"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."
