Carnage In Cryptocurrencies: South Korea Exchange Raids, Trading Ban Prove Governments Are Serious

As one derivatives trader we spoke with back in November put it, “almost everyone needs an exchange.” When you shutter these exchanges or worse, if governments were to make convertibility into dollars, yen, euros (or whatever) illegal, this whole thing would go “poof!” overnight.

David Stockman: If Michael Wolff Wants To See Some Real Idiots, He Should Look At The People Buying The S&P at 2743

“Yet there is something about Michael Wolff’s tirade that deeply resonates, albeit on the other end of the Acela Corridor. We are referring, of course, to the ‘idiots’ who are buying the S&P 500 at 2735 and earnestly debating the pros and cons of bitcoin at $16,000.”