Bitcoin Crash November 16 2021: Bitcoin
Is Not An Inflation Hedge
Posted By: harleynyc, 11/16/2021 12:11:34 PM
So today the cryptobear in me is looking at crashing bitcoin without the shock or surprise many will be experiencing. This is what bitcoin does. It booms and crashes. It could as easily be $20,000 as $80,000 in the next few weeks up to Christmas. Bitcoin and Ethereum are most spectacularly volatile assets. They are trader paradise. Now I’ve written about bitcoin being digital gold for years but it is not exactly like gold, and while it does a better job than gold as a haven asset it isn’t an inflation hedge like gold.
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So today the cryptobear in me is looking at crashing bitcoin without the shock or surprise many will be experiencing.
This is what bitcoin does. It booms and crashes.
It could as easily be $20,000 as $80,000 in the next few weeks up to Christmas.
Bitcoin and Ethereum are most spectacularly volatile assets. They are trader paradise.
Now I’ve written about bitcoin being digital gold for years but it is not exactly like gold, and while it does a better job than gold as a haven asset it isn’t an inflation hedge like gold.
The fate of President Biden’s multi-trillion-dollar social spending agenda, the “Build Back Better” plan, has consumed the political conversation in recent weeks. Amid all the furious attempts at reading political tea leaves, a curious fact has flown under the radar: The latest iteration of Biden’s plan includes one of Rep. Alexandria Ocasio-Cortez’s worst ideas- a US Civilian Climate Corps
The White House released a pre-recorded video Tuesday night of Joe Biden making an Oval Office address in which he claims to have saved Christmas and Thanksgiving this year by solving the supply chain crisis “several months ago.” Biden said he spoke with CEO’s of large retailers (and shipping companies) on Tuesday, all of whom he says assured him that everything is much improved. Biden promised Americans that unlike last year they will have what they want for Thanksgiving and Christmas.
Microsoft founder endorses Police State to deal with COVID-19. The world’s most influential “public health” advocate has come to seemingly doubt the technology behind mRNA injections, following their deployment into more than 7.34 billion arms worldwide. A little-noticed interview from last week with a U.K. think tank saw Microsoft founder Bill Gates make some incredible statements about his most prized “solution” to the pandemic.
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“With the authorization of COVID-19 vaccines for children 5 to 11 years old, it is more important than ever that families have access to accurate, science-based information.
A federal appeals court blocked the Biden administration’s vaccine mandate on Saturday, just two days after the administration issued the law through the Occupational Safety and Health Administration. The rule requires employees at companies with 100 or more workers to get the jab by Jan. 4 or be tested for the virus weekly to avoid getting fired or racking up massive fines.
This week's Golden Horseshoe goes to a broad sweep of federal agencies for a systemic lack of transparency that is hampering efforts to monitor many billions of dollars in COVID-19 relief spending, according to a report by the Pandemic Response Accountability Committee. Snip/ 51,000 awards worth $347 billion that supported the pandemic response (as of June 15, 2021)," the watchdog reports in the summary entitled "Dead Ends in Pandemic Relief Award Data."
President Joe Biden marked the 20th anniversary of the 9/11 terrorist attacks by criticizing Americans for the anti-Muslim anger that occurred in the United States after the attacks took place.
“We also witnessed the dark forces of human nature. Fear and anger. Resentment and violence against Muslim-Americans — true and faithful followers of a peaceful religion,” Biden said in a prerecorded video published for the occasion.
The president said that the principle of “unity” in the country was endangered by the attacks but ultimately prevailed.
Joe Biden’s speech on COVID was bizarrely incoherent.
He told the American people without qualification that fully vaccinated people are at incredibly low risk: “Only 1 out of every 160,000 fully vaccinated Americans was hospitalized for COVID per day.”
Then he promised to shield them against the evil people who are threatening their very lives: “We’re going to protect the vaccinated from unvaccinated coworkers.”
But Joe, you just said the vaccinated were already protected!
The Taliban has seized US weapons left in Afghanistan worth billions — possibly including 600,000 assault rifles, some 2,000 armored vehicles, and 40 aircraft, including Black Hawks, according to reports.
The US gave the Afghan military an estimated $28 billion in weaponry between 2002 and 2017 — including seven brand new helicopters delivered to Kabul just a month ago.
