Time To Learn About Money

By Alasdair Macleod – Re-Blogged From Gold Eagle

An unexpected destruction of fiat currency has been advanced by the monetary and fiscal response to the coronavirus. Financial markets have yet to discount the possibility of such an outcome, but in the coming months they are likely to awaken to this danger.

The question arises as to what will replace fiat currencies. In the past the answer has always been gold but today there are cryptocurrencies as well, whose enthusiasts are more aware than most of fiat money’s failings.

This article describes the basics about money, what it is and the role it plays in order to understand what will be required by the eventual replacement for fiat. It concludes that gold will return as the world’s medium of exchange, and secure cryptocurrencies, unable to provide the scalability and stability of value required of a medium of exchange will be priced in gold after the demise of fiat. But then the rationale for them will be gone, and with it their function as a store of value.

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Bitcoin Myths

By Keith Weiner – Re-Blogged From Gold Eagle

“Money is a matter of functions four: a medium, a measure, a standard, a store.”

Most of the talk was structured around discussing these functions. Medium is pretty obvious: the dollar is the universal medium of exchange. It is basically frictionless, trading at zero spread (with perhaps a fee to wire dollars internationally). Bitcoin claims to be a medium, but it’s slow, can be expensive due to limitations of the blockchain. And as later confirmed by bitcoin proponents, bitcoin’s bid-ask spread is wide and can widen unpredictably for large orders. Like $5,000.

Even in cases where bitcoin is a medium, there is a third-party currency exchange broker who finds a fourth party who wants to buy bitcoin. The merchant gets the dollars he really wants, the customer pays in bitcoin, and the fourth party buys the bitcoin and provides dollars to the merchant. All for a fee charged by the broker.

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Deep State And Financial Powers Worry About Alternative Currencies

By Mike Gleason – Re-Blogged From Silver Phoenix

As markets continue to gyrate on global trade and tariff threats, precious metals are struggling to capture investor interest.

Lately, the big push in alternative assets has been in Bitcoin. The cryptocurrency has doubled in price over the past two months, though it remains well below its old high.

The full implications of new U.S. tariffs and retaliatory tariffs by China have yet to be reflected in markets. The media has reported on how tariffs could help or hurt particular industries. American farmers, for example, are worried they will suffer most from Chinese retaliation.

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Why Central Banks Could Mint Their Own Digital Currency

Re-Blogged From Stratfor

Highlights

  • Only 8 percent of global financial transactions today involve cash, but that figure will diminish even further as digital currencies gain prominence.
  • Faced with the growth of cryptocurrencies such as bitcoin, central banks around the world will continue their research into introducing their own digital currencies.
  • By entering the market for cryptocurrencies, central banks could pose a profound threat to the commercial banking business model.

A worker passes a bitcoin mining operation in Quebec in March 2018.

(LARS HAGBERG/AFP/Getty Images)

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The Skyrocket Phase

By Keith Weiner – Re-Blogged From http://www.Gold-Eagle.com

Let’s tie two topics we have treated, one in exhaustive depth and the other in an ongoing series. They are bitcoin and capital consumption. By now, everyone knows that the price of bitcoin crashed. Barrels of electrons are being spilled discussing and debating why, and if/when the price will go back to what it ought to be ($1,000,000 we are told).

As an aside, in what other market is there a sense of entitlement of what the price ought to be, and a sense of anger at the only conceivable cause for why the price is not what it ought?

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The End Of The Silver Manipulation

By Chris Marcus – Re-Blogged From Miles-Franklin

During a recent interview, First Majestic Silver CEO Keith Neumeyer shared some interesting comments about the silver market. In particular he spoke about a development that could lead to the end of the ongoing manipulation.

For those not familiar, Neumeyer is one of, if not the only mining CEO to speak publicly about the manipulation that has left silver prices suppressed. His interviews always offer insightful commentary, and this latest one covered what could be a game changing event for the price of silver.

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Gold-Backed Cryptocurrencies: Icing On An Already Tasty Cake

By John Rubino – Re-Blogged From Dollar Collapse

The blockchain has discovered gold (or gold has discovered the blockchain). Either way, this means several things. First, the decades-long dream of a gold-backed cybercurrency may finally be realized. Second, gold and probably silver are looking at a big new source of physical demand. Third, the huge number of gold-related initial coin offerings (ICOs) in this largely unregulated pipeline will require buyers to learn how to tell the legitimate offerings from the scams.

Two probably-legitimate examples:

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Equities Within A (HYPER) Inflationary Spiral

By Michael Ballanger – Re-Blogged From http://www.Silver-Phoenix500.com

Before I launch into one of my classic, bitter, vitriolic diatribes against all forms of modern-day interventionalist-type, fraudulent excuses for what use to be “free markets,” have a gander at the chart below. Pay particular attention to the smiles on all of those beaming faces. . .

