Author Archives: Michael

     

 

 

Shifting Patterns

In the last issue of Seasonal Insights I have discussed Bitcoin’s seasonal pattern in the course of a year. In this issue I will show an analysis of the returns of bitcoin on individual days of the week.

 

Bitcoin, daily – since bottoming in early December, BTC has advanced quite a bit. It remains an excellent trading sardine. [PT]

 

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Welcome to Acting Man's Forum!

It has come to our attention that the Voy Forum, that has inter alia provided a space where the so  -called 'Kitco refugees' could congregate and exchange their views, has run into grave problems. Either the forum is not loading at all, or if it does load, it has become impossible for users to log in.

 


 

You will find access to post after free registration, the forum button is located in the upper menu bar … or click here.

 


 

We have therefore decided to provide an alternative for this forum on the Acting Man site (other readers of our site are of course more than welcome to use it as well). This can either become a permanent home for the 'refugees' if they so wish, or a temporary one they can use in times of need (such as right now).

Similar to how the Voy forum worked, it will simply thread messages in chronological order. Essentially it will use the same process that is currently in use in our comments section, but a separate link to the forum page will be at all times visible at the top of the home page. Users who are not yet registered with us will have to register, as we need to guard against spammers (please see our privacy policy – your e-mail address will definitely never be passed on to third parties by us).

Depending on whether it catches on, we may at a later stage upgrade the forum page. Please be aware that if several links to outside sources are posted at once, the posts sometimes need to await approval (this is also to guard against spam). As a workaround, it may therefore sometimes be better to not post too many links at once in a single message.

 

Post away!

 


 

     

 


Euro Hysteria At A Fever Pitch

Monday was so chock-full with at times bewildering news items that one hardly knows where to begin. We decided therefore to focus on what one might call a case of official hysterics. The increasingly dubious mental state of the personae dramatis indicates that it would be reasonable to expect their unhinged mental disposition to influence  decision making at the highest level.

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A Debt Agreement Is In The Works – But Does It Really Matter?

Reportedly, Congress has now agreed on a plan to raise the US debt ceiling, or is close enough to agreement to make it a mere formality (at the time of writing anyway), which if true should remove this particular 'trigger event' from consideration for the markets.

In all likelihood this will lead to a number of  short term trend reversals, but it remains open to question whether some of the recent short term trends aren't the beginning of new medium term trends. As we noted last week, our impression was that stocks and bonds were mostly driven by the recognition that the economy is softening rather than the debt ceiling debate, as it has in any case been deemed unlikely that an agreement wouldn't be arrived at in a timely fashion. Some markets like e.g. gold and the 'save haven' currencies (i.e., the yen and the Swiss franc) were probably supported by the debt ceiling debate and t-bills came under pressure as money market funds investing in t-bills experienced large outflows last week (this underscores that there is indeed a difference between money and credit instruments, even the 'near cash' ones).

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…  in a 2:45 long video

Clarke and Dawes, in inimitable fashion, make the debt crisis accessible to everyone, by explaining exactly what the problem is. A friend sent us this video earlier today, and we felt we had to help spreading it, since it really hits the nail on the head. There's nothing that says we can't laugh while the ship sinks – it's better than pulling out one's hair (or what's left of it, depending).

 

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Most read in the last 20 days:

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  • Elizabeth Warren’s Plan to Bamboozle American Voters
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  • How Not to Launch a Gold Standard - Precious Metals Supply and Demand
      The Money of the Free Market, not of Governments Monday was Memorial Day holiday in America. Last week the price of gold rose 8 bucks, and silver 16 cents. With Keith traveling in Asia right now, this will be a brief report. But speaking of Asia, everyone seems to be talking about China’s (and other countries, such as Russia) accumulation of gold.   Accumulation of gold reserves over the past decade by various emerging market central banks (from the new Incrementum In Gold We...
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  • In Gold We Trust 2019 
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  • Bitcoin: What is the Best Day of the Week to Buy?
      Shifting Patterns In the last issue of Seasonal Insights I have discussed Bitcoin’s seasonal pattern in the course of a year. In this issue I will show an analysis of the returns of bitcoin on individual days of the week.   Bitcoin, daily – since bottoming in early December, BTC has advanced quite a bit. It remains an excellent trading sardine. [PT]   It seems to me that Bitcoin is particularly interesting for this type of study: it exhibits spectacular price...
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  • Paul Tudor Jones Likes Gold
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