Has their ever been an asset class that had as many cheerleaders as crypto does?
OT: name the chart
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Has their ever been an asset class that had as many cheerleaders as crypto does?
Oh dear God crypto is back? Those threads are about as annoying as the COVID shlt.
Well, I don't know if it would meet the definition of a Component Unit or "Government Entity", but its a banking entity that is administered by the U.S Government and for which the U.S Government has a lien on net earnings. Each member of the Board of Governors are all appointed by the President and confirmed by the US Senate, and the net income of the Federal Reserve system by law goes to the US Treasury.
I’m just curious who owns the Fed and where they got the money we keep borrowing.
Most of it comes from reserves that the commercial banking system has to keep on deposit with the Fed and also by simply printing it. The US Treasury issues debt and the US Government guarantees other types of debt. The Fed buys that debt with the money they print to fund the Government and get dollars into the system.
As long as we are a monetarily sovereign country which spends, taxes, and borrows in a fiat currency that we fully control. We are not operationally constrained by revenues when it comes to federal government spending.
Put simply,the US does not rely on taxes or borrowing for spending since we can print as much money as we need and are the monopoly issuers of the currency. Since the US budget isn’t like a regular household’s, the policies should not be shaped by fears of a rising national debt.
Touché.
OP doesn't bother to dig into that post at all. That was from a February 2022 paper written by 3 analysts at Blackrock. Nothing in it suggests anything about recs to clients. Its a nerd paper about the Cumulative Prospect Theory. The cherry picked section by the doüchenozzle twitter warrior was a complete mislead. I just read the paper. What they say is the outsized historic returns of bitcoin in its early stages has lead to a skewness that 17's up the Cumulative Prospect Theory model. They are not making any recommendations, they are just showing how the model works and is 17ed up by BTC.
Here's the reality... Since that paper was written, BTC is down 40%. If BR was telling people to buy at 85% it would be up 4000000%... And I can play that same game by highlighting areas in the actual conclusion of the paper, that suggest the optimal asset allocation would be 3%.
Social Media is full of díckheads. Don't be lazy. Do your own research. And use your brains... If Blackrock was steering its clients to an 85% stake in BTC the whole world would be talking about it and the price of BTC would skyrocket to over $100MM. Blackrock has $9 trillion in AUM, they aren't sneaking up on BTC at this point.
So for clarity, @pseudonym Blackrock isn't telling their clients that shít. Some tool on twitter is telling people that Blackrock is telling clients that. He's likely in the red on BTC and needs a pump. Dig a little deeper next time.
It's a twitter meme, my friend. But glad you read the paper!
But for fun, let's document the price of bitcoin at the time of your post and check back in two years!
It’s all make believe made up money.
As long as everyone agrees that the dollar holds value, then everything will be hunky dory. Eventually, I don’t think that will be the case.
If you think about it, an accepted and agreed upon form of currency is the only thing holding civilization together as we know it.
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