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  • Danny B
    replied
    hack proof,,,, gold

    The main alternative store-of-value to cryptocurrencies is gold.
    "The different rates of increase between above-ground gold stocks and the fiat money quantities of unbacked state-issued currencies is what ultimately drives the price of gold measured in those unbacked currencies. It is easy to see why a higher gold price, reaffirming gold’s role as sound money at a time of excessive fiat currency inflation, is viewed by the major monetary authorities as a potential threat to their currencies’ credibility."
    "However, gold remains centre-stage as a global hedge against the decline in purchasing power of fiat currencies. "

    "It depends on the government concerned accepting that gold is superior money to its own currency, owning sufficient physical gold reserves to convince the markets, and the gold price being at a level where the arrangement sticks. There is no doubt that China, Russia, as well as the other SCO member states and their populations regard gold as a superior money to fiat currencies,"
    " The monetary authorities of these countries (the West), with a few exceptions, also do not regard gold as having any monetary role at all, beyond paying lip-service to a vague concept it has value as an asset which is no one else’s liability.

    Therefore, understanding the role of gold and the protection it can offer fiat currencies is split into two geographic camps: the governments of Asia which are actively accumulating, or would like to accumulate additional reserves of monetary gold, and the governments of North America and Western Europe which see the gold price as irrelevant from the monetary point of view."
    https://www.goldmoney.com/research/g...efcode=dollarc

    The gold-bug States have a far higher population and productivity than the West. Japan is technically in the East but, they seem to like gold too.
    Japan Sees Surge In Gold Smuggling As Yakuza & Wealthy Chinese Team Up | Zero Hedge

    Where does that leave the West? Goldman Sachs never wants to be on the wrong side of a trade.
    "London metals trader Andrew Maguire tells King World News today that the gold price suppression cartel is splitting, that Goldman Sachs and two other bullion banks have allied with China and are going long, and that Indian gold buying is strong"
    "James G. Rickards, who has enjoyed U.S. government security clearance, asserted yesterday that the U.S. government is likely to join with other major governments and officially revalue gold to $10,000 per ounce by the end of the year:"
    Sounds strange but, these are strange times.
    Maguire sees gold cartel splitting; Rickards predicts revaluation by year-end | Gold Anti-Trust Action Committee

    Rickards mention that Sept. 29 will bring a big problem.
    ""The first is the debt ceiling. This has to deal with the borrowing authority of the U.S Treasury and to be able to pay the bills of the government.”
    The second event converging is the budget. The budget is the authorization of government spending. September 29th, that is the last Friday of the month and the last business day that operates on the fiscal year budget. There are two ways deal with the budget. One, Congress could vote and pass a budget. The other thing that can be done is a continuing resolution (CR) and it is a vote by Congress that agrees to agency spending and delays new spending to a later date.”

    “This is important to note because it faces a hard-stop on September 29. The debt ceiling does not have to happen on the same date but because of the lack of Treasury funds it is very likely that by the end of September it could run out of money. That means there are two meteors striking in Washington with the budget and debt ceiling increase.
    Hmmm, more meteors.
    Rickards Fears September Meltdown - "1000 Point Drops, Or A Closed Exchange?" | Zero Hedge

    Jim Willie, "The Petro-Dollar is showing numerous signs of being dead. The OPEC cartel is defunct, rendered a useless gaggle steeped in disunity. Enter the Eastern energy cartels to fill the void. The Russians are forming an effective Oil Consortium for supply. Iran is working to form a natural gas cartel, joined by Russia and Qatar. The implications are vast for both the USMilitary and the USDollar. The US global dominance will be cast aside, a process already underway. These energy cartels will assure the end of the USDollar as global currency reserve. They will also open the door for the Gold Standard in various forms."

    "the growth of barter with possibilities at the local level for both silver/gold and services, the known bilateral barter examples like China with Iran, the coming Dual Universe of USDollar versus Chinese RMB in not too peaceful coexistence, and the advent of crypto currencies with block chain protections using encryption for security"
    Banks and the IRS hate barter.
    GOLDEN JACKASS.COM - The Golden Jackass Knows Gold, Currencies & Bonds"

    Leave a comment:


  • Danny B
    replied
    Trials and tribulations of Bitcoin

    Here are a bunch of links on the attempts to control and tax BTC.
    "With more assets pouring into digital currencies, the federal government, via the Internal Revenue Service, is looking to get its fair share from Bitcoin -- a cut that the IRS doesn't believe it's been getting until now.

    That could change, and fast, as the IRS is using a software program that monitors Bitcoin-based digital addresses, in a campaign to identify potential tax evaders."
    https://www.thestreet.com/story/1428...x-evaders.html

    " I read a New York Times article about how people are getting their identities stolen via their phone number.

