Today, the most quoted reason for that drop was an Elon Musk who smoke weed. My hyperlink points directly to the relevant place of the 160-minute-long Joe Rogan interview. He's surely not repelled by this stuff but it wasn't even something that Musk initiated – he was given the weed by the host – but it's enough to erase over $4 billion from the Tesla capitalization? It's just amazing.
The fundamentals play almost no role here. Well, just to reveal all the public interpretations, the BBC and others have a different explanation of the drop of the Tesla stock price, an executive's exit. There have been many Tesla exits in recent years so I wouldn't think it's a terribly sensible reason for such a huge drop, either.
Similar comments apply to the cryptocurrencies. Within a 24-hour interval a day ago, the Bitcoin went from $7400 to $6400. Other cryptocurrencies lost 15-20 percent in the same window. Ethereum is near $220 now – it has lost 85% from the all time high near $1,400.
The main reason quoted as an explanation of that drop? Goldman Sachs cancelled a plan to offer a Bitcoin-related product. It has moved a chair from the 7th floor to the 6th floor of a building, and the Bitcoin went from $7400 to $6400. Nice.
What I find particularly ironic is that these people love to promote the Bitcoin and its siblings as a way to become independent of the evil governments and the evil dinosaurs – the old-fashioned brick-and-mortar commercial banks. In reality, the whole well-being of the crypto "investors" is all about tiny signals about the behavior of the governments and big banks. Goldman Sachs just changes its opinion about its Bitcoin-related products and the cryptocurrencies drop by almost 20%.
The "hodlers" who claim to build a world that is independent of the governments lose almost 20% of their wealth whenever a guy in Goldman Sachs farts. Because there are lots of beans in burritos and they cause farts, the dreams of the hodlers will be killed if a Goldman Sachs official visits a Mexican restaurant. Is this called the independence? I would call it a maximal dependence.
These guys completely misunderstand certain basic things. If users of a currency are supposed to be independent of someone, the currency has to be stable, i.e. backed by a maximally heavy anchor, a heavy body with as much power as you can get. That's why the U.S. dollar or other "big" currencies are considered fairer or more "constant" globally than the currencies of smaller countries. The hodlers' reasoning is exactly opposite. They think that they become independent of the players in their environment by being attached to a tiny leaf that floats in the air. Well, if the inertia is this small, you can't become independent of anything because the leaf's motion is dramatically affected by the aforementioned Goldman Sachs' fart.
Meanwhile, the British intelligence has named the two attempted assassins of the Skripals – who were finally not really hurt:
"Red Heat" film pic.twitter.com/aIiAY3vQcp— Sergey (@sergeyseregin79) September 5, 2018
This tweet is priceless. The claimed assassins, Alexander Petrov and Ruslan Boshirov (incidentally two name that are about as widespread as John Smith), look really similar to two Soviet villains from "Red Heat", a Schwarzenegger 1988 pulp film. Is that a coincidence? Was that supposed to be a joke?
An even funnier story revolves around the Facebook friends of Boshirov's, the second claimed assassin. Boshirov had a Facebook account until recently. He had exactly one friend, Yulia Chopivskaya, an Ukrainian babe (30 years or so).
Moreover, Boshirov only met the babe once – five years ago in a café in the center of the world (Prague), they spent 30 minutes with one another. Boshirov, the claimed #2 assassin of the Skripals, had a background photo on Facebook that contains a familiar scene (for us, Czechs) of the Old Town Square in Prague. The 600-year-old astronomical clock, the Orloj, is on the left (12 apostles show up in the 2 windows every hour). Café Mozart and the exchange office with the 50% loss when you sell your euros, is on the right. Nice. Almost all important events revolve around Prague in one way or another.
