• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

How The Only Market That Is Open Reacted To Today's News & Rumors

Tyler Durden's picture




 

There are no regulated financial markets open today; no BIS-buffered FX market, no Fed-spoon-fed US equity market, no BoJ-jawboned Nikkei 225, and no ECB-sponsored Spanish bond market to judge today's news and rumors. But there is one 'market' open - a market that prices in the belief (or lack thereof) in the status quo to a lesser or greater extent. Illiquid as it may be, today's Bitcoin prices (and volume) says a lot about the headlines of the day...

The fiat-currency-based price of a Bitcoin today has
risen (less confident in the status quo) and fallen (more confident) as
the day's headlines hit...

 

Source: bitcoincharts.com

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Sat, 03/23/2013 - 17:36 | 3366737 fonzannoon
fonzannoon's picture

Kinda funny that Intrade was taken down just prior to all this.

Sat, 03/23/2013 - 17:41 | 3366761 TraderTimm
TraderTimm's picture

And bets of bitcoin rose to fill the need - http://betsofbitco.in/

There are some cyprus bets available.

Sat, 03/23/2013 - 17:46 | 3366781 bullionbaron
bullionbaron's picture
Bitcoin Bubble or New Virtual Currency Paradigm?

http://www.bullionbaron.com/2013/03/bitcoin-bubble-or-new-virtual-curren...

Sat, 03/23/2013 - 17:54 | 3366816 toys for tits
toys for tits's picture

Aren't the bitcoins made in 1964 and before still 90% silver?

Sat, 03/23/2013 - 18:21 | 3366893 dick cheneys ghost
dick cheneys ghost's picture

Is it ok to 'clean' ones Bitcoins?

Sat, 03/23/2013 - 18:35 | 3366942 fockewulf190
fockewulf190's picture

If I turn my computer on and off a bunch of times, can I slap together a proof bitcoin? I need 220 volt bitcoins as well....none of that 120 volt junk bitcoin stuff, although they probably still can be used for end of the world, Mad Max scenarios.

Sun, 03/24/2013 - 06:15 | 3367824 GetZeeGold
GetZeeGold's picture

 

 

Electronic Fiat to the rescue!!!

Sun, 03/24/2013 - 10:05 | 3368150 labestiol
labestiol's picture

Electronic Fiat to the rescue!!!

I'm still amazed by how many people don't understand what the term "fiat" means.

Sun, 03/24/2013 - 19:07 | 3369943 Diogenes
Diogenes's picture

It means your money is depreciating like a rusty Italian car.

Sat, 03/23/2013 - 17:56 | 3366824 caconhma
caconhma's picture

The good American story. God bless America.

Texas Sheriff: Homeowner’s Gun Key to Saving His and Wife’s Lives from Home Invaders

By Bryan Preston

March 20, 2013

 

Two men invaded the home of a Maypearl, TX family today. Maypearl is in Ellis County, south of Dallas. Only the wife was home. She spotted the men trying to break in, called her husband, who came home, retrieved the family gun, and confronted the two invaders. A shootout ensued, the man wounded one of the invaders, and then the invaders apparently killed themselves.

 

The Ellis County sheriff’s department spokesman, Lt. James Saulter, said “It’s another reason that we’re good with our homeowners being armed. I believe there would’ve been a different outcome if they hadn’t been armed. Our suspects were heavily armed.”

 

The homeowners will face no charges.

 

Sat, 03/23/2013 - 18:02 | 3366839 HD
HD's picture

He had time to come home? Were these elderly home invaders?

Sat, 03/23/2013 - 18:27 | 3366911 macholatte
macholatte's picture

 

....and then the invaders apparently killed themselves.

 

Bra-ha-ha-ha-ha-ha-ha

Sheeet! Texas..... nuf said.

Sat, 03/23/2013 - 19:51 | 3367164 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Fuck ya'll I'm going to Texas. Oh wait, I already live here bitches!!!

