Source: decrypt.co
The Petro Dollar, China, and CBDC’s – Derrick Broze 6/21/24
Source: TheLastAmericanVagabond.com
Recent viral reports claim the United States and Saudi Arabia have ended their long-standing petrodollar agreement. Are these claims based in fact? And what do recent agreements between the Saudi Kingdom and China mean for the U.S. dollar?
Continue reading “The Petro Dollar, China, and CBDC’s – Derrick Broze 6/21/24”
Tornado Cash Developer Sentenced to Prison for the Crime of Writing Privacy Preserving Software the State does not Like – Andrea Togni 6/13/24
Source: Mises.org
On May 14, Alexey Pertsev, one of the lead developers of Tornado Cash (TC), was found guilty of money laundering by a Dutch court and sentenced to sixty-four months in prison. TC is a privacy-preserving protocol developed for the Ethereum blockchain: it allows users to deposit funds in a TC pool and withdraw them to a different address, thus making it impossible for external observers to track financial activity. TC is completely noncustodial, meaning that users are in control of their own money at every step of the process. In other words, developers do not have any technical means to control how individuals interact with the TC smart contracts.
Hyperinflation and the Destruction of Human Personality – Joseph T. Salerno 5/30/24
Source: Mises.org
The Link between Economic Calculation and Human Personality
Economists and historians have clearly shown that the destruction of the value and function of money by hyperinflation makes economic calculation impossible and leads to economic and social disintegration and widespread poverty. What is not so clearly understood, even by many economists, is that during periods of rapid inflation, the inability to economically calculate undermines the very nature of property and causes a withering of the human personality, which is intimately connected with property ownership. By eliminating the means of appraising and rationally allocating one’s property, hyperinflation eliminates the very basis of independent human existence and personality under a system of social cooperation. The inevitable result is the dissolution of the society of voluntary contract and its replacement by a hegemonic order in which property and personality are collectivized.
The Arrest of Samourai Wallet Developers Shows the US Government Hates Privacy and Freedom – Andrea Togni 5/9/24
Source: Mises.org
On April 24, two lead developers of Samourai Wallet (SW), the most-advanced privacy-centric wallet in the bitcoin ecosystem, were arrested and charged with money laundering and money transmitters offenses by order of the United States Department of Justice (DOJ). This is just the latest assault of an escalating war waged by US regulators on financial privacy and freedom.
JPMorgan Chase and its Regulators are Hiding Dark Trading Secrets at the Largest and Riskiest U.S. Bank – Pam Martens and Russ Martens 5/7/24
Source; WallStreetOnParade.com
Last Wednesday, JPMorgan Chase, the publicly-traded parent of the largest federally-insured bank in the United States as well as a five-count felon, revealed in a filing with the Securities and Exchange Commission that on top of the $348 million it paid out in March to two of its banking regulators for sketchy trading violations involving “billions” of trades on 30 global trading venues, it “expects to enter into a resolution with a third U.S. regulator that will require the Firm to, among other things, pay a civil penalty of $100 million….” (See “Trading Venues Investigations” on page 168 of the SEC filing at this link.) JPMorgan Chase did not name this third regulator but Bloomberg News reported that it is the Commodity Futures Trading Commission.
What Happened to Bitcoin? – Jeffrey A. Tucker 4/14/24
Source: Brownstone.org
Those who involved themselves in Bitcoin markets after 2017 encountered a different operation and ideal than those who came before. Today, no one much cares about what came before, speaking of 2010-2016. They are only watching the upward price momentum and are thrilled for the increase in the asset valuation of their portfolio.
Continue reading “What Happened to Bitcoin? – Jeffrey A. Tucker 4/14/24”
The Fed Has Negative Capital Using GAAP Accounting – Pam Martens and Russ Martens 4/11/24
Source: WallStreetOnParade.com
The Fed’s unprecedented experiments with years of ZIRP (Zero Interest Rate Policy) and QE (Quantitative Easing), where it bought up trillions of dollars of low-yielding U.S. Treasuries and agency Mortgage-Backed Securities (MBS) and quietly parked them on its balance sheet, are now posing a threat to the Fed’s flexibility in conducting monetary policy. (Since 2008, the Fed’s concept of conducting monetary policy has come to enshrine serial Wall Street mega bank bailouts as a regular part of its monetary policy. Large and growing cash losses at the Fed may seriously crimp such future bailouts.)
SEC Moves Against Decentralized Finance, Targets Uniswap – Rick Findlay 4/11/24
Source: ReclaimTheNet.org
The US Securities and Exchange Commission (SEC) has delivered an enforcement notice to Uniswap, a decentralized cryptocurrency exchange.