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This Concept Called ‘VALUE’!

By Don Swenson – Re-Blogged From Kingdomecon

The Millennial generation (those in the 19-34 age bracket) desire to change our monetary system so that a decentralized system emerges. Cryptocurrencies are their attempt for inventing this decentralized marketplace. I fully agree with the general ‘intentions’ of these millennials. But do these folks understand what they are proposing? I, personally, don’t think so. What we need to understand is this inner concept called ‘Value’ and why this concept is key to all money proxies. Let’s think on this concept for a few minutes!

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Washington Post Ominously Warns That Bitcoin Is Being Used By ‘Extremist Groups’

By Michael Snyder – Re-Blogged From http://www.Silver-Phoenix500.com

Demonization is the first step toward making something illegal.  Over the past couple of months, Bitcoin and other cryptocurrencies have experienced a tremendous surge in popularity.  Personally, I was completely floored the other day when my nephew wanted to ask me questions about investing in Bitcoin.  It seems like the whole world is getting caught up in the cryptocurrency revolution, and needless to say, the powers that be cannot be thrilled about this.  Independently-controlled cryptocurrencies represent an existential threat to the global debt-based central banking system that we have today, and so the elite have a very strong incentive to bring about the demise of Bitcoin and other emerging cryptocurrencies.

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98,750,067,000,000 Reasons To Buy Gold In 2018

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

World equity index market capitalization touching distance of $100 trillion dollars at beginning of December
– Key indicators across global financial markets are looking decidedly bubble-like
– Little indication that we are through the worst of the financial crisis that started in 2007

– Apparent lack of concern regarding the over-heated and overpriced markets
– Since financial crisis gold has climbed nearly 124% in EUR, 190% in GBP and 98% in USD
– Goldcore’s latest podcast covers gold’s role in 2018 in the land of bubbles

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Blockchain is More Than Bitcoin

By Chris San Filippo

[Chris works for Anchor Free, a VPN provider. -Bob]

Blockchain Technology Is Surging In Popularity

Blockchain is the technology that powers Bitcoin and a host of other cryptocurrencies. The blockchain contains a ledger which holds all previous transactions. The computers that process these transactions are called “miners,” and exist as a decentralized network throughout the world. With the blockchain, internet users can send money across the world without the need for a bank. The funds can settle in an hour or less, while international bank wires can take days to complete.

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Europe, Brexit And The Credit Cycle

By Alasdair Macleod – Re-Blogged From http://www.Silver-Phoenix500.com

Europe’s financial and systemic troubles have retreated from the headlines. This is partly due to the financial media’s attention switching to President Trump and the US budget negotiations, partly due to Brexit and the preoccupation with Britain’s problems, and partly due to evidence of economic recovery in the Eurozone, at long last. And finally, anyone who can put digit to computer key has been absorbed by the cryptocurrency phenomenon.

Just because commentary is focused elsewhere does not mean Europe’s troubles are receding. Far from it, new challenges lie ahead. This article provides an overview of the current state of play from the European point of view, and seeks to identify the investment and currency risks. We start with Brexit.

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Year-End Rate Hike

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

FOMC follows through on much anticipated rate-hike of 0.25%
– Spot gold responds by heading for biggest gain in three weeks, rising by over 1%
– Final meeting for Federal Reserve Chair Janet Yellen
– Yellen does not expect Trump’s tax-cut package to result in significant, strong growth for US economy
– No concern for bitcoin which ‘plays a very small role in the payment system’

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Monetary Update for the Dollar

By Alasdair Macleod – Re-Blogged From GoldMoney

A dispassionate look at the quantities and flows of fiat dollars tells us much about the current state of the US economy, and therefore prospects for the dollar itself. This is a starting point for understanding the dynamics likely to affect the dollar’s purchasing power after the next credit-induced crisis, which are now beginning to clarify. That is the purpose of this article, which starts by updating the most recent developments in the quantity of fiat money (FMQ), the greatest of all monetary pictures.

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An Interview With GoldCore Founder

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

Uber-bull predictions of gold at over $5,000 per ounce are not beyond the realms of possibility…”

So says GoldCore founder and self-confessed gold bug, Mark O’Byrne.

Indeed, I recently caught up with Mark to get his thoughts on gold and what’s going on with it right now…

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Hypocrisy Most Foul. . .

By Michael Ballanger – Re-Blogged From http://www.Gold-Eagle.com

As you all know by now, I have absolutely zero knowledge of anything related to the “blockchain” technology, which translates into “I don’t own Bitcoin and would not touch HIVE Blockchain Technologies Ltd. (HIVE:TSX.V; PRELF:OTC) with a barge pole.” That also means that I am constantly being reminded, primarily by those considerably younger than me, that geriatric anchoring is costing me (and my readers) a great deal of money by avoiding the space which, as you can see from the chart below, has been absolutely true.

