American Consequences - July 2017

American Consequences - July 2017

‘YouWant Winners?’ A Story of Rampant Speculation How to Choose Wine Like a Snob AMERICAN CONSEQUENCES I D E A S T H A T M A T T E R E D I T E D B Y P . J . O ’ R O U R K E Wall Street’s Last Great Party Boy

CRYPTO- PEAK?

From exotic dancers to hedge fund managers, they’re all getting into the same trade

JULY 2 0 1 7

50% OF SILICON VALLEY BILLIONAIRES NOW PREPARING FOR A CRISIS? While middle class Americans are pouring money into the stock market… Some of the richest people in Silicon Valley are doing something that is pretty much the exact opposite.

I’m talking about folks like: Peter Thiel (founder of Paypal) Steve Huffman (founder of Reddit) Mark Zuckerberg (founder of Facebook) Tim Chang (of Mayfield venture capital) Larry Ellison (founder of Oracle) Reid Hoffman (founder of LinkedIn)

If you care about your family… your money… and your future, I strongly encourage you to find out what these folks are doing… And why it might be important for you to do something similar… right away. Everything is explained on my research firm’s website, right here… P.S. Most Americans don’t know there’s one simple and very inexpensive thing you can do to protect yourself. Learn more here…

CONTENTS

JULY 2 0 1 7 : I SSUE 2

LOST? CLICK HERE

26 62

66 22

70

Editor in Chief: P.J. O’Rourke Editorial Director: Carli Flippen Managing Editor: Steven Longenecker Contributing Editors: Bill Bonner, Rory Carroll, Tama Churchouse, Turney Duff, Dr. David Eifrig, Raoul Pal, Todd Prince, Buck Sexton, Teeka Tiwari, Greg Wilson, Gray Zurbruegg Newswire Editors: Scott Garliss, John Gillin, Greg Diamond Creative Director: Erica Wood Cartoon Director: Frank Stansberry Contributing Cartoonists: Clay Bennett, Chip Bok, John Deering, Lee Judge, Bob Thaves Contributing Artist: Bridgette Jester General Manager: Jamison Miller Advertising: Sam DeCroes, Jared Kelly Advertising inquiries: advertising@ americanconsequences.com Editorial feedback: feedback@ americanconsequences.com AMERICAN CONSEQUENCES

06 Letter From the Editor

76 What 'America First' Means BY BILL BONNER

14 Financial Follies

79 Reading & Quoting

16 What Moved the Market

80 The Final Word BY BUCK SEXTON

18 Last Great Party Boy BY TURNEY DUFF

84 Featured Contributors

22 Choose Wine Like a Snob BY DR. DAVID EIFRIG

CRYPTO-PEAK? 32 A Mania Price Explosion BY RAOUL PAL

26 A Conversation With... SARA CARTER

38 'You Want Winners?' BY TAMA CHURCHOUSE

56 Look Inside Real-World Portfolios

62 What's the Connection BY PJ O'ROURKE

44 The New E-mail BY TEEKA TIWARI

66 Republicans Are the New Punk BY RORY CARROLL

50 How to Vanish With $1 Million BY GREGWILSON

70 Accidental Discoveries in the Galapagos BY GRAY ZURBRUEGG

52 The Bare Facts BY TODD PRINCE

American Consequences | 3

INSIDE THIS ISSUE

I n our July issue of American Consequences , we’re tackling bitcoin, blockchain, and cryptocurrencies – with the risks and the opportunity explained in plain language. Editor in chief P.J. O’Rourke leads the way in explaining why he feels guilt about cryptocurrencies instead of the usual fear or greed. Bestselling author Turney Duff shares a wild tale about the dying art of wining and dining on Wall Street. Owner of Eifrig Cellars, Dr. David Eifrig , has one rule to follow when choosing and drinking wine. And we talk with award-winning national security correspondent Sara Carter . Then we’re back on cryptocurrencies – bringing you a balanced perspective... Goldman Sachs alum and Real Vision founder Raoul Pal turns bear, dumping his bitcoin position for 7.5 times his money. He says get out of the bubble now. Hong Kong-based Tama Churchouse predicts the crypto speculation is just getting started. He’s cautiously optimistic on sorting the winners from the losers. Bitcoin has rocketed from a low of 75 cents to more than $3,000 at its height – an astronomical 400,000% gain. Teeka Tiwari

Crypto guru Teeka Tiwari says bitcoin is the new e-mail... and reminds us that bitcoin has been “dead” 129 times before. He sees massive upside, with his recommended positions up thousands of percent. Finally, we’ll close out our bitcoin musing with an exclusive look inside a new Las Vegas crypto strip club from veteran reporter Todd Prince . When exotic dancers get on board, is it a sign of the top? Next, we’ll peek into more than a dozen real- world portfolios – from traders and finance folks to legends like Ronald Reagan’s most- quoted author George Gilder and natural- resource speculator Doug Casey . (If you’ve ever wondered about gold vs. bitcoin vs. the U.S dollar, this one is for you.) Rory Carroll profiles right-wing street artist Sabo (“Republicans are the new punk,” he says), while underground news founder Bill Bonner explores maybe the biggest idea for our magazine... what it means to be an American. And Gray Zurbruegg, president of The Atlas 400, brings us “stay, drink, and try” recommendations from an adventure to the Galapagos Islands. Finally, nationally syndicated talk radio program host Buck Sexton will close us out with a look at a worldwide cyber war... from bitcoin ransoms to mass >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86

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