SM Market Review (Oct 2021): Leveraged speculators creep in after strong rally

We experienced a major 40% rally in bitcoin in October, driven by valuation, but triggered by SEC ETF approval. Valuation is less attractive than a month ago, but still very constructive heading into November so large price increases are the base case. However an increasing number of leveraged speculative implies the market will likely get … More SM Market Review (Oct 2021): Leveraged speculators creep in after strong rally

Sound Money Monthly: (ed. 2) “Slang in die Gras” / Snake in the Grass

Have you ever wondered how we managed to accumulate so much debt? In this edition we’ll tackle the causes for the biggest debt bubble in history. You’ll learn about short-termism, interest rates and the feedback into politics. Don’t worry, I have no desire to talk about politicians, elections 2020 or go down the Donald Trump … More Sound Money Monthly: (ed. 2) “Slang in die Gras” / Snake in the Grass