
“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:
Russia readies end to Greek food embargo: Economy Minister
$92 quadrillion: PayPal accidentally makes man a quadrillionaire
Why Did Lavabit Founder Shut Down His Company?
Gold nugget weighing 5.5 kg discovered in Australia
Return of Cash Sparks Emerging-Market Rallies
More Taxpayers Are Abandoning the U.S.
Uber driver fleeing taxi inspector takes passengers for wild ride
Michigan governor appoints technocrat to run Detroit
American Farm Bureau calls for end to federal ban on hemp
Walmart may cancel three planned D.C. stores over 'livable wage' act
Pentagon to review controversial drone warfare medal
Couple files civil lawsuit against former cop who stole their medication
Portugal banking crisis sends tremors through Europe
Tripling in Chinese Debt to $1.7 Trillion Drags on Economy
U.S. to let spy agencies scour Americans' finances