Another week, another reason for people to worry about what the US central bankers talk about at tomorrow morning’s closed meeting of the Federal Reserve.
People call this an emergency meeting but it’s not uncommon for the Fed to hold meetings that aren’t posted on its calendar.
I’m guessing there’s more urgency to this one because of the near-collapse of the UK’s pension funds and rumors that China and Japan are about to sell their stockpiles of US treasuries and dollars (if they haven’t done that yet).
But this is not a macro newsletter. From the outside looking in, it seems pretty simple to me: the Fed will stop raising interest rates once US inflation goes below 4% or the target rate goes above 4% and not a moment sooner. The only question is how it gets there and which comes first.
In any event, I’m back to posting on Medium and other outlets. I had to step back from free content to take care of important non-crypto activities and do some content/business planning.
When you have two minutes, read my latest post, Two Minutes on Crypto—October 1, 2022.
Also catch my bitcoin and altcoin market update from last week.
Scroll down for a meme, a poll, and some content you may enjoy.
Did you know I have a list of newsletter recommendations?
Substack, my newsletter provider, only gives me space for seven recommendations, but I subscribe to more newsletters than I can fit on the list. When you scroll down, you’ll notice a section for job listings in crypto. That section comes from the ToolsForCrypto newsletter, aka TFC.
They cover Web3 platforms, products, and stories—for free!
Poll: if forced to choose, do you think bitcoin's price will ever go lower than $17,600 again?
Throw your Bored Apes in the trash
Pseudonymous author O.C. Ripley gave a nice rundown of some NFT use-cases and compared NFT blockchains. Tap this button to read his/her/their Cointelegraph article, Throw your Bored Apes in the trash.
BTW the article talks only a little about Bored Apes, it’s mostly about the larger NFT paradigm and investment concept. Clever headline!
If you’ve subscribed for a while, you know I follow YouTube trader Alessio Rastani.
While I don’t suggest doing anything because a YouTuber said so, I’d suggest you follow Alessio and watch his videos. He posted an alarming video about the US stock market, noting a technical pattern that has led to drastic declines most of the time.
By now, you know I own stocks because I have to as part of my portfolio strategy, but I’m not big fan of them for a few reasons:
The overall market is still overvalued against all historical benchmarks.
Too many businesses have no profits and they will drag down the rest of the market as the world’s economies deflate.
Index investing has stripped valuations of any relevance to anybody who isn’t an expert in stock analysis.
Generally, the upside is smaller than properly-financed investment properties and crypto, though individual stocks may offer great deals right now.
If you’re trading the market, none of that should matter to you, you only need to think about how to place your bets as the market goes up and down. This video may help you do just that.
Jobs in Crypto
All job listings come courtesy of the ToolsForCrypto newsletter without edits or commentary.
Phantom Wallet | Front End Dev | Link to position
WalletConnect | Swift/IOS Engineer | Link to position
Evmos | Business Development Manager | Link to position
Phala Network | Community Manager | Link to position
ENS | Project Manager | Link to position
Relax and enjoy the ride!
Weekly Rundown - October 2, 2022