s just virtual collectibles generated by a code. Faguzzi, fugazzi, it’s a whazzie, it’s a whoozie.. it’s a.. fairy dust. It doesn’t exist. It’s never landed. It’s no matter, it’s not on the elemental chart. It… it’s not fucking real! 28) Most brilliant guys have come out and said Bitcoin was a scam or worthless. Including Bill Gates , Warren Buffet , The Wolf Of Wall Street… 29) Inflation is necessary for POW , BTC code will have to be changed to bypass the 21M cap or mining will die ! If BTC code is not changed to allow for miners to be paid reasonably , they will cease mining when the bitcoin block reward gets too low.Even monero understood it ,the code will have to be changed to allow for an infinite bitcoin supply (devaluating all current bitcoins) or the hash will decrease and the security of bitcoin will decrease dramatically and be 51% attacked 30) Don’t mix up blockchain and cryptos. Even blockchain is overrated. But when you hear this or that company is going blockchain , it doesn’t mean they support cryptocurrencies. 31) Craig Wright had a bitcoin mining company with Dave Kleinman (he died) and on january 1 2020 he claims he will be able to access the 1.1M BTC/BCH/BTG from the mining trust. He may or may not dump them on the market , he also said BTC had a fatal flaw and that by 2019 there will be no more BTC. 32) Hacks in cryptos are very common and usually massive. Billions of dollars in crypto have been stolen in the last 6 years. In may 2019 Binance was hacked and lost 7,000 BTC (and it’s far from being the biggest crypto hack). 33) Bitcoin was first. It's an ancient technology. Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future? Was the Model T the future of the automobile? (John Mc Afee) 34) IOTA investiguating stolen funds on mainnet. IOTA shuts down the whole network to deal with trinity wallet attack. 35) Compared to bitcoin other cryptos work just as fine and don't waste so much energy. 36 ) Everytime miners disagree on the updates it will create another version of bitcoin : problem of governance and legitimacy. 37) Cryptos are only legitimate if they act as a credit for a redeemable asset like USDT or gold backed coins. While the native language of the writter is not english , I think you get the point and it doesn't make it any less relevant.
USD (DXY) up 0.08%, EUR down 0.04%, GBP down 0.50%, JPY down 0.12%, CNY Onshore up 0.12%, CNH Offshore up 0.02%, AUD down 0.23%
VIX up 0.65% to 9.25
Gold up 0.13% to $1,269.01
Silver down 0.11% to $16.62
Copper up 0.25% to $305.40
WTI Crude down 0.79% to $50.39
Brent Crude down 0.18% to $56.90
Natural Gas down 0.44% to $2.91
Corn down 0.07% to $3.49/bu
Wheat up 0.06% to $4.41/bu
Bitcoin up 1.55% to $4,414.56
Treasuries 2yr yields are up ~1.3bps at 1.500%, 10yr yields are up ~1.6bps at 2.364% and 30yr yields are up ~0.9bps at 2.899%
Japan 10yr yields 0.045%, up ~1.0bps on the day
France 10yr yields 0.750%, up ~1.9bps on the day
Italy 10yr yields 2.156%, up ~1.8bps on the day
Spain 10yr yields 1.704%, up ~1.8bps on the day
Germany 10yr yields 0.474%, up ~2.2bps on the day
What’s happening this morning? It was another slow evening of news other than the German Aug factory order numbers (which were very strong although the euro and Eurozone stocks are both in the red), a few US earnings reports (COST and YUMC), andsome M&A (GIMO, HON, JWN, PENN/PNK, SNCR, and more). The overall macro narrativeremains the same as it was at the Thurs close (see below for an update on the macro narrative as well as potential upcoming risks). The major Asian indices generally saw gains – TPX +0.28%, NKY +0.3%, Hang Seng +0.28%, HSCEI +0.54%, Taiwan +0.14%, Australia +1.04%, and India +0.5-7% (mainland China and Korea were both closed). There weren’t any huge themes in Asia although Macau casino stocks were weak in HK on back of underwhelming Golden Week visitor numbers (autos and financials led HK on the upside). Australia’s 1% rally was led by banks, miners, and telecoms. The major Eurozone indices are trading off small (~10-20bp); autos are outperforming while banks, retail, energy, and utilities lag. The GBP is extending its losses from Thurs amid more uncertainty around UK PM May (the DXY spiked ~50bp Thurs and is up small so far Fri morning). US S&P futures are trading down 1-2 points.
Calendar for Fri 10/6 – the focus will be on the US jobs report for Sept (8:30amET), US wholesale inventories/trade sales for Aug (10amET), US consumer credit for Aug (3pmET), and Fed speakers (Kaplan 8:30amET on CNBC, Bostic 9:15amET, Dudley 12:15pmET, Kaplan 12:45pmET, and Bullard 1pmET). o US jobs preview – there is very little anticipation or focus on the Sept jobs report (Fri morning 8/6 8:30amET) as 1) most are anticipating large storm-related distortions and 2) at this point in the cycle it only requires ~75K monthly adds to keep the UR steady (as was discussed in this JPMorgan report http://bit.ly/2fbT6cE). The St is in print at +80K for adds (vs. ADP for Sept at +135K and Aug BLS +156K) w/a 4.4% UR (unchanged w/Aug) and wages +0.3% M/M and +2.5% Y/Y (vs. Aug +0.1% M/M and +2.5% Y/Y). It’s very difficult to see the Sept BLS report changing the near-term US monetary policy trajectory (w/ongoing normalization and a FF hike on 12/13). The potential for a hike on 11/1 is very low and if anything the Sept CPI on Fri 10/13 may be a more important data point than jobs on Fri 10/6. Instead, the bigger Fed uncertainty has nothing to do w/data or policy but instead concerns staffing (i.e. who will be the next chair? A Trump announcement could come as soon as next week – Powell and Warsh are the frontrunners according to media reports w/the former appearing to have a slight edge).
Top Headlines for Friday
Eco data recap for Fri morning 10/6 – the big data came out of Germany where factory orders for Aug beat expectations by a wide margin (orders +3.6% M/M vs. the St +0.7% and +7.8% Y/Y vs. the St +4.7%). See JPMorgan’s comments on the German data (http://bit.ly/2y42sh4). Japan’s wage inflation figures for Aug were soft, as expected (http://bit.ly/2kuygr0). o Fed chair – markets would be comfortable w/any of the main candidates (including Powell, Warsh, Cohn, Yellen, etc.) w/the exception of one person: John Taylor. Bloomberg. o Fed update – Kansas City Fed President George spoke Thurs night and said the US economy needed further rates hikes (http://cnb.cx/2kqTiqj). JPMorgan’s Mike Feroli published an updated FOMC hawk/dove chart following the confirmation of Quarles (http://bit.ly/2z1jSti). o Japan’s “Party of Hope” unveils an economic agenda that pledges to rely less on aggressive fiscal and monetary stimulus – Reuters http://reut.rs/2ghahXu o AUD hit as RBA’s Harper doesn’t rule out a rate cut in a WSJ article. http://on.wsj.com/2xW3nkD
UK PM May the subject of more speculation amid disclosure of plot to topple her; former party chairman, Grant Shapps, said May’s leadership should now be challenged. Reuters http://reut.rs/2yMrmzB
Spain/Catalonia – Spain’s Constitutional Court ordered the suspension of the Catalan parliament’s regional session scheduled for Mon; Catalonia had planned on declaring independence at the session. Reuters http://reut.rs/2xlDfjC o Spain’s gov’t will change rules and make it easier for firms to move their legal base out of Catalonia – Reuters http://reut.rs/2z1WQCF
Tax update - there is a lot of focus on taxes in the US as the Senate Budget Committee (right at the Thurs close) and the full House (at ~1pmET Thurs afternoon) advance budget resolutions (the full Senate will presumably vote within the next two weeks). This is a necessary step in the tax process (as these resolutions contain the reconciliation instructions allowing tax to pass via a simple majority in the Senate) but also a relatively minor one. Far more complicated will be agreeing on rates, deduction schedules, deficits, etc., and if anything all the press in the last few days and weeks point to divisions within the GOP on these matters being larger than anticipated. o Schumer warns that the proposal to eliminate the SALT deduction will kill the GOP tax plan – Bloomberg. https://bloom.bg/2xXX8KL o GOP desire to repeal the estate tax runs into resistance - from Republicans. As a result this piece of the 9/27 tax blueprint (among others) may wind up being scrapped - WSJ. http://on.wsj.com/2gf9G8E o Fed officials express concern over tax plans – Fed officials warned the tax plan may only provide a temporary boost to growth while fueling inflation and driving debt to unsustainable levels – Reuters http://reut.rs/2xWMrdG
Republican headaches keep growing as donors withhold money, a tax consensus fails to materialize, and “establishment” figures depart the scene (Strange losing to Moore, Corker retiring, etc.). Republican leaders are increasingly concerned about the party’s grip on the House and Senate should it fail to pass a tax bill. Leaders “fear that the inchoate populism that Mr. Trump personifies, and which Mr. Bannon is attempting to weaponize against incumbents, is on the march” – NYT http://nyti.ms/2y3lUKT
Trump looks to jolt NAFTA – the White House is considering a proposal that would represent a radical shift to the principles underlying NAFTA. According to rule changes being considered, automobiles would need to have a specific level of US-made content in order to qualify for tariff breaks (right now autos only need to have a specific level of content from within the NAFTA region). WSJ. http://on.wsj.com/2y4LXlo
Trump makes cryptic comment ahead of a dinner with US military leaders. Trump said the dinner might represent “the calm before the storm”. Asked repeatedly by reporters to clarify his comments, Trump said, “You’ll find out” – Bloomberg https://bloom.bg/2xXI2r6
Trump was “furious” over NBC’s Tillerson “moron” article; John Kelly was forced to rearrange his schedule and stayed in Washington in order to try and calm tensions – NBC. http://nbcnews.to/2fOGx3B
Iran/Trump – Trump will “decertify” the Iran nuclear accord next week (speech on 10/12) and declare the agreement as not being in the US national interest according to the Washington Post (article out at ~2:40pmET Thurs afternoon). This is consistent w/what the AP and Politico reported earlier in the week. Note that Trump’s 10/12 declarations won’t end the Iranian nuclear pact as it will be up to Congress whether re-impose sanctions on Tehran (and Trump will hold off on recommending such a step). Washington Post http://wapo.st/2z1zeOw o Decertifying the Iran Deal Wouldn’t Have to Kill It – WSJ http://on.wsj.com/2y40dKY
North Korea – US lawmakers are pressuring the Trump White House to toughen sanctions against North Korea – WSJ. http://on.wsj.com/2xlKdVQ
The Economist's lead article this week speaks to sentiment at the moment and this is one of the big reasons why stocks are proving to be so resilient. "Asset prices are high across the board. Is it time to worry?" (http://econ.st/2xVXOjv). o The WSJ notes that a key European junk-bond index is now yielding less than 10yr US TSYs although it offers a reasonable explanation for this ostensibly irrational price level – WSJ. http://on.wsj.com/2xkwYVb
Company-specific news update from Thurs night. There were a few earnings reports out Thurs AMC but for the most part it was another slow evening. COST EPS beats thanks to better SG&A and favorable tax while GMs were light; Sept same-store-sales beat w/upside in the US (the stock ended down 3% during the Thurs after-hours trading session). YUMC’s results came in ahead of expectations (EPS/same-store-sales) and it increased capital return. SNCR reentered M&A talks w/Siris Capital (Siris is looking to buy SNCR’s Intralinks and may take a ~20% equity stake in SNCR); SNCR ended up ~27% during the Thurs after-hours trading session. According to the WSJ, HON is pursuing an acquisition of Evoqua Water Tech in a deal that could be worth $3B (http://on.wsj.com/2yseCSp). The WSJ reported (during trading on Thurs http://on.wsj.com/2xjE24p) on merger talks between PENN and PNK (the firms have been unable to agree to terms but PENN is still interested in buying PNK).
