Lol, it seems to me that he's kidding, but I'm not sure.
Heh, ya, he was kidding -- trying to downplay the news of the china/brazil central bank liquidity swap. Details here:
- http://www.marketwatch.com/story/china-brazil-in-30-billion-currency-swap-deal-2012-06-22-6103239
He's got a point. This single event from two of the largest economies in the world barely got any press, likely because the combined GDP of these two countries is more than 250 times the size of this agreement. But the agreement is a significant development though.
But even so, the size of this agreement is also 500 times the size of the current value of all bitcoins combined. i.e., Cramer couldn't have picked any other two currencies with less relevance to help him make his point.
Cramer is past the "first they ignore you", but still stuck in the "then they laugh at you".
But you gotta wonder who bought all the bitcoins in January to cause it to spike from $4 and change to $7. It wouldn't be a surprise to me if he a picked up a few himself. YTD, bitcoin is beating the snot out of all his other of his investments ( http://www.gainerstoday.com/Jim-Cramer-Charitable-Trust-Stocks-Stock-Market-Picks ... well, except for the $AAPL).
- http://www.gainerstoday.com/Jim-Cramer-Charitable-Trust-Stocks-Stock-Market-Picks