Known as a Wells notice, the enforcement wrangle points toward a future legal dispute between the regulatory body and Uniswap, reflecting its reputation as a precursor to enforcement actions.
Continue reading “SEC Moves Against Decentralized Finance, Targets Uniswap – Rick Findlay 4/11/24”
Costco Selling Up To $200 Million In Gold Bars Per Month, Wells Fargo Estimates – ZeroHedge 4/10/24
Source: ZeroHedge.com
Last December, wholesale retailer Costco announced that they had sold over $100 million worth of gold in Q3 2023.
“You’ve probably read about the fact that we’re selling one-ounce gold bars. We sold over $100 million of gold during the quarter,” sad CFO Richard Galenti.
Now, Wells Fargo estimates that Costco “may now be running at” $100 million to $200 million per month in gold sales.
Utah Formally Empowers State Treasurer to Protect State Funds with Gold and Silver – Jp Cortez 4/1/24
Source: Mises.org
Utah Governor Spencer Cox has signed legislation explicitly empowering the state treasurer to protect state funds with an allocation to physical gold and silver.
Five Banks Have a Combined Half Trillion Dollars in Commercial Real Estate Loans; Number 1 is JPMorgan Chase – Pam Martens and Russ Martens 3/28/24
Source: WallStreetOnParade.com
Yesterday, American Banker released a report showing that five banks in the U.S. hold a combined half trillion dollars in commercial real estate (CRE) loans. It came as a big surprise to a lot of folks that the bank holding the largest amount of CRE loans is JPMorgan Chase – whose bank holding company is also exposed to $49 trillion in derivatives as of December 31, 2023 according to the Office of the Comptroller of the Currency. (See Table 14 at this link.)
What is the Bitcoin Halving? Unveiling the Most Important Event in Bitcoin’s History – Brian Nibley 3/7/24
Source: FinanceMagnates.com
With spot Bitcoin ETFs having been approved the same year that the halving is set to take place, many newcomers to the space may be wondering: what is the Bitcoin halving? This is a common question among those wanting to learn more about the Bitcoin protocol. Expected to be the most important event in Bitcoin’s history, the 2024 halving is expected to occur sometime on or around April 13.
Here we will cover the basics of how the Bitcoin halving works, what the Bitcoin halving is, why it happens, and what it may mean for markets this year and beyond….
The 15 Years That Destroyed America – Paul Craig Roberts 11/29/23
Source: Unz.com
The United States Government today bears little resemblance to the government created by the Founding Fathers. Many “reforms” contributed to the transformation of an accountable government to an unaccountable one. For example, the direct election of US senators and the expansion of the franchise from male property owners adversely affected the security of private property. Others point to the effects of wars. All of these played a role in America’s destruction. However, in my opinion the transformation of American government can be explained by events in three short periods of our history.
Continue reading “The 15 Years That Destroyed America – Paul Craig Roberts 11/29/23”
Zimbabwe Turns Gold-Backed Digital Token into Payment Method – David Attlee 10/10/23
Source: CoinTelegraph.com
On Oct. 5, the gold-backed digital token called, Zimbabwe Gold (ZiG), officially launched as a payment method. The launch was announced by the Reserve Bank of Zimbabwe (RBZ).
Hedging the End of Fiat – Alasdair Macleod 8/24/23
Source: SchiffGold.com
It is slowly coming clear that the fiat dollar’s hegemony is drawing to a close. That’s what the BRICS summit in Johannesburg is all about — rats, if you like, deserting the dollar’s ship. With the dollar’s backing being no more than a precarious faith in it, it is bound to be sold down by foreign holders. Being only fiat, it could even become valueless, threatening to take down the other western alliance fiat currencies as well.
How do you protect your paper wealth from this outcome? Some swear by bitcoin and others by gold.
This article looks at what is likely to emerge as a replacement currency system, and concludes that from practical and legal aspects, bitcoin and the entire cryptocurrency industry will fail with fiat, while mankind will return to gold, as it has always done in the past when state control over currency fails
Continue reading “Hedging the End of Fiat – Alasdair Macleod 8/24/23”
How a CBDC Created Chaos and Poverty in Nigeria – Jan M. Fijor 9/1/23
Source: Mises.org
It is no coincidence that Nigeria, with a population of over two hundred million, became the first serious global testing ground for central bank digital currencies (CBDC) implementation. Not only is it the wealthiest country on the continent where the globalists are making plans, but Nigeria also possesses significant hydrocarbon and metals reserves and talented citizens. For these reasons, it can serve as a relatively good example for the rest of the poorest continents.
