Business

Authored by Lance Roberts via RealInvestmentAdvice.com,

As we keep emphasizing, the world is in an Everything Bubble.

In truth, it is a bubble in sovereign bonds, created by Central Banks attempting to corner these markets via ZIRP and QE.

However, because sovereign bonds are the bedrock for the current fiat financial system, if they go into a bubble, EVERYTHING goes into a bubble.

Why?

CBOE Global Markets said on Monday it would begin trading its bitcoin futures contracts, known as XBT futures, next Monday, and will offer free trading for the rest of the month to help draw in traders and create a market. Both the CBOE and its crosstown rival, CME Group, received permission last week from the CFTC to launch bitcoin derivatives as they go head-to-head in a battle to determine which exchange will come to dominate the market for bitcoin-linked derivatives, the Financial Times reported.

The overnight exuberance in US equity futures is being sold a little at the open, with - most notably - Nasdaq now back underwater from before ABC's fake news Flynn story on Friday...

Across asset classes - the unwind of Friday's panic moves is complete...

Plunder Capitalism

Paul Craig Roberts