Article: Global holdings of US Treasury Debt

Article - Media, Publications

Global holdings of US Treasury Debt

Mark Lundeen , 26 April 2021

During 2007-09 credit crisis the global banking system suffered from a grand-mal seizure. Trillions in their reserves becoming insolvent. The global payment system broke down. There was no way the big Wall Street banks and the financial markets would be spared from his slaughter unless Dr Bernanke and his FOMC began “stabilizing” the financial markets with a brilliant new contrivance; a QE.

As always, we begin with a Bear Eye’s View (BEV) of the Dow Jones, with this BEV chart beginning in January 1982. What’s a BEV chart? It’s a view of a market’s price series where each new all-time high registers as a 0.00%, or a “BEV Zero.” All other data points NOT a new all-time high are converted into a negative percentage claw back from its previous BEV Zero. Continue reading “Article: Global holdings of US Treasury Debt”

Article: Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street

Article - Media, Publications, Uncategorized

Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street

Cade Metz, WIRED, 18 February 2021

The problem with the modern economy, Byrne says, is that it rests on the whims of our government and our big banks, that each has the power to create money that’s backed by nothing but themselves. Thanks to what’s called fractional reserve banking, a bank can take in $10 in deposits, but then loan out $100. The government can make more dollars at any time, instantly reducing the currency’s value. Eventually, he says, laying down a classic libertarian metaphor, this “magic money tree” will come crashing down.

Continue reading “Article: Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street”