With the exception of a few k's worth of pet projects I am out. I really want to make a large short play, but my history with the timing of shorts has been pretty disastrous. I will be the first to admit that i lack the confidence to pull the trigger big.

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Jerome Powell is a handsome man

How much more can GBTC run? The premium is surely getting out of control, no?

“the end of the road“. We certainly are kicking the can down the road. We never unwound from 2007/2008. Look, I took PPP and would take it again but let me tell you as long as the US remains aimless regards COVID it’s a waste of money. Let’s put a finer point on things. It’s too late to mitigate.

waiting for the moment the market grows concerned about the impasse between the parties regarding the HEALS or Heroes or whatever nonsense is out there.

take 10% off your market returns cause the dollar drills.

New York investment bank Goldman Sachs is raising its price target for gold while sounding the alarm about risks to the U.S. dollar.

In a note to clients Tuesday, the bank reaffirmed its position of gold being "the currency of last resort" amid uncertain economic conditions, raising its price target for gold to $2,300 per ounce after a surge to record levels earlier this week.

The bank tied the metal's rally to a "potential shift in the U.S. Fed towards an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty and a second wave of Covid-19 related infection."

"Combined with a record level of debt accumulation by the U.S. government, real concerns around the longevity of the U.S. dollar as a reserve currency have started to emerge," the note explained.

https://finance.yahoo.com/news/goldm...142054436.html

On a side note near and dear to Sonatines heart;

My god father was a beta tester for Tesla model S autopilot, and on my fathers advice I purchased 200 shares @<$250 in 2015. I sold it yesterday. I just got a text from my dad. "you might want think about taking some profits on TSLA"

Chicken little out.

i read something funny.. people were calculating what they would be holding if they bought tesla shares instead of a tesla. the numbers were pretty fuckin wild.

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greatest thing I’ve seen in ages

These things are always nice...


...i think we're currently keeping the crash away by dumping more money to the asset bubble. I think you can still call it money. It doesn't really come from anywhere but it's definitely going somewhere. It's a good thing we took care of that interconnected and over leveraged issue in 2008.

Gold just broke 2k ceiling
bonus question how many gold has to change hands so it goes from 1970 to 2000 in just 3 hours?

we're literally cannibalizing the dollar to prop up the economy. and lately im wondering what would happen if we stopped and im not sure i like it.

like, i assumed this was all about trump getting reelected but what if its about avoiding another argentina currency collapse....

and then today a bad storm knocked out power here for 12 hours, going on days, and im asking myself; are we already there? are we second world?

There's some speculation that at current rate dollar is 2-5 years away from losing reserve currency status. That would generally mean a collapse instead of a crash. Crashes being once decade type of deals, where as collapses are more once a century events.

Previously these were after wars or exceptional levels of civil unrest. I don't know how nuclear deterrent plays here. And the current riot season in US isn't of that scale.

Dunno.

I'm just mildly amused by the criticism that Bernie and AOC got from suggesting that US would use tools of Modern monetary theory to do some good. Creating long term growth and taking steps to deal with income inequality. Silly Billy's. Everyone knows nothings free. Fast forward today where everyone is embracing a mildly bastardized version of Modern monetary theory. Obv there's no growth and it's just increasing inequality. Debt (printing money being a subset) is manageable as long as it's balanced by growth. Also fairly sure MMT didn't include breaking the basic functions of a market.

Oh well. Interesting times and all that.

well i am in sonatine's sinking boat and him being the figurehead of doom riding into the smoldering sunset of catastrophe which is the US and maybe worldwide economy