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

Meet the New Grill, Same as the Old Grill

I went out and bought a new grill; it's a Weber, just like the old one, except that it has plastic handles and isn't a broken down old wreck.

I fired the shiny new grill up this evening, after church. Did it work? Sure it did, and I reckon Weber Kettles are worth every penny, especially if your idea of cooking is mostly about putting meat on fire.

But here's some food for thought. Do negative interest rates signify an essentially worthless currency? Fiat forever.

Grill on,

LSP

Devil's Advocate

Maybe you think everything is just fine, and all we need is some more diversity training poetry workshops to make our very own modern utopia. But what happens when the money, and the credit, runs out? Reflect on this:

It looks as though they’ve got the perfect hustle going. They create money to buy their own debt.

You can read it all, at ZeroHedge.

Cheers,

LSP

From Here To Qeternity

descent of the damned

Acting in solidarity with those unfortunate enough to have money deposited in Spanish banks, I decided   to cash out my spare change box, while the pennies, nickels, dimes and quarters it held still had some kind of value.

LSP savings and loans

I'd use that money, I figured, to buy some epoxy and blue tape to bed the barreled receiver of my Lee Enfield Mk. III sporter. But quickly! Before tape and steel putty cost a bergan full of worthless magicke currencie.

With a sense of fiscal cliff urgency I drove to the local supermarket, box of change in hand, and loaded it into Coinstar, which turns your metal money into a redeemable IOU, for a fee.

how much does it cost?

I didn't care about the fee. I just wanted the money, fast, while it could still buy something. So I emptied the box into the machine. Clang, clunk, went the cash. $53.65 went the Coinstar, on its screen, and then it stopped working. "Sorry, I've seen your money, but I can't give it to you," stated the mechanical thief.

"Customer Service" was no use because the talent was busy talking to a policewoman about a picture on his CCTV (close circuit television) and I began to panic. Would I ever get my money? Will I get arrested for asking? I got the cash and avoided prison, in the end, and by some miracle Coinstar Currency still had fractional buying power.

oh. dear.

But don't worry. If we print enough money then everyone will become rich!

Just like in Rhodesia Zimbabwe.

LSP

Greece Tanks

Everyone will have noticed that Europe's fiscal policy, and by extension the value of our own fiat currency, is going extremely well, which is why there are absolutely no runs on banks anywhere -- especially not in Greece and Spain.

ZeroHedge refers us to Thucydides "in the vain hope that those who have blindly pursued the policies which have brought Greece to the brink and risks plunging the whole of Europe into the abyss, might consider more keenly the consequences of their actions and change course before it’s too late."

You can read the whole thing here.

What was it that Germany's evil dictator said before Kursk? "When I think of this battle my stomach turns over."

Have a blessed Feast of the Ascension.

LSP

Scorcher

Incredibly hot, something like 107 by 10 am this morning, but that didn't stop a drive over to JB's new pasture and a ride.


A few months ago she would have regressed back to being flighty, hard to catch and generally difficult, which was what I expected.

Not at all; JB was easy to catch, saddle, bridle and ride. We got up to some simple walk, trot, canter exercises until the heat got even more searing than it already was. So I was pleased with that, had a good shoot afterwards too, never mind the heat.


On a less sanguine front, unless you happen to be a gold investor, is this (from the Daily Telegraph via Drudge). It's a statement from Peter Hambro, chairman of the U.K's biggest gold listing:

"One of the big US banks texted me today to say that if QE3 actually happens, we could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money."


We're all doomed.


Stay on the horse.


LSP