On Wire

Breaking news, updates, and reports on current events.

Why are $RIOT and other bitcoin mining stocks overpriced?

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by pennyether I’ve spent the last week and a half researching bitcoin mining, looking at financials, purchase orders, equipment, making spreadsheets, etc. I don’t see any possible world where owning 10,000 mining units (and an order for another 25,000 to arrive by October) imputes a $1b+ valuation, especially when there will be close to 1,000,000 … Read more

US Treasury OCC will allow US banks to use public blockchains and stablecoins as a settlement infrastructure in the US financial system

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by sierratrading Breaking major news from US Treasury OCC, the largest US banking regulator, with new guidance allowing US banks to use public blockchains and dollar stablecoins as a settlement infrastructure in the US financial system. https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html    

Velocity of M2 Money Stock

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It means we’re in deflationary spiral. The only reason everything is still sort of ok in the U.S. is because the rest of the world is in the same deflationary spiral, and it is currently driving down the value of the dollar. In a debt crisis, you don’t want to be the country where your currency … Read more

As euphoria on Wall Street sends stock prices to astronomical heights, Main Street remains in crisis, with roughly 8 million Americans joining the ranks of the poor since June.

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https://youtu.be/3-_1OEW-lQw Now, our country is essentially divided between those who patiently wait for some food in breadlines – after losing their ability to provide for themselves and, oftentimes, the roof over their heads – and those who sit comfortably at their own homes waiting for the meltdown to be over while discovering the joy of … Read more

Patrick Byrne: CHINESE SHIPPING RECEIPT has been recovered among hundreds of thousands of shredded ballots in Georgia

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In the possession of DHS Atlanta. — Patrick Byrne (@PatrickByrne) January 4, 2021 Wait…do they literally have the receipts? Almost sounds too convenient, but honestly the entire last half decade has been “too convenient” so at this point anything is possible. Whole thread: A printing shop in Michigan prints ballots for Delaware County, Pennsylvania and as Lancashire … Read more

IPO list 2021

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by EasternBearPower Borrowed from our colleagues. Finance: Robinhood Affirm Coinbase Ascensus Better.com Stripe Marqeta Games: Roblox AppLovin E-Commerce: Poshmark Instacart ThredUp Coupang Enterprise Tech: Intercom DarkTrace UiPath Digital Ocean Gitlab Data: DataBricks ThoughtSpot Intapp Social: Bumble Nextdoor Consumers: Squarespace Coursera Petco      

Shorting $DXY in a deep recession is like standing on the train rail and believing a train will not run over you. The slightest sign of the economy contracting again and everybody will flock to the USD for safety.

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https://twitter.com/MFHoz/status/1346510338158718980 BANKRUPTCY FILINGS pic.twitter.com/edqTuHm4Wg — Win Smart, CFA (@WinfieldSmart) January 5, 2021 https://twitter.com/MFHoz/status/1346504241729433605 Deflation.https://t.co/dd40vJCPn0 — Tracy Alloway (@tracyalloway) January 5, 2021 https://twitter.com/MFHoz/status/1346505823380533255 #recession … #Fed Pushing on a String edition#CPI #deflation 📉 https://t.co/Cl9a1ZyvLf — Invariant Perspective (@InvariantPersp1) January 5, 2021 “If history is any guide, unless there is substantial reform, we think the global economy … Read more

Inflation expectation just broke out from a near-decade resistance… Gold breaking out

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So this happened today. Inflation expectation just broke out from a near-decade resistance. pic.twitter.com/K9VsF46PXY — Otavio (Tavi) Costa (@TaviCosta) January 5, 2021 Oil hits $50 a barrel for the first time since February https://t.co/LGuLhg9OFW pic.twitter.com/qmo0DOXsHp — Win Smart, CFA (@WinfieldSmart) January 5, 2021 BITCOIN VS. NASDAQ 100 pic.twitter.com/ciVjodRoYC — Win Smart, CFA (@WinfieldSmart) January 5, … Read more

Ohio Governor Dewine Signs ‘Stand Your Ground’ Law After Suggesting He’d Veto It

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Ohio Gov. Mike DeWine signed a “Stand Your Ground” bill into law on Monday, backing off his threat to veto the measure after Ohio lawmakers declined to pass his recommended gun control proposals. The Republican-backed bill, SB175, removes the “duty to retreat” requirement before a gun owner can use lethal force in self-defense. Legislators attached … Read more

The Uncensored, Real-Deal Guide to Bugging Out of the City

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by Fabian Ommar via The Organic Prepper The concept of bugging out is one of the most discussed and controversial topics in preparedness and survivalism. The term “bug out” comes from the military. It means retreating, fleeing in a hurry, abandoning position in panic. This definition applies to the act of bugging out in survivalism as well. For … Read more