“An understanding of the physical nature of Bitcoin allows us to revisit our previous analysis of the physical characteristics of precious metals, comparing and contrasting them with cryptocurrencies.”
If you were looking for clarity on anything, today was most assuredly not your day.
It’s Friday the 13th…
“For context, Bitcoin’s collapse in value in early September was worse than the collapse in the value of the German mark at the start of the Weimar hyperinflation.”
And now, back to your regularly scheduled programming…
“The past few weeks have been marked by significant rotations.”
“On a purely emotional basis, I was torn between sell everything — hard to do in foreign exchange — and wondering anew whether news itself no longer has any meaning for investors.”
What could go wrong?
There’s always tomorrow.
There will be blood.
“Either way, you gotta be super smart to run a country and sell vol. buddy, okay? It’s not easy.”
Finally, in case you haven’t had enough of “connecting the dots” today, here’s another exercise for you…
“It’s also important to emphasize that, like any bubble based on the Greater Fool Theory, there’s no logical limit to how far it can rise, so fighting the bubble could be just as foolhardy as investing in it.”
“It would take a huge leap of faith to say that crises won’t continue to be a regular feature of the current financial system.”
“With the Fed’s balance sheet poised to contract and financial conditions set to tighten either steadily or abruptly, we fear gold, fixed income, and equity asset prices may suffer a sudden drop.”