Crypto’s Utility

We wondered aloud whether negative interest rates would be a boon for digital currencies.

“No thanks,” says our contributor today, “crypto’s useless. Too much reliance on electricity.”

Our next reader disagrees; he believes crypto will join traditional safe havens:

“In the event of negative interest rates, I don’t see metals and cryptos as an either/or investment.

“It seems to me that cryptocurrencies will remain an attractive asset class (most especially to millennials). As blockchain technology becomes more widely accepted and used, the older generations will continue to build interest them.

“As for precious metals, I don’t see gold and especially silver losing their luster. And lets not discount platinum and palladium. Glad I own shares of SPPP to cover that arena.”

That’s Sprott Physical Platinum and Palladium Trust, in case you wondered. On the subject, palladium’s been on quite a tear this year. At the time of writing, it’s a shade below $2,000 per ounce.

Your Rundown for Friday, Dec. 13, 2019:

UK Election Takeaway

We learned the outcome of the UK election yesterday. The upshot? Boris Johnson won decisively in what was a humiliating defeat for far-left Labor Party candidate Jeremy Corbyn.

Back stateside, Democratic presidential candidate Joe Biden’s takeaway is this: “Look what happens when the Labour Party moves so, so far to the left. It comes up with ideas that are not able to be contained in a rational basis quickly.”

(A little garbled there at the end, but we get the idea.)

Biden went on to compare President Trump with Boris Johnson. Similarities beyond hairstyles abound; mainly, both are “embraced by the populist right,” says an article at Business Insider.

And following Biden’s logic, if Johnson can win an election by a landslide, that doesn’t bode well for Democrats come Nov. 2020.

“At the same time, the progressive wing is convinced that Democrats need to learn from the 2016 defeat of Hillary Clinton and choose a candidate like Bernie Sanders or Elizabeth Warren who can pledge radical reform,” the article continues.

So a showdown’s inevitable among Democrats for a party candidate — choose a far lefty like Sanders or Warren… or a self-styled centrist like Biden, Bloomberg or Buttigieg.

Do you think a more centrist candidate will win the day? Or the reverse?

Market Rundown for Friday, Dec. 13, 2019

S&P 500 futures are pat at 3,169.19.

Oil’s up 20 cents to $59.38 for a barrel of West Texas crude.

Gold is up $4.60 to $1,476.90.

Bitcoin is down $2.42 to $7,245.53.

Have a good weekend. We’ll talk more Monday.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown and has been with Agora Financial / Seven Figure Publishing since 2005. He's been covering technology and markets for over a decade.

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