So, what are we left with? A state-issued scam coin that is not "backed by oil" but by the government's willingness to accept it for taxes and "services" (in Venezuela only, of course) and which will help Venezuelan tax collectors track down every transaction in the country's digital economy. In other words, a $735 million-in-one-day hit with investors.
A perfectly predictable thing happened when the Great Oil Price Plunge of 2014 pulled the rug out from Venezuela's oilconomy: Foreign creditors stopped lending to Venezuela, the debt-saddled government devalued the currency to cover budget deficits, inflation spiraled out of control (entering a death spiral last November), and, perhaps inevitably, the government defaulted on some of its $US bonds. (And all this amidst devastating US sanctions of the country).
The result, as anyone who has been even casually following the headlines coming out of Venezuela has no doubt noted, has also been predictable: Chaos. Pandemonium. Desperation. People eating zoo animals. As I say, we've all heard the horror stories.
Another predictable outcome of this economic collapse: People started turning away from the bolivar and the increasingly-pricey US dollar as their preferred medium of exchange.
But here's where things get interesting. When faced with this crisis, Venezuelans didn't trade in their increasingly worthless government-issued fiat for gold and silver and other precious metals, but bitcoin. That's right, as the prices started to rocket out of the stratosphere, people found the loophole in the system (as they always do). Everything you need to survive in Venezuela is now cripplingly expensive: Food, clothing, medicine. But not electricity. Because of the country's socialist policies, electricity is practically free. And practically free electricity in an inflation-ravaged country in this day and age can mean only one thing: Bitcoin mining!
And so it was that thousands of Venezuelans took to Read more
As always, the people know that the markets are rigged, that the dollar is a paper promise with nothing to back it up, and that the central bankers and their financier cronies are not the "Wizards of Wall Street" but the "Wizard of Oz," i.e., little men behind a curtain desperately trying to distract the public with their hocus pocus parlor tricks.
No matter where we look, we see it. The media lies, the politicians lie, the markets get rigged, and we’re left to try and navigate through this mess. It gets frustrating. You find a stock that should be trading considerably lower. Their balance sheet stinks like 5 day fish.
So Flynn pleads guilty to making false statements and the Judge accepts the plea. But then shortly after that judge was taken off the case, with no public reason given. But wait this all gets better. Really.
...selling naked puts is a very profitable thing to do if you are right in your assumptions of where the stock is heading. If the trade goes sour though...you will lose money quickly.
What these latest headlines speak to is the fact that investors who have been riding the waves of BOJ-fueled euphoria in the rising Japanese stock market are now freaking out that the central banksters are getting ready to take away (as even CNBC calls it) the "punch bowl" of central bank funny money.
There are all sorts of options plays you can have fun with. I suggest that 90% of the people should stay with the absolute basics of trading options, and that simply means buying call options if you think a stock is going to rise. It means buying a put option if you think the stock is going to fall.
But for those worrying over the potential for the Big Brother police state to read your thoughts and arrest you for thought crime in real time... relax.
We’re mired in a global debt and derivative “bomb” that is Mathematically impossible to get rid of. We’ve got quadrillions in derivatives and even the best experts suggest that they have no way of knowing how many millions of people would be affected by the failure of just a tenth of them.
...without further ado, I present five ridiculous new year predictions that I guarantee will not actually happen this year!
It’s a really good question, because one thing I’m very certain about. IF and it’s a big if, the Central banks stop their insane printing, the entire world will enter a recession of fairly epic proportions. Is that in the plans somewhere?
We have a choice in all of this... When you buy an Echo Dot for your home, you are making a choice. When you search for something on Google, you are making a choice. When you upgrade to the latest fondleslab so you can take advantage of Face ID, you are making a choice.
The corporate windfall from the great GOP tax scam will go for share buybacks, executive pay and bonuses, along with greater ability to grow larger and more powerful through mergers and acquisitions
Democrat. Republican. When it comes to this collusion story, there’s no real difference.
How could it possibly have taken so long for such an obvious and undeniable truth—that sugar is the key culprit in a range of diseases and disorders—to be acknowledged?