Fed Interventionism Creates Bubbles Like Bitcoin

Federal Reserve Intervention Creates Bubbles

JM Bullion

Is Bitcoin Being Manipulated?

Podcast Summary

0:00-6:22 Introduction- Week in Review; discussion of interest rates; waiter terminator/robots

6:23-10:00 Review of poor holiday shopping numbers and 3rd Qtr GDP; discussion of the interpretation of economic data and how the Fed uses its to continue QE but also to threaten to taper it; Fed’s intention to keep interest rates low for years with out QE admitting the economy is weak;the taper bluff for five years

10:00:17:50 will the Fed taper in December? What would the implications of tapering have on the economy and interest rates;the impact of the weather on mortgage applications; new home sales and home prices; rising interest rates; buying homes for investment vs as a primary residences; employment situation; Obama care; low paying jobs; job creation

17:50-22:09 consumer behavior and patronage of Walmart and JP Morgan; companies cutting expenses by cutting employees to support their stock prices; impact of QE on corporate behavior; Applebee’s robotic waiters vs live waiters; minimum wage

22:09-27:29 government contracts; congressional budget debate; raising the debt ceiling and increasing spending; 2014 elections; Obamacare

27:29-31:10 the debt limit and foreign purchases of US Treasuries; austerity, when will the US cut its deficit? media coverage of the stock market;Fed intervention in the treasury stock gold and silver markets.

Why People Buy Bitcoin

31:10-36:31 why people buy Bitcoin; how the Fed encourages speculation, the impact of an asset crash on the wealthy and middle class; taper meter; housing recovery watch

36:31-44:19 qualified residential mortgage rule debt to income ratios and interest rates; the impact of non farm payroll report and interest rates and Fed tapering in December;direction of home prices; Fed impact on the housing market

Bitcoin Manipulation?

44:19 – Bernanke and Bank of America on Bitcoin; transaction tracking and taxation;gold and silver as barometers of the value of the dollar; private individuals creating currencies vs private individuals issuing stocks; crushing or embracing a threat;manipulation of Bitcoin

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Further Reading:

Bitcoin a Mining Disaster Waiting To Happen

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

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