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Thread: Bitcoin hammered, stocks clobbered

  1. #1

    Bitcoin hammered, stocks clobbered

    Bitcoin's down 14% on the day, now trading at $7,000. Dow Jones stocks index lost 1,170 points, that was a 4.6% drop following on from last Friday's 2.5% loss.

    Has the 2018 global economic apocalypse begun in earnest?


  2. #2

    Re: Bitcoin hammered, stocks clobbered

    Wow, it started just after they released the memo.

    #UnreleaseTheMemo

  3. #3

    Re: Bitcoin hammered, stocks clobbered

    World economies have been propped up since 2008 via massive money creation by central banks and cheap credit with negative real interest rates, and - so the narrative goes - because the US Fed is indicating faster interest rate rises so as to normalise them to match the inflation rate then the 'everything bubble' in stocks, property, cryptos, fine art, etc, are going to pop as the cost of taking on debt (leverage) in future will be more expensive. Virtually none of the trillions pumped into the system with QE and the like has found its way to ground level hence inflation has been quite moderate; the dough's gone into rocketing asset classes instead.

  4. #4

    Re: Bitcoin hammered, stocks clobbered

    Quote Originally Posted by ninianclark View Post
    Organ - if you had a grand in crypto, a grand in shares, a grand in Govt bonds and a grand in a savings - what would you sell and what would you buy more of ?
    You missed out a grand in canned food.

  5. #5

    Re: Bitcoin hammered, stocks clobbered

    I got bit coined once, bloody hurt my head .

  6. #6

    Re: Bitcoin hammered, stocks clobbered

    Quote Originally Posted by ninianclark View Post
    Organ - if you had a grand in crypto, a grand in shares, a grand in Govt bonds and a grand in a savings - what would you sell and what would you buy more of ?
    Of those assets mentioned I'd dump government bonds first as they're at the apex of the debt bubble and buy more gold with the proceeds. I look upon it as a financial insurance policy. It's widely accepted that around 180,000 tons have been mined throughout human history which equates to less than one ounce each for every person alive today.

  7. #7

    Re: Bitcoin hammered, stocks clobbered

    Quote Originally Posted by lardy View Post
    You missed out a grand in canned food.
    Freeze dried stuff is a much better option.

  8. #8

    Re: Bitcoin hammered, stocks clobbered

    Dow Jones index lost 1,000+ points again today. It's now down 10% from the recent top which makes it a correction. If it loses another 10% it will officially become a bear market.

    30 years ago came a prediction for 2018 which featured on the front cover of The Economist magazine. With the world mired in unrepayable debt, are all currencies about to become ashes?


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