His Wikipedia biography says he published his last book in June, 1946, two years before he died. He must have been paid royalties from it before he died, so I doubt he was penniless. Perhaps he could have been richer though.
Perhaps. And maybe he was as proficient at contract law as he was at trading, and got zip for royalties? The point's he didn't get rich trading. |
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If the debt market collapses, the bond market will also collapse
If US defaults on its government bonds, your pensioners have more than their pension to worry about: America, as they know it, is no moar   Protip for Bob: Don't expose your retirement savings to high-yield (aka "JUNK") bonds, and stay away from bitcoin - it's tanking, bro. |
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Losing trade with Russia does hurt Europe and other places, some worse then others but in the main Russia was and is about oil and gas and they can be replaced.
How do you replace 7 million barrels a day oil exports from Russia? That's like 8% of all world supply. By decreasing demand? By other countries producing more? By splitting coal & burning atoms? Who knows, maybe them newfangled solar panels, windmills, and biodiesels have finally reached the tipping point?  |
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The reason stock prices are so high and everything looks good right now is purely because of hyperinflation which is the amount of money that the central banks are pumping into the economy, they're keeping things going over Christmas and new years and then eventually all of it is going to collapse in on itself with the politicians and bankers playing completely innocent about it and not understanding what's going on.
So this Monday's the big day?  |
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Aha, you "discovered" libertarianism late in life, and, like a born-again Christian still flushed with rapture, you can't wait to share The Good News. The reason you have trouble finding people willing to debate your "libertarian" thinkings is not unlike the reason born-agains have trouble finding willing victims to discuss Christianity: It would be an exercise in frustration and futility, much like debating theology with a rusty bucket.  Libertarianism is a vague, umbrella term for a slew of ideas, most of them focusing on things Libertarians are against, rather than for. Only one thing could be said about Libertarianism objectively: No libertarian societies exist today or have ever existed... ...thus limiting libertarianism debates to teh purely theoretical, hypothetical realm. Both Christianity and Communism are great in theory. Libertarians appropriate many important thinkers like Proudhon, who believed that property was theft,
"The proprietor, the robber, the hero, the sovereign — for all these titles are synonymous — imposes his will as law, and suffers neither contradiction nor control; that is, he pretends to be the legislative and the executive power at once . . . [and so] property engenders despotism . . . "without actually subscribing to the basic tenets that make the philosophies of said thinkers intrinsically consistent. TL;DR: I'm glad you've found validation for your antisocial, reactionary ideals in what you consider to be Libertarianism, but I'm not sure what it is you're asking folks to do. Mebby trot them out one at a time, I'll see what I can do. |
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Didn't Ralph Elliot die nearly broke?  I'm all for EW, and DanV for that matter. Good guy. But nothing really can accurately predict a market perfectly. I'm more of a firm believer in the efficient market hypothesis, with a mix of TA manipulation / herd mentality. Which I guess in a sense is what EW is trying to figure out. Hodgepodge IMHO, a broken clock is right twice a day kind of thing. I like your closing quote, gotta remember that one. The inventor of coca-cola died broke after selling the recipe for next to nothing. Coca-cola's not done too badly since then though. A trader who dies broke is a ____ trader. His failure to become rich could be explained by one or more of the following: 1. Him not believing in his own analytical methods, thus never using them. 2. Him not applying his own methods correctly, i.e. not fully understanding his own system. 3. ? ? ? Where does it say Ralph Elliot die nearly broke? I had a look at various biographies but I could find nothing that said he died nearly broke. "At a trading conference, Alex Elder made it a point to mention that R.N. Elliott died a relatively poor man. Kind of odd that someone who discovered the "key" to the financial markets didn't make a few bucks." - http://www.dailyfx.com/forex_forum/elliott-wave/24204-elliott-wave-trading-discussion-583.htmlFar from a primary source, but if you're genuinely having trouble finding stuff, this should get you started |
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Didn't Ralph Elliot die nearly broke? I'm all for EW, and DanV for that matter. Good guy. But nothing really can accurately predict a market perfectly. I'm more of a firm believer in the efficient market hypothesis, with a mix of TA manipulation / herd mentality. Which I guess in a sense is what EW is trying to figure out. Hodgepodge IMHO, a broken clock is right twice a day kind of thing. I like your closing quote, gotta remember that one. The inventor of coca-cola died broke after selling the recipe for next to nothing. Coca-cola's not done too badly since then though. A trader who dies broke is a ____ trader. His failure to become rich could be explained by one or more of the following: 1. Him not believing in his own analytical methods, thus never using them. 2. Him not applying his own methods correctly, i.e. not fully understanding his own system. 3. ? ? ? |
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Mt Gox and China again!!, I really wish Mt Gox never happened, the price would be at $2000 or higher. People just lost hope when things like Mt Gox happended . Not much of a Gox fanboi myself, but it has driven bitcoin price since 2010. We could be trading ~$1 without it. |
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^ The dumps aren't causing a huge drop in price... we are very close to finding a near term bottom here  Yep. And hunkerin' down there for a while. Would feel bad for leveraged longs just about now, but my heart's two sizes too small I am fully leveraged long! Planning to buy a huge amount at 300 if we ever hit (which we probably won't!) How could anything go wrong? |
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"The world is in huge debt"? May I ask to whom? Or don't you think to ask stuff like that?