WASHINGTON — For months, the Biden administration was stockpiling military equipment for the Taliban before the collapse of the Afghan government. The report comes from Reuters who shares that well over a month before the Taliban’s march across the country, the Biden administration was sending military equipment to Afghanistan amid a “planned withdrawal.”
The overbearing hands of former U.S. President Barack Hussein Obama are all over the heartbreaking human crisis in Afghanistan.
It is Obama’s former Vice President who will go down in history as the president who botched the pull out of American troops from Afghanistan, leaving thousands of Americans and Afghan citizens to the epic brutality of the murderous Taliban, before cutting and running to Camp David—as if it none of it were even happening.
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As RedState reported at the time, Garland’s statements surrounding the targeting of parents as “domestic terrorists” simply did not add up, with his mix of denialism and unwillingness to address the issue only adding to the suspicion that the DOJ had and continued to act improperly.
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Kamala Harris is a very weird person
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When Kamala Harris considers movie titles that make people think of her, she probably goes straight to “Wonder Woman.” I have news for her: Every time she opens her mouth, people are wondering, “What Planet Are You From?”
It’s pretty clear everyone in the White House hates her and is blame-leaking to every reporter around in hopes of emerging from this explosion in the stink-bomb factory without carrying any failure fragrance.
Kamala Harris' niece Meena has said parents can teach 'anti-racism at home' by telling their children the U.S. was founded by white supremacists and by filling their bookshelves with the works of 1619 Project founder Nikole Hannah-Jones. In a Washington Post op/ed published Tuesday night, Harris detailed how parents can educate kids by talking to them about the 'racism' that shapes America and how the country was 'stolen from Indigenous people'. She also took the opportunity to promote her own book club, Phenomenal Books, 'which spotlights the work of underrepresented authors, particularly women of color.' 'It's time all American families start taking time at home to discuss the injustices
During a signing ceremony for the infrastructure bill on Monday, President Biden praised the governors across America he worked with as vice president in the Obama administration—“save one.”
He then took a potshot at former Gov. Sarah Palin without naming her, explaining, the one who "can see Alaska from her porch.”
Biden got the “Saturday Night Live” joke completely wrong, given that he should’ve said Russia, not Alaska. Palin lives in Alaska so obviously she can see Alaska from her porch.
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President Joe Biden on Tuesday placed a travel ban on government officials from Nicaragua from entering the U.S. following Daniel Ortega's victory in what the White House called a "sham" election.
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The nation's top infectious disease expert says he believes the definition of being 'fully vaccinated' against COVID-19 in the U.S. could change to include booster shots. Currently, any American who has received both shots of the two-dose Pfizer-BioNTech or Moderna vaccines, or one shot of the Johnson & Johnson vaccine, is considered fully vaccinated. But Dr Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, said this may need to change to include extra doses. 'In my opinion, boosters are ultimately going to become a part of the standard regimen and not just a bonus,' he told Axios on Tuesday.
The second-ranking general in the US military has sounded the alarm about China’s weapons development — warning that Beijing may soon have the capability to launch a surprise nuclear strike against America.
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Herd immunity against the virus that causes COVID-19 may be impossible to reach, a federal health official said in little-noticed remarks earlier this month.
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Is Joe Biden plotting with House Democrats to replace Kamala Harris?
Sure looks that way, given some curious goings on reported by Fox News's straight-news congressional correspondent, Chad Pergram (snip) The Pergram report follows from another rumor just a day ago of a Biden plan to kick Harris upstairs:
Rumors have circulated that Biden may even be considering nominating Harris for a Supreme Court seat if one becomes vacant so that he can select a new Vice President. (snip) What's significant about that is that Joe has decades of friendships, alliances, and honor-among-thieves relationships throughout Congress. Harris, by contrast, has few allies, given her self-serving and ambitious nature.
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I posted this to point out that Bitcoin has attracted taxcheats. Case in point: Property seller wants Bitcoin @ 20% over market value because buyer uses his Bitcoin with unrealized (untaxed) gains. Example- Buyer paid $100K for Bitcoin, now with $10M buying power. They could go 1 step further and record sale as 'nominal consideration. No bank deposit on record !