BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on April 10, 2024 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Boeing had yet another rough day, at one point dropping 2.5% to its lowest mark in five months after reports that the FAA is investigating a whistleblower’s claims about safety issues with the 787 Dreamliner.
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And, US stocks on Tuesday ended with small moves, weighed down by the financial sector ahead of key earnings reports later this week. Market participants also exhibited caution a day before the latest consumer inflation data. Wall Street’s three major averages opened in the green but then spent most of the day languishing in negative territory.
Finally, the tech-heavy NASDAQ Composite (COMP:IND) eventually closed 0.32% higher at 16,306.64 points, while the benchmark S&P 500 (SP500) added 0.15% to settle at 5,209.94 points. The blue-chip Dow (DJI) fell marginally by 0.02% to conclude at 38,883.67 points.
The S&P 500® index (SPX) gained 7.52 points (0.1%) to 5,209.91; the Dow Jones Industrial Average® ($DJI) lost 9.13 points (0.02%) to 38,883.67; the NASDAQ Composite® ($COMP) rose 52.68 points (0.3%) to 16,306.64.
The 10-year Treasury note yield (TNX) fell more than 6 basis points to 4.358%.
The CBOE Volatility Index® (VIX) fell 0.21 to 14.98.
Financial and industrial shares led Tuesday’s decliners. Oil services stocks were also soft as WTI Crude Oil (/CL) futures dropped for a third consecutive trading session. The Philadelphia Oil Service Index (OSX) lost 0.7% and ended at its lowest point since April 1.
In other markets, Gold (GC) futures neared $2,400 per ounce and hit a record high for the eighth consecutive trading session. Gold’s rally has been driven by factors including reports of purchases by China’s central bank as well as expectations for lower interest rates and escalating conflict in the Middle East. Bitcoin (BTC) tumbled about 3.5% and fell to less than $70,000, giving up much of Monday’s gain.
Posted on March 16, 2024 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Tokenization is the process of converting an asset or the ownership rights of an asset to a unique unit called tokens. Tokens are commonly referred to when discussing blockchain technology, where they are used to indicate the ownership of a valuable asset.
Tokens can indicate ownership of tangible assets, like art, or they can indicate ownership of intangible assets, such as shares in a company or voting rights. Tokenization can occur for any item that is deemed valuable.
Tokens can then be used to transfer ownership of an asset, make payments and complete other financial tasks. An example of tokenization would be Bitcoin. It is a popular cryptocurrency that uses tokens to represent how much BTC a person owns.
Tokenization began as a type of data security for businesses that replaces sensitive information with unique, non-sensitive data. Tokens don’t contain the original data, but they usually share similar characters or formatting.
A user would need access to the tokens that are connected to the separately-stored originals in order to restore the tokens and view the secured data. Otherwise, a user would not be able to decipher the token to view the data. Therefore, they can be useful for securing personal information, financial transaction data and other sensitive data.
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There are multiple types of blockchain tokenization and non-blockchain tokenization.
Blockchain Tokenization
Types of blockchain tokenization include:
Fungible tokenization. These are standard blockchain tokens. They have identical values, so they can easily replace one another — think of swapping one dollar for another dollar.
Non-fungible tokenization. These are less common blockchain tokens that do not have a set value. Instead, they represent ownership of an asset, such as digital art or real estate, that determines the value of the token.
Governance tokenization. These tokens represent voting rights and can be used to vote and collaborate on a blockchain system.
Utility tokenization. These tokens are used to give access to certain products and services on a specific blockchain, so they can be used to complete actions like paying transaction fees or operating a decentralized market system.
Non-blockchain Tokenization
Types of non-blockchain tokenization include:
Vault tokenization. This is the standard type of tokenization to protect payment information, where the token is used to process payments without providing card numbers or other data.
Vaultless tokenization. This is a type of tokenization used for payment processing that doesn’t require a token vault for storage. Instead, it uses cryptographic devices and algorithms to convert data to a token.
Natural language processing tokenization. This type of tokenization breaks information down into simpler terms to make it more easily understood by computers. It includes word, sub word and character tokenization.
While tokenization began with the idea of protecting data assets using non-blockchain tokenization, it has developed into a way to protect the ownership of many other types of assets by using blockchain technology.
Posted on March 9, 2024 by Dr. David Edward Marcinko MBA
By Staff Reporters
Tomorrow is the start of daylight saving time. Enjoy the extra hour of evening light.
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UnitedHealth Group is laying out a timeline to restore its systems as a cyberattack on its Change Healthcare subsidiary continues to disrupt the health care industry for nearly a third week. The company said Thursday it’s still working “aggressively” to restore its services after the attack Feb. 21st caused it to shut down its insurance claims and payment platforms, leaving health care providers and pharmacies across the nation unable to process prescriptions or pay employees, but as of now, its electronic prescribing is back to being “fully functional.”
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Stocks tumbled yesterday, giving the Dow its worst week since October as Nvidia’s seemingly unstoppable rally…stopped. Meanwhile, bitcoin notched another record, hitting $70,000 for the first time before the volatile cryptocurrency retreated.
Government: The Senate passed vital funding bills just barely ahead of a shutdown deadline, ensuring the government can stay open—at least for now. But they still need to pass more before March 22nd.
Here’s where the major benchmarks ended:
The S&P 500 index (SPX) fell 33.67 points (0.7%) to 5,123.69, down 0.3% for the week; the Dow Jones Industrial Average® ($DJI) lost 68.66 points (0.2%) to 38,722.69, down 0.9% for the week; the NASDAQ Composite (COMP) dropped 188.26 points (1.2%) to 16,085.11, down 1.2% for the week.
The 10-year Treasury note yield (TNX) fell more than 1 basis point to 4.079%.
The CBOE Volatility Index® (VIX) rose 0.30 to 14.74.
The Philadelphia Semiconductor Index (SOX) sank 3.5% Friday but still gained 0.6% for the week, its third straight weekly advance. Bank and utility shares were among the market’s few areas of strength, and small-cap stocks held up relatively well. The Russell 2000® Index (RUT) fell 0.1% after earlier climbing to a two-year high but still added 0.3% for the week, its fourth weekly gain in the past five.