JWN buyout not completely dead – the Nordstrom family is exploring a new deal structure w/Leonard Green that would involve less debt. The family is trying to raise more equity (although it isn’t clear where the money will come from). WSJ. http://on.wsj.com/2ggTvbh
GIMO – Elliot’s takeover talks w/the company have ground to a halt according to Reuters over price disagreements – Reuters http://reut.rs/2fNCepo
SUM, ASHG – SUM has made a rival bid for ASHG as it looks to scuttle the existing Ash Grove-CRH PLC transaction. Ash Grove’s board said the offer could result in a superior proposal and that it would engage in talks with the third party. Bloomberg.
AMZN: the one market where Amazon is failing to dominate: Hollywood. The WSJ discusses AMZN’s failure to become a force in content. WSJ. http://on.wsj.com/2xZcJtr
Macau casino stocks slump during Fri trading as Golden Week visitor numbers disappoint expectations – Bloomberg https://bloom.bg/2fOuGmd
Identifying risks – what could go wrong?
Reflation enthusiasm is undercut by less aggressive CB normalization, dramatic curve flattening, and/or a softening in nominal growth. Of all the reflation pieces (monetary policy normalization, expansionary fiscal policy, firming inflation, and ongoing real growth strength), the last piece (real growth) is increasingly being taken for granted.
Bank investors wind up focusing too much on reflation/yields (which are tailwinds) but miss weakening credit (higher provisions) and tepid loan growth.
The first speech by the next Fed chair unsettles sentiment (assuming the chair isn’t Yellen).
The tax process slows in Washington as Republicans prove incapable of reaching a consensus on rates, deductions, and deficits.
Paul Ryan decides to “pull a Boehner”, stepping down as Speaker out of frustration with his inability to pass legislation.
The final tax bill results in materially higher rates for upper-income Americans.
May winds up stepping down as UK PM, sowing ongoing Brexit uncertainty.
Abe does much worse than anticipated during the upcoming Japan election (10/22).
North Korea conducts an above-ground nuclear bomb test (or even worse, an atmospheric test).
Iran decides to resume its nuclear weapons program, sparking an immediate escalation of Middle East geopolitical tensions (Trump’s Iran speech is coming up on 10/12).
Washington introduces (or threatens to introduce) tough new regulations aimed at internet/social media companies following the Russia election investigations (note that US internet giants will be testifying before Congress on 11/1).
Prominent members of the Trump team decide to leave the gov’t (the market would be particularly sensitive to Tillerson, Mattis, Kelly, and/or Cohn departing; recent media reports suggest the Tillerson-Trump relationship is particularly strained).
The pro-reflation bias commenced back on 9/11 and has been propelled ever since by ongoing real growth strength, firming inflation, normalizing monetary policy/rhetoric, and expansionary fiscal policy (in particular in the US w/the 9/27 tax blueprint but also in Germany following that country’s election outcome and fin min change).
This enthusiasm can extend for a few more weeks but the ECB/BOE decisions (on 10/26 and 11/2, respectively) will mark the culmination of a series of pro-reflation catalysts/developments and thus the trade may enter a period of extended consolidation around those central bank events.
Meanwhile the nuances of this present reflation process aren’t being appreciated – growth and corporate earnings are late-cycle (not early), multiples are already rich (although not necessarily ridiculous), inflation is only very gradually firming to target, the economy faces enormous structural headwinds in the form of labor supply and productivity growth, and while central banks are normalizing policy will stay extremely accommodative for years to come (the structural headwinds and slow tightening pace will prevent yields from materially rising and curves from significantly steepening).
The tenor of sentiment is beginning to evolve and there is definitely greater frustration w/people being forced to participate in a tape many don’t particularly love at present levels – this helps fuel runs such has occurred over the last few weeks (the SPX hasn’t closed in the red since Mon 9/25) but it also makes for a precarious setup w/a lot of weak “renters” who will be quick to sell the minute momentum pauses.
Bottom Line: the lack of major catalysts is helping the rally propagate and the calendar is relatively clear until earnings (which kick off w/banks on Thurs 10/12). The reflation impetus will likely stay in place into the ECB/BOE (10/26 and 11/2, respectively) after which a consolidation (at least) is likely (note that a lot of the “easy” tax steps are occurring now – the blueprint on 9/27, the budget resolutions, etc. However, reaching a consensus on rates, deductions, and deficits will be extremely difficult and this will become more apparent later in Oct and into Nov, around the same time as the ECB/BOE decisions).
Calendar of events to watch for the week of Mon Oct 9
Calendar for the week of 10/9 – overall it should be a relatively slow week although a few items are in focus. The current reflation emphasis makes the US CPI on Fri 10/13 prob. the single most important eco data point of the week but there are other numbers in focus (German trade/IP for Aug and China imports/exports for Sept). The CQ3 earnings season kicks off in earnest with the banks on Thurs and Friday. Away from scheduled events, media reports suggest Catalonia could formally declare independence on Mon (although this could easily be delayed following court challenges and as the region’s leaders seek a settlement w/Madrid) while the White House may unveil its infrastructure spending blueprint during the week of 10/9 (http://bit.ly/2wwiop9). South Korean security officials have warned that North Korea may fire additional missiles between 10/10 and 10/18 while Trump’s Fed chair selection could come soon (media reports suggest Powell and Warsh are the two frontrunners). Trump is expected to deliver an Iranian policy speech on/around Thurs 10/12 during which he will declare the nuclear deal as no longer being in the US national interest. HON has said it will announce its formal portfolio review decision prior to earnings (media reports, including on CNBC, suggest it will retain its aerospace unit).
Calendar for Mon 10/9 – the day should be pretty quiet owing to the US Columbus Day holiday (equities will be open but fixed income is closed). The focus will be on the China FX reserve numbers for Sept (Fri night/Sat morning 10/7), the China Caixin services PMI for Sept (Sun night/Mon morning), Germany’s industrial production for Aug (2amET), and earnings (LVMH reports results after the European close).
Calendar for Tues 10/10 – the focus will be on the German trade figures for Aug (2amET), a bunch of analyst meetings (including TECD, Santander, WDAY, and WMT), the PG shareholder meeting (at which the Trian/Peltz board seat request will be voted on), and earnings (CUDA after the close).
Calendar for Wed 10/11 – the focus will be on the US JOLTs report for Aug (10amET), Fed minutes from the 9/20 meeting (2pmET), analyst meetings (KR), and earnings (DAL, BLK, FAST, and OZRK before the open).
Calendar for Thurs 10/12 – the focus will be on Eurozone IP for Aug (5amET), the US PPI for Sept (8:30amET), Trump’s Iran speech, analyst meetings (BOX, HPQ, LSCC, and WDC), and earnings (C, DPZ, JPM, LNN, Sky PLC, and Tata Consultancy pre-open).
Calendar for Fri 10/13 – the focus will be on China’s imports/exports for Sept (Thurs night/Fri morning), the US CPI for Sept (8:30amET), US retail sales for Sept (8:30amET), the Michigan Confidence numbers for Oct (10amET), US business inventories for Aug (10amET), analyst meetings (SAFM), and earnings (BAC, DRFG, FHN, FRC, JBHT, Man Group, PNC, and WFC pre-open).
Catalysts – big events to watch over the coming months
China mainland markets closed Mon 10/2-Fri 10/6 for the National Day holiday.
US jobs report for Sept – Fri 10/6.
US infrastructure spending - the Trump White House may unveil its long-anticipated infrastructure plan during the week of 10/9 according to House Transport chairman Rep. Bill Shuster.
North Korea - South Korea’s national security adviser Chung Eui-yong said he expected Pyongyang to act around Oct. 10 and 18 (Reuters).
WMT analyst meeting – Tues 10/10 (note that KR has an analyst meeting the next day, Wed 10/11).
PG shareholder meeting – Tues 10/10 (decision to be made on Peltz’s board seat request).
Fed minutes – minutes from the 9/20 meeting will be released Wed 10/11. 2pmET.
HON – the co will announce its portfolio review decision before earnings in Oct.
