Meraglim Blog
More Evidence That a New Bull Market in Gold Has Begun
While all the media hype lately has been about bitcoin, a sleeping giant in the monetary space has awakened. The sleeping giant is gold. The dollar price of gold per ounce was up 8.6% in 2016, 13.1% in 2017 and 2.7% so far in 2018. Overall, gold has rallied 27.3% from its low of $1,051
Ya Can’t Make It Up! Major Bitcoin Conference Refuses to Accept Bitcoin
Sometimes an article is so funny there’s not a lot to say about it; the headline speaks for itself. I’ve warned readers for over a year that the bitcoin craze is unsustainable for a number of technical reasons. The limit on total bitcoin issuance makes it unsuitable for money; a useful form of money needs
Even the Criminals Are Ditching Bitcoin. Soon the Pyramid Will Collapse
My views on bitcoin are fairly well-known by now. It’s a fraud because proponents misrepresent the benefits by blurring the difference between the coin itself and the technology on which a blockchain is based. It’s a Ponzi because at least some of the unregulated exchanges that transact in bitcoin are pocketing investor dollars and crediting
Top Fed Official Says Enjoy the Sugar High; Tax Law Stimulus Won’t Last
Bill Dudley may be on his way out as president of the Federal Reserve Bank of New York, but he has a few parting shots before he goes. As this article reports, Dudley gave a speech last week in which he said that tax cuts in the new Trump tax law might give a short-term boost to
China Fires the First Shot in a New Financial War That Will Get Much Worse
This article is about a shot heard round the world. On Wednesday, Jan. 10, 2018, Bloomberg reported that government officials in Beijing were reviewing the composition of Chinese reserves and considering reducing their allocation to U.S. Treasury securities. The news sent Treasury note prices plunging, and the yield to maturity of the 10-year Treasury note shot