Posted on March 7, 2024 by Dr. David Edward Marcinko MBA
STATE OF THE UNION EVENING
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Markets: Stocks rose yesterday as investors watched Jerome Powell tell lawmakers that he still expects to cut interest rates this year, just not right away.
Stock spotlight: Troubled regional lender New York Community Bancorp, which fell 40% before soaring back up after announcing it’s getting $1 billion from investors, including ex-Treasury Secretary Steven Mnuchin’s firm.
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Meanwhile, Stocks tumbled on Tuesday as several of the “Magnificent Seven” tech giants shed some of their gains from earlier this year, dragging the entire market with them. One of those companies was Apple, which fell about 3% after a report suggested that iPhone sales in China have plunged in the first six weeks of 2024.
And, Bitcoin set a new record yesterday, briefly jumping past $69k before falling back down to ~$62k. The rally highlighted the crypto’s seemingly rapid recovery from the nail-in-the-coffin that was FTX’s demise in 2022.
Posted on February 16, 2024 by Dr. David Edward Marcinko MBA
BITCOIN MINER HALVING
By Staff Reporters
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DEFINITION: After the network mines 210,000 blocks—roughly every four years—the block chain reward given to Bitcoin miners for processing transactions is cut in half. This event is called halving because it cuts the rate at which new bitcoins are released into circulation in half. This rewards system will continue until about 2140, when the proposed limit of 21 million coins is reached. At that point, miners will be rewarded with fees for processing transactions, which network users will pay. These fees ensure miners are still incentivized to participate and keep the network going.
And, so, the total value of the world’s most popular cryptocurrency surpassed $1 trillion yesterday for the first time since 2021. The overall crypto market, meanwhile, broke $2 trillion in market cap, fueled by investor confidence. If crypto were a publicly traded company, it would be the fourth-largest in the world behind Microsoft, Apple, and Saudi Aramco.
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HALVING – The quadrennial event, expected to take place today or tomorrow, was built into bitcoin’s original code to cut the amount of new coins going into circulation in half every four years. The purpose is to thwart inflation and increase the currency’s value. Bitcoin’s mysterious creator, Satoshi Nakamoto, designed the crypto so that only 21 million bitcoins would ever exist. It will take about a century to hit that number, but as it approaches the cutoff, the crypto hose slowly constricts. No one’s sure what happens next
Historically, halvings have coincided with big jumps in price—the coin’s first halving in 2012 saw the price jump from $12.35 to $127 within five months, according to Time. But critics argue that the narrative around halving is much stronger than the actual event. Even bitcoin experts aren’t sure what will happen with the volatile asset. It already hit a record high of over $73,750 in March, thanks to the spot bitcoin ETF approval. And, lest we forget, the whole FTX thing happened since the last halving.
Posted on February 14, 2024 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Crypto may not be back to having celebs hawk it during the Super Bowl after a series of scams and bankruptcies rocked the industry, but yesterday, the price of bitcoin rose higher than $50,000 for the first time since December 2021.
Last month’s decision by US regulators to allow spot bitcoin ETFs, which pushes the digital currency toward the mainstream by making it easier for people to access, didn’t initially significantly drive up prices, but interest in the ETFs helped spur the recent rise.
The S&P 500® index (SPX) fell 3.21 points (0.1%) to 4,780.24; the Dow Jones Industrial Average® (DJI) gained 15.29 points to 37,711.02; the NASDAQ Composite® (COMP)rose 0.55 point to 14,970.19.
The 10-year Treasury note yield dropped about 4 basis points to 3.988%.
The CBOE® Volatility Index (VIX) fell 0.25 to 12.44.
Nathan Peterson, director of derivatives analysis at the Schwab Center for Financial Research, noted that technology was one of few sectors to buck Thursday’s market weakness, as so-called mega-caps including Nvidia (NVDA) and Microsoft (MSFT) notched new record highs. Also, Amazon (AMZN), Google parent Alphabet (GOOGL), and Netflix (NFLX) each posted new 52-week highs, illustrating continued investor rotation back into that sector.
In other markets, the Securities and Exchange Commission (SEC) approved exchange-traded funds (ETF) linked to the spot bitcoin market late Wednesday. The spot market, also known as the cash market, refers to forums where commodities, securities, and other assets can be immediately exchanged between buyers and sellers. The move opens up a new crypto inroad for investors who might otherwise not want to hold actual bitcoin and looks like a potential bellwether event for individual investors and crypto itself. ETFs linked to spot bitcoin began trading today.
Bitcoin prices have nearly tripled since the start of 2023, reaching $47,000 earlier this month, partly reflecting anticipation of the SEC decision and amid hopes of easing interest rate policy.
Posted on January 10, 2024 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Everyone is waiting for the SEC’s decision, expected today, about whether it will allow spot bitcoin ETFs that would make buying the cryptocurrency easier and more accessible. But it seems someone wasn’t willing to wait it out!
After the SEC’s account posted to X yesterday that the ETFs had been approved, Chair Gary Gensler said on his own account that there had been no approval and the agency’s account was “compromised.” The false post briefly caused a spike in bitcoin prices.
Markets: One week into 2024, stocks and bonds are off to their worst start in 21 years as investors maybe got a bit ahead of their skis in anticipating Fed rate cuts.
This week, Wall Street will be focused on fresh inflation data and the beginning of Q4 earnings season.
Bitcoin ETF cleared for launch? The first spot bitcoin ETF—could be approved by regulators this week in what would be a watershed moment for Wall Street’s embrace of digital tokens. The hype around these proposed funds, which would allow regular investors to gain exposure to bitcoin without buying it directly, drove bitcoin’s price up 162% over the past year.
Here is where the major benchmarks ended:
The S&P 500 Index was up 84.15 points (1.9%) at 4,495.70; the Dow Jones Industrial Average (DJI) was up 489.83 points (1.4%) at 34,827.70; the NASDAQ Composite (COMP) was up 326.64 points (2.4%) at 14,094.38.
The 10-year Treasury note yield (TNX) was down about 18 basis points at 4.453%.
CBOE’s Volatility Index (VIX) was down 0.60 at 14.16.
The small-cap focused Russell 2000 Index (RUT), which has lagged large-cap benchmarks for most of the year, jumped more than 5% Tuesday. Small-caps are often seen as being more exposed to the economic cycle and had suffered because of concerns that high interest rates could push the economy into recession.