Iran - Trump is planning to deliver an Iran policy speech on 10/12 and he is expected to say that the landmark 2015 nuclear deal is no longer in the U.S. national security interest (AP)
Bank earnings – the CQ3 earnings season kicks off w/Citigroup and JPM Thurs morning 10/12 while BAC, PNC, and WFC all report Fri 10/13.
US inflation – the Sept CPI will hit Fri 10/13.
IMF/World Bank - 2017 Annual Meetings of the World Bank Group and the International Monetary Fund. Oct 13-15 in Washington.
CQ3 earnings – the week of Mon 10/16 is the first busy week of the CQ3 reporting season.
Fed chair decision during the week of 10/16? Based on Trump’s “two to three” weeks comment (on Fri 9/29), his decision on a Fed chair could come as soon as the week of 10/16 (this week is also the first busy period of the CQ3 earnings season, the deadline for Trump to rule on the Iran nuclear deal, and the beginning of the China National Congress on 10/18). Media reports suggest the Fed chair frontrunners are Warsh and Powell followed by Yellen and Cohn.
China - the National Congress of the Communist Party of China starts Oct 18.
China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning) – Thurs morning 10/19.
EU leaders hold summit in Brussels. Oct 19-20. Brussels.
Japan – the country will hold snap elections on Sun 10/22.
Flash PMIs for Oct – Tues 10/24
ECB meeting/press conf. Thurs Oct 26. The ECB is expected to provide guidance on LSAP tapering at this meeting (St assumes LSAP drops from EU60B now to EU40B w/6 month extension).
1949: The Year That Set the Course of Chinese-American Relations – NYT http://nyti.ms/2z2hGSv M&A/Strategic Actions
Brooklyn Nets – multiple suitors are in talks to buy a 49% stake in the NBA deal. Mikhail Prokhorov is seeking a valuation of >$2B for the entire team. NY Post. http://nyp.st/2y3KFY0 o Brooklyn Nets – BABA denied that its vice chairman, Joseph Tsai, was in talks to buy a stake in the Nets – Reuters http://reut.rs/2yuCBRa
GIMO – Elliot’s takeover talks w/the company have ground to a halt according to Reuters over price disagreements – Reuters http://reut.rs/2fNCepo
HON - according to the WSJ, HON is pursuing an acquisition of Evoqua Water Tech in a deal that could be worth $3B (http://on.wsj.com/2yseCSp).
HPQ, Samsung – China said it will approve HPQ’s purchase of Samsung’s printer business – Reuters http://reut.rs/2y06khP
JWN buyout not completely dead – the Nordstrom family is exploring a new deal structure w/Leonard Green that would involve less debt. The family is trying to raise more equity (although it isn’t clear where the money will come from). WSJ. http://on.wsj.com/2ggTvbh
PENN, PNK - the WSJ reported (during trading on Thurs http://on.wsj.com/2xjE24p) on merger talks between PENN and PNK (the firms have been unable to agree to terms but PENN is still interested in buying PNK).
Retailers helped through bankruptcy process – Reuters notes that many retailers are obtaining help during the bankruptcy process w/many being allowed to stay in business w/their store bases largely intact – Reuters http://reut.rs/2y3NcAN
SNCR - On October 4, 2017, SNCR and Siris determined to restart discussions regarding a potential transaction. Specifically, Siris is offering to buy Intralinks for $915MM cash, invest $185MM for a convert worth ~20% of SNCR’s common shares, and cancel the ~6MM SNCR common shares it now owns.
SUM, ASHG – SUM has made a rival bid for ASHG as it looks to scuttle the existing Ash Grove-CRH PLC transaction. Ash Grove’s board said the offer could result in a superior proposal and that it would engage in talks with the third party. Bloomberg.
Unilever – the co is seeking PE bids for its spreads business by 10/19; a sale could be worth $8B – Reuters http://reut.rs/2fNDYPe
Full catalyst list
Fri Oct 6 – German factory orders for Aug. 2amET.
Fri Oct 6 – US jobs report for Sept. 8:30amET.
Fri Oct 6 – US wholesale inventories/trade sales for Aug. 10amET.
Fri Oct 6 – US consumer credit for Aug. 3pmET.
Fri Oct 6 – Fed speakers: Bostic, Kaplan, Bullard
Sat Oct 7 – China FX reserves for Sept (Fri night/Sat morning)
Mon Oct 9 – China Caixin services PMI for Sept (Sun night/Mon morning)
Mon Oct 9 – German industrial production for Aug. 2amET.
Mon Oct 9 – earnings after the European close: LVMH.
Mon Oct 9 – Columbus Day holiday in the US (equities will be open while fixed income is closed).
Tues Oct 10 – German trade balance for Aug. 2amET.
Tues Oct 10 – analyst meetings: TECD, Santander, WDAY, WMT
Tues Oct 10 – PG shareholder meeting
Tues Oct 10 – earnings after the close: CUDA
Wed Oct 11 – US JOLTs report for Aug. 10amET.
Wed Oct 11 – Fed minutes from the Sept 20 meeting (2pmET).
Wed Oct 11 – analyst meetings: KR
Wed Oct 11 – earnings before the open: BLK, DAL, FAST, OZRK.
Thurs Oct 12 – Eurozone industrial production for Aug. 5amET.
Thurs Oct 12 – US PPI for Sept. 8:30amET.
Thurs Oct 12 – analyst meetings: BOX, HPQ, LSCC, WDC.
Thurs Oct 12 – earnings before the open: C, DPZ, JPM, LNN, Sky PLC, Tata Consultancy.
Thurs Oct 12 – earnings after the close: EXFO
Fri Oct 13 – China imports/exports for Sept (Thurs night/Fri morning)
Fri Oct 13 – US CPI for Sept. 8:30amET.
Fri Oct 13 – US retail sales for Sept. 8:30amET.
Fri Oct 13 – US Michigan Sentiment for Oct. 10amET.
Fri Oct 13 – US business inventories for Aug. 10amET.
Fri Oct 13 – analyst meetings: SAFM
Fri Oct 13 – earnings before the open: BAC, DRFG, FHN, FRC, JBHT, Man Group, PNC, WFC.
Mon Oct 16 – China CPI/PPI for Sept (Sun night/Mon morning)
Mon Oct 16 – Eurozone trade balance for Aug. 5amET.
Mon Oct 16 – earnings before the open: SCHW
Mon Oct 16 – earnings after the close: BRO, IEX, NFLX, Rio Tinto
Tues Oct 17 – Eurozone Sept auto registrations. 2amET.
Tues Oct 17 – German ZEW survey results for Oct. 5amET.
Tues Oct 17 – US import prices for Sept. 8:30amET.
Tues Oct 17 – US industrial production for Sept. 9:15amET.
Tues Oct 17 – US NAHB housing index for Oct. 10amET.
Tues Oct 17 – earnings before the open: BMI, CMA, CSX, GS, GWW, HOG, JNJ, MS, Pearson, PLD, Remy Cointreau, UNH
Tues Oct 17 – earnings after the close: ADTN, BHP, CP, CREE, IBM, LRCX, NAVI.
Wed Oct 18 – US housing starts for Sept. 8:30amET.
Wed Oct 18 – US building permits fro Sept. 8:30amET.
Wed Oct 18 – US Beige Book. 2pmET.
Wed Oct 18 – earnings before the open: ABT, Akzo Nobel, MTB, NTRS, USB
Wed Oct 18 – earnings after the close: AA, AXP, BHE, CCI, CCK, EBAY, LLNW, SLG, TCBI
Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
Tues Oct 24 – earnings after the close: AKAM, AMP, CMG, COF, DFS, ESRX, IRBT, T, TSS, TXN.
Wed Oct 25 – US durable goods for Sept. 8:30amET.
Wed Oct 25 – US FHFA home price index for Aug. 9amET.
Wed Oct 25 – US new home sales for Sept. 10amET.
Wed Oct 25 – earnings before the open: ALK, ALLY, ANTM, Antofagasta, AOS, BA, BAX, Dassault Systemes, DPS, FCX, FLIR, Fresnillo, HBAN, Heineken, IP, IR, KO, LEA, LH, Lloyds Banking Group, NDAQ, NSC, NYCB, Peugeot, TMO, TUP, V, WBA, WEC.
Wed Oct 25 – earnings after the close: ABX, ACGL, AFL, AMGN, CLGX, DLR, FFIV, FTI, KIM, LSTR, NOW, ORLY, PKG, PLXS, RJF, TSCO, UNM, VAR, XLNX.
Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
Thurs Oct 26 – US pending home sales for Sept. 10amET.
Thurs Oct 26 – earnings before the open: Aixtron, ALLE, ALV, Anheuser Busch, APD, Bayer, BMY, BSX, BWA, CCMP, CELG, CHTR, CMCSA, CME, Deutsche Bank, ENTG, EQT, F, HLT, MMC, NEM, Nokia, ODFL, Santander, Schneider Electric, UNP, UPS, WM, XEL.
Thurs Oct 26 – earnings after the close: AIV, ATEN, CB, CDNS, EXPE, FLEX, FTNT, GILD, GOOG, HIG, INTC, LPLA, MSFT, NATI, PFG, SYK, VDSI, VRSN.
Fri Oct 27 – China Sept industrial profits (Thurs night/Fri morning).
Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
Fri Oct 27 – earnings before the open: B, MRK, PSX, SC, TRU, Volkswagen, WY, XOM.
Mon Oct 30 – US personal income/spending and PCE for Sept. 8:30amET.
Mon Oct 30 – US Dallas Fed index for Oct. 10:30amET.
Mon Oct 30 – analyst meetings: CSX
Mon Oct 30 – earnings before the open: HSBC
Mon Oct 30 – earnings after the close: AVB, CGNX, RE, RTEC, VNO
Tues Oct 31 – US Employment Cost Index for Q3. 8:30amET.
Tues Oct 31 – US Case-Shiller home price index for Aug. 9amET.
Tues Oct 31 – US Chicago PMI for Oct. 9:45amET.
Tues Oct 31 – US Conference Board Sentiment readings for Oct. 10amET.
