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Bitcoin shoots to $44,000 as US inflation hits 7% in December

The United States Consumer Price Index data shows that inflation hit 7% in December 2021, climbing 0.5% month over month. The price of Bitcoin reached nearly $44,000 upon the news.
The latest figures from the United States Bureau…

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The United States Consumer Price Index data shows that inflation hit 7% in December 2021, climbing 0.5% month over month. The price of Bitcoin reached nearly $44,000 upon the news.

The latest figures from the United States Bureau of Labor Statistics show that the Consumer Price Index (CPI) hit 7% in December 2021.

Bitcoin (BTC) was volatile prior to the announcement, fluctuating by over $2,000 from lows of $41,000 to $43,000 on Wednesday. Upon release of the figures, the price continued its upward climb, touching $44,000. 

Prior to the announcement, Twitter was rife with speculation. According to a Twitter poll, 53% of Coin Bureau’s 580,000 followers had expected the CPI to overshoot the consensus estimation of 7% inflation.

Macroeconomic specialist and cryptocurrency soothsayer Lyn Alden was on the money.

The graph for inflation from the Fed over the past 10 years is eye-opening. Since the pandemic, marked in gray, the inflation level plummeted before beginning a dizzying climb to 7%.

Related: Bitcoin crash ahead? Expert warns higher inflation could whip BTC price to $30K

Castle Island Ventures’ Nic Carter was more tongue-in-cheek prior to the data update. In anticipation of more inflation rises, he joked that he was “looking forward to the inflationista cope if CPI prints double digits.”

Inflation rates have become of paramount concern to developed countries around the world, but particularly for the United States. Seven percent is the highest inflation rate since the 1980s. 

Traditional markets such as the S&P kicked off in the green, up 0.36%, while BTC was up 2.8% during the action.

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Luongo: We Are All Djokovic, Now!

Luongo: We Are All Djokovic, Now!

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

When I’ve talked in the past about the patchwork tyranny post COVID-9/11, I had more mundane things in mind than the fate of a major tennis star.

Novak.

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Luongo: We Are All Djokovic, Now!

Authored by Tom Luongo via Gold, Goats, 'n Guns blog,

When I’ve talked in the past about the patchwork tyranny post COVID-9/11, I had more mundane things in mind than the fate of a major tennis star.

Novak Djokovic was deported from Australia on Sunday after his appeal to reinstate his visa failed. And it failed not for health reasons but for political ones.

To me, the kinds of terrible rules put in place for ‘public safety’ always conjure up images of casual oppression. Endless videos of pathetic public servants intimidating priests in churches or police arresting pub owners for serving willing patrons.

But it goes far deeper than that. It’s impossible to even conceive of the ways petty bureaucrats and middle managers around the world have destroyed the lives of ordinary people simply trying to get through the day because of a flu.

Since the beginning of the COVID-19 insanity Australia has been the poster child for this kind of thoughtless crime against common decency.

Australian Immigration Minister Alex Hawke’s decision to revoke Djokovic’s visa was made for political reasons. He didn’t try to hide it. If anything, he was proud of this decision.

Hawke said he accepted Djokovic’s recent Covid-19 infection meant he was a “negligible risk to those around him”, but that he was “perceived by some as a talisman of a community of anti-vaccine sentiment”.

“I consider that Mr Djokovic’s ongoing presence in Australia may lead to an increase in anti-vaccination sentiment generated in the Australian community, potentially leading to an increase in civil unrest of the kind previously experienced in Australia with rallies and protests which may themselves be a source of community transmission.

“Mr Djokovic is … a person of influence and status.

“Having regard to … Mr Djokovic’s conduct after receiving a positive Covid-19 result, his publicly stated views, as well as his unvaccinated status, I consider that his ongoing presence in Australia may encourage other people to disregard or act inconsistently with public health advice and policies in Australia.”

These are the words of the committed totalitarian. He hides it behind his public responsibilities, in this case the health status of an entire nation. If he’s not being controlled by outside forces (yeah, right) then he’s been infected with that dangerous solipsism which comes with this much raw power.

That corruption cannot be avoided.

But Hawke’s decision stems from Australia’s backing themselves into the corner over COVID-9/11 policy. They cannot be seen as backing down for anyone, especially someone like Djokovic.

