Entering Unchartered Waters

By | May 05, 2019

Entering Unchartered Waters

Stocks are getting walloped in Asia after the Leader of the Free World Tweeted tariffs on China would summarily be raised to 25% from 10% on Friday. I’ll take that to mean Beijing-DC trade talks have hit a bit of a snarl.

You can wait a very long time before you ever see a Tweet, fax or press conference from the Bitcoin-Commander-in-Chief. For, there isn’t one.

We’re entering unchartered waters in terms of classical economics: the belief now in Japan, Brussels, at the Fed, elsewhere, is you can print unlimited amounts of paper money, run deficits out into infinity, and then politicians and central bankers will figure out the rest. Future generations someday will be called in, too, but these people are too young to vote or aren’t born yet, so let’s not worry about them.

Bitcoin is un-manipulatable; though thieves and charlatans en masse have unfortunately made digital assets there new stomping grounds, the actual underlying currency bitcoin is pretty devoid of centralized schemes, plots, twists or turns to debase your portfolio.

I dunno: you’d imagine after 2008 and Lehman, currency wars, hyperinflation, world wars, at least some people would be open for a more balanced system; one that can’t get voted in or out of office.

A hanging-chad free zone, maybe; that kind of thing.

2019-05-09T18:49:42-05:00May 5th, 2019|

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