Yeah. Again!

Maybe I should just call this the bitcoin blog.

Time to place myself firmly in the middle again. There are some on one side predicting bitcoin will die right back to $5 or even completely, on the other side are the hopeless optimists seeing it race to thousands of $ per BTC.

Me? I'm in the middle.

It is indeed on an entirely unsustainable ramp. That much I know. Well. I think I do. With every other commodity / share / currency that I know of. Yup. That's an unsustainable up-curve.  A whole bunch of logic in me tells me this. But this is something a bit odd, in certainly unusual times. If anything faith in traditional currency and freedom of exchange is on an increasing dive. That is going to mean yet more cash pumped in to BTC. So the question really is, what's the sustainable level? I have no freaking idea. It could be $50/BTC it might end up being $5000/BTC or .... god only knows! Somewhere in this range of freaky is a level it will eventually settle down to. It seems unlikely at this point that the value will be $0. It seems to have achieved escape momentum. It has, or is beginning to achieve that holy grail of currency, acceptance as a means of transfer and value for it.

It's set against a bizarre backdrop. The money printing presses of the world just keep going, and the stock markets and forex charts look super healthy. Everything has a David Lynch like saccharine sprinkling to hide any evil that may lie below. To me ... and well ... I could be wrong here. It looks like an increasingly dangerous disconnect. The viewpoints are incredibly polarized. The government statistics look increasingly, how can I put this? Imaginative. I'm not an expert in all fields, but I know a few have thrown hands up in horror at reality vs US commercial property occupancy and employment figures, and here in the UK we have some numbers that really don't add up on employment as well.

Maybe it's always been like this, and I'm late to appreciate it. That is possible. But gut feeling tells me (all praise the truthiness!), that maybe it has always been a little bit true, but now we're taking it to epic proportions.

Hell no. On a limb on this one. I've watched the EURUSD long enough, and the whole deal is ... bizarre. When the Greece crisis was originally hitting, things sort of made sense. Hits to the Euro gave you chunks in shorts. I mean. It went down. Things have changed. The market's still don't like it if the Troika look like they've lost the plot, but other than that, as long as Ben keeps printing, and Troika keeps just about getting away with it, there's no danger here folks! Up we go!

Once again, it's a people in glass houses scenario. Yes BTC looks crazy at the moment, but the rise is actually just due to demand, there's no mystery reason beyond that. People are just willing to pay that much for BTC at the moment. That doesn't make it invincible. But then look at the stock markets, they seem to be on an ever rising up curve based on money printing and bail-outs or bail-ins. That doesn't seem all that sustainable either when just about every underlying economic indicator tells you there's a hard hitting recession going on outside the stock markets. So who's the fool at the moment? The BTC buyer or the perma bull on the markets? Both maybe?

It's not just an increasing disconnect in finances I'm picking up. It's social as well. Thatcher's death highlighted it strongly today. I was alive back when Costello was singing and I prayed people would listen to Spitting Image. I remember being a teenager. Swearing with friends that we'd book a minibus together and go piss on Thatcher's grave. If you weren't in the UK around that time at an age to appreciate the hack and slash job Maggie did on the UK, you'll no doubt think that's cruel, stupid and evil. But million's of us did and do still think like that. We all noticed she supported apartheid, we hated her for it. Our skin crawled as she declared Pinochet a friend of Britain. We knew she was destroying unions and industry out of pure ideological malice against them. We saw all the jobs vanish and even now, lack of production and manufacturing sector in the UK that resulted. We even got to see her install Rupert Murdoch. Possibly the most corrupt and corrosive media barron the world has ever known. It was him that got her re-elected. The Sun knew it. They even bragged.


I'm not glad she died.

I wish she'd never existed.


If I can?
Yes.
I'll keep the promise to my friends.
If I have caused harm to anyone as much as Thatcher did to a nation. You're welcome to piss on mine.

Meanwhile ... Those that credit Thatcher with easy wealth and massive growth in the finance industry, who worship her vicious direct style of leadership "she got things done". Can't understand why there were street parties the night she died. Strangely, these people also seem to own virtually every single newspaper, radio and television station. I can't think of a single world leader except for known established dictators who's death has inspired celebration. I'm certain Maggie will be buried in a very secure location, probably with CCTV monitoring, so I and many like me, won't ever get the chance to stay true to our promises of years ago. What level of social disconnect are we managing to achieve here? It's beyond strange. It's a society living in some kind of psychosis.