Lord Rothschild: “Share Prices Are At Unprecedented Levels, This Is Not A Time To Add Risk”

Lord Rothschild: “Share Prices Are At Unprecedented Levels, This Is Not A Time To Add Risk”:

We do not believe this is an appropriate time to add to risk. Share prices have in many cases risen to unprecedented levels at a time when economic growth is by no means assured. Geopolitical problems remain widespread and are proving increasingly difficult to resolve.” – Lord Jacob Rothschild

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Bitcoin Gains Bipartisan Support for Legality in Australia

Bitcoin Gains Bipartisan Support for Legality in Australia:

As reported by the Sydney Morning Herald, Labor senator Sam Dastyari and Liberal senator Jane Hume have come together to call on the Reserve Bank to ‘embrace bitcoins as an official form

H/t reader kevin a.

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The Dow Falls 274 Points As ‘Eclipse Fever’ Hits The Financial Markets

FYI.

–  The Dow Falls 274 Points As ‘Eclipse Fever’ Hits The Financial Markets:

Have we now entered a time of major financial shaking?  On Thursday, the Dow Jones Industrial Average was down 274 points.  The was the largest decline for the Dow since May, and high yield bonds were down dramatically as well.  Many are blaming the terror attack in Barcelona and “instability in the White House” for the downturn, but could “eclipse fever” also be a factor?  The closer that we get to the solar eclipse on August 21st, the weirder people seem to be getting.  You will see what I am talking about below.

But first let’s talk about the financial markets.  I have been warning that stocks are massively overvalued for quite a while now, and it turns out that the Federal Reserve very much agrees with me

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Banksters face fraud charges

Bankers face fraud charges:

Barclays bank, along with several high profile bankers have been arrested on fraud charges.

John Varley, the former boss of Barclays faces a maximum 22 year prison sentence after he and three other ex-directors of the lender became the first British bankers to face penalties for actions taken during the financial crisis.

The arrest comes after an investigation by the Serious Fraud Office accused the bank, along with several high profile bankers, of committing fraud. They are also suspected of engaging in unlawful financial assistance over its dealings with Qatari investors, including former prime minister Sheikh Hamad bin Jassim bin Jabr al-Thani, in 2008 when Britain’s banking system was on the verge of collapse.

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Americans are Rapidly Descending Into Madness

Americans are Rapidly Descending Into Madness:

I don’t live in an echo chamber, partly because there aren’t enough people out there who think like me, but also because I constantly and intentionally attempt to challenge my worldview by reading stuff from all over the political map. I ingest as much as I can from a wide variety of intelligent sources, picking and choosing what makes sense to me, and then synthesizing it the best I can.

Though I’m certainly grounded in certain key principles, my perspective on specific issues remains malleable as I take in additional information and perspectives. I try to accept and acknowledge my own ignorance and view life as a journey of constant mental, emotionally and spiritual growth. If I’m not growing my capacity in all of those realms until the day I die, I’m doing it wrong. Life should be seen as a battle against one’s own ignorance, as opposed to an obsession with the ignorance of others. You can’t legislate morality, nor can you legislate wisdom. The only way the world will improve on a long-term sustainable basis is if more of us get wise. That’s a personal journey and it’s our individual duty to accept it.

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One Trader Scoffs “Finally, A Market Where It’s Easy To Get Rich”

One Trader Scoffs “Finally, A Market Where It’s Easy To Get Rich”:

“…nothing matters except technical levels…the market is completely divorced from whatever is going on…”

*****

Nothing matters, until it does …

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Why Cryptocurrencies Will Never Be Safe Havens

Why Cryptocurrencies Will Never Be Safe Havens:

Every further new high in the price of Bitcoin brings ever more claims that it is destined to become the preeminent safe haven investment of the modern age — the new gold.

But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a new technology, specifically the blockchain. Think of the blockchain, very basically, as layers of independent electronic security that encapsulate a cryptocurrency and keep it frozen in time and space — like layers of amber around a fly. This is what makes a cryptocurrency “crypto.”

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U.S. Restaurant Industry Stuck In Worst Collapse Since 2009

After 17 consecutive months of continuous declines for the restaurant industry – the longest stretch since 2009 – the end of the tunnel for the restaurant industry is nowhere in sight, and according to the latest monthly data, there was a sharp deterioration in the latest monthly data.

U.S. Restaurant Industry Stuck In Worst Collapse Since 2009

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China Threatens With Trade War Retaliation If US “Damages Trade Ties”

China Threatens With Trade War Retaliation If US “Damages Trade Ties”:

“If the U.S. side ignores the facts, and disrespects multilateral trade principles in taking actions that harms both sides trade interests, China will absolutely not sit by and watch, will inevitably adopt all appropriate measures, and resolutely safeguard China’s lawful rights.”

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“Overwhelming Demand” Sees Filecoin ICO Raise $250 Million Without A Viable Product

“Overwhelming Demand” Sees Filecoin ICO Raise $250 Million Without A Viable Product:

It’s official: Filecoin, a blockchain project created by Protocol Labs, has raised nearly $250 million following a private “pre-sale” and public initial-coin offering – all without having a viable product to market.

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