Tues Oct 31 – earnings before the open: ADM, AET, Airbus, AMT, Barclays, BNP, CMI, ECL, GGP, K, MA, OSK, PFE, XYL.
Tues Oct 31 – earnings after the close: APC, CHRW, CXO, WFT, X
Wed Nov 1 – US ADP jobs report for Oct. 8:15amET.
Wed Nov 1 – US Markit Manufacturing PMI for Oct. 9:45amET.
Wed Nov 1 – US Manufacturing ISM for Oct. 10amET.
Wed Nov 1 – US construction spending report for Sept. 10amET.
Wed Nov 1 – US auto sales for Oct.
Wed Nov 1 – FOMC meeting decision. 2pmET.
Wed Nov 1 – earnings before the open: AGN, APO, CLX, EL, GRMN, HFC, Novo Nordisk, ORBK, Standard Chartered, TAP, TRI.
Wed Nov 1 – earnings after the close: ALL, BHF, BXP, CAVM, CSGS, FB, LNC, MANT, MET, MUSA, OXY, PRU, QCOM, ULTI, XPO.
Thurs Nov 2 – US nonfarm productivity and unit labor costs for Q3. 8:30amET.
Thurs Nov 2 – earnings before the open: ADP, AN, BCE, CI, Credit Suisse, DISCA, H, ICE, Royal Dutch Shell, Sanofi, Swiss Re, WRK.
Thurs Nov 2 – earnings after the close: AAPL, AIG, CBS, CRUS, FLR, HLF, RMAX, SBUX, UNIT.
Fri Nov 3 – US jobs report for Oct. 8:30amET.
Fri Nov 3 – US trade balance for Sept. 8:30amET.
Fri Nov 3 – US factory orders and durable goods orders for Sept. 10amET.
Fri Nov 3 – US non-manufacturing ISM for Oct. 10amET.
Tues Nov 7 – US JOLTs jobs report for Sept. 10amET.
Tues Nov 7 – US consumer credit for Sept. 3pmET.
Thurs Nov 9 – US wholesale trade sales/inventories for Sept. 10amET.
Fri Nov 10 – US Michigan Confidence preliminary numbers for Nov. 10amET.
Tues Nov 14 – US PPI for Oct. 8:30amET.
Wed Nov 15 – US CPI for Oct. 8:30amET.
Wed Nov 15 – US Empire Manufacturing for Nov. 8:30amET.
Wed Nov 15 – US retail sales for Oct. 8:30amET.
Wed Nov 15 – US business inventories for Sept. 10amET.
Thurs Nov 16 – US import prices for Oct. 8:30amET.
Thurs Nov 16 – US industrial production for Oct. 9:15amET.
Thurs Nov 16 – US NAHB housing index for Nov. 10amET.
Fri Nov 17 – US housing starts and building permits for Oct. 8:30amET.
Mon Nov 20 – US Leading Index for Oct. 10amET.
Tues Nov 21 – US existing home sales for Oct. 10amET.
Wed Nov 22 – US durable goods for Oct. 8:30amET.
Wed Nov 22 – US final Michigan Confidence numbers for Nov. 10amET.
Wed Nov 22 – FOMC 11/1 meeting minutes. 2pmET.
Fri Nov 24 – US flash PMIs for Nov. 9:45amET.
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Anarcho-Nomadism: The perpetual flight from oppression
I ran into two interesting articles today, that both seem to be missing the same point. There's this article from iron_dwarf on the Ran Prieur subreddit and this article from MakeTotalDestr0i. To summarize, one of these articles is David Graeber's critique of the grand myth of civilization, in which we assume that we lived in egalitarian bands of hunter-gatherers, until eventually we invented agriculture and everything went to shit. Graeber rightly points out that there were egalitarian cities without monarchs for hundreds of years, that tribes of hunter-gatherers can have oppression too and that it seems to have been more difficult for us to maintain freedom and equality within families, than within societies as a whole. Even those North American cultures that had egalitarian gatherings during some seasons had families ruled by patriarchs and tyrants for the rest of the year. Amir Taaki, like David Graeber somewhere at the top of my list of people I admire, is an anarchist of Persian origins who saw revolutionary potential in Bitcoin and went to Syria to fight for the Kurds against the genocidal Islamists of ISIS. He's back now and hopes to transform Bitcoin into something other than a multilevel marketing scheme of frat-boys staring at charts hoping to buy lamborghini's. So, Taaki thinks he can bring Bitcoin back to its quirky revolutionary roots, Graeber thinks the archeological evidence demonstrates we can create the kind of society we want for ourselves, rather than being forever stuck with inequality as some sort of permanent bug in our social operating system that has to be chronically treated by a class of technocrats studying GINI coefficients and other metrics. In both cases, it seems to me that the more important point goes unmentioned. Yes, there are certainly exceptions, but hunter-gatherer tribes were taken as a whole more egalitarian than most neolithic societies. We have genetic evidence demonstrating a rapid decline in genetic diversity in our species during the Neolithic revolution, simply because a small minority of men take control over society. At the same time, Bitcoin did in fact transform into a cult of greed, far removed from its founding principles. You have to be really dense to assume that a system that utilizes 400,000 times more electricity per transaction than VISA has any sort of future as a payment option. The coders and fanboys cling onto this system, because it gave them some sort of meaningful social role and earned them some money. Corruption, inequality, greed, these are ailments that slip into systems. The question Graeber and Taaki are asking is: How do we reform these systems back into something that functions again? The question you need to be asking yourself is: How do we avoid becoming dependent upon systems that will inevitably become corrupt? As an example, consider the state of modern jobs. Inequality has surged in our society, but it has had a different impact on the nature of labor, depending upon the kind of skills and background you have. If you're working a low-skilled blue collar job, you can expect to be treated as a slave nowadays. You'll have schedules that dictate where you need to be standing and how many times you're allowed to use the bathroom. The reason this happens, is because employers know you have no choice. They have no need to treat you like a human being, because you can't quit your job as you're lucky to have a job in the first place. Now imagine having a social role that's in high demand. You're now flexible. If your boss treats you like a slave, you'll quit and move to another employer. Your boss knows this and as a result chooses to treat you with dignity, because he has no other option. Your freedom ultimately depends, on your ability to have a choice and to say no. The pain imposed upon you will gradually increase as long as it benefits your employer, until the employer fears the pain imposed upon you might exceed that of the alternatives you have. I first figured this simple principle out when I was around 12 year old, forced to attend some terrible school for rich kids. I had two kids I hung out with during the breaks, one of whom was the typical kid who programs websites as a hobby. I once mentioned in passing that I had made a website once myself with a friend. He insisted I had to show it to him, but I told him I didn't really want to, as it was very personal and not very good looking. He told me eventually that if I didn't want to spend my breaks by myself, I had to show it to him. Of course this kid is 12 years old, so although he has the right mentality to grow into a petty office tyrant who makes a schedule for your bathroom breaks, he doesn't have the cognitive ability yet to be subtle about it. Note however, that his desire to impose his will on me is based on the fundamental assumption that I don't have a choice. Like a Silicon Valley employer who thinks he's the only alternative you have to living in a tent city, this kid thinks he is the only alternative I had to social ostracism. This wasn't true, I quite readily found other kids to hang out with. This principle exists everywhere however. Consider spousal abuse. The reason women were abused by husbands for generations, and modern boys are now regularly emotionally abused by their girlfriends, is because one partner has power over the other partner. The reason this power exists, is because the person has no genuine alternative, or at least believes themselves to have no genuine alternative. A big solution to this problem, would be non-monogamy. People who have multiple partners have little incentive to put up with a partner who behaves in an emotionally abusive manner. As non-monogamy becomes more widespread, relationships in general will become less abusive. When we return to work, the same principle can apply. A person who works for multiple bosses, will have greater freedom to terminate his arrangement with a boss who behaves in an abusive manner. Similarly, we need to have the freedom to move to different locations. A government that doesn't have to fear its citizens leaving, is a government that's free to behave in a tyrannical manner. The rich already have this freedom to move to foreign places, which is why corporations and wealthy individuals now find that governments around the world now dramatically reduce their taxes. However, poor people need to have this freedom too. There are multiple ways to go about this. The European Union allows you to move from one nation to another. However, because the Union itself has a government that makes increasingly more decisions, it means you're practically still stuck with the same government. Instead of unification, we need devolution. Consider the example of Spain. It would be ideal to have not just Spain as a country, but to have an independent Basque country, as well as an independent Catalonia, Galacia and Andalusia, with citizens free to migrate between these nations. This is how Europe effectively functioned in the 19th century, as citizens were typically free to move to another country and America as a whole functioned as an alternative to the tyranny we endured in our own nations. The current situation however, is a mere start. Ideally, we wouldn't have a single government operate within a particular geographical location, but to have multiple governments we can choose from. This sounds far-fetched to us, but this is exactly how Europe functioned before the emergence of the sovereign nation states of the post-Westphalian era. Living in a particular territory of the Holy Roman empire could mean being subject to a local count, as well as to a prince, a bishop, the Holy Roman Emperor, and even the Pope himself had a say in a nation's domestic affairs. There was no clear ultimate ruler of a particular geographic location. Today, the emergence of supranational organizations like the IMF, the European Union, the World Trade Organization and a wide variety of NGO's has similarly led to a situation where nobody is genuinely in control anymore. Finally, ideally we wouldn't just have the option to choose between employers, but to choose freedom from work. Far fetched? This situation has existed throughout history. Today we call it retirement and apply it to old people. In the past it was called the "rentiers class" and simply meant being rich. The black death decimated the population of Europe, leading to an era of unprecedented liberty, as wages grew dramatically. Peasants spent large parts of the year idle and could simply choose to refuse to work. What matters more than the conditions you live under, is whether you choose the conditions you live under. With choice comes freedom. For this reason, for much of human history, we didn't see the city as a source of oppression, but as a source of freedom. The countryside was a place for oppression, in the city you had a choice. You could apply to join a guild, you could beg, you could play music, you could steal, you could work as a prostitute or you could jump aboard a ship. In the countryside, you're just stuck toiling the fields. For the same reason, cryptocurrency is ultimately a source of liberation. Before the current era, you had government controlled currencies and that was all you had to work with. Today we have Bitcoin, but more importantly, we have the means to design our own currency with which we choose to perform economic transactions. Rather than working on "improving Bitcoin", we need to realize the simple fact that we have a choice to seek out alternative systems. There's nothing out there that requires us to participate in Bitcoin. The problem that leads to hierarchy, is that humans have a habit of slipping into stasis. From stasis comes dependency, from dependency comes power, from power comes hierarchy, which then leads to the loss of freedom. Bitcoin leads to a hierarchy, because the people who run the subreddit, the forum, the exchanges, the miners and the Github repository control the system, your "full node" doesn't decide jack shit. True freedom requires never being dependent upon any single phenomenon in your environment. To achieve such freedom, the solution has always been to forever be on the move. To stay stuck in a particular situation, means to develop dependence on the factors that surround you. The means to nomadism have always differed, but those who desire freedom and autonomy have historically tended to seek out nomadism. In the past it meant wandering around with herds of cattle, trading goods between cities. Today nomadism can mean many things. Some achieve it by playing music, others become digital nomads, whose source of income is entirely derived from the work they perform on their laptop. This