FinTech, Crypto, and Beer

What happens when the whole US economy is forced into rehab in a matter of months? [Gilder's Daily Prophecy] February 14, 2022 [UNSUBSCRIBE]( | [ARCHIVES]( IMPORTANT UPDATE FROM JAMES ALTUCHER The media will blame the volatile markets on anything from the coronavirus to inflation… [But something more sinister is causing them to swing up and down…]( One former hedge fund manager claims it has everything to do with the computers on Wall Street… [He explains everything in his short video here.]( It’s come to our attention that you might be missing out on extra benefits exclusively for Gilder's Daily Prophecy subscribers. Check out our website where you can find archives, updates, and everything else included in your subscription. You can access it by [clicking here now](. FinTech, Crypto, and Beer [Jeffrey Tucker]Dear Daily Prophecy Reader, The great reset has happened but not in the way it was planned. Have a look at the Super Bowl ads yesterday. They were all about life going back to normal. There were lots of new advertisers willing to shell out $7M for 30 seconds. The main new entries concerned financial tech and crypto companies, plus many health-care companies, and some old stand-bys of snack food and beer. The ethos is upbeat, as commerce should be, and pushes travel too. We should weep for the hundreds of thousands of small businesses smashed over these past two years, and the millions who have been displaced in the job market. Also, we lost two years of education, art, and innovations that might have taken place. The shattered sense of order, decency, and optimism has been an enormous cultural casualty. And yet, the Super Bowl gives hope. Mass Defiance The 75,000 people there were under a mask mandate and free N95s were there for everyone. What’s the old expression? You can distribute tens of thousands of face coverings to a mob but you can’t make anyone wear them. Or something like that. Indeed, despite strict orders, hardly anyone wore them at all. It was as if everyone there just said no more, we are done with the nonsense. It was especially notable because it was California, which is still in a state of emergency and where mask mandates are common in all classrooms. The world watched the masses moving forward with their lives, thumbing their nose at the government and the public-health bureaucracies that took away our freedom for two years. It was the celebrities that paved the way, nearly all eschewing the face covering. Now, if you watched last year, you know that this was true then too! But that was Florida and Florida has been back to normal for a very long time. Somehow that visual was written off as an eccentricity of the state. Defiance in California, which locked down long before Covid was even an issue there, is more striking, and certainly noted all over the world. Cryptos Are Set To Explode In 2022! 2021 was a record year for cryptocurrencies… In fact, one expert calls it “the defining year” for crypto. But if you’ve missed out so far, it’s NOT too late to get started… Because many predict 2022 will be even bigger! [>> To see how to stake your claim, click here now. <<]( Truckers Inspire the World It was noted, especially in Canada, which is still under despotic rules that are being challenged by a trucker convoy that has essentially taken over the capital city of Ottawa. The tensions with the recalcitrant Trudeau government were very high. All weekend, it appeared as if there would be a confrontation with the police. It never happened. Twitter filled up with images of police fist bumping protestors. We are now in unchartered waters. We have no modern experience with a widespread, popular, and sharp conflict on this scale with a democratically elected government in an advanced economy. We’ve seen this place out under foreign dictatorships and occupied states. But we’ve not seen how it ends in a context like the U.S. or Canada. How This Ends Do we want to make a guess? I predict a gradual and inauspicious loosening of restrictions with hardly any announcement and certainly no apology or admission of wrongdoing. That loosening will cause the crowds to thin and inspire people to go back to normal life. Eventually the truckers too will move on, while the vaccine passport system will be less vigorously enforced. The model here is how the Super Bowl handled its seemingly strict rules. They demanded proof of vaccination to enter, or a negative test, no home tests allowed, but set up all kinds of testing stations that give results in 30 minutes. The mask mandates and social distancing rules were completely ignored by all and not enforced by anyone. So it will be in the future. Most of the rules will stay in place — certainly the power to enforce them will stay in place — and the bluster about safety and caution will go on but all this will become just the wallpaper that everyone just ignores. None of this, however, will lessen the public anger toward what has happened. Massive political realignments are coming before the end of the year, revealed in elections all over the world. Every left of center party in the world outside of Sweden made enormous errors and sided with tyranny over freedom, putting their citizens under home arrest for a virus. The Rush to Normalize The whole point of democracy, as enlightenment thinkers imagined it, was to forestall the violence of revolution, allowing even dramatic change in administration but without high social cost. Even after all this time, democracy still works for that purpose more or less, provided that the incoming powers-that-be can do something about the deep state. That’s where I’m skeptical. Right now, the race is on to normalize everything sooner, rather than later if only to rescue Democrat control and prevent what appears to be a coming Republican takeover of everything. Big shot investment banks — Goldman Sachs, JPMorgan Chase and Morgan Stanley — have now repealed their mask mandate. It’s likely that Biden himself will push for his plan for the new normal in his March 1st State of the Union address. The Real Virus These people can relax restrictions and rules, but there is no easy fix for a much more persistent problem in the US today: soaring inflation. It’s everywhere, spreading faster than Omicron. We got some honesty from the Wall Street Journal over the weekend, which noted fully 10% increases in prices in major cities like Atlanta and Phoenix. If trends continue this way — what’s to stop them? — the double digit problem will be countrywide in a matter of months. There is already talk on the street of panic at the Fed, with a full plan for a year of dramatic rate increases. The trouble is that no one can say for sure that this path will soak up the excess liquidity that has given prices such upward momentum. Further, no one can say for sure what this will do to stocks, investments, and productivity generally. For nearly two years, the American economy has lived off monetary injections like a heroin addict. Indeed, it was the Fed and Congress that made lockdowns even possible. What happens when the whole US economy is forced into rehab in a matter of months? A hint of what will likely survive comes from those Super Bowl ads. There were five companies that managed to reach a mass audience. They were the non-fungible topic marketplace [FTX]( the crypto exchange [Coinbase]( the crypto trading platform [eToro]( the wallet and credit card company [Crypto.com]( that pitches itself as the platform to transition the world, and the Canadian exchange [Bitbuy](. Keep in mind that the whole impetus for the invention of this technology was the disaster of the 2008 financial crisis. The lockdowns of 2020-21 have provided another massive boost. It is all mainstream in a way that no one could have imagined, even five years ago. It’s a great reset for sure, just not the one that was supposed to happen. Final note: Sweden, Denmark, and Norway are lifting all travel restrictions, even the vaccine mandate. It might be time to plan your next international trip, letting the cash flow to where freedom lives. Regards, [Jeffrey Tucker] Jeffrey Tucker This “Metaverse Mistake” Could Cost You A Fortune Wired Magazine says it’s “arguably as big a shift as the telephone or the internet.” Which is why the biggest companies in the world are jumping in with both feet. Facebook. Apple. Microsoft. But I’m afraid most folks are making one simple mistake. And if you’re not careful, it could stop you from profiting off the biggest opportunity in the last generation. [Click here to learn how to sidestep this critical error (and what to do instead)]( [Three founders Publishing]( To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here](. If you are having trouble receiving your Gilder's Daily Prophecy subscription, you can ensure its arrival in your mailbox by [whitelisting Gilder's Daily Prophecy](. Gilder's Daily Prophecy is committed to protecting and respecting your privacy. 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