Dec 102017
 
 December 10, 2017  Posted by at 2:33 pm Finance Tagged with: , , , , , , , , ,  5 Responses »
Bitcoin Doesn’t Exist – 5

Gustave Courbet Sunset on Lake Geneva 1876     Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 Chapter 2 is here: Bitcoin Doesn’t Exist – 2 Chapter 3 is here: Bitcoin Doesn’t Exist – 3 Chapter 4 is here: Bitcoin Doesn’t Exist – 4 Next up: all 5 chapters combined in one big essay.     Dr. D: Bitcoin can be stolen. Although “Bitcoin” can’t be hacked, it’s only software and has

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Dec 102017
 
 December 10, 2017  Posted by at 10:22 am Finance Tagged with: , , , , , , , , , ,  5 Responses »
Debt Rattle December 10 2017

Robert Frank Motorama, Los Angeles 1956   • Peak Fantasy Time (David Stockman) • Deflation Remains Biggest Threat As Lofty Stock Markets Head Into 2018 (F.) • Global Powers Lobby To Stop Special Brexit Deal For UK (G.) • The US Media Yesterday Suffered its Most Humiliating Debacle in Ages (GG) • Principles of Political Economy: The Opening Lines (Steve Keen) • Half A Salary, Half A Job, Half A Life (K.) • Erdogan, Tsipras Strike Secret Deal On Refugees

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Dec 092017
 
 December 9, 2017  Posted by at 12:44 pm Finance Tagged with: , , , , , , , , ,  5 Responses »
Bitcoin Doesn’t Exist – 4

Gustave Courbet The wave 1871     Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 . Chapter 2 is here: Bitcoin Doesn’t Exist – 2 Chapter 3 is here: Bitcoin Doesn’t Exist – 3 Chapter 5 will follow shortly. And after that, all 5 chapters combined in one big essay.     Dr. D: Well, all parts of the system rely on accurate record-keeping. Look at voting rights: we had a security

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Dec 092017
 
 December 9, 2017  Posted by at 10:33 am Finance Tagged with: , , , , , , , , , ,  3 Responses »
Debt Rattle December 9 2017

MC Escher Belvedere 1958   • The Fed’s QE-Unwind is Really Happening (WS) • 2017 US Wage Growth Failed To Pick Up Despite Unemployment Rate Decline (BBG) • The Bitcoin Whales: 1,000 People Who Own 40% of the Market (BBG) • Bitcoin Futures Could Be “A Clusterf*ck Of Monumental Proportions” (Blain) • Central Banks Or Bitcoin: What’s The Greater Bubble? (Jim Kunstler) • Chinese Banks Didn’t Object to New Asset Rules, Association Says (BBG) • Enron? Citi, BofA, HSBC, Goldman,

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Dec 072017
 
 December 7, 2017  Posted by at 12:25 pm Finance Tagged with: , , , , , , , , ,  15 Responses »
Bitcoin Doesn’t Exist – 3

Gustave Courbet The wave 1870     Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 . Chapter 2 is here: Bitcoin Doesn’t Exist – 2 Chapter 4 will follow shortly.     Dr. D: The money, the unaccountable, uninhibited release of tokens can do more than just buy centuries of hard labor in seconds, it‘s also a method of control. Banks, our present issuers of money, can approve or destroy businesses by

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Dec 072017
 
Debt Rattle December 7 2017

MC Escher Convex and concave 1955   Note: no Debt Rattle tomorrow due to travel   • The Great Credit Party Is Almost Over, Societe Generale Says (BBG) • Mother of All Bubbles Too Big to Pop – Peter Schiff (USAW) • One Day Soon, The Sun Will Not Rise (Econimica) • China’s Financial System Has Three Important ‘Tensions’ – IMF (CNBC) • Bitcoin Mining Service NiceHash Says Hackers Emptied Its Wallet (BBG) • Trump: Government Shutdown ‘Could Happen’ Saturday

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Dec 062017
 
 December 6, 2017  Posted by at 12:24 pm Finance Tagged with: , , , , , , , , ,  11 Responses »
Bitcoin Doesn’t Exist – 2

Gustave Courbet The wave 1870     Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 Chapter 3 will follow shortly.     Dr. D: You have to understand what exchanges are and are not. An exchange is a central point where owners post collateral and thereby join and trade on the exchange. The exchange backs the trades with their solvency and reputation, but it’s not a barter system, and it’s not free:

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Dec 052017
 
 December 5, 2017  Posted by at 12:14 pm Finance Tagged with: , , , , , , , , , ,  7 Responses »
Bitcoin Doesn't Exist - 1

Gustave Courbet The wave 1869     A while ago, I asked a regular commenter at the Automatic Earth, who goes by the moniker Dr. D, to try and write an article for us. Not long after, I received no less than 31 pages, and an even 12345 words. Way too long for today’s digital attention spans. We decided to split it into 5 chapters. After we work through those 5, we’ll post it as one piece as well. Dr.

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Dec 052017
 
 December 5, 2017  Posted by at 10:01 am Finance Tagged with: , , , , , , , , , ,  4 Responses »
Debt Rattle December 5 2017

The Kennedies   • China’s Property Binge Fuels Mortgage Fraud Frenzy (R.) • This Time IS Different, It Just Ends The Same (Roberts) • What Sowed The Seeds Of The Bitcoin Mania? (TM) • Bitcoin Is A ‘Dangerous Speculative Bubble’ – Stephen Roach (CNBC) • The Two-Tiered European Community (Bilbo) • This Could Mean The End Of May – And The Beginning Of Corbyn (Ind.) • Theresa May Humiliated As DUP Scuppers Border Deal (Ind.) • Confused May In Alignment

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