    The one thing all these people had in common? They were vocal on social media about investing in bitcoin. They got hacked—and their bitcoins disappeared. In some cases, seven figures’ worth."
    Hackers, Bitcoins & Fleas | RiskHedge

    "In each of the recent market “shocks,” it’s true that the price of gold saw an uptick. But here’s the kicker…

    Bitcoin rose radically higher. (Other cryptocurrencies are seeing even better results.)"
    https://dailyreckoning.com/cryptocur...lackest-swans/
    "but the anonymity is by no means perfect. Security experts call it pseudonymous privacy, like writing books under a nom de plume. You can preserve your privacy as long as the pseudonym is not linked to you. But as soon as somebody makes the link to one of your anonymous books, the ruse is revealed. Your entire writing history under your pseudonym becomes public. Similarly, as soon as your personal details are linked to your Bitcoin address, your purchase history is revealed too."
    https://www.technologyreview.com/s/6...veryone-hoped/

    Leave a comment:


  • Danny B
    replied
    CBs buy everything to avert meteor storm

    When the economy withered away for lack of wages, the CBs jumped in and bought everything in sight.
    "Recently, the Official Monetary and Financial Institutions Forum think-tank revealed that global central banks have speculated with $29 trillion (£23 trillion) in global markets, including stock markets."
    "I may have been absent that day but since when were central banks given discretion to trade and speculate to such an extreme?"
    "the Federal Reserve doesn’t look in good shape either. The toxic assets it has bought remain under wraps and it has helped to create a false financial environment. Its 0% interest rate policy has flooded the planet. Cheap dollars have funded bad investments"
    The wet-ink money never flowed into wages. If 70% of the economy is the consumer-economy AND consumption has crashed, the money flowed into mal-investment.
    "Too big to fail, jail, bail or prosecute is simply too big to exist. Unregulated, systemic banking fraud, a lack of enforcement and failure to properly manage counterparty risk will soon cause the next collapse. "
    "relatively speaking, the risk is 40% bigger than it was in 2008, bigger institutions, bigger transgressions, bigger fines. And this time, the central banks want a slice of the pie, making this an exponentially larger feeding frenzy that can only end with indigestion. "
    https://www.standard.co.uk/business/...18286.html?amp

    "Business-cycle recessions are not just inevitable, they are necessary to flush bad debt and marginal investments/projects from the system."
    "The next recession--which I suggested yesterday has just begun--will be more than a business-cycle downturn; it will be a devastating meteor storm that destroys huge chunks of the economy"
    CLARITY; The dynamic that's about to play out is simple: wages for the bottom 95% have gone nowhere for 17 years, while costs have soared far above official inflation for everyone exposed to real-world costs.
    We have filled the widening gap between stagnant household income and rising expenses with debt.

    "After eight long years of filling the widening gap with borrowed money, the jig is up: the returns on adding debt have diminished to zero"

    "When credit expansion stops, the effect is like a meteor storm: marginal borrowers and lenders crater, and every sector that depends on marginal borrowers and lenders for sales and profits also craters."
    "Here's total credit in the U.S.: up from $26 trillion 2000 to $66 trillion today."
    "Many of those about to be vaporized did not grasp the fragility of the "prosperity" they assumed was both solid and permanent. The difference between earned income and sales derived from earned income and debt-based income and debt-based sales is about to become painfully clear: the coming financial meteor strike will vaporize debt-based activity and leave whatever isn't dependent on debt relatively unscathed."
    oftwominds-Charles Hugh Smith: Next Stop, Recession: The Financial Meteor Storm Is Headed Our Way

    Leave a comment:


  • Danny B
    replied
    Who gets the blame?,,,CB buying the entire economy

    Trump is no dummy and, everybody is jockeying for position so they won't be blamed for a shutdown of GOV.
    "For the first time in over 100 years, the DOW gained 4,000 points over the course of 200 working days. That’s 4,000 points since Trump was elected, so it’s easy to draw a connection between the stock market’s dizzying new heights and Trump’s ascent to the White House.

    But Trump’s supporters shouldn’t really celebrate that, because there’s no way that this can last. It’s been pointed out many times before that Trump is being set up for the inevitable crash of our economy."
    "The elites simply can’t wait to pull the plug on the many financial bubbles that are haunting our economy. If they do it now, they’ll walk away with a lot of money while Trump is left with all the blame"
    "Of course, a financial crash won’t look so bad for Trump if it comes out of nowhere. What the elites really need is a financial crash that can be easily pinned on the President, and it appears that they may finally have it."

