Taking Care Of Business

 

It was one of those days when you drive around the country taking care of business. First stop, the good old Pick 'n Steal, aka "Shamrock Filling Station," via the Meth Shack. The shack's getting fixed up, kind of, by some entrepeneurial Mexicans. Good luck, boys.

Then the Itasca grain co-op, I like that place, followed by post offices, banks, a realtor and all of that. Productive unlike, say, our incredibly popular president's economic policy. Which is... what?

Moar tax, moar debt, but less energy independence because higher gas prices make us all richer, except that they don't. And while we're at it, let's offshore yet moar manufacturing as we open our borders to millions of unskilled migrants. At least that last part drives down wages. Good work, Millionaire Socialists.

If you're thinking this train's coming off the tracks, you might have a point and perhaps that's why people are piling into crypto. Get your cash out of the clutches of the Scylla and Charybdis of central banks and their partners in crime, our governments.

That in mind, Bitcoin's at an all time high, the Peoples' Currency, DOGE$, is testing 0.30 (c'mon pup, run!) and LRC (Loopring) is exploding on rumors of a GME (Gamestop) partnership. No kidding, that token's up >1000% ytd and doubled in value in the last day. I tell you, it's the wild west out there and fortunes are being made and lost as we speak. 

Here at the Compound we're pleased with everyone's fave and original Shiba and jaw-dropped at LRC's surge, wish Blue had hit the buy button with his paw when it was .40. But still, can't complain, the annoyingly tech protocol, making for fast, cheap, secure DEX (decentralized exchange) transactions on ethereum is riding high at over 2 bucks a coin. Way to go.

Don't invest more than you can  afford to lose, kids. Biden Admin, take note.

Your Pal,

LSP

Big Crypto Clubbed Small Dog Barks Loud

 

Big Crypto, aka BTC and ETH took a clubbing last night, but not so much $DOGE, the world's popular and affordable electronic currency. That's only rising, and then some. Here's Zero on the reason for the furry little fella soaring into orbit:

 

But, while the major coins are suffering, the retail-frenzied 'GameStop effect' now seems to be spilling over to digital assets like Dogecoin and Ripple through r/Wallstreetbets’ crypto wing, r/Satoshistreetbets. Jay Hao, CEO of crypto exchange OKEx, told Cointelegraph that there is a deeper cause driving this current phenomenon:

“There is a great sense of injustice about some of the opaque practices of Wall Street and the unfair distribution of wealth. I believe that more and more of society is beginning to wake up to this fact particularly with the K-shape recovery that we are seeing in which high-net-worth individuals have increased their wealth during the pandemic. With more platforms allowing retail investors direct access to invest in equities, we are seeing a democratization of the investment space and more power in the hands of the people.”

Ben Zhou, CEO of cryptocurrency exchange Bybit, told Cointelegraph:

“The recent feats of r/wallstreetbets have made social media and Reddit users realize how powerful a force a decentralized online community can be when they put their mind to it. The ongoing legal troubles of XRP’s parent company Ripple Labs have rinsed out much of the shorts and made the gambit easier to execute, while the jocular nature of DOGE means it’s likable and easy to root for — thus in both cases there was not an immediate selling power to counter the pump.”

And combined with Elon Musk's recent "meme"-ing efforts, that has sent DogeCoin ripping higher...

Higher? Better believe it, with $DOGE hedgefighting against sell resistance in the .070s. My prediction, not that it's worth anything because I'm not a financial advisor and lost all my guns in a boating accident, is that this puppy's set  to run and play. It's left the runway and starting to fly. Moving on?

Buy dips, hold. Don't sell. That's the spirit of the age.

Your Friend,

LSP