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Eco/monetary news n°31> Bank Of England chief economist claims US inflation is likely to spread to the UK *********************** After the US inflation reached the "Yarrr you're a pirate - Steal 5% of the public's wealth each year" achievement, the BOE chief economist said their own inflation was likely to catch up. He mentionned the rising energy costs that were already putting upward pressure on prices and that they were bottlenecks in the labour supply. Some people have claimed that companies simply had to pay their workers a decent wage. Fast food companies have started to fire everyone and use robots instead, other companies raised wages and are raising their prices. To be fair low wage workers don't really understand economics so they will be satisfied by the wage rises - "Hurrah" - and it will take them a few years to figure out they didn't really gain anything, at which point they will demand higher wages and government spending, be happy for a few years and then... Hey if they were able to understand this then they'll be able to do more than flip burgers, and they would not even ask about all of this, we wouldn't have the problem entirely. Checkmate. To be even more fair even engineers, doctors, and deputies & senators fail to grasp these concepts. Inflation and economic concepts are not even that complex. So how can we teach the public about it? Worry not the FED has you covered! On June 21 the FED of Cleveland has published 3 lego videos to explain the basics of inflation and broadcast propaganda - errr I mean explain how the FED does a wonderful job at making prices stable and building a fair world for everyone (try not to laugh challenge). > The EU got the US to join their TTC effort (new TAFTA) with little attention *********************** Sure corporate profits went up more than wages. But if you add the ballooning government spending to wages the sum is equal or greater to corporate profits. Before people earn a wage and buy things with their hard earned money. Today they buy half with their money, get the other half from the government. Simple. Which brings me to the comeback of the TAFTA, now disguised as the unadvertised TTC (Trade and Technology Council). Some small media are covering it, there is an official press release (they are obligated to publish everything they do): ec.europa.eu The TTC is a trade agreement between the EU & US like the TAFTA that was strongly opposed, especially by farmers and other self-employed people - do not expect much from tamed wageslaves -, it also gives censorship power to governments and big tech. The TTC is for now under the radar, and there has not been public backlash yet. I do not know much about it, I just know it sounds like more taxes and more government power and control, and people disliked it, and their texts contain words like "democratic", "promoting", "fair" and "climate" way too much for this to not be at least suspicious. > The S&P panic might be over and retail positions are strongly short once again *********************** The S&P 500 once again made a new high, and rallied above it this friday, and closed above the previous ATH. Major Forex broker publishing their retail client positions show that short positions are going straight up, and the ratio is around 4 to 1 short:long. The explanation given for the new high is the market being satisfied with the FED seductive words "Everything is going as planned", "It's not that bad", "Don't worry it's only temporary", "Ignore the FUD it's just noise". Like asking Elon Musk if I should buy Tesla shares or go short. As usual with a planned economy (socialism), "everything is going great!", and the means of production are in the hands of a few, such as Blackrock. So as long as they want prices to go up, prices will go up. You can whine about it, or you can profit from it. Very recently Vladimir Putin, and some top Russian/Soviet spies have compared the US planned economy to their own back then, and the whole situation to the Soviet situation just before the end. So avoid this ridiculous "passive investing" nonsense, and be prepared to run for the exits! I think Gorbachev talked of this too, or is it just my imagination? Probably he mentionned it between 2 sentences while whining about "we could have saved the Soviet Union if only...". Not that it would be relevant... Ramblings of a delusional senile old man... > USDMXN: For the first time since 2018 the Mexican central bank raises rates *********************** The pesos is undervalued relative to the USD by what? 50%? Good guys. Altruists. Seems like altruism has its