    "You may recall that Trump recently said that he will veto the next spending bill that’s due in September, if the Senate and Congress don’t include funding for his border wall. He basically threatened to cause a government shutdown if the Democrats don’t cooperate with him."
    "But if he causes a government shut down in the process, it could trigger the next financial crisis, and lead to the demise of his presidency. And the people who turned out economy into a casino will walk away without receiving any blame."
    This Is How Trump Is Going To Be Blamed For The Next Financial Crash | Zero Hedge
    Comments;
    if he takes the credit for the highs, he will be blaming the deep state/Republcans/Democrats/etc for standing in his way when the collapse comes. He can say it all would have stayed good if only they had not got in his way
    Trump just needs to start saying, "If they don't pass this spending bill, They are going to crash the markets, its horrible people, horrible.".
    Trump's his own worst enemy. If he had any balls he would have pointed out what a charade the markets are and given himself some cover before they collapse again
    He knows the game that's being played and won't let them be the only ones crafting the narrative. This is why he is still doing rallies also. He is building a militia, an army of sorts. But most won't be called to take up arms, they will be called to other things when the time comes, and many will answer. Some of you all still don't get it, this isn't even really about Pres Trump, it's something much bigger.

    No. Sometimes Timing is everything.
    Wait until it happens, and then blame the (((Fed))).
    The Public support for ending the Fed will be at its peak then.
    "Markets won't crash because of the Federal Reserve buying stocks and bonds!!
    August 24, 2015 the Fed outed their covert stock buying program and went on a stock buying binge and reversed a -500 point drop in just 15 minutes!! Who else is powerful enough to do that ??"
    This is a whole nother issue.

    " Without any recession or crisis, major central banks are purchasing more than $200 billion a month in government and private debt, led by the ECB and the Bank of Japan.
    The Federal Reserve owns more than 14% of the US total public debt.
    The ECB and BOJ balance sheets exceed 35% and 70% of their GDP.
    The Bank of Japan is now a top 10 shareholder in 90% of the Nikkei.
    The ECB owns 9.2% of the European corporate bond market and more than 10% of the main European countries’ total sovereign debt.
    The Bank of England owns between 25% and 30% of the UK’s sovereign debt."
    " As such, productivity growth collapses, real wages fall and purchasing power of currencies fall, driving the real cost of living up and debt to grow more than real GDP. That is why, as we have shown in previous articles, total debt has soared to 325% of GDP "

    "The central bank can “print” all the money it wants and the government benefits from it, but the ones that suffer financial repression are the rest. By generating subsequent financial crises through loose monetary policies and always being the main beneficiary of the boom, and the bust, the public sector comes out from these crises more powerful and more indebted"
    "No wonder that government spending to GDP is now almost 40% in the OECD and rising, the tax burden is at all-time highs and public debt soars.

    Monetization is a perfect system to nationalize the economy passing all the risks of excess spending and imbalances to taxpayers. And it always ends badly. Because two plus two does not equal twenty-two. As we tax the productive to perpetuate and subsidize the unproductive, the impact on purchasing power and wealth destruction is exponential."
    https://mises.org/library/are-centra...lising-economy

    We are in a whole new world where the State tries to buy up the economy to keep it from crashing. Stay tuned !

    Leave a comment:


  • Danny B
    replied
    Debt ceiling and infighting

    Everybody has written about the fast approaching debt-ceiling battle. As it gets closer, there is more focus and hints.
    "Trump tweeted what appears to be a warning that the debt-ceiling process is setting up for failure, saying he had requested that Mitch McConnell and Paul Ryan tie the debt ceiling legislation into the V.A. Bill (which passed), adding that they did not do it, and as a result we "now have a big deal "

    "Trump now admits will be a debt-ceiling "mess" has begun, as has the scapegoating, and in Trump's view the blame will, or should, ultimately fall on Congressional Republican leadership in the face of McConnell and Ryan. While it is unlikely that Trump's latest escalation will accelerate a compromise, it virtually guarantees that the feud between the republican controlled Congress and the President will escalate further, effectively making either a debt-ceiling or government shutdown crisis increasingly likely. "
    Trump Warns Of Debt Ceiling "Mess"; Blames McConnell, Ryan | Zero Hedge

    "Goldman’s crew in the current White House – Gary Cohn, Steve Mnuchin, Dina Powell and Jared Kushner – are likely to bring about the final destruction of the Trump presidency. The cast of characters will eventually trigger a thundering collapse in the markets which will finally crush Goldman Sachs and its posse of gamblers and crony capitalist.

