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US fiscal policy Reminds me of a story by some southern US comedian.....on a flight....engine out....and swinging back to departure airport.....the guy next to him was freaking out....asking him how far the remaining engine would take them ? His reply "TO the scene of the crash"
Fair Point....it's just I get tired of the pantomine......are all the city boys so green they even take this **** seriously ? The amount of dollars the US has printed which has doubled in a few years expotentially....if they didn't have the printing press for the reserve currency they would have been Argentina way way back
He has talked about rates and inflation and he will act to changing conditions. He's said what was expected. He can't spook the markets and there is no reason to. What did you expect him say?
I am looking at this FOMC baloney 15 billion taper a month and no talk of rates whatsoever.....I am trying to find an analogy..alcoholic cuts out 1 small beer a day and carries on as normal....I'm not sure that really cuts it...alcoholic vows not to drink the last drop in each can ? I am surprised gold hasn;t exploded upwards....inflation is left to roam freely and a taper of no consequence that they will cancel out(and alot more) behind the scenes meaning THERE IS NO TAPER...it;s just for SHOW
Lol
It also stinks of being a liquidity trap which really helps TPTB suppress Gold..funny that ? What's the old adage see what they do not what they say....what do CB's hoard ? Not BTC...not Copper....not even Silver......GOLD
Plus the manipulation and collusion amongst the whales all fine in the wild west of something completely unregulated. ALl the old scams going back a hundred years legislated out of existence have found a new home....particulary the whales pump and dumps...it used to be called painting the tape
I understand it very well better than most crypto fanatics and that's what riles them :) What is even more curious a lot of crypto fanatics have little to no understanding of financial markets...we are talking diddly squat...so they don;t really understand crypto and they don;t undertand the universe it exists in. Yes many have done well by sheer speculation and timing and the lesson I learned is just because something stinks if others don;t notice the smell and see gains in it you should seriously look to join the party when it starts. Like most ponzi schemes it can be worth a punt.
As I have said before BTC is an utter failure at what it set out to be so like most rogues it reinvented itself. It's not a peer to peer currency it touted itself as, it's a vehicle of speculation nothing more...it;s the Emperors new rags reimagined.....it can only climb higher via the dumb schmucks getting on board as a ludicrous valuation.....while the BTC early crowd cry from their palaces like Marie Antoinette...can;t afford BTC...let them have Satoshi's....
Hardly any holder posts but lots of non holders posting their displeasure- you clearly fail to understand crypto so would suggest you remain out.
Happy to ignore if hodlers stop banging the drum but they don't because they want the ponzi to carry on ponzi'ing so like all ponzi schemes you need new entrants to replace those exiting and even more entrants to raise the bar. That's why I can't resist pointing out the boat has more holes in it than a swiss cheese !
Who cares, cryptos continue to rise... yes for now, but they continue to rise...
I've held a small % of my portfolio in it (the main ones) for years and so glad I did/do. My next biggest risk investments, GOLD stocks, a bit more in this, the vast majority of my portfolio being in lower risk equities and property.
I fail to understand why people keep whining about crypto- either get with the game, or don't and ignore, it's really that simple.
To be fair to crypto the dollar isn't backed by anything either since 1971. And neither are the other fiats but i single out the dollar as it had a commitment(Bretton Woods Agreement) to be backed by gold which it reneged on...(have the yanks ever kept their end of a bargain ?) So it's backed basically by a complex network of shady agreements to keep it the reserve currency backed by military force) It's basically worse than many other fiat currencies which operate on trust.
BTC touted as a utility peer to peer currency was as successful as a cheap firework with a bucket of water thrown over it ! Immediately the BTC ravers screamed "it's a store of value" some muppet mispelled hold and hodl was born. Add the mysterious unidentified origins aka the mysterious Satoshi next add the vast majority of BTC is held by mega rich whales most BTC is owned by less than a thousand whales and of those the largest percentage is probablywith circa 200 Whales. Sound like a viable future hard money currency to you ? Sound like a universal peer to peer currency to you ?