Continue reading “How a CBDC Created Chaos and Poverty in Nigeria – Jan M. Fijor 9/1/23”
Iran and Saudi Arabia are Among 6 Nations Set to Join China and Russia in the BRICS Economic Bloc – AP 8/24/23
Source: APNews.com
Iran and Saudi Arabia were among six countries invited Thursday to join the BRICS bloc of developing economies in a move that showed signs of strengthening a China-Russia coalition as tensions with the West spiral higher.
The United Arab Emirates, Argentina, Egypt and Ethiopia were also set to enter BRICS from Jan. 1, 2024, joining current members Brazil, Russia, India, China and South Africa to make an 11-nation bloc….
As Cuba Takes Leap Towards ‘Cashless’ Economy, Entrepreneurs Brace for Impact – Reuters 8/21/23
Source: Reuters
When Cuba in early August announced it was taking a major step towards electronic banking and a “cashless” society, the offices of fledgling small businesses across the communist-run country were left scrambling to figure out how to respond.
Most alarming to many budding entrepreneurs was a new 5,000 peso ($20) daily cap on cash withdrawals for businesses, one of several measures the government said were aimed at forcing Cubans to do their transactions electronically, via transfer, online payment and bank cards.
NAB, Comm Bank and ANZ Introduce New Transfer Restrictions that Give Them More Control of Your Money; as the Move to ‘Cashless’ Branches Rolls On – Daily Mail 8/6/23
Source: DailyMail.co.uk
Australia’s crypto community is up in arms as the Big Four banks move to stop transfers to digital currency sites in the name of ‘protecting customers’ from scams.
Daily Mail Australia reported on Sunday that the Commonwealth Bank has set a strict $10,000 monthly limit on the amount a customer can transfer to crypto exchanges and related sites.
It can now be revealed that this follows similar moves by NAB, Westpac and ANZ.
Poland Continues to Aggressively Buy Gold – Grzegorz Adamczyk 8/9/23
Source: RMX.news
The National Bank of Poland (NBP) increased its gold reserves for the fourth consecutive month in July as the country continues to aggressively stockpile the precious metal.
According to calculations by the DGP newspaper, 720,000 ounces of gold were bought last month, valued at about $1.4 billion. This is more than in any of the previous three months. The paper estimated that the total gold reserves held by the Polish central bank have increased to 9.6 million ounces, or nearly 300 tons.
Continue reading “Poland Continues to Aggressively Buy Gold – Grzegorz Adamczyk 8/9/23”
China Buys 23 Tons Of Gold In 9th Straight Month Of Purchases, Total Rises To Record 2,137 Tons – ZeroHedge 8/9/23
Source: ZeroHedge.com
Not only is China ravenously buying up all the physical gold it can get its hands on – something it has been doing pretty much non stop since 2009, for the most part covertly with occasional periods of public disclosure meant to achieve specific political goals – more importantly, it is letting the world know it is buying up all the physical gold it can get its hands on.
World Bank Group Goes Woke – Moon Of Alabama 8/9/23
Source: MoonOfAlabama org
The World Bank Group is a global institution controlled by the U.S. government. It is supposed to lend low interest money to developing countries in need.
Last year the position of its president became controversial. David Malpass, a former Treasury official, was perceived as being ambiguous about the cause of climate change. In February he threw the towel:
The president of the World Bank will step down from his post in June, leaving the organisation almost a year before his term was due to end.
Continue reading “World Bank Group Goes Woke – Moon Of Alabama 8/9/23”
Putin Signed Digital Ruble Law Making a CBDC Possible in Russia – CoinDesk 7/24/23
Source: CoinDesk.com
Russia’s president Vladimir Putin signed the digital ruble bill into law today, allowing the country’s central bank to issue its own digital currency.
The digital ruble, which the Bank of Russia has long been mulling over, will be used for payments along with other methods, according to the new amendments to Russia’s Civil Code. The digital ruble accounts will be managed by the central bank, the law says. The bill passed its third, final hearing on July 11 and had been waiting for the president to be signed.
Brazil’s CBDC Allows Government To Freeze Funds, Developer Discovers – Christina Maas 7/17/23
Source: ReclaimTheNet.org
In a disquieting discovery, the Brazilian Central Bank Digital Currency (CBDC) is reportedly designed with a feature enabling the government to freeze user funds and adjust balances. The revelation emerged after Pedro Magalhaes, a prominent blockchain developer and founder of Iora Labs, managed to decode the underlying technical details of the CBDC.