    In the coming battles over crucial economic issues surrounding the debt ceiling, tax reform and healthcare, Trump will be getting the worst advice imaginable. The Donald will be pushed into attempting to make “bipartisan” deals that will blow the tenuous GOP majorities to smithereens"
    "Right after Labor Day the destructive game plan of the Goldman Regency will show up in battles over a “clean” debt ceiling. "
    " The Freedom Caucus and the vast majority of conservative leaning congressional Republicans will jump ship.

    Washington is heading for weeks of fraught indecision, backroom maneuvering and contentious political in-fighting that will scare the Wall Street casino that it is stuck in complacency.

    The fact is that the market is breaking down beneath the shrinking number of Big Cap stocks and levitating averages. This has all set-up a severe downside shock within the coming weeks."
    "But the RUT (Russell) is now 6.5% below its July 25 high of 1450, and, more importantly, has now plunged below its 200 displaced moving average"
    "The robo-machines and day-traders have not simply been voting for Trump and an incipient economic and profits boom. What they’ve been doing is chasing the index up a nearly 30% incline between early November 2016 and the July 25 peak"
    "Now they are now stranded in the nosebleed section of the outfield bleachers."
    "It is only a matter of time before Wall Street gamblers discover they are home alone on the earnings front. All this while gridlock in Washington will intensify suddenly and dramatically. The Treasury’s cash balance is now down to $82 billion, and at its current $2 billion burn rate per calendar day it will be gone by the end of September."
    "This means that Congress will have just days to reach a compromise on the debt ceiling when it returns from recess. But this will not be the Congress of September 2008 that rolled-over to pass the bailout TARP bill at the insistence of Secretary Paulson. This time Goldman’s bag-man will be told “no dice.”

    After all, the Dems now have a President to hound from office and the Freedom Caucus will not again be intimidated by Wall Street into obeisance. Expect a full throated war between Washington, Wall Street and the establishment that is attempting to overturn the 2016 election"
    David Stockman On America's Goldman Sachs Regency | Zero Hedge
    SO, the markets have rolled over about 6% even with all the cash infusions from the plunge protection team.

    The inner cities will be the battlefield, America's Inner Cities Are In Chaos... Just Look At Baltimore & Chicago | Zero Hedge
    Baltimore is a case study where nobody takes responsibility and, nobody gets an education.
    "In grades three through eight, 41 percent of students passed the English test, while only a third passed the math assessment. "
    Less than half of Maryland students pass English, math assessments - Baltimore Sun
    The liberals seem to think that;if you throw enough money at ANY problem, that will fix it.

    Leave a comment:


  • Danny B
    replied
    Armstrong and 2020

    Rogoff, "He is telling the central banks that the next recession they will have to resort to negative interest rates and they should prepare now. Despite the fact that negative rates have failed to work in Europe or Japan, seems to be nothing to really consider. So what after almost 10 years of failed policies at the European Central Bank, it will eventually work maybe in 12 or 13 years?"
    "The academics never get called into real world problems. They have zero experience. Government calls upon them because the politicians also have no experience."
    "These policies of negative interest rates have created a Pension Crisis on the horizon and wiped out so many states, provinces, cities, and municipalities. This policy is one-dimensional and only looks at demand and how to force people to spend."
    https://www.armstrongeconomics.com/m...ill-be-needed/

    Here is a picture of Slick Willie and the bankers destroying Glass-Steagall.
    https://armstrongmedia.s3.amazonaws....al-Clinton.jpg
    This was the one major step that got us to where we are today.
    "There is no appreciable risk management that comprehend cycles and each crisis is typically set in motion by the solutions applied to solve the previous crisis. This is the true over-arching issue that is never considered because those applying the solution lack any comprehension of the dynamics of the economy as a whole."
    "So while banks are “too big to fail” and “too big to jail”, government is not “too big to fail” since they depend upon people buying the debt which never ends"
    "but they are not exempt from revolution be it non-violent or violent as history proves"
    https://www.armstrongeconomics.com/w...in-plain-view/

    "Jennifer Lawrence is at least addressing the middle ground but nobody seems to listen. Trust me, then you will see serious violence in the streets during 2020. I would not go near any city hosting the Democrats or Republicans in 2020. I will tell you now – stay far away."
    https://www.armstrongeconomics.com/w...ves-to-center/
    "Mr. Armstrong; You said that this civil unrest will continue to escalate and that the left is attempting to just suspend government until 2020.":
    "This is why the violence will continue and escalate into some very bloody events going into 2020."
    https://www.armstrongeconomics.com/w...-civil-unrest/

    Leave a comment:


  • Danny B
    replied
    The fallout from the battle between globalism and nationalism