Man in what pink universe you live ? [snip] To whom well: mostly FED, IMF, World Bank, ECB, BOJ,RBNZ,RBA ..etc They all hold huge amounts of debt, from across the world. So if the world owes money to [assorted central banks], and, according to the rocket surgeons here, this debt can never be paid, why is it that [assorted central banks] keep lending the world money? Are they just real nice guys? What happens if the world doesn't pay its debt? Do the [assorted central banks] foreclose, shut off the lights sun, and the world ends? Do you think [assorted central banks] will hire Dog the Bounty Hunter to collect this debt, or will they just keep letting the world slide? Help me out here. If a country doesn't pay its debt, it get shut off from international debt markets. Since these countries anyway have a fiscal deficit, they have to raise taxes to pay for their expenditure. So I guess common Bob will be left holding the bill. According to your friend, the other learned economist, the world owes its debt to central bankers. You seem to disagree, suggesting that the world owes money to the world, and the world will stop lending the world money if the world doesn't pay its debt. So why don't you explain to me how this is gonna work, and why Bob is going to foot the bill? Who should the world pay its debt to? |
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FFS, zerohedge  Next you'll start quoting stormfront as your reliable source. Is Zerohedge not reliable? This about sums it:  |
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I'm also such a "Money-Primter" by myself, and doing it also for business (not large business, but 25TH is at least a big hobby....for me more a small businnes) and I also have to pay the high electricity bills here in Switzerland and still I would be able to wait a few hours or even 1 or days to trade my coins,when I will get then 50, 80 or more USD more. And since the BTC market reacts very fast compared to other markets, this woud not take long (as I described before) FOR THE PRICE TO CLIMB.
You might be overestimating how much the market can be moved by miners. If bitcoin was something like oil or food - a necessity that must be had at almost any price - temporarily halting the supply would quickly hike the price. But it's not time-critical, not a necessity, and if the price goes up, the buyers can simply stop buying and either wait, or stop buying forever. But the point is that enough people must come to the same conclusion, but I feel that people today are in the mood "Better I sell all now, price could be less tomorrow" and this is the reason that in the end then really puts the price downwards.
On the Oilmarket or Soja or Aplle-Shares we (the people) do not really have it in our hands to change the market in some way, but on BTC Market we would.
Just still the problem how to get enough people together for a coordinated action....I'm sure it would work...BTC's were always bought, at 1000, at 800, 500 or 300...they were bought, so if sellers stop putting them on the market for less than a certain price, they willbe bought as well, maybe with a short downbreak os trade volume, but I'm sure this would only last some minutes to few hours..
What you are describing is done all the time IRL. Think OPEC (bunch of oil "miners" getting together and agreeing not to undersell each other), or even trade unions (a bunch of proles getting together and promising not to underbid each other). And it works, but only when the stuff being sold is a necessity. Bitcoin isn't. |
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Buffett? I think it's more like 65 billion dollars.
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When the disconnect finally snaps, the crash will be nasty. Already we are starting to grind down in commodity deflation. The threads connecting finance and material economy are too weak to bind them. They are stretching. It is a really good time to be in cash (and crypto). Poor time to be in equities, bonds, commodities (including monetary metals for the time being, although that will change when the fan starts to make the sloppy noise).
Such pretty prose, and your end time imagery - fantastic! Crashing, grinding, strained threads stretching, sloppy fans flopping. Write bitcoin fanfics, would totally read for sure. |
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Is this post your "expert" opinion on what bitcoin's price will do, or you taking the piss? I'm sensing enthusiasm, gentlemen. This thing is getting ready to blow launch, last call!
It's a joke, friend, relax! You'll enjoy it more |
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I'm sensing enthusiasm, gentlemen. This thing is getting ready to blow launch, last call!
Have you finally bought your 2 coins? Nah, just ribbin' the true believers. Enjoy seeing a spark of hope in their eyes only to be drowned out by their tears just moments later. Flux. Life. Is that so wrong? |
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four digits
That. All after the decimal point. |
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I'm sensing enthusiasm, gentlemen. This thing is getting ready to blow launch, last call!
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All of the major scams were orchestrated by members with high trust ratings.* Those ratings eventually fell, just like TF's, but only after the traps were already shut.
*The trust system is about a year old, so I'm talking about the scams which happened with the trust system in place.
So what about TradeFortress, his account wasn't stolen or hacked AFAIK.
Nor was Ukyo's, nor cryptocyprus' (Danny Brewster/Neo Bee), Garr255, KSlaughter, etc., etc. All the major scams were done by trusted members as long as the trust system was in place.Are you trying to conclude it is due to TRUST SYSTEM? You are probably an old user or you are an alt of ... ? ~~MZ~~ I'm not trying to do anything. What I am doing is pointing out that "All the major scams were done by trusted members as long as the trust system was in place." Not sure why this needs to be explained. My being an alt of another user is irrelevant - having alts is a standard practice on this forum. Because freedoms. If you feel alt accounts should not be allowed, petition Theymos/mods. |
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