is what the archeological and anthropological evidence demonstrates. There are hierarchical societies that don't practice agriculture. However, what tends to be going on in those cases is that people depend for nutrition on a particular location that delivers large amounts of food. As an example, a tribe might live in a desert near a river that's full of fish, or a tribe might live on an island. This leads to the emergence of hierarchies, because there is property over which ownership can be enforced and people have no real option to leave. Egalitarian bands of hunter-gatherers exist, because anyone who wants to make a bathroom-break schedule for the whole tribe or expects you to fill in a TPS report for every mongongo nut you bring back to the campfire wakes up in the morning and finds that half the tribe has left. Finally, the most important thing to understand is that freedom in our society is ultimately a mental choice. If you're working as a minimum wage slave for Amazon, you're stuck in that position because of the mental space you're stuck in. You come to believe you have no choice, which becomes a self-fulfilling prophecy. It seems to me that such mental inflexibility itself is a problem many people suffer from, it's a problem that tends slips in as we age. The personality trait openness declines as we age. When you take psychedelics however, your openness can be increased to levels of a young person again. Most people are mentally bound to conditions they shouldn't live in. As an example, consider my own case. With the salary I earn, I could be considered rather poor if I had to live in Amsterdam. However, I live in a small town in a house that's going to be demolished, so I manage to save roughly a third of my salary every month. Similarly, there are people who earn huge wages, but live in San Francisco. The problem in those cases is that people are geographically bound to conditions that lead to poverty. The New York Times recently had an article, insisting that even wealthy people are actually poor, because if you consider the lifestyle they lead their salaries are inadequate too. However, there's nobody out there forcing them to attend diners with their colleagues after work or to send their kids to private school. This is a case of mental poverty, a poverty of imagination. There are people in their thirties who had such jobs back in their twenties, retired and never work a day in their life again. The worst form of mental bonding however, is found in the form of religions, ideologies and traditions. Even if you have all the choices in the world available to you, you won't make use of them if you believe there's a guy who showed up thousands of years ago and appointed a bunch of guys in fancy dresses who can judge on his behalf how you should live. I'm an anarchist, but I'm more of an individualist anarchist than most, in the sense that I think freedom is a choice you have to create for yourself, it's generally not going to come about by a revolution. I believe in propaganda of the deed, but I think the best propaganda is generally not to go out and kill someone, but by living the kind of life you wish to live. Consider the case of the trainhoppers who were immortalized in Mike Brodie's photo series. This is what effective propaganda looks like. I struggle to think of people who are more free. They are free in ways we don't even think about. Consider the fact that you spend every morning dousing every part of your body in water, using soap to remove grease from your hair, then using a brush to cleanse your teeth, before applying a variety of perfumes to your body. This is a social obligation I would happily go without. I feel less oppressed by Peter Thiel and Bill Gates than I do by minimum-wage earners who frown when I'm not wearing clean clothing. Freedom is found by being perpetually on the move. We should aim to be like the wild grazers, who are perpetually journeying. Any place we graze too long is a place that will lead to our deaths. As human beings, we inhabit multiple spaces, mental as well as geographical. The overpopulated tech-boom cities should be fled from as readily as we should flee from toxic relationships, toxic cultures and toxic mentalities. If you think there is some kind of system, some ideology, some kind of government, or some group of people who can liberate you, you are mistaken. The liberators of today are the tyrants of tomorrow. Freedom is always going to have to be something you'll have to seek out for yourself. Keep moving.
I thought cst might like to see this post I made from conspiracy that they liked "Drugwalking" is a term I made up that is analagous to the ATF Gunwalking Scandal, used to describe the vertically-integrated drug activities of the Fed. Just to remind you, the gunwalking scandal involved putting out illegal firearms and seeing where they ended up, letting the illegal arms act as a kind of radiological tracer used in medicine. By finding these illegal arms, the feds were able to 'map out' the criminal organizations. Drugwalking is similar to gunwalking in some ways and dissimilar in others. It's similar to gunwalking in that it's an entrapment-like ploy to capture some people. But it's different from gunwalking in that it does not hope to entirely eliminate drug networks, rather it aims to maintain, optimize and manage drug networks. We Know Who is at the Top of the Drug Dealing Pyramid We know that the CIA, Queen Elizabeth II, and the Pope are all involved in narcotrafficking. If you don't know this, then you have tried very hard to keep yourself in a state of complete ignorance. The history you received in public school is that England ran an Opium War against the Chinese and then that was over. Guess what? That's not correct: The opium wars never stopped.. And the silk road didn't die with Rome. And Rome: didn't die. Silk road went global along with Rome, and the US is now Rome. The modern darknet 'silkroad' and 'silkroad 2' were taken over by the fed and the NSA ended up with all their bitcoins, making them a primary coinholder. Isn't that convenient? You see, it's all a game and we're the dupes. We were funded initially by french freemasonry steered by the Bavarian illuminati to win our Revolutionary war and become a sovereign so-called 'republic'. We could not have won our secret-society-based-nation on our own, as Britian was 2000 yrs ahead of us in drug revenue and money wins wars. No, this was the creation of a subsidiary. An affiliate making program. The only reason we became 'so called sovereign' is "they" let it happen. Just like most wars, lots of people died in order for a good show for the history books. Apologies in advance if this opinion makes you mad at me---to propose that the US is still a subsidiary of the British Empire. I believe it is. But we can't have that conversation now. Still I can tell you why I feel this way for several reasons. Primarily, that Drug mercantilism did not die with the burning of templars. After reading several books on the government and clergy-run narcotrafficking this much has become perfectly clear. Fast forward to now. There's a cartel in Mexico called the "Knights Templar Cartel", that have adopted the principles of their namesake. When the Rat Pope came to town, they put up banners promising no violence in the area during that time. This is just one interesting anecdote among many. Others have written about proofs of these claims at length in several books, namely LaRouche's Dope Inc, McCoy's Politics of Heroin, and Gary Webb's Dark Alliance. Some of these were written decades ago, and if you truly need more sources than that, and are too lazy to investigate/fact checkmebro on this yourself, then I will gladly provide, but at my leisure/pace. Proving this is not the point of this article. Global Substance Management, Inc Our CIA, who are not intelligent enough to do their own intel, are managing cartels around the world. I've explained this in the best (and most underrated imo) post I've ever written to date. The CIA itself is guided by policy agencies that are guided by on the one hand, necon facist industrialists of the knights of malta freemasons, and on the other neoliberal fascist zionists and jesuit financeers. Guess who is NOT represented? That's right: the public--the lumpen, extraoperative, global everyperson. The chief export of this system is disempowerment, demoralization and opacity, while fooling everyone into thinking it's the opposite of those things (selling the shinola). Hypocrisy, Fake Rights and Lip Service Hangouts If these drugs were legal, then we wouldn't have any reason to complain about the authorities simply creating a vertically-integrated network of goods and services. But we complain because they've made these substances illegal, while also selling them. They are illegal because of the drug schedules promoted within the UN 1971 Convention on Spychotropic (Psychotropic) Substances The UN is steered mostly by the US as a faux-ideology hangout and plausible deniability engine. In other words, they created a fake international organization to act as a scapegoat for crafting policies that would be difficult to retract, simply because they've contractually-obligated all participatory governments in adhering to those policies. Difficultly-in-retraction simply means, you can't reneg if you yourself created the guidelines, because reneging on these agreements would make the US look indecisive, foolish, fickle, and untrustworthy ("you're going to tell me what to do but can't hold yourself to the same standards"). This Janus-face of hypocrisy is what people find intolerable, now that we all pretty much know who is at the top of the pyramid. They push they push psychological garbage tropes of 'drugs are bad', 'drugs are immoral', 'we are losing the drug war' as a form of social control, to create a means of distinction: the 'good people' and the 'bad people'. To foist judgmentalism of "the drug user trope" on everyone. By creating the drug-addled trainwreck of the Charlie Sheen trope, they necessarily and implicitly create his social opposite: the 'normal person'. Don't be like Charlie Sheen. Be a normal person. Keep calm, go to work, fuck your wife 3 times a year, and above all stop asking questions--that only hurts you. Back to the UN: what have they done with their little blue hats to stop drugs? What has INTERPOL done? I think they set cartel boundaries to keep "normals" from getting hurt...because that gives justification for retaliation and lawsuits...I think that's all they do because they cannot 'win' the drug war when they are being run from the same parent org that is selling the drugs. It would make as much sense to think that pro-breastfeeding groups are being run by infant formula manufacturers. Drugwalking It's become very obvious that the only reason to keep drugs illegal is to extort taxes from the public in order to enhance a government run paramilitary militia of drug agents (DEA) that look strangely like ISIS. Yet, the very same government is bringing in these illegal drugs through cartels; brainwashing the public into thinking they are fighting a war on drugs, winning/losing it, and constantly need our taxes to do it; and using the DEA to bust the occasional hippies to remind you who the "normal people" are, and all's under kontrol. Unless of course you're black. Or poor. The two employees / consumers. These two groups end up in jail more often than others. I guess they didn't get the memo on how to be a "normal person" and they went the Charlie Sheen route. Of course, if meth weren't available to them, white people also woudn't end up in jail. Because meth is the new crack but for whites. If you're a good gang member, you don't do things that undermine the money train, like yourself getting addicted. If you do: jail. If you steal money, then you get busted. If you think you're going up the chain rapidly, jail. If you think you're going to go off script and run your own thing: jail. Like Carlin said, the Government hates competition. It's helpful to point out that our prison system has become privatized so now the government doesn't have to deal with pesky regulations like keeping prisoners alive or healthy or safe. Prisoners are paid a miniscule fraction of the minimum wage for their labor in manufacturing deep-discounted public-sphere items. This is essentially slavery. Basically, when a government manages the worlds illegal substances as 'regional interests'--ie: you get your cocaine from s. america, your meth from mexico, your opiates from afghanistan and s.e. asia--and then imports these substances, and then polices people regarding these substances, and then outsources the results of their policing, they are basically engaged in
Drugwalking, the casting of a wide net of illegal substances in order to kill users or incarcerate them at a profit, making money at each and every step so that all the middle men make very large profits and the america public is terrorized into giving up more of their money in order to feel safe.
