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This is Bitcoin shrugging off China's recent ban....

Binance has until Wednesday to confirm it has complied and removed its advertising. - Financial Times, London

"While we don’t regulate cryptoassets like Bitcoin or Ether, we do regulate certain cryptoasset derivatives (such as futures contracts, contracts for difference and options), as well as those cryptoassets we would consider ‘securities’ – find out more information. A firm must be authorised by us to advertise or sell these products in the UK – check our Register to make sure the firm is authorised. You can also check our Warning List of firms to avoid. You should do further research on the product you are considering and the firm you are considering investing with. Check with Companies House to see if the firm is registered as a UK company and for directors’ names. To see if others have posted any concerns, search online for the firm’s name, directors’ names and the product you are considering." Consumer warning on Binance Markets Limited and the Binance Group

Bitcoin is the new gold, but much more portable. - Ricardo Salinas

My bank & I are working to be the first bank in Mexico to accept - Ricardo Salinas

Bitcoin has a long track record of consistent positive growth since its inception, compounding 200% per year—only once was a lower low than the previous year’s made.

That’s a bitcoin price of over $500,000

RIP Johnny. Thank you for saving lives. “He did not hesitate; he didn’t stand there and think about it. He totally heard the gunfire, went to the door, saw the shooter and immediately ran in that direction. I just want to make sure his family knows how heroic he was.”

Bitcoin fixes this.

Bitcoin is too important to fail

Biden's $600BN infrastructure plan takes the total of global monetary & fiscal stimulus to $30.5tn past 15 months, an amount equivalent to entire Chinese & European GDP’s: BofA

While the Fed has bet what little credibility it has left on the benign meaning of "transitory" in setting its monetary policy (no rate hikes until 2023 by which point inflation will be in the double digits) and today's UMichigan commentary echoed the Fed's cheerful sentiment, predicting that soaring inflation won't last long, with Consumer Survey economist Richard Curtin writing that "year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, [as] consumers believed that the price surges will mostly be temporary", one of the most respected Bank of America strategists just crashed the "transitory" party, and in a note published today, BofA Chief Investment Strategist Michael Hartnett wrote that, far from transitory, soaring US prices may last up to 4 years. Observing that US inflation averaged 3% in the past 100 years, 2% in 2010s, 1% in 2020, and is "annualizing 8% thus far in 2021", Hartnett writes that it is " so fascinating so many deem inflation as transitory when stimulus, economic growth, asset/commodity/housing inflations (are) deemed permanent." As a result, Bank of America sees "US inflation firmly in 2-4% range next 2-4 years" consisting of "asset, commodity, and housing inflation." And even though the Fed may have staked its reputation and credibility on keeping the current ultra-loose regime until well into 2023, Hartnett predicts that "only a market crash will prevent global central banks tightening next 6 months." Hartnett then lists the various factors that form his hawkish view starting with the fiscal policy bubble, writing that the latest Biden infrastructure plan ($600bn new spend) "takes running tally of global monetary & fiscal stimulus to $30.5tn past 15 months, an amount equivalent to entire Chinese & European GDP’s." Just in case there is any confusion why despite millions still unemployed, consumer spending is now far higher than it was before the covid pandemic.

... BofA chief equity strategist Savita Subramanian summarized the current state of affairs as follows: "On an absolute basis, [inflation] mentions skyrocketed to near record highs from 2011, pointing to at the very least, “transitory” hyper-inflation ahead." Needless to say, a "serious" bank warning of hyperinflation - transitory or otherwise - was enough to spark very serious concerns that the Fed was losing control of prices, a panic which only grew after Deutsche Bank joined the chorus, earlier this month when it warned that inflation was about to explode "Leaving Global Economies Sitting On A Time Bomb." Of course, BofA had left itself a loophole, the same loophole used so generous by the Fed as often as several times each day: after all the definition of transitory is fluid, and could be as short as just a few weeks, making the coming period of pain somewhat manageable.

Calling "markets" markets is beyond a farce

Banks might get angry, but they didn't take care of 70% of our people. - El Salvador President @nayibbukele