With the Dow and Nasdaq at all-time highs, here is a look at bitcoin, gold, silver and economic depression.
Bitcoin, Gold & Silver
November 28 (King World News) – The following quote is from Peter Boockvar:
“I’m not going to talk more about bitcoin because I have no opinion on it and I’m instead just a spectator in awe of its price. I do have to say though that it’s a great advertisement for owning gold and silver. If you feel like you missed the bitcoin trade, a 5000 year alternative currency is there for the easy pickings.”
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Also, this note from Jeff Saut & GaveKal…
Here is a portion of today’s note from Jeff Saut at Raymond James: Now we have never really believed in deflation, let alone a “deflationary boom,” but the astute GaveKal organization has written about it for quite some time. According to GaveKal:
The central banks adopt a policy of abnormally low interest rates, which leads to a massive misallocation of capital causing a structural decline in an economy’s growth rate. At some point the rate of return on capital falls below the cost of capital and the “leverage” in the economic system can no longer be serviced. That, in turn, leads to a deflationary bust where the prices of “risk” assets fall moving the economy into a depression.
And finally, Art Cashin shares the following…
Here is a portion of today’s note from legend Art Cashin: A New Must Read – Over the last few months, I have found myself drawn to a new daily market commentary from Nick Colas and his partner Jessica Rabe. For years, Nick has impressed me as one of the most outside the box thinkers on Wall Street.
In today’ edition, Nick and Jessica cover drone technology; the evolving global roll of Bitcoin and credit card delinquencies. How’s that for a broad range for a daily commentary.
In the drone discussion, they talk about how far automation has moved into the aviation cockpit.
Use cases: there are numerous near term commercial applications for drones, from package delivery to surveillance and defense. But once you have sensors and software that can fly a drone, they could also pilot a commercial airliner, warplane, or cargo plane.
Here’s the funny thing: technology has infiltrated the cockpit much more completely than most people realize. Did you know that F-18s have been able to land themselves on the deck of a carrier since 1994? No, we didn’t either. Or that Captain Sully’s “Miracle on the Hudson” would have been much more difficult without built-in anti-stall software?
Bottom line: aviation hasn’t really been “disrupted” by technology just yet but all the building blocks are there. The analog to AI and other up and coming innovations: sometimes technology creeps into the picture slowly rather than showing up fully formed.
The commentary is “Datatrek”. Check it out.
Overnight And Overseas – In Asia, markets are mixed to a bit indifferent. Tokyo and Hong Kong closed with fractional losses. Shanghai was up modestly, while India was down in similar fashion.
Europe, on the other hand, has moderate rallies from London to the continent.
Among other assets, gold is fractionally lower and WTI has fallen back below $58. The euro is little changed against the dollar and yields are a tick, or two, higher.
Consensus – Lots of focus on the Powell Hearings as traders sniff about for hints of policy shifts. Attention will also be paid for any hints on the tax bill.
Stick with the drill – stay wary, alert and very, very nimble.
***KWN has now released the powerful audio interview with London whistleblower and metals trader Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Will Millennials Embrace Gold? Plus Surprising Insider Trades At Gold Mining Companies CLICK HERE.
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