18th June 2024 > > Miscellany.

tl;dr

A well-deserved dig, a bit of silliness, and overwhelming evidence that QE will return, and soon, which will bolster the price of all hard assets.

Market Snap

Market Wrap

Alts are taking a battering as the BTC price response to yet more BTC ETF outflows has been to breach $65k to the downside early this morning, and we almost had a 63-handle. Perpetual futures have moved slightly negative with all the longs that got liquidated but that doesn’t mean that the leveraged children have now turned bearish. Personally, I think three and a half months (with one small aberration) above $60k is a strong signal, but memories are short in the crypto investment world.

Occasional Series – TERF C…

TERF C… is a new play scheduled for the Edinburgh Festival that is expected to be highly critical of J. K. Rowling’s views on the intersectionality of biological sex, which is overwhelmingly determined by chromosomes, and gender, which is defined by belief, or perhaps a lack of belief.

Barry Church-Woods, creative producer of the show, has been complaining to the media:

"I’ve been generally surprised by how difficult it has been for us to recruit the female cast in particular”.

If he/she/they is/are recruiting only those with a cervix to act the female roles in the play, isn’t that, you know, possibly, perhaps, a touch transphobic? Truly, the revolution will always eat its own children.

Curious Cryptos’ Commentary – NO RAGRETS

Apparently, this is true.

Curious Cryptos’ Commentary – US debt

Another reason why QE is heading back our way:

According to Ecoinometrics (please excuse the clumsiness of this statement – I didn’t write it):

“When you pay a trillion dollar as the interest on the debt we are talking about an expense that’s as large as national defense or social security or medicare.”

Hands up for the Magic Money Tree (aka Modern Monetary Theory), anyone?