Hello Inflation, Goodbye Transitory
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Investing News, Views, Term, Headlines
A Conversation With 🎙 Spoiled Banana Society
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This holiday season, investors in both traditional and cryptocurrency markets have been served a whole lot of pie, and it hasn't been the good kind. US Officials led by Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen finally gave up the charade of calling inflation “transitory.” Powell said during a congressional hearing on Tuesday:
We tend to use [transitory] to mean that it won’t leave a permanent mark in the form of higher inflation. I think it’s probably a good time to retire that word and try to explain more clearly what we mean.
Secretary Yellen echoed Powell’s words in an interview with Reuters on Thursday:
I am ready to retire the word ‘transitory.’ I can agree that hasn’t been an apt description of what we are dealing with.
With inflation rising quickly and now “expected” to continue higher in the next year, technology and riskier assets have come under increasing pressure. Cryptocurrency markets were hit hard with a near 30%+ sell-off in typical crypto fashion…with a quick crash. The SEC did the market no favors as they rejected WisdomTree’s Spot Bitcoin ETF application with the following statement:
The Commission concludes that BZX has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirement that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors and the public interest,’ the agency wrote.
The roller coaster continues. Short-term sentiment looks rough, but it’s not time to panic. Focus on your long-term plan and think about where you can benefit in the short-term. As Warren Buffett once said, “be fearful when others are greedy, and greedy when others are fearful.”
Term of the Week - Inflation
Meet Purrfessor Cool! A cat determined to make education cool again. Our newest innovation and chance to showcase NFTs and their utility.
🟣 Square changes name to Block
📆 Wednesday, 12/8 @ 7PM ET: Richard Vagner (Spoiled Banana Society)
This Wednesday, we welcome Richard Vagner, one of the founders of the Spoiled Banana Society to talk all things sports, investing, music, and NFTs. In preparation for our audio conversation, we spoke with Richard via email while he was in Miami to get more detail about the upcoming release of his project and showcase it’s uniqueness. Join us live on Twitter Spaces to learn more and find out who wins free entry into the society!
What is the Spoiled Banana Society?
Spoiled Banana Society (SBS) was created by a group of 12 Bored Ape Yacht Club Members longing to build fantasy sports leagues on the blockchain for the enjoyment of the community.
Our 10,000 SBS Genesis Cards minted on the Ethereum blockchain doubles as your membership and gives you access to the Spoiled Banana Society benefits including playing each year in our SBS Genesis League with no further purchase necessary.
Our Mission is to create a lifestyle brand which redefines, innovates, and propels the NFT culture through transparent fellowship, enjoyment of sports, and giving back to society.
When is the release, mint date, and price to become a member of the Society?
The release date is December 9th for pre-sale and December 13th for public launch! .08 ETH will be the price to get an NFT and enter the society. Once all 10,000 NFTs have been sold, you will only be able to buy from other users who own one.
How will members benefit from investing early in the SBS?
We plan to work every day to add benefits, but these include: first access to future sports leagues (we plan to do basketball next, then soccer), exclusive merchandise drops, free entry poker tournaments, metaverse and in person events.
What does 2022 look like for SBS?
If all goes well, we plan to expand to all sports and even go bigger with music, art and life. 2022 will probably bring the addition of basketball, soccer and maybe baseball!
Favorite sport, team, player?
I’m a huge football guy and the answer to the question: who’s the BEST team/player is Patrick Mahomes Kansas City Chiefs…let’s gooooo!
Finish this sentence: Investing early means…
Getting rekt 99 percent of the time and hitting gold 1 percent of the time, but then again, I’m not an investor so I don’t really know, to be honest. Also this is not an investment. I think my lawyer would kill me if I didn’t say that.
Who invested early in you to get you where you are today?
The community and that’s the power of NFTs. But me personally, I would say my brother first and foremost, my family (you know who you are) and myself.
What is one thing you did to invest early in yourself?
I played music for days on end when I wanted to quit. At the time, I didn’t know i was investing in myself, but looking back that’s probably the reason I don’t have a huge friend group lol.
Biggest takeaway and experience to date with getting the SBS project off the ground?
I would say dealing with people, I’ve learned to not trust/give anyone anything until they’ve proven to you they’re actually there to work. Hard because people make promises but only time will tell and I believe in karma.
*Mint at spoiledbananasociety.com, join the discord, and join us Wednesday.
The Audio Series 🎙 now on iTunes & Spotify!
🟣 “A Conversation With” podcast is now on Apple iTunes & Spotify. Click the link to your preferred streaming service and never miss an episode. Listen in the car, at the gym or wherever you choose to press play.
On Episode 9 of “A Conversation With” podcast, we welcome Kevin Svenson, a professional cryptocurrency trader and investor. He explains the thousands of hours dedicated to studying the market in his self-taught investing journey, his personal strategies and how he uses on-chain metrics in his analysis. Click here to listen and learn from this enlightening conversation.
❤️🧡 Together with alternative Assets 🧡❤️
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