limits, as Mehico, number 2 sucker to America after China (but really number 3 behind the European Union), seems to want to strengthen their currency a bit. Inflation has skyrocketted, doubling in 2 months to 6% annualized. Their target is 3%. Last time inflation was this high was in 2017 just before the last rate increase. They only brought the rate from 4% to 4.25%. The US suck in all the capital, all the workers, all the entrepreneurs, all the investments. Not much longer by the looks of it. Kill America to Build Back Better. Hey! That may not be what they had in mind but that's going to be one successful operation. It was not fair that this "superpower" (pbui) was sucking everything in, and exporting its inflation. The downtrend is very hard to start (bull markets are born in pessimism), but at some point it accelerates very fast, simple crowd science. Look at crowds that dance. First a few "weirdos" dance all by themselves, for a while. Then a few people join. And quickly it accelerates and trends. And before you know it the people not dancing are the weird ones, the "anti-social", "what's wrong with you? you're in a bad mood?" lmao 5 minutes ago you were saying the ones dancing were ankward autists on drugs. Just a matter of time. As always, it's all about simple patience. Well not too much patience the death of the USD might have already started. Even if US inflation reduces like Japan did in the 90s atfer a quick spike up, there is no way the north americans will continue to suck the whole world wealth, and countries like Mexico will get their fair share. > 10 days after ending the mask mandate highly praised 💉 Israel brings it back *********************** 🙂 Wow, who would have thought? "Take the damn jab and life will go back to normal". They love this phrase "A return to normalcy". "HURRAY! Back to normal!". "Last time they said". Cracks me up every time. What they all fail to grasp is: This is not a video game. There is no magical one size fits all solution that will just beat the boss and move to the next level. This is not a Zombie movie where the ending is Morgan Freeman narrating "And so they found THE CURE and the zombie outbreak (magically) ended and everything went back to normal we rebuilt everyone was happy the end". Children... I am calling it now: - The number of deaths in the US and EU will double, bringing the "over average" peak from ~10% to ~100%. They'll use it for fearmongering. - The restrictions will continue (for a virus or the climate). They've been fascinated by China totalitarian methods and masks for a while. - EU economies will continue their decline, perhaps it will accelerate (how can Greece decline even more?) - Coronaviruses, which are much older than humans, are not going to go away (I have no polite word for the big brains that think so) - There will be other infectious diseases too obviously > Bitcoin hoovering around year lows and there is less than 1 month till TSLA 10-Q *********************** Bitcoin is still around year lows, and by extension at best at the price Elon Musk bought when he decided to gamble his investors (and taxpayers) money. China, just like september 2017, is cracking down on crypto. Bear trap perhaps. Bull whales can still go down before a big rally. Hey where did the Buffalo factory money go? In gambling Bitcoin? So this is where it went? Cathy Wood, a dumb fraud victim famous for getting lucky with Tesla and mistaking luck for talent, has - big surprise - gambled on Bitcoin 🙂 She bought 1 million share of the Grayscale Bitcoin Trust. I didn't really look into it but it has a 30% premium, so it's literally made up of idiots throwing money at anyone that wants to do arbitrage but my gut tells me this is too easy so I'm guessing one simply cannot cash out of this ponzi scheme. I did not do my research all I know is there is a big premium. Ah that's what is great about dumbasses that think they are geniuses. Jérôme Kerviel. Nick Leeson. "Legends" on the internet. 16 years old prodigies. They never learn their lesson without getting hurt. So the really lucky ones are those that lose at the start. All these gamblers and fraud victims get false positive feedback and double up on their risky casino bets. And then get hurt. Badly. "Normies" will brush off smart people and believe scammers, trolls and gamblers. Seems unfair that stupid trolls get lucky. But what's cool is we know for a fact that sooner or later they will get hurt. All it takes is patience. They all end up burning themselves. I hope Elon Musk goes to jail where he belongs. And Cathie Wood gets ridiculed as it should be. Might be soon, might be later. But it will happen.
