“We believe the effect of the troubles in the subprime sector on the broader housing market will be limited and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system,” – Fed Chairman, Ben Beranke – May 17, 2007.
“You know probably that would be going too far but I do think we’re much safer and I hope that it will not be in our lifetimes and I don’t believe it will be.” – Fed “Chairman,” Janet Yellen – June 27, 2017
Lovely interview again. I dont waste my energy anymore on listening to mr Andrew Maguire. He made so many calls and all of them turned out to be a big dud at the best. Quite often the opposite happend even. Instead of prices rising, they fell. Maybe just as good as a contrary indicator like Gartman (smile). Just as central banksters are.
I agree with your guys take on cryptocurrencies though I want to add one nuance. If I understand the bitcoin fork debate, it means more are created in a way. That within 10 years of its existence. If it does not increase the supply, correct me please!
Fun real story from when the Internet was being rolled out here, I had a good position in the biggest corporate Internet provider here in Holland. The banks jumped on the wagon very quickly but then encryption was only possible from the POP (point of presence) of the net itself. Bankrobbers found that out pretty fast and they broke into POPs quite oftenn to rob the bank by intercepting traffic just before encryption was applied at the POP. The biggest and most succesfull bankrobberies happend then. No one ever even publicised about it. Since then I dont trust digital stuff, especially with money / wealth.
Maguire is nuts for making that call – I hope he’s right but I doubt he is.