Don’t Get Mad About Dogecoin’s 8,800% Return… Get Rich
Andy Snyder|April 21, 2021
A man stopped by the farm on Sunday.
He was picking up something for his wife.
As Mrs. Manward packed things up, we wiped our brow and commented about the springtime heat.
“It was 33 at sunrise this morning,” we said. “And now I’m down to a T-shirt and sweating. It feels good.”
“You know what else is too hot,” the man injected as if begging for a cue. “The economy. Something is wrong with it.”
We could feel the tires of this conversation chattering across the asphalt as the whole thing made a quick and surprising turn.
This man was reaching for high gear.
What a Mess
We listened to the monologue that followed for the next couple of minutes, nodding as he went.
He covered a lot of ground – most of it was good ground.
He talked about inflation… the cancer in the bond market… money printing… even crypto.
“Have you ever heard of Dogecoin?” he asked.
Not wanting to hinder what the man was about to say, we nodded and said we’ve read the headlines. We didn’t let on that we are behind one of the hottest crypto-focused research services around.
“What a mess,” he said. “Elon Musk and these guys keep pushing and pushing things higher. The coin has about as much utility as a rock… and yet it’s soaring.”
“Crazy,” we said, nodding along.
Mrs. Manward shot us a side-eyed glance and used many years of marriage to unconsciously tell us not to get into it with her customers.
“They’re going to cash out at the top and mess it up for everybody else.”
“The whole market is a mess,” he said. “It’s hot in all the wrong places.”
“Annnnnd there you go,” Mrs. Manward stepped in and said. “Your wife will love them.”
We wiped our sweaty brow, rolled up our sleeves and went back to work… enjoying the fact our feet weren’t aching from the cold.
Right in All the Wrong Places
While some of the facts the man spouted were a bit exaggerated, his overall thesis was spot-on.
Things are messed up.
In the words of our famed contributor Joel Salatin… “This ain’t normal, folks.”
The man said the Fed has printed $10 trillion in the last six months. At $4 trillion, the true number is less than half his quote, but it’s still monstrous.
What has gone up by $10 trillion, though, is the M1 money supply – hard currency and bank deposits.
And he’s right that it’s quite odd that the Fed has chosen right now to stop reporting the number the way it traditionally has – instead opting for a new, “better” monthly figure.
He also mentioned the bond market and how Russia has stopped buying Treasurys.
Again… he was close.
Things are actually the other way around.
Rather weak sanctions from the Biden administration now bar banks and institutional investors from buying new Russian bonds at auction. They can still buy them on the secondary market – where a ban would have caused real pressure. (The market hardly moved on the news last week.)
Even with the facts askew, we give the man a tip of our hat.
He knows more than the average fella about what’s happening around him.
And, besides, when it comes to the important conclusion, he’s 100% right.
Things are messed up.
The Fools and Their News
Indeed, Dogecoin has soared 8,800% so far this year. Its real value is no different today from in January.
Then again, folks who bought at the bottom – or just last week – likely aren’t complaining.
The action will create trouble… someday. The fools at the top will get rich on the backs of the fools at the bottom.
But is that anything new?
We say it’s not the gains folks are upset about. It’s the new and odd way they’re coming about.
Like a newborn screaming as he explores his newfound voice, the market is exploring its newfound power. Suddenly, it realized the internet makes a wonderful platform for the manipulation of the truth.
GameStop can soar… if enough folks want it to.
Dogecoin can go to a buck… if that’s what the crowd decides.
But then again, this is not a tragedy solely borne by investors.
Many wonder if COVID isn’t CNN’s version of GameStop… Many more believe democracy is dead… or that capitalism has failed. That’s where the crowd sure seems to be going.
The streets are filled with folks who know just enough truth to be dangerous as they organize in ways never before possible.
It’s a heat wave, to be sure.
Our advice, though, remains the same as it’s always been.
Wipe your brow and keep working.
Know what’s true. And what’s not.
Know what’s stayed the same. And what has changed.
Last fall, we introduced our readers to a powerful tool – the Modern Asset Portfolio. It’s purpose-built to bust through the noise and the hype to help investors build a reliable source of wealth-generating income.
It harnesses the heat that’s building and helps to sort through the noise to create a rather conservative “base” portfolio that’s in tune to the forces moving the markets these days.
It’s working wonderfully.
Thanks to understanding the truth behind crypto… we’ve got a digital money play that’s up 275% in less than seven months. We’ve got a buyback stock up by 90% in about a year. And we’ve got a solid blue chip up by 85% in just a year.
The man at the farm was right.
It is getting hot.
Folks don’t get rich when things are ice-cold.
P.S. We recently told our subscribers about a red-hot tech play… and it’s flat-out soaring. It’s a 5G-busting pre-IPO play that anybody with just a few bucks can get in today. Check it out here.
Andy Snyder is the founder of Manward Press, the nation’s premier source of unfiltered, unorthodox views on money and what it means for a free society. An American author, investor and serial entrepreneur, Andy cut his teeth at an esteemed financial firm with nearly $100 billion in assets under management. Andy and his ideas have been featured on Fox News, on countless radio stations, and in numerous print and online outlets. He’s been a keynote speaker and panelist at events all over the world, from four-star ballrooms to Senate hearing rooms. Today, Andy’s dissident thoughts on life, liberty and investing can be found in his popular daily newsletter, Manward Financial Digest.