GREY:NEVDQ - Post by User
Comment by
bogfiton Dec 04, 2021 10:12am
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Post# 34198233
RE:RE:RE:RE:RE:RE:This board is becoming a high school slam book, instead
RE:RE:RE:RE:RE:RE:This board is becoming a high school slam book, instead "WTF?? Dude has lost his last marble"
What an insightful rejoinder! Don’t strain yourself now. LOL How can I have an intelligent discussion with one who is only semi-literate? Return’s posts are the written equivalent of grunts and squeals - the form of communication he is most familiar.
Actually, much is happening this weekend that may have a major impact next week. Bitcoin lost 17% in 24 hours! Hitting low at midnight and flat since – will the panic continue? Was it only a coincidence that speculators left copper about the same time as increase in BTC? What is important now is where are those billion dollars going to land? I can think of very few assets that look promising over the next couple quarters.
“Bitcoin shed a fifth of its value on Saturday as a combination of profit-taking and macro-economic concerns triggered nearly a billion dollars worth of selling across cryptocurrencies. Bitcoin was 12% down at 0920 GMT at $47,495. It fell as low as $41,967.5 during the session, taking total losses for the day to 22%.”
https://finance.yahoo.com/news/bitcoin-extends-downtrend-falls-12-055642132.html
Rumbling deep in the Earth often precedes a volcanic eruption. Forces in debt stress lines are growing stronger with Evergrande’s latest admission that it is broke.
“BEIJING (AP) — A Chinese developer that is struggling under $310 billion in debt warned Friday it may run out of money to “perform its financial obligations” — sending regulators scrambling to reassure investors that China’s financial markets can be protected from a potential impact.
Evergrande Group’s struggle to comply with official pressure to reduce debt has fueled anxiety that a possible default might trigger a financial crisis. Economists say global markets are unlikely to be affected but banks and bondholders might suffer because Beijing wants to avoid a bailout.”
https://apnews.com/article/business-china-beijing-financial-markets-financial-crisis-affc0eca7f6ac46303a9c8fd6a78af24
I never panic until someone tells me not too.
b.