Tales From the Crypto

Yes, we need to talk about crypto. [The Rude Awakening] October 26, 2023 [WEBSITE]( | [UNSUBSCRIBE]( Tales From the Crypto [Sean Ring] SEAN RING I’ve avoided writing specifically about cryptocurrencies for years. Sure, they’re in the Monthly Asset Class Report. But it’s rare I even mention them. I don’t include Biden Bucks or Central Bank Digital Currencies (CBDCs) in the crypto asset class because that’s just government evil dressed up as a benign answer to nerd money. The truth is the government lost control of rates, debt, and the narrative. And it seems like we’re nearing the end of an era. A legend in this newsletter business isn’t mincing words. Porter Stansberry, the man who foretold The End of America, tweeted this about 8 hours ago: [Rude] Credit: [@porterstansb]( I’m not going to lie; I felt rather good about myself. But in case you didn’t get his drift, he tweeted this an hour later: [Rude] Credit: [@porterstansb]( I can understand where he’s coming from. It’s been a shocker lately. Since Joke Biden entered office, inflation rocketed, along with interest rates, military weapons were left in Afghanistan, money printing has continued, Russia invaded Ukraine, and Hamas invaded Israel. And the only reason China didn’t invade Taiwan is because they wanted to take it intact. No one’s afraid of America anymore. Because America isn’t mighty, the dollar isn’t almighty. Hence, we need to talk about crypto. [[Revealed!] New AI Opportunity Bigger Than The PC?]( [Click here to learn more]( Just imagine being able to turn back the clock to the 1980s – right as a new technology known as the PC was getting its start… Seeing the promise of the PC – and captivated by Microsoft’s technology – an early investor decides to put in $500 during the company’s IPO in 1986. As of today, that $500 investment would have turned into a fortune worth over $1.6 MILLION. I bring this up because we are at the dawn of a new innovation which could be even BIGGER than the PC. [I’m talking about artificial intelligence, or AI](. According to Yahoo Finance, “we are on the cusp of a technological revolution that will fundamentally change how we live our lives.” And you have the chance to invest on the ground floor… [Click here now to see the 3 tiny AI stocks best positioned to profit](. [Click Here To Learn More]( Bitcoin Look at this chart: [Rude] Bitcoin has popped over $7,000 in the past two weeks. In [July’s Monthly Asset Class Report]( I wrote: Though it’s been a disappointing month for Bitcoin, you can see the price on the 50-day MA. I can see us bouncing off that and resuming our uptrend to $42,000. The next few weeks’ worth of price movement is crucial. If not, the first downside target is $26,000. I couldn’t believe I wrote that at the time. Now, we may hit the target before the end of the year. In his [Technology Profits Daily]( my friend and colleague Ray Blanco wrote: Saint George And The Dragon Three letters loom large over Bitcoin and the future of cryptocurrency. S E C The U.S. Securities and Exchange Commission has tried to hold the fate of crypto in its hands for years, and chairman Gary Gensler in particular has enjoyed every minute of it. Gensler has seemingly made it his life’s purpose to dismantle cryptocurrency, After appearing to be supportive of the technology, Gensler shifted his views dramatically after being appointed by President Biden in 2021. The SEC brought lawsuits against several crypto exchanges, including Coinbase and Binance, for selling unregistered securities. Possibly more damaging than the legal action itself is that Gensler and the SEC continue to withhold any clarity on which cryptocurrencies should be considered securities, or why. This forced holding pattern with the looming threat of a legal hammer falling out of seemingly nowhere has been crypto’s greatest obstacle in recent years. Bitcoin has also carried the weight of this aggressive uncertainty, despite comments made by Gary Gensler in an interview in which he said “everything but Bitcoin” should be considered a security. Gensler has looked for attention as the “hero” who will bring down all of crypto and it appears that’s what he’s gotten. The markets are clearly watching the SEC closely, which brings us back to Bitcoin’s recent price surge. BlackRock, the world’s largest asset management firm, has applied for approval for a Bitcoin ETF, which suggests to many that they already have unofficial approval from the Securities and Exchange Commission. If the SEC approves BlackRock’s Bitcoin ETF, it could be listed