The market needs a monetary system whose cost of capital is determined by that market at any given point in time and not a small group of men in boardrooms at the member Federal Reserve banks.
The world is witnessing another Lehman moment, but this time it is emanating from China and not New York City.
Think about how far away the Fed has gotten from its original mandate. The Fed was originally forced upon us under the guise that it would only intervene to lend to the banking system when the economy needed to be stoked.
If you're interested in learning more about mining, mining pools, and how they operate at a technical level, I would not miss this AMA.
The Fed feels compelled to intervene within hours to a market hiccup and continue that accommodation into a second day. Essentially conducting QE without officially conducting QE.
The price of Bitcoin reacted very positively as the Chinese Yuan depreciated sharply against the Dollar yesterday afternoon.
Stay vigilant out there. Uncle Marty thinks things are only just starting to heat up on the global stage.
Is DB too big to fail? Everyone I speak with seems to believe so. Uncle Marty thinks we're about to find out. And if they are TBTF, we're about to see QEinfinity go into full effect. The merry-go-round goes round and round.
