Zuck probably doesn't use an AS400 like Bernie reportedly did.
(BTW- the most rock solid, stable computer I have ever worked with!)
Nice work William!
WB7 in the house. Hello?
WRKUSRPRF BMADOFF [return] 4 [return]
In reply to Zuck probably doesn't use an… by SaulAzzHoleSky
Glad to see the great WB-7 back!
Ain’t he in Alcatraz with Jon Corzine? Or a fella in a chair at the beach so stoned he looks, well...a bit deceased... but having one hell of a time anyway.
In reply to WB7 in the house. Hello?… by chunga
In reply to Glad to see the great WB-7… by Lumberjack
Wasn't he running for office, last time?...
In reply to Hilarious Banzai7 by TahoeBilly2012
Hillary Clinton’s other dream job? To run Facebook.
Hillary didn't run FB, but FB sure ran Hillary, and she still lost, thank God!
In reply to https://www.washingtonpost… by Lumberjack
Bernie Madoff was the precursor for Blockchain.
He was selling bags of Nothingness. Satoshi copied Bernie by stringing those bags into a chain of Nothingness.
Why a Group of Gold Bugs Couldn’t Stop Talking About Bitcoin
By Nick Rokke | July 27, 2018
“It just makes sense,” I heard someone say…
I was in a room packed full of gold bugs. It was the first day of the fifth annual Sprott Natural Resource Symposium in Vancouver—a must-attend event for natural resource investors. It’s where companies, financiers, and investors come together to share projects and ideas.
So I didn’t blink at the chance to fly across North America to find valuable insights on the commodities market. (As regular readers know, commodities are on the verge of a new supercycle. With the economy taking off, demand for resources is going up… and it’s only a matter of time until prices follow.)
I didn’t think much of the comment at first, but it took a surprising turn… “It just makes sense… Owning bitcoin is a lot like owning gold.”
You see, the conversation at a natural resource conference had shifted from gold… to cryptocurrencies.
A Surprising Guest
But what surprised me even more was seeing our very own Teeka Tiwari on the list of speakers. I had no idea he was going to be there. And he wasn’t just any speaker—he was the keynote presentation on the first day of the conference.
As you can probably guess, he didn’t come to talk about commodities. Here’s T in front of a captivated audience…
I wasn’t sure what kind of reception he would get… As you can see in the picture above, there’s a lot of grey hair. They’re all traditionalists who like investing in gold—not the latest trends. I didn’t expect much excitement about cryptos.
But Teeka came out firing with a couple crypto picks… and then shocked the audience with his bitcoin price prediction. As regular readers know, Teeka thinks bitcoin will hit $65,000 a coin within a year.
That caught everyone’s attention.
Not So Different?
When I asked some of these guys why they were excited, I got a lot of similar responses…
“I can put some of my money in this new currency that is outside of government control. They can’t inflate the value down like they can with the dollar.”
It’s the same reason why most of these guys invest in gold: It’s outside of government control. The government can’t just turn on the printing presses and print gold.
Gold and crypto investors have lost faith in government-backed currency… Why would you want to leave your savings in the hands of politicians, or with the unelected officials at the Federal Reserve?
People here are looking for sound money. Fiat currency is no longer sound… but gold and cryptos can be.
The second reason many of these guys said they had bitcoin was, “It’s the best way to diversify my portfolio.”
Some of the attendees told me they were Palm Beach Research Group subscribers. They’ve been paying attention. Greg Wilson, Teeka’s lead analyst, wrote about the diversifying benefits of bitcoin a few months ago.
According to a recent study by crypto asset manager Bitwise, allocating just 1% of your portfolio to bitcoin over the past four years would have increased your performance… and decreased the overall volatility of your portfolio.
So by adding this “volatile” asset, these guys would have actually decreased the price swings of their portfolio. That’s because bitcoin is uncorrelated to the stock market—when stocks fall, bitcoin tends to rise.
That’s also why gold investors hold gold. Countless studies have shown that if you just hold a small amount of gold, you’ll have better risk-adjusted returns.
It’s why we call both gold and bitcoin “chaos hedges.” When the stock market tumbles, there’s a good chance the money leaving stocks will go into gold and bitcoin.
This is why gold bugs love crypto… It’s almost the same thing as gold.
The only real difference is that you can hold a gold coin. You can’t hold a bitcoin—it’s only digital.
Other than that, bitcoin serves the same purpose for your portfolio as gold. It protects you from inflation, it gets your assets out of the depreciating dollar, it has a fixed supply that’s free from government interference, and it diversifies your portfolio.
But remember: if you do invest in this emerging asset class, we always recommend you take a small position size. Don’t bet more than you can afford to lose—$200–$400 is enough for a small investor to make life-changing gains.
Bitcoin and all cryptocurrencies are volatile. So, small position sizes will allow you to keep a cool head during extreme periods of volatility in the crypto market.
That said, bitcoin and gold complement each other. And that’s why I hold a little of each in my portfolio. I hope you do the same.
In reply to Bernie Madoff was the… by BallAndChained
"Why a group of anti-establishmentarians can't stop talking about establishment." (i.e.: ZH, for you...)
In reply to Why a Group of Gold Bugs… by Michigander
Cryptos are virtual Commodities as opposed to physical Commodities.
Commodities and Currencies (FX) have been traded by Traders and Merchants for millennia.
"Pump and Dump" might be applicable.
