MAD Macro - Ayatoldyaso
Ayatollah, I A Told Ya, No Nukes
Kool-Aid Mike, $21 million in 21 Years
Trump goes bunker busting. Peace through strength. Bunker busting bombs are definitely a show of strength. Now we need the Iranians to surrender and allow peace. I wonder what Jake the Snake Sullivan is thinking. Appeasement is out and bunker busting bombs are in. It’s interesting to see the Democrats trying to find fault in what Trump is doing. Unfortunately, he is winning. Trump winning is not what the Democrats want. Especially if it’s Trump and Bibi saving the Western world. I get it, they hope Trump fails. In reality, they believe Trump will die of a Diet Coke overdose. I guess it’s possible, but for the moment Diet Coke is running the world. Trump never seems to sleep, it must be the Diet Coke. RFK is definitely confused. He is wondering how the hell does Trump run the world drinking Diet Coke.
My favorite bitcoin promotor, Kool-Aid Mike, has a new forecast, bitcoin $21 million in 21 years. Ok, so bitcoin is going to be trading $21 million by 2046. Let’s just think about that for a minute. If we all buy bitcoin now and do absolutely nothing for the next 21 years, like Rip Van Winkle, we will all wake up rich and our children’s children will never need to work. No need to build anything, invent anything or contribute to the advancement of mankind. Hell yes, just buy bitcoin now. HODL bitcoin, like Buffett HODLED stocks for the last 21 years. Buffett even HODLED Diet Coke. Kool-Aid Mike has drunk the Jimmy Jones Kool-Aid. Bitcoin is the answer to everlasting life and wealth. Just drink deeply from the chalice of bitcoin.
I went to a wedding last weekend in some place called Palisades Tahoe. I had never heard of Palisades Tahoe, but I assumed it was near or on Lake Tahoe. As we are driving in, I realize this reminds me of a lot of Squaw Valley, CA. I am thinking, wait just a minute, they really changed the name of an iconic ski resort. Apparently, they now use either Palisades Tahoe or Olympic Valley. Neither name does justice to the history of this great and historic ski mountain, Squaw Valley. I mean, it’s the sight of the original Miracle on Ice, the 1960 Olympics, and very scary chair lifts, like KT-22. Anyway, the Washoe Tribe commended the name change which was made in 2021 during COVID. Maybe the name Palisades Tahoe will someday command the respect that Squaw Valley once did. Or, maybe fifty years from now, no one will know that the Washoe Indian tribe ever existed.
It was interesting to watch the markets’ overnight reaction to Trump’s bunker busting Saturday. It was classic George Costanza, climbing the wall of worry. Markets opened lower and recovered. Democrats might be upset that the markets believe Trump and Bibi are winning and saving the West from China, Russia, Iran and North Korea. But that’s what the markets are saying this morning. Even crude oil only rallied for a few hours before settling back to unchanged. It looks like Iran has been defeated. The NYT and Thomas Friedman are shocked. Reading today’s NYT, it almost seems like they are rooting for Iran to strike back at Israel and the U.S.
Markets are close to unchanged this morning. The dollar is higher and bitcoin is lower from Friday. Jay Powell testifies this week in front of Congress. It would not surprise me if Trump names a successor before he testifies just to put more pressure on Jay to ease.
I updated the U.S Dollar Index, U.S. 10yr yield, U.S. 10yr-2yr yield spread, WTI crude oil, NY copper, spot gold, NYSE Arca Gold Miners Index, bitcoin, Strategy, S&P futures, NASDAQ 99 futures and DOW futures charts below.
The dollar is higher, testing the 50 day resistance level. Interest rates are slightly higher.
Crude oil is unchanged after making new highs on the opening last night. Copper is a little lower and gold is unchanged, what war? The NYSE Arca Gold Miners Index should open unchanged. Bitcoin is lower from Friday but higher from yesterday when it traded below 100,000. No worries, bitcoin will be $21 million in 2046, Kool-Aid Mike says so. Strategy is due to open lower.
S&P, NASDAQ 99 and DOW futures are close to unchanged this morning. What war?
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