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Mistrust of state currency brought about by U.S. efforts to destroy the global dollar-based financial system. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman
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Mistrust of state currency brought about by U.S. efforts to destroy the global dollar-based financial system. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman
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| Mistrust of state currency brought about by U.S. efforts to destroy the global dollar-based financial system. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman |
block chains are credit default swaps…interesting take…any thoughts on the state's monopoly on violence…I just cant see the state allowing this to take root…an alternative to the dollar.
Government wants to send everyone checks, Fed is buying $2T of corporate bonds, how is it not printing money?
Checks are just another way to credit bank accounts. It's not printing money.
Buying treasuries is just swapping interest paying assets for non-interest paying assets. How is that printing money?
All the money is printed i.e. typed into accounts.
@Danger Zone Reloaded It is equivalent to printing money.
Bitcoin consume’s more electricity than Argentina –
https://www.bbc.com/news/technology-56012952
Nice contents you put up always?.BTChits a new bullish price as people increased their bids in hopes of making huge gain from the rise but as we can all see now the market is very unstable , the truth is that you can always make more profit from tradln rather than just hodlin and waiting for the price of BTCto skyrocket . Indeed its a tough decision for both old and newb!es whose intensions are just to hodl and sell but rather the potentials of tradln.Iwept deeply and prayed after the last time i had much loses, my Uncle introduced me to Expt. Rami Asalya who i started tradln with since late last year,i've covered up and made over 21 B T c even with the ups and downs since the journey . With Rami's counsel I no longer have to worry about the rise and dip ofBitcoin. For profess!onal guidiance, you can easily get to Rami on T eleqram; (RamiAsalyaExpert) ?
No Norman. The weak dollar is actually what ensures that the dollar maintains its reserve status. Weak dollar means lots of dollars in the world economy. Accessibility and low funding cost of dollars means dollars will be more widely used for transactions which means Bitcoin will start to feel a competitor squeezing on its gain. Bitcoins rise has coincided with a strong dollar. A weak dollar is its own end.
Waited for u to bring up Bitcoin!!….i remember hearing Yellen's last breifing before leaving the fed, she said "the fed didnt have any intrest in Bitcoin." At that time i was highly intrested in it, but once she said that i blew it off…unsure if it was the right choice..
The fact that bitcoin has a supply cap does not mean it is limited and "will need to be rationed out". One bitcoin already consists of 100 million satoshis and it can be further subdivided if needed by consensus to contain a billion satoshis per bitcoin (and yes, you can buy a fraction of a bitcoin) or if appropriate in the future add as many zeros as you want to the right of the decimal point similar to a stock split. OTOH, bitcoin is deflationary by nature and provides a store of value unlike fiat currency. Bitcoin can coexist with fiat currencies. It doesn't have to replace them.
Bitcoin is not a stable store of value.
@NoExitLoveNow correct it is a appreciating store of value
@Amyn Guy It jumps around due to speculation.
@NoExitLoveNow I never claimed it was currently a "stable" store of value. It may be in the future.
@Jon L A fiat currency has a built in demand because you need it to to pay taxes. Further, there are political pressures to keep the value stable. Still further, there are inflation protected treasuries for even more protection. Why would we want a currency that is deflationary by nature? That would be very bad indeed. As it is not a commodity or a profit making entity it will always be speculative. Further, even if it did one day become a stable store of value, why would anyone want it over inflation protected treasuries? Its only advantage would be for tax evasion, black market transactions, money laundering, and for libertarian wankers to use for self pleasuring purposes.
Don't worry. The Euro will become the default currency before too long. Then you can relax about the US dollar.
Agreed. BTC move is not done by retail. Sure some retail who got in early or is trading it current can make profits. But BTC and other cryptos are no different from some who invest in exotic cars, art, wines etc. But most general public wont or will not, either don’t have the extra money or the stomache, to be in cryptos, despite what many BTC youTuber pumping. The meteoric rise is mostly done by institutions
Also, you can drive exotic cars, appreciate art, and drink wine.
I am confused about how sentiment gives an inverse indication, a drop in bearish sentiment and a increase in bullish points to a possible pullback? Wouldn't more people believing the market was going up mean people would be bidding up prices and adding long positions, adding support and make likely for the market to rise? Or does it indicate overbought conditions? Where am I going wrong here?
Because retail is wrong
@Jess Cornelius ?
Crypto is not money, it is an asset. You can not pay taxes in crypto and that is why it is not money. At the same time crypto allows to do transactions of illegal stuff like drug trading, weapon trading and so on. So, crypto may be a problem, not a positive thing right now. I think so…..
How the heck do you support bitcoin when you understand MMT which means the dollar's final demand is tax
Mike the Bitcoin creator specifically cited the money printing as the reason for creating bitcoin. Bitcoin has a fixed supply for that very reason. Whether "printing money" is a main reason or not behind the bitcoin rise, it is one of the reasons indeed.
Mike, thank you. Your analysis of the determinants of dollar dominance seems dead-on correct, being macroeconomically valid. I agree that US bullying via the global financial system is the biggest threat to dollar dominance.
I mean: we are in a floating exchange rate system, in a way we always have been. Like: I guess you could exchange favors between one town and another in the middle ages, but otherwise contracts were limited by geographical enforceability, which has somewhat but not completely gone away in our globalized system. But in a system such as this one: U.S. relative leverage of GDP against other GDPs is going to determine the relative strength of our currency to other currencies: because currency is simply a token made by enforcement to be the thing that all people eventually owe themselves to getting the more market leverage they want in that society. Currency is commodified social debt, imbued in the commodities of pieces of paper and digital information that carry them. Any other commodity can theoretically be able to be made into a currency, but the question there is simply… why waste money on facetious expenses to make your currency?
Hi Mike, how about your opinion on a "blow off top" in your next vid? I'm not in stocks, but crypto. It is so riducuously parabolic last couple weeks. No pullbacks at all. All green, everyday. Everything is up 10-45% every single day for weeks
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Ive been selling 2-3% everyday, only watching it pump another 20% the next day. Guess Im early to this averaging-out party. Better than late I guess
Speaking of payment systems. I've lived in dozens of countries, and as of late, they all use IBAN. Why is the Police State still using SWIFT? It's so 1985. IBAN has so many benefits, Im speculating that they don't use it because they can't control it/bully it like they do SWIFT?
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The Prison State has threatened SWIFT in the past to cut off certain countries, or face……….wait for it………….SANCTIONS, LOL. (yes, more sanctions. Like an SNL skit)
You still don't get it Mr. Norman. Very very few trust this crypto junk and be very careful investing in it. Aren't you suppose to minimize risk before investing?
History provides insight … feels, smells and looks like the fall of the Byzantine is upon the US … https://www.youtube.com/watch?v=nN1rcKfL2GY&feature=emb_logo
look into XRP