Market Update – Altcoins get destroyed as Facebook may enter scene, gold and platinum on sale, global mouthpieces warned us about tighter Fed money policy

I have uploaded a Markets podcast for August 13, 2018. Click here to go to the show archives page to get the links to the articles discussed and to listen, or you can listen on the link below.

-The head of Facebook’s blockchain division resigned from Coinbase’s board last Friday. It has been straight down for the alt-coins as many will go away when FB comes out with their crypto. BTC still has a place. The $6,000 BTC level will eventually give way as the bulls are furiously defending that Maginot Line.
-Pace of technological advancement in the crypto sphere is too slow and in order to get the blockchain as an underpinning of a future monetary system, a centralized management scheme needs to be implemented – and will be. Decisions will be made much more quickly, rather than by consensus of coin miners. They will be made unilaterally, much to the chagrin of the libertarians and those who lost their life saving buying into the crypto scam.
-Gold and platinum on sale and I added to physical at $1,200 and $800.
-Oil came back after a brief hard selloff. I added to a couple oversold P&Es
-It is the interest of National Security for the US to produce as much oil as possible domestically
-The problems in the emerging markets are to be expected as the tighter US Fed policy is a direct cause. The globalist mouthpieces warned us of impending hard unwinding. Bernanke, Greenspan, and Yellen all told us early this year that things could become unglued. The EMs are always the first to get hit.
-Analysis of Turkey’s situation. Just a corrupt and inefficient government falling victim to the Fed unwind. Perhaps Erdogan should listen to the globalist mouthpieces.
-Erdogan and Trump following script to drive a wedge between secular Turkey and the US and drive it into the arms of the Soviet/Sino alliance. I think of Ezekiel 38-39.
-The USFed needs to raise rates, but it must keep the Fed funds rate low as it battles the shorts on the long-end of the yield curve. The Fed is keeping accommodative policy not because they think the economy is weak, but because they cannot tell us they are working with the US Treasury in the futures market to keep the 10-year yield below 3%.
-Armstrong screaming we need a currency reset. Do we? You can pay $10,000/yr for his services. He has a whole lot of fear to sell. Even if we get a “currency reset” or whatever garbage he is proposing, what does that mean? We had one in 1944 and in 1985 and the average guy on the street saw barely a thing.