on the NASDAQ exchange. It would also likely be the first of many approvals for Bitcoin ETFs, and possibly many other cryptocurrencies. Unfortunately, while this would surely spike Bitcoin’s price, it would give institutions the power of pricing. It would be a Pyrrhic victory for coiners. Because we all know what happens when things like gold, market indexes, and volatility indexes become ETFs or futures: they can be manipulated. [@NorthstarCharts]( just tweeted: 3 Years ago, I advised a rotation was underway. Capital would drain away from stock markets/tech etc, and towards commodities/energy/precious metals. That was correct, is ongoing & will continue. Many remain unaware #Gold #Silver #Commodities (& possibly #Crypto #Bitcoin) According to friend and colleague Chris Campbell, we’re well on the way to “Alt Season.” Phase 1: Bitcoin. The flow of money flows in Bitcoin, causing a price surge. (YOU ARE HERE.) Phase 2: Ethereum: Ether starts outperforming Bitcoin, and we hear talk of “The Flippening.” "The Flippening" is a term used to describe a hypothetical event where Ethereum's market capitalization surpasses that of Bitcoin, thus "flipping" the two regarding dominance in the cryptocurrency market. You can find the rest of the phases and Chris’ excellent tech writing in [James Altucher’s Early-Stage Crypto Investor](. Wrap Up I’m not telling you to pile into crypto right now. But it’s clear that worries over the Middle East, America’s military weakness, and the USG’s financial lunacy are finally catching up. There’s a big rotation into gold, silver, and commodities. But Bitcoin is leading by a mile right now. It’s time to consider at least the possibility of investing in that space. Have a great day. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( P.S. Coming in a few hours is my [Morning Reckoning]( piece on exactly why Klaus Schwab’s Eat Ze Bugs plan must be squashed. I will show you the exact details of why animal-based protein is optimal for your health. It gives you stuff that bugs and grass don’t. P.S.S. Thank you for the overwhelming response to Jim Rickards’ interview on the Israel/Hamas conflict. If you haven’t watched it already, [head over to the brand-spanking-new Paradigm Press YouTube Channel right now]( to get Jim’s take on the next steps in this new, frightening saga. If you like what you see, let us know by liking the video, commenting, and subscribing to our channel. We hope you love it! In Case You Missed It… Hump Day Mailbag [Sean Ring] SEAN RING Before I get into the mailbag, I have an IMPORTANT announcement! We’ve just premiered our brand-new Paradigm Press YouTube channel! 🎉 For our premiere video, Rude Awakening editor Sean Ring, yours truly, sat down with Jim Rickards for an exclusive interview. Jim provides his up-to-date take on the Israel vs. Hamas war, how it will affect the upcoming election, and what it means for YOU. You need to see this: [click here to watch]( Then please like, comment, and subscribe… if you’re happy with what we’ve produced. It’s a privilege to write the Rude every day. I’ve already told our fearless leader, Paradigm Press Executive Publisher Matt Insley, that he’ll have to pry the Rude from my cold, dead hand. But to deliver you video interviews will change how you digest what’s going on in the world. And the best part… people like Jim, ace options trader Alan Knuckman, economist and Rude contributor Thorsten Polleit, and former Mises Institute President Jeff Deist do most of the talking. I merely ask the questions. As for today’s mailbag… so many of you were gracious to write in. And clearly, you made an enormous effort, as most of the mail was longer than a Rude edition! So, I plucked a few that I could fit for today and will publish the rest soon. Thanks for your patience. [Biden’s 2024 Presidential Run Doomed To Fail — Thanks To New Inflation Surge?]( [Click here to learn more]( Biden has given America its worst inflation crisis in over 43 years. But if you think the worst of inflation is over, think again… [A deadly new “Second Wave” of inflation is coming – one which could send the price of food, gasoline, housing and more skyrocketing much higher than they are today.]( Will this new crisis mean Biden’s 2024 Presidential run is doomed to fail? [Click here now to see my urgent warning.]( [Click Here To Learn More]( The IDF In America Sean, In your most recent article, you posed the question, “Will a Muslim Secretary of State allow IDF soldiers based in America to leave to defend Israel?”