from 16.7 to 17.2 Trillion in roughly six weeks...80 plus Billion a week, more than 10 Million a Minute...a three percent pop...all on good old American Credit. BTW, unfunded obligations broke through 126 Trillion, just 1.1 Million for every taxpayer...just living the "real" American Dream
even the German Retail Sales went negative...but it's the Holiday...just working too hard to shop...it's all good
take Afghanistan, just buy a shyt load of X-boxes and Video Games for Al Queda, and they will never come out of their caves again...and a few boxes of Cheetos and a case of Dr Pepper...problem solved
I have no clue...do they break even on these deals or make money?
abolishes "mortal sins," and instructs Vatican Bank to go long and buy Bitcoins...who knew?
may sound Trivial, but it's still a sign of the excess "bubble" and the millions of Americans who will go hungry this Thanksgiving may not be so impressed.
today's diatribe on Bitcoins has been fascinating to say the least. US National Debt stands at 17.224 Trillion Dollars...up over 400 billion in the few weeks since the Debt Ceiling was raised. The US spends 10 Million Dollars a Minute in Money it doesn't have. That's a 100,000 $100 Bills a Minute. Throw in 85 Billion a Month by the Fed and were talking serious money. Yet, everybody is concerned that Bitcoins can't go higher. Since Saturday, they're up another 25%. I've almost convinced myself to buy one and I suspect I'm not alone. Good luck all.
cannot happen....the system is designed so that the total number of Bitcoins can't exceed 21 Million. Currently, there are 12 Million in Circulation. "Mining" for Bitcoins get progressively more complex, but anybody with a computer can attempt to mine them. There are still roughly 9 million out there, and annual mining yields are expected to fall 30% a year as the cryptography becomes more complex.
Call it a Bubble, try again...Wall Street lives by "secondary offerings." Bitcoins cannot.
just don't know why he sounds angry. I'm just a skeptical and grumpy old man who has been short the market .
After the WSJ weekend review of Bitcoins just 4 days ago, I have researched extensively and have reached one very simple conclusion...Bitcoin is the ultimate Bubble safe haven insurance policy. But why? Simply put...there are so many other Bubbles about to Burst...market bubbles, bond bubbles, debt and credit bubbles...irrespective, there are soon to be huge sums of money and asset transfers.
There are less than 1 million active Bitcoin users. Hedge funds and Financial Institutions have started to dabble in Bitcoins. The thought of being able to transfer Billions in virtual currency in a nanosecond and avoid
government inquiry...that's powerful. A billion dollars in $100 bills would fill a shipping pallet and require a forklift to move. A billion in gold would take days to move. The amount of wealth rapidly exiting the markets that wants to stay under the radar is about to become epic and Bitcoins may ultimately be that vehicle.
I wouldn't be surprised to see a Bitcoin equal to ten ounces of gold in the very near future. Pud, hang in there, but lighten up.
bordering on ignorant bliss.
and maybe two Black Friday Stampedes