from World Alternative Media:
from Silver Doctors:
The stunning news release last week didn’t even make it to many in the mainstream media…
The stunning news that was released last week that didn’t make it to many of the mainstream media outlets was that according to former CFTC official Christopher Giancarlo, the Trump administration actively intervened in the Bitcoin market to drive the price lower.
by Brady Dale, Coindesk:
SAN FRANCISCO — The Trump administration acted to deflate the bitcoin bubble of 2017 by allowing the introduction of futures products, a former official said Monday.
Christopher Giancarlo, who left the U.S. Commodity Futures Trading Commission (CFTC) at the end of his five-year term as chairman in April, told CoinDesk in an interview:
“One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.”
by Helen Partz, Coin Telegraph:
A 150-year-old English church is being sold for $1.5 million with the vendor accepting payment in Bitcoin (BTC).
Vendor is willing to receive payment in Bitcoin
According to a listing on Rightmove, a major British online real estate portal and property website, a vendor put an 18th-century church converted into a seven-bedroom character property up for sale and is willing to accept Bitcoin as payment.
by William Suberg, Coin Telegraph:
Trading record underscores Bitcoin’s “non-seizability”
As multiple commentators including Morgan Creek Digital co-founder Anthony Pompliano noted this week, Bitcoin is a genuine solution for Hong Kong residents worried about monetary sovereignty.
According to Bloomberg, the Central Bank of Venezuela is examining whether it can receive and transfer cryptocurrencies.
The bank’s investigation follows the news of state-run Petroleos de Venezuela SA (PSDV), which has been running tests to eventually transfer Bitcoin and Etherum to the central bank and have it pay its suppliers with digital currency, according to four people with direct knowledge.
Sources said the central bank has been studying plans that would allow cryptocurrencies to be recorded as international reserves, now near-record-low levels.
by Teeka Tiwari, Casey Research:
Chris’ note: Regular readers know we’re bullish on the cryptocurrency market, especially bitcoin, which is up 169% this year.
But now that cryptos are going mainstream (with companies like Facebook planning to launch their own coins soon), there have been plenty of questions about whether the government sees them as a threat… and whether it will try to shut them down.
So today, we’re once again handing things over to my friend and colleague Teeka Tiwari, editor of Palm Beach Confidential. When it comes to cryptos, Teeka’s seen it all… and he wants you to know that you shouldn’t be worried if the government tries to tighten its grip on the market.
by Teeka Tiwari, Casey Research:
Chris’ note: If you’ve been following along in the Dispatch, you know we often warn you about the crises we see around the corner – and the best ways to profit from them.
That’s why you should be paying attention to what’s happening in Argentina. Earlier this month, the government triggered a currency crisis, and hundreds of its citizens lined up at ATMs to get their money out of the bank.
Now, you may think that if you don’t live there, this doesn’t affect you. But as my colleague Teeka Tiwari will tell you, that couldn’t be further from the truth.
by JP Koning, BullionStar:
I hear the term hyperbitcoinization a lot these days. It reminds me of some of the narratives that have long underpinned the gold sector.
When I first found a job in the financial industry many years ago, my boss (who was also the owner of the brokerage at which I worked) was a faithful gold bug. Leaning back in his worn chair, he’d map out his vision for the future. It usually went something like this…
Central banks of the world were on the brink of waging a war of competitive currency devaluations. Global hyperinflation would ensue. A crack-up boom would inevitably occur, or what economist Ludwig von Mises referred to as a katastrophenhausse. This would involve a complete break down of the monetary system. Paper money would become mere scrap paper, with gold left to take up the baton as money.