To make the story even crazier, the Ukrainian babe was shown a photograph of the assassin and she couldn't recognize him! As the only Facebook friend i.e. de facto the only witness of Bashirov's existence, she was the only hope that could make Theresa May and her subordinates look less comical with their conspiracy theories – but it didn't work. Theresa May's Bashirov doesn't seem to be the same Bashirov she met in Prague. As Ellen Feiss has famously said, it's a kind of a bummer. ;-)
However, the would-be "mainstream politicians" are constantly feeding the stupid sheep who vote for them with this kind of conspiracy theories. Vladimir Putin has hacked the U.S. elections, making the opinions of hundreds of millions of Americans irrelevant, and he remotely controls Donald Trump through a tunnel connecting the Kremlin and the Trump Tower. And the same people call Alex Jones – who was permanently banned from Twitter, he as well as Infowars, yesterday (I am as angry as I was when he was banned from the other big four Internet servers) – a "conspiracy theorist". Well, Jones surely deserves the label of a "conspiracy theorist", at least sometimes. But conspiracies are sometimes facts, not just theories. And more importantly, the conspiracy theories routinely promoted by the CNN, Theresa May, and people like that are far nuttier than anything that Alex Jones has ever offered. (I find it unlikely but conceivable that a shooting attack was fabricated by the opponents of gun rights or someone like that – it would require just a local conspiracy to fabricate such an event. The claim that the Americans' opinions weren't crucial for Trump's victory is a different level of a conspiracy theory – it is plain nutty.)
Meanwhile, the tension continues in the Saxon Stony Brook. The media allied with Merkel, Soros, and similar people have been feeding their audiences with the claim that the streets were conquered by the Nazis, the far right forces, and other people – instead of the rather regular people who are simply dissatisfied with the insane Merkel's pro-migration policies and their consequences. In particular, the media told all of us that these far right Nazis were hunting for the foreigners to beat them up.
Well, it just happened that Hans-Georg Maassen, Germany's spy chief, has shared his conclusion that Merkel and the media were lying – probably deliberately so – and no hunting for the foreigners has taken place. To make things more specific and worse, Maassen claims that one video that was used as evidence of this "lynching" of the foreigners (probably one of these) has been doctored. Well, it's not hard to believe that it was fabricated because a group named "Antifa" is signed inside the video! I don't recommend you to believe their data, not even their "Guten Tag".
Michael Kretschmer, Saxony's premier, also said (on Wednesday) that there were no events similar to lynching on the Saxon streets.
The anti-migration AfD has just trumped the social democrats, SPD, in the German polls and became the second strongest political party in Germany. The AfD is even stronger in the lands of East Germany: according to an ARD and Die Welt poll, AfD is already the #1 party there (27%), having beaten CDU (23%), too! The Left Ones (18%) are ahead of the SPD (15%). The spy's chief is no longer afraid of pointing out that according to the data available to the intelligence, Angela Merkel and the "mainstream" media are a bunch of liars who manipulate the German public. And the German minister of interior, Horst Seehofer (the key man in the Bavarian CSU, a more right-wing "sister" of the federal CDU), has revealed that he would also join the anti-migration protesters in the streets if he weren't a politician! He also called the migration "the mother of all problems".
Glaciers are starting to move in Germany. Lots of people on our side have said that Germany is already doomed. I don't actually think that Germany is already doomed. And as a person who associates himself with the European civilization in the conventional sense, I am not willing to "sacrifice" Germany yet. Germany will regain its common sense and if it doesn't, it will be our duty to fight in one way or another and turn Germany into an appendix of Western Bohemia.
(On the other side, Volkswagen has made a nearly comical corporate interference with these political issues when it denounced xenophobia. Xenophobes mustn't be allowed to do what they want. If they were allowed, we could also end up allowing people to create huge corporations producing tens of millions of cars initially picked by Adolf Hitler as the car that every Aryan German may afford. Oops, this actually does describe Volkswagen, a small appendix of Hitler's plans, never mind.)
Another topic: I was intrigued by the claim that the European forest cover has increased by a whopping 35%, mainly because the underdeveloped yet aggressive agricultural strategies were abandoned in the post-communist Europe and much of the arable land has been retaken by forests.
The Czech news server novinky.cz has also run a nice story about the benefits of the relatively dry spring and summer we've experienced (an expert from zoo explains which animals, birds, plants love the drier conditions etc.). Incidentally, the harvest seems to be wonderful – fruits, nuts, whatever you like – and the drought has ended. Recent rainy days have pushed the benchmarks much closer to the "normal".