By Eric Peters, CIO of One River Asset Management
Something weird happened in South Korea. No one really cared, nor understood. It might have been an attempted coup, led by the incumbent President, which isn’t how such things tend to roll.
“I am deeply sorry and sincerely apologize to the citizens who must have been greatly shocked,” said Yoon in a national address, following his perplexing own goal. Clown show.
The French government fell apart. Circus Incognitus.
German politics is not really any more stable.
The UK is a mess too.
Although perhaps not quite as Cirque du Soleil as Syria, where some group of Sunni rebels may finally overthrow Assad. The dictator cannot stand without aggressive support from both the Ayatollah who has his own domestic issues, and Putin who is rather preoccupied with taking ground in Ukraine ahead of January 20th.
What comes next, no one knows. Especially not the Neocons, who juggled one too many bad guys in recent decades and lost the support of America’s voters for at least a generation.
Which leaves a vacuum so big that not even Trump would want to fill it.
Bitcoin topped $100,000. The price is determined by buyers and sellers in humanity’s first truly 24x7x365 global market. No central bank or government stands behind the asset, which has grown to have a $2trln market cap.
Bitcoin is just code of course, and as such was utterly unaware of this week’s acrobatics. It simply runs, uninterrupted, uncaring, unconcerned about anything.
Which in an increasingly unstable world, on the precipice of a historic economic and geopolitical reordering, is a large part of its appeal.
Trump nominated a new SEC Chairman. And added a new Crypto/AI Tsar, with a mission to bring sensible market-friendly regulation to these emerging industries. Providing America’s dominant entrepreneurs with the clarity needed to build yet another generation of innovative and disruptive businesses.