Other interest rate-sensitive sectors, such as real estate, materials, and utilities, also saw outsize gains.
The Internal Revenue Service (IRS) is raising the stakes for those who underpay their taxes by ratcheting up the interest penalty that will be assessed in next spring’s tax filing season. Earlier this fall, the IRS increased its interest penalty on estimated tax underpayments to 8% – a notable jump from 3% just two years ago. The IRS indicated that the interest rate penalty is determined every quarter and that for taxpayers other than corporations the assessed rate is the federal short-term rate plus three percentage points.
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Speaking of a possible US economic “soft-landing“, the S&P 500closed at a 2023 high on Friday, the VIX (Wall Street’s “fear gauge”) has fallen to a nearly four-year low, and December has been the third-best month for the S&P since 1928. Even crypto is on a roll as bitcoin topped $40,000 for the first time since May 2022.
Posted on September 29, 2023 by Dr. David Edward Marcinko MBA
By Staff Reporters
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The Stock Markets are bouncing back after days of pronounced volatility, aided by the slowdown in Treasury yields and Thursday’s dip in the value of the dollar. Newly released data confirmed that U.S. economic growth was at an annualized rate of 2.1% in Q2, while initial jobless claims have held near their over-eight-month low, defying expectations of a more significant increase.
The surge in risk appetite is fueling solid gains in tech stocks and Bitcoin (CRYPTO: BTC) during the trading sessions. The cryptocurrency has gained 2.9% by midday, marking its strongest session in September.
The S&P 500 Index was up 25.19 points (0.6%) at 4,299.70; the Dow Jones Industrial Average (DJIA) was up 116.07 points (0.4%) at 33,666.34; the NASDAQ Composite was up 108.43 points (0.8%) at 13,201.28.
The 10-year Treasury note yield (TNX) was down about 5 basis points at 4.577%.
CBOE’s Volatility Index (VIX) was down 0.88 at 17.34.
Crude oil futures,meanwhile, retreated from 13-month highs to fall more than 2% to less than $92 a barrel.
Posted on August 30, 2023 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Bitcoin gets a boost from landmark ETF ruling
An appeals court said the SECwas wrong to reject an application from crypto investment firm Grayscale to create a spot bitcoin exchange-traded fund (ETF), sending the price of bitcoin up about 6.5%.
The slumbering crypto industry has been eagerly anticipating a spot bitcoin ETF (as opposed to existing crypto ETFs based on futures) because it could attract a torrent of cash and interest from individual investors. The SEC said it was reviewing the decision.
Posted on June 25, 2023 by Dr. David Edward Marcinko MBA
By Staff Reporters
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The S&P 500 Index ($SPX) (SPY) was down -0.61%, the Dow Jones Industrials Index ($DOWI) (DIA) was down -0.45%, and the NASDAQ 100 Index ($IUXX) (QQQ) was down -1.11%.
U.S. stocks were undercut by weak U.S. manufacturing PMI and the weak Eurozone PMI reports, which indicated that the U.S. and Eurozone economies are struggling even as the Fed and the ECB plan further rate hikes.
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Alternative Investments?
Oddity, which runs the makeup brand Il Makiage, has filed paperwork for an IPO.
SpaceX is offering to sell select buyers shares at a price that values the private company at ~$150 billion, Bloomberg reports.
Bitcoin hit its highest price in a year, signaling that a thaw has come in the crypto winter.
Healthy investments: Despite a VC slowdown in 2022, healthcare firms raised $61.1 billion in investments. Want to know how VCs decide which healthcare startups to fund? Read more here.
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Stock spotlight: GSK shares surged on both the London and New York exchanges after the company settled what would have been the first case against it to go to trial in the US claiming its heartburn drug Zantac causes cancer. It would have been a high-profile test case since thousands of similar cases have been filed.
Posted on June 21, 2023 by Dr. David Edward Marcinko MBA
By Staff Reporters
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EDX Markets, a cryptocurrency platform backed by Charles Schwab (SCHW), Fidelity and Ken Griffin’s Citadel Securities, launched trading for bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).
Bitcoin hit its highest price since early May after a crypto exchange backed by finance heavyweights Charles Schwab, Fidelity Digital Assets, and Citadel Securities said it was open for trading.
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Key Issues:
Schwab and Fidelity-backed crypto-platform EDX Markets began trading for bitcoin, ether, litecoin, and bitcoin cash.
EDX is a ‘non-custodial’ exchange, meaning it does not hold customer crypto and instead uses a third-party custodian.
EDX plans to launch a clearinghouse later this year to help customers settle trades.
EDX also announced new investors that include Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology.
Posted on April 12, 2023 by Dr. David Edward Marcinko MBA
What is Your Opinion?
By Staff Reporters
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Markets: Stocks ran on a treadmill yesterday as investors waited for the high-stakes inflation report to drop this morning. Major cryptocurrencies have emerged as the biggest winners of 2023 so far, and Bitcoin topped $30,000 for the first time in 10 months.
Dueling economic visions: Depending on who you ask, the economy is doing just fine…or it’s about to slow down dramatically. Treasury Secretary Janet Yellen said yesterday that “the US economy is obviously performing exceptionally well.” But that’s not obvious at all to the IMF, which predicted weak global growth this year and gave its gloomiest five-year economic forecast since 1990.
Posted on April 2, 2023 by Dr. David Edward Marcinko MBA
By Staff Reporters
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A disastrous month of March is what Charles Schwab has just experienced. An avalanche of bad news fell on the firm. The stock fell 33% between Feb. 28 and Mar. 31. At the end of February, Charles Schwab’s shares were trading at around $77.92. A month later the price is now $52.38. The difference translates to more than $47 billion in market capitalization wiped out in just one month. According to Bloomberg News, this is Charles Schwab’s worst month since the October 1987 stock market crash, known as Black Monday. That day, the Dow Jones index lost 508 points, a decline of 22.6% and the largest daily decline in a stock market index at the time. Only the drop by 76% of the Icelandic stock market in 2008 would exceed this record.
