No Image

Is This The Global Elites’ Secret Plan For Cryptocurrencies?

September 6, 2017 Tyler Durden 0

Authored by James Rickards via Daily Reckoning blog,

Interest in Bitcoin is red hot at the moment. It’s impossible to open a website, listen to a podcast, or watch a video in the financial space without hearing about the meteoric rise in the price of Bitcoin.

Maybe you know a “Bitcoin millionaire” who bought five hundred Bitcoins a few years back for $50,000 and is now sitting on a Bitcoin fortune worth over $2,000,000. It’s true, those people actually do exist.

Yet the crypto-hysteria is distracting you from a scary truth no one is talking about.

There is every indication that governments, regulators, tax authorities, and the global elite are moving in for the crypto-kill.

 

The future of Bitcoin may be a dystopia in which Big Brother controls what’s called “the blockchain” and decides when and how you can buy or sell anything and everything.

 

Furthermore, cryptocurrency technology could be the very mechanism used by global elites to replace the dollar based financial system.

In 1958, Mao Zedong, the leader of the Communist Party of China and China’s dictatorial leader was confronted with demoralized intellectuals and artists who were alienated by Communist rule. As a policy response, he declared a new policy of intellectual freedom.

Mao declared, “The policy of letting a hundred flowers bloom and a hundred schools of thought contend is designed to promote the flourishing of the arts and the progress of science.”

This declaration is referred to as the “Hundred Flowers Campaign” (often misquoted as the “thousand flowers campaign”). The response to Mao’s invitation was an enthusiastic outpouring of creative thought and artistic expression.

What came next was no surprise to those familiar with the operation of state power. Once the intellectuals and artists emerged, it was easy for Mao’s secret police to round them up, kill and torture some, and send others to “reeducation camps” where they learned ideological conformity.

The Hundred Flowers Movement was a trap for those who placed their trust in the state.

It was also a taste of things to come in the form of the much more violent and comprehensive Cultural Revolution of 1964–1974 in which all traces of Chinese bourgeoisie culture and much of China’s historical legacy were eradicated.

Something similar is going on with Bitcoin and the Distributed ledger technology (DLT) today. Governments have been patiently watching blockchain technology develop and grow outside their control for the past eight years.

Libertarian supporters of blockchain celebrate this lack of government control. Yet, their celebration is premature, and their belief in the sustainability of powerful systems outside government control is naïve.

Governments don’t like competition especially when it comes to money. Governments know they cannot stop blockchain, in fact they don’t want to. What they want is to control it using powers of regulation, taxation, and investigation and ultimately more coercive powers including arrest and imprisonment of individuals who refuse to obey government mandates with regard to blockchain.

Blockchain does not exist in the ether (despite the name of one cryptocurrency) and it does not reside on Mars. Blockchain depends on critical infrastructure including servers, telecommunications networks, the banking system, and the power grid, all of which are subject to government control.

A group of major companies, all regulated by government, have announced a joint effort to develop an open-source blockchain as a uniform standard for all blockchain applications. The group includes JPMorgan, Wells Fargo, State Street, SWIFT, Cisco, Accenture, the London Stock Exchange and Mitsubishi UFJ Financial. That’s not exactly five guys in hoodies working in a garage. That’s a sign of the corporate-state consortium taking over.

An elite U.S. legal institution called the Uniform Law Commission, that proposes model laws intended for adoption in all fifty states, has released its latest proposal called the “Uniform Regulation of Virtual Currency Businesses Act.”

This new law will not only provide a regulatory scheme for state regulators, but will also be a platform for litigation by private plaintiffs and class action lawyers seeking recourse against real or imagined abuses by digital coin exchanges and facilities. Once litigation begins, anonymity is the first casualty.

Cryptocurrencies and the Super-Elites Plan

Consider the following additional developments:

On August 1, 2017, the SEC announced “Guidance on Regulation of Initial Coin Offerings,” the first step toward requiring fundraising through blockchain-based tokens to register with the government.

 

On August 1, 2017, the World Economic Forum, host body to the Davos conference of global super-elites, published a paper entitled “Four reasons to question the hype around blockchain.”

 

On August 7, 2017, China announced they will begin using blockchain to collect taxes and issue “electronic invoices” to citizens there.

Perhaps most portentously, the International Monetary Fund (IMF) has weighed in. In a special report dated June 2017, the IMF had this to say about blockchain:

“Distributed ledger technology (DLT), in particular, could spur change in the financial sector. …. DLT can be categorized as “permissionless” or “permissioned” depending on who can participate in the consensus-driven validation process. Permissionless DLTs allow anyone to read, transact on, and participate in the validation process. These open schemes (that underlie Bitcoin, for instance) could be very disruptive if successfully implemented. By contrast, in permissioned DLTs, the validation process is controlled by a pre-selected group of participants (“consortium”) or managed by one organization (“fully-private”), and thus serve more as a common communications platform.” (emphasis added).

