This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. You can always click the link gmail provides to read the entire email.The 50 richest Americans are now worth as much as the poorest 165 million. The population of the United States is roughly 330 million people. That means that half of the citizens of the US have accumulated an equivalent amount of wealth as the top 50.New data from the U.S. Federal Reserve, shows stark disparities by race, age and class. While the top 1% of Americans have a combined net worth of $34.2 trillion, the poorest 50% — about 165 million people — hold just $2.08 trillion, or 1.9% of all household wealth.The 50 richest people in the country, meanwhile, are worth almost $2 trillion, up $339 billion from the beginning of 2020.Covid-19 has disproportionately affected poorer people and people of color. The wealthy generally have the luxury of working at home.Another key reason for the wealth disparity is that the vast majority of Americans aren’t benefiting from rising stock prices. THE STOCK MARKET IS NOT THE ECONOMY. The bottom 90%’s exposure to the stock market has been dropping for almost two decades. Since peaking at 21.4% in 2002, upper middle class Americans have seen a 10 percentage point decline in their equity interest in companies. A similar pattern is seen among the bottom half.The wealthiest 1% own more than 50% of the equity in corporations and in mutual fund shares. The next 9% of the wealthiest own more than a third of equity positions — meaning that the top 10% of Americans hold more than 88% of shares.Millennials, born between 1981 and 1996, control just 4.6% of U.S. wealth even though they are the largest in the workforce with 72 million members. And the share of the pie held by Black Americans is the same size it was 30 years ago.I am all for a free market and allowing people to excel, with unlimited earning potential and limited barriers. The greatest innovators should be able to perform in an environment of minimal friction, as the best of the best tend to leave a disproportionate positive legacy, propelling civilization ahead.Greatness is to be applauded, not stifled.But that's not what's happening here. Not only is wealth distributed disproportionately, but so is assistance and opportunity.The rich keep getting richer because we exist in a system that is designed to guarantee that they are too big to fail. While we watch our government debate the necessity for $1,200 stimulus checks for the struggling population, we see increasing safety nets appearing for the wealthy and corporations. The Fed doesn't even try to hide it anymore, actively buying corporate debt and artificially inflating the value of our largest companies.It is socialism for the rich, capitalism for the poor.If you are rich, you know that you will get your bailout. Moral hazard has been eliminated from the equation. There's no risk of jail time or significant penalties. The rich can behave badly with carte blanche and 0 downside risk. In fact, it's largely encouraged.We just saw a scathing report, proving that JP Morgan was complicit in decades of money laundering for some of the worst people on the planet. The penalty? A small fine and a slap on the wrist.Do you see anyone going to jail for causing the last 2 financial crises? Is anyone being punished for their bad behavior? The answer is obviously no.The system is fundamentally broken.There are few things the people can do. However, there is one thing that's a small start - buying Bitcoin and beginning to free themselves from the oppressive Fed and monetary policy. It's a small but necessary protest, and one that we should encourage people to participate in.Control your money, control your destiny.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email! Also mark that I will chart them LIVE ON YOUTUBE at 2PM EST EVERY WEDNESDAY!What’s In This Issue?Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsHow George Soros Broke The Bank Of EnglandSquare Buys 50M in BitcoinRipple Threatens To Leave The U.S.Riot Blockchain Gears Up With 2,500 New Mining RigsBitcoin ATM Thieves Prove That We Are Still EarlyThe Wolf Of All Streets Podcast Ft. Mati GreenspanChart RequestsMy Recommended Platforms And Tools
The Wolf Den #102 - The Rich Keep Getting Richer
The Wolf Den #102 - The Rich Keep Getting…
The Wolf Den #102 - The Rich Keep Getting Richer
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!Note: I have moved the charts back to the top of the newsletter. I have had a number of complaints about them being at the bottom and gmail truncating the emails. You can always click the link gmail provides to read the entire email.The 50 richest Americans are now worth as much as the poorest 165 million. The population of the United States is roughly 330 million people. That means that half of the citizens of the US have accumulated an equivalent amount of wealth as the top 50.New data from the U.S. Federal Reserve, shows stark disparities by race, age and class. While the top 1% of Americans have a combined net worth of $34.2 trillion, the poorest 50% — about 165 million people — hold just $2.08 trillion, or 1.9% of all household wealth.The 50 richest people in the country, meanwhile, are worth almost $2 trillion, up $339 billion from the beginning of 2020.Covid-19 has disproportionately affected poorer people and people of color. The wealthy generally have the luxury of working at home.Another key reason for the wealth disparity is that the vast majority of Americans aren’t benefiting from rising stock prices. THE STOCK MARKET IS NOT THE ECONOMY. The bottom 90%’s exposure to the stock market has been dropping for almost two decades. Since peaking at 21.4% in 2002, upper middle class Americans have seen a 10 percentage point decline in their equity interest in companies. A similar pattern is seen among the bottom half.The wealthiest 1% own more than 50% of the equity in corporations and in mutual fund shares. The next 9% of the wealthiest own more than a third of equity positions — meaning that the top 10% of Americans hold more than 88% of shares.Millennials, born between 1981 and 1996, control just 4.6% of U.S. wealth even though they are the largest in the workforce with 72 million members. And the share of the pie held by Black Americans is the same size it was 30 years ago.I am all for a free market and allowing people to excel, with unlimited earning potential and limited barriers. The greatest innovators should be able to perform in an environment of minimal friction, as the best of the best tend to leave a disproportionate positive legacy, propelling civilization ahead.Greatness is to be applauded, not stifled.But that's not what's happening here. Not only is wealth distributed disproportionately, but so is assistance and opportunity.The rich keep getting richer because we exist in a system that is designed to guarantee that they are too big to fail. While we watch our government debate the necessity for $1,200 stimulus checks for the struggling population, we see increasing safety nets appearing for the wealthy and corporations. The Fed doesn't even try to hide it anymore, actively buying corporate debt and artificially inflating the value of our largest companies.It is socialism for the rich, capitalism for the poor.If you are rich, you know that you will get your bailout. Moral hazard has been eliminated from the equation. There's no risk of jail time or significant penalties. The rich can behave badly with carte blanche and 0 downside risk. In fact, it's largely encouraged.We just saw a scathing report, proving that JP Morgan was complicit in decades of money laundering for some of the worst people on the planet. The penalty? A small fine and a slap on the wrist.Do you see anyone going to jail for causing the last 2 financial crises? Is anyone being punished for their bad behavior? The answer is obviously no.The system is fundamentally broken.There are few things the people can do. However, there is one thing that's a small start - buying Bitcoin and beginning to free themselves from the oppressive Fed and monetary policy. It's a small but necessary protest, and one that we should encourage people to participate in.Control your money, control your destiny.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email! Also mark that I will chart them LIVE ON YOUTUBE at 2PM EST EVERY WEDNESDAY!What’s In This Issue?Bitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsHow George Soros Broke The Bank Of EnglandSquare Buys 50M in BitcoinRipple Threatens To Leave The U.S.Riot Blockchain Gears Up With 2,500 New Mining RigsBitcoin ATM Thieves Prove That We Are Still EarlyThe Wolf Of All Streets Podcast Ft. Mati GreenspanChart RequestsMy Recommended Platforms And Tools