    I spent a week in the north woods. When I come back, things have accelerated downward. I have to write on social systems because of their enormous effect on economic systems. Globalism is a socialist construct with a fascist control structure. The chosenites have always pushed socialism no matter how often it fails. Globalism is seen as the central control structure that they must create to control the world. Globalism, so far, has only benefited six States. It is already perceived as a failed system. This will be an important perception as the battles grow worse.
    Top Institutions and Economists Now Say Globalization Increases Inequality

    George Soros will probably get what he wants.
    http://oilprice.com/Geopolitics/Nort...Look-Like.html

    I can't leave out Kunstler, Diminishing Returns - Kunstler

    The game plan has been around for a long time. 22 Key Goals Of Zionist Communism In America
    "Communist Goals (1963) Congressional Record--Appendix, pp. A34-A35 January 10, 1963

    Current Communist Goals EXTENSION OF REMARKS OF HON. A. S. HERLONG, JR. OF FLORIDA IN THE HOUSE OF REPRESENTATIVES Thursday, January 10, 1963 ."

    Charles Hugh Smith, oftwominds-Charles Hugh Smith: Are We Fiddling While Rome Burns?
    Structured criticality, https://macromon.wordpress.com/2017/...d-criticality/

    Leave a comment:


  • Danny B
    replied
    Scrambling to avoid the great evaporation

    The CBs have created enormous mountains of debt masquerading as money / wealth. The holders of this debt can see a mass-default looming. They are trying to exit the bubble before their debt instrument loses value. They have no faith in sovereign debt. They have little faith in corporate debt. They buy shares in companies even though earnings are miserable.
    "In June 2007, reported LTM earnings for the S&P 500 was posted at $85 per share. That would mean that earnings have grown at the tepid rate of 2.1% per annum for the last 10-years; and those are nominal dollars.

    Take out inflation and share buybacks and there’s essentially no gain at all on a peak-to-peak basis."
    "Under a regime of honest money and price discovery, the stock market discounts the future. There is no plausible future from here that’s worth 24 times S&P 500 value or 96 times the Russell 2000."
    "Margins on debt has again reached an all-time high of $550 billion. The chart below leaves little doubt as to what comes next. After the 2000 peak, margin debt collapsed by 50% as stocks were violently liquidated to meet margin calls. All this while in 2008 the shrinkage of margin debt was even larger – nearly 60%. This time, however, a similar shrinkage would cause a $325 billion decline in margin balances. That’s a lot of stocks on a fire sale."
    https://dailyreckoning.com/100-month...ps-peak-crazy/

    All this "wealth" is searching for protection from deflationary forces. In financial circles, there is NO mention of wage deflation. The working class has been struck down by wage deflation. The upper loop is shukin and jivin that productivity must be raised. They lament the loss of profit margins. They cry for more efficiency and "more competitive" wage structures. The non-producer class tries to stay insulated from the problems of the larger producer class.
    The wage base crashes and consumption crashes. Huge infusions of credit to unqualified borrowers is seen as the cure. The CBs print boatloads of "money" to compensate for falling wages and falling spending power.
    They admit that it doesn't work but, QE and ZIRP are the only tools they have.
    The CBs and the private banks are creating tons of pixelated "money". The upper loop of the economy doesn’t actually produce any tangible wealth so, it must take tangibles from the lower loop.
    The numbers look increasingly bad. Those with money are starting to look away from stocks. Currently, they are looking at cryptocurrencies. Everybody wants to avoid the 'great evaporation".
    Last edited by Danny B; 08-17-2017, 01:39 AM. Reason: spellling

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  • Danny B
    replied
    BTC, secure or not

    The banks want to take <5%> of your money yearly with negative interest. The State wants to take whatever it claims that it needs. The State has done it's best to ensure that there are no safe havens or alternatives to their fiat. this is driving more and more people to crypto currencies. I've already written quite a bit but, this is a fast-evolving subject.

    "But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a new technology, specifically the blockchain. Think of the blockchain, very basically, as layers of independent electronic security that encapsulate a cryptocurrency and keep it frozen in time and space — like layers of amber around a fly. This is what makes a cryptocurrency “crypto.”
    Bitcoin and each new initial coin offering (ICO) should be thought of as software infrastructure innovation tools, not competing currencies. It’s the amber that determines their value, not the flies.
    All local governments had to do was make it illegal to hide, and thus force law-abiding citizens to become criminals if they fail to disclose such accounts. We should expect similar anti-money laundering hygiene and taxation among the cryptocurrencies.

    As a new cryptocurrency is assigned units of a store-of-value, those units must, by necessity, leave other stores-of-value, whether gold or another cryptocurrency. New depositories of value must siphon off the existing depositories of value. On a global scale, it is very much a zero sum game.

