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June 27, 2016, 04:28:09 PM |
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Ok MingLee, I can broadly accept your statement: the charts exist, and the correlations were widespread.
But do not forget: the FTSE, the Dow, the NYSE, the London Housing Market, the US Housing market..... and alot of the Asian markets affected by proliferating Yuan printing ALL have been directly & seriously over-pumped ever since the 2008 financial crisis. The central banks relating to the jurisdictions where those markets take place have been printing and lending money like crazy; the US monetary base has more than doubled since 2008. All those Trillions of dollars went into the US stock and housing market, borrowed by large brokerage firms and hedge funds at between 0.5% and -0.5% interest. Literally negative interest rates. The central banks were desperate to get that new money out there.
Does anyone remember this: "The Times, 3rd January, Chancellors announces second bailout for the banks?"
Satoshi didn't choose that headline just to prove which day he mined the Genesis Block, he chose it as a poetic expression of why he made Bitcoin to begin with. Let's not forget that these owned-and-controlled financial markets are probably the most pernicious institutions in history. They like to win, and they do it through one principle method: deception. Knowledge is king in the markets.
So, I can accept that the world markets really were reacting to something, but was the cause of the reaction really what their corporate media friends were espousing? The alternative view (and I believe to be a great deal more plausible) is that the very real bubble required bursting, and any major political event can be conveniently used as a scapegoat. Brexit was oh so convenient an issue like that.
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