Content originally published at iBankCoin.com
This little pink sheeter ran up 20,000% because MUH Bitcoin, hitting a market cap of $12.6b, and now it's all unraveling under the hard realities of mathematics driven by greed.
Even down 65% for the day, on 11,000 shares traded, the market cap is still over $4 billion.
According to the most recent financials published with the SEC, the company had a whole $3 million in cash.
Authored by Christoph Gisiger via Finanz und Wirtschaft,
James Grant, Wall Street expert and editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns of the unseen consequences of super low interest rate and questions the extraordinary actions of the Swiss National Bank.
Nearly ten years after the financial crisis, extraordinary monetary policy has become the norm.
One month ago, we speculated that in order to pass the GOP tax plan, Congress would end up having to raise the proposed corporate tax rate from 20% to 25%, because as it stands now, there is simply not enough sources of funding.
In the end corp tax will be agreed upon at 25% starting 2018, as per the Goldman plan
— zerohedge (@zerohedge) November 9, 2017
Cliffhanger indeed...
From Rand Paul's somewhat confusing tweets, the divergence between bond and bullion and the dollar and stocks is clear...
Meet The Crypto Company - up almost 20,000% since inception in September...
To a market cap of over $12.6 billion...
Grant's Interest Rate Observer drew the world's attention to this 'company' yesterday...
Shares in over-the-counter name The Crypto Company, which listed in May and traded around $20 as recently as Dec 1st, have gone on a parabolic run in the last ten days - trading as high as $642.