    Or, as we might say, we can improve the layers of amber, but we can’t create more flies.
    The problem is that there is no barrier to entry for cryptocurrencies; as each new competing cryptocurrency finds success, it dilutes or inflates the universe of the others.
    They do not create new value, but are finite in supply and are merely intended to hold value that has already been created through savings and productive investment. To miss this point is to perpetuate the very same fallacy that global central banks blindly follow today. You simply cannot create money, or capital, from thin air

    Comments;
    "the problem is that there is no barrier to entry for cryptocurrencies; as each new competing cryptocurrency finds success, it dilutes or inflates the universe of the others."
    All fiats are backed by force, as there was no escape - until crypto. The G8 Central Bankers could fiddle and play with the fiat all they liked. Then if that wasn't enough the governments wait to feed after the Central Banks have gorged themselves.. A little jawbone talk could move the DJIA up or down $100 billion. Notice no matter what central bankers say it has almost no bearing on the value of Bitcoin..

    That's right, they cannot control it without a full internet shutdown.

    Crypto's value is the removal of the the parasitic function that accompanied all forced fiats. It's value is that it escapes the inflation mechanism of 'growth' forced upon everyone that utlizes fiat dollars. In otherwords it is the escape velocity vehicle to escape the black sucking hole that is your central bank..

    And the more they destroy their fiat (which is a mathmatical certainty), the more governments seize your stuff to feed their ever growing parasitic nature, the more people will realize that there is no wealth in fiat, it must come from a mechanism that cannot be easily diluted, like crypto..

    The advantage of 21st century cryptos is their emission and use circumvents and disintermediates the 20th century banks with their expensive overhead and "protection" racket. The banks enable expensive, slow, outdated and unresponsive 20th century governments to still exist in the 21st century. Consequently most of the world yet awaits the 21st century-and this is ultimately the primary driver behind crypto.

    Eventually nothing more than an iPhone/android app will be required to exchange value between two people. That value for now remains denominated in Dollars or Euro - but that WILL disappear-only question being when.

    Who is to say whether backdoors will be added to any crypto currency

    The programmers who have completely rewritten the code for bitcoin, or the other programmers who wrote the code for their coins from scratch.

    Also the stark reality that coins have never been stolen from anyone's wallet.
    The Heartbleed Bug is a serious vulnerability in the popular OpenSSL cryptographic software library. This weakness allows stealing the information protected, under normal conditions, by the SSL/TLS encryption used to secure the Internet. SSL/TLS provides communication security and privacy over the Internet for applications such as web, email, instant messaging (IM) and some virtual private networks (VPNs)...

    Heartbleed Bug
    Spitznagel: Why Cryptocurrencies Will Never Be Safe Havens | Zero Hedge

    Leave a comment:


  • Danny B
    replied
    You can run but, you can't hide,,, from the tax man

    European socialism has just gotten too expensive. Draghi has gone against the rules to print & buy debt directly. It is either that or, let the Italian banks meltdown.
    "The Bundesbank has bought about £9.1billion in government bonds every month, making it the biggest purchaser of government debt in the EU."
    Germany attacks ECB over £1.8TRILLION quantity easing programme | World | News | Express.co.uk
    "The plaintiffs in Germany wanted the Bundesverfassungsgericht to stop the Bundesbank’s participation in the ECB program. Germany, they argued, would suffer a complete loss if the bonds failed."
    https://www.armstrongeconomics.com/i...tative-easing/

    The EU is running out of other people's money. Where did it go? Deflation of the money supply can happen in all different ways.
    Half of Belgium's economic output ends up in tax havens
    https://www.rt.com/business/399528-b...tax-haven-gdp/
    As various groups put their money out of reach of the tax man, the State has to print and steal that much more.

    "Switzerland has its “wealth tax” which they argue is nothing just 0.02%. However, it requires you to report all assets worldwide. They then know precisely what you have and it is merely one vote away at anytime to raise the tax or impose criminal penalties for failure to report everything. Yet, once Switzerland has that info, under G20 they must share it with all other governments."
    "Now the German Federal Minister of Finance, Wolfgang Schäuble, is proposing to control all large cash transactions claiming this will prevent black money transactions and money laundering. Of course, they see these two issues not as typical crime like drugs, but tax avoidance."
    https://www.armstrongeconomics.com/w...-transactions/
    The article blames Bin laden and terrorism for all this. Bin laden did not bring socialism to the West.