To do so, as Hawke points out, would invite questioning the policy. And their policy is sacrosanct.

However, having admitted that Djokovic posed almost no threat of spreading COVID-9/11 the only thing at stake was the Australian government’s power.

This type of decision reveals 1) how deeply unpopular the COVID-9/11 rules are in Australia and 2) how weak the Aussie government’s hold over its people really is.

They could have weathered this if they had just quietly let Djokovic into the country to compete. They could have spun it had they wanted to.

They chose escalating the standoff to make an example of him to the unvaxxed population. There is no hope. You will submit. If we can humiliate Djokovic, just imagine what we can do to you.

And they revealed just how desperate they are.

Bureaucrats like Hawke have no sense of the politics of their decisions. They are order-takers, not order-makers. He was ordered to do this. When this standoff started it was during the height of the big push to drive fear over the Omicron variant of COVID-9/11.

That rollout failed spectacularly.

Omicron has flared up and out so quickly this affair now looks like the most insane application of government paranoia this side of Pyongyang.

Those that started this standoff created the mess and didn’t have the sense to clean it up.

Because they insist on building trailer parks in the face of a Cat-5 hurricane of public anger.

They hoped to send the message that no one can escape the jab. The Davos agenda of health passes and total technocratic control is inevitable. It’s the EU variant of the virus which Hawke’s immigration policies couldn’t stop coming to Australia.

What they wound up with is a whole lotta people shaking their heads.

But, don’t think for a second Australia is done sending messages to the untermenschen. Now, after he’s been deported, barred from competing and earning his living, Djokovic is liable for all the court costs associated with this decision.

Those costs are estimated to be $500,000.

The three judge panel that upheld the lower court ruling avoided any responsibility in the matter, neatly throwing the decision right back on Minister Hawke. Prime Minister Scott Morrison, clearly one of the people pushing this disaster behind the scenes, also left Hawke out to dry.

Next up for Djokovic will a standoff with France over the French Open. France and Davos will hound him until he submits because they think he cares more about his 21st Grand Slam title than he does his own health. It guess they didn’t get his message during the Australian affair.

But their message is very clear. We are in charge. We can make whatever rules we deem necessary. If you challenge them not only will we deny your challenge on arbitrary grounds but we’ll bankrupt you in the process.

And here I thought we in the post-enlightenment West could petition our governments over unjust laws. I thought this was the first world and not some tin pot dictatorship of thin-lipped, fat-headed midwits?

Only the most insane people are cheering this decision today. They are a part of the 29% of Democrats in the US who believe the unvaxxed should have their children taken from them. Sadly, there are still too many in the thrall of the COVID-9/11 mind virus.

But, if you didn’t get the message before the persecution of Novak Djokovic, I hope you get it now. And I hope he continues to be an example for the rest of us.

*  *  *

Join my Patreon if you got the message

BTC: 3GSkAe8PhENyMWQb7orjtnJK9VX8mMf7Zf
BCH: qq9pvwq26d8fjfk0f6k5mmnn09vzkmeh3sffxd6ryt
DCR: DsV2x4kJ4gWCPSpHmS4czbLz2fJNqms78oE
LTC: MWWdCHbMmn1yuyMSZX55ENJnQo8DXCFg5k
DASH: XjWQKXJuxYzaNV6WMC4zhuQ43uBw8mN4Va
WAVES: 3PF58yzAghxPJad5rM44ZpH5fUZJug4kBSa
ETH: 0x1dd2e6cddb02e3839700b33e9dd45859344c9edc
DGB: SXygreEdaAWESbgW6mG15dgfH6qVUE5FSE
AVAX: 0xAf2e0F22307269BE3d936d7E5DbCaEEe8a42e851

Tyler Durden Mon, 01/17/2022 - 20:30

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Freedom Is The Answer

Freedom Is The Answer

Authored by Jeffrey Tucker via DailyReckoning.com,

I’m now looking again at the polls of Biden’s popularity. They are shocking, even devastating.

We are looking at nearly a 12-point split between approval and disapprov

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Freedom Is The Answer

Authored by Jeffrey Tucker via DailyReckoning.com,

I’m now looking again at the polls of Biden’s popularity. They are shocking, even devastating.

