"I've got a new invention. It's a revolving bowl for tired goldfish."

Summer 2022.

Fed tightening expectations climbed following decent jobs report. The market is now pricing for the Funds Rate to be 3.48% on 12/22. A 75bp hike on 7/27 is widely assumed.

We are in Europe where the Euro has fallen to parity w the USD. Germany’s econ situation is stable for now. The Nord Stream 1 pipeline will be closed for “maintenance” on 7/11/22. If Gazprom ends all supplies, Germany will likely face a severe recession. Imports from Russia are at the highest levels since 2014 due to higher energy prices.

The ECB is reluctant to increase interest rates to help combat inflation, helping stronger EU countries in turn hurts weaker Euro countries with higher debt.

Freshly squeezed markets.

No- shares of GME won’t be money of the future.

Some “free” trading apps are perhaps undercapitalized for their business model. Operational risk is real.

Coinbase files for IPO.

Coinbase has submitted a draft registration (Form S1) with the Securities and Exchange Commission. Bitcoin nearly breached $24k today. Coinbase was last valued at $8B During a private funding round in 2018.

Weekend update.

Hey guys, Bitcoin has become more mainstream now that Paypal has announced that it will accept the cryptocurrency as a means of payment. BTC is rising in along with the volume of negative yielding debt.

Negative yields are good for Bitcoin.

Biden is leading Trump by 10 points in final days before election. 6/10 voters say the country is on the wrong track. But- Trump keeping his hopes alive by staying competitive in swing states.

Central banks around the world continue to save dysfunctional economies from blowing up.

Hello from the American Museum of Natural History. It’s just us and the dinosaurs!

Never forget.

I took this picture 10 years ago. I always take a moment to remember 9/11/01. The impact it had on so many lives. As a life long New Yorker- I still remember all the details of that day.

Swiss National Bank is one of the leading tech investors globally.

28% of SNB’s Equity portfolio is allocated to tech stocks. With holdings in Apple ($6.3bn) & Microsoft ($5.8bn).

Recent USD weakness.

The Euro has hit 1.20 against the USD, for the first time since May 2018.

However, the Euro cannot be credible alternative without a fiscal & banking union.

Try to relax.

Covid-19 is proof that life is short and unpredictable. Anything can change from one day to the next. Our health, wellbeing, wealth and job security can all be destroyed without a moment’s notice. What we think is ours for life is really just borrowed time.