The Old Man’s Views
With the world going to shit, let’s keep it light-hearted this week
Lenin said, "There are decades where nothing happens, and there are weeks where decades happen". For a political junkie like me, the past few weeks have been full of happenings.
Kim Kardashian got a fine for doing what everyone else does?
I know nothing about the woman, other than she became very wealthy because she has a large bottom and a stepfather who wears dresses.
I don't know too much about the current rules of giving out investment recommendations because it appears anyone on social media can issue them and does issue them. So, if there are rules, they do not seem to be imposed.
The Kardashians appear to have inspired a generation of wannabe influencers, and thousands of wannabes are giving out all kinds of unqualified investment advice. No one in Crypto can deny this.
Getting a fine because you didn't declare you got paid to give advice doesn't make sense anymore, so why did she get one?
I have always been critical of much of the noise in the investment world, especially crypto, and have not been overly impressed with the quality of the advice I see on the MSM and social media platforms.
But from my point of view, this is how things are today. It's a matter of letting the buyer beware!
Anyone who thinks a celebrity will give investment advice for free is crazy. And I would venture to say, anyone who follows investment advice from some fat-assed Bint, who became a celebrity purely because she is a fat-assed bint, needs their head examined.
But in our world, where no one is responsible for their actions, anything is possible.
I would like to know when it will be possible for the general public to start suing the government for all the bad advice, they have given us over many decades because they have cost society much more than Kanye West's ex-bit of fluff!
Talking of bits of fluff.
It's great to see Miss Melons win the Italian elections. Being an anti-EU conservative, I am a big fan of this single mother.
The progressive media is in an uproar, and the usual accusations are doing the rounds just because she is right of centre.
In a world of Progressive BS, we need conservative policies if we are going to halt the continued decline of the western world.
The coming year will be financially difficult for many people, and we need a few countries that will go against the current direction and lefty policies.
Let's give her a chance; she might do a better job than many think.
Similarly, the UK has Liz Truss, and things seem to be going OK even though the messages have been less than clear.
In a few short weeks, we have had fiscal tightening, fiscal expansion, and a lowering of taxes, followed by a complete U-turn on reducing tax on the successful. God Knows what will happen next!
Sterling took a nose-dive after the Truss government announced its mini-budget, and immediately the media jumped on this knee-jerk market reaction, looking for conservative blood.
I would not be in too much of a hurry to sell the UK short at the moment. And the action of sterling since her budget announcement caused the sell-off suggests that the UK may fare better than many are forecasting.
There appears to be a move towards more conservative values global. (Against all expectations, Bolsonaro is still in with a shout of keeping his job in Brazil) I think this will be the way forward, giving us all a glimmer of hope for the future.
I am not overly convinced, but I am happy that Gold appears to be holding, and the small amount of BTC I have bought is not doing too bad so far.
This week I have mentioned politics more than I have about the markets because politics is the only game in town.
We have inflation and increasing interest rates, and no government will turn our economy around overnight. So, we must be cautious about how we structure our wealth and approach the markets.
I know many are working on blockchain and crypto projects, and whilst the innovation and development in many areas are solid, the valuations are all over the place.
I have opted to maintain a safe stance and be more defensive than most. However, over the coming month or so, we could see a few products in the crypto space and commodities offering us a decent return, especially foodstuffs.
I can't afford a million-dollar-plus fine, so you will not receive outright recommendations from me.
But as always, if I see something that's worthwhile, something that looks worthy of investigating, I will include these thoughts in future reports.
Until next time..