I think much disguised / camouflaged, hidden / stealth-ed, or otherwise deadened by shift from bonds to stocks per the money has to go somewhere
The narratives cannot be all-correct
If the interest rate truly rising and then remain risen, the empires are done
If interest rate doing stealth real rates remaining nirp / zirp, then the migration from bonds to stocks is correct per Armstrong scenario, that confidence in government is done-done
If stocks rising for good reasons ala money-has-to-flow-somewhere, then we address the question of “where?”
BTC for sure, but tiny allocation, as most holders are holders, and new money into BTC relatively small even as splash in small pool very splashy
Meme stocks? Check
Nasdaq? Check
Now old line industrials and whatever considered “value”? Happening, check
Growth stocks? Check, relative to bonds, even if not relative to value and BS value
Commodity stocks? Check, unless gold and silver
Did BTC detract from gold & silver? At the margin, likely; wholesale shift? doubtful
BTC certainly deadens the pain of GLD and SLV, and BTC mines obviously better than gold and silver mines. Either BTC space should buy the GLD / SLV space, or the other way around. BTC is modern. Difficult to see TSLA announce “we are using gold as our treasury cash”.
Anyways, sold more GLD puts at 160 level. DRD behaving well. SBSW remains fine. Ex-dividend SBSW coming up and DRD pay-day in a few days. No one likes yields.
People want to be paid in BTC. There is an idea for Musk and Saylor, to boost TSLA / MSTR shares, announce merger, and declare henceforth dividends shall be paid in BTC. Acquire a BTC mine, and juice up w/ TSLA power system, w/ all cars intelligently hive-minded using MSTR software development and BTC i-bank. Buy global auto industry and shut it all down, replace w/ Tesla, BTC enabled. Every car sold is another BTC miner. |
