Tuesday, June 22, 2021

Meet The Cabal That Are Framing Domestic American Activism As “Russian Influence” and “Fake News”

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by Adam Carter, Disobedient Media:

Can we trust the judgement of think-tanks who have labeled Twitter users as part of a ‘Russian influence campaign’ as sound when those same entities provide little evidence, and their high-level members include former Clinton supporters?

At the beginning of 2017, an initiative was launched by a non-partisan think-tank called the German Marshall Fund US (GMFUS) under the name “The Alliance For Securing Democracy” (ASD).

During the Summer, ASD started working on a project they called the “Hamilton 68 Dashboard“, an effort that was presented to the public as a means of monitoring Russian disinformation efforts on Twitter, apparently boosted by research covering a three year period.

Over recent months, the press has reported on what the dashboard identifies as Twitter activity from those ASD have classified as Russian or, at least, involved in Russian influence operations.

Although some in the mainstream press have divulged the association between ASD and GMFUS, hardly anyone has disclosed the affiliations between those running ASD and special interests, or similar connections with the advisory board of GMFUS.

Methodology & Lack of Disinformation Classification

Obviously, with a contentious project such as the “Hamilton 68 Dasboard”, some people will immediately question the results and the first thing the doubters are likely to latch onto will be the methodology (or lack thereof). Reassuringly, ASD do provide details of the methodology and it does, on the surface, seem fair and reasonable.

However, while analytical methods for identifying associations and social media relationships are outlined, if you read it through to the end you may notice one thing missing. The methodology for actually classifying tweets as disinformation or part of a Russian influence campaign isn’t disclosed and neither are samples of what had been declared disinformation.

This is, of course, fundamental in assessing the veracity of the effort.

How can we be sure that those ASD deems to be “Russian Influence” aren’t just individuals who have expressed opinions or stated factual information that is politically inconvenient for ASD’s staff and advisory council (and others connected to GMFUS)?

The answer is that we can’t know for sure and are expected to trust their judgment. Unfortunately for them, events over the past week suggest that this is trust they don’t deserve.

Branding #ReleaseTheMemo As “Russian Influence” Backfires

On January 18, 2018, the US House Intelligence Committee held a vote and agreed to allow house members to view a classified memo relating to alleged abuse of FISA (Foreign Intelligence Surveillance Act) laws.

Later that day, Republican Senator Steve King stated via Twitter that he had read the memo and that it was “worse than watergate”, using the hashtag #ReleaseTheMemo in his tweet.

This was followed by Republican Congressman Mark Meadows posting a video of a statement issued on the house floor which he then shared on Twitter using the same hashtag:

Read More @ DisobedientMedia.com

Bitcoin, Gold and Silver Report – Keith Weiner

by Keith Weiner, Sprott Money

That’s it. It’s the final straw. One of the alternative investing newsletters had a headline that screamed, “Bitcoin Is About to Soar, But You Must Act by August 1 to Get In”. It was missing only the call to action “call 1-800-BIT-COIN now! That number again is 800 B.I.T..C.O.I.N.”

Is it about to go up? Maybe. We don’t know. And everyone should by now be skeptical of all “rocket to take off on XYZ date” claims. Between them, surely these newsletters have predicted thousands of the past zero blastoffs of gold and silver since 2011.

We have discussed bitcoin in the past, to argue that it is not money (a video here, and articles here and here). Bitcoin is not money because it is not a good. It’s just a number in a database. Money is a kind of good (genus). The most marketable kind (differentia).

Money must be a good because we are physical beings in a physical world and final payment—which is not demanded all the time, or even often—must be a physical thing that you can hold and touch in your physical hands. Bitcoin is not a physical good, so it represents, not final payment, but intermediate payment. It is not final until you trade the bitcoin for a real good. In the language of economics, a real good has utility apart from one’s hope to exchange it for something else. Bitcoin has no utility apart from this hope of its value in exchange, its price.

There is not one price but always two prices: bid and offer. When one has a thing and relies on someone else to buy it (or accept it in exchange), it is the bid price which is relevant. The offer price may be close above the bid, or it may be much higher. Typically sellers are reluctant to sell below their cost, but that has nothing to do with buyers. Buyers make a bid based on how they value it (or not).

