Friday, December 14, 2018

The New Cash? Why Governments Don’t Like Cryptocurrency

by Steven Maxwell, Activist Post:

Cash is a problem for banks and governments. And, as we know, banks and governments are joined at the hip – each creating policies that strengthen the power of the other. It is no mystery, then, why we continue to see an acceleration in the “War on Cash.”  Cash creates a barrier to tracking and control and removes the ability to charge a wide range of processing fees and hidden charges. Cash impedes easy tax collection for governments, and creates the perception that governments are allowing crimes and corruption to occur without the ability to swiftly crack down on “evildoers.” Clearly, such an instrument would become the enemy to these institutions.

Indian Government Panel Suggests Crypto Dealings Should be Illegal, Local Sources Say

by Adrian Zmudzinski, Coin Telegraph:

An Indian government panel has reportedly suggested a new legal framework within the Reserve Bank of India (RBI) that completely bans cryptocurrencies in the country. English-language Indian media outlet CNBCTV18 reported on the framework on Dec. 6.

The article cites an unnamed source as noting that “the panel has categorically said that all such currencies should be treated as illegal” and that “any kind of dealing in such currencies should be treated as” such.

CNBCTV18 notes that the Indian government had created a panel to create “norms” for digital currencies — headed by secretary of the Department of Economic Affairs (DEA) Subhash Chandra Garg — which submitted its report to Indian finance minister Arun Jaitley.

Russia Continues Moving Away From Dollar As Banking Sector Incorporates Blockchain

by Rory Hall, The Daily Coin:

Let’s not forget that Russia host the worlds largest blockchain technology conference in June 2018. This is to say nothing of the fact that President Putin met with the developer of Ethereum almost 2 years ago to discuss how the technology works and how it could be used in the Russian economy.

As Matt Agorist, The Free Thought Project reported in June 2017

The CRYPTO CRASH Of 2018 And The FUTURE Of BITCOIN – Hint: Blockchain Tech Isn’t Going Away!

from Press For Truth:

Crypto/Silver Regulators = Clueless, Criminal or Corrupt?! (Bix Weir)

from RoadtoRoota:

Keiser Report: Yellow Vests and the Cantillon Effect (E1313)

from RT:

In the second half, Max interviews Chris Martenson of about the economic gap created by central bank money printing and where it all goes from here as political instability rises.

Keiser Report: Frackers Burning Cash (E1312)

from RT:

In the second half, Max continues his interview with Egon von Greyerz of about the credit cycle turning and what next for gold. And, if the gold rallies, what happens to precious metals? They also discuss Venezuela’s gold being held hostage by the Bank of England.

Central Banks Looking at Creating Their Own Cryptocurrencies

by Martin Armstrong, Armstrong Economics:

The IMF has recommended that all Central banks should issue their own cryptocurrencies. Indeed, they are looking at using Block Chain to keep track of taxes and to enforce negative interest rates with cryptocurrencies which would allow them to impose negative interest rates whenever necessary. With adopting cryptocurrencies that governments would control, we will come one step closer to losing all our freedom. Central banks could enforce negative interest rates with cryptocurrencies and thus people would find their accounts just garnished. You could not hoard cash and withdraw it from banks. They are also looking at this as a way to manage a banking crisis stopping runs on banks. This technology is also causing those in the hunting of tax revenues to lick their lips.

Bitcoin regains $4000 handle after sustaining another 10% loss overnight

by Kenneth Schortgen, Shotgun Economics:

Bitcoin’s crash over the past week continued up until the start of Asian trading here on Nov. 25 after falling as low as $3578 earlier today.  However it appears that buying volume across the entire cryptocurrency sector has helped propel it back over $4000 per coin.