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TigerTatorTots
LSU Fan
The Safeshore
Member since Jul 2009
79870 posts

Trust in Central Banks is Eroding Fast

From "inflation is just transitory" to UK's BOE doing an emergency 180 in their tightening policy to start QE up again to save the bond market from collapse, everyone is seeing the incompetency of Central Banks around the world. The once safe haven/risk free investment in bonds is at all time negative performance and showing some semblance of risk. Backed by the good faith and credit you say? What if that eventually just becomes "backed by good faith"?

Just throwing out that the biggest and most trustless financial mechanism in the world right now is down about 70% from prior highs. It may make sense to allocate some funds towards Bitcoin at these levels. Current price is ~$19k.



boogiewoogie1978
Arkansas Fan
Little Rock
Member since Aug 2012
14124 posts

quote:

t may make sense to allocate some funds towards Bitcoin at these levels. Current price is ~$19k.



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155
Aubie Spr96
Utah Fan
lolwut?
Member since Dec 2009
37824 posts

I can't believe the market's reaction to such a clearly bad sign from the British Central Bank. Guess what? The clowns that created this problem have no idea how to fix it.


I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
37012 posts

Bought another full bitcoin this morning. My next buy level is $15,000 for a full coin.

If it hits $10,000 I will allocate 50% of my dry power to buying.

Bitcoin is the answer, we just haven't had anyone start asking questions yet.


MrSpock
US Space Force Fan
Member since Sep 2015
3852 posts

quote:

Just throwing out that the biggest and most trustless financial mechanism in the world right now is down about 70% from prior highs. It may make sense to allocate some funds towards Bitcoin at these levels. Current price is ~$19k.


Good buy.


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46
MrSpock
US Space Force Fan
Member since Sep 2015
3852 posts

quote:

If it hits $10,000 I will allocate 50% of my dry power to buying.



I'd move that target to 12k. Below there and shite is hitting the proverbial fan.

I think we fill this inefficiency from 17-12.

This post was edited on 9/28 at 2:59 pm


I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
37012 posts

Will be tempting. To the best of my knowledge, I can't find a better asymentrical bet than Bitcoin at these levels.

When the world does recover we will have another halfening as well.

Next 5 years will be a GOD LIKE bull run for Bitcoin



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48
TigerDeBaiter
LSU Fan
Member since Dec 2010
10000 posts



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171
DVinBR
US Space Force Fan
Member since Jan 2013
10569 posts

nice pump

now tell me how much your bitcoin is worth in fiat again?
This post was edited on 9/28 at 3:37 pm


TigerTatorTots
LSU Fan
The Safeshore
Member since Jul 2009
79870 posts

quote:

now tell me how much your bitcoin is worth in fiat again?

1 BTC = $19,538 as I type this


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MrLSU
Harvard Fan
Paris, Lake Como, Monaco, Marrero
Member since Jan 2004
22527 posts
 Online 

Financial Times' Robert Smith"Jaw-dropping quotes on just how close we came to catastrophe today.

Senior banker describing the leveraged unwind in Gilts as coming close to triggering a "Lehman moment". Asset manager accusing the Bank of England of ignoring calls to intervene sooner"



21JumpStreet
US Space Force Fan
Member since Jul 2012
13700 posts

Buy bitcoin and sell every 4 years. Rinse and repeat.


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41
Douglas Quaid
TBD Fan
Mars
Member since Mar 2010
3985 posts

We are getting to the stage where the people will see just how far gov'ts are willing to go to kill crypto.

I always figured a day would come where people would have to literally fight gov't to use crypto. Feels like that day is getting close.


themasterpater
LSU Fan
I travel
Member since Sep 2014
1280 posts

Pretty sure anarchy isn't the answer


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00
Dandaman
Army Fan
Louisiana
Member since May 2017
595 posts

quote:

Bought another full bitcoin


I’ll sell you a Dancoin for 5k.


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71
TigerTatorTots
LSU Fan
The Safeshore
Member since Jul 2009
79870 posts

quote:

Feels like that day is getting close.
Odd, I don't get that feeling at all. Quite the opposite actually.


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22
wutangfinancial
LSU Fan
Treasure Valley
Member since Sep 2015
9691 posts

quote:

The clowns that created this problem have no idea how to fix it.


It's actually way worse than that. They don't know what the problem actually is but they are damn certain in how to respond to something they don't understand


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81
Aubie Spr96
Utah Fan
lolwut?
Member since Dec 2009
37824 posts

How can any rational person read that and feel good about where this is heading? frick.


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30
biscuitsngravy
LSU Fan
Tejas, north America
Member since Jan 2011
2698 posts

At some point central banks will have to stop riding to the rescue. The reason for their intervention yesterday was a combination of an idiot policy announcement to cut taxes (and not decrease spending), borrow for both this and to pay for the energy cap the govt announced. And, to bail out pension funds who made bad bets on interest rate derivative hedges that collapsed because of an incompetent finance minister. Why these things are not outlawed is beyond me.

As Warren Buffet said derivatives are weapons of mass financial destruction.

UK central bank was faced with a choice of buy bonds to stabilize the market or allow large UK pension funds to become insolvent.

Incompetence everywhere.


RoyalWe
LSU Fan
Prairieville, LA
Member since Mar 2018
2396 posts

Keynesians can kiss my ass. Thanks for perpetuating the lies supporting government spending. While I'm at it, I would like to give a big F-U to Nixon for turning our currency into fiat. These dickheads don't know how to responsibly run the processes they've put in place. Guess who pays for their ignorance?


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