Sat, 03/23/2013 - 21:25 | 3367379 Monedas
Monedas's picture

The wounded invader probably said to his partner .... you're goin' down too, Motherfucka ! Bang ! Oh yeah, take that ! Bang ! ..... Silence .... Distant siren approaching !  Cut !

Sun, 03/24/2013 - 10:21 | 3368253 Magnum
Magnum's picture

The two who killed themselves were teens who arrived at the house with guns one of them had taken from his dad.

Sat, 03/23/2013 - 19:00 | 3367025 Kirk2NCC1701
Kirk2NCC1701's picture

Good Q, fair Q. My advice is that whatever your position, that you be adult/man enough to admit you were 'wrong' if the outcome is contrary to your position. Just saying. "Discuss!"

Sat, 03/23/2013 - 18:57 | 3367027 Randall Cabot
Randall Cabot's picture

THe US Treasury has other ideas about bitcoin: http://www.realjewnews.com/?p=805

Sun, 03/24/2013 - 17:02 | 3369501 StarTedStackin'
StarTedStackin''s picture

Did a Jewish man once turn down your homosexual advances?

Sat, 03/23/2013 - 22:05 | 3367461 Buck Johnson
Buck Johnson's picture

I don't know what it is, but I have a question.  Who started Bitcoin?

Sun, 03/24/2013 - 01:37 | 3367701 labestiol
labestiol's picture

Answer is... nobody knows. The one who wrote the first software to implement this protocol was known as Satoshi Nakamoto, but it's a pseudonym.

He left the developpers team more than two years ago, and was careful enough not to leave any trail behind him.

And if you think it's a problem, know that it's not. Software is open source, we know what it does, nothing is hidden. Hell, even if the Bernanke wrote it, I'm ok with it.

Sun, 03/24/2013 - 15:35 | 3369192 ebear
ebear's picture

This should clear up any confusion you might have:

http://www.youtube.com/watch?v=7vctrc6AHos&feature=related

and if that doesn't help...

http://www.youtube.com/watch?v=BWKLuwR_bFw&feature=related

Sat, 03/23/2013 - 18:07 | 3366854 Matt
Matt's picture

That site looks awesome. If you make a statement, and people bet on it, you get 5% of the loses.

Sat, 03/23/2013 - 17:37 | 3366740 IridiumRebel
IridiumRebel's picture

Clit-Coin

Sat, 03/23/2013 - 17:39 | 3366751 bank guy in Brussels
bank guy in Brussels's picture

New US rule

All Bitcoin transactions to be a felony without government filing of
 
IRS Form 1099-BTC (Form Buttcoin)

Sat, 03/23/2013 - 17:43 | 3366770 nmewn
nmewn's picture

Wouldn't surprise me. They came up with a law that forced everyone to buy something whether they wanted or needed it or not.

Forward Comrades!

Sat, 03/23/2013 - 17:51 | 3366800 kaiserhoff
kaiserhoff's picture

That sort of terrorist talk just might get you into the officer's quarters at the FEMA re-education camp.

Working Title for my post-war memoirs:  When 1.6 Billion Rounds Weren't Nearly Enough.

Sat, 03/23/2013 - 17:59 | 3366831 magpie
magpie's picture

If US patriots are lucky, they will be corzined like any other asset class around

Sat, 03/23/2013 - 19:01 | 3367037 toys for tits
toys for tits's picture

You guys often joke (I think) about internment, but does everyone realize that since Korematsu v. United States* hasn't been overturned it allows internment of a race for "a good reason"?  

I'm sure that case law could be stretched to other classes of people as well.

 

* 1944 supreme court case about the legality of the Japanese-American internment camps. http://en.wikipedia.org/wiki/Korematsu_v._United_States

Sat, 03/23/2013 - 17:48 | 3366787 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

or 2-Bit Coin.

Sat, 03/23/2013 - 18:52 | 3367009 bloostar
bloostar's picture

You've got a vintage there, mine are all 16 and 32 bit.

