Many bitcoin aficionados are waiting with baited breath as the SEC is to announce by this Friday whether they will approve the first registered bitcoin ETF. This is not the make or break event that many think it is, though. As a matter of fact, if the ETF is denied and the bitcoin drops, I'll consider it an opportunity.

By just the 2nd full day of trading, math and reality hits SNAP stock. Last week, I posted "Goldman Sachs & Morgan Stanley Pull Off the Heist of the Decade, Bends Over Those Who Don't Read BoomBustBlog", and if that wasn't a textbook example of a guaranteed short, a clear sign of a bubble and the most demonstrable example of the Street taking advantage of clients, then I don't know what is.

The US stock markets, and the banking sector in particular, have been on a tear since Trump's election. Here's a factual look to determine if all of the capital appreciated hoopla is really worth it.

President Obama implemented the Fiduciary Rule, which was supposed to go in effect next month. In short, it says financial advisors and salesmen had to put the interests of their clients ahead of thier own interests. In other words, it outlawed blatantly ripping off your clients. Trump came in and halted this, basically ensuring that it will still be legal to put your bonus pool's interest ahead of you client's interest. Cue in Goldman Sachs and Morgan Stanley. They have pulled off the heist of the decade, essentially selling 200 million digital tokens (they're calling them stocks) with no voting rights at a trailing P/S multiple of 60x and forward multiple of 20x for a startup losing half a billion per year, with said losses increasing over $200M Y-o-Y. This is almost the ultimate in reward free risk