My colleague at BOOM Finance and Economics posts a weekly editorial Hat Tip: Gerry: http://boomfinanceandeconomics.com/#/
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THIS WEEK’S EDITORIAL
COMMODITIES KEEP FALLING: As expected by BOOM, energy prices continued to fall last week while the US Dollar Index continued to hold in its uptrend channel. West Texas Crude Oil prices have fallen by 24 % over the last month. The Natural Gas price in the US has fallen by 36 % in the same timeframe and 38 % since early October. Gasoline has fallen by 20 %.
The US Copper price has fallen by 10 % over the last 6 weeks. BOOM still expects this price to fall further in the not too distant future.
The Gold and Silver Bugs will be disappointed by their continued propensity to fall. Platinum fans will be equally distressed by the recent plunge in price.
BITCOIN WEEKEND HORROR: Looking at the so-called “digital” commodities, the Bitcoin price has literally fell off a cliff during Saturday’s trading. It plunged below the US$ 50,000 level. The price of Etherium looks worse – it has fallen off a bigger cliff to below $ 4,000.
Meanwhile, the Market Capitalization of the entire “Crypto” market has taken a hammering and looks like it is heading below $ 2 Trillion. During Saturday’s trading most “Cryptos” fell by 20 % or more — in a single day. When the stock markets open on Monday, the price of the Bitcoin Strategy ETF (Amex Code BITO) will (probably) fall like a very heavy stone at the outset of trading. Holders of BITO are currently trapped in a nightmare over the weekend. But the Shorts will be opening the French champagne.
BOOM has given readers adequate warning of all these events in previous recent editorials. On Thursday, Gary Genzler, the Chairman of the Securities and Exchange Commission (the SEC) in the United States, expressed a strong opinion that the Crypto market should be regulated much more to protect naive investors. He said the market for Cryptos is “rife with fraud, scams, and abuse …..”
He also said “… with a $2.6 trillion aggregate market capitalization and more than 100 tokens purportedly with market capitalizations each more than $1 billion, this is an asset class that belongs inside public policy frameworks of looking after investors, guarding against illicit activity, and protecting our financial stability.”
PRICE PRESSURES CONTINUE: Other prominent asset prices appear to be coming under pressure to fall. In the US stock markets, Tesla, ARKK and the NASDAQ Index look vulnerable to short term falls. Elon Musk is continuing to sell Tesla because he has a $ 15 Billion Taxation bill to cover. Facebook and Microsoft also look vulnerable to short term falls in BOOM’s jaundiced view. Watch closely.
BOND MARKET PRICES SURGE UPWARDS: Again, as BOOM expected, US Bond prices are surging upwards. This has the effect of flattening the Sovereign Bond Yield curve. Thus, Ten Year yields will fall and this will lower US Mortgage interest rates. The housing market will respond to this in a positive fashion.
The head of the US central bank has said that he will ease up further on QE Bond purchases (Quantitative Easing). They call this “tapering”. No problem, others will grab the bonds as they see the prices continue to surge upwards. This is QE by another name — this time the funds are coming from the private sector. However, the Bonds will be bought and that is all that matters because the deficit spending by the Treasury must continue.
TURKISH CURRENCY COLLAPSE CONTINUES: By the way, as an update, BOOM can report that the Turkish national currency, the Lira, has continued to fall sharply against the US Dollar. However, its Sovereign Bonds are being keenly bought now as investors look for a spike rebound. The 5 Year Bond is currently yielding over 22 %. If those buyers get it right, they will see 22% yield over the next 12 months combined with a possible capital gain from holding the Bonds if their prices recover sharply. That game is not for the faint hearted. It is called “catching a falling knife”. Sometimes the fingers end up badly damaged through the bravado displayed by these gamblers.
THE OMICRON: One of BOOM’s readers sent in the following analysis. It is intriguing.
OMI — Object Manipulation Interface, Open Messaging Interface, Operator-Machine Interface
CRON — A command to an operating system or server for a job that is to be executed at a specified time — a “cron job”
In economics, things work until they don’t. Until next week ………… Make your own conclusions, do your own research. BOOM does not offer investment advice.
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It’s time to fleece the masses again.
666 looms on the horizon
It sure seems to be hurtling our way, faster every day!
His four horsemen are certainly loose: economic collapse, plague & famine are threatening Earth; Battles & Wars are being prepared in south Europe, the Middle East and in far Asia; the Eddy Minimum Natural Disasters have begun to stir droughts, fire & ice, volcanos and earthquakes. Evil men rule all the corporations and governments now; TPTB’s MSM feed Sheeple the sweet propaganda of their paid liars, but so many Sheeple are beginning to become sick and die. The Oligarchs are openly & loudly accusing the unVaxxed with crony science (like 79% of the Covid ill are the unvaxxed who are producing and spreading deadly variants). The Evil Elite and the Useful Idiots want the Resistors ” burned at the stake” for the Good of Society. Woe unto the Wicked Kings! Woe unto the Willful Ignorant!
Bitcoin is still near all-time highs. Give it a week or two and look at the price again. For the haters, just look at the long term charts and keep track of prices. It’s the short term volatility that throws everyone off.
The planned destruction of our economy by psychopaths to usher in the Reset is in full swing.
When SHTF many means of value won’t mean squat when you have no way to feed yourself.
My local store’s Ramen noodle section has been empty for two weeks now. The main item that has gone up in price a lot is anything with wheat as the main ingredient. Bad harvests because of weather is a problem. Global cooling and early snows wiped out a lot of recent past harvests. The selling of large quantities of commodities to China wasn’t really smart either.
Factoid #1: When I first started posting here so many moons ago if someone would have said that Pearl Harbor was a false flag, or that our government knew it was coming, I would have called you a Dumbfuk Shit with your head up your ass.
Factoid #2: Now? If you DO NOT believe that Pearly Harbor was a false flag, or that our government knew it was coming, well, I have but 11 words for you ………. you are a Dumbfuk Shit with your head up your ass.
The worm has turned.
Factoid #3: We never went to the moon.
Factoid #4: There are no isolated samples of CONVID, AIDS or Ebola in any labs on Earth.
I think the price of steel and lumber more important than they ever have been, because people are going to have to start building things themselves.
Quite right Ken – see my Letter this Saturday where I cover exactly what you mean. We will all need to become self-sufficient and we don’t have too long to prepare. I am working with my local community to do just as you suggest.
Went to get diesel in our pickup yesterday and it wouldn’t allow over $75. Not sure if this a real problem, or an anomaly. Always worked before though.
Nobody has been able to answer this question, “When the USD drops to its intrinsic value of “0”, what will bitshit, I mean bitcoin, be valued in? USD? “My bitcoin is worth infinity dollars!” Sure. Seashells? Euros? So, what will bc be valued in? Well……….wait for it………………….Gold? How much? How would it be determined what amount of gold = how many bcs? It’s all a con.