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Cant wait for this to run imo cover shorty lol
PYCT Beat the DTCC twice its all in the Press releases! Strong buy imo! something is up! imo
THE NEW YORK COIN CENTER IS OPENING IN SOHO!! Free education / information about the benefits of cryptocurrencies (Bitcoin, Litecoin, Ethereum and NYC). Planning to have possession and exterior signage up NEXT WEEK! Did you miss bitcoin? **Don't miss NYC!** (newyorkcoin.net)
from NYCoin reddit https://www.reddit.com/r/NewYorkCoin/comments/830omw/the_new_york_coin_center_is_opening_in_soho_free/
Remember Crypto market never closes always open 24/7 even on weekends none of this premarket after market manipulation 9:30 to 4 bell stuff lol.
GNCP still Long and Strong!
United States v. John Edwards et al (CMKM)
Case number: 2:09-CR-00132-RLH-RJJ
The public is reminded that an indictment contains only charges and is not evidence of guilt. The defendants are presumed innocent and are entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.
Defendants
John Edwards, Nickolaj Vissokovsky, Brian Dvorak, Ginger Gutierrez, and James Kinney
Scheduled Court Hearing
Status Hearing - October 23, 2018
Trial Date - October 29, 2018
(Nickolaj Vissokovsky will not get a court date until he makes his initial appearance in Nevada)
U.S. District Court - Las Vegas, NV https://www.justice.gov/usao-nv/victim-witness-assistance/us-v-john-edwards-et-al-cmkm
A false rumor has circulated that confuses the criminal prosecution in the District of Nevada (United States v. John Edwards, et al., 2:09-CR-00132-RLH-RJJ) with a civil suit out of the Central District of California that has now been dismissed (David Anderson, et al., v. Christopher Cox, et al., 8:10 –CV-00031-JVS-MLG). There are many variations of this rumor. However, in short, the Anderson civil case is not related to the Edwards criminal case. In Anderson, the plaintiffs allege that the SEC and other agencies of the U.S. Government conducted a sting operation against “illegitimate brokers, dealers, market makers, hedge funds, and other persons and entities that had engaged in naked short selling of CMKM Diamonds Inc. stock.” Anderson Rev. First Amended Complaint, p. 17, para. 48. Essentially, the Anderson case involved allegations against an entire industry. In contrast, the superseding criminal indictment in the Edwards case charges a more clearly defined group of defendants: insiders at one company (CMKM) and people who enabled them.
Additionally, in the course of investigating and litigating the Edwards criminal case, government personnel in the District of Nevada have not encountered any evidence indicating that a government agency conducted a sting operation against naked short sellers of CMKM stock. Government personnel in the District of Nevada have also not come across any evidence of any settlement fund (much less any settlement fund with trillions of dollars) potentially available to pay possible claims of CMKM shareholders. The criminal investigation in the District of Nevada resulting in the United States v. John Edwards, et al., indictment involved no sting operation.
We hope this statement clarifies the differences between United States v. John Edwards, et al., with the facts alleged in David Anderson, et al., v. Christopher Cox, et al. The public is reminded that defendants are innocent until proven guilty. Thank you.
Court Documents
Second Superseding Indictment Link to PDF
On March 24, 2010, the grand jury returned a sealed Second Superseding Indictment which added the following defendants: Jeffrey Turino, Nickolaj Vissokovsky and Jeffrey Mitchell. In addition, several new charges were added, alleging that certain defendants engaged in a conspiracy to conduct an enterprise engaged in a pattern of racketeering activity, a conspiracy to sell unregistered securities and to commit securities fraud and a conspiracy to commit money laundering. On May 6, 2010, the Second Superseding Indictment was unsealed.
Superseding Indictment Link to PDF
The superseding indictment in United States v. Edwards, et al., alleges as follows: the defendants combined and conspired to perpetrate a fraud involving the issuance and sale of CMKM stock over a period of several years. Hundreds of billions of shares of CMKM stock were sold to thousands of investors during that span. Investors in CMKM are invited (but not required) to complete the following questionnaire. The questionnaire solicits information pertaining to this case for purposes of enabling prosecutors to confer with and receive information and opinions from victims of the CMKM scheme. Please note that while the completed questionnaires will not be publicly accessible, relevant information may be disclosed to the court and/or defense counsel in accordance with the Federal Rules of Criminal Procedure and other laws.
TRX
Wall Street Journal News- NewYorkCoin Gains Traction in Cryptocurrency Circles
Created in 2014 and named for our fair city, the altcoin is enjoying a surge of support among enthusiasts
NewYorkCoin Gains Traction in Cryptocurrency Circles
Photo: Rob Wilson
By Anne Kadet
Feb. 20, 2018 12:18 p.m. ET
In Manhattan, a cup of coffee will set you back about $2. Or .00098 Bitcoin. Or—here’s a new one—12,500 NewYorkCoins.
Never mind alternative currencies such as Tigercoin, Ethereum and BiblePay. There’s a cryptocurrency named for our fair city, and it’s gaining momentum.
Last week, I met two of the coin’s volunteer boosters at Gila’s Nosh on East 23rd Street, one of several local businesses accepting NewYorkCoin as payment.
James Burrell, a high-energy business lawyer, and Charles Fulnecky, a low-key developer, explained the currency’s features.
Transactions are confirmed in 30 seconds—20 times faster than Bitcoin, they said. And there’s no network fee on small transactions like buying groceries, making it ideal for daily use.
Of course, like most cryptocurrencies, NewYorkCoin runs on open-source code available to anyone online.
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“Can’t I just take your code, launch my own currency and call it Anne Coin?” I asked.
“Of course,” said Mr. Burrell.
“Absolutely!” said Mr. Fulnecky. “But it’s not just the code. It’s the community that builds up the coin.”
NewYorkCoin, created in 2014 by an unknown developer, has enjoyed a surge of support in recent months. More businesses are accepting the currency and there’s a growing interest among cryptocurrency developers. There’s even a new Meetup group where enthusiasts who frequent online forums can gather in person to discuss their altcoin adventures.
Everyone jumping on the bandwagon has a different angle. Mr. Fulnecky says projects like building a mobile-wallet app for the coin are a fascinating challenge. “I’d rather be doing this than anything else I can think of, from a coding perspective,” he said.
For Alexander Nicholas, it’s a chance to get in early on a new trend. He’s accepting the currency at KEATS, his Manhattan bar, and at his EPIC Hybrid Training fitness studios. “That’s just my mind-set, being ahead,” he says.
He’s even hosting the community’s monthly Meetup in his bar, where he plans to install the world’s first NewYorkCoin ATM.
Then there’s the miners, people like Cameron Tareen who digitally mint NewYorkCoin on their home mining rigs.
Mr. Tareen started mining NewYorkCoin last month after researching currencies that could be profitably produced. His says his rig churns out about 50,