{"id":89666,"date":"2026-02-02T08:12:25","date_gmt":"2026-02-02T08:12:25","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=89666"},"modified":"2026-02-02T08:12:25","modified_gmt":"2026-02-02T08:12:25","slug":"none-of-this-makes-sense","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/02\/02\/none-of-this-makes-sense\/","title":{"rendered":"None of this makes sense"},"content":{"rendered":"

Whilst looking at the prices of gold, silver, and oil this morning<\/a>, I thought I might also take a look at the price of Bitcoin, as the symbol of the crypto industry, which recently arrived to promote. This is the chart Google supplies:<\/p>\n

\"\"<\/p>\n

I chose 5 years to add a little perspective.<\/p>\n

The Trump boom, which started in late 2024, is not over yet, but like gold, silver, and oil, the price of Bitcoin is plummeting. It is also not a safe haven from reality, as has always been obvious.<\/p>\n

Now, I know, part of this might be down to pressure on the dollar. But not enough to explain the falls in the price of anything I have looked at.<\/p>\n

So, the only question left is, why is the S&P 500 doing so well? Its chart looks like this:<\/p>\n

\"\"<\/p>\n

The FTSE100 is also largely unharmed by changes in the prices of all the commodities I have noted.<\/p>\n

\"\"<\/p>\n

Why is the question? It's down to exuberance, again. None of this makes sense, as almost everyone knows.<\/p>\n","protected":false},"excerpt":{"rendered":"

Whilst looking at the prices of gold, silver, and oil this morning, I thought I might also take a look at the price of Bitcoin,
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