    Leave a comment:


  • Danny B
    replied
    Feeding the State pac-man

    Armstrong; "Brussels will become authoritarian when the free markets rain on their parade. " (refuse to buy GOV bonds)
    "I have been warning that as governments move closer to this major event of a Sovereign Debt Crisis which begins next year with the start of the Monetary Crisis Cycle, they historically will ALWAYS, and without exception, bite the hand that has fed them. The object for government is survival of the fittest and that is them."
    "This is also never about how to properly run the economy for the benefit of all. It always boils down to it being them against us." (Congress passed a law stating that insider-trading is illegal,,, except for them)

    "Throughout history, there has never been even one benevolent government that has ever surrendered power willingly for the good of the country or the people. That has NEVER happened even once."
    "More-often-Than-Not, the revolutions throughout history come about when the taxes of government simply break the back of the economy. We are reaching one of those moments as we cross the threshold into 2018."
    https://www.armstrongeconomics.com/i...it-inevitable/
    " Yes, the dollar will rise after this year from Political Hell. Keep in mind that a rising dollar will break the world monetary system – not a weak dollar. Keep in mind that the entire system is headed to a reset probably no later than 2021"
    https://www.armstrongeconomics.com/i...it-inevitable/

    "The Private Sector DB Plans are underfunded by $500 billion, while the Federal and State-Local DB Plans are underfunded by $3.8 trllion (adding both columns together). Even more amusing is that the Federal DB Pension Plans hold a larger underfunded liability than their total assets. While we have heard in the news that the State Pension Plans are in big trouble, we can plainly see the Federal Govt Pension Plans are in much worse shape… LOL."
    https://dj0s31cxqi9ot.cloudfront.net...nts.png?x65756
    Something Big, Bad And Ugly Is Taking Place In The U.S. Retirement Market GREAT graphs

    Illinois is raising the snot out of taxes to fund State expenses. Their pension coasts are eating up everything. A half dozen other States are in the same boat.
    FED GOV has to either; print money for unfunded liabilities OR raise taxes way up.
    Vattel, “THE nation, being the sole mistress of the property in her possession, may dispose of it as she thinks proper, and may lawfully alienate or mortgage it. "
    "The Fifth Amendment in the Bill of Rights to the U.S. Constitution specifically references property thusly: “ . . . nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation."
    "Even the most simple of minds can understand the meaning of private property being taken for public use. Heretofore the public nominally accepted that the United States honors the rule of law. After the KELO et al. v. CITY OF NEW LONDON et al. decision, the supreme court has demonstrated decisively and for all times that the legal system has become a Vattelian harbinger of regal predictability. "
    "The five judges Stevens, Kennedy, Souter, Ginsburg, and Breyer inextricably prove that they are tools of an oppressive autocracy bent on eradicating the last vestige of citizen sovereignty. Dissenting Justice O'Connor sums up the lawful revulsion precisely: “Today the Court abandons this long-held, basic limitation on government power. Under the banner of economic development, all private property is now vulnerable to being taken and transferred to another private owner,"

    "Appreciate the reality that the mantra of a government under the law is a myth. The mere fact that Chief Justice John Marshall set into motion the primacy of judicial review doomed this nation to the whims of arrogant black robed tyrants. "
    The Court and your Castle
    SO, just what limitations will exist to hold back the State when it decides that it needs your property to continue to fund itself?

    Leave a comment:


  • Danny B
    replied
    August, no worries

    Vid,
    Mike Maloney - Why Crash is due August 17, 2017 AltaReports
    https://www.youtube.com/watch?v=vbb_B1TX3yM
    MIKE MALONEY On Expected Economic Crash on August 21, 2017
    RED ALERT: The Dollar Will Collapse 100% on AUGUST 2017! Ron Paul Last Warning To America
    James Rickards AUGUST 2017 The Financial System Will Go Dark When The Economic
    David Stockman AUG 2017 The US & Global Economy Has Entered The Crack Up Phase
    Some people just can't help themselves. They have to put a date on their predictions.

    Leave a comment:


  • Danny B
    replied
    American crackdown in BTC

    The Graham-Leachy act that voided the Glass-Steagal dumped all your money into the laps of the bankers. They blew it all. The bankers "enticed" the State to hand them $ trillions of taxpayer's money. They have burned through that.
    Enter the blockchain. The bankers are trying to ensure that all payments are run through the banks.
    The digital battle that banks must win | McKinsey & Company
    But, the banking system is both inefficient AND parasitic. Commerce demands efficiency.
    "Blockchain -- the technology used for verifying and recording transactions that’s at the heart of ethereum and bitcoin -- can also be used to verify contractual agreements, intellectual property rights and public online ledgers without intermediaries. "
    Russia is going for efficiency, https://www.bloomberg.com/news/artic...l-currency-use