Psychedelics are the solution to Addiction The government also hates drugs that expand the mind, break mind control, break addictions to the products they sell, and basically do little to no harm themselves(mushrooms and pot respectively)), and are sometimes medically invaluable in treating mental illness. And in the case of suicide, instead of promoting proven psychedelic therapy, they promote more addictive heroin, again finding a new way to peddle their substances by politicking science and omitting and ignoring a favorable solution (that just happens to threaten the alcohol industry as well). Our country loves to keep all the best drugs available at a super low rate (except maybe pot), just high enough that they persist as actually extant within culture, and can be utilized for the urban legend psycholgoical 'stayaway' of the 'LSD jumping from building person'. The psychedelics are extremely rare. I am by no means an expert, but in college mushrooms were the hardest to get, then acid, then everything else. EDIT: DMT is so incredibly scarce I've never known anyone to actually get their hands on it. It seems like a myth. It's very telling that meth, crack, heroin, painkillers and cocaine are widely available, so much so even than really good pot or hashish in states where it's not recreation-legal now. Basically, the drugs that kill you quickly are the ones that are most widely available. EDIT: Abusable Plants that will kill you right away are also 100% legal. For example, datura, henbane, belladonna, brugmansia, all the tropanes that hundreds of floridian kids have died from in the absence of 100% safe marijuana as alternative to their curiousity. Note also these are plants used in witchcraft. Sayin'. Killer Drugs Isn't that interesting? It would seem at first that those authorities making these available would want the users to be dead. So why aren't they all dead? The answer is there will always be users, because drug using is a type of self-medication for spriritual and mental disorders--although the classic 'narcotics' only make the situation worse and that's by design. You've heard of addictive personalities? If drug use is a mental disorder, and not simply "angry, stigmatic judgmentalism" against people, then when we stigmatize and berate drug users, we're basically doing the same thing as harassing / bullying a schizophrenic person online, or yelling "you're stupid" at a mentally-retarded person. It's mean. It's unhelpful. You create criminals by creating users and vice versa. We're blaming the victims. Have we ever considered asking the question: who is creating and maintaining and managing the victims? No we don't. Why not? Because we know the answer already, and nothing ever changes. We don't want to ask this question because if we did, then we'd become immediately and fully aware that we have no power to stop it. Since we don't like being tied down and raped repeatedly by our government, we choose instead to love them and align with this. This is the essence of Cultural Stockholm Syndrome. I recommend you stop sympathizing with your rapists. Because these rapists are the ones that occasionally get dupers' delight from mixing in fentanyl with the heroin and killing a user immediately. It's what got Prince. No one is immune to this kind of evil. Public Service Announcement: Drug Harm I want to close by pointing out how bullshit it is that alcohol, tobacco is legal and pot isn't. Take a look at this chart of harm done to self/other by drugs. What's at the top? What's in the middle? What's at the bottom? The answers are alcohol (most dangerous), then cannabis after ALL the other illegal drugs that people actually can get / use / aren't from the 60s and then at the bottom, after steroids...ecstasy, lsd and finally dead last is mushrooms. Harm on mushrooms around 5th percentile (5% harmful) About harm to others: it's vanishingly rare to have someone run over a child when driving while high on pot, yet with alcohol it's a daily event. You don't have a Potsmokers Anonymous where people get to talk about their sad stupid lives and failures to kick a habit, and I'm sure there's a nicotines anonymous but most people I know just grow a pair and quit (ex smoker 10 yrs now). In fact, if you did have a potsmokers anonymous, it would probably be a swingers club where people are either fucking, laughing at something dumb, or eating ice cream.
The Argument Against Proof of Stake (PoS) by Michael Stollaire
The Argument Against Proof of Stake (PoS) by Michael Stollaire Recently, I’ve been interviewed several times, and it’s an eventuality that the topic of how Verge stacks up against the competition in the privacy coin space comes up. The first thing I consider is the method of mining. In short, if Proof of Stake (PoS) is leveraged, that’s it for me. That asset is compromised, and most of Verge’s competition is PoS. I actually had a representative from one of Verge’s competitors tell me that PoS “is the future.” My response was that I was afraid of what the future held. Here’s why I consider PoS the death toll for a cryptocurrency: PoS uses a form of Dash’s Master Node concept. Someone has to have One-thousand (1,000) Dash coins that they “stake” by essentially putting it into a deposit box of sorts. If at any time, the deposit box does not have 1,000 coins in it, the Dash system detects this fact, and your Master Node is disabled. Well, this is a good situation if you were one of the first people involved in any PoS cryptocurrency, when coins cost $1 or less at the time or you were one of the original miners. However, what if you were not an ultra-early adopter? You are in deep trouble. Keeping with our Dash example, the current price for Dash is just over $300, so let’s use that round number in our calculations. One-thousand (1,000) Dash coins at $300 each would be $300,000. That’s right. You can have your very own Dash Master Node for the bargain price of… wait a second. The average price of a house in America is cheaper. Who can afford that?! I’ll tell you who. The one-percenters and the financial establishments that cryptocurrency was invented in January 2009 to thwart. That’s right, just like there are activist investors that buy up 10-25% of a public company’s stock so they can leverage their… you guessed it… STAKE… against the company itself, in order to control who the CEO is, who sits on the board of directors, and the general direction and activities of a company, the rich of the world can basically perform a hostile takeover of any cryptocurrency that leverages PoS for mining purposes. Here’s an example, Warren Buffett, who’s current net worth is $80.3 Billion. There are currently 4,719 Dash Master Nodes online. As we said before the approximate cost of a Dash Master Node is $300,000 each, so let’s have some math fun, shall we? $300,000 X 5,000 = $1.5 Billion. So, Mr. Buffett wakes up one day, and decides that cryptocurrency should play a minor part in his investment portfolio, and he plunks down $1.5 Billion to take over Dash. Since Verge’s other competitors that leverage PoS for mining cost significantly less, it’s that much easier for Mr. Buffett… or any wealthy individual to compromise any of them. Therefore, I would never consider investing in a PoS coin. So, we are now down to three (3) Proof of Work (PoW) assets: Verge, Monero and Bitcoin. Bitcoin is out, because of two reasons. Some might say that the hostile takeover of Bitcoin already took place, as China controls so much of Bitcoin’s PoW hash rate. Please reference the pie chart below. Bitmain’s AntPool is 22.3% of Bitcoin’s total hash rate by itself. https://blockchain.info/pools Also, since Bitcoin is “sort of anonymous” it cannot stack up against Verge, which is a true privacy cryptocurrency that has features now - and in the future… - that will make it the premier asset in this area. Again, in my opinion. Verge also leverages several different PoW mining algorithms to make sure that the chances are slim to none that a hash rate monopoly can take place. Transactions are faster by far, and transactions per second are twenty (20) times that of Bitcoin. The mobility feature of Verge are also secure and private, and… well, that’s it. I don’t really have to go any further, because we can logically deduce that Verge is superior to Bitcoin in several ways. Therefore, only Monero, ZCash and Verge are left. There has been several deep-dives done on Monero, as far as due diligence of their privacy and security features are concerned that bring up valid points about the lack of Monero’s privacy: http://hackingdistributed.com/2017/04/19/monero-linkability After the implementation of the much-anticipated Wraith Protocol™, most would agree that Verge is on equal-footing with Monero, regarding privacy and security features, if not slightly better, and Verge is just getting started. There’s much more to come in the near and distant future, I assure you. However, back to Monero. Another key element of an asset is whether or not it is an inflationary or deflationary currency. Bitcoin has a limit on the sheer number of coins minted, for instance, and so does Verge. They are deflationary currencies that will hold or increase their value over time. But, Monero (and PIVX) has an unlimited supply, just like fiat currencies such as the US Dollar. That means as time goes on, more and more Monero coins will be minted and its value will decrease. Right there, it’s game over, at least for me. However, I do have to point out that Verge has Toi2P “baked in” and this means that both sender and receiver IP addresses are obfuscated. Does Monero do that? No, it does not. On to ZCash. Well, it’s got its fair share of issues. Over six-hundred, it seems: https://github.com/zcash/zcash/issues However, the main issue for me is that they basically had an ICO, just like NAV and PIVX, etc. If you don’t have an issue with 20% or more of the entire supply of an asset going to line the pockets of its initial investors and team, you certainly should. Here’s how one blogger on Steemit put it: “The ZCash team decided to launch ZCash as an altcoin so they were able to fund the development: ZCash has a US-based company behind it and will tax 20% of the mining revenue during the first 4 years to pay off private investors. If ZCash were to succeed, the private investors will benefit greatly from the launch of this cryptocurrency. Although I don't like ICO's, a public coinsale (a form of crowdfunding) would have been a more fair and open way to fund development than seeking money from private investors.” Also… “Another problem with ZCash is the fact that it's brand new cryptography. Nobody can really guarantee that there aren't some bugs in the system that will make it possible to deanonymize transactions or create coins out of thin air. What's more, if coins are being created, it will not even be detectable because, unlike Monero (and Verge), you can't verify the total amount of coins in the ZCash blockchain.” Verge had no pre-mine. Verge had no ICO. The entire Verge Team is composed of pro-bono volunteers, including yours truly. That’s right. We work for free. Why? Because that’s how much sheer belief we have in Verge and we don’t have a “golden parachute” end game like those involved with ZCash. Does ZCash have a multi-algorithm mining methodology to prevent the platform being controlled by a few centralized GPU-based mining farms? No it does not. They can be taken over, just like Bitcoin. Now, there is only one coin standing: Verge. by Michael Stollaire October 31, 2017
