FT crypto watch Oct 11

FT crypto watch Oct 11


Cryptofans we love you!! Publish0x fans, we love y'all even more!! thanks for joining us to change the crypto fabric of the FT, one click at a time. 

Crypto in today's FT!!   Absolutely zip.   

Oh, there's some tradfi corruption items: 

Earnst and Young up to monkeyshines hiding trades, whitewashing for Leonteq. 

Barclays and gnat West screwed their clients for "millions" by not allowing clients to access their own data ( boy THAT's web2, huh!!!)

and crypto that dare not say crypto: 

Fiat printing  a plenty, amid and calls for more fiat printing a-plenty!! 

Many forecasts of global recession, thanks to the bungling of fiat printing causing massive inflation, now our fiat overlords think it would be GOOD to have more unemployment.  Thanks ever so much there big guys!! 

Is uncensorable crypto needed?  Well, here's a graph of how freedom of the press is going in India these days: c45a8cbcab6af452a835d2c39500277a2bfea9f4474d6de16634af752d5b2072.png

Let us hope that Publish0x never goes that way, we love our freedom Igor!! 

On to the FT online!! There they WANT us crypto  folks!! YES! Coinbase is approved in Sing!! b902005b90bdae596415c33a08abe9f891830260e3125aa65261ab869dbcd4db.pngTLDR:  the MAS and their Grim Reapers are hellhounds on the trail of D'oh, Kyle and Su!!   They claimed regulation in Sing would be more hardass than ever!!  And some of us laughed at them for saying that.  And NOW Coinbase is good to go in Sing!! A good sign for all around.  

Next up!! Pain, thy name is Gilt inflation linkers!!  adc8e82efffe1982337a1fb010d89cce70ff97d91f99745a05dd226b3decb61b.pngTLDR it's a race to the bottom, gilts vs bitcoin!! and inflation linked gilt (UK) bonds WON!! 

In the states, inflation linked bonds are called TIPS, treasury inflation protected securities.   We once had to bring a fresh bucket of real time technology to the new TIPS trader at MF Global before the 180 year old firm  piffed in a blaze of Jon Corzine stupidity and criminal arrogance.   Linkers, aka linky dinks, are the UK version, supposed to go up extra if inflation does.     

Ya know it KILLS Alphaville to say anything goodish about crypto!  It's ok, really they are just saying how bad the gilt market is.   Which is nearly indescribable.  Other articles keep going on about how close to oblivion the UK fixed income world was.  Then again, the UK keeps saying they will spend ten billion to help out, then they only spend half of one billion, even tho the gilt market is very much actively crashing, see above.   It's all funny!!  Cause crypto is SUPPOSED to be volatile, gummint fixed income ain't.   But UK 50 yr links are down 80% from Dec 1.  Woweee. 

Don't worry, the FT closes with a crypto dig.  Crypto's are silly (FU) but UK gilts are now shaky junk bonds.  

As an Alphaville update, Ukraine GDP warrants have lost less than the long linkers.  Which we must admit is funny. 0c6ec1d756989eb667d882f78562104e0697017dad4bd71c236e9472bf42c4f0.png

The REAL story: 

Let US offer an update as well!  Statista, link below, has ALL THE UK GILTS IN THE WORLD worth only two trillion as of December 1st.   

So if the UK gilts basically crashed 80%, that means that the total gilt market cap is now down around 400 million!! Bitcoin total market cap is right around 365 million, pretty much a WASH!!  And bitcoin doesn't have the UK printing fiat to quant ease it UP for years like the Gilts had!!   AH HAH HAH HA!!!! Little  Britain.   FTX and now Coinbase are legit in Sing, but OH NO not in LONDON ah hah hah hah !!!   Read em and weep, FCA & Alphaville!!  And have an FU for still spitting on crypto. 

Finally, good old Jems rocks in.  Ah man, what crypto hate does she bring?  Last time, dear readers know, was epic and world class. 

Today: 7c2360a19dbbf38ccc6d5f2385be7d91ce8ead34b9edb66634a2306750d3432d.png

TLDR:  Castle Craig in Scotland treats many addicts with a 12 step program, shades of Alcoholics Unanimous.  The leader Tony first treated a crypto addict in 2016, and he was very attracted to crypto then.  Tony almost put money in!!

Anti crypto addiction orgs and laws are not yet mature, people might not know they are addicted. (sic!!??!!)   Most of Tony's clients are cross addicted, often to coke and amphetamines, staying awake to play the market, then alky to come down.   One poor soul was fighting addiction to alky and drugs.  He set multiple alarms to wake up and check crypto prices, then relapsed. 

Jems says she usually laughs at toxic crypto culture, mostly cuz she is a salty no coiner, remember?  But she pretends to take the high road, buried in the last paragraph, stories like this give her no pleasure.  Then she slips the stiletto IN, baby - crypto is just a rather dangerous form of gambling.28e9f352d140dd43ec238d1502142344fe186d525bfb9e3f3ccf646cc343530a.png 

The REAL story:    We still don't understand how Jems can stay in the finance industry when she missed out on BTC at 300, we bet she was born rich-ish.  

Yes, gambling addiction is horrible.  But  addictive personalities can get hooked on playing tiddlywinks in the looney bin.  What if Tony put money in UK Gilts last year???   Of course gamblers can get addicted to crypto, or horses, or racing bugs on the windowsill, WHAT a false question!!   Judges say Jems maintained SOME pretense of balance.  We agree she pretended to try in a very classy way, but we override the Judges and still dish out at least one  FU.  

The greatest development in the history of money is here to stay, lady. If Tony HAD put money into crypto in 2016, he would have been very happy, if he just HODLed.   Should all horses and gilts be banned, then Jems??? ar ar ar ar !! 

We know Jems laughed when BTC went from 500 back down to 300, we just glanced over her story of how the BTC bubble would pop since it hit 3,500.   Well, we all just laughed at the UK Gilt market, but ya know what?? That AINT gonna zoom back up  5x next year.  BTC MIGHT!!! 0dfb63da695b5b49abe7d06a5eea0e5928847e66d4d9bd2bf345bdcc2fb393ae.png

Goodnight, we love y'all, gotta get some sleep!!

 ambassador link: https://www.publish0x.com?a=WZdPKv2bKg

Peace out, 

Love, 

Dave

 

 

 

 

 

 

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Dave Sawyer
Dave Sawyer

National Merit got this punk rocker to Oberlin, and Wall Street fintech gave up world tours and an NYU MBA. I am a Bitcoin true believer. Bitcoin is deeply revolutionary in a way we always prayed tech would be. Keep the baby Faith!


FT WATCH - the Financial Times on Crypto!!!
FT WATCH - the Financial Times on Crypto!!!

The WSJ turned into USA today - which leaves the FT at the top of the heap for serious financial news! Join us for a semi-serious monitoring of the FUD & hate the FT now showers on crypto. Dear readers know we love that pink newspaper but boy howdy does the FT despise crypto--- it's funny. The old guard always fights the new guard. The FT does it eruditely, with misleading comments, fun graphs, and outright lies (usually) attributed to crypto's greatest enemies!

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