top of page
Search

18th September 2021 > > Canada.

tl;dr

Cryptos are playing their part in the Canadian general election.


Market Snap







Market Wrap

No signs of any leverage stress across any funding rates for any coins on any exchange. Barring an equity disaster, or UST sell-off another breach of $50k must surely be on the cards in the next couple of days.


Occasional Series – Quote of the day

Courtesy of Mark Heffman:


“European junk bonds now carry negative real yields, which means there’s a lot of people paying a premium to lose money on businesses with no profits.


And you are worried about cryptos?”


Curious Cryptos’ Commentary – Politicians

We have already seen the impact of cryptos on the elections for the mayor of New York City (see CCC 3rd September 2021, back copies available on request).


Now Canada is getting in on the act. Justin Trudeau, who rather surprisingly isn’t the most woke of all Canadians (see CCC 10th September 2021, blah blah blah) called an unnecessary election (he should have talked to Theresa May first) and there is a not immaterial possibility he will lose according to the betting odds. Those odds show a 62% chance of success for Trudeau, a better guide than any pollster can give you.


One of the smaller contenders, The People’s Party, is led by Maxime Bernier.


Now, several of their leading policies – a focus on reducing immigration, and withdrawing from the Paris accord, amongst others – will be rightfully distasteful to many people. I am certainly not advocating support for his party.


But what I do notice is that Bernier is using cryptos in his bid to garner electoral attention and votes:


“I hate how central banks are destroying our money and economy. I’m more of an old-fashioned gold & silver fan, but cryptos are another new and innovative way to counter this that should be encouraged.”


Regardless of our mutual disdain for many of the policies of The People’s Party, his focus on the destruction being wrought by central banks – making the rich richer, and the poor poorer, otherwise known as quantitative easing – is an argument that is worth paying attention to.


There is a trend amongst politicians to increasingly vocalise support for cryptos. Their voters will expect them to follow through on this support.


The political, legal, and regulatory landscape for cryptos improves by the day.

4 views0 comments

Recent Posts

See All

23rd July 2024 > > Nashville.

tl;dr It’s all happening in Nashville this weekend. Market Snap Market Wrap Despite twelve consecutive days of inflows to the spot BTC ETFs, and some like yesterday at over half a billion dollars were

Comments


bottom of page