As strong downward movement hits US markets, fiat/Bitcoin interfaces have reported substantial gains for the USD versus Bitcoin. The USD has risen to less than 5000 USD for one Bitcoin if they are to believed. Notably, this movement follows Mircea Popescu's determination that a Most Serene Republic can not actually be constructed.
The novel coronavirus panic is inciting ever higher levels of inconvenience:
- Italy has declared a quarantine for the entire country and ordered all businesses with the exception of pharmacies, food markets, and selected "essential" factories shuttered until at least March 25th (archived).
- The "World Health Organization" declared the spread of the novel coronavirus a pandemic.
- The Chicago Mercantile Exchange will be closing its trading floor after the close of business Friday (archived).
- The NCAA "March Madness" basketball games will be closed to fans (archived).
- US stocks continue suffering: DJIA down 5.86%, S&P 500 down 4.89%, and NASDAQ down 4.7% (archived)
- A "containment zone" has been set up surrounding New Rochelle, New York's seventh largest "city" after racking up 178 confirmed cases and at least 1000 in quarantine following synagogue exposure to the local patient zero (archived)
The losses that started with Asian markets opening continued as European and North American markets opened leading to "circuit breaker" trading halts as stock indexes fell faster than fiat market operators could deign to tolerate (archived). Italian markets have been hit particularly hard as the novel coronavirus has managed to thrive there leading to the quarantine of 15 regions. In the past 20 years, only the reopening of the NYSE in the aftermath of 9/11 and October 23rd, 2008 rival the S&P 500 ETF's opening losses today. Sorry for your loss.
Yu Chen Sun (WoT:nonperson), former Ripple “Chief Representative” in China and student of “failure education” based Hupan University, faced an attempted rape of his recently purchased Steem pre-mine on Sunday (archived, archived, archived, archived).
He executed in cooperation with the Poloniex, Binance, and Huobi exchanges Monday a counter-rape using the Steem staked on those exchanges and regained control of his altcoin's network (archived).
Steem, created by Daniel Larimer (WoT:nonperson) in 2016, was last raped that same year. Although Sun can now change the “decentralized” altcoin seemingly at will, he has announced no plans that would prevent future rapes.
US stock prices took a hit today with the three major indexes all falling more than three percent (archived). The Dow Jones Industrial Average had shown some small gains for the year until markets opened today. The day's 3.56 percent drop takes its performance down to -2.2 percent for 2020. Mainstream reports are crediting coronavirus panic for the loss, but US stock prices have been climbing rapidly the past few months as the Federal Reserve undertook a quiet campaign of "Quantitive Easing", buying questionable debts and printing new dollars.
Today saw the US Dollar fall against both the Peso Uruguayo and Brazil's Real with the dollar dropping more than one percent with respect to Uruguay's wholesale interbank rate compared to Friday (archived). Since Argentina's new criminal government was installed this very month and went on to pass an "Emergencia Económica" law, uncaring markets have taken the Peso Argentino down to 76.75 for a single dollar at the market determined "blue dollar" rate.
The Argentine goverment is claiming to sell dollars at both a "wholesale" rate of 60 pesos to the dollar which they don't while they have started actually selling dollars at a "solidarity" rate 30% higher than their entirely hallucinated "wholesale" rate. This Argentine reinvention of the "convertible ruble" was initially proposed with the "tourist dollar" label and comes as Argentina once again is selectively defaulting on its debts.
A Mexican military plane carrying Evo Morales and other recently resigned Bolivian government socialists into Mexican asylum was diverted to Paraguay to refuel after Peru closed their airspace to the plane's political cargo (archived). Chile and Ecuador are alleged to have closed their airspace and airports as well. In the end, Brazil allowed Mexico the use of its airspace to make the coca growing would be Aymaran Tito into a northern hemisphere problem.
Katie Hill, a freshman congress critter sitting in the vice chair of the "House Committee on Oversight and Reform" appears to have flagrantly violated a rule passed in February 2018 forbidding members of the House from sexing the staff (archived, archived). The no sex with staff rule as passed by the then GOP dominated house in response to the #metoo moral panic. Katie Hill of the Hill is alleged to have maintained sexual relations with at least two staffers, one of each sex.
Her present occupation of the Vice Chair of the particular committee she does further complicates internal USG power struggles playing out.
A circulating yet multilated photograph of an adult woman alleged to be the congresswoman grooming her subordinate in the nude is presented below:
NYSE parent Intercontinental Exchange has begun trading Bitcoin futures from Bakkt yesterday (archived). Microsoft and Boston Consulting Group are also involved in the instrument. The contracts promise physical delivery of Bitcoins, but it remains to be seen how seriously anyone involved in this particular market is going to investigate the sincerity of the delivery claims. This new source of volatility has seen fiat/Bitcoin interfaces reporting substantial volatility with today's manifesting mostly in a downward direction.
This move opens up lessons in Bitcoin prices and inflexibility to a whole new class of trader.
Primary elections in Argentina on Sunday returned results that gave the "Peronist" ticket of Alberto Fernandez and Cristina Kirchner sufficient votes to win the October general election outright if yesterday's performance is repeated. This has been met with a 14.5 percent fall of the Peso Argentino against the USD, while the brief narrowing of the buy/sell spead of the Peso Argentino in Uruguay has been blown open with exchanges in Uruguay advertising spreads as wide as 0.50/1.15 (archived). Argentina's stock market has suffered today as well.
In a development less clearly connected to Argentina's electoral/economic disaster, the twitter account of Prefectura Naval Argentina was "hacked" to broadcast an hoax alert claiming a British missile attack had killed 27. In the incredibly unlikely event a new Falklands conflict opened up again between Argentina and Queen Elizabeth's forces, the largest open question is which of the two combatants declined more in the intervening decades.