1. Kyle Bass spoke to Bloomberg about China’s issue with WMP’s and how it’s on a scale way more massive than the GFC, approximately 5 times larger than it. Commodities are currently blowing up and the Shanghai exchange is following cue. This might actually be the bear that shoves the bull off the cliff.
2. The second interesting development is the Japanese frenzy into Bitcoin. Japan is pushing for digital currencies and is actually dropping the 8% consumption tax in July. However, even with the 8% tax in place, JPY makes up more than 50% of trading volume in the past 24 hours. I bet you either couldn’t care less, or you are completely flabbergasted at the sheer volume and interest in BTC coming out of Japan. I know I am the latter. $200 USD up in 4 days is no joke.
Needless to say that a smack in broad …Read the full article →