by MrRenev
Relief Reversal for Bitcoin Is Almost HereHello all The past few weeks have been a very very tough for permabulls. After the historic liquidation session in May, an overwhelmingly bearish sentiment shook the markets and especially short-term paper handed b*tches. On-chain data was not too bright either, leading to the question whether it should be renamed to Ponzi-coin. Bitcoin was going to zero, or so the bears claimed. Then, the historical Bitcoin law passed El Salvador at LIGHTNING speed, which led to a cascade of Latin American lawmakers expressing the wish to discuss Bitcoin in their respective parliaments. Also, MSTR announcing another 500 million of bitcoin buys helped to turn the narrative. Bulls rejoiced and here we are. For now, focusing on the current price action: Bitcoin has been stuck between in a descending channel between the 30k and 40k range, making lower highs with every attempt to break the 40k. Several test of the 30k demonstrated a strong demand zone, so every touch was met by overbidding buyers. The price action got stuck for a while in a symmetrical triangle, which broke to the downside. Bulls didn't allow it and the bearish momentum was broken until finally an inverse head and shoulders was painted. A newly formed demand zone at approximately 36k will be the launching pad for the coming right shoulder. Optimistic traders can look for long trades on a close over the neckline, but more conservative traders can add another major confluence, i.e. the resistance at 40.5k. Either way, risk rewards ratio should be acceptable. If the rocket turns out a dud, or bulls fail to break the 40.5k, will definitely mean more indecisiveness in the 37-40k range and even a revisit of the 30k. Then discussions on how to rename Bitcoin will resurface. If you enjoyed this, leave a like. Comments are welcome.
BITSTAMP:BTCUSDLong
by PumpyDumpy
3
Bitcoin baghodlers will buy ETHER at $2500Always late to the party haha. The Bitcoin ponzi is over. Future is with the new Ethereum ponzi. Better than deadponzicoin by every measure. Let's look at a few charts. It could hesitate before going, but it's pretty fomo so maybe it just goes from there. Hey look at what silver did You'll never be 100% sure. Might even not get filled. In June 2017 ETH came close to flippening BTC, it had I think over 80% of BTC market cap. The absolute bottom of investors, the shoe shine boys heard of BTC so that's what they bought and then BTC/ETH went skyrocketing, but you really think it is impossible we see a flippening in the coming years? BTC sheepish baghodlers are going to miss out - AGAIN - and rage buy at the top - AGAIN - and insult and argue with bears - AGAIN - and hold the bag - AGAIN. The ponzi is dead. Long live the ponzi!
COINBASE:ETHUSDLong
by MrRenev
6
The Cantillon Effect or how the rich steal the poorThe USA have reached the next level of Ultra capitalism: Trump is about to enact a new order to push exploitation to the next level. Workers that produce 100% of their objectives will be paid 100% of their wage, if they produce more they'd get into trouble but it is unclear how, and for each 10% over production they would get paid increasingly higher rates. This has gone too far. The greed for profit has gone much too ... wait what? Oh excuse me this was the communist soviet union wageslavery system, not free market capitalism my bad. Someone make a youtube video asking socialist students what they think of this system without telling them where it is from, or telling them it is from Trump. It will go viral. There are 2 majors ways in my eyes how wealth inequality increases in general (other than extreme ways like straight up robbing a population such as Versailles Treaty): 1- With Urbanisation, but I didn't look into it that much 2- With money printing via the Cantillon Effect What is the Cantillon Effect? Richard Cantillon was an economist of the early 18th century (born 1680s – died May 1734) who wrote "Essai sur la Nature du Commerce en Général" (Essay on the Nature of Trade in General) which some people consider to be the cradle of modern political economy. Something I really like about this man is he speculated on the Mississipi bubble early on (he even helped create the company), he acquire enormous wealth from it, rekting the suckers that bought later on, and until his death, unraged bagholders chased him with lawsuits & even murder attempts 😂 Probably what the future holds for crypto bagholders. Sure they're angry at me now for trying to warn them, and are still listening to "bul market is back" calls but wait a couple more years till they understand they lost their money for good and hunt down the crypto shills. I didn't know there was a term for this and it was publicly known for so long, until very recently. And yes, Karl Marx and the communists fought for the establishment of central banks! Talk about shooting yourself in the feet. People that do not understand why they are angry always defend Karl Marx. He is undeniably wrong here. They'd still argue. Their loss! I find it stunning that economy & finance are never taught at school, at all. I find it stunning that for so long the left has been making populists campaigns advocating for higher taxes on the rich and "free stuff". I find it stunning that for so long the issue has not been solved and never has been mentionned by the left that is "for equality". I find it stunning that the politicians that advocate equality are all pro a centralized monetary system. I dislike Bitcoin, but apart for libertarians who is in defense of crypto? Republicans and democrats both dislike crypto except a central bank run one 😉 "Let's steal from the poor to give to the rich then steal from the rich to give to the poor" The only winner is the government that does all the stealing and has the power to distribute it as it wishes, and takes a hefty cut each time. The population is so ignorant I watched interviews of people advocating for very high taxes sometimes (to pay to turn them into wageslaves and waste years of their lives at school among others) and when they are told "hey but you know the vast majority of wealth gained by the rich comes from asset appreciation, Jeff Bezos did not earn 150 billion in wages, this fortune comes from his company appreciating" they are surprised! 