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Stocks vs Gold

By Jeff Clark – Re-Blogged From http://www.Gold-Eagle.com

I gave a presentation to some corporate board members recently, and they had one primary question on their mind. Why is overall gold demand weak?

These are smart people. They’re successful, both professionally and with their investments. They even believe in owning a little gold. But they’ve been puzzled by the significant drop in demand for physical metal. They had some ideas, which were mostly right, but their main concern was if they were overlooking some critical factor that was making other investors ignore gold.

What was especially interesting was their reaction. Once they grasped the reasons why physical demand has been down, they instinctively concluded that they needed to buy more of it. Now.

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Trojan Horse Before Wall Street

By IM Vronsky – Re-Blogged From http://www.Gold-Eagle.com

The generally accepted definition of TROJAN HORSE (*) is a person or thing intended secretly to undermine or bring about the downfall of an enemy or opponent. In today’s world, the THE Trojan Horse is Bitcoin – manned by ‘geeks’ using the unbridled greed addiction to attract naïve, innocent and ignorant investors of Troy (i.e. Wall Street).

However, many worldwide recognized monetary mavens, pundits, gurus and experts have emerged to inform and alert the investing world to the eventual dire consequences of the phony currency labeled Bitcoin. Here following are just a few sage well supported views condemning the Bitcoin scourge.

broken bitcoin

 

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Bitcoin: A Chapter In The History Of Mass Speculation

By Hugo Salinas Price – Re-Blogged From http://www.Silver-Phoenix500.com

Empire Strikes Back – At Bitcoin

By John Rubino – Re-Blogged From Dollar Collpse

One of the uncertainties with cryptocurrencies has always been how governments would react once bitcoin and its kin got big enough to actually threaten the monopolies of national fiat currencies.

That day seemed to be approaching as cryptocurrencies’ aggregate market cap blew through $100 billion and the pipeline of new bitcoin wannabes (initial coin offerings, or ICOs) swelled into the hundreds. Even – in a classic sign of a bubble top — Paris Hilton got involved:

Hotel Heiress Paris Hilton Is the Latest Celebrity to Promote an ICO

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Bitcoin Plummets 20% As Mobius And Chinese Regulators Warn

By Mark O’Byrne – Re-Blogged From http://www.Silver-Phoenix500.com

– Bitcoin falls 20% as Mobius and Chinese regulators warn

– “Cryptocurrencies are beginning to get out of control” – warns respected investor Mark Mobius – Mobius believes governments will begin to clamp down on cryptocurrencies sparking rush to gold – Yesterday China’s PBOC ruled Initial Coin Offerings (ICOs) are illegal and all related activity to halt – China is home to majority of bitcoin miners – Paris Hilton latest celebrity to support an ICO – Gold’s return of 16% YTD look ‘dull’ or ‘stable’? – Bitcoin fell 23%, now down 16% from $5,000 high

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Protect Your Wealth from Hackers

By Stephan Gleason – Re-Blogged From Money Metals Exchange

Could your wealth be hacked? It’s a threat most investors overlook. But they do so at their own peril.

If elections can be hacked, then so can bank and brokerage accounts, as well as any online platforms for digital currencies.

More than five months into Donald Trump’s presidency, the “Russia hacked the election” conspiracy theories still won’t go away. They’re expanding to also implicate Russian hackers for meddling in elections in France and elsewhere. The latest Russian hacking story centers on Qatar.

Hackers

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The Cryptocurrency Market is Exploding. Here’s What You Need to Know.

[It’s an interesting concept, but I can’t see how a private currency – backed by nothing of intrinsic value – can command a price above zero. -Bob]

By Chelsea Gohd – Re-Blogged From Futurism 

On April 1, 2017, the total market cap for all cryptocurrencies was slightly higher than $25 billion. Roughly two months later, the cap exceeded $100 billion. In just over 60 days, the value of cryptocurrencies surged by 300 percent. So what is going on?

The leading cryptocurrency, Bitcoin,  recently made headlines by climbing dramatically in value (it’s currently sitting around $2,600 USD, about 160 percent higher than its value in April). But Bitcoin hasn’t been alone in this extreme growth. The cryptocurrency market as a whole has spiked in value within the last few months.

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Bitcoin Worth $72 Million Stolen From Bitfinex Exchange in Hong Kong

By Clare Baldwin – Re-Blogged From Yahoo!

HONG KONG (Reuters) – Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange.

Bitfinex is the world’s largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair.

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