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"The Berlin Stock Exchange remained open during World War II, though price floors and capital restrictions kept the prices of shares from falling until the devaluation of 1948."


There is an important lesson for gold markets in Robin Hood reportedly going "sell only" on GME & AMC:

If bullion banks are short gold into a gold re-pricing event like GME just went thru, paper gold will likely be settled in cash at the pre-spike paper price. Caveat emptor.


Unions are not always saints; w/that said, a big part of the reason we shipped mfg jobs to China was to break unions, which we now know did NOT work out well for the US.

If we want the US to thrive, we must start thinking strategically & synergistically, instead of adversarially
RT: @Marco Rubio
National teachers’ union (not teachers) are saying they won’t go back to work until 2022. We should not send a single taxpayer dollar in Covid funds to schools that aren’t going to reopen.

When I gave this interview last week, it seemed to me that investors were too complacent that a change in the calendar & in the occupant of the White House meant things would calm down, but I didn’t expect craziness this quickly, LOL
RT: @Abhinav Munshi
@LukeGromen nailing it again. “I would be a buyer of chaos” via @YouTube


In Weimar Germany, the optimal way to deal with taxes was to delay paying them for as long as you could.

For BTC holders, the optimal way to deal with taxes is the same (unless the Fed takes real rates significantly positive.)
RT: @Georgist
@LukeGromen @profplum99 this won't happen as BTC won't be the ccy you pay your taxes in.

Boomer kids don't get it either as mostly education is dire. They know the current system isn't feasible, that's it.


Thanks for having me on the show - really enjoyed our conversation.

To be clear, the significant expansion of unallocated paper gold claims in recent decades has been a key factor in keeping gold's price from responding in a manner more akin to what BTC has done in recent yrs.
RT: @Kitco NEWS
Here's why the price was 'managed by government' and what stopped it from already hitting the $6,000 an ounce level, according to Luke Gromen
@LukeGromen @davidlin_TV #

Yes, & the "competition b/t states" that has US policymkrs most concerned is the one b/t China & the US.

US policymkrs have only recently realized what people in places like Cleveland have known for 15+ yrs: China can & will win the game unless we make a big "2nd half adjustmt."
RT: @Preston Pysh
@LukeGromen You mean competition between states works?


The jailbreak we see away fr high-cost, high-tax states toward alternatives is also happening w/capital.

US policymakers are increasingly concerned abt this, but unless they devalue the USD first, any steps they take to combat it will be like performing a root canal w/a shotgun.


This is a fitting take. The reality is so dark even I'm afraid to go there.
RT: @Luke Gromen
@Darky999 @RaoulGMI @AshBennington BTC is perhaps the cleanest expression of the first bursting Global sovereign debt bubble in 100 yrs IMO.

There’s a reason why the BTC chart looks so much like the chart of gold in Weimar German marks


For me, perhaps the most jaw-dropping moment of the excellent Mike Green & Nic Carter conversation w/Grant Williams was the passage below where Mike paraphrases Karl Marx's famous line, "From each according to his ability, to each according to his needs" to argue against BTC.


History books will one day note that it only took 50 years from the time Nixon closed the gold window for paragons of capitalism like Lloyd Blankfein to be converted into cheerleaders for a system with CCP-like state control of money and the US economy.
"If I were a regulator, I would be hyperventilating at the success of it at the moment and be arming myself to deal with it," @lloydblankfein says about bitcoin. Watch to see his concerns over how to regulate the curren

Mike is technically right, but his point was of little consolation to bondholders whose interest rates were consistently 500-800bps < nominal GDP growth for the time period Mike notes (as those bondholders therefore saw their purchasing power significantly reduced.)
RT: @Michael
2/2 The periods of high inflation from 1946-1948 and then again in the 1970s had a minor impact on debt reduction. Vast majority of the reduction occurred during the high real growth of 1950s and 1960s when infl

Looking forward to this!
RT: @Grant Williams
1/ The penultimate free edition of The Grant Williams Podcast is now LIVE.

@profplum99 and @nic__carter join me for a civilized debate about , and the future of cryptocurrencies.


“Who needs production facilities when we can print USDs & have someone else make stuff cheaper for us?”

-US policymakers since 1994
RT: @First Squawk


What’s equally if not more crazy is this is happening in Cleveland and Indianapolis too.
RT: @Sean McLaughlin, NLD 📈
Latest in Denver Real Estate insanity:

I put an offer out on a house $75,000 ABOVE ASK.

Was outbid.


Tremendous (and very timely) thread:
RT: @Sahil Bloom
In 1983, a 52-year-old senior executive at Texas Instruments was passed over for the company's top job.

He would go on to found and build the most strategically important company in the world.

Who's up for a story?



Billionaire Paul Singer has a warning for his fellow investors: 1970s-style inflation can happen again, and almost nobody is ready for it.


Some of the same economists arguing against BTC also extolled the merits of offshoring a quorum of the US industrial base & middle- & working-classes to China a few years back.

How’s that one working out for us?


I said it yesterday, last week, last month, I'll say it again:

Given that:

a) the US needs increasingly negative real rates just to keep the wheels on the cart &

b) gold's inverse correlation w/real rates; goes gold, so too will go the US & global financial system. 🍿🍺


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Macro Economics, Stocks and Crypto