We are looking at nearly a 12-point split between approval and disapproval. I’m assuming that the reality is much worse, given that everyone knows what one is supposed to tell the pollsters. They are not looking for disapproval. They are looking for compliance. That so many are willing just to say what they think is striking.

To me, these numbers represent far more than the unpopularity of one guy. They are but a sign — a slight one but one we can see — of something far more fundamental going on.

What we see here is a deeply dangerous loss of trust not only in government, but in everything, including tech, media, experts in general, and a growing cultural perception that truth is no longer accessible to us.

We are living amidst the rising of information chaos, the late stages of what Robert Malone has called mass formation psychosis. Where it ends up cannot be known in advance, but that something is coming and will hit us very hard is no longer in doubt.

I’m still astonished that all of this happened in a mere two years. We went from the feel of peace, prosperity and contentment to absolutism and chaos so quickly. Every time it has seemed like it was ending, there has been another round of awful.

And as I’m writing now, the nation is awash in sickness, despite all the measures, the vaccinations, the obsessions, the mitigations with masks and you name it. It has all failed.

What’s Next?

The pandemic will end as they always do: with the arrival of herd immunity. That stage becomes the point at which the virus is a normal part of life, breeding with other viruses and becoming normal and seasonal like any sickness.

My experts tell me that we are about a month away from that point in the Northeast, but that it has yet to make the rounds in the South, which could be facing a tough spring and summer.

Regardless, it comes to an end, with or without vaccination. What does not end so easily is the statism, the monitoring, the despotism, the urge to control, the rules, the threat that it could all happen again.

Getting rid of the pandemic is something nature takes care of. Getting rid of the pandemic controls and the urge to bludgeon people into compliance is a much harder task. It will not likely be accomplished by any political movement.

The answer is likely to be bound up with noncompliance. Many people are already there. They are done obeying. Many people have quit their jobs. They have moved. They have upended their lives in shocking ways. They have completely rethought their relationships to civic institutions and leaders. And they are ready for something entirely new.

The psychologist who is the world’s leading scholar on mass formation psychosis said something interesting in a recent interview. He is Dr. Mattias Desmet of the University of Ghent. He says that the answer is not merely to go back to the previous normal we used to enjoy. It was that old normal that set the stage for the upheaval. We cannot go back because then we risk repeating what we just lived through.

Instead, he says, the entire culture and all countries need to discover a new way of living and thinking, a new relationship with our civic leaders and a new relationship with each other. He declines to say precisely what that looks like.

I will say it, however.

Freedom Is the Answer

It must be rooted in the traditions of freedom. We need to learn to find happiness in human choice, tolerance and peace with our neighbors. We need to again find joy in work and fulfillment in prosperity and health.

That is a rebuilding exercise that will consume the dominant part of the rest of our lives.

It will likely have to take place in the midst of a growing economic crisis. Inflation might calm down a bit in the first quarter, but the money sloshing around the country and the world has to end up somewhere.

It will eventually convert to a much different price level that we have right now. All our savings are at risk. All the things we took for granted in the past could come into question as people look desperately for a way out.

What Can We Trust?

People masked up. They distanced. They curbed their social activities. They complied with the shots, one, then two, then the booster. They did everything right. And they got the virus anyway.

It is impossible to underestimate the implications of this for millions of people. They trusted the experts. The experts were wrong. Now people have to ask themselves what is next.

Above all else, this is going to be about regaining health. Eat right. Exercise. Get sun. Stop the junk food. Focus on fundamentals. Eat fresh things. Stay as stress-free as possible. Stop playing games with substances that are unhealthy. If we really do all intend to live past the age of 80, we are going to have to rethink many aspects of our lives.

In addition, some of the most astute cultural observers out there are predicting a widespread return to religious faith. Sadly, many of the religious institutions of our past acquiesced to the tyranny. They did not resist. They even preached compliance with practices pushed by Fauci and others, surrendering their leadership in the spiritual realm.

The ones that did not were the oddballs out there, the Amish, the Orthodox Jews and the independent evangelicals. They kept their integrity. They are likely to thrive in the future.

