Friday, July 1, 2022



Bitcoin, ICO Risk Versus Immutable Gold and Silver


– Latest developments show risks in crypto currencies
– Confusion as bitcoin may split tomorrow
– SEC stepped into express concern over ICOs
– ICOs have so far raised $1.2 billion in 2017
– ICOs preying on lack of understanding from investors
– Physical gold not vulnerable to technological risk
– Beauty and safety in simplicity of gold and silver


Editor: Mark O’Byrne

Forks and ICOs solves bitcoin v gold debate

There is still a huge amount of noise in the bitcoin and cryptocurrency space but there have been a few developments of late which have pushed the space further into maturity.

From what I can tell from dinner party conversations people who are vaguely aware of bitcoin now know that there are two terms they need to throw into the chat in order to sound like they know what they are talking about. These two terms are ICO and Fork.

Price is also a major talking point at present. As ever the price of bitcoin remains volatile and headline-worthy.

This week will mark a point in cryptocurrency history as the most powerful of cryptocurrencies, bitcoin will experience a major technical change and the US regulator SEC has just made a significant announcement about fundraising in the space.

We have written previously about how bored we are with the bitcoin vs gold debate, but for those who still like to peddle it then they would do well to see how these latest developments put the issue to bed.

The break-up of the year

For a long time there has been a debate about the scaling of the bitcoin network. What is ultimately a required software upgrade has caused many arguments and fall-outs in recent years.

Pressure has been ramping up within the bitcoin community as to how certain problems can be resolved. The discussion may seem like something which is just technical but has at times become philosophical and political.

Stocks and Precious Metals Charts – Blue Skies


“Seek the Lord, all you humble of the land,
who have observed his law;
Seek justice, seek humility;
And perhaps you will be sheltered
on the day of the Lord’s justice.

This was the triumphal city, high and mighty,
Saying to herself, ‘I am the one, and none dare stand beside me.’
How desolate now has she become, a place fit only for wild beasts.
Those who pass by her scoff, and shake their heads at her ruin.”

Zephaniah 2:3-15

“I’m not crazy about reality, but it’s still the only place to get a decent meal.”

Groucho Marx

I have a feeling that we are going to be seeing some real fireworks in the precious metals before the end of the year.

But feelings really do not count in markets.  But it is there, tempting my trading discipline. I know that you have never experienced that. lol.

Stocks bobbled a bit today. I also think we will be seeing a slide in stocks. But let’s see how the earnings come out, and what the Fed does about their bloated balance sheet.

While I am not so sure yet about where gold and silver and stocks are going, here are three things that I am pretty sure about.

1.  There is no sustainable recovery. Basic items like housing and healthcare are fast outstripping the growth in real wages.  This is sustainable?  There is, and for too long has been, a well-funded class war underway, and the middle class is losing.

2.  Trump is a terrible president, and way over his head in the job.  I do not refer so much to the social graces, of which he has none or at least sees no need to use them, but in terms of organizing and managing and leading a very large enterprise.   From pitting underlings against each other to shooting from the hip and trying to get lucky he has some of the very management and strategy weaknesses that brought a certain German leader in the last century to his eventual downfall. Hopefully the span of his control over fanatical followers will not achieve the same critical mass.

Toxic Lead Lurking in Baby Food? What You Need to Know


The Environmental Defense Fund released a study in June, 2017, showing the presence of detectable levels of lead in a surprising number of baby food samples tested over a decade-long period.

For the study, the EDF evaluated data collected by the FDA between 2003 and 2013. They collected 2,164 baby food samples and found that:

  • 89{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of grape juice samples contained detectable levels of lead
  • 86{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of sweet potato samples contained detectable levels of lead
  • 47{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of teething biscuit samples contained detectable levels of lead
  • In total, about 20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of baby food samples were found to contain detectable levels of lead

The group said in the report:

“Eight types of baby foods had detectable lead in more than 40 percent of samples. Baby food versions of apple and grape juices and carrots had more samples with detectable lead than the regular versions.”

Study author Tom Neltner, of the EDF, said:

“The levels we found were relatively low, but when you add them up — with all the foods children eat … it’s significant.”

None of the samples exceeded the FDA’s allowable level of lead, which is good, but does it really matter? Many argue that there is no “safe” level of lead exposure, and the agency is in the process of reviewing its standards over concern that they don’t reflect the latest science about the potential health risks.

Exposure to Lead can be Quite Serious

Lead poisoning in children is extremely serious. It most often occurs when the heavy metal builds up in the body over time, often months or years. Even small amounts can cause severe and irreversible effects on a child’s mental and physical development. So it’s important to consider lead exposure, especially since it is present in small amounts everywhere – not just in baby food.

