The divergence between stocks and bitcoin keeps widening, which I predicted months ago. The S&P 500 makes new highs every week now, also as I predicted.
Anyway, saw this post go viral
The Subreddit /r/Collapse Has Become the Doomscrolling Capital of the Internet. Can Its Users Break Free?
Regardless politics, both sides seem to be in agreement that society is irreparably an fundamentally broken.
2020 saw a major spike in homicides in the US, probably thanks to to a combination of BLM protests and Covid. Hooray for diversity.
The strong stock market and GDP notwithstanding, subtle signs of collapse and decay are everywhere, that don’t even make headlines. Many stores and restaurants no longer accept $50 and $100 bills. Social trust has gotten so low, presumably due to counterfeiting and other crime, that cashiers don’t keep enough cash at hand for fear of being robbed, to break large bills even if it’s a $15 purchase and I’m using a $50 bill. So in other words, they are forfeiting business because they are too incompetent to keep enough change at hand. It’s worse than the hyperinflation Peter Schiff is always talking about…you cannot even spend the damn things.
I think most of this is a result of how dysfunctional local governments are in the parts of the Bay Area, there are plenty of other communities which are vastly more live-able. For instance you would not have the change problem in Denver or Salt Lake City or most of Seattle, or even in Palo Alto.
Even if BTC goes to 15k and lingers for a year before heading back up it’s still going back up and eventually to a million or more. That was In doubt until it made its penultimate high at 19k. Since it’s clearly a new asset class digital gold being the best way to understand it. What also became apparent since that time is that BTC won’t be most of the other things it was thought it might ie anonymous digital currency, smart currency etc but that as digital gold it will never be replaced it does that so well at the expense of the other traits. It’s only now all of us bulls and naysayers alike are starting to understand why it isn’t a Ponzi scheme and what it’s unique and valuable technology is for. At the same time other cryptos have demonstrated they are optimized for all sorts of new technological abilities and will at the very least change to some extent the financial social and technological landscape possibly they will lay it all to waste.
That said I have gold and silver buried I have lots of land and houses and I trade all sorts of other instruments on many timeframes. But my 1% crypto is now worth far far more than the 10% I put into physical metal.
I get the impulse to dismiss it I sold it all a couple times in early days on those impulses I don’t really regret it at that time the above was not known
Any thoughts? I know in the past you discussed inflation not budging