VERSUS
With the first quarter of 2023 behind us, and despite wild fluctuation due to continuous rate hikes from the Fed and an unexpected bank panic, stocks and bonds managed to turn in a pretty, pretty, pretty good performance for the quarter. The S&P 500 gained 7%, and the Dow Jones Industrial Average gained 0.4%. But if the market’s metaphorical report card is impressive, tech companies were indisputably the honors students.
Wall Street rewarded tech companies’ layoffs and other cost cutting measures, giving tech stocks a resurgence. And with ChatGPT becoming a household name, investors have their money on generative AI as the next big bet. As of last night:
The tech-heavy NASDAQ Composite index rose a whopping 18% since January 1, its largest quarterly gain in two years.
Stocks of the tech giants leading the charge in AI-powered search, Microsoft and Alphabet, are up 20% and 16%, respectively.
Bank stocks were a delight for short sellers, who made $2 billion betting against the sector in the past three months.
Smaller institutions were most badly injured by the bank panic: The SPRD S&P Regional Banking ETF, which consists of non-behemoth banks, had more than a quarter of its value wiped out in Q1.
Large banks are feeling the pinch of rising interest rates: Global merger and acquisition deals suffered the biggest first-quarter decline since 2001, according to data analyzed by the Financial Times.
Posted on March 19, 2023 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Bitcoin prices climbed to as high as $27,293 last week, wrapping up the cryptocurrency’s best week since January 2021. And it has Silicon Valley Bank and friends to thank for it. Crypto diehards claim bitcoin’s gains are the result of people losing faith in traditional banking after SVB and Signature imploded (though it’s worth noting that Signature was a big player in the crypto world).
However, after the second-and third-biggest bank failures in history, economists started second-guessing whether the Fed would stick to the plan to hike interest rates again or change course to protect the rest of the very fragile banking industry. That could mean the crypto market, which slid into the dreaded Crypto Winter in the first half of last year because of macroeconomic factors like the Fed’s rate hikes, might finally be approaching spring.
So, according to MorningBrew, the Fed’s interest rate decision next week will likely serve as crypto’s redeux. And despite the banking industry hoping Jerome Powell pauses the interest rate hikes, February’s inflation numbers showed that the Fed may need to stick to its original plan to keep inflation in check.
Posted on December 14, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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U.S. equities were able to finish higher after coming off early solid gains in the wake of the Consumer Price Index (CPI). The November CPI report came in softer-than-expected and seemed to somewhat sooth concerns regarding how aggressive the Fed will remain in its rate hike campaign. This came ahead of tomorrow’s highly anticipated Fed monetary policy decision, with the markets expecting a 50-basis point increase to the target fed funds rate.
Treasury yields tumbled following the inflation data, and the U.S. dollar fell, while crude oil and gold prices were sharply higher. In other economic news, the NFIB Small Business Optimism Index unexpectedly rose.
Equity news was light, as Oracle beat earnings estimates despite the significant impact of the strengthening U.S. dollar, while Raytheon Technologies authorized a $6 billion share repurchase program. European stocks finished higher, getting a boost from the CPI report, while markets in Asia were mixed
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The world’s biggest central banks will this week wrap up the most aggressive year for interest-rate hikes in four decades with their fight against inflation still not over even as their economies slow. The US Federal Reserve on is set to raise its key rate by 50 basis points to a range of 4% to 4.5%, the highest since 2007, and to signal more increases in early 2023.
A day later, the European Central Bank and the Bank of England are likely to follow with half-point moves. And higher borrowing costs are also in the cards in Switzerland, Norway, Mexico, Taiwan, Colombia and the Philippines.
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Earlier in October, Kiyosaki mentioned that he is bullish on Bitcoin because state-sponsored pension funds are starting to invest in BTC. Kiyosaki has repeatedly cautioned that the U.S. is heading toward an economic collapse. He said in a tweet that amid a financial meltdown, investors could keep their capital intact by loading up on gold, silver, and Bitcoin. At the time of writing, Bitcoin was trading at $17,156, up about 1% in the last seven days. The apex crypto’s market cap stood at around $330 billion.
Posted on December 9, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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“It was not a good investment.”
Kevin O’Leary should stick to investing in things like pimple popping toys.
The Shark Tank’s “Mr. Wonderful” admitted he was paid $15 million to act as FTX’s spokesperson. And of the ~$9.7 million he put into crypto, “it’s all at zero,” he told CNBC.
Like Tom Brady and other celebs, O’Leary hyped FTX on social media and TV over the past year; now, he’s being named in a class-action lawsuit over the exchange’s implosion.
According to Wikipedia, a non-fungible token (NFT) (previously referred to as Bitcoin 2.0) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.
In 2021, there has been increased interest in using NFTs. Blockchains like Ethereum, Flow, and Tezos have their own standards when it comes to supporting NFTs, but each works to ensure that the digital item represented is authentically one-of-a-kind. NFTs are now being used to commodify digital assets in art, music, sports, and other popular entertainment. Most NFTs are part of the Ethereum blockchain; however, other blockchains can implement their own versions of NFTs.
The NFT market value tripled in 2020, reaching more than $250 million. The rise of NFT transactions has also led to increased environmental criticism. The computation-heavy processes associated with proof-of-work blockchains, the type primarily used for NFTs, require high energy inputs that are contributing to global warming. The carbon emissions produced by the energy needed to maintain these blockchains has forced some in the NFT market to rethink their carbon footprint.
Posted on September 28, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Bitcoin, the world’s largest digital asset by market value, fell as much as 1.2% to trade around $18,878, failing to sustain an earlier advance. Ether, the second-largest cryptocurrency, also dropped. Most major digital assets were posting declines as of 1:45 p.m. in New York.
The downturn occurred as US stocks turned lower, with the S&P 500 on pace for a sixth session of losses. Global financial markets have been gripped by volatility as central banks continue to promise that they’re going to keep raising interest rates to fight inflation that’s proven stickier than many had thought.
Posted on September 19, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Bitcoin just dropped 1.54% to $19,804, slipping from the 20,000 mark after losing $310 from its previous close. The world’s biggest and best-known cryptocurrency is down 58.9% from the year’s high of $48,234 on March 28th.
Ether, the coin linked to the Ethereum blockchain network, dropped 3.2 % to $1,422.1 losing $47 from its previous close.
