The Opening Belle - Biden Buzz Subsides

Senate Republicans vowed Thursday that President Joe Biden’s coronavirus relief bill will not get 60 votes, daring the White House to either compromise with the GOP or use partisan procedural tactics to evade their filibuster.

“We’ve already given $5 trillion,” said Sen. Tommy Tuberville (R-Ala.). “It’s too high. It’s too vague ... I don’t want to just throw money out there.”

Some Democrats acknowledge what Biden is presenting will not be embraced by the Republican Party and say his proposal is just the first step toward an eventual compromise with the GOP.

The alternative is to scrap efforts at bipartisanship and try and pass Biden’s first legislative agenda item unilaterally, which could always be a fallback plan.

“Some of the elements will draw very strong bipartisan support,” said Sen. Tom Carper (D-Del.), a close Biden ally. “What we need to do is just work hard to find a good principled compromise.”

“Being Bitcoin, a 10% range intraday is a mere flesh wound to the digital asset, in a world where tradable versus investible is seriously blurred,” said Jeffrey Halley, senior market analyst at Oanda Asia Pacific Pte.

The digital coin could “easily be $35,000 again tomorrow or could drop through $30,000 and test notional support at $27,000.”

A “proper currency,” as Donovan termed it, can be a stable store of value, providing certainty that it will be able to buy the same basket of goods tomorrow as it buys today. That confidence is derived from central banks’ ability to reduce supply when demand is falling. There is no such mechanism for switching off supply on most cryptocurrencies, and therefore their value can slide -- leading to a collapse in spending power.

“People are unlikely to want to use something as a currency if they’ve got absolutely no certainty about what they can buy with that tomorrow,” Donovan said in the video.

 Besides significantly lower fees, the core @Utrust advantages are:

- Zero chargebacks losses ✔️

- Zero locked funds for flagged card payments ✔️

- True borderless coverage ✔️

- Fast settlements ✔️

Keep it simple 👍 pic.twitter.com/2IIfYtkyMq— Nuno (@nunocor_) January 12, 2021 

Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through “Fear, Uncertainty, and Doubt” (FUD).

Most of these are completely unsubstantiated, but annoyingly persist as negative narratives Bitcoin must fight against.

"The amount of energy needed to refute bullshit is an order of magnitude larger than to produce it.” - Brandolini's law

Chief operating officer Ashwani Gupta says trade deal that avoids export tariffs safeguards Sunderland plant and tens of thousands of jobs

“Brexit for Nissan is a positive. We’ll take this opportunity to redefine the auto industry in the UK. In certain conditions, our competitiveness is improved. For some of the cases, it is at par. It depends on which car, but competitiveness is definitely improved in electric vehicles.”

"Sunderland is one of the top three plants in the world for competitiveness for Nissan. Brexit gives us the competitive advantage in the UK and outside."