MC Escher Relativity 1953 • ‘Buy the Dip’ Has Never Been More Popular in US Stocks (BBG) • Bitcoin Bears Soon Able to Short Futures Through Interactive Brokers (BBG) • China’s GDP Growth Set To Plunge To Near 30-Year Low In 2018 – ADB (CNBC) • Free Money From China Comes With Strings (CNBC) • 2700 By Christmas? (Roberts) • The Great Globalisation Lie (Rodrik) • Britain Doesn’t Appear To Be Collapsing As A Result Of Brexit (Bilbo) •
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Gustave Courbet Seascape 1874 Bitcoin Doesn’t Exist was written exclusively for the Automatic Earth by Dr. D and first published as a five-part series there. The Full Story combines these five parts. Given the length and the amount of information, we suggest you might want to save or bookmark it. And you can of course always express your appreciation of the Automatic Earth through Paypal. Dr. D: Bitcoin is all the rage today, and as it
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Wassily Kandinsky Clear connection 1925 • How Fed Rate Hikes Impact US Debt Slaves (WS) • Why Obamacare Is Locked In An Inescapable Death Spiral (ZH) • Sitting Closer To The Exit (Roberts) • Oil Producers Turning to Crypto to Solve Sanctions Problems (Luongo) • Peak Bitcoin Media Mania Yet? (WS) • Bitcoin – Millennials’ “Fake Gold” (Katsenelson) • Next Bank of Japan Governor Faces a ‘Job From Hell’ (BBG) • Sweden: More Signs The World’s Biggest Housing Bubble
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MC Escher Balcony 1945 • Bitcoin Futures Top $18,000, Soar 20% From Open – Halted for Second Time (ZH) • Investors Told to Brace for Steepest Rate Hikes Since 2006 (BBG) • The Struggle To Maintain The “Standard Of Living” (Roberts) • China Audit Finds Provinces Faked Data and Borrowed Illegally (BBG) • Markets Tell You What To Do If You Listen (Peters) • UK Seeking ‘Canada Plus Plus Plus’ EU Trade Deal (BBG) • Brexit’s Just A Distraction
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Gustave Courbet Sunset on Lake Geneva 1876 Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 Chapter 2 is here: Bitcoin Doesn’t Exist – 2 Chapter 3 is here: Bitcoin Doesn’t Exist – 3 Chapter 4 is here: Bitcoin Doesn’t Exist – 4 Next up: all 5 chapters combined in one big essay. Dr. D: Bitcoin can be stolen. Although “Bitcoin” can’t be hacked, it’s only software and has
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Robert Frank Motorama, Los Angeles 1956 • Peak Fantasy Time (David Stockman) • Deflation Remains Biggest Threat As Lofty Stock Markets Head Into 2018 (F.) • Global Powers Lobby To Stop Special Brexit Deal For UK (G.) • The US Media Yesterday Suffered its Most Humiliating Debacle in Ages (GG) • Principles of Political Economy: The Opening Lines (Steve Keen) • Half A Salary, Half A Job, Half A Life (K.) • Erdogan, Tsipras Strike Secret Deal On Refugees
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Gustave Courbet The wave 1871 Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 . Chapter 2 is here: Bitcoin Doesn’t Exist – 2 Chapter 3 is here: Bitcoin Doesn’t Exist – 3 Chapter 5 will follow shortly. And after that, all 5 chapters combined in one big essay. Dr. D: Well, all parts of the system rely on accurate record-keeping. Look at voting rights: we had a security
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MC Escher Belvedere 1958 • The Fed’s QE-Unwind is Really Happening (WS) • 2017 US Wage Growth Failed To Pick Up Despite Unemployment Rate Decline (BBG) • The Bitcoin Whales: 1,000 People Who Own 40% of the Market (BBG) • Bitcoin Futures Could Be “A Clusterf*ck Of Monumental Proportions” (Blain) • Central Banks Or Bitcoin: What’s The Greater Bubble? (Jim Kunstler) • Chinese Banks Didn’t Object to New Asset Rules, Association Says (BBG) • Enron? Citi, BofA, HSBC, Goldman,
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Gustave Courbet The wave 1870 Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 . Chapter 2 is here: Bitcoin Doesn’t Exist – 2 Chapter 4 will follow shortly. Dr. D: The money, the unaccountable, uninhibited release of tokens can do more than just buy centuries of hard labor in seconds, it‘s also a method of control. Banks, our present issuers of money, can approve or destroy businesses by
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MC Escher Convex and concave 1955 Note: no Debt Rattle tomorrow due to travel • The Great Credit Party Is Almost Over, Societe Generale Says (BBG) • Mother of All Bubbles Too Big to Pop – Peter Schiff (USAW) • One Day Soon, The Sun Will Not Rise (Econimica) • China’s Financial System Has Three Important ‘Tensions’ – IMF (CNBC) • Bitcoin Mining Service NiceHash Says Hackers Emptied Its Wallet (BBG) • Trump: Government Shutdown ‘Could Happen’ Saturday
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