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Iceland Could Be About To Experience A Major Volcanic Eruption


Iceland’s largest volcano, Katla, was just moved to yellow status.  But that isn’t all that’s concerning. There have also been over 500 earthquakes in Iceland in the last four days.

Experts now believe that a volcanic eruption that could be quite large, may soon occur in Iceland. A series of 40 small earthquakes occurred just North East of Mount Fagradalsfjall two days ago, with the final one felt in Reykjavik, measuring at almost 4 on the Richter scale.

Following tremors at Katla in South Iceland and a glacial river flood in Múlakvísl, the Icelandic Met Office has raised the status of the famous volcano on its “Aviation Colour Code Map for Icelandic Volcanic Systems” from green to yellow.

People have even been warned to stay away from the MúlakvíslRiver because of the odor of sulfur. 

An earthquake of the magnitude of 3 occurred in the Katla caldera at 00:48 last night followed by a series of smaller tremors.

The seismic unrest could be connected to the glacial river flood and not connected to a possible eruption at all but the Iceland Met Office cannot be certain at this point.

Alert code yellow means that the volcano is active but that nothing points to an immenent eruption. If the colour code moves up to orange it means that the volcano is increasing its activity and an eruption is becoming likely. –Iceland Monitor

Guenthner to Wall Street Noobs on Tech Wave You’re Determined to Ride…


By  Greg Guenthner via

For a hot second, (NASDAQ:AMZN) CEO Jeff Bezos was the richest man in the world.

But he didn’t even get a chance to celebrate. After ripping to new all-time highs, Amazon shares reversed and finished the day in the red. The stock dropped almost $7 on Thursday. That’s enough to knock poor Jeff Bezos’ net worth below fellow billionaire Bill Gates.

Sadly, Bezos is worth a paltry $89.3 billion as of yesterday afternoon, according to the Bloomberg Billionaires Index. To add insult to injury, Amazon’s second quarter earnings hit the wire after the bell. Judging by the stock’s initial reaction, investors weren’t impressed.

“The company appears to once again be squeezing out a very small profit on top of its mammoth retail operations, and that will only face more pressure as it looks to wrap up that deal and gain control of hundreds of retail outlets across the country,” TechCrunch notes, referencing Amazon’s $13.7 billion bid for Whole Foods.

To be fair, Amazon wasn’t the only tech stock to hit the skids yesterday. The Nasdaq Composite slipped into the red just after lunch as skittish traders booked profits. All the popular FAANG stocks reversed and moved lower. Even Facebook (NASDAQ:FB)retreated from its all-time highs after beating earnings estimates (although it was the only one out of the group to finish in the green on the day).

The FAANGs aren’t the only stocks taking it on the chin as we close out the trading week. Semiconductors – one of the strongest groups on the market – saw significant pullbacks in several popular names on Thursday, including a 3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} drop in NVIDIA Corp. (NASDAQ:NVDA).

Of course, investors are completely freaking out as these popular stocks drop. With the major averages streaking to new highs almost every day, a quick selloff is all it takes to trigger a little panic these days…

After all, summer market action had been downright boring. Stocks have not endured a meaningful correction in a long time. The record low volatility we’ve experienced over the past few months has twisted the herd’s brain in a knot. Investors are now treating every single dip as if it was the beginning of a massive market crash…

Speaking of crashes, remember Amazon’s “flash crash” last month?

Amazon stock dipped below $930 for less than a second during an apparent fat-finger trade back in early June. The stock recovered almost immediately, posting a loss of a little more than 3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} by the end of the trading day.

Trump’s Wall is a go! House approves $1.6B down payment for border wall


While RINO betrayers (John McCain, Susan Collins, Lisa Murkowski) killed the repeal of Obamacare in the Senate early this morning, House Republicans are going full steam ahead.

Two days ago, the House Judiciary Committee voted for the Gaetz Amendment to HRes. 446, authorizing an investigation of Hillary Clinton, James Comey, Loretta Lynch and Robert Mueller. (See “House Republicans are going after Hillary Clinton!“)

Yesterday, July 27, 2017, the Republican-majority House of Representatives voted 230-196 to make a $1.6 billion down payment for President Trump’s long-promised wall along the U.S.-Mexico border.

Should you own bitcoin or gold? That’s easy


Gold bugs are rarely, if ever, bearish on gold. To them, it’s the only real currency in a world of money-printing central banks endlessly devaluing their fiat (that is, paper) currencies. There are few people who believe so fervently as gold bugs.