The law was named in 1860 by Henry Dunning Macleod, after Sir Thomas Gresham (1519–1579), who was an English financier during the Tudor dynasty. However, there are predecessors.
The law had been stated earlier by Nicolaus Copernicus. It was also stated in the 14th century, by Nicole Oresme in his treatise On the Origin, Nature, Law, and Alterations of Money, and by jurist and historian Al-Maqrizi (1364–1442) in the Mamluk Empire; and noted by Aristophanes in his play The Frogs, which dates from around the end of the 5th century BC.
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IOW: It is the tendency for money of lower intrinsic value to circulate more freely than money of higher intrinsic and equal nominal value (often expressed as “Bad money drives out good”).
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Gresham’s Law applies to new coins and worn coins. Worn coins are likely to have lost some of their metallic weight through wear and tear, so they should have less value than new coins. But government sets them to have the same value. Thus worn coins are artificially overvalued and new coins are artificially undervalued.
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So, is Gresham’s Law still relevant today?
THINK: The modern Bitcoin, and related crypto-currency, controversy? We asked colleague Timothy J. McIntosh CFP® MPH CFA for some insights.
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Posted on August 1, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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According to founder and real estate investing company CARROLL, his company has raised rents up to 30% over the past year. Of course, costs are going up as well. “So as our costs go up — our costs of interest, our costs of renovations, our cost of our employees,” Carroll told Fox Business. “We need to push those increases along through rent increase.” Because of rising property prices, renting has become the only option for a lot of people. “We are seeing a supply-demand imbalance,” he adds. “And now they have a lack of buyers because of mortgage rates. So, again, this has all kind of been a perfect storm for the multifamily business.” While it’s hard to say whether rent increases are sustainable, Carroll says that his company’s occupancy rates are at all-time high.
The stock market could be gearing up for new record highs before year-end as the 2022 bear market is over, Fundstrat’s Tom Lee just said. The biggest takeaway for me on events of this week? Convincing and arguably decisive evidence the ‘bottom is in’ — the 2022 bear market is over.” Lee’s confidence stems from the fact that between a negative GDP print, another 75-basis-point interest rate hike from the Fed, and more natural gas volatility due to Russia’s Nord Stream pipeline drama, a lot of bad news occurred this week and yet the S&P 500 and Nasdaq 100 managed to stage a 3% rally. “When bad news doesn’t take down markets, it is time for investors to assess.” In fact, despite a strong US dollar and heightened economic uncertainty, companies are reporting better-than-feared results. With 52% of the S&P 500 having reported second-quarter earnings already, 73% beat profit estimates by a median 7%.
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Meanwhile, investors will be closely monitoring July’s Nonfarm Payrolls print, with analysts estimating a slowdown in hiring, forecasting the addition of 250K jobs which would be the lowest since December of 2020, while the unemployment rate is expected to hold steady at 3.6%. Other important economic data include final S&P Global PMIs, ISM Manufacturing and Non-Manufacturing PMIs, exports, imports, JOLTS job openings, construction spending and factory orders. Finally, the earnings season continues with a slew of major companies reporting quarterly results, including Eli Lilly and Company (NYSE:LLY), Gilead Sciences Inc (NASDAQ:GILD), Uber Technologies Inc (NYSE:UBER), Caterpillar Inc (NYSE:CAT) and Amgen Inc (NASDAQ:AMGN).
Finally, Bitcoin gained 19% since the beginning of July, which caused the crypto’s Relative Strength Index to correct from 29% on July 1 to the 60% level as of press time. The momentum coming back into Bitcoin has caused the fear and green index measurement to improve slightly from “extreme fear” in June, measuring in at 11, to “fear” in July, measuring in at 39.
Posted on July 31, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Apple just announced its most recent quarterly results. Compared to the rest of the tech industry, the numbers were pretty good.Apple’s profitswere down 11 percent from the same period last year but the company beat estimates and still managed to set a record for third-quarter revenue. Considering the challenges facing the entire economy, those numbers are pretty remarkable. The tech industry has been hit especially hard over the past few months due to things like a shortage of computer processors, inflation, and weakening demand; etc.
Bitcoin and Ether, the world’s two largest digital tokens, are headed toward their best month since 2021 amid a revival of risk appetite in global markets and optimism about an Ethereum network upgrade. Bitcoin is up 28% in July and Ether 70%, though their rallies paused Friday. Both were little changed, with Bitcoin at about $23,950 as of 5 p.m. in New York and Ether hovering around $1,730.
Posted on July 21, 2022 by Dr. David Edward Marcinko MBA
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By Staff Reporters
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The S&P 500 rose 0.6%, a day after soaring 2.8% for its best day in weeks. The NASDAQ led the market with a 1.6% gain. The Dow Jones Industrial Average added a more modest 0.2%. Smaller company stocks also closed higher. The Russell 2000 rose 28.62 points, or 1.6%, to 1,827.95.
In Europe, stocks slipped amid worries about whether Russia would restrict supplies of natural gas headed for the region after some maintenance on a key pipeline is scheduled to end. Germany’s DAX fell 0.2%, and French stocks dipped 0.3%. The continent is also preparing for the first increase in interest rates by the European Central Bank in 11 years as it tries to beat back inflation.
And, in the letter to investors, Tesla execs reveal the company has sold 75 percent of its Bitcoin holdings. Last year, Tesla made a $1.5 billion investment in bitcoin and announced that it would accept bitcoin as payment. Tesla started accepting Bitcoin in late March, then abruptly reversed itself in May, just 49 days later. In the latest report, Tesla says the value of its remaining “digital assets” is $218 million, which it had reported at around $1.2 billion in previous quarters.
Finally, Microsoft Corp. is eliminating many open jobs, including in its Azure cloud business and its security software unit, as the economy continues to weaken.
Posted on July 1, 2022 by Dr. David Edward Marcinko MBA
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By Staff Reporters
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Markets: The S&P’s drop of more than 21% was its biggest H1 plunge since 1970. Its second quarter was the worst since Q1 of 2020. And while the S&P is floundering in the bear market, the NASDAQ, which is loaded with tech stocks, has taken an even bigger licking: It’s plunged more than 30% since its peak last November. For example:
Netflix: down 71% YTD (the worst performer in the S&P)
Coinbase: down 81%
Even megacaps like Meta (-52%), Amazon (-38%), and Apple (-25%) haven’t been spared.