Just seen the Squid coin has now been declared worthless in seconds. As all cryptos are not backed by any physical asset or a guarantor then technically they are worthless. Bitcoin was never meant to a store of value and was developed for its blockchain which has now been surpassed by other cryptos in its development. There is no defined value on any crypto and people will pay whatever thinking that it can only go up which it will, but will also come down. It is a casino on which most will loose money like any pyramid scheme. Just a matter of time before most cryptos vanish.
In order to control inflation and the economy in general governments use interest rates and print money etc, as necessary
My understanding of crypto is that it is immune from these actions and stands alone as its own store of value [ or lack of ! ].
It is difficult to see how crypto can become mainstream when it can,t be manipulated in value by government intervention
You couldn`t make it up but there is that much money to be made in cryptos and also losses. The King is in the Altogether springs to mind. Double ponzi is a very good description for that is what it is. Nothing based on nothing = NOTHING.
I had a wry chuckle of late at the emergence and seeming approval of BTC ETF's which apparently like Gold ETF's will have no link to the underlaying (in BTC case) so called asset. Something that doesn;t exist not linked to something else that actually doesn;t exist.....It's like a double Ponzi
Is that the same Crimea that had the west not meddled in Ukrainian politics would still be part of Ukraine ? TPTB are oft so stupid and ill informed they have probably never heard of the law of unintended consequence let alone stand any chance of predicting the more obvious consequences of their meddling ! This is how all conflicts have happened throughout history **** for brains up the top and buy do we ever have some **** for brains in these times. Of course in the past when they started regional or global conflicts out goes the rallying cry to the masses to come go die for them while they stay warm in their bastions of power. Just like certain politicians in the US saying "we need to go back into Afghanistan" as Blackadder would say "We "We" ? because you sure know as Captain Edmund Blackadder would it won't be those mover and shakers in political circles going anywhere near the place ! Th'at's what other peoples children are for in their narcissitic heads...
The people in Crimea seem quite happy how it's all panned out by all accounts
Well, perhaps you are partly right. Indeed Mr Putin is still living in the USSR era. He still thinks that Russia still rules many other Eastern European states.......hahahahaha
Quite right. It just scans better with USSR vs USA. Apologies to Georgia, Lithuania, Latvia, Estonia, Checknya, and all the Stans. However, the way Mr Putin operates one could argue that we are returning to a quasi USSR state of affairs e.g. annexation of Crimea.
What, USSR? Is this the 1980's? Are we still in the Soviet Union era? Is China's chairman Mao still alive?......lol
Minecheck, spot on. The bias leads to a mispricing of risk and a consequently high comparative yield. Jim Rogers has been investing in Russia for ages and sees many of the advantages you identify. There are also advantages derived by Russia establishing itself as self-sufficient following US sanctions. Excluded from the US controlled international bank clearing system, Russia is the first of many countries to establish mechanisms to circumvent Uncle Sam. The US has had it's bluff called and has undermined its own existence in the process.
Russia has vast amounts of land to exploit, huge mineral wealth, a well educated populous, a highly efficient and cost effective military, sound currency, good relationship with China, access to the north pole, huge swathes of land becoming productive due to global warming and a strong authoritarian government.
On the downside you have corruption, potential terrorism and an authoritarian government. On balance I see USSR as a better bet than USA. The truth will out eventually. GLA. In Gold We Trust.
....just like an anti-British prejudice is sadly ingrained and legitimised in Russia? Surely no.
Minecheck - you have articulated my own thoughts perfectly - thank you.
Great observation Spindler. Poly suffers from operating in Russia, the heavy Russian ownership, and the perceived geo-political risk associated with Russia - all of which are baked into the price.
Personally I see this as an opportunity to take advantage of the West’s myopia because ironically, whilst it is western states which are crumbling around them into a morass of self hate and decline, the markets are too busy virtue signalling to notice that Russia is a fundamentally stronger state with low debt, political stability and a mining friendly environment.
Hence the 7% yield which appears stable if not likely to increase. Normally such returns would be worryingly anomalous. In Poly’s case they seem to reflect anti Russian prejudice which is sadly ingrained and legitimised in the UK.