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

After reading what is essentially Fake News about Bitcoin from Financial Times, London Business School and Credit Suisse, I have created an easy to understand metric that allows anyone to compare the risks and rewards of Bitcoin to basically any currency, commodity, stock or asset class.

BTC vs Eur risk vs reward

There is no such thing as a trustworthy trusted partyCredit Suisse has been posting cryptocurrency advisories over the last few weeks. They are quite one-sided, although couched in the appearance of objectivity. To explain why it's couched in the appearance of objectivity, and not actually objective, let me give you some background. 

Our HSBC research report released September of 2016 has proven to be 110% correct. This is the first sentence of our report:

HSBC Common Equity Returns: Notwithstanding a possible boost from significant depreciation of the pound and their beating (already lowered) analysts’ expectations, it looks as if the market has not sufficiently discounted HSBC’s price given it’s extremely negative fundamental, credit and macro outlook. 

This morning the company reports an 82% drop in year over year earnings. Bloomberg reports HSBC Plunges After Missing Profit Estimates on Revenue Drop

HSBC Holdings Plc dropped the most in 18 months in London trading after reporting fourth-quarter profit that missed estimates on a surprise drop in revenue, which it warned could fall again this...

Net Interest income (US$ billion)