Trump 100% right about Bitcoin scam


More Bitcoin voodoo today. What does it say when Donald Trump becomes the voice of reason?

He went on to say that it ought to be “highly regulated”.

Outlawed is my preference. It’s nothing more than a worthless private currency swindle made on the principles of regulatory arbitrage.

Meanwhile, we get more voodoo:


The world’s largest digital currency has slumped, pushing its average price over the last 50 days close to its 200-day moving average. Should the short-term line cross below the long-term one, the coin would reach the forbidding formation. The indicator is typically seen as a closely-watched technical measure that could offer a hint at more pain to come.

Honestly, how did humanity come to this impasse of an absolute waste of everybody’s time and money?

Just ban it already.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.