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Tag Archives: Cryptocurrency

Is China Becoming the Newest Front in the War on Cash?

Back in 2017, the IMF published a creepy paper offering governments suggestions on how to move toward a cashless society even in the face of strong public opposition. It hasn’t been in the news a whole lot lately, but the war on cash undoubtedly continues. In fact, the Chinese Communist Party (CCP) may be planning to embrace the idea as another weapon to wield against its people.In August, the People’s Bank of China said it was close to launching a digital yuan. This could take the first...

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The Problem of France

The explanation may look too simple, but it is very likely the correct one. The problem of France is not wine, literature, or the sensuality of the whole country. The problem was illustrated by a French government minister a couple of days ago. Alexis de Tocqueville and other observers already pinpointed the problem as it sailed unchanged from the Ancient Regime through the democratic governments that followed the devastating revolution of 1789. The problem is the...

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What can go wrong with Bitcoin, Libra and other cryptocurrencies?

with Leonidas Zelmanovitz A monumental struggle between government and market (that is, between the government and the people) could take place. Who would win? For investors, what can wrong with cryptocurrencies? In regular times, not much. First, the brokerage of crypto-assets is something new, and a body of self-regulating norms has not evolved yet. Proper protection mechanisms may be lacking also because these brokerage houses are not regulated (although that may...

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The Reasoning Behind Gold’s Breakout

Goldmoney Insights Gold’s dramatic move above $1400 has caught the investment establishment by surprise. Physical gold ETFs, as a proxy for direct portfolio investment, amount to only 0.05% of the estimated $250 trillion of global investment values. As well as being badly wrongfooted, investment managers have little understanding of the role of gold as money, believing it to have no role in the monetary system. They will have to undergo a rapid re-education. This article addresses their...

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Could a Cryptocurrency Become a Global Reserve Currency?

Could a non-state cryptocurrency like bitcoin become a global reserve currency? I first proposed the idea back in November 2013, long before bitcoin’s rise to $19,000, decline to $3,200, recent ascent to $13,000 and current retrace. The idea is intriguing on a number of levels. In terms of retaining value though thick and thin, the ultimate reserve currency cannot be printed (and thus devalued) with abandon by a government. Gold and silver have served as the ultimate...

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Russia Looking Into Creating Gold-Backed Cryptocurrency for International Payments

Russia is considering creating a gold-backed cryptocurrency to build an alternative international payment system as the country continues to seek a path toward de-dollarization.According to the Russian news agency TASS, Governor of the Bank of Russia Elvira Nabiullina said the bank would consider a proposal for a gold-backed cryptocurrency at the request of the State Duma (the lower house of the Federal Assembly) even though the bank would prefer to advance payments in national currencies....

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Bitcoin Is a Replacement for Gold? Not So Much

A recent video ad produced by a digital currency asset company titled “Drop Gold” created some waves on social media last week. The ad encourages investors to drop gold from their portfolios and replace it with digital currencies such as Bitcoin. “In a digital world, gold shouldn’t weigh down your portfolio,” the ad proclaims.But is Bitcoin really a replacement for gold? While the Drop Gold ad may seem clever and cute, cryptocurrencies aren’t a replacement for gold.The most obviously...

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The WeChat Playbook – Mobilizing the Points Economy

Whenever a big player enter – or even considers entering the space – cryptocurrency markets swoon. Names like JP Morgan, Facebook and Twitter provide a sense of validation for investors and hope that the good times are still ahead. But it was Mark Zuckerberg’s “A Privacy-Focused Vision for Social Networking”, which the Silicon Valley mogule posted on Facebook, that got Kik CEO Ted Livingston talking. An Ecosystem of Value Transfer Facebook intends to launch stablecoin...

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Investors Ditching Bitcoin for Gold

Bitcoin investors are selling cryptocurrency and buying gold, according to a number of investment analysts.“I do think that Bitcoin pulled a little bit of demand away from gold last year, in 2017,” Jan Van Eck told CNBC’s  last week. “Interestingly, we just polled 4,000 bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to bitcoin and now it’s going the other way.”A year ago, Bitcoin was trading at $12,000. But the digital currency has not cracked...

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What’s Up With Precious Metals? It’s Your Dime Interview With Precious Metals Expert Chris Blasi

What’s going on in precious metals markets? Is a recession looming? If so, what does that mean for gold and silver?In this episode of It’s Your Dime, Mike Maharrey talks to precious metals and investment expert Chris Blasi about these questions and much more.Chris is the founder of Neptune Global and has over 25 years of experience in the world of investing and precious metals.TOPICS DISCUSSED-The current economic and political environment.-Whether or not a recession is on...

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