Business

Via CoinDesk.com,

Chris Burniske is a cofounder of Placeholder Ventures in New York and former blockchain products lead at ARK Investment Management LLC. Jack Tatar is an angel investor and advisor to startups. In this opinion piece, adapted from their book Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond, they explain what mainstream financial commentators still don't understand about the space – even if the markets are starting to get it.

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Authored by Wolf Richter via WolfStreet.com,

Sales volume in Q3 plunges 67% from a year ago.

There are several quotable observations in Eric Peters' latest Weekend Notes, in which the One River Asset Management CIO looks at last week's melt-up euphoria in markets...

Authored by Charles Hugh Smith via The Daily Reckoning,

This is the reality: the American Dream is now reserved for the top 0.5%, with some shreds falling to the top 5% who are tasked with generating a credible illusion of prosperity for the bottom 95%.

The question about who still has access to the American Dream is starkly answered by this disturbing chart:

Alexander Hamilton, George Washington’s Treasury Secretary, in his first “Report on the Public Credit” in 1790,

put forth the concepts of “assumption” and “redemption.”

He argued that the federal government should assume the Revolutionary War debt

and pay those debts at “face value” in full to the bearers of such debt on demand.

In order to redeem the $75 million of bonds, Hamilton promoted the creation of a “sinking fund”

that would pay off five percent of the bonds annually.