Ruja Ignatova promised her cryptocurrency, OneCoin, would become the next Bitcoin. The only problem: It didn’t exist. The FBI today added the Bulgarian-born Ignatova—accused of defrauding investors out of approximately $4.1 billion in a fake cryptocurrency scheme—to its most-wanted list. The 41-year-old has been on outstanding since October 2017, just days after a warrant was issued for her arrest in the U.S. In a press release, the FBI called OneCoin a “massive fraud scheme” and offered up to $100,000 for information leading to Ignatova’s arrest.
The U.S. Securities and Exchange Commission rejected a proposal from Grayscale to list a spot Bitcoin ETF on the NYSE Arca exchange, setting up a potential legal battle with the country’s biggest digital asset manager. The SEC said Grayscale’s request for an ETF listing, which it proposed as a conversion of its popular Grayscale Bitcoin Trust GBTC, didn’t meet the regulator’s standard of being “designed to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.” Grayscale said it would challenge the SEC’s decision in court, arguing that its approval of ETF’s that hold Bitcoin futures should “logically (make it) comfortable with ETFs that hold that same asset.”
Posted on May 29, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Crypto-currency trader Capo reported that Bitcoin (CRYPTO: BTC) is poised to hit a new 52-week low as another sell-off event is insight. The prediction comes as the market is showing signs of weakness, and as Bitcoin managed to trade above $28,400, slightly higher than its 52-week low of $26,910. Capo warned that the support area of around $28,000 is flashing signs of demand exhaustion, as BTC has revisited the price level six times quickly.
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Finally, some venture capital firms are telling their portfolio companies to start cutting costs and looking for ways to cushion their cash position. It’s a stark contrast to last year, when IPOs were raising record amounts of cash, valuations were sky high and venture firms’ wallets were wide open. For example, Y Combinator said companies have to “understand that the poor public market performance of tech companies significantly impacts VC investing.”
Posted on May 26, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Guggenheim Partners Chief Investment Officer Scott Minerd said he expects Bitcoin to fall to $8,000 and that cryptocurrency has become a market of “a bunch of yahoos.” Minerd said his firm bought Bitcoin at $20,000 and sold when it reached $40,000. Guggenheim no longer holds any Bitcoin, but recommend short selling it. Bitcoin fell from a high of more than $65,000 in November to trade at less than $29,000.
Tesla stock is down more than 40% this year amid a broad-based sell-off in high growth companies. Analysts warn the car maker’s difficulties in China have become impossible to ignore. Elon Musk’s offer to buy Twitter is also weighing heavily on the stock (NASDAQ: TSLA).
Federal Reserve officials suggested that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high. They believed that the Fed should “expeditiously” raise its key rate to a level at which it neither stimulates nor restrains growth, which was set as a rate of about 2.4%.
The USbudget deficit is expected to fall from $2.7 trillion in 2021 to $1 trillion this year, reflecting lower government spending and faster economic growth.
The SEC proposed rule changes that would crack down on misleading claims made by ESG funds and require more transparency from them.
In a recent article on the Mises Institute’s Power and Market blog, Kyle Ward appealed to the subjective theory of value to castigate Peter Schiff for his notorious skepticism of Bitcoin:
Posted on May 10, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Bitcoinis now almost 50% off its all-time high. If bitcoin is a store of value, it certainly hasn’t proven itself yet. With bitcoin’s price falling below $30,000 for the first time since July 2021, at least 40% of bitcoin investors are underwater.
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Markets: The S&P fell below 4,000 points for the first time in more than a year as inflation concerns trampled a day down on Wall Street. Big Tech companies lost more than $1 trillion in market value over the past three trading sessions alone.
Posted on April 14, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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OneNFT: In March 2021, a crypto-currency entrepreneur bought an NFT of Twitter founder Jack Dorsey’s first tweet for $2.9 million. Last week he listed it for $48 million, promising to donate half of the proceeds to charity. But when the auction closed yesterday, the top bid was just … $277.
DEFINITION: NFT stands for non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends. Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another.
Ten Year Bond Yield: 2.701%
Markets: The S&P and NASDAQ snapped their three-day losing streaks, and airline shares boomed after Delta said it would report a Q2 profit. And, Peloton’s shares are down nearly 30% this year and have lost virtually all of their pandemic gains.
JPMorgan’s profit dropped 42% last quarter and it wrote down almost $1.5 billion in assets it linked to the war in Ukraine and inflation.
Posted on April 13, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Markets: Stocks blew a lead in the afternoon for the NASDAQ’s and S&P’s third straight losing session. Blame a red-hot inflation report that took another bite out of stocks.
DIGITS: Money is about to enter a new era of competition and digital technology is poised to change our relationship with money and, for some countries, the ability to manage their economies.
Posted on April 1, 2022 by Dr. David Edward Marcinko MBA
By Michael Accad MD
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In a recent article on the Mises Institute’s Power and Market blog, Kyle Ward appealed to the subjective theory of value to castigate Peter Schiff for his notorious skepticism of Bitcoin:
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Schiff is quick to point out that gold has uses outside of being money. It is used in electronics, dentistry, and jewelry, to name a few…This leads Schiff to claim that bitcoin is unlike gold in that it has no fundamental (or objective) value. His mistake is obvious: there is no such thing as objective value, whether we’re talking about gold or bitcoin. Value is subjective and determined internally by individuals…Yes, gold can be used to build electronics, but that only has value because consumers subjectively value electronics. (emphasis in the original)
I believe Ward errs in how he relates the subjective theory of value to Bitcoin, but his error stems both from an ambiguity in phrases like “objective value” and from an ambivalence in how the founding fathers of Austrian economics themselves considered the relationship between the human agent and the good being valued.
In this article I will argue that the “orthodox” Austrian school position regarding the emergence of sound money from commodities—first proposed by Carl Menger, subsequently developed by Ludwig von Mises, and presumably adopted by Peter Schiff—is the correct one. But I will appeal to a Scholastic notion of the good to defend that view. That notion of the good is also critical to secure the foundation of a sound economic science.
