LOL @ Jamie Dimon and Janet Yellen throwing a hissy over the Fitch credit score downgrade.

Same hissy they had in 2011.

McLovin' it. 

Fuck ya'll, convince Powell to drop rates if you want to see the economy move again instead of completely crater.  

Another fkn scam run by whale scammers (miners and exchanges).

Money on the blockchain is not more "rare" or "collectible" than other money, it just is. Spot market sets price.

Because FUNGIBILITY.

However, if anyone wants it, I've got some super rare crude oil pumped from 3 Billion Years Ago that I'll sell to collectors for $1M/barrel.  

Oh no no no, the Fed and Wall Street won't let this stand for very long.

Fitch downgrades U.S. long-term rating to AA+ from AAA
https://www.cnbc.com/2023/08/01/fitch-downgrades-us-long-term-ratings-to-aa-from-aaa.html

Total baller, but something tells me that Saylor will sell (some?) coins during the next ATH.

I just hope he doesn't dump a shit ton on everyone's heads when that time comes. He alone could move the market down considerably.  

Just a clarification, because I think these kind of vague notions are exactly the problem with the "crypto" scam industry.

On CMC there are currently 1.8M+ "cryptocurrencies" listed, and out of all of those I can count the number that are NOT securities on half a hand. Like maybe with 3 or 4 fingers max. Maybe 6 if I squint sideways.

So half a dozen out of 1.8 Million and counting. It's such a disparity that it's not even worth debating.

So...yeah. That.

Finally starting to see the signs I've been waiting to see for a while...Bitcoin hit pieces coming back into the MSM again.

Why substituting cryptocurrency for gold exposure may be a costly mistake
https://www.cnbc.com/2023/07/29/substituting-cryptocurrency-for-gold-exposure-may-be-a-costly-mistake.html

This is a good sign. Confirms what we already know.

We're going up soon. 🚀

Exactly. It has to look like a complete blindside accident.

But keep an eye on the equities market. It's slowly melting up. Clearly the Wall Street insiders already know what's up.

Also, the U.S. interest payment on debt is complete unsustainable long term. And they know this.

The Fed and Jay Powell is so so so full of shit.

They'll look at all the seasonal spending over the summer (which would be a completely normal, typical level of spending by the way), call it "still inflation" and hike again in September.

But who the fk cares at this point. It really doesn't matter what they do for the rest of this year.

They've already signaled that a change in monetary policy is coming next year. They are already signaling that rates cuts are coming.

But why, out of the blue, would they just start cutting rates come first of next year?

Hint: they won't. There's no fkn way they start cutting rates without a valid reason. That reason is the (planned) rug-pull event they already have hashed out.

Whatever the trigger will be, whatever dominoes they allow to fall, it will be a shitshow.

And the Fed will be all like, "Oh wow, who could have seen that coming?? Hur dhur, I guess we have to cut rates now."  

See, that's precisely why they can't maths.

Their investments losing badly YOY adjusted for inflation is in my mind not "risk adverse" and "safe", it's just stupid. They are still losing, just not as bad as all cash.

But normies gotta norm, bro! ¯\_(ツ)_/¯

The problem with normies is that they can't maths.

They completely laugh and scoff at bitcoin as a valid investment, all the while losing money in the equities market vs. inflation.

You could easily make the case that bitcoin roughly doubles in value every 4 years as measured from its lowest bear market point to lowest bear market point. (Yes it's probably more than that, I know, but I'm just being conservative here).

Still, extrapolated, that's ~ +25% gain year over year. Show me ANY other investment that *consistently* does that, that Average Joe can invest in long term.

I'll wait, normies...

and then they wonder why they are poor....

OT:

In order for there to be an economic purge in society, it has to be persisted long enough by TPTB for a psychological change among the people. Shock, denial, then acceptance.

The message being sent, over time, becomes clear and eventually self-evident: "When the smoke clears, these jobs of the past are not coming back. Get used to it."

https://www.youtube.com/watch?v=fsZQL-_Y9CA

A lot of people think companies like Bud Light, Disney (Marvel, Lucasfilm, Indiana Jones), Netflix, Amazon, Target, etc. must have some sort of death wish.

They don't understand that all this essentially free ESG money these corporations are being given, comes with a bullet list set of requirements and mandates the projects must adhere to, but otherwise no strings attached.

The ESG banks are literally subsidizing corporations with free money that merely has to adhere to a social/political agenda.

That is all. That is why these corporations lined up for it and took it hand over fist.

Their execs don't care if the projects they spent this money on actually make a profit, because it was free. So in their eyes, they lost nothing. Plus they can write these off as massive tax losses. (I've even read that they can write off ESG projects that don't even get released to the public, i.e., that get shelved half way through production, like what Warner Brothers did with their Batgirl movie).

Do you ever wonder why their CEOs and other top execs are always seen pictured smiling and relaxed in the media, even in the face of all these massive multi-billion dollar flops, missteps, and bad publicity?

This is why.

But the joke is on the corporations themselves; they are literally destroying the image of their own brands overnight.

When all the free ESG money runs out, will they be able to recover and rebuild their brands? Will they be able to actually make real profits again?

Doubtful. The people will remember. Pepperidge Farm remembers.  

Yep, you're soooo right Jay... they're clearly not going to smack it down again.  /sarcasm 

Wow, the whale traders must be losing their touch.

We're back above $30k.

They need to short more, smack it back down.

Can't have one of those pesky rallies happen too soon. Lol. 

Ah...there it is...

That ADP jobs report was total bullshit.

High paying jobs in finance and tech sectors actually decreased.

Minimum wage jobs and temp work at summer restaurants, theme parks and resorts don't count.

Those jobs will vanish again when summer is over.

Plus I'm sure the total jobs number was padded like hell.

The Fed just wants to justify more rate hikes, that is all. 

Yeah, totally agree.

After 5 years living on our property, our tax man reassessed ours based on skyrocketing land values in the area.

Our property value went up ~40%.

Most people would be like "Hell yeah! My house/land value increased ~40% in just 5 years!"

Well so did my yearly property taxes by that same amount. On a property I already paid for in full and plan to never leave.

So no, this fkn sucks. I'd be happier if for the rest of my life they valued my house and land at $0.

Bitcoin over $30K ??

Oh no, the whales can't have that going on for long.

No no no.

Time to Bart smack it back down in 3...2...1...