. I think the proper question is, what the hell are IDF soldiers doing based in America in the first place? Food for thought. Best, Mike M. Buddy Sean, I don’t know why you are stuck on the thought that IDF reserves are in the USA and have been recalled to Israel or volunteered to Israel to defend the country. I think that they may have simply followed your advice and have dual citizenship, c’mon man! I’ve read that dual citizenship is not recognized in Israel (illegal?). Yet, many Israelis have dual citizenship, and that New York has the largest Jewish population outside of Israel, so what is your surprise/ire about a plane load or many plane loads? And how many of them are working for the USG or their army of paid consultants? Get off of it. While you are swaying me into politics, have you ever pondered why there are so many Irish-descendent politicians in the USA (start with Biden, Trump, McCarthy. McConnell) and then thought about them making their independent pilgrimages back to the “old country” and the level of corruption in politics. Nationalism is strong. Even your wrap-up says, “… and it’s of our own doing.” Jim T. My man Jim T.! I’m with Mike on this one… and Mike, I thought I intimated the very question you asked, but not clearly enough. This is one of those subjects that surprise most Americans when they hear it. Like “You’re not allowed near a voting booth in any other country on earth unless you have a voter ID” or “Only Americans pay worldwide taxes regardless of their residence.” It’s utterly preposterous to me that foreign soldiers are sitting on US land outside of a military base. Sure, have dual citizenship like I do. But I’m not living in Italy and picking up a gun for France. Are you prepared to let all those Chinese Americans fight for China? What about Indian Americans? Sure, the US has a “special relationship” with Israel. But alliances last as long as interests coincide. And not one microsecond longer. As for the “Irish American” presidents, no one makes more fun of them than the Irish! [Barry O’Bama? Come on!]( At least Trump’s mother properly hails from Scotland… Can Manufacturing Come Back in America? Hi Sean. I always find your morning articles good reading and very informative. Reference your October 17 article - Demystifying Industrial Production. You mention bringing back industrial production to the US. I think 3 problems will result from such a move. 1. With the lack of qualified workers in the US, it will be difficult for industry to find good, competent help. 2. Costs for all goods will increase. 3. Quality of produced goods will decrease. Thanks as always. Raymond N. Thanks for the kind words, Raymond. I fear you’re correct. Here’s some proof: [TSMC delays US chip fab opening, says US talent is insufficient [Updated] | Ars Technica](. Wait until they start talking about the Great American Brain Drain! Oops, they already have: [The Brain Drain That Is Killing America's Economy | Time]( Frogging Around Sean, Jorge here…I’ve been meaning to write so many times in the past months but have been busy as hell. Your responses to the pansies that criticized you for being anti-France were priceless. I have so much to say and will get to it at some point but for now, keep up the GREAT writing, analysis, and reporting! This morning’s Rude was spot on! Warm Regards, Jorge dC Jorge!!! Wonderful to hear from you again! Thank you for your kindness. Yes, that article was too much fun to write! What in Sam Hill??? Sean, "Paleo-Libertarian"? love the phrase, but what the heck does that mean? (a really old-old-old time libertarian?) Regards, Walt B Walt, these questions are essential and need to be answered. Funnily enough, you’re most of the way there. Paleolibertarianism is a variety of libertarianism that fuses traditional cultural values and philosophical values with the standard libertarian antipathy of government intervention into private affairs. You know, before the “libertines” highjacked “libertarianism.” I was a lot more liberal before I became a father. It’s amazing how thinking about consequences alters one’s thinking. Wrap Up Thanks to everyone for writing in. But now, I hope you’ll flip over to Paradigm Press’ brand-spanking-new YouTube channel to watch [Jim Rickards explain the Israel-Hamas and its repercussions (all the way to America)](. In the great words of [Senator John Blutarsky]( “It don’t cost nothing.” All the best… [Sean Ring] Sean Ring Editor, Rude Awakening X (formerly Twitter): [@seaniechaos]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. 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