An Impending Government Shutdown and Apple Bringing Home Some Cash
Chris Temple joins me today to address the impending government shutdown and how some of the markets we watch closely are reacting. The US markets don’t really seem to care but the story yesterday out of Apple bringing back some cash could be helping as well. The other market that is noteworthy is the 10 year which could close the week at the highest level since 2014.
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I’m watching volume on TBT.
I’d have to say that past shutdowns have always been political! The problem I have is why Congress can’t come up with a piece of legislation they believe in and send it to the president. Since when did congressional leaders run to the white house to get they’re buy-in before acting? Sick leadership imo.
What President Trump has repeatedly said (other than in sound bites) is that he will permit immigrants to stay IF they can prove they were brought in a children.
That amounts to about 800,000.
The democrats want to legalize ALL illegals; over 3,400,000. (estimated by Democrats, which I believe is an under-count.)
And that includes a lot of visa overstays, but not so much those who walked over the border, which are heavily under-counted.
Silverdollar…..It’s called backscratching…..Dont you know that’s how you get deals done.
A history lesson on currency:
No, Stefan, the USD did not appear in 1914, the Federal Reserve Note did. The USD = 371.25 grains of fine silver. The FRN is an impostor – a fraud.
That’s where the term may have originated – Federal Reserve Accounting Unit Device
Nice one…Temple
“The dollar is our currency, but it’s your problem” — Senator John Connally at the G-10 Rome meetings, 1971
Imagine having a bunch of tickets from the dry cleaners but no clothes. To save dollars (or any of its derivatives: yen, euro, etc.) instead of money is no different.
Or when you turn your ticket in they give you your suit back missing the pants.
It’s more accurate to assume you might get one sock. If just the pants are missing, that implies 50% backing!
In that case one thread…I just thought the pants analogy might explain why the politicians can’t seem to keep them on. 🙂
No one wants to wear a toxic green rectangle of linen! 😉
Well, if our rulers kill us off with their worthless fiats maybe they can extend the ponzi scheme of Socialist Insecurity for a few more years.
I will be watching the Dollar:Sock ratio more closely moving forward, and I’ll be extra wary of my dry cleaners moving forward.
The chart of the day has to go to the Dow. It has formed a perfect hockey stick and has a weekly RSI(14) reading of over 90. It is very likely to turn down very soon and that will be very good for our miners.
http://stockcharts.com/h-sc/ui?s=%24INDU&p=W&yr=9&mn=0&dy=0&id=p02584398747&a=421704680
The stockmarket is in a blow-off topping mode, in my opinion, despite what everyone is saying.
I still say if something can’t happen. it won’t happen.
I used to think that the US, with its debt, could not handle higher interest rates, but I wonder if the Fed cares anymore about trying to balance the books.
It will be interesting to see how they balance interest rates versus dollar value, versus debt.
Apple will have more money available to buy back stock to help hold up the share price. How many more tweeks can you really do to boost the stock price?
The Best in Crypto – (1/19/18)
By Goldfinger on Thursday, January 18, 2018
To the moon with Crypto Wars — Issue No. 10
Your dose of crypto news and analysis from @BTO and @Goldfinger
https://ceo.ca/@bto/to-the-moon-with-crypto-wars-issue-no-10
France Comes Out Against Bitcoin and Digital Currencies, Wants Tough New Laws
January 15, 2018
http://www.trustnodes.com/2018/01/15/france-comes-bitcoin-digital-currencies-wants-tough-new-laws
German Central Banker: Cryptocurrencies Must Be Regulated On a Global Scale
Nikhilesh De – Jan 15, 2018
https://www.coindesk.com/german-central-banker-cryptocurrencies-must-be-regulated-on-a-global-scale/
Good luck at regulating cryptos…..I think it can only be done via the U.N., and it is not set up to deal with such things.
There will ALWAYS be some tax haven wanting to attract crypto-generating organizations and the money associated. As long as exchanges exist in any country, there will be cryptos.
Yeah, I’m not sure HOW they are going to be able to regulate cryptos.
The most likely targets would be the exchanges where customers buy and sell cryptos. It wouldn’t stop peer to peer transactions, but it may keep new investors from buying them. They may place more stringent rules on the the exchanges though.
That still wouldn’t be a regulation on the cryptos themselves though. I’m not sure anyone can put this genie back in the bottle now…
Stan Higgins
Jan 18, 2018 at 20:45 UTC
NEWS
The U.S. city of Virginia Beach has granted $500,000 to help establish a new bitcoin mine in the area.