IMF releases require expert translation because they are never written in plain English, and the real meaning is always hidden between the lines. But, the thrust of this report language is clear. The IMF favors “permissioned” systems over “open schemes.” The IMF also favors control by a “pre-selected group of participants” or “one organization,” rather than allowing “anyone” to participate.

This paper should be viewed as the first step in the IMF’s plan to migrate its existing form of world money, the special drawing right or SDR, onto a DLT platform controlled by the IMF. In time, all other forms of money would be banned.

These and other developments all point toward an elite group including the IMF, JPMorgan, the Davos crowd, the IRS, SEC, and other agencies converging to shut down the existing free-wheeling blockchain ecosphere, and replace it with a “permissioned” system under “consortium” control.

Big Brother is coming to the blockchain.

The post Is This The Global Elites’ Secret Plan For Cryptocurrencies? appeared first on crude-oil.news.

The post Is This The Global Elites’ Secret Plan For Cryptocurrencies? appeared first on aroundworld24.com.

No Image

What Happens If The OPEC Deal Expires?

September 6, 2017 Nick Cunningham 0

OPEC appears to be nervous that its production cut deal will once again fall short, and the group is already discussing the possibility of yet another extension. While the aftermath of Hurricane Harvey continues to drive headlines in the energy sector, the attention will once again shift back to OPEC as the year wears on and we head into 2018. OPEC had hoped that a nine-month extension of its original six-month production cut deal – 1.2 million barrels per day from OPEC, plus reductions of nearly 0.6 mb/d from non-OPEC countries – would…

The post What Happens If The OPEC Deal Expires? appeared first on aroundworld24.com.

No Image

Israel reducing water supply to Palestinians in Jordan Valley

September 6, 2017 Middle East Monitor 0

Israeli occupation authorities are reducing the quantities of water provided to Palestinian areas in the northern Jordan Valley mostly under the pretext of “water scarcity”. Moataz Bisharat, in charge of the Jordan Valley settlements’ file in the Palestinian Authority, said that during the past few months, the occupation authorities started reducing water supply to Ayn Al-Bayda, Bardala and Kardala. In an interview with Quds Press today, Bisharat claimed that the occupation reduced the amount of water yesterday which significantly affected the citizens, and created a crisis for many houses and factories. He pointed out that “there are areas and neighbourhoods that water does not completely reach.” He noted that they contacted the concerned authorities, which in turn addressed the Israeli […]

The post Israel reducing water supply to Palestinians in Jordan Valley appeared first on aroundworld24.com.

No Image

North Korean Sanctions May Hurt China’s Oil Giants

September 6, 2017 Tsvetana Paraskova 0

Tensions over North Korea’s flexing of its nuclear capabilities over the past few months reached a new peak last weekend when Pyongyang conducted its sixth and most powerful nuclear test so far. South Korea, Japan, and the United States are on high alert, and U.S. President Donald Trump is stepping up his rhetoric aimed at the countries who continue to do business with North Korea. “The United States is considering, in addition to other options, stopping all trade with any country doing business with North Korea,” President Trump…

The post North Korean Sanctions May Hurt China’s Oil Giants appeared first on aroundworld24.com.

No Image

Oil Markets Need To Plan For EV Dominance

September 6, 2017 Nick Cunningham 0

There will be more than a billion electric vehicles on the road by 2050, according to Morgan Stanley, adding one more voice to notion that the EV revolution is coming. The investment bank says that despite hiccups for many EV models to date, Tesla’s success thus far “shows that the consumer preference for internal combustion engines can be swayed.” Morgan Stanley analysts go on to add: “technology and usability are improving, and charging times are falling. There will come an inflection point where range and usability combine…

The post Oil Markets Need To Plan For EV Dominance appeared first on aroundworld24.com.

No Image

South Korea Protesters Clash With Police Over Deployment Of US THAAD Missiles

September 6, 2017 Tyler Durden 0

Submitted by Stock Board Asset

South Koreans clashed with police ahead of the deployment of four more Terminal High Altitude Area Defense (THAAD) systems in southern South Korea. Per Yonhapnews, the clash occurred as police were trying to disperse about 400 residents from their community center near the U.S. missile defense base in Seongju, some 300 kilometers south of Seoul. 

Residents of the South Korean province of Gyeongsangbuk-do have taken to the streets, objecting to the local installation of the Terminal High Altitude Area Defense (THAAD) system. Hundreds of protesters confronted police, the Yonhap news reported.

Twitter users showed protesters clashing with police.

Clashes in #SouthKorea between police and protesters that try to block the military convoy delivering a THAAD missile system to #Seongju. pic.twitter.com/2v2Gr4Dd4i

— Guido Mastrangelo (@GuidoGma) September 6, 2017

Scuffles breaking out between protestors and police.

