Monday, November 11, 2013
Fruitcake Raoul Pal is back again, this time pumping Bitcoin
I was wondering why I was getting so many hits for these old posts:
Best Fucking Blog in the Universe - Let's all laugh at Mr. Bottom-Tick, Raoul Pal, and his Doomy Doominess Of Doom
This Man Is a Transcendent Genius Who Paul Krugman Totally Agrees With On Everything - Raoul Pal? Fucktard, apparently
Wherein, if you don't remember and haven't the interest in following the damn links, I made fun of how Raoul Pal perfectly and precisely bottom-ticked the June 2012 bottom with a sell call based on dire predictions of coming ultracollapse.
Since the very day of his predictions, QQQ and SPY have both flown up by over 35%.
Anyway, turns out that Raoul Pal is now hawking Bitcoins to the goldbug crowd:
Silver Doctors - Raoul Pal on why Bitcoin's upside is 5000x the price of gold
Zerohedge - As bitcoin plunges 25% on government scrutiny, the first BTC "fair value" reco has a stunning price target
With reposts at Max Keiser's website and Prison Planet.
So, I guess it's to be expected. The goldbugs are well and truly being herded into Bitcoin, and the coming collapse of civilization will see Bitcoin as the world's new currency, backed by gold or something, despite that whole little problem about having to maintain the worldwide internet backbone when society collapses. And, um, electricity distribution.
And I guess the only goldbugs left in this world have retreated to the conspiracist echo chamber run by Alex Jones and Max Keiser.
I will simply repeat here that Raoul Pal's sell call perfectly bottom-ticked the 2012 correction.