In a day in which everyone, including the BIS, appears to be talking about cryptocurrencies after last week's China-induced crash, here is one of the more insightful takes on the future of cryptocurrencies, and how thay fit into the existing/legacy fiat system, courtesy of the latest Sunday note by One River Asset Management's Eric Peters.
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Anecdote
Even though the United States is on course to become "majority minority" by 2044, Statista's Niall McCarthy notes that the country still has a huge and growing racial wealth gap.
A new study by Prosperity Now and the Institute for Policy Studies has found that white households in the middle-income quintile own nearly eight times as much wealth as middle-income black earners and ten times as much as middle-income latino earners.
With the total number of Americans affected by a potential 'sonic attack' in Cuba now reaching 21, US Secretary of State Rex Tillerson says the Trump administration is considering closing down the U.S. Embassy in Havana following unexplained incidents harming the health of American diplomats.
As one former CIA official says: "It's just mystery after mystery after mystery."
Via The Daily Bell
And the award for most misleading headline goes to the Wall Street Journal.
What do you think an article entitled, Unlike Most Industries, Drone Makers and Operators Clamor for Federal Regulation, is all about?
If you guessed it is about drone makers and operators clamoring for more regulations, you are wrong.
Exactly the opposite is true. The drone industry is being stifled by overbearing regulation. Because of one size fits all federal regulations, all across America, it is almost impossible to use drones for commercial purposes.
It looks like Trump's social media filter, Gen.