The Crypto Moment

Other institutions that sailed through this crisis will thrive as well. It is impossible not to notice that Bitcoin and associated cryptos paid almost no attention at all to the pandemic, to the shutdowns, to the crackdowns and controls. Blockchain applications continued to function beautifully, without a hitch.

Friends of mine are careful these days to put away as much as 20% of their paycheck into Bitcoin and other cryptos. They leave them there, not spending them unless absolutely necessary. They keep them in cold wallets, holding them and guarding them for the days ahead. This makes sense.

We once imagined that cryptocurrency would become the hand-to-hand currency that would replace fiat money. That day may be coming, but it is a very long way off.

The economic function of crypto has been in fact to serve as the safe haven in a world gone mad, an uncorrupted and incorruptible source of value that ignores the nation-state and the madness of political culture.

I never wanted to live in a world with mass loss of trust in everything that so many generations worked so hard for so long to build. But that is where we are. Now is the time for resilience and fortitude, and all the other virtues taught to us by the ancients.

Despite all our modern technologies and conveniences, in the end what will save us are not our gadgets, but our values.

Tyler Durden Mon, 01/17/2022 - 15:30

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From tuk tuks to COVID tests, YouTuber tests Bitcoin use cases across multiple countries

Under the handle "Paco De La India", the YouTuber said he planned to visit 40 countries, often using Bitcoin transactions to pay for everything he needed.
A YouTuber started a journey in September to see whether he could survive solely

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Under the handle "Paco De La India", the YouTuber said he planned to visit 40 countries, often using Bitcoin transactions to pay for everything he needed.

A YouTuber started a journey in September to see whether he could survive solely on Bitcoin as a means of payment while traveling to 40 different countries.

Speaking to Cointelegraph on Monday, YouTuber Paco De La India — or “Paco from India” — said though the spread of omicron had somewhat altered his original travel plans, he was still surprised at how many people had accepted Bitcoin (BTC) in countries where crypto was in a legal or regulatory grey area. Beginning his journey in the Indian city of Bengaluru, Paco sold his belongings in September 2021 and mostly relied on BTC donations to fund his trip — which, so far, has taken him across India, the United Arab Emirates, Thailand and Cambodia.

The YouTuber, who said he preferred to use non-custodial wallets and Lightning for BTC transactions, originally planned to visit 40 countries for 10 days each, but COVID restrictions had somewhat altered his itinerary. Paco is working around mandatory quarantines, the requirements of many countries that tourists stay within their borders for at least 14 days, and the additional costs for polymerase chain reaction, or PCR, tests.

Paco, speaking from Siem Reap, Cambodia

According to Paco, two people conducting his COVID test in India for travel to the UAE accepted BTC in lieu of fiat rupees without hesitation. In addition, he was able to negotiate with test takers in Thailand for a PCR test to travel to Cambodia. The YouTuber attributed part of the reason behind the acceptance of crypto payments to officials more concerned with verifying vaccine certificates than COVID tests.

“At the end of the day, it’s a piece of paper,” said Paco. “It’s just a piece of paper [for] which [there] is no way possible to verify. The only thing that they’re checking right now is the vaccine, because of the QR code.”

Related: Cryptocurrency Adoption: How Can Crypto Change the Travel Industry?

Though many countries have announced plans to verify the authenticity of COVID-19 test results using blockchain technology, there does not seem to be an international standard for immigration officials to recognize tests conducted in foreign nations. For example, travelers flying to the United States are required to complete a rapid COVID test within 24 hours of arrival, but not all health passport apps recommended by U.S. airlines can recognize theQR codes provided by foreign testing centers.

In addition to COVID tests, Paco said he had been able to survive on Bitcoin as a method of payment often by sheer chance, never forcing crypto on an unsuspecting party and surprised at how many random vendors were open to it. According to the YouTuber, he had been forced to avoid most public transportation in these four countries and use his debit card to fuel his bike, but was connecting with more people on the ground.

“Thailand is super crypto-friendly,” said Paco. “Cambodia is another [super friendly] place. UAE, it looks like that but I feel it’s just between the richest people.”

He added:

“I have changed my approach a lot. I’ve gone more from talking to the old people who have already lived their life to finding young people who are really tech-savvy [...] They’re really curious about [Bitcoin]. It’s always: They want to make money. Everyone just looks at Bitcoin as making money.”

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