Saturday, January 30, 2021

The Doge

 


People are wondering if the US Dollar, the world's reserve currency, is worth all it's cracked up to be. It's backed up by the "full faith and credit" of the US government but what's that worth? 




Maybe not so much. How much is your Dollar, which is nothing more than an IOU at interest to the privately owned Federal Reserve Bank really worth? Good question, which is why the dollar's short and savvy investors are flocking to Dogecoin. Yes, Dogecoin.




Dogecoin is a crypto currency with infinite upside, like any other fiat currency, but unlike the busted US dollar it's got a cute picture of a Shiba Inu dog on its face, as opposed to Harriet Tubman or Alyssa Milano. It's also really cheap, like Bitcoin used to be, coming in at $0.030 at the time of writing.




So let's cut to the chase. You maybe can't afford the amazing and brilliant $GME right now because it's trading at a sturdy Hedge Fund killing $328 and set for a Mars shot on Monday, or not, but you can get in the "stick it to the Man" action by going Doge. And hey, it doesn't even cost anything. Minimal downside, infinite up. 




As it is, the attractively Shiba faced crypto's risen over 500% in the last month and set to go higher if Elon Musk has anything to say about it. “One word: Doge,” tweeted the billionaire back in December. Diamond hands? Maybe, let's see.




In the meanwhile, buy the dip, don't eat it and let's take this lovable crypto to the MOON. Not that this is financial advice, I'm just an LSP who lost all his guns in a catastrophic boating accident.

Your Old Pal,

LSP

13 comments:

Ed Bonderenka said...

My son joined Robinhood in December.They gave him one free stock. AMC.
Didn't look bad, so he bought 29 more and watched it go down.
Held it thinking it would eventually go up.
He had no idea......
Watched Watter's World tonight where they thoroughly dissed Robinhood and watched a commercial for it come on a few minutes later :)

LL said...

At least DOGECOIN is backed by buried bones. That's more than backs up your dollars.

JoyDB said...

You're on a roll tonight, LSP!! Funny - albeit VERY crazy!! - stuff (just right for a Saturday night and "home alone!").

Kid said...

LOL.

Yes, but what is the dollar worth as compared to the looney, the kroner, or the yuan, let alone the ruble or now ever popular Nothing money?

I recently read where some dude had $230k in bitcoin but forgot his password and only had 4 more tries out of the max 10 before his $ went up in smoke. Not that I'd lose track of my password but I'll pass on this fun game.

RHT447 said...

Wisdom.

https://www.youtube.com/watch?v=JEz8IXWOdi8&feature=emb_logo

LSP said...

Ed, well done your son.

HOLD THE LINE.

LSP said...

LL, one of the great things about the debt instrument that is the dollar is that it's backed up by the full faith and credit of USGOV. Pan to Pelosi, Biden, Kamela and Mittens Bernie.

Hahahahahahahaha.

BUY DOGECOIN. SEND IT TO THE MOON.

LSP said...

Glad to lift the spirits, Joy!

LSP said...

Kid, crypto, like math itself, kinda illudes me. Like, how is this worth anything? At all? But apparently it is, in US dollars to boot, curiously.

OK, that said, I reckon I'll buy some $DOGE just because I like the adorable Shiba :) And yes, obviously, I the stock itself. What great coins.

But let's see how this multifaceted raid melts up, or down. Speaking of which, smart people are going long on shorts, notoriously blowing up hedgies in the process, nice, AND they're shorting hedgie "VIP Basket" longs as our rulers liquidate awesome stock like Apple, Walmart etc to cover their blown up positions.

Smart play, eh?

But I'm just a lowly spectator and know nothing. Fun to watch tho.

LSP said...

I love that video, RHT, a lot.

Thanks for that -- good perspective.

Kid said...

$DOGE at .02-.03 might be worth planting some lottery mad money. Wouldn't touch anything going for more than that.

Yea, the harder they hammer the wall street guys the more retribution may come down later. But what the heck.

LSP said...

Totally agree, Kid. Note -- $GME's holding in the 200s, despite short ladders etc. This says, to me, that ppl are holding and there's plenty of shorts left to cover. Will some of the latter blow up tomorrow or is this a rolling train wreck or both? Let's see.

Regardless, I bought some $DOGE at .03, just for kix and with a view to starting a trust fund for Blue :)

Now, if I had some spare cash, which I don't, I might be thinking about physical silver. Hmmmm.

Cheers.

Kid said...

Saw a blurb the kids are about to attack the silver shorts next. Talk about folks that need a good swift kick it's gold and silver big cats.

Knew a guy that knew a guy though that put everything he had into silver under 10 and sold it all at the high near 50 not too long ago. Hard to do that without some kinda inside winks and nods.

Good Luck sir.