Protesters and police scuffle in Seongju over THAAD deployment in South Korea

LIVE NOW: https://t.co/1DUrf0nRU9 pic.twitter.com/45E8b5IUWp

— Ruptly (@Ruptly) September 6, 2017

Terminal High Altitude Area Defense (THAAD) system, is an American anti-ballistic missile defense system the can intercept and destroy short, medium, and intermediate range ballistic missiles.

How the Terminal High Altitude Area Defense (THAAD) system works.

Per The Telegraph,

Seoul initially approached the Pentagon about the capabilities and cost of THAAD in October 2013, but later decided to develop its own long-range, surface-to-air missile. The crisis on the Korean Peninsula has deepened far more rapidly than Seoul anticipated, however, and the US and South Korean defence ministries agreed in July 2016 that THAAD would need to be deployed by the end of the following year.

The Chinese Foreign Ministry demands an ‘immediate stop’ to THAAD deployment across South Korea. Some reports say THAAD’s radar can be used to monitor the movements of the Chinese military.

#Chinese Foreign Ministry reiterates its opposition, demands “immediate stop” to #THAAD deployment in #ROK https://t.co/yqj7Kr22RP pic.twitter.com/ONlNVnyU2D

— CGTN (@CGTNOfficial) September 6, 2017

China has imposed a number of undeclared economic sanctions on South Korea, including banning domestic travel agents from selling tours to South Korea. South Korea’s Hyundai Motor said it had suspended production at one of its China factories on Tuesday after a supplier refused to provide parts due to delays in payment – its second such incident in as many weeks. According to Reuters, frayed relations with suppliers to its venture with BAIC Motor Corp Ltd are adding to headaches for Hyundai in China, where it has seen sales slump due to diplomatic tensions between the two nations.

Beijing insists, however, that the measures are not sanctions and are unconnected to the THAAD dispute.

Conclusion: As the Eastern hemisphere positions for war on the Korean Peninsula, South Korean citizens make a last ditch effort in the form of a protest to stop the military build up by the United States in their country.

The post South Korea Protesters Clash With Police Over Deployment Of US THAAD Missiles appeared first on crude-oil.news.

The post South Korea Protesters Clash With Police Over Deployment Of US THAAD Missiles appeared first on aroundworld24.com.

No Image

Netanyahu will not meet with Jewish leaders

September 6, 2017 Middle East Monitor 0

Israeli Prime Minister Benjamin Netanyahu will not meet with heads of Jewish organisations in the US during his visit to New York in a fortnight according to media reports. Netanyahu is due to attend the opening of the UN General Assembly after meeting with members of Jewish organisations in Argentina and Mexico. Yesterday, Israeli news site Walla quoted an American Jewish source as saying that he expects Netanyahu to hold personal meetings with a group of American Jewish organisations but not to hold a big joint meeting with them. He added that there are disagreements between the Jewish groups in America and the Israeli government because of a ban which is in place at the Buraq Wall which prevents reformist […]

The post Netanyahu will not meet with Jewish leaders appeared first on aroundworld24.com.

No Image

Sudan closes its borders with Libya ‘to prevent arms trafficking’

September 6, 2017 Middle East Monitor 0

Sudan today announced that it closed its land borders with Libya, Chad and South Sudan to prevent arms smuggling. Vice President Hassabu Mohamed Abdalrahman said: “We have closed our land borders with Libya, Chad and South Sudan to prevent smuggling arms and four-wheel drive vehicles.” He gave no further details of the mechanism of implementation and duration of the closure. Sudan also has land borders with Egypt, Ethiopia, Eritrea and Central Africa. Hassabu revealed that “60,000 four-wheel drive vehicles were smuggled in to Sudan from Libya, Chad and South Sudan.” “The smuggled car owners committed crimes in other countries, such as murder, smuggling, money laundering and drug dealings. In addition, Interpol has recently sent requests to Sudan to register the […]

The post Sudan closes its borders with Libya ‘to prevent arms trafficking’ appeared first on aroundworld24.com.

No Image

API Reports Crude Inventory Build As Demand Falters

September 6, 2017 Julianne Geiger 0

The American Petroleum Institute (API) reported a build of 2.791 million barrels in United States crude oil inventories, compared to analyst expectations of a build of 4.022 million barrels for the week ending September 1. Gasoline inventories fell by 2.544 million barrels for the week ending September 1, against a larger expected draw of 5.0 million barrels. That US crude oil inventories would build in the wake of Hurricane Harvey was largely anticipated, with some saying as much as 40-60 million barrels could be added to inventory while shuttered…

The post API Reports Crude Inventory Build As Demand Falters appeared first on aroundworld24.com.