Written by Bryan Lutz, Editor at Dollarcollapse.com:
Every Sunday morning I send out three thoughts…
Sometimes these thoughts are on the economy, life, or hard assets.
If they’re helpful or hopeful to you, that’s great… Sometimes it just comes down to reality. That’s what I’m interested in…
So, here we go.
Here are three Sunday morning thoughts for you:
1. After losing $1.1 Trillion in Market Cap this month the “Magnificent Seven” are still worth more than any non-US national market.
This month we are finally starting to see valuations for the Magnificent Seven fall.
In fact, about $1.1 Trillion in market cap disappeared from the market.
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It is fascinating to see how big the Magnificent Seven have become to make a loss of $1.1 Trillion seem so insignificant in the market as a whole.
All the it does is simply set their value back about a month or so.
And as of right now, the impact is minimal.
The chart below is from mid-June 2024.
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On a global scale, this month’s drop changes nothing.
The Magnificent Seven are still worth more than the market in China, Japan, India, France, United Kingdom, Canada, or Germany.
2. Millennials and Gen Z’s know what NPCs are, yet they want unity and connection more than anything else.
Now, I have mixed feelings about Elon Musk, but he did post interesting video that sparked this thought.
The video was shows Joe Rogan talking to a guest on his podcast about “NPCs.”
The guest is explaining the “NPC” meme.
It stands for Non-Player Characters.
These are programmed characters in video games that do not move or change, or wander, or change their thoughts.
So the meme goes that many people today are like NPCs.
They don’t know how to think for themselves and…
simply follow along with whatever the next bit of programming is from the mainstream media.
Well, it is surprising to me that so many Millennials and Gen Z know what NPCs are yet they do not choose to become individuals.
The next generations want unity, connection, and expressive authenticity.
Instead of individuality, they choose to “emote” together.
Especially, Gen Z and their cringe “proud” confessional office bonding videos.
If you watch the video, you’ll see that neither the content, nor the process matters as much as simply emoting their negative self-talk.
3. If the rumors are true, Trump will promise to create Strategic Bitcoin Reserve for the United States. There are pros and cons.
Most people are anticipating Trump will announce this at Bitcoin Conference 2024 in Nashville, TN.
If he does…
It may cause investors to flock to Bitcoin…
Which may cause a supply shock…
Which many “experts” are saying could drive the price of Bitcoin up to $150,000, or $250,000, or even $300,000.
Wild.
On the other hand, Satoshi Nakamoto’s purpose behind creating Bitcoin was to decentralize government control of currency.
If the Trump started printing money to strategically buy up Bitcoin, and then drop it into a wallet at the Federal Reserve, then the US government could accumulate enough Bitcoin to dominate and control the market.
And that could potentially defeat the purpose behind which Bitcoiners have been HODLing for so long.
Who knows how much Bitcoin will be available for the US government though.
The majority of Bitcoin has sat in wallets the past two decades and has never moved.
Others store their Bitcoin directly on exchanges.
There are pros and cons to this, but…
If it does happen it will make some people quite rich.
