The Winkelvoss Bitcoin ETF just might be salvageable. There were some fairly egregious misconceptions and dated understandings in the SEC's reasoning to reject the application. I can show those who are interested how to construct a stronger application that overcomes the objections. The demand is there, we just need to get the vehicle correct.
Further woes for the LBMA Silver Price benchmark provide an opportunity to launch a real silver price discovery auction in its place. However, the chances of this happening with the LBMA bullion banks still in charge are essentially nil.
The relentless risk rally which took the Dow above 21,000 and the S&P over 2,400, has taken a breather overnight, with S&P futures modestly lower tracking European stocks, while Asian stocks advanced on US momentum; late Wednesday comments by a unexpectedly hawkish Lael Braniard has pushed the dollar higher, pressuring oil lower.
“consistent with the stringent ethics rules established by the Trump Administration, Mr Cohn will recuse himself from participating in any matter directly involving his former employer, Goldman Sachs. He will also recuse himself from any matter or potential rulemaking before the CFTC in which Goldman Sachs has participated.”
When it comes to the future of bitcoin, the "holy grail" has emerged as becoming the first to have a bitcoin ETF approved by the SEC. Unfortunately for the bitcoin faithful, one may not be coming any time soon.
"We’ve been in a decline for years. Our national debt has reached monstrous proportions. Even if Trump is able to pull off a miracle and turn things around, there will have to be drastic cuts for this to happen. Painful ones. People will suffer."