Yeah regardless of it being made up and effectively digital/not physical, the concept of bitcoin vs many other digital currencies is at this stage there is limited amounts of it.

as potentially mentioned previously there are some who think the feds are simultaneously sabotaging our current fiat currency and directly responsible for bitcoin (aka is mr Nakamoto)

Where do you put your money in this kind of environment? I'm thinking of buying a little gold. Rick is right. There is no free lunch. The FED has been blowing bubbles since 2008 and eventually an "unexpected" problem will arise.

I have kept about 20% of my 401k in foreign stock mutual funds as a lazy way to hedge against the dollar. Now that doesn't seem to be sufficient in terms of breadth. I could see incrementally dollar cost averaging a little of that into metals and cryptocurrency as a secondary long term hold.

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"When people want their version of the truth, they go find it, no matter how baseless their beliefs." -- Ken Rosenthal

Supposed to be a big FED meeting tomorrow around 2pm.

I think the markets were a little spooked today.

At least my small portfolio was.

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No raising interest rates allowed! I haven't unloaded all my tech stocks yet and they're still recovering from March.

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They’re going to immediately jack the Prime Rate back to the old days of 22%.

That’s the last thing they’ll expect.

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You know me like that.

You’d know better than me, but I think the prime rate is set by the banks. I believe the Feds Fund rate is indirectly controlled by the Fed through targeting and open market operations. And Libor is fixed by British twenty somethings on chat applications.

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Hawaii (fuck) You

It is. But banks tend to move in lock step with it generally. Might be different now considering the lengthy period of near 0% rates.

My first job was tracking the Prime Rate.

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You know me like that.

Even up to 10-15 years ago all our variable debt was tied to Prime. Then they switched to 30-day LIBOR.

Now they are scrambling with books of legal addendums I have to read about what will happen in 2022 and 2023 so we don’t have to redocument all this stuff and incur $5 grand in legal fees in the process.

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You know me like that.

Yeah I see Libor linked debt in most audited financial disclosures. I have not seen prime used in many years.

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Hawaii (fuck) You

More Santelli yelling about inflation 7 years ago.

https://m.youtube.com/watch?v=EU9U3ZnAD5E&feature=youtu.be

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Get psyched for SOFR, SONIA and EONIA...coming in hot!!

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I listen to William Devane. I buy gold and I buy it often.

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Elections have consequences.

I'm buying all the silver. It's 100% manipulated. Back up the truck!

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When people are lame, they love to blame.

The Fed press conference is today. I hope they ask him some tough questions.

Yes at 2pm!!!

Read my posts!!!

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I look for recession "proof" stocks/etfs/funds consumer staples, healthcare.

I guess the party stops in 2023.

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the problem i have with gold is we can make it. right now, it costs one quadrillion dollars to make an ounce, but there is no apparent reason that says technology can't bring that cost down. we are constantly bringing down the cost of energy production, and that alone could one day make gold production feasible. nearly free energy would open the doors to make really any molecules we want. so, while the cost of gold wont drive these costs down, other elements certainly would and that would inherently allow us to make gold cheaply.

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the world will always the world. your entire existence is defined by your response.

I want their job.

They consistently make predictions about actions they will take two years from now and adjust them multiple times within that time frame.

A plan to do something two years from now is not a plan.

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You know me like that.

Tulips.

So the SEC is going to be checking daily, maybe hourly, if these hedge funds have the capital to cover their losses.

If they don’t I guess it’s a margin call.

Instead of monthly.

Starting Wednesday.

Denis, or anyone more enlightened then me about the market, can you explain the implications.

The apes seem to be very happy.

https://www.reddit.com/r/Superstonk/comments/o4ziy1/srnscc2021002_in_effect_starting_wednesday/

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I am not well versed on collateral requirements. I read through the SEC release. It seems like a nothing burger for the markets.

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Hawaii (fuck) You

Now is the time to buy etherium.

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Yeah buying the dip is prolly a good idea while the crypto crash is happening right now.

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Wait for signs of recovery. The dip is not done yet. You might see a bit of a spike by the end of the week. Wait out that bear trap and then follow ETH down to 1,400 or lower before buying the dip.

Or at least until after JBills margin call rules go into affect. Some speculate this is institutional money getting pulled out for collateral/margin requirements.

That sounds like a good guess.

Good thing CNBC is blaming China for the crash, and not investigating further.

Wouldn’t want the boomers to know too much!!!

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My favorite is when GameStop or AMC spike the narrative is Reddit is back at it again. As if retail is sitting on billions to drive 20million of volume on a 225 stock.

Yep.

It’s all so corrupt.

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