But bitcoin fanatics come pretty close. These folks believe that this decentralised digital currency is the ultimate means of easily transferring value without the need for centralised entity, intermediary, or central bank. Bitcoin is a libertarian dream.

Now, given that gold bugs and bitcoin fanatics share a common desire – a completely independent store of value – and a common enemy (central banks), you’d think they might be the best of friends. But they’re not.

In fact, they’re more like dogs and cats – or chalk and cheese. They don’t mix well, at all.

I know this because I’m privy to a private mailing list that’s run by an old family friend who’s a consigliere of one of Hong Kong’s wealthiest families. He, along with a couple dozen business and financial gurus and veterans, some with names you recognise, share their investment ideas and opinions on all things related to global finance and investing.

And recently the topic of cryptocurrencies and bitcoin came up. After watching carefully thought-out emails travel back and forwards within the group, I drew a few conclusions.

Gold bugs don’t like bitcoin

Most of the guys (and they’re almost all men) on this email list are grizzled investors, and they like their gold. To be precise, their physical gold. They dismiss bitcoin as a fad, a craze, all hype and no substance.

As I said, bitcoin is frequently compared to gold. They’re the only two widely distributed, decentralised methods of exchanging value as currency. There is no central authority issuance like there is with U.S. dollars or any other fiat currency.

Neither bitcoin nor gold can just be “printed” at the push of a button by an anxious central banker. You have to either earn your gold by mining it – which is what you do to mine bitcoin, but with computers instead of picks and shovels – or you can pay cash for it.

But for the gold bugs, there’s no substitute for being able to see, feel and carry their gold.

Bitcoin? That just exists somewhere on the internet as far as they are concerned.

Experts Warn North Korea Capable of Striking U.S. Mainland After ICBM Test


The test launch of an intercontinental ballistic missile (ICBM) by North Korea Friday confirms Pyongyang’s ability to strike the U.S. mainland, experts warn.

The missile, which reached an altitude of 3,700km during its 47 minute flight, came down into the waters off of Japan’s west coast after being launched from Mupyong-ni, Chagang province, at 11:11 p.m. local time. Had the projectile been launched on a normal trajectory, analysts say the ICBM may have reached as far as Washington D.C.


“Based on the July 28 launch, preliminary impressions are that North Korea would be capable of easily ranging the contiguous United States…” The Diplomat’s Ankit Panda writes.

“The July 28 test would suggest that North Korea could potentially reach targets as far away as New York City and Washington, DC, depending on the size of its weapons payload.”

The missile type, confirmed to be a Hwasong-14, was also used in North Korea’s first ever ICBM test launch on July 4. A comparison between Friday’s launch (yellow) and the July 4 test (red) suggests Pyongyang did not originally display the Hwasong-14’s full capabilities.

Source: Scott LaFoy @wslafoy

Calculations from David Wright, physicist and co-director of the UCS Global Security Program, likewise found that major US cities are now within range of Pyongyang’s long-range missile. With an estimated reach of anywhere between 10,400km and 11,000km, a North Korean ICBM could easily reach Denver and Chicago.

“Los Angeles, Denver, and Chicago appear to be well within range of this missile, and that Boston and New York may be just within range. Washington, D.C. may be just out of range,” Wright said, noting that everything from the earth’s rotation to the mass of the payload could alter the figures.

Your “Organic” Milk may be Produced with Non-Organic Ingredients


DHA Milk made by Horizon, one of the largest organic brands in the U.S., isn’t nearly as “natural” as the company advertises it to be, according to an investigation by The Washington Post. It contains a type of algae, Schizochytrium, which is fed corn syrup. Corn is the #1 crop grown in the United States, and nearly all of it is genetically modified.

Schizochytrium is carefully tended, kept warm, and fed corn syrup, resulting in a substance that resembles corn oil, but has a slightly fishy taste. It is then marketed as the nutritional supplement DHA, and added to millions of cartons of organic Horizon milk.

Horizon uses corn-syrup enriched algal oil to advertise health benefits and charge more for their DHA-enhanced milk than it does for its regular milk.

This raises an important question: Is Horizon DHA milk really “organic”?

Is the Milk Really Organic?

Charlotte Vallaeys, a senior policy analyst at Consumer Reports seems to think not. She said the addition of algal oil defeats the whole purpose of buying and eating organic.

The “All Natural” Scam: How to Shop Healthy for You and Your Family

“We do not think that [the oil] belongs in organic foods. When an organic milk carton says it has higher levels of beneficial nutrients, like omega-3 fats, consumers want that to be the result of good farming practices … not from additives made in a factory.”

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