Important Positions/Crypto Update and MORE.

From Greg M

Lions and friends..

As you know, (posted here in this newsletter and also made public on my blog). Yesterday I did close ALL of my crypto positions with a 16% haircut to my overall crypto portfolio- And as I am writing this Bitcoin which was by far my largest holding is down another $1,500.

Prior to this, I exited ALL of my stock positions and suffered a 36% haircut from my stock portfolio’s January all time high. And, again as you all know, I am now putting my cash to work in commodities.

Currently the European Central Bank and the Federal Reserve are engaging in “emergency/unconventional” measures to stabilize the debt/credit markets. These actions came about AFTER the uncontrolled sell-off that in the debt market which caused the 10 year yield to spike.

What these central banks are now engaging in has certainly caused bond yields to drop SUBSTANTIALLY! Almost miraculously, and stabilize however, the cost is much higher inflation as they themselves continue to inflate, (which is their ultimate goal). All these central banks are doing is exacerbating the current issue, a full-on debt crisis which we are in right now… and how are they attempting to “fix” this? By Adding more debt to the current crisis! Therefore exacerbating the underlying problem itself. They are not fixing anything, they are making it worse.

The current actions of central banks is intended to get more cash back into the stock market… will it work is the question. Many people have written to me as of late who believe that at least temporarily cash WILL make its way back into the stock market followed by a very large drop. Others think new record highs are just around the corner. Still others believe that the stock market is crashing now…

I believe that despite the current actions of central banks to stabilize the debt/credit markets, all this will do is just push off a meltdown in the debt markets- henceforth why central banks are resorting to some kind of emergency policy posture right now. With that, I still believe that the market capitalization of cryptos will balloon as the debt markets implode.

****THE single reason for me closing my positions overall was to regroup, get myself better centered and organized. 2022 has NOT been a good year for me and I made quite a few mistakes and bad calls. Sometimes a person needs to just stop what they are doing and reorganize themselves… and that is where I currently stand.

I certainly may, at any time, get back both into stocks and crypto’s… in fact this IS my intention at a time when I do regroup, and get myself better in tune with all this.

GM