5th November 2021 > > SQUID token.

tl;dr

SQUID token is back from the dead, though it has literally no value.

Market Snap

Market Wrap

The Fed tapers a touch. The BoE leaves interest rates unchanged. The ECB is only ever going to ramp up its government bond purchases.

The consensus of the Western liberal democracy elite remains – as it has done over the last decade – that of making the rich richer, and the poor poorer.

…

I feel conflicted.

For so long now I have stuck to my (validated) view that quantitative easing (QE) would not lead to inflation in open economies. My stance on that point has not changed.

What has changed is the fact that supply chain issues have come to the fore because of the global overreaction to Covid.

The key question is whether those supply chain issues resolve themselves in short order, or not. If they do, then QE is never going to end.

Given that scenario, hard assets (stocks, property, cryptos) will merrily continue their inflationary path versus fiat.

Just buy stuff is all.

Occasional Series – Corrupt Tory politicians

One of the only things worse in politicians than the trait of hypocrisy is being corrupt.

Owen Paterson, former Conservative environment secretary, has broken anti-lobbying rules in an “egregious case of paid advocacy”, according to the Commons standards committee.

This is simply a polite way of calling Paterson corrupt.

Add to his corruption the hypocrisy of senior members of the Conservative government trying – and failing – to get him off the hook, leaves a very sour taste in the mouth.

Curious Cryptos’ Commentary – The zombie SQUID token lives on

Greed is a remarkable thing.

Buyers of SQUID have been unable to sell at any price – the code (effectively) prevents secondary holders from doing so.

The developers of SQUID have done a rug-pull, taking away millions of dollars of WBNB (wrapped BNB) and leaving huge quantities of SQUID behind on Pancake Swap to buy, if you so wish to do so.

Following the rug pull, the price crashed to zero.

…

But SQUID is back from the dead and currently bid at around 6c compared to the market top at $2,800, and the market bottom at literally zero.

Buy it at all means at 6c if you want. BUT YOU STILL CANNOT SELL IN THE SECONDARY MARKET.

Will people never learn?