Plunder Ahoy

What is Plunder Ahoy?

The CFTC’s move also comes as other US regulators continue to craft their own crypto policies. The agency and the Securities and Exchange Commission (SEC) jointly issued an interpretation in March on how certain crypto assets would be treated under federal securities laws. 

A lot of bigger questions remain without the CLARITY Act. The bill aimed to establish a federal framework for digital commodities and delineate the roles of the SEC and the CFTC. 

Its failure also leaves unresolved disputes over prediction markets and state and tribal gaming authorities, outside a comprehensive congressional framework. Those issues took on new significance during Senate floor debate over the bill, as concerns about federal commodities oversight extended to markets typically regulated at the state or tribal level. 

About Plunder Ahoy

When that happens, commodities prices are going to get completely unhinged. The cash on corporate balance sheets is going to start losing purchasing power very fast. And that will only encourage more dumping of it, and increase the positive feedback loop now already in place.

They can dump it for BTC, sure. But that’s not going to help at all. Why not? Because the value of BTC depends entirely on the U.S. dollar still being usable in a basic sense as a currency. If the dollar falls, so does BTC, because BTC is not fundamentally useful other than as a way of transferring dollars or other fiat currencies. If there is no value to transfer, there is no value to the transfer tool. Corporates are going to have to dump extra paper currency for gold, quickly, yesterday, or they are going to lose everything. Same for individuals. Time is almost out now, I’m sorry to say. Good luck out there, and if you want a guide during these crazy times of monetary chaos, follow me on SeekingAlpha, and sign up for a free trial at The End Game Investor. 

The post The end of the dollar is nigh, protect yourselves now appeared first on CalvinAyre.com.

How to play Plunder Ahoy

Unlike regulated sportsbooks, prediction markets allow customers between the ages of 18 and 21 to trade on sports-event contracts. Craig Carton, a sports talk host with WFAN 660 AM in New York, criticised the athletes for their endorsement of Polymarket. Carton, a recovering compulsive gambler, opined that the “unregulated” gambling markets are driving Americans into bankruptcy and kids out of school. Regulated books prohibit those under 21 from betting on their platform, leading Carton to question the celebrities for promoting the company.

“At what point does someone come along where you say no to the offer?” Carton asked.

A Bank of America study released on 1 September found that the median deposit account balance of households that participated in online betting was 59% higher than households that avoided the activity. As prediction markets rapidly expand alongside traditional sports betting, the findings have prompted “some to blur the lines between entertainment and investment”, according to a proprietary study undertaken by BofA.