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130 Comments

  1. Please could you add a link to the intermediate table Mr Denninger refers to? I don’t think it shows in the article on Market-ticker.org.

  2. I was hoping you could help with the unraveling of the implications of cryptocurrency being accepted by the state for payment of state taxes and fees. Apparently, Colorado, where I live, will be the first in doing so as imminently as this summer. Gov. Polis stated that, “We won’t be holding any assets in that form, but we will have a layer that allows for payment in those forms and then conversion into the units that we use, which is dollars” While I understand cryptos as a volatile investment vehicle, I can’t see how their use as a tax payment would not have serious impacts on state budgeting and funding, especially given the wild fluctuations in their valuations and the difficulties in converting back to dollars that you’ve mentioned. More creeping control grid??? Thank you for any insights you can provide.

    1. If they are not holding, assume they will be converting immediately. It should not impact the states funding and budget if they are simply taking in and converting immediately. They might argue taking cryptos increases the chance that they will get paid. In my book setting it up this way increases the chances they can control, audit, enforce and seize. Lots of tax liabilities out there in the crypto cap.

      1. Thank you, Catherine! And, a huge umbrella “THANK YOU” for all the incredible work you and your team produce…can’t imagine navigating these times without the knowledge and insights you share!

    2. They will convert crypto immediately into fiat since the state will not be holding any crypto. And the state should have no problem converting crypto into fiat with one of the accredited crypto on-ramp providers.

      2. Well, I hope the gov of Co has a super fast computer. Nothing is instantaneous and they can crush the crypt any time.

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  5. Is there anyone on this forum who is in Mexico or going to Mexico in the next couple months?

    1. Makes it harder for them to go all digital. Challenge is likely longer to get your refund.

      1. Oh that makes total sense….but I never leave money with govt. I always make sure I am paying them when due…;-)
        I’ve heard of times when it took a while for people to get their refunds so….I changed my way of doing things..
        Thanks! And thank for ALL you do. Some of it is over my head but I do feel more educated than most.

  7. Small local banks are better than JP Morgan and others, just like cash is better than a credit card. Please discuss credit unions. They lend from deposits and are locally owned. I do not think that they get money from the Fed. They have their own deposit insurance and compete with banks. The money stays in the community. What is your opinion? You talk about small community banks, but what about local credit unions?

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