Business

When Dr.Copper is soaring to two-year highs it is "unequivocal" proof the world's economy is back on track. However, as the industrial metal drops to one-month lows amid the biggest inventory build in 15 years, slowing China growth, and plans to raise China capacity - analysts are quiet at the economic PhD metal's demise.

Yesterday saw the biggest inflow of the metal in 15 years to warehouses managed by the London Metal Exchange, according to bourse data released Monday.    

After spending three days trading above the price for an ounce of gold, Bitcoin prices crashed overnight - down over $120 in a few short hours - following Bloomberg headlines citing China officials saying that Bitcoin regulation is not temporary.

As a reminder, a lot of this most recent run-up has been catalyzed on
hope of a positive ruling by the SEC with regard the approval of Bitcoin
ETFs - the ruling is due on Saturday.

With China's "Two Sessions" currently taking place, and Beijing hard-pressed to report positive economic data (including banning the sale of stocks by some mutual funds according to Bloomberg), it was perhaps not surprising that overnight China reported that its foreign-currency reserves "unexpectedly" rose in February for the first time since June 2016, halting a seven-month decline, rebounding over the psychological $3 trillion level controls on capital outflows and a rally in the yuan.

Would you rather have one bitcoin, or a single ounce of gold?

As Visual Capitalist's Jeff Desjardins notes the answer used to be obvious. Even at the climax of the legendary 2013 rally, bitcoin was never able to reach unit-for-unit parity with gold.

Via Rosanna Landis Weaver of AsYouSow.org,

According to the Economic Policy Institute,

“CEO pay grew an astounding 943% over the past 37 years, greatly outpacing the growth in the cost of living, the productivity of the economy, and the stock market, disproving the claim that the growth in CEO pay reflects the ‘performance’ of the company, the value of its stock, or the ability of the CEO to do anything but disproportionately raise the amount of his pay.”