Wednesday, May 23, 2018

The War on Cash and the Future of Cryptocurrencies

by Nick Giambruno, International Man:

Editor’s Note: Financial repression is a devious tactic, and at some point, every heavily indebted government uses it. It’s inevitable. And no entity on the planet is more indebted than the US government.

The Financial Times defines financial repression like this:

A term used to describe measures sometimes used by governments to boost their coffers and/or reduce debt. These measures include the deliberate attempt to hold down interest rates to below inflation, representing a tax on savers and a transfer of benefits from lenders to borrowers.

Financial repression is also used to describe measures to facilitate a domestic market for government debt and the imposition of capital controls. The combined effect of all these measures means funds are channeled to the government that would otherwise flow elsewhere.

Why Gold Is The King Monetary Asset, Not Bitcoin

by Steve St. Angelo, SRSRocco Report:

There seems to be a lot of misinformation being peddled on the internet about gold and bitcoin. One major misconception is the notion that bitcoin will replace gold as a monetary instrument. Some analysts, once stanch precious metals advocates now turned crypto aficionados, believe in such theories that there is too much gold in the world to be used as money or that it is now just a barbarous relic. Just a year or so ago, these same supposed analysts were criticizing the Mainstream media financial network talking heads for calling gold as a barbarous relic, but now have jumped on the bandwagon.

Steve Wozniak: Bitcoin And Blockchain Will Achieve Full Potential In a Decade

by Veronika Rinecker, Coin Telegraph:

Apple’s co-founder Steve “Woz” Wozniak has commented positively about cryptocurrencies and blockchain technology in his opening speech at the WeAreDevelopers World Congress 2018 in Vienna, Austria.

According to a report by Cointelegraph auf Deutsch Wednesday, May 16, Wozniak considers blockchain to be a “great idea.” He further said:

“[Blockchain] is the next major IT revolution that is about to happen.”

New Bitcoin Documentary Shatters Mainstream Media’s Narrative [VIDEO]

by Jeff Berwick, The Dollar Vigilante:

You know what’s almost as rewarding as being right about Bitcoin? The satisfaction of saying “I told you so” to all the powerful naysayers who scoffed at crypto years before it became today’s most profitable trend.

And that’s what the new documentary “Bitcoin: Beyond the Bubble” does so well, capturing the establishment freakout we in the crypto world have painstakingly endured for so many years.

It was only a few years ago that I was sitting on the set of Fox Business’ Varney & Co TV program, where a flabbergasted and skeptical Stuart Varney sneered at the notion of “taking my real dollars and…then you give me virtual money in return!”

German Bank Allows Users To Transfer Loans Anywhere In The World Using Bitcoin

from ZeroHedge:

With the US set to blacklist Iran from global dollar-based transactions, here’s an idea for Tehran: use Bitcoin to make, and accept, payments from its trading partners. And, there’s even a bank ready to serve Iran when it comes knocking: according to Reuters, German Radoslav Albrecht has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin.

That’s right: bitcoin’s money-laundering, capital-controls evading capabilities – the reason why we said it’s going much, much higher back in September 2015 when it was just above $200 – are finally going mainstream. And not only that, but in one move it is disintermediating the multi-trillion industry behind private money creation known as “banking.”

It’s therefore hardly a surprise that the company’s motto is “see no bank, hear no bank, speak no bank.”