EDITOR’S NOTE: Florida Podiatry Practice Now Accepts Bitcoin
JAWSPodiatry is now one of the first medical practices in South Florida to accept Bitcoin! Bitcoin, as you know is a virtual currency that has generated a lot of headlines and has been growing in use and acceptance across the country and around the world. It is a distributed, peer-to-peer digital currency that functions without the intermediation of any central authority.
Posted on March 26, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Bitcoin: Rallied 2% after Russia said it would begin accepting it as payment for oil and natural gas.
Retail Sales: Fell and consumer confidence is at its lowest level in 16 months amid the recent surge in living costs.
Office for National Statistics: Reported an unexpected 0.3% decline in retail sales volumes for February, although some of this weakness reflected a drop in food sales as more people went out to pubs and restaurants.
Consumer Confidence: Continues to deteriorate after GfK reported the worst reading since November 2020 as households face up to 30-year-high levels of inflation, record fuel and food prices and a recent interest rate hike.
Posted on March 7, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
Markets: The war in Ukraine and upcoming Federal Reserve [FOMC] rate hikes took their toll on stocks—the DJIA took another licking for its fourth straight losing week and travel stocks were especially bludgeoned.
Energy: Due to the rapid run-up in oil prices, average US gas prices surged to $3.84 a gallon on Friday. At 11 cents higher than Thursday’s levels, it’s the fastest price increase since Hurricane Katrina in 2005.
MARKETS
NASDAQ:13,313.44-1.66%
S&P: 4,328.87-0.79%
DJIA: 33,614.80-0.53%
10-Year 1.732%-11.2 bps
Bitcoin: $38,879.81-8.69%
Delta: $34.52-5.58%
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FUTURES: Dow futures lost 400 points, or 1.19%, while S&P 500 futures and NASDAQ 100 futures slid 1.5% and 1.91%, respectively.
OIL: West Texas Intermediate crude futures, the U.S. oil benchmark, traded as much as 10%, hitting $130 per barrel at one point before pulling back slightly. The international benchmark, Brent crude, traded 9% higher to $128.60, also the highest prices seen since 2008.
Posted on March 3, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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Economy: Federal Reserve Chair Jerome Powell told Congress that “it’s too soon to say” how the war in Ukraine will affect the central bank’s plans, but for now it’s not enough to derail the FOMC from hiking interest rates later this month.
Markets: Stocks rose across the board with strong corporate fundamentals outshining geopolitical worries…at least for a day. Intel had a strong showing after its CEO got a shout-out in the State of the Union address (to be fair, we have no idea if those two things are related).
Posted on February 26, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
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MARKETS: The Dow Jones Industrial Average surged 834.92 points, or 2.5%, to close at 34,058.75, with the blue-chip gauge notching its best daily gain since early November 2020.
S&P 500 rose 95.95 points, or 2.2%, to end at 4,384.65.
NASDAQ Composite Index added 221.04 points, or 1.6%, to finish at 13,694.62.
For the week, the Dow dipped by less than 0.1% while the S&P 500 rose 0.8% and NASDAQ Composite climbed 1.1%. The S&P 500 and NASDAQ benchmarks wiped out losses from earlier in the week.
Posted on February 22, 2022 by Dr. David Edward Marcinko MBA
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By Staff Reporters
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Markets: The domestic markets were closed yesterday as stocks around the world tumbled.
Crypto: Bitcoin was trading at $36,649 at 2:30 a.m. ET, falling nearly 6.5% in the last 24 hours, according to data from CoinDesk. The world’s most valuable cryptocurrency fell below $40,000 over the weekend, and has continued to slide as the Ukraine crisis intensifies. The currency has lost almost half its value since its November high of $68,990 due to geopolitical tensions, the prospect of interest rate hikes by the US Federal Reserve and curbs by some major economies on digital assets. Bitcoin’s peers have also been faring poorly. Ethereum, the world’s second most valuable cryptocurrency, fell over 8% in the last 24 hours and was trading at $2,520.
Putin: Russian President Vladimir Putin dramatically escalated the Ukrainian conflict. He recognized two separatist regions in eastern Ukraine as independent and ordered Russian troops to enter those areas, which may provide the pretext for an invasion of other parts of the country. Western leaders condemned the move as a violation of international law and the US said it will impose sanctions on those regions.
Posted on February 9, 2022 by Dr. David Edward Marcinko MBA
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By Staff Reporters
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Markets: Solid corporate earnings boosted Wall Street and all the major indexes are now higher for the week. Pfizer dipped after posting lower-than-expected Q4 revenue but it did bring in $36.8 billion in sales in 2021.
Economy: The US trade deficit rose to a record $859 billion in 2021 (up 27% from the year prior) due to a surge in imports and higher prices for those imports.
Bitcoin: Authorities arrested a husband and wife accused of attempting to launder 119,754 stolen bitcoin—valued at $4.5 billion. Along with the arrest of the couple, Ilya Lichtenstein and Heather Morgan, the Justice Department announced that it had seized more than 94,000 of the allegedly stolen bitcoin, valued at $3.6 billion—the largest financial seizure in the agency’s history.
Apple: Announces Tap to Pay. In a bid to encourage more smartphone intimacy, the company is releasing a feature that allows customers to spend money by simply tapping an iPhone against a merchant’s iPhone—effectively turning the device into a checkout register.
Posted on January 24, 2022 by Dr. David Edward Marcinko MBA
By Staff Reporters
Stock Markets: The S&P is off to its worst start to a year since 2016. The NASDAQ is in a correction. And the week ahead features a busy earnings slate and a Federal Reserve meeting.
CovisPandemic: Tony Dr. Fauci said he is “confident as you can be” that the Omicron wave in the US will peak by mid-February. In a growing number of states, that peak has already come and gone and cases are plunging in states like New York and Florida. Other states, such as Oklahoma, Idaho, and Wyoming, are still reporting an uptick in new Covid cases.
Crypto-Currency: Crypto investors, meanwhile, wish they got the weekend off like stock traders, because bitcoin, ethereum, and other digital tokens continued to sink.
Federal Reserve: Federal Reserve officials will get together on Tuesday and Wednesday against the backdrop of quaking markets. Investors will want to hear an update on Chair Jerome Powell’s views on inflation. This Fed meeting will likely be the last before an anticipated interest rate hike in March. And, a blizzard of companies will report including nearly half of the Dow’s 30 giants (American Express, 3M, IBM, and more) and tech heavyweights such as Apple, Microsoft, and Tesla.
