"Mechanically, the market cap of bitcoin would have to rise 10 times from here to match the total private sector investment to gold via ETFs or bars and coins..."
In the near term, stocks are elevated and may have to contemplate a second wave in the absence of a fiscal deal and before the vaccines can be widely distributed
"We will work with anyone who has the confidence of the American people... But that confidence can only be given to a candidate whose victory has been recognized by the opposing party, or after the results are confirmed in a legitimate, legal way."
"There is no such thing as a free lunch and someone will have to pay. Whether it will be bondholders (negative returns) or tax payers, or a combination of the two, it will likely be a big story for beyond the euphoria year of 2021."
...while these elites love to speak about “listening to the scientists”, they are among the least inclined to follow actual historical and comparative experience. Theirs is an oligarchic, authoritarian system of rule...
