This one is almost too ridiculous to believe…
Yesterday I spent all afternoon meeting with government officials here in the Philippines, and I’m still in shock. I’ll explain…
The most shocking part about that is how little anyone seems to care.
And they’re doing it on purpose. Again.
Here’s the perfect example of how insane our financial system has become.
A plague on both your houses…
72% of US businesses are NOT profitable…
It’s not about price speculation. Too many people are buying Bitcoin, Ethereum, etc. to gamble on the price.
This totally misses the point.
This is PURE Insanity…
If you’re thinking about speculating in Bitcoin right now, there’s only one question to ask yourself:
“Do I feel lucky?”
This isn’t rocket science. Most people naturally do the same thing. We’re always shopping for a great deal.
Except when it comes to investing.
Candidly I find this story to be an interesting metaphor for the United States itself.
Rise from the ashes. Remarkable growth. Peak wealth and power. Bankruptcy. Gross negligence and incompetence. More bankruptcy. Terminal decline.
Benjamin Franklin’s warning is coming true.
And the trend is accelerating…
If so, Read This:
Financial bubbles tend to pop VERY quickly.
There is no financial fantasy that can last forever, whether you’re talking about unprofitable companies or governments that lose trillions of dollars. Sooner or later you have to turn a profit. You have to generate positive cash flow. You have to balance the budget.
And as the Snapchat stock collapse shows, when the public wakes up and realizes this may not be possible, the consequences can be pretty ugly…
The current mining production ratio between silver and gold is about 9:1.
This means that 9 ounces of silver are mined for every 1 ounce of gold that’s mined.
This is very interesting from a supply/demand perspective:
“By late 2014 I’d finally had enough. After so many run-ins with the bitter incompetence and bureaucratic indignity of the banking system, I decided once and for all that I would start my own bank… I was completely unprepared for the torrential sh*t storm I was about to enter.”
Yesterday I recorded a new podcast with my US-based tax attorney to talk about the Trump administration’s new tax plan… or as I like to call it, the plan to have a plan:
This is rapidly becoming a familiar story in Silicon Valley.
The last time this happened was 17 years ago.
Anyone remember what happened 17 years ago?
Oh right. The Dot-com bubble burst…