Everybody except here is talking about the death of the BITCOIN, about how it is a bubble and when it bursts it will be the end of crypto as we know it. But being around the crypto scene for a little over a year I have started to realise that it is the passion and emotions that have helped drive this market to achieve all that is has in the past. Now all of a sudden China wants to take control of their money and JP Morgan believes somebody is going to get killed because of Crypto. All of this has LED to massive sells and the price of the Bitcoin falling. The way I see it, now is the golden age for Crypto currencies. BTC may be down 10% from yesterday, but it is still 100% up from the beginning of the year. But it is not even about the money. Bitcoin is sort of breaking all the traditional barriers of life as we were shown and as we believed was the correct way to do things. I believe in it because it is tackling a very big problem of letting people decide what they want to do instead of being herded like sheep’s as these big corporations and governments do. There are endless possibilities and opportunities, other than just going to college on a massive loan and then wasting a major part of your life working in a big corporation trying to repay it back to the banks. Every wake of life, someone is taking your money as bank charges, facilitation fee, transfer fee, transaction fee, value added tax, goods and services tax, income tax this tax that fee. What we are left with is a mere 40-50% or even less of actual money that we earn. But now there are more opportunities, other than just going to college on a massive loan and then wasting a major part of your life trying to repay it to the banks. Just this other day, I realised how easy it was to do cross border transactions when I needed some money and my friend was just able to send it to me from across the globe within a matter of minutes. I can’t even imagine the trouble he would have to go through to do the same through a normal bank. Just being around these communities you realise how much potential people have if you eliminate the petty differences and borders. Of course there will be scammers. But I have been scammed by banks and stock brokers too. But it’s just a much bigger deal when it happens in crypto because you have no one to complain to. But in fairness there isn’t much reprise in the FIAT world either other than the fact that someone is hired to listen to your complaints maybe resolve your them. Sometimes they do sometimes but sometimes they don’t. Anyway there have been occasions in the past where all this FUD and rumours have led to crashes and pullbacks, but looking at this chart I have more reasons to believe that this community will figure out a way to sustain the current price for now and then rise up to levels never achieved before not just because it is a money making machine but because we believe in it.
10/19: Jeff Berwick outlines in the Dollar Vigilante the New Crypto Order including: XBT, ETH, EOS and the US$ debt transfer.
I’ve said it before and I have to say it again. I am shocked at how fast everything is moving. When we started The Dollar Vigilante in 2010 we only wrote one issue per month and each month I’d have to think quite hard about the important issues to cover. There just wasn’t that much happening on a month to month basis. Now, I have to literally filter through dozens of important things that have just occurred and try to select a few of them to focus on or this newsletter would be 100+ pages long. The crypto space has become an entire topic on its own with so much happening that we are looking to bring on even more people onto the TDV team with a focus on cryptos, ICOs and trading. This will likely result in an add-on newsletter to TDV because just covering this space alone is worth 50 pages per month in research and analysis (I’ll briefly mention a number of interesting developments further below though). Stay tuned for more on that. In the bitcoin space alone, ignoring all the other cryptos & ICOs, so much has occurred in just the last month. The criminal Chinese government shut down three of the world’s largest exchanges and banned ICOs. JPMorgan has been attacking bitcoin as a fraud - which is laughable coming from that bunch. And the New York Agreement signatories proceeded further with the scheduled SegWit2x hard fork (which Juan Galt will cover in depth in this issue). You’d think with all that happening and the uncertainty surrounding yet another bitcoin fork it would have seriously hurt the price of bitcoin. Nope, bitcoin nearly doubled in the last month. Bitcoin just don’t care. BITCOIN HITS ALL-TIME HIGHS NEAR $6,000 As I write, bitcoin is trading at $5600 after hitting a new all-time high of $5,844.18 on Sunday. For the last three months I mentioned numerous times that I liked the short term prospects of bitcoin over the entire cryptocurrency space as a whole. And that has turned out to be correct as bitcoin has risen from a low of 37.82% dominance in the sector in June to 54.45% now. The total market capitalization of all cryptocurrencies excluding bitcoin has fallen from $97 billion at the beginning of September to $79 billion today. Meanwhile, bitcoin itself currently sits near $94 billion in market cap. It was only one year ago today that bitcoin had a market cap of just over $10 billion meaning it has increased nearly 1,000% in the last year in both market cap and price. Not a bad year! I recall many TDV subscribers lamenting how they had missed out on bitcoin after it had skyrocketed to $150 in 2013 after starting the year near $15. I said then that it was definitely not too late to get in. The same happened after bitcoin surged through $1,000. And, I said the same, “it’s not too late.” When bitcoin hit $3,000 I said the same. With it now near $6,000 I am telling you it is not too late. Here’s the main reason: This is a chart of the money supply or value of gold, bitcoin, Chinese yuan, Japanese yen, euro and the US dollar. You’ll notice one stands out as being miniscule. Bitcoin. Gold is the next closest to bitcoin with a total value of approximately $7 trillion. If bitcoin, which many including myself consider to be the digital version of gold were to one day be valued the same as gold it would have to rise 80x to a value, in today’s dollars, of over $450,000. If bitcoin were ever to supplant the US dollar as a currency it’d have to rise nearly two-fold above that, for nearly $1 million per bitcoin. Will it ever get there? Well, there is absolutely no way to know. And, if it does, it will take a long while. Does it have the potential? Yes, absolutely. If we continue to live in a digital world and the fiat currencies of the world’s most indebted and bankrupt companies return to their intrinsic value of $0, then bitcoin would be the frontrunner to become the new world currency even more than gold due to all of its ease of use benefits. It’s not going to get there without a fight though. And I expect nothing but volatility, crisis and chaos in the years ahead. But consider the fact that there are only a total of 21 million bitcoins that will ever be available. Some data shows that there are over 15 million millionaires in the world today. What if each one of them wanted to own just two bitcoins. There wouldn’t be enough. And what if many of those millionaires begin to realize the entire fiat currency system was on the verge of collapse? The panic buying that would ensue would rise bitcoin, and to a lesser extent gold, to levels so high that sellers would eventually stop accepting fiat currencies whatsoever in exchange for bitcoin. That’s where we could be headed. In the meantime, though, with a rise of 1,000% in the last year a sizeable pullback is clearly possible. Will it happen anytime soon? Truthfully, everything I am seeing says no. Bitcoin, which once was just known by a few of us crazy people here around The Dollar Vigilante is now talked about at every level of business, banking and politics across the world… and a lot of the conversation is, “How do we get some?” And, did I mention, the entire cryptocurrency space is moving forward at light speed. BLOCKCHAIN TECHNOLOGY ERUPTS Considering I was one of the only people talking about blockchain about three years ago it is incredible to see the speed in which this technology is accelerating. Russia has flip flopped on bitcoin countless times now and has just announced it will be r eleasing its own CryptoRuble (CR). Of course, it will be nothing like bitcoin as it cannot be mined and will be issued and controlled by the Russian mafia (government). CR can be exchanged for regular Rubles at any time — however, if the holder is unable to explain the origin of the CR then a 13% extortion tax will be levied. China may be following in Russia’s footsteps as the Director of the Digital Currency Research Institute under the People’s Bank of China hinted towards the creation of a state-backed cryptocurrency. I expect most fiat currencies to become digital over time which will make most people accustomed to using digital currencies… from there it is only a click away to trade in or out of bitcoin and the myriad of other decentralized cryptocurrencies. Coinshares, the issuer behind the world’s first Bitcoin Exchange Traded Note (ETN), has announced that they will be launching the world’s first Ether ETN on the Nasdaq Stockholm. The Dubai Land Department — the government arm responsible for the registration and organization of real estate in the emirate — is now processing and implementing all real estate transactions on a blockchain, with the ultimate goal to have all Dubai properties recorded on a blockchain within the next 2-3 years. This is one area in which I have no trouble with the government using blockchain technology: in the recording of property rights and activities. It will, over time, make government unnecessary in such activities and will enable the economy to transact with more trust and less expense in the form of lawyers. Vitalik Buterin, the founder of Ethereum, has confirmed that 63% of central banks are working with Ethereum. Moreover, 44% of public institutions and 50,000 developers are building applications on the platform. IBM has announced a partnership with Stellar Lumens , a blockchain-based payment processing company, to move money across borders throughout the South Pacific. Merchants and consumers will be able to send money to another country in near real-time, accelerating a payments process that typically takes days. IBM hopes to use the blockchain network to process up to 60% of all cross-border payments in the South Pacific’s retail foreign exchange corridors by early 2018. The Stellar Lumens coin appreciated 150% after the announcement. Basecoin, a form of stable coin, has attracted investment from some of Silicon Valley’s largest funds including 1confirmation, Andreessen Horowitz, Bain Capital Ventures, Digital Currency Group, MetaStable Capital, Pantera Capital and PolyChain Capital. Basecoin is lauded by investors for its unique approach to what's been called the "holy grail" of cryptocurrency – a digital asset able to keep its value free from volatility. The basecoin protocol can be pegged to the value of any asset or basket of assets, dynamically adjusting its market price through the creative use of a combination of tokens. Grid+, the blockchain-based company aiming to provide consumers with direct access to wholesale energy markets, has partnered with Tokyo Electric Power Company (TEPCO), Japan’s largest energy utility. TEPCO aims to leverage its partnership to learn about the potential benefits of Ethereum for decentralizing the exchange of energy, while Grid+ hopes to learn