
“So far this year, gold (GLD) has fallen 23% relative to the U.S. dollar (UUP), while bitcoin has risen 4,600%. This is quite the precipitous contrast. Perhaps this is just coincidental. Gold, after all, has always been volatile and subject to multiyear cycles relating to many factors including demand, inflation, the economic cycle and investor perceptions of global political stability. And maybe bitcoin is just a speculative bubble marked by illiquid parabolic lunacy. As more fast money piles in, the higher it goes, with the price flying above $600 Monday. Though some might argue, of course, that this is what things look like when the world moves away from old physical money to new electronic money.”
Related posts:
Feinstein insists NSA’s massive snooping operations are ‘not surveillance’
9/11 Commission leaders push for changes in US terrorism fight
Two years after Mubarak, his prison torture apparatus still wounds Egypt
Shut up and take my bitcoins! A map of Bitcoin-friendly businesses
Melbourne residents turn unused car parks into cash
Bitcoin Currency Use Impeded by IRS Property Treatment
Policy battle rages in China as slowdown feeds 'sense of crisis'
Facebook to have privacy policies audited for two decades under FTC deal
Codename 'Apalachee': How America Spies on Europe and the UN
FTC to music teachers: Better not try to raise the price of your lessons.
Proposals announced to boost Shanghai Free Trade Zone
Cop charged with stealing from home he was sent to check on
More trade payments settled in yuan
Cardboard officer cuts crime by 67% at Mass. subway stop
Will civil war hit Afghanistan when the U.S. leaves?