Holders of Bitcoin, I think it deserves mention that today...
*US equities lost about 5%(1),
*nearly every world currency traded negative(2),
*bitcoin traded up. (3)
Congratulations on owning the only currency in existence which cannot be destroyed by central banks. MEANWHILE, IN THE WORLD OF CENTRAL BANKING...
Global stock markets plunged on Thursday as central bank
interventions in Europe and Japan failed to soothe investors’ concerns over economic
growth and the eurozone debt crisis. The European Central Bank bought
government bonds for the first time since March
, just hours after the
Bank of Japan intervened in currency markets
to halt the rise of the yen and the
Turkish central bank cut rates to an all-time low.
“We are seeing a widespread crisis of confidence. Central banks have lost their
,” said Ed Yardeni, founder of Yardeni Research and a former US Federal
Reserve staff member.
The day as it progressed Tokyo Bank of Japan intervenes to force down yen
sending it sharply lower against the dollar and the euro.Ankara Turkish central bank cuts policy rate to all-time low
despite strong economic growth and above-target inflation.
[Brussels European Commission president calls for “rapid reassessment” of
€440bn rescue fund
], suggesting it should be raised.Frankfurt European Central Bank president confirms it is buying sovereign
and providing liquidity to the region’s banks.
London FTSE 100 closes down 3.4%. The index has fallen more than 10% since May.“They are destroying the euro sovereign bond market, except for the Bund
[German debt],” complained an official in Rome.