I do acknowledge that cryptocurrencies make some people nervous. They change deeply embedded societal structures. They change the fabric of your daily life. The security of certainty. Cryptocurrencies are a move in the direction of freedom. If we are willing to pay the price.
While CBA looks inviting with a grossed up yield of 8%, I’d happily watch how this plays out on the sidelines for now. In my view, the energy sector is now in the early stages of a new bull market. This may not be apparent immediately. After all, most bull markets start out with scepticism.
In today’s Money Morning…an incredible failure by one of Australia’s largest banks…regulators also to blame…government reaching for more power, as always…it’s dangerous to go alone, take a guide…and more…
It’s hard times for the CBA. And they will pay, in terms of both money and reputation. But now we all pay too. And not in the way you might think.
Investing is inherently uncertain. You don’t know what’s going to happen tomorrow, next week, or next year. The greater the perception of certainty is, the less fear there is, and the higher stock prices are.
Why are so many people resistant to change despite the evidence that something is very wrong? Is this a kind of collective Stockholm syndrome?
A central banker is usually an easy target. They live in the world of academia and theoretical models. So it’s easy to have a crack at them. But not today.
Australian banks continue to distance themselves from any crypto currency. They label them as untrustworthy and volatile.
The End of Australia, drills down to what the next big financial crisis will look like at ground level in this country. Remain cautious.
Why the ‘exorbitant privilege’ of the US dollar comes with an obligation…a fundamental misunderstanding of the global economy…and more…