Biden continues to drain the Strategic Petroleum Reserve (SPR) per an agreement earlier this year while oil continues to rip higher in price. SPR is down to levels not seen in 30+ years now.
Meanwhile the Ruble appreciates against the dollar (which is still very strong) as the global energy crisis worsens for everyone not dealing with Russia.
Here's an idea: let's ramp up domestic production again so we can be net exporters of crude while prices are high.
Two birds, one stone.
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"You'll have to rub it on."
Excellent one liner! "I'm so full you'd have to rub it on." ha
Those last few sentences about allocation are exactly why even professional, well-known traders and asset managers like Paul Tudor Jones and Ray Dalio both recommend allocating at least a small amount (1% - 5%) of your portfolio into Bitcoin.
That 1% of your portfolio may yield 128.5% yearly on (geometrically) average, and that's damn fine performance for a tiny allocation.
Lmao. One minute chart on #bitcoin from 20 min ago. Classic example of illiquidity.
Liquidity in markets describes how many bids/offers there are on each side of the market. If you want to sell something, there's always a bid; if you want to buy, there's always an offer. This is what the market makers do, provide liquidity.
In 4 minutes Bitcoin falls 2.6% followed by a 3.7% rally in the following 5 minutes. Glaring example of a thin, illiquid market.
Fun to trade though, that's for sure.
I managed to "rm * .exe" and delete a week of work while trying to port some C code to work on Windows.
Put the steps I took to recover them using PhotoRec here:
If anyone is ever stuck trying to recover rm'ed files, that may help.
*will migrate that article elsewhere later, but for now, it is ^^
Excellent opinion piece.
Say what you will about the US Fed being behind the curve to raise rates, the ECB is even worse off.
ECB holding rates at zero while Germany year-over-year inflation shows almost no signs of stopping. Germany's inflation data is perhaps the worse of the established economies within the EU due to their self-made energy crisis, so this is cherry-picking somewhat. But the point stands: something's gotta give, and the ECB doesn't seem to be moving.