Paul Krugman: "Crypto Is For Criming"

Investment Analysis Clubs Destiny Solutions Corporation
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Krugman quit the NYC (because you know why) and now that he’s unchained, he has turned into of the best writers I follow on substack. No more corporate politics from upstairs means Krugman is saying things which need to be said. (Keep in mind this warning shot about Bitcoin was published in December 2024, before anyone sussed why Musk named his imaginary power center DOGE - which lifted the price of DOGE coin in price and which Musk pumped on Xitter.)

Anyway, at one time I was a crypto enthusiast. And then I lost it all to scammers (most likely Billionaires with their hands superglued to whatever token’s spigot.)

Follow the money. Resist the Kakistocracy and Oligarchy.

p.s. The comments section on substack are the best. They remind me of what Motley Fool Discussion boards used to be like.

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They have become the poster boy of DEI. A long way from when they used to brag about shorting DJT.

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In a related bit of news. As better minds ask continuously during these dark days, “What could possible go wrong?”

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Perhaps it’s time to revisit this topic from a couple years ago?

As they say: “it hasn’t aged well”…

Paul might be :100:% correct, and still be “wrong”.

So far, IMO, Paul is “wrong”.

I don’t invest based on “sin stock” allegations.
My goal is to own assets that increase in value.

My next comments are about BTC.
Only BTC.

IMO, the tailwinds are blowing BTC, specifically, to higher highs.
That’s my bias, WRT BTC.

Those Tailwinds include:
A US National Strategic BTC Reserve inches closer n closer.
6+ US States implementing BTC Reserve plans.
6+ foreign countries also implementing BTC Strategic Reserves.
Several public n private companies have acknowledged owning BTC Reserves.

The supply of BTC is (supposedly) finite.

Scarcity Theory suggests BTC will rise.
I put a small stake in Paul’s heart. Actually several small stakes: MSTR, MARA, CONY, MSTY.

YMMV, as they also say :stuck_out_tongue_winking_eye: IMO
ralph

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@rainphakir you may be 100% correct…but of course that is 100% speculative.

Wendy

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And that’s why the stake/s I’ve allotted, are ‘small’.

I got a :racehorse: in the race.

I have a pension, n I’ll take SS at 70.
That suggests my “rocking chair on the front porch” retirement is +/- secure.

Therefore, my risk tolerance in equities is …
High.

:duck:
ralph

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Cool image that shows your stake and philosophy of speculation. :slight_smile:

My approach has always been more like gardening. Slow.

200824 Roses
200824 Roses1920×2238 606 KB

Wendy

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Catherine Rampell “gets it.”

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Crypto
Crypto547×561 70.1 KB

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This is rich: CEO of Coinbase crying about all the trash coins (he claims 1 million tokens are coming to market weekly) and how hard it would be to investigate each one.

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The Guardian on the Golden Age of Fraud:

“With Donald Trump tapping top regulators with cryptocurrency ties and promising to make the US the “crypto capital of the planet”, the controversial and scandal-plagued industry is poised for laxer oversight and faster growth, which ethics watchdogs and ex-prosecutors fear could pose dangers for investors and spur potential criminal abuses.”

Ya think?

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