The thing about bubbles, is you just don’t know when they’re going to pop. The biggest mistake you can make with them is imagining that you’re not in one. You can make a fortune on the way up, but you never can tell when the music’s gonna stop and it collapses. If someone bought Bitcoin when it was $8000 (or even less!) as an investment (and not just day trading it) a few years ago, they could’ve made a fortune when it went to 64,000. But only if they got off the train and bailed at that point. And now it’s below 20,000. With that kind of volatility, a trader with a good nose could actually make a fortune on multiple trades if they are timed properly.
But that’s always the problem: predictions are tough, especially about the future. It would be interesting to see the political affiliations of Bitcoin enthusiasts, Bitcoin investors, not traders, the ones who really put their money where their mouth is and hung in there. If they really believe in modern monetary theory Bitcoin makes perfect sense, more sense than the dollar right now with the people in charge of the Fed right now, actually.
People (If they think about it) might wonder: in the face of obvious inflation, how is it that the Fed is fighting like hell to keep interest rates down, desperate for them not to rise even though it knows that that’s the only way it has any idea how to fight inflation, since it has no idea what economic growth is, or how to do it.
And if interest rates go up at all, by, say, two percentage points, its $9 Trillion of debt on its balance sheet will decline in value so drastically that it will be completely bankrupt. And what happens if interest rates go up by 10 points? Or 19 points, like Volker had to do with less inflation than we have now, and public debt an * compared to what it is now?
The Fed and all of its cheerleaders in the fake news pretended that that “big” jump of 75 basis points was a big deal because it’s putting on a show, hoping to trick people into believing in the value of the dollar and that they are brilliant, just like they were able to trick people into voting for Joe Biden, and trick people into thinking that Hunter Biden’s laptop was “Russian disinformation,” because under its present balance sheet it simply cannot afford any higher interest rate increases because of the massive declines in value of its balance sheet that would result (bonds rise and fall inversely with interest rates) and, accordingly, that 75 basis points goose yesterday was a f—ing joke in face of the inflation that’s actually going on.
And no, the real inflation is not the 8.6% that they have manipulated statistics to claim. It’s closer to 20%. Maybe even higher, with fuel costs double what they were two years ago, and going up in direct response to Biden’s anti-energy policies (by, among other things, forbidding banks from lending to any oil and gas deals under threat of being crushed by the endless number of alphabet agencies which control them completely).
And everyone who simply fills their tank (or is unable to do so because the pump stops at $100) or goes to the supermarket knows it’s a hell of a lot more than 8.6%. It’s much worse than in 1981. Using the same statistical methodology they used in 1981 it’s closer to at least 20%. Yes, they changed the way they compute inflation statistics.
They, the politicians and permanent bureaucrat “experts,” are lying through their teeth about everything. Just like they did about Covid and their worthless “vaccines” which are obviously not vaccines by any definition of the term.
The “experts” are always “surprised” because they’re a bunch of f—ing idiots who believe, or at least pretend to believe, their own worthless climate and economic models. Janet Yellen even finally admitted (they never, ever, ever admit that they are wrong about anything, but some things are just a little bit too much to continue denying) that they were wrong that inflation was “transitory,” and insulted everybody’s intelligence by then pretending that – WHO COULD POSSIBLY HAVE KNOWN? – as if no one possibly could have known, that no one ever had even hinted that it would be much more serious than that if the Biden Regime continued its policies of pointless, massive spending – as if there were no other voices out there talking about the subject other than their stupid ones.
But of course there were. Not everyone is an idiot like them. Even Larry Summers – dripping, and even bristling, with credentials bureaucrats worship, a dyed-in-the-wool member of the DC sewer/Swamp club, Clinton’s Treasury Secretary, and Obama’s National Economic Council President, straight out of central casting as a leftist Keynesian, former President of Harvard – even he warned that that spending under Covid would cause terrible inflation.
So, Janet Yellen didn’t hear him? She was too-preoccupied focusing like a laser on her statistics and her proven-worthless models , which she still worships and follows, notwithstanding their complete, conclusively-proven worthlessness – on her complete fantasy “reality?” Yes, they really do think they live in the Magic Kingdom where they can just make everything up, come up with a computer model and pretend it’s real and follow it religiously, and it will all magically be true.
Yes, in their idiot model world, everything is completely magical for them, luxuriating and self-glorified in their own luxuries, compensated lavishly for being stupid and pretending to be smart – except, like the value of crypto, there is nothing, no actual magic to sustain them because surprise: unfortunately, they don’t have any actual magical powers to do anything other than lie and have endless propaganda platforms ready to promote their brilliance and their lies as the truth.
They’re the same people who want to destroy the economy based on the fantasy that there are alternative fuels to oil, gas, coal and nuclear. Literally everything they say and do is wrong, all based on proven-worthless computer models, and it is truly catastrophically terrible that they have any power over us whatsoever, let alone virtually-existential power over everyone and our economy and everything about the nation.
And none of that power is Constitutional. The Founders were a lot smarter than any of these f—ing idiots: they knew to forbid the federal government from ever printing paper money, even if it’s backed by gold, giving them the power only to “coin” money in article I § 8 of the Constitution. They knew perfectly well about France’s attempt earlier in the 18th Century to float paper money which resulted in the catastrophic Mississippi Bubble, and they were determined to prevent anything like that from ever happening here. And it didn’t, until politicians just stole the power from the people in 1913 and created the unconstitutional Fed, which every moment of it’s unconstitutional existence commits the crime of counterfeiting, a crime explicitly, federally-criminalized in Article I § 8 of the Constitution, one of the only three crimes the federal government is actually allowed to prosecute under the original Constitution,
They never answer the question why, if those alternative fuels are so wonderful, people have to be bribed massively to use them (how many people would buy a Tesla without being paid at least $7,500 – and even more in California – a pop to do so?) and punished for using the real ones in pursuit of their societally-suicidal policies, none of which have ever been voted for by the public – unless the people who actually voted for Joe Biden in the last election, whoever they are, were actually voting for him and not simply casting votes of hatred against Donald Trump.
Because, yes, as maybe the only true statement he’s ever made in his life, Joe Biden made very clear that destroying all our actual energy sources was his intention, his single-minded goal – and everyone knows that he is actually stupid enough to believe that there are indeed “alternative” energy sources. Because the tooth fairy may have told him that.
He probably thinks you can put solar panels or windmills on a container ship and sail it anywhere you want, and also on a B1 bomber no doubt. I’m sure the Russians and Chinese are terrified, just cringing, worried about us trashing all our existing planes, boats, tanks, and military vehicles of all kinds including, of course, artillery, and replacing them with ones which run on some magical “alternative” fuel.
And they must really be worried about having all those trannies, all trained to hate America as a “systemically and irretrievably racist” country, the worst place on the planet, under the CRT indoctrination they receive daily, together with all the pregnant women in our Navy Seals and flying our fighters and bombers and sailing our ships, and driving the tanks, and on the front lines in Marine battalions, doing their nails and shaving their legs, trying out new pumps and lipstick – and being just so FABULOUS!
How are we going to get through having this criminal cartel control the Fed, Congress and the White House, all of which have power they should never have, power stolen from the people in direct violation in particular of Amendments 9 and 10 of the Constitution – because nothing in the Constitution permits any of the destructive powers they have been exercising?