Happy Ending.......... (Friday)

[yellowsnow]

In part from: https://www.cnbc.com/2021/05/07/bank...eir-money.html


'LONDON — Cryptocurrencies “have no intrinsic value” and people who invest in them should be prepared to lose all their money, Bank of England (BOE) Governor Andrew Bailey said Thursday.

Digital currencies like bitcoin, ether and even dogecoin have been on a tear this year, reminding some investors of the 2017 crypto bubble in which bitcoin blasted toward $20,000, only to sink as low as $3,122 a year later.

Asked at a press conference about the rising value of cryptocurrencies on Thursday, Bailey said: “They have no intrinsic value. That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value.” “I’m going to say this very bluntly again,” he added. “Buy them only if you’re prepared to lose all your money.”

Bailey’s comments echoed a similar warning from the U.K.’s Financial Conduct Authority (FCA). “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money,” the financial services watchdog said in January. “If consumers invest in these types of product, they should be prepared to lose all their money.”

ohhh, i should listen to bankers.
i find it funny that a PM stacker want me to follow banker's advice

[yellowsnow]

another happy day for the communism party of china
Ain't fiat grrreaat?
Just another day in paradise china
https://hongkongfp.com/2021/05/14/na...ZS0irUWdym-NXo

[Redrum]

ohhh, i should listen to bankers.
i find it funny that a PM stacker want me to follow banker's advice

At no time did I even suggest you "should listen to bankers." If you want to go head to head with me on financial issues have at it, but do not think I will not challenge fabrications as to what I write....

[motocat]

In part from: https://www.cnbc.com/2021/05/07/bank...eir-money.html


'LONDON — Cryptocurrencies “have no intrinsic value” and people who invest in them should be prepared to lose all their money, Bank of England (BOE) Governor Andrew Bailey said Thursday.

Digital currencies like bitcoin, ether and even dogecoin have been on a tear this year, reminding some investors of the 2017 crypto bubble in which bitcoin blasted toward $20,000, only to sink as low as $3,122 a year later.

Asked at a press conference about the rising value of cryptocurrencies on Thursday, Bailey said: “They have no intrinsic value. That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value.” “I’m going to say this very bluntly again,” he added. “Buy them only if you’re prepared to lose all your money.”

Bailey’s comments echoed a similar warning from the U.K.’s Financial Conduct Authority (FCA). “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money,” the financial services watchdog said in January. “If consumers invest in these types of product, they should be prepared to lose all their money.”

Don't most people laugh at such statements, the pot calling the kettle black? What is the modern dollar or pound? It's just "digital" folks, with no limits on creation, and having "no intrinsic value". Do they have any idea how silly they sound, or are they such so smug to think most people are so uninformed as to follow along with what they spew?

[silverone]

DOW 34,704 from yesterday's close
When do we hit 50,000?

https://dailyreckoning.com/janet-yel...cs-the-market/

Do You Hear Bells...? https://economicprism.com/do-you-hea...bells-ringing/

[BodieGhost]

Do You Hear Bells...? https://economicprism.com/do-you-hea...bells-ringing/

Bells are ringing loudly in the cryptocurrency market, IMO. I'm also uneasy about the stock market bells.

[brutus2]

Bells are ringing loudly in the cryptocurrency market, IMO. I'm also uneasy about the stock market bells.

Concur. https://www.youtube.com/watch?v=qFJFonWfBBM

[silverone]

https://creditbubblebulletin.blogspo...nder-fire.html

[brutus2]

https://creditbubblebulletin.blogspo...nder-fire.html

great article. No one asks the most pertinent question. Why is 2% inflation the desired outcome for eternity.
How is debasing the currency by 50% every 36 years a good and noble thing. I thought the Feds mandate was to ensure a stable currency.


A stable weight is not to double your weight over a time span
A stable climate is not to have the temperature double over 36 years
A stable water level in the oceans is not to have that level double in 36 years.

[silverone]

ALL Time Record High's for the 'Market'
We must be in a Recovery... Got your 'shot' Yet..