😆 And then of course they call for taxing this wealth, how? No one knows. The only way is to nationalise it all, which works great because as we know Russia and satellite countries came up with all those big tech companies and they now dominate the world, while the USA are a third world poor country with 0 influence and a very weak military. Today Russia runs the world, and the USA are only a wasteland of no importance. Russian men order american mail brides every day. The real causes for the population anger is right here, in front of us, in from of the angry people. Takes 5 lines to explain. And yet... Governments are fighting for more centralization, and they have big support from a population that is addicted to shooting itself in the leg. With the internet and how jobs are computer jobs today, and alot of people found out they could work from home, I expect in the long term - already said this I know I'm repeating myself I'll keep it short - more decentralization but not complete, something hybrid like with youtube: a central platform, with channels ran by (free in theory) individuals. Uber is an example, not really a great success but it's the way forward. More people can leave urban areas. More people can be in franchises or be freelance. The herd of 18-25 are calling for socialism, and alot of adults that should know better, and when told they don't need the government they are perfectly capable (well at least 80% of them, and when they grow up a little) of surviving on their own, they get enraged and call you a dirty capitalist and far right Trump supporter. Maybe the libertarian party in the USA will become a real party one day... Even if in the short term dum dums win and the USA have socialism, it will fail rapidely (faster than Venezuela imo) the result would be somewhere between very bad and horrific, and then decentralization, a new system that is neither capitalism or socialism, should progressively develop. Can't be sure in the USA but in the world in general for sure that's the direction it will go. Less wageslavery, more businesses. Hopefully we get rid of central banks in their current states. Things were much fairer back in the days... People all think (thanks school brainwashing, thanks to all the nonsense they teach) that in middle ages and the era between middle ages and the modern era (age of discoveries/mercantilism) life was hell on earth, a tiny minority owned everything. Oh sure, and people never revolted because they were so broken? When rulers tried to place extremely high taxes they were veyr violent revolts. They tried really high taxes, something like taxes as extreme as 20%, what is this? This is considered ridiculously low today? They won... There is a game, Kingdom Come: Delivrance, alot of people heard of it. I looked up Radzig Kobyla which is a main character, he live in Czech centuries ago, Racek Kobyla of Dvorce, he died in 1416. It's 600 years old. Back when wealth equality was highest on my chart ranging 1300-2000s. He was a landowner, and some sort of noble, i think he became a noble from his deeds or something, I don't know if he started at the very bottom or what but I know he climbed the ranks, and the way he died was killed in a tavern by angry miners over some religious views, after he'd been sent by the king to collect taxes (maybe that's the true reason HA!). MINERS. They killed a noble and his entourange in a tavern. "They seized them in the inn where they were staying, cut their bodies into pieces and threw them out onto the street, where the mob vigorously stomped on their remains and then went in merry song to the home of the preacher to be praised for the act they had been encouraged to commit." Ye, I think if inequality was that high and conditions that bad the population would revolt. I'm sure lots of histories of peasants & mine workers at the bottom murdering nobles over gambling debt can be found out there. Extreme wealth inequality of the early 20th century was the worst it has ever been. And the early 20th century is when we had the worse and the bloodiest wars and popular uprisings. Soviet revolutions, China revolutions and massacres, WW1, WW2, gaz chambers, etc. Come on, does anyone REALLY think those wars happened by chance? LOL! Edit: I have to add 1 thing: The 50 to 60% distribution on the left was achieved without taxes, the 60% on the right counts extreme taxes on every one in particular the highest earners. What must also be considered is the black death 1346 – 1353 that made every one alive wealthier, but looking at the chart it didn't make a big difference in % distribution, maybe it is the reason for the very small peak in 1400-1450.
