Fed Hikes, Gold Spikes, EU Says, “Yikes!”

With Brexit talks in the gutter, Merkel in trouble and Poland flexing its muscles on immigration the EU is staring at an apocalyptic 2018. The Federal Reserve to no one's surprise raised rates a quarter point today. The response from the markets was Europe's worst nightmare because not only did the dollar spike but gold … Continue reading Fed Hikes, Gold Spikes, EU Says, “Yikes!”

Chart School – Ethereum: Anatomy of a Long-Term Breakout

I'm going to show you a chart of Ethereum this morning that should make you stand up and take notice. For months Ethereum was dogged by doubts after its massive run-up to $400 earlier in the year. And those doubts are somewhat warranted. Structurally, I have problems with Ethereum, but at the same time, I … Continue reading Chart School – Ethereum: Anatomy of a Long-Term Breakout

Oil Producers Turning to Crypto to Solve Sanctions Problems

Last week, Venezuela announced it would develop a national cryptocurrency backed by its oil reserves, the Petro.  Now there is a report that Russia is considering the same thing.  Iran will likely follow suit. As of right now this is just a rumor, but it makes some sense.  So, let’s treat this rumor as fact … Continue reading Oil Producers Turning to Crypto to Solve Sanctions Problems

Bank of Russia’s Fears are Putin’s Nightmares

Russia continues trying to extricate itself from U.S. hybrid war tactics, but the truth is they are still not free to set policy independently from the U.S.  The Bank of Russia is acutely aware of this and refuses to lower interest rates to unlock the Russian economy’s potential. The Bank of Russia announced that its current … Continue reading Bank of Russia’s Fears are Putin’s Nightmares

Bitcoin Futures and the Need for Control

I've been asked by a few subscribers to further discuss the potential effect of the major exchanges starting up futures trading in Bitcoin.  Last month the CME Group and the CBOE - Chicago Board of Exchange -- announced they would begin trading futures contracts in Bitcoin due to popular demand. The SEC fast-tracked approval, because, … Continue reading Bitcoin Futures and the Need for Control

Trump’s Tax Cut – FDR Would Be Envious

The first rule of politics is feather your own nest.  President Trump’s tax cut proposal always had this in mind. Congress has passed a bill which tinkers at the edges but leaves most of Trump's core proposal intact.  It's obvious to me that Trump has the political acumen of another brilliant U.S. politician, the loathsome … Continue reading Trump’s Tax Cut – FDR Would Be Envious

Bitcoin, Nuclear War and the “Real World Use” Argument

I received a comment this morning challenging my contention that Bitcoin should be thought of as a foundational asset for the crypto-based monetary system. With Bitcoin inching towards $10,000 arguments like this continue to be made by gold-bugs (of which I’m one) and hard-asset enthusiasts because they make fundamental errors in their analysis of Bitcoin. … Continue reading Bitcoin, Nuclear War and the “Real World Use” Argument

Chart School – Consolidation and Reversal

Something interesting is happening in the Bitcoin Gold market right now.  Yesterday there was a massive move up above $382 after a temporary bottom formed near $320.  Since then the Bitcoin Gold market has given up most of those gains, but what's interesting is how it has done so. Look at the chart below and … Continue reading Chart School – Consolidation and Reversal