Off the Cuff: Faster & Furiouser

In this week's Off the Cuff podcast, Chris and Jim discuss:

• Bitcoin Bubble?
  • The price action looks like one
• The Japan experiment
  • Look East to see our future
• In Fraud We Trust
  • Our banking system is run on accounting fraud
• Staying Sane
  • Focus on what’s under your control

This week, Chris and James Howard Kunstler remark on how in an exponential world, things ultimately begin to speed up at an increasing rate. And at this point, we’re seeing exponentials everywhere.

For starters, the newly-popular alternative currency, Bitcoin, seems to have gone parabolic in price. That exponential price movement tends to signal that an asset has entered bubble territory – and indeed, as I type this, the currency has suffered massive volatility today that likely indicates the bubble is popping now.

Developments in Japan are happening fast now, too. Recently into its latest administration, Japan has announced its intention to double its money supply in just two years. Staggering. Stock prices are surging. The massive Japanese bond market has been halted numerous times in the past week.  It’s beginning to feel like things are getting away from the control of central planners – which is Chris’ big fear here.

Jim opines on how our financial and banking systems appear to be governed by sanctioned accounting fraud these days and seemingly exist to transfer wealth from savers to a favored few.  Since virtually none of this activity is actually based on productive output, when the music stops, there will be nothing left for the masses – and they understandably won’t be happy about it.