The jobs report came in with a good headline number at 255,000. Wall Street went ballistic and even noticed a twinge of euphoria Friday morning. Hold the phone, I’m concerned it isn’t what it seems. You’ve seen me flat out say from time to time I think some fundamental number is a complete fabrication. I think this number is on the level. But I also think they got there by the most creative levels of accounting gimmickry.
The current environment suggests that most of the Bitcoin appreciation/depreciation might take place in very short periods of time. On the other hand, these moves might be short-lived if they are not followed by more capital.