Home in the Range
Don't Call It a Blood Bath; We'll Be Here for Weeks (Maybe Months)
Lot’s of hysteria around this draw down in both traditional and crypto markets. And, to think, in the last day or two, people were starting to get bullish. How silly we tend to be.
We’re in a range. I wrote a bit about this sort of thing in this edition of the newsletter. And in this edition of the newsletter, I wrote about how we could go to $42K/bitcoin. I’m a really smart guy. Maybe I am an oracle. Or maybe we are in the same sort of range that we were in this past summer. Could we go lower? OF COURSE. (And if we drop below $40K/bitcoin, we are technically in a bear market.) Will we go lower? I don’t know. However, if I still had a stream of income, I’d likely continue to dollar-cost average into crypto markets here. And if I had the type of insider information that this woman below has, I’d be more than happy to share it with you.
(But it’s okay that she trades on insider info, no? I mean, she poses on the cover of “Rock n’ Roll” MSM magazines with black and brown women.
She must not be totally rotten to the core at all, and we should totally trust what she has to say.
Focus, Frank.
Be less antagonistic, Frank.
Drop the nihilism, Frank.)
And we’re back…
Why did markets fall? Well, the Fed said that they were going to begin tapering. This is healthy, right? The Fed says it will do less to artificially prop up markets, and suddenly all of the “capitalists” on Wall St. instantly want less exposure. It’s fantastic that markets react so drastically to what a committee of non-elected bureaucrats have to say. How very pre-collapse Soviet Union of us.
Will the Fed really taper? They might. It likely all depends on how the Boomer Casino responds.
Yes, I’ve cited someone who seriously refers to themself as “The Wolf of All Streets” twice in this edition of the newsletter. Another sign that we’re in good shape. And here’s another one of those healthy signs…
(Source)
So, yeah, guys; everything’s fine, especially if you bought $FTM when I mentioned it in this edition of the newsletter.
That’s right. If you wanted to endure this dip with relatively little damage done to your portfolio, you should have bought stake in a “Layer 1 Cryptocurrency” called “Fantom” and a “DEX” called “Spooky Swap”.
This is real life in 2022.
Here’s something else that’s real life…
Yesterday, I spoke with someone from the teachers union that I used to belong to. Now, this union really did their best to get everyone pumped up and involved to get our 2%-4% raises (or something like that) a few years ago. When I said to the union rep, “Doesn’t it seem silly to you that the union got everyone so excited about trying to get us a raise that’s already been eclipsed by the CPI measurement of inflation (6.8%)?” Her response: “Oh, yeah. Totally. A lot of what goes on with the union is performative.” LOL.
So, whether it’s the right, or the left, or markets, or the union you belong to, take it all with a grain of salt. Everyone is just pumping their own bags.
And now, I’m likely going to go listen to an Eckhart Tolle lecture about being still and not letting the world rattle you before heading outside to sift through the dirt to collect some rocks (one of my assignment’s for this week of The Artist’s Way.)
Be easy, and may God have mercy on our souls for being such degenerates.
Best,
Frank
Twitter: @frankcorva
Currently Reading: “Krishnamurti’s Journal”, by Jiddu Krishnamurti
P.S., Thank you to the person who donated some money (as per my request in this newsletter) to a Venezuelan friend of mine. I sent her some money yesterday, and it will help her to pay for a surgery for her father.
Krishnamurti 👍