Hyperinflationary Hell, FOMC, ApeCoin, META & FNGU
Lebanese Central Bank Devalues ‘Lira’ By 90%
Headline today:
Hyperinflationary Hell: Lebanese Central Bank Devalues ‘Lira’ By 90%
“Can’t happen here”, you say? Already has:
Friendly frequent reminder - only gold is money, and Federal Reserve banknotes are an unbacked and unlimited scamcoin.
With no respect to the Fed, as is due, today was certain to be a nothingburger with more hot air bluster amounting to even more nothing. And it was, as per usual.
To be charitable they went as far as they could, which is to say as far as debt markets would allow. Powell is akin to a mouthy wannabe tough guy in a bar pretending he’s really gonna get up off the stool to settle things, instead only offering some vague made-up excuse comprised of cooked data before settling back down.
Same thing every single cycle, and this one is no different.
Today’s was the last rate hike, barring a “black swan” event pushing real rates substantially higher before the next Fed kabuki on March 22.
Here’s a look ahead to that announcement:
In 2022 people learned a hard lesson in tech bubbles bursting. Those with a front-row seat 20 years ago were not surprised, having learned to be positioned heavily short.
I’ve written before about 20-year cycles here. 20 years is roughly the time it takes for a person to mature - at least legally.
80 years is roughly a lifetime. That’s four 20-year cycles. Exactly long enough for anyone who lived through it to be gone, or ignored as a clueless ancient relic.
Doomsday Clock now set at 90 seconds to midnight - closest we've been to apocalypse
Just a thought:
Understanding cycles, and having developed technical timing signals that work, while everyone was panic selling in late 2022 I was covering and going long.
Today FNGU closed up 88% in less than a month since I nominated it my “one and done” for tech, up 67% since I noted “Tech / FNGU Super Bullish News” 3 weeks ago, and up 92% at the high.
Coincidentally, as I was writing this post:
Meta Explodes Higher On Solid Beat, Massive $40 Billion Buyback Boost
META (formerly Facebook) was up over 4% today, and another 20% after the close.
I was specifically bullish Meta recently (link above). It’s already 37% higher.
META is 1/10 of FNGU, and FNGU is up another 10% in evening trade. That’s up 106% since I first suggested it, making it the 2nd double already among my few ideas offered so far. The first was MARA, which has gained as much as 134%.
I’m no tough guy, so am happy to exit before the trouble starts.
At the open tomorrow I’m scaling FNGU back to 1/2 its original dollar value, leaving me with a very fat profit in hand and an effective cost base of less than $zero.
Tomorrow after the close is Amazon’s Q report and if another spike higher occurs I’ll scale FNGU back to 1/3 and let that ride awhile, as people are back to pouring money into tech fantasies.
“Tech fantasies” may seem like a clever segue into crypto, but no.
Bitcoin is as high as 24250 this evening. My initial chart target has been 24500-25000.
Close enough
I’m scaling MARA down to 1/4 its original value and withdrawing ApeCoin staking rewards to a “stablecoin” token or cash, at least until things settle.
ApeCoin is up 42% already, or 52% if staked. Speculated amount in ApeCoin will remain equal to the position’s opening dollar value, and staked.
Here’s the original post on ApeCoin and MARA.
At this rate I’ll soon be shorting stocks and quoting “Run To The Hills”, but for now…
The mad men play on words
And make us all dance to their song
To the tune of starving millions
To make a better kind of gun2 Minutes to Midnight - Iron Maiden (1984, when “1984” was still fiction)
I followed your FNGU path and profited accordingly. Great call… Thanks Bruno!