    The bankers are losing ground because they are a bunch of thieving A-holes.
    https://www.youtube.com/watch?v=qezrH2c5N3c
    Naturally, they enlist the aid of the State to block the competition.
    They call it illicit finance. Obviously, the State has an interest in continuing to tax everything in sight They will naturally side with the bankers..
    US Launches Quiet Crackdown On Cryptocurrencies | Zero Hedge
    "As Coinivore reports, the bill requires the governments to develop a “national security strategy” to combat the “financing of terrorism and related forms of illicit finance.”
    Comments;
    "So you cashed out your paper profit? The exchange wired the money to the bank account you gave them together with photo ID scan and all personal data?"
    Thats not their worry its when it goes to bitcoin and stays in bitcoin and the end user sees it as a reliable mechanism of exchange and it does not come back to fiat.. Thats where there panicing.. And if the Chinese have already mastered pinnacle parallel offshore transactions of buying and selling houses in Vancouver through an offshore exchange. Central Bank and Government NIGHTMARE.. No Taxes for you so sry!! The Chinese have done an end run around Canadian taxation while the house 'sale' occured on a chinese bitcoin exchange offshore.. They show up and do a taxless title transfer.."

    "When Communist Party cracked down on bank-based exchanges back in 2013, people started trading grocery store vouchers to miners and exchanges for cryptocurrencies. Similar non-bank exchanges like Purse.IO already exist in the West. Money always finds a way. LocalBitcoins. Mycelium LocalTrader."
    "Is it LEGAL TENDER? (if it IS NOT, then why does Amazon accept it? & if that's the case, why does THE GOVERNMENT allow Amazon to accept a currency for payment that is not LEGAL TENDER)?"
    "> but give me a list of anything I'm actually interested in that I can purchase with bitcoin.

    Anything on Overstock.com directly. Anything on Amazon (at a discount!) via purse.io"
    "According to the bill, an initial draft strategy is expected to come before Congress within the next year, and will see input from U.S. financial regulators, the Department of Homeland Security, and the State Department"
    A YEAR !

    Leave a comment:


  • Danny B
    replied
    The pot is boiling over

    Armstrong, (Germany and France) "They cannot see that this is an endless quest to find new things to tax because they have totally mismanaged government. They will continue in the direction literally until there is a major rebellion, for they are constantly lowering the standard of living by reducing disposable income."
    https://www.armstrongeconomics.com/w...-their-houses/
    Armstrong writes about East Germany boiling over AND the current boiling in the Ukraine, https://www.armstrongeconomics.com/w...3-to-26-weeks/

    Armstrong, "Charlottesville Mayor Mike Signer had denounced the ‘cowardly parade of hatred, bigotry, racism, and intolerance march down the lawns of the architect of our Bill of Rights’ and warned for residents to stay away from the rally. "
    For the major to label this event simply caused by “hatred, bigotry, racism, and intolerance” demonstrates he does not comprehend the cause"
    "We will most likely see these type events explode peaking out in real bloodshed by September 21/22nd, 2019 (2019.725). So expect to see this civil unrest continue to rise especially after 2017."
    https://www.armstrongeconomics.com/w...cle-into-2020/
    The States created the fed gov. They had the right to secede. After the southern armies were defeated, Lincoln sent Gen. Sherman to destroy everything he could find. General William Tecumseh Sherman marched from Atlanta to Savannah destroying everything for a hundred miles on either side.. He is still very much the most hated man in Georgia.
    They don't forget things like this in the South.

    Leave a comment:


  • Danny B
    replied
    The AIIB and the CIA / MIC

    China formed the Asian infrastructure bank and other entities that are in direct competition with the World Bank and the IMF. Not surprisingly, the West is doing whatever it can to break up these competitors. A LOT of States have signed up with the Chinese bank.
    https://www.nytimes.com/2015/12/05/b...nds-aloof.html

    India and China are now rattling sabres over land that is NOTHING.
    https://journal-neo.org/2017/08/11/h...witched-sides/
    Either it is Kabuki theater for the West or, the CIA has managed to create a problem.
    Also, there are increasing problems between Japan and China.
    While China holds a lot of promise for investors, they are hedging their bets due to the astronomical debt in corporate China.
    http://thesoundingline.com/wp-conten...t-1024x625.png
    Chart of the Day: Putting the Chinese Corporate Debt Bubble in Perspective - The Sounding Line
    The military industrial complex may very get their war by going around Trump, If War Comes, Don't Blame The "Military-Industrial Complex" ? It's Much Worse Than You Think | Zero Hedge
    ZIRP is now crashing the hedge funds. If you are drinking out of the QE punchbowl, everything is fine. If you are drinking out of the ZIRP punchbowl, everything is bad.
    http://www.businessinsider.com/bridg...g-money-2017-8

    Leave a comment:

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