27th October 2023 > > Miscellany.
- Mark Timmis
- Oct 27, 2023
- 2 min read
tl;dr
A tickle, a laugh, a regret, a hope.
Market Snap
Market Wrap
Scotland has cut down 16mm trees since 2000 to make way for wind farms.
China approves two new coal-powered electricity plants EVERY WEEK.
Ho hum.
As winter sets in over Europe, accompanied by the threat of an escalating war in the Middle East, energy prices may well come to the fore once more. What will fiscally incontinent over-indebted governments (that is all of them by the way) propose to do this time around?
…
Bond markets don’t know it yet, but we are mere months away from an extraordinary pivot away from QT back to QE. The process of making the rich richer, and the poor poorer, is just getting going again. MMT (Modern Monetary Theory aka Magic Money Tree) enthusiasts will of course welcome this development, but only because they are already rich, and greedy to boot.
Occasional Series – Tickle a techie time
Occasional Series – There are some very funny people on X
Curious Cryptos’ Commentary – The very first BTC commercial transaction
We all know of Bitcoin Pizza Day celebrated annually on May 22nd marking the first exchange of BTC for goods in 2010 - two pizzas (no pineapple thankfully) for 10,000 BTC.
Yep, ten thousand BTC.
But the first sale of BTC for fiat occurred before then:
5,050 BTC (now worth $170mm or thereabouts) were sold for … $5 and 2 cents.
That makes the pizza trade look like a good deal.
…
You want to know where those BTC ended up? One smart cookie set up a bunch of wallets after receiving that transaction. You can follow them all from here:
Curious Cryptos’ Commentary – Sam Bankman-Fried …
… was on the witness stand yesterday and will be again today. This is a long vid, but if you watch just a few minutes, I would be mightily surprised if you weren’t left feeling a little shocked:
We want him to never leave jail, and that will be a good outcome for all of us.
h/t The Milk Road: https://milkroad.com/subscribe/?ref=o5CmCFhBAK
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