Because Network Effect has forced traditional financiers to change their tune on the digital currency. And this is black rocks, c i o, o of fixed income, he told c. N. N. B. B. C. Last friday. His name is rick reader, he said, big queen is here to stay while conceding, that he is not a big bowl reader, said the flagship currency will quote, take the place of gold to a large extent because it is so more functional than passing a bar of gold around, right . This is a remarkable statement because weve heard the argument that big coin is goal to point out that its a prayer to gold, but that has come from the internet from social media, from heterodox thinkers like ourselves. Its not come from a 7 trillion dollar managed fund like blackrock and were hearing it from other folks like Paul Tudor Jones stent arthur miller. And although theres 100. 00 trillion dollars out there looking for a home as part of a managed money environment, they are 7 percent of that 100 trillion dollars of only one
Climaxed kaiser, this is the kaiser report. Have we hit peak bitcoin . That is a good question because you know more and more billionaires around the world are getting into big coin and massive sort of Asset Management Companies Like black rock are getting into big quine. So max keiser this week, you tweeted a serious big question is developing a supply on exchange, dries up prices will start gapping higher looking for sellers. What do you mean by this max kaiser . Well remember the old peak oil or peak gold arguments that were running out of oil or running out of gold. That of course, is not true, but in the case of bitcoin, because it is absolutely scarce then because the demand is approaching infinity, we are potentially hitting peak bitcoin, where it will become increasingly impossible for the average mom and pop to acquire bitcoin. Because all the 900. 00 coins per day that are generated through mining will be sucked up by the institutions that will never hit the market. And of co
Well, tha a big question a big meeting on capitol hill tomorrow may give us some answers perhaps the fist big test of the new year will come from iran. Deadly empty government protest there, least 20 people reported dead calling those protesters, quote, enemies of iran. Big day, of course, as we kick off a new year 218 is here and Varney Company is about to begin. Well, have you noticed unless you live in very southern, florida or out on west side in california it is freezing outside frigid temperatures continue to grip wide swaft of the country from pink and purples youre in deep purple youre in deep cold. Heres that weather map where windchills bundle up we mean that is obvious isnt it and snowstorm by the way, is brewing we are told off the atlantic coast. And if it it pushes east it could be a major storm up and down i95 corridor, oh boy looking forward to that. Or more for us on that, potential storm about three minuteses from now. Lets take a quick look at the stock future for yo
2016. Gold still getting a bid despite the fact that Central Banks might pull back over in europe by 5 10 of 1 . David time after the morning brief. We get the case schiller home price index for april. At 10 00 a. M. , Consumer Confidence for the month of june. At 1 00, Federal Reserve chairman janet yellen in a yell and is slated to speak on electronic issues. Also, the u. S. Treasury will auction 34 billion in fiveyear notes. We will hear from the eu regulator who just imposed that record 2. 7 billion fine on google for favoring its shopping Comparison Service over rivals. The European Competition commissioner will join us at 9 30 a. M. Eastern time. Jonathan the news in the central banking world in the past hour, bank of england planned mark carney as with his Financial Stability team to increase Capital Requirements are u. K. Lenders by 11. 4 billion pounds to tackle risk posed by Consumer Credit growth and prepare for the uncertainty of brexit talks. That News Conference after the
Democrat have been particularly intrigued by polling suggesting a close race in utah. It is one of the most conservative states in the country. Political leaders there have pulled her endorsements from donald trump in recent days. I am mark crumpton. This is bloomberg. Are 30 minutes from the close of trading in the u. S. Live, im matt miller. U. S. Stocks extending their gains and then racing them after the Federal Reserve september minutes. It was a close call for federal officials last month saying a rate hike was needed relatively soon. The internal Division Still remaining over the timing. Brexit pains continue to drive swings in the town as the british Prime Minister can see the need for a parliamentary vote of a plans to lead the eu do for a soft or a hard brexit . Three major u. S. Bank gear up for earnings later this week. We expect nearly as many fireworks as we have seen in the last few quarters . We will take a look at where the major averages stand. We had gains across the