In reply to "Blah blah"
"Why a… by thisandthat
In reply to Cryptos are virtual… by any_mouse
That's why I hold Beanie Babies. They're almost the same as gold.
I’m pretty sure he ran for president as a candidate for the Democratic Party
Oh Man! You're picture article wiped out the Goldcore article I was going to read about Gold! Geez!
I guess it was worth it....Cosmos Factory.....I still have that album.
Amazing isn't it? How a false thing can become so embedded in the mind that it is remembered as real.
As the ponzi world of "high finance" broke apart, swirling around the toilet bowl, before it disappeared down the tube, a Face of Ponzi had to be fixated in the public consciousness.
That face was Bernie.
Bear Stearns was so stuffed to the rafters with Bernie Madoffs they were literally falling out of the windows...lol. AIG & Fannie Mae were like one of those cavernous/warehouse looking laboratories you see in a sci-fi movie, where Bernie Madoffs are created enmass inside test tubes on an industrial scale.
But they had to have a Face of Ponzi to affix the publics attention upon for this gigantic financial clusterfuck instead of where the publics attention actually belonged, so Jon Corzine gets to walk away with his billions while Bernie...goes to jail.
It is just like one of Banzai's pictures above, traffic cones picked up & placed on the sidewalk, with a garishly painted, over-the-top Porsche parked in the clearly delineated No Parking Zone, some drivers are way moar equal than others ;-)
Bernerke, Hank Greenberg, Geithner, Henry Paulson laugh about that all the time.
In reply to Amazing isn't it? How a… by nmewn
Bernie fucked Jews who wanted high returns without risk.
Corzine fucked independent Farmers and Ranchers who were hedging risks.
Unknown as to Madoff's political cronies.
Obama, Clinton, et al, were Corzine's political cronies.
Madoff was never a member of Congress or political office holder.
Corzine still is "The Honorable Jon Corzine".
In reply to Bernie fucked Jews who… by any_mouse
The AS400 was a very nice system and "very" popular.
My favorite story is the AS400 that was accidentally enclosed behind a new wall during a remodel, and ran for another 18 months before it finally stopped. The service folks had to trace the wires back to behind the wall to figure out where it was.
In reply to The AS400 was a very nice… by smacker
I remember back in the late 80s the IBM guys who sold the AS-400 systems would have running gun battles through the halls of HQ with the IBM guys who sold Unix systems.
Hahaha! Good one WB.
Cuck the Zuck....
Bravo WB. Nice to see you and your masterpieces again!
Millenials are just another new herd of sheep to be lied-to and stolen-from (sheared) by sociopathic banksters.
Millennial’s, the most Indoctrinated Gas Lighted Generation.
In reply to Millenials are just another… by GRDguy
Yes it's great news that Millenials are stupid. We can take advantage of their idiocy and naivety and exploit them for our financial gain !!!!
Thanks Millenials $$$$
Isn't Bernie that guy on the couch when Zuck spent a weekend at Bernie's? I think that's what my Dad told me...
Bernie Madoff is basically just Bernie Sanders, but instead of using government to force the scam upon you, he simply asks for all your stuff.
In reply to Isn't Bernie that guy on the… by Utopia Planitia
"Madoff, yeah...that's the guy that caused the financial crisis!
But Ben Bernanke, Jamie Dimon, and the Banks and Government saved us!
I think that guy also conspired with Cambridge Analytica and Trump to hack Facebook!"
Thank God they got him before it was too
In reply to "Madoff, yeah...that's the… by ebworthen
I wonder who they'll arrest when I go to get my social security check in 30 years, and there's nothing left in the trust fund to pay it.
In reply to Thank Tod they got him… by williambanzai7
SSI Trust fund? LoL. That money was raided long ago.
In reply to I wonder who they'll arrest… by jin187
Bill, Will, friend, thank you, for all you do. I'm autistic, I fix things. So folks don't get me, too. Beautiful werk!
God/ gods/ bless you and yours. Truly, thank you for some beauty and truth.
What a refreshing sight! WB7's work graces ZH. Thank you, William.
As Georgy Malenkov said in "The Death of Stalin":
They have the same nose. <wink wink>
Wasn't he the first chief justice of the supreme court? The director of the first Star Wars? That pussy doctor at USC?
Can I get more guesses?
An Off-Broadway musical comedy?
Those who can't recall the past are condemed to repeat it.
or are charged with perjury.
In reply to Those who can't recall the… by Kokulakai
Charged unless you are JPM.
In reply to or are charged with perjury. by tenpanhandle
The Farce is strong with them - until they start skrewing each other out of shekels. Then the FAANGs come out.
comparing to the gang on top today, he is indeed nobody.
Hi WB! It's time for me to order another print!
Guessing that most are far more with Madoff's ponzi than the Fed's.
For one, the guy was some jew who was known only to other wealthy jew 'titans'. So, why would anyone give a crap about another wealthy jew? For another, Madoff ripped off his fellow jews (the ultimate jew offense/betrayal), and those cunt jew victims had the guy tried and thrown in prison in no time flat (it helped that the DA/prosecutors/judge were all jews). Madoff should have stuck to ripping-off us goyim, but the jew skeezes had all of our money, so the goyim had no money to rip off.
And the morons vote.
How much worse can they possibly do?
In a few months, chances are good I'm giving the whole idea up altogether.
In reply to And the morons vote. by Winston Smith 2009