Tax Season: The income tax filing season opens today and government officials warn it could be bumpy due to a depleted IRS. The Treasury says to file early, file online, and request your refund via direct deposit to avoid the severe headaches.
In order to gain a clearer view of the impacts of the incoming future of technologies and their economic, behavioral, cultural, political and other impacts, categorization can perform useful veil-lifting.
I’ll let the reader do the deep-dive research into the technologies underlying each of these currencies, but here is a peeled-away breakdown of their respective categories:
Whether these specific “coins” succeed the slaughtering rapidity of techno-culture shocks remains to be seen.
Yes, they are traded assets that can make you rich or poor. That’s certainly interesting. What matters much more than their capital markets is that each has attempted to confront crucial problems that can liberate the ramifying “potential energies” of other technologies that can plug in to them.
Their premises spur economy-generating economies.
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Don’t feel bad if you missed the Bitcoin gold-rush. That’s in the past. Sometimes understanding the world confers its own wealth (insert Latin aphorism here). If you run the currency of knowledge through the circuitry of imagination you gain the power of foresight.
Assessment:
That’s my two cents: take them and spread the wealth.
Disclosure: I hold Bitcoin (BTC), Ethereum (ETH), Ripple XRP and IOTA (MIOTA). But this post is not about finance per se nor is it about promoting these currencies as investments. Rather this post is about envisioning the four kinds of markets that the respective technologies underlying each of these four cryptocoins can help grow and power. These aren’t simply currencies and stores of monetary value – they are technologies.
Conclusion
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Posted on January 9, 2022 by Dr. David Edward Marcinko MBA
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By Staff Reporters
According to Wikipedia, a cryptocurrency, crypto-currency, or crypto is a collection of binary data which is designed to work as a medium of exchange. Individual coin ownership records are stored in a ledger, which is a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. Cryptocurrencies are generally fiat currencies, as they are not backed by or convertible into a commodity. Some crypto schemes use validators to maintain the cryptocurrency. In a proof-of-stake model, owners put up their tokens as collateral. In return, they get authority over the token in proportion to the amount they stake. Generally, these token stakers get additional ownership in the token over time via network fees, newly minted tokens or other such reward mechanisms.
Cryptocurrency does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC). When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
A cryptocurrency is a tradable digital asset or digital form of money, built on blockchain technology that only exists online. Cryptocurrencies use encryption to authenticate and protect transactions, hence their name. There are currently over a thousand different cryptocurrencies in the world, and many see them as the key to a fairer future economy.
Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency. Since the release of bitcoin, many other cryptocurrencies have been created.
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Enter GAS
Gas refers to the unit that measures the amount of computational effort required to execute specific operations on the cryptocurrency Ethereum network. Since each Ethereum transaction requires computational resources to execute, each transaction requires a fee. Gas refers to the fee required to conduct a transaction on Ethereum successfully.
Gas fees are paid in Ethereum’s native currency, ether (ETH). Gas prices are denoted in gwei, which itself is a denomination of ETH – each gwei is equal to 0.000000001 ETH (10-9 ETH).
For example: Instead of saying that your gas costs 0.000000001 ether, you can say your gas costs 1 gwei. The word ‘gwei’ itself means ‘giga-wei’, and it is equal to 1,000,000,000 wei. Wei itself (named after Wei Dai, creator of b-money) is the smallest unit of ETH
Posted on January 9, 2022 by Dr. David Edward Marcinko MBA
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By Ike Devji, J.D.
Crypto currency is all the rage and continues to make some coin investors small fortunes even as prices swing widely and scams emerge. These are some basic defensive measures to keep your digital wallet safe.
In 2013, a bitcoiner posted “I AM HODLING” on a bitcoin forum, intending to write that he was holding during a large price drop. He was explaining that most people are not successful traders and as a result they will inevitably just lose out in the process of trying to time the bear market, so instead he encouraged that bitcoiners should hold and trust bitcoin.
Since that day, this typo, “hodl,” has worked its way into the everyday vernacular of bitcoiners. It now represents the stance that not only should one not attempt to trade bitcoin through bull and bear runs, but also should not sell bitcoin under any circumstances because whatever asset it is one may purchase with it will one day be outperformed by bitcoin. For some purposes, this may be helpful, but for the adoption of a private money, this is exceedingly dangerous.
Posted on December 6, 2021 by Dr. David Edward Marcinko MBA
StockMarketInvesting Perspectives
By Staff Reporters
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Markets: With stocks selling off sharply last week, at least we still have Crypto, right? Right? Bitcoin tanked more than 20% at one point this weekend, dragging many other digital tokens with it. El Salvador, for one, bought the dip.
Covid: At first glance, Omicron does not appear to cause more severe illness, Dr. Fauci said yesterday. Early results out of South Africa, where Omicron is spreading, show it’s not driving up hospitalizations. Fauci called the data “a bit encouraging.”
Posted on August 25, 2021 by Dr. David Edward Marcinko MBA
In this episode, DWealthMuse host, Dara Albright, and guest Jeff Ross, CIO of Vailshire Capital Management, discuss why bitcoin may just be that once-in-a-species asset class that saves the planet from economic and, yes, even environmental ruin.
Thisepisode is loaded with so many great insights including:
Why Jeff believes bitcoin’s investment risk has evaporated;
How bitcoin fits into Warren Buffet’s investment thesis;
Two characteristics bitcoin skeptics share: a lack of understanding and deep ties to the traditional banking system;
Why bitcoin is a dishonest politician’s worst nightmare;
Why every modern retirement portfolio should have bitcoin exposure;
Why regulatory scrutiny may be turning away from bitcoin and heading straight towards ethereum and altcoins;
How bitcoin could solve the world’s energy problems;
Why we may be nearing the end of the Keynesian economic experiment;
How bitcoin forces an honest unit of accounting by governments;
Why fiat is destined to self-destruct while bitcoin is designed to appreciate in time;
Whether bitcoin can reach a new all-time high by Jeff’s August 29th birthday and cross 100,000 by Dara’s December 24th birthday?
Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
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