TVC:GOLDEducation
by MrRenev
10
The greatest PONZI scheme in historyNever in human history have so many been plundered by so few. And the crowd cheers... "Paper is poverty. It is only the ghost of money, and not money itself." - Thomas Jefferson "In no country of Europe," a delegate noted, "is paper money legal tender, but only gold and silver coin." US constitution section 10 article 1: "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility." They try to make those that say it is in the constitution that FIAT isn't legally money look like idiots, they call them conspiracy theorists. Isn't that what this article says? Either way, the ponzi scheme - which the US government accounting agency has called unsustainable for decades (every year they publish a report where they say the same thing) - is about to collapse. The scam has been made complex enough so very very few will understand it, and the few that do understand it can be dismissed as "weirdos" and "pariahs", which luckily for the banks is already the case since the smartest people in the world, the 1 in a million are by definition alone misunderstood and appear weird to common folks. I can't explain this perfectly, and the greatest obstacle, the reason why this ponzi scheme has kept running so long is because people are too dumb to understand it, and don't care but they don't care because they don't understand how hard they get scammed. I posted this several times but it's never super clear. I found a clean video where it gets explained quite well, and on top of that he manages to resist the urge to get arrogant or insult the public, which is completely impossible for me. "The Biggest Scam In The History Of Mankind - Hidden Secrets of Money Ep 4" by MIKE MALONEY. And not just for novices, I recommend this to every one that hasn't watched it yet. We really have to get rid of our bank overlords. Here is a list of some countries spending to GDP. France is at the very top of the list of course, they almost make the USA look reasonable. tradingeconomics.com There is a bigger list on wikipedia. Capitalist countries steal the most from their population to "redistribute" (redistribute to the public what they stole from the public one way or another). Socialist countries steal the least from their population to "redistribute". Biggest scam I have ever seen in history. Haha France is the biggest spender but the shithole with the largest deficit is... tada! Venezuela! In 2020 I expect the USA to steal the top spot in both categories from France & Venezuela. The USA have not just robbed their own people, but also the whole world (because the USD is the reserve currency), so that scam is going to collapse too... They have taxed the world for decades, and when that falls alot of indirect income is gone. Which will make the depression much tougher for them. And interest rates are already at zero. It's an absolute catastrophy for this country, they have no way out. It's going to go boom!
Education
by MrRenev
12
Free money won't be enough, and if it was then it'd be worthlessConversation between a crypto investor in prison and someone that can add 2 numbers: "I'm going to hold onto these 3 cigarettes, as more people come to prison the price will go up and I will sell them for 10 cars! Genius!" "What are you saying you fool, get out of my face, I've never heard anything more stupid" "You will dearly regret your words permabear, you do not understand that those cigarettes have value because people want to smoke them. They CANNOT drop in value" I hope it soon goes down from here, I'm in a hurry to say "told you so". The price of this ponzi scheme can go up when governments, in particular the USA, give free "money" to their populations. A few suckers are always going to spend essential ressources on stupid stuff, a part of student loans end up in crypto ponzi schemes, a part of "stimulus checks" or whatever they call it. The USA ponzi scheme, the us dollar, is probably going to collapse soon, Bitcoin believers actually think when this happens BTC goes up. HAHAHA 😆 They're going to get a violent surprise 🤣 The Halving bull run is over, the US free money is over and the next wave is not for soon, this is a perfect time for this scam to jump down. What a disgusting downtrend with huge pullbacks up. A new world order is coming soon, the perma bull market paradigm is ending very soon. I have never been more certain of it: all that was driving the price up to those super expensive levels were buybacks. The current world order is the USA world order in case you didn't know, and the USA are entering the greatest depression they ever had. I cracked up when I looked at Powell 60 minutes interview, when he was asked "will we call this the great depression", his face, his face man, and the answer! Priceless! 