Five bullet Friday - issue #111

     Bitcoin started regaining momentum after the recent attacks from China. Since Bitcoin sets the mood for the crypto market in general, many smaller coins started moving up a lot. Based on the number of proprietary indicators, I expect this bull run to continue till the end of next year.

1.  It appears to me that we have these debates about raising the nation's debt ceiling every alternate year. No matter what the debate is it has been raised more than 50 times in the past. The US government's revenues are down more than 50% from last year. The only way our government can keep doors open is by printing money. As long as they keep printing money t is bullish for bitcoin and other crypto assets.

2. Slowly I am losing trust in all the numbers that are put out by any government entities. The only numbers I trust now are those that come from a public blockchain like bitcoin or Ethereum. Our current government inflation numbers say it is 1.5%. When you look around, you will notice that many commodities that are plentiful like iron, have gone up a lot. Look at the price rises in common commodities:

Oil +80%
Corn +69%
Steel +145%
Wheat +25%
Coffee +34%
Cotton +35%
Copper +50%
Lumber +126%

Money Supply +24%

3. We currently have a large position in the Klima token acquired around $250. KlimaDAO has already acquired 1.7 million tonnes of Base Carbon tons (BCT) from various brokers. The size of the carbon credit market in 2020 was $272 billion. Ethereum aids the carbon market in 2 ways. 1. As a settlement /registry for tokenized carbon credits 2. by financializing tokenized carbon credits via DeFi markets. These credits need to be purchased by the polluters.

4. This week we have not claimed our Synthetix staking income as we are not in the collateralization ratio. Now you can see our REN darknodes position on our zapper portfolio:https://zapper.fi/account/0xe787deec0be77db98a1294193e2c1600c8a8687d

REN is not producing as much income as before. Please note that one of our largest positions is the KLIMA token but it is currently not showing in Zapper or Debank. It will reflect only after it is launched on Polygon network.

5. I am delighted to announce that one of the partners in the fund, Dr. Anil Shah (3rd from the right in the below picture) was honored with the Builder of Berkeley award by the Chancellor of Berkeley university. This was bestowed for his leadership of the Smart Village Movement(SVM) in alliance with UC Berkeley. I am enormously impressed by all the work done by SVM in promoting healthcare, education, sanitation, and technology in rural villages in India. He was instrumental in changing the lives of hundreds of thousands of villages in rural India. Ravi Avadhanam and I have traveled to Berkeley university to attend the award ceremony. I am also a donor to the SVM project. I urge all of you to donate some money to the Smart Village movement from their website here: https://www.smartvillagemovement.org/

Have a wonderful weekend!

Sam Ikkurty