Bitcoin, Banks and Black Friday – Podcast 11.29.13

Bitcoin and Banks

JM Bullion

Bitcoin, Banks and Black Friday

Podcast Summary:

0:00-3:00 intro

Black Friday
3:00-7:00 discussion of Black Friday; consumption vs. production; the Fed, China, cultural decline

7:00-12:37 discussion of interest rates and recent economic reports

12:37-17:00 Real estate “recovery”, inflation and interest rates, the government shutdown, new home sales,home price appreciation, tapering of QE, negative interest rates, paying to put money in the bank

17:00-18.27 Existing home sales and the stock market and the rationale for QE, correlation between the economy and the stock market

18:27-25:00 discussion of Bitcoin and the Fed and the US dollar, how are Bitcoins valued, why people hold Bitcoins, other virtual currencies,manipulation of the price of Bitcoin,proliferation of crypto currencies, gold and silver, naked short selling of gold

Black Friday
25:00-29:28 discussion of the Fed’s intentions based on the Fed’s view of the housing market, review of Black Thursday sales, the dangers of shopping vs dangers of terrorism

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29:28:34:20 predictions on Fed action during the December meeting, taper talk, taper bluff, five years of tapering!, keeping interest rates low without QE, China’s intention to stop buying U.S. Treasuries, not fighting the Fed

34:20-38:25 discussion of when the Fed loses control of the bond market, why stocks are doing better, valuations of stocks and homes, evaporation of the wealth effect upon a crash and deflation and the Fed’s response, share holders of the Fed,

Bitcoin/Black Friday

38:25-49:40 how the Fed “helps” the economy, the banks and unemployment, JP Morgan’s social media disaster, Bitcoin predicting the collapse of the banking system,the dollar and the stock market, confiscation of bank accounts, Cyprus, deposit insurance, how people would react to banks charging negative interest rates or confiscation of deposits,bank fees, capital controls, why Bitcoin is attractive, how the Fed discourages savings and confidence in the dollar and encourages spending vs holding dollars

49:40- the Fed and real estate, why the Fed continues QE, where the rich stash their money (bitcoin, art, gold, silver, coins real estate)

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Further Reading:

The Case Against Bitcoin

Black Friday Turns Dangerous

Message to the Fed – Tapering IS Tightening

Five Long Years in the Fed’s Potemkin Village

Janet Yellin and the Precious Printing Press
Janet Yellen and Negative Interest Rates

Shop Amazon – Countdown to Black Friday Deals Week

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