This fact right here is sufficient to debunk the labor theory of value. Suppose producing a painting takes you 50 hours of labor plus $100 in materials. That does not matter. If your name is Banksy, people might be happy to pay tens of thousands of dollars for the painting. If your name is Keith Weiner, not so much (Keith is not known for having any skill at painting, though he can take some mean photographs).

For all commodities, for all real goods, for all tangible products, there is always a bid. Even a junk car is worth something to the scrap dealer. Even sand is worth something to the landscape contractor.

If a commodity is useful for something, it will have a robust bid. The price may be low or high, but the bid will be set by those who have a productive purpose in mind. If you can buy something, add a little bit of value from labor (e.g. cleaning it up) and sell it for $1,000 then you are willing to pay up to, say, $900.

Take copper. Copper can be used for wiring and plumbing (and many other things). If you manufacture plumbing, and you know that with a dollar worth of labor you can turn copper into a pipe that sells for $3.75, what are you willing to pay for the copper? Perhaps you would go up to $2.50 (it’s now about $2.85). If the price of copper drops, this new buyer will come into the market (for now, plumbing is made of plastic).

In this light, we now get to the 64 billion dollar question. What is the bid on bitcoin? What is it useful for, and who would buy it for that purpose?

Right now, bitcoin is a lot of fun. Its price is being driven up by frenzied speculators. With each new price level, proponents become bolder and more aggressive. Bitcoin will replace the dollar, bitcoin will go up to $1,000,000, the dollar is failing, get yours before August 1, etc. Many of these arguments were popular when the price of gold was rising relentlessly up through 2011.

But what’s the ultimate bid? Where is the floor, where it cannot go below because it’s just too profitable to buy it, transform it into a higher-value good to sell at a profit? Where is the floor where individuals will buy more and more because they want bitcoin in their living room, or in the tank of the car, or in their refrigerator, or in their basement?

It doesn’t exist, does it?

This is not a prediction for tomorrow morning. Indeed timing these things is impossible. However, there will come a point when the speculators turn. Perhaps their collective thumbs will move the planchette on the price-chart Ouija board to paint an ugly chart pattern (much uglier than head-and-shoulders). Whatever its initial cause, what will happen is clear in light of the above discussion.

The price of bitcoin could drop to any level. Incidentally, bitcoin could be used in exchange as it is now, whether its price is $0.01 or $1,000,000.

People often say that bitcoin is like gold, or even say it is “digital gold”. They are just trying to cash in on gold’s good name. The problem of the bid is another key difference between bitcoin and gold. Gold is an extremely useful commodity. Bitcoin is not any kind of commodity at all. It does not have a real bid at all, only the ever-changing bid of the fickle speculator.

The prices of the metals rose some more this week, with gold +$13 and silver +$0.24. However, that leads to the question: is it speculators getting ahead of the fundamentals, or is it real?

Three weeks ago, with the price of gold $56 lower and the price of silver $1.15 lower than today, we asked if that was capitulation. We cited some circumstantial evidence (plus a rising scarcity of both metals as measured by the cobasis). We did not call for a moonshot, but a “normal trading bounce within the range.”

Today it is time to ask if the bounce is down, and if now is the time for a normal correction. And if it’s the same answer for both metals.

Read More @ SprottMoney.com

Blockchain Backed By Silver!

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from TruthNeverTold:

Keiser Report: Last of the Fiat Notes (E1413)

from RT:

In the second half, Max talks to Chris Martenson of PeakProsperity.com about the choice between ‘greatness and oblivion’ in our environmental and economic policies going forward. They also discuss whether or not the U.S. can go negative on their sovereign debt yields and still retain its reserve currency status.

Keiser Report | Money Printing Go Brrrr | E1518

from RT:

In the second half, Max interviews Alasdair Macleod of GoldMoney.com about gold in the age of pandemic. They discuss the increasingly unstable markets and ask whether or not they are a sign of the end of the fiat currency regime.

John Rubino – Yellen’s Retreat and the Rise of the KleptoCurrencies

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by Kerry Lutz, Financial Survival Network:
John Rubino joined us for a discussion of Fed Chairwoman Janet Yellen’s retreat from so-called interest rate normalization. Looks that raising rates is off the table for the foreseeable future. Can QE to infinity be far behind. Things aren’t so good in the Crypto-currency space. Prices of Bitcoin et al., have been hitting the skids the past week. Will it continue? As of last Wednesday there were 970 Crypto-currencies. Does the world need any more? But it’s sure to get them regardless. Let’s see where they head now.

Click HERE to Listen