So, as I wrote in one of my earlier posts, I was shocked to see that ZeroHedge is being read frequently by many Maltese (even one of my readers pointed this out). I find this very shocking because this grifter, scammer, and criminal spreads and writes a lot of bullshit most of it with an anti-Western and pro-Russian bias. ZeroHedge is Daniel Ivandjiiski, a pro-Russian Bulgarian who lives in the US. He became a pro-Russian propagandist after his broker license was taken away from him as he was found guilty of insider trading.
ZeroHedge is not a successful trader or investor and his business is mostly doom porn – writing doomy things about the West while praising the (supposedly) rising and emerging power of the anti-West coalition due to their advantage in having commodities. ZeroHedge will praise BRICS, gold, bitcoin, and even shitcoins that may well be undisclosed promotions as part of what seems to be “objective reporting”. ZeroHedge also promoted the grift of the SilverGate short-squeeze with many of his followers losing money as a result.
If you read ZeroHedge please take a moment to read these very basic concepts.
The US Dollar will not collapse
One of the main themes of pro-Russian propagandists this year was that the US Dollar was going to collapse and a BRICS alternative currency would emerge. This is total fantasy. Please read this article.
Stocks always go up
The stock market may go down, 5%, 10% down, maybe more, or whatever, but on a long-term basis it will go up again and stocks always go up. No, don’t wait for a stock market crash, don’t wait for the financial system to collapse and capitalism will not be over. Sorry guys. Please read this article.
BRICS is not winning
BRICS is not winning and China is in decline. The West will not collapse. Sorry to break it to you. Please read this article.
Gold is nice but it is not a good hedge against inflation if you are in the Eurozone or in the US
Gold is nice (I own it) but it is not a hedge against inflation and we have just been through an inflationary event that proved this. The best inflation hedge was the US Dollar. Investment returns in the stock market outpace that of gold easily. You buy gold as personal insurance or opportunistic trading, but not to protect yourself from inflation. If anything, the stock market is the best hedge for inflation with the same logic. Gold has great utility if you don’t live in the West and need access to US Dollars. Recently, the Chinese have been buying a lot of gold to get rid of their Yuan and have exposure to the US Dollar. Gold is not a good investment when comparing historical returns with the stock market.
Bitcoin does not challenge US Dollar hegemony – it increases it
Bitcoin is a conduit for the US Dollar. If you don’t understand this, you haven’t understood bitcoin, yet. Bitcoin and also crypto increases global access to the US Dollar. Your main currency exposure when buying bitcoin is US Dollars as is with most commodities.
The US authorities are afraid of a bitcoin ETF – that’s why they don’t want it
Bitcoin is still a heavily manipulated market by Tether and Binance and genuine and organic price discovery is yet to come in the bitcoin market, and this is the main reason why the SEC will keep rejecting a bitcoin ETF. A bitcoin ETF will only be approved once Tether and Binance are addressed by the authorities and their market activities are regulated or shut down completely with the upcoming DOJ indictments. As long as Tether can print $1 billion in Tether at will at market bottoms to buy bitcoin and raise prices, the US regulatory authorities won’t accept a bitcoin ETF.
In addition, a bitcoin ETF event may not be a special event. A bitcoin ETF will serve institutional investors who already have exposure to bitcoin by mainly buying MicroStrategy stock. A bitcoin ETF would potentially cause institutional investors to move away from MicroStrategy to the bitcoin ETF causing a selling event if Michael Saylor is forced to liquidate.
Institutional interest for the BlackRock bitcoin ETF was reported to be below $10 million in initial buying interest.