I have never promoted a coin in public. I have said the entire space will be transformational for the financial industry. I still believe that.

Pumping coins makes everyone look away from the changes that are coming. That is what matters to me.

Not unlike the late 1999 when many only saw tech stocks as objects of speculation and missed the bigger picture.

I remember many laughing off e-commerce as a plausible idea because pets.com when bust? How does that look now?

So, I avoid talking coins.

I've also said never invest more than you can lose, and have recommended starting with $200 or so and consider it an "education fee."

Open an account and buy a coin. Move it to a wallet and stake, it.

If you do that, you will understand why everything is going to change.

The wild volatility is part of the birthing process of a transformational change to an important industry, like finance/banking.

Use this bear market and depressed prices to educate yourself with a trivial amount of money.

When you "get it" and ready to do something more, the next bull market (in the space, not a particular coin) will have begun.

The next bull might be months away. You have time.


• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Jim Bianco

Jim Bianco Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @biancoresearch

20 May
Last month the Fed said they had five yrs to create a digital currency.
Now Powell put out this video talking about stable coins and the Fed will have a report out on it this summer.
They are getting passed by the crypto world and have to move faster.
My early take.

A Central Bank Digital Currency (CBDC) will not work.

To work it requires the Fed to take over the banking system (making it more centralized and subject to more top down control).

Otherwise it will accomplish nothing.

Bottom line, stablecoins (the concept, not any one in particular) are winning. The Fed sees the future reserve currency and it does not involve them.

I look forward to their rationakiztion to hold onto the past.

Read 7 tweets
19 May
No coiners (most of which are rich CeFi-ers that see DeFi as a threat) are gloating about the decline in cryptoland.

Yes, the casino speculation in cryptos almost demanded this would happened (when and how impossible to predict).

But if you really understand the space, it is a parallel financial system and is now getting this first real stress test. If it makes it through, it would be incredibly bullish.

Today is not the worst day ever (%24h loss). The last such days were March 2020.

What is different now is DeFI was non-existent in those days.

DeFi really took off in June 2020 and was $100B in size at the peak a few weeks ago. So, this is the first real "test" of DeFi.

Read 6 tweets
10 May
Nothing to act on now ... but worth paying attention too.

The Seychelles is a African country of 97,000 off the coast of Tanzania. It is one of the richest countries in the world. The country is full of expensive cars and high fashion, think Beverly Hills.

Seychelles has FULLY vaccinated over 60% of its population, thanks to its wealth. The country has been using the Chinese Sinopharm and AstraZeneca inoculations.

It leads the world with the highest parentage of a population fully vaxxed.

But here is the concerning part ... Seychelles cases are spiking. Remember the majority of country has been vaxxed

Read 5 tweets
4 May
"Mailed money" has changed the personal income landscape of the US. PI shot up to $24 trillion, 27% yoy. We have never seen anything close to this before.

Wages are the largest component of PI. Econ argue against inflation without wage gains, stimulus has filled that gap.

To further underscore how much this stimulus has meant, the next chart shows that 33.8% of all personal income in the last year was “mailed” from the federal government.

This even exceeds to records set with last year’s CARES Act.

This money is piling into savings. The current savings rate is now 27.6%.

Read 6 tweets
14 Apr
The broader service sector has an impediment that herd immunity/reopening might not solve.

This chart shows the Kastle Indices of the percentage of major metropolitan office usage. It is still at just 25%.

Why do we need to return to an office? How much a week? What is better served commuting in an office everyday versus the way we have it's been done the last year?

This is a nice way to say that comm real estate is in trouble and herd immunity might not fix it.
Airline travel is about 2/3s back to pre-pandemic levels. Leisure travel is near 100% back.

But, if we do not return to the office 8 hrs/5 days business travel is not returning to pre-pandemic levels anytime soon, unless leisure is about to soar to new highs.

Read 4 tweets
13 Apr
Yesterday the March Deficit numbers were reported. The 100 million $1,400 stimulus charts blew out the deficit.

As this chart shows, the last 12-months the deficit was a hard to understand $4+ trillion. As a % of GDP it was an equally hard to understand 19%

How big is this deficit?

The next chart shows the surplus/deficit as a percentage of GDP for more than 225 years. The current deficit is now the second-highest in history. Only World War II produced a larger deficit.

March 2020 hit a milestone of sorts. Only 46% of the rolling 12-month deficit is now financed by taxes (bottom panel).

How did this happen? See the top panel. Spending (blue) has gone vertical and tax receipts (orange) have actually fallen.

Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!