On Tuesday, the Virginia Beach Development Authority revealed that it was giving the funds to Bcause LLC in an effort to help generate as many as jobs within Virginia Beach. The mine – which is currently under construction but could open as soon as later this month, according to The Virginian-Pilot – is being funded to the tune of nearly $65 million.
The grant is a notable one, demonstrating a kind of convergence between public-sector efforts to boost job growth and the cryptocurrency space. In addition to the funds, Bcause will be eligible to seek reduced taxes on computers and other expenses related to the data center being built.
“Virginia Beach is again on the forefront of innovative technology, and we are extremely pleased that Bcause LLC will remain here,” Virginia Beach Economic Development director Warren Harris said in a statement. “The cryptocurrency market is rapidly expanding, and we anticipate Bcause LLC will be at the forefront of this emerging financial system.”
Last June, Montana’s state government provided a $416,000 grant to a bitcoin mining operation there. As is the case in Virginia Beach, officials in Montana provided the funds in an effort to spur job creation through the development of new data center resources.
YOUR TAX DOLLARS AT WORK!!!!
Don’t these stupid, out-of-control governments realize that mining cryptos is an almost human workforce free situation, FAR from a work-generation situation, supposedly used to justify expenditures.
Talk about possible corruption…..wonder which councilman’s son came up with the idea.
Miners requesting to use Quebec’s energy grid for Bitcoin Mining
January 11, 2018
“ust when we thought we had enough of energy consumption in the world, a publicly traded bitcoin miner Jackpot Digital (JPOTF:OTC, JP:TSX), in conjunction with Electrium Mining based out of Hungary (being acquired), is knocking on the doors of Quebec’s province – to mine bitcoin. Sources tell us that Jackpot Digital and Electrium have production capabilities that are progressively set to increase to as much as 50,000 rigs or beyond by 2020. It seems that the blockchain revolution has reached Quebec.”
“In fact Jackpot Digital isn’t the only company knocking. According to coin desk, Quebec is luring cryptocurrency miners as China moves to ban miners from their turf. But what happens when this significant amount of miners move into the region? There are over 30 miners as reported recently.”
“It also seems that companies like Jackpot Digital / Electrium Mining are going to expand their operations such as banking operations includingATMs and mortgage lending, investment banking, and expand into other blockchain technologies – as can be seen from this chart taken from Electrium website. This bodes well for the entire province of Quebec and Canada’s economy, so perhaps the energy consumption could be justified:”
I’ve recently diversified into (JP) Jackpot Digital to have another crypto miner in the mix besides (HIVE). Also, I’m trying to boost the energy sector as all that mining takes a lot of energy. 🙂
Another company I’ve planted a starter position with recently is Rockshield Capital thanks to the head up from Wolfster. Much of their focus is based around their strategic investments in Cannabis companies, but they also have a slew of blockchain companies that they’ve invested in as well. I see it as like an ETF of Pot & Cryptos.
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Rockshield names blockchain company investments
2018-01-11
“Over the past six months, Rockshield has been diligently reviewing countless opportunities in the blockchain and cryptocurrency industry and, to date, has invested in a number of blockchain companies that it thinks are best positioned to capitalize on this emerging global industry. Leveraging the company’s professional network, the company has gained access to a number of investments at early-stage private rounds that are attractively priced and should position Rockshield to capture significant value appreciation as these companies expand operations and go public.”
– Neptune Dash Nodes Corp.
– Hyperblock Technologies Corp.
– Atlas Cloud Enterprises
– DMG Blockchain Solutions
– VS Blockchain Assembly Inc.
– Big Wind Capital Inc.
* Dave Doherty, president and chief executive officer, said:
“We are extremely pleased with the portfolio of blockchain companies we have invested in, as we think we have backed some of the best management teams in the business, with professional and scalable operations, that are well positioned to prosper within the blockchain industry. We view blockchain as a highly disruptive growth industry with tremendous potential and will continue to evaluate opportunities within the sector. In addition to continuing to screen for attractive investment opportunities, the company is reviewing opportunities to unlock the value of our private holdings potentially by way of a spinout into separate public market vehicles in order to generate maximum shareholder returns.”
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aRKS-2555518&symbol=RKS®ion=C
$RKS Rockshield investee TGOD sells 17.62% stake to $ACB Aurora
2018-01-16
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aRKS-2557604&symbol=RKS®ion=C
$RKS Rockshield’s investee $CALI Fincanna now listed on CSE
2017-12-29
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aRKS-2551439&symbol=RKS®ion=C
https://www.youtube.com/watch?v=LX1iOOqHF8g
Mannarino warns on bonds