{"id":66096,"date":"2021-04-17T02:15:25","date_gmt":"2021-04-17T09:15:25","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=66096"},"modified":"2021-08-30T15:30:35","modified_gmt":"2021-08-30T22:30:35","slug":"black-coffee-17-apr-2021","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id66096-black-coffee-17-apr-2021.html","title":{"rendered":"Black Coffee: Red Ink and Green Confetti"},"content":{"rendered":"

\"\"It’s time to sit back, relax and enjoy a little joe<\/em> …<\/p>\n

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.<\/p>\n

I hope everybody had a terrific week. Now that the hardest part of it is over, let’s get right to this week’s commentary …<\/p>\n

It’s not an exaggeration to say history is largely a history of inflation — usually inflations are engineered by governments for the gain of governments.<\/em><\/p><\/blockquote>\n

— Friedrich Hayek<\/strong><\/p>\n

In a hurricane, even penguins can fly.<\/em><\/p><\/blockquote>\n

— Anonymous<\/strong><\/p>\n

Credits and Debits<\/strong><\/p>\n

Credit:<\/strong><\/span> Did you see this? The average bitcoin transaction fee has hovered between $5.55 and $31.48<\/a> this year. With that in mind, economist Peter Morici asks: “Why would anyone pay $10 to purchase a $4 latte at Starbucks with bitcoin?” Good question; those costly transaction fees are why even bitcoin holders now admit<\/a> it’s not a legitimate currency. Hey … that’s progress. The next hurdle is getting them to realize it’s also not a proven store of value.<\/p>\n

Debit:<\/strong><\/span> In other news, more investors’ cash has gone to stock-based funds in the last five months than the previous dozen years combined. Amid the frenzy<\/a>, since November $569 billion has gone to global equity funds — compared with $452 billion in the previous 12 years. But, but … nothing to see here, folks. I’m sure any correlation to the rapidly-growing worldwide fiat currency supply is purely coincidental.<\/p>\n

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A wiser man takes time to understand market psychology and the madness of crowds. https:\/\/t.co\/f2s8xTPGWo<\/a><\/p>\n

Alasdair Macleod (@MacleodFinance) April 11, 2021<\/a><\/p><\/blockquote>\n