Sat, 03/23/2013 - 17:42 | 3366764 maskone909
maskone909's picture

shitcoin

Sat, 03/23/2013 - 17:49 | 3366792 Pseudo Anonym
Pseudo Anonym's picture

bitcon

Sat, 03/23/2013 - 18:38 | 3366956 stacking12321
stacking12321's picture

first they ignored it

then they mocked it

then they fought it

then we won

Sun, 03/24/2013 - 12:59 | 3368710 LongBallsShortBrains
LongBallsShortBrains's picture

Then you hypothecated.

Then you rehypotheticated

Then our ass got sore.

Rinse

Wash

Repeat

Sun, 03/24/2013 - 19:06 | 3369939 stacking12321
stacking12321's picture

nice try, balls, but the above shows you dont quite understand what bitcoins are, or else you don't understand what rehypothecation is.

 

Sat, 03/23/2013 - 17:42 | 3366769 GMadScientist
GMadScientist's picture

Capital controls won't stop you!

Sat, 03/23/2013 - 20:15 | 3367220 CH1
CH1's picture

Clit-Coin

And the naysayers still wouldn't be able to find it!

Sun, 03/24/2013 - 11:51 | 3368491 Jake88
Jake88's picture

Oh yeah. Like I needed a reminder that I am on ZH.

Sat, 03/23/2013 - 17:38 | 3366747 kliguy38
kliguy38's picture

It seems the rabbits are getting harder and harder to find........maybe its because the hole is getting deeper and deeper.........

Sat, 03/23/2013 - 17:38 | 3366749 Atomizer
Atomizer's picture

Sit back and wait to see the reaction of BRICS Summit.

 

http://www.brics5.co.za/

 

Sat, 03/23/2013 - 17:53 | 3366808 Yen Cross
Yen Cross's picture

    I like the 'Featured Events' category Atomizer.  3-24-13 BRICS Beach Festival. LMAO/   There's going to be some festivious alright...

Sat, 03/23/2013 - 17:40 | 3366755 uranian
uranian's picture

From 53 bucks to 69 bucks/30% move in 4 hours, that level of volatility leaves even silver in the dust.

Sat, 03/23/2013 - 18:00 | 3366835 ThirdWorldDude
ThirdWorldDude's picture

As long as there's sheep, there'll be sweaters.

Sun, 03/24/2013 - 13:00 | 3368717 LongBallsShortBrains
LongBallsShortBrains's picture

And thhose who will sheer them.

Sat, 03/23/2013 - 18:28 | 3366912 Silver Garbage Man
Silver Garbage Man's picture

Dust is more tangible than bit coin .

Sat, 03/23/2013 - 18:38 | 3366960 10044
10044's picture

Coming to a silver "market" near you soon

Sat, 03/23/2013 - 20:10 | 3367201 The Shootist
The Shootist's picture

As Mr. Sinclair states, "orgasmic."

Sun, 03/24/2013 - 14:12 | 3368963 dunce
dunce's picture

As soon as bitcoins are convertible on demand to PM, fiat will be a secondary currency. It could happen. Private PM depositories could be established nationwide so people could get physical delivery and store it in a home safe so it could not be loaned out, sold, or otherwise hypothicated. An banking system outside of govt. control is easily possible with modern communications and transportation.

Sat, 03/23/2013 - 17:40 | 3366757 TraderTimm
TraderTimm's picture

I'm sure this is meant more in jest than anything - it is easy to fit "news" after the fact. After all, the brain-dead analysts on CNBC do it every day.

Also, there is a lag when people try to move funds to exchanges, unless they're arranging local trades. I think the true influence will be felt next week or so.

Sat, 03/23/2013 - 17:40 | 3366759 Poqit
Poqit's picture

Why is dead in quotes?  I don't think anyone's disputing that Berezovsky's pulse stopped, just who ended it.

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