Ponzi scheme hits Australian dollar record


Here’s the chart:

BTC does not appear to have much of a relationship with gold, though it could be argued it is still in the market share phase of development so the relationship would not be symmetric.

Recent ETFs will give that process, if it is such a thing, a boost.

For those wanting me to post more about the greatest ponzi scheme in history when it goes up, there you go!

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.