how to refine its algorithms to purchase cheaper energy. Winding Tree, a decentralized market for travel booking, has announced a partnership with Lufthansa, the largest German airline. The Winding Tree ICO starts on November 1. And, Overstock CEO Patrick Byrne has confirmed that his security token exchange, tZERO, will be pursuing an ICO sometime before Thanksgiving. Byrne suggested that the ICO could raise as much as $500m, which would be double the record for an ICO raise. I interviewed Patrick Byrne on Anarchast last month. You can see that here. And, Vanuatu this month announced that it will accept bitcoin in exchange for citizenship— 44 bitcoin to be exact . And we barely mentioned any of the ICO news. That’s a whole other area on its own. I wanted to post this chart, though, of the main ICO’s return to date. As can be seen, buying a small amount of certain ICOs, which have had returns of 10x, 100x and even 1,000x can be very profitable but you do need to be careful. We’ll continue to cover them here and are increasing our research and analysis resources dramatically to do so. UPDATE ON EOS Speaking of ICOs we have had a rough start with EOS which unfortunately, at the moment, is on the right side (loss side) of the above chart. Many subscribers asked me to interview Dan Larimer again and, as I always try to do, I obliged. This interview is exclusive to subscribers for the next 48 hours and then we will put it live to the public. Here is the video . *This video was also livestreamed on the TDV subscribers only Facebook Group here . Due to many things happening so quickly we don’t have time to even email out alerts like this but try to post if we can in the FB group. I realize some people don’t like FBIbook for obvious reasons but even just having a sock (fake) account set-up to access the group gets you access to a lot of valuable realtime info. To summarize, Dan believes the drop in the price of EOS isn’t due to their long ICO period but mostly attributable to the Chinese ban on ICOs. According to Dan, 50% of buying was coming from China. I’ve seen a number of people on the internet and even amongst subscribers questioning EOS. That is fairly normal. I was one of the only people in the world lauding bitcoin at $3 in 2011 and still to this day people say it is a scam, a ponzi scheme or a fraud. I obviously stopped listening to them a long time ago. When I first featured Ethereum in January 2016 near $2 there was a lot of criticism… and while it did rise to the $10 level fairly quickly afterwards it plateaued there for nearly a year bringing out a lot of catcalls about how it was dead. It wasn’t. So, with EOS, it has gotten off to a rocky start but it is also very early stage… and I have said that. However, by the time it is launched in June the price will likely be dramatically higher. So, you can wait and pay more later when the world realizes what a huge advance it is or you can get in early and take a few lumps waiting for the market to realize its value. Dan Larimer outlined a lot of good information on EOS in our interview but afterwards, off the record, he went into detail on many of the projects they are working on… and I can tell you, they have ‘world changing” written all over them. The market doesn’t know or realize a lot of it. And EOS has an absolutely massive bankroll, in the hundreds of millions of dollars, to bring all their projects (which are all related to or linked with EOS) to market. And Dan has an amazing vision. He understands what the market needs and wants - which is often a downfall of most techies - and knows how to get there. He announced this week in the official Telegram channel that EOS will be the first blockchain with unprecedented sub-second block times of 500 milliseconds and sub-second last irreversible block (LIB) providing finality. In other words, the time between a user sending a transaction or a command and being included in the blockchain could be consistently under a second compared to 10 minutes on Bitcoin. So, with a market capitalization of $400 million currently - and a bankroll of almost the same amount - to me this is a no brainer lottery ticket. Sure, like any new product it may fail. But, it may also succeed… and has a good chance of doing so in my opinion. And, if it does, we’ll laugh at how cheap it currently is for the opportunity. In other words, stick with it and if you bought earlier at higher levels look to average down. SUMMING UP THE CRYPTO SPACE Like I said, A LOT is going on in the crypto space. It isn’t going to go away overnight no matter how many times Peter Schiff says it will. Make sure to stick with us here at The Dollar Vigilante, the only financial newsletter in the world that has covered bitcoin and cryptos since 2011. Still to this day most financial newsletters don’t even cover this space… or even avoid it. Their, and their subscribers, loss. Keep this in mind with bitcoin, too. Since bitcoin was launched in 2009 it has actually been in a near-state of hyperinflation… a type of hyperinflation that was necessary in order to widely distribute the coins. That time of high inflation is nearly over just as quite a large part of the world is just waking up to bitcoin. What happens when increased demand meets decreasing supply? I think we all know the answer to that basic economics question. OTHER EVENTS So many other things have happened in the last two weeks but we only have so much time and mindspace to cover it all. I didn’t even touch on what was quite obviously a false flag in Las Vegas. All the typical 9/11 type scenarios have occurred along with a storyline from the LameStream Media and the government that make zero sense. Insiders sold stock of MGM prior to the event? Check . A surge in buying in ammunition starting on 9/11 leading up to the event? Check. Eyewitness to multiple shooters dead? Check . Predictive programming? Check… as I’ll outline here. It is well known by many that Hollywood and the music industry are largely controlled by elites. In fact it also well known that many popular stars are used for predictive programming purposes to influence the opinions of the masses. It appears as if country singer Jason Aldean is one of these celebrities that is being used to convey subliminal messages along with others. As we have come to learn, many of the nefarious plots that are planned by elites are planned decades in advance if not scores of years. With that in mind, there exists an Illuminati card game that contains a “Las Vegas” card. On this card are depicted a jack and ace, something you might see in a game of black jack, along with a picture of a sun. The game created in 1996 has predicted multiple false flags and operations carried out by the elite including the Pentagon blowing up and 9/11. In blackjack, the jack has the value “10” the ace has the value 1 or 11. In this case, it appears the symbology used on this card is conveying that the value of this ace is “1” - A is the first letter of the alphabet and in numerology - which the elites strongly believe in - it has the value “1”. So when you put the two values together you end up with 10/1 - the same day the Las Vegas shooting occurred. Coincidence? Well, if that was all coincidence, which it very likely wasn’t, what’s more, is that Jason Aldean has a nearly identical tattoo that depicts a jack and ace plus his initials are also “JA” the same exact letters. Also, Aldean has a picture of a black sun in the same tattoo. Likewise, sun symbology is heavily used on Jason’s website and album cover artwork. As many of our enlightened readers probably know, the sun is worshiped by many secret societies, perhaps most famously, the freemasons. Remember, this game has existed for more than 20 years. So, the Las Vegas shooting has probably been years in the making. Just take a look at what went on with MK Ultra and the history of such government operations such as Project Mockingbird. This kind of manipulation has been going on for a long time. Another one of Jason’s tattoos is a black cross depicting a red star - a pentagram - in the center of it. And as many people know, many of the Illuminati elites worship satan or have Luciferian beliefs of some kind. And, I didn’t even mention the location of the event, right in front of the giant black pyramid and numerous occult symbology… I get into this in a soon to be released Anarchast episode with Mark Passio. Just remember nothing happens by accident. Same ol’, same ol’. If there is one heartening thing I’ve noticed is that a lot more people are questioning these events. Ten years ago when I was adamant that 9/11 was an inside job false flag death ritual most people thought I was crazy. Now, many agree. And now, many are questioning these events… a positive in my opinion. CONCLUSION What will occur in the next two weeks prior to our next issue? I think it’s a safe bet to say “lots”. So far we have made it through September and halfway through October with no market crash. As I write the Dow we just crossed 23,000. The number 23 is quite an occult number . Could the powers behind the scene be targeting 23,000 before a planned crash? We’ll have to wait and see. As you’ll see below, though, Ed Bugos is not giving up on “the big short.” I’ll be in Austin for the Texas Bitcoin Conference on October 28th and 29th. You can get a discount to the conference by using the code “Anarchast”. And then I’ll be going to Lisbon, Portugal for Steemfest from November 1st to 5th. And, of course, don’t forget about Anarchapulco from February 15-17th, then Cryptopulco on February 18th and the TDV Internationalization & Investment Summit on February 19th! For those mostly interested in cryptocurrency, finance and investment, Cryptopulco and the TDV Summit the next day are the events to go to. You can check out the websites to see all the amazing speakers lined up including Trace Mayer, Roger Ver, Bruce Fenton, Dan Larimer and many, many others. And, unlike many other conferences most of the speakers will be around the entire week, and often poolside, where you can casually chat. That also includes myself, Ed Bugos, Juan Galt, Luis Fernando Mises and the rest of the team from TDV. Phew. So much going on… but we are happy to be one of your trusted sources to help you survive and prosper through it all. Thank you for that! And thank you for subscribing! Jeff Berwick
Explore the top 50 cryptocurrencies with Coinbase, including cryptocurrency price charts, crypto descriptions, and the latest price of Bitcoin and Ethereum. The recent daily death cross on the Bitcoin chart is beginning to rear its ugly head after the world's largest cryptocurrency by market cap failed to breakout above $7,000. Trade volume has ... The Death Cross’s last appearance on the Bitcoin chart, for instance, led to an immediate downside correction of 55 percent. The same happened following the 20-50 crossover in November 2019. The bitcoin price crashed by as much as 28.76 percent shortly after painting a Death Cross pattern. On the logarithmic chart, bitcoin’s price movement is much less dramatic. The early days of bitcoin look especially impressive relative to the first chart. We see bitcoin’s price doubling the number of times. The difference between $2 per BTC and $200 per BTC is significant – even if it looks like a flat line on the linear chart. Taxes. Tax-Smart Investing. ... That “death cross” as chart geeks often call it, is happening now at about the same Bitcoin price level (8,200) as it did then. ... the downside risk of ...
Death and Taxes Deck List 3rd Place GP Richardson Force of Will TCG
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