Quibbl Redux: Money Never Sleeps

Quibbling about Russia, Rand Paul and Rising Bitcoin

By Jonathan Silverman

Remember when a batch of emails released by Wikileaks revealed that the Clinton campaign feared Rand Paul as a “different” kind of Republican with potentially broad appeal? I personally recall years ago frequenting New York City haunts near Wall Street, with the cryptocurrency fanatics among us wondering when Bitcoin would surpass $300 while knocking back Russian vodka. Some of the Libertarians in our group would even donate to Rand Paul’s campaign in Bitcoin.

Today, of course, the Democrats are more worried about Russia than Rand Paul.  And I find myself again at the intersection of Libertarians, Bitcoin and Russia – although with relatively less vodka.

We have to begin by wishing Rand Paul a speedy recovery. After an altercation with a next-door neighbor, motivations for which remain obscure, the Senator was hospitalized with broken ribs and other injuries.  Senator Paul will be away from the Senate while he recovers. When will Rand return? 

Hopefully the Senator still has some Bitcoin leftover from his campaign fundraising, because the digital currency blew away everyone’s expectations by recently breaking $7000. The payment system’s meteoric rise has been attributed to an new exchange opening up where Bitcoin futures will be sold. If you think Bitcoin will break $9000, when will it happen?

Will Bitcoin become the next gold for investors, a place to store money to mitigate risk? Or are they only tulips? Warren Buffet, the greatest investor of all time, seems to favor the latter. Warren Buffet believes Bitcoin is a speculative bubble because Bitcoin doesn’t represent any value such as earnings from a company. Will the price of Bitcoin drop by the end of 2017?

Most of the Bitcoin in the world is “mined” by China, where electricity and raw computer parts are cheap. President Trump just swung through China on his official trip through Asia. He and Russian President Vladimir Putin are slated to attend the same economic forum. Will there be an off-sides meeting between President Trump and President Putin? The White House hasn’t ruled out a meeting between the two leaders. With a new focus on the investigation into Russia’s 2016 campaign influence, as well as revelations of then-Secretary Clinton facilitating the selling of Uranium to Russia, will Trump opt to meet one-on-one with Putin? Quibbl on it below. Nazdarovya!

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