😂 Bitcoin baghodlers that don't care about the global economy and just look at their beloved ponzi schemes, are going to get a violent surprise and a pricey lesson. Bitcoin baghodlers that think Bitcoin will go up when we enter a depression HAHAHAHAHAHA! 😆 Not delusional at all! Yes, I can imagine, 30% unemployment, huge debts, people fighting to survive, going hungry, first thing on their mind "hey let's buy lots of Bitcoin!" Well gambling goes up with poverty, but I don't think it will be enough... Alcatel bagholders were right. And lost over 95% of their money. Sugar bagholders were right. Demand went up several orders of magnitude. How to know where to sell? Draw some arc or something? I don't think this asset class is worth playing with. What an absolute waste of time. The cow is pretty dry. Let suckers slowly lose their money. Not worth the effort. All I know is:
BITSTAMP:BTCUSDShort
by MrRenev
40
Thousands of idiots are sending Bitcoin to scammersAh, crypto. "A study has shown millenials were the most gullible generation and by far fall most for phishing scams". You don't say! They get scammed on the internet several times more than 75 yo grandmas. There is a livestream running on youtube, has been for a while, of a recorded interview of Jack Dorsey, and they are actually telling people there is a giveaway "send 0.1 to 20 BTC and receive 0.2 to 40 BTC (double of what you send) and actually expecting people to fall for this and COUNTLESS BTC HODLING MORONS ARE ACTUALLY FALLING FOR THIS! How can anyone fall for this? How can anyone be that stupid? I reported the video but it's not a video promoting Trump so youtube doesn't care, they need to allocate 100% effort on removing dangerous anti woke videos. The price halving is in 2 weeks, oh it's going to be fun. The scammers are very stupid they have a picture of the address but no text, so no way to copy paste, this will stop a whole lot of people from doing it... There is a Qr code thought, but most people would have wanted to copy paste the address I think. Was easy to put in the description... Maybe then youtube algo detects it more easilly and can block the stream? *Not going to copy the address here* They only received 0.31 BTC? I'm seing lots of people in chat saying they sent BTC... Maybe they're too stupid to understand "minimum 0.1"? Maybe the scammers change the address regularly, maybe 95% of viewers are bots xd But what about the people saying they sent BTC and haven't received anything? Hey you know how it is, every time scams flourish, the top is not very far ;) Plenty of scams going on ==> 'Announced late Friday, the unidentified owner of the site tried to sell the domain to an undercover agent with the Department of Homeland Security's Criminal Investigations unit, who said they wanted to use the site to sell fake COVID-19 testing kits, a plan the owner reportedly said was "genius."' ==> “Fraudsters are leveraging increased fear and uncertainty during the covid-19 pandemic to steal your money and launder it through the complex cryptocurrency ecosystem,” the U.S. Federal Bureau of Investigation (FBI) recently warned. ==> New York State Police Warn of Email Extortion Scam ==> Bitcoin Daily: Alleged Chinese Crypto Mining Scam Nets $11M ==> As you know the "totally legit" crypto exchange FCoin I mentionned a year ago (and got laughed at and "wise" people explained to me why it was not a scam) shut down and thousands of BTC went "poof" ==> New Zealand Police Spotlight Bitcoin Ransom Scam And so on... There is also: ==> Bitcoin (BTC) Miners Antminer S17/T17 Suffer Critical Failure Rate: Blockstream’s CSO (HAHAHA!) ==> In the US, a federal judge has issued warrants for the arrest of David Schmidt and Robert Dunlap. Schmidt is a former Republican state senator in Washington. He and Dunlop are alleged to have sold Meta 1 tokens that they claimed were backed by $1 billion in fine art or $2 billion of gold. The SEC froze the cryptocurrency’s assets and charged the firm’s operators with fraud on the grounds that there were no tokens. The defendants, together with Nicole Bowdler, who claims to be “an Earth Angel” in touch with the angel Metatron, were charged with fraud. (lol) ==> Bitcoin Scam: 14 Chinese Men Arrested in Malaysia for Allegedly Luring Investors into Fraudulent Cryptocurrency Investment Scheme Even they sorta admit it: cointelegraph.com The principle with this Ponzi is simple Alcatel-Lucent "Every one will always need sugar" "One day sugar will be every where and every one will eat tons of it" "One day optic fiber will be installed in the whole world" "One day every one will own mobile phones" Yes, food commodities are insanely volatile. They have a sugar chart going back before 1800 here: www.winton.com It's going to be years before seing BTC 3 digits :(
BITSTAMP:BTCUSDShort
by MrRenev
7