Bitcoin

18
Sep

I’ll wear cashmere and you’ll eat cake

Debt works You might look around and wonder. I do. Here is Australian retail store Harvey Norman with their latest offer. The offer has some interesting components: No interest for five years. Quite compelling, except that most things Harvey Norman sells will be obsolete in that time. The gift card is worth 5% if you

10
Sep

It’s a Bubble

Bitcoin price falls Cognitive dissonance Thinking one thing, behaving differently, getting stressed as a result I accept and have accepted since I first discovered it, that bitcoin could go to zero. I remind every investor of that possibility. I believe the possibility recedes with time, particularly as the code base ossifies, but it exists as

13
Aug

The confidence game

The confidence game “We have every confidence in the ability of [person about to be sacked]” It happens all the time, particularly in sport. Confidence needs to be reinforced which means, it’s gone. Fiat currency is a confidence game too. You cannot redeem it for gold any longer and when confidence goes, the stampede for

06
Aug

Death or Glory

Q2 2020 You wont forget Q2 2020 for the rest of your life. For many businesses it was hard, for some it was the end. For others, like Square in the US, it will be remembered as a break out quarter. Their bitcoin sales increased to $875m in Q2, up 185%. Bitcoin miners mined $1bn

17
Jul

Depression

Is it really bad for bitcoin? You would likely have read about the huge twitter hack on Thursday targeting well known accounts, nearly all of them “blue ticks”. Jeff Bezos, Bill Gates and Elon Musk to name a few. Once again this will bring the focus to bitcoin and how it is very often associated

15
May

Ghosts haunt Christine Lagarde

The ghosts of the Weimar Republic Germany has been incredibly tolerant of its spendthrift Southern neighbors. The Greeks want to retire when they are 23 having served a 3 day week. The Italians want unlimited deficits and permanent chaos and the Spanish are still in bed, they don’t even know they are in the Euro.

05
May

You own nothing.

Price The best advice I can give about the bitcoin price is not to look at it. Over time the price has risen, although it does so in a non-uniform manner. This year is a great example, we have been to $3,900 and $10,500, the sort of volatility that can age a person. Perhaps a

17
Apr

Good money, bad money, no money

The Bank of England The Bank of England, established in 1694, is a proud institution. With 325 years of operation they must be doing something right. Indeed, perhaps one of the things sustaining it is the pragmatism and honesty of its leaders. Nearly a century ago in 1927, a director of the bank, Sir Josiah

10
Apr

Pussy Galore

Pussy Galore This week Honor Blackman, who played Pussy Galore in Goldfinger, died at 94 years of age. One of the best Bond films and certainly one of the best villains in Auric Goldfinger. Goldfinger’s plan was quite clever, he intended to set off a nuclear device at Fort Knox, thereby contaminating the US gold

27
Mar

A difference of opinion

A difference of opinion Debate rages this week about the impact of the interventions of the Federal Reserve, ECB and other central banks. The argument surrounds the impact of the central banks buying government bonds. Here is Joe Weisenthal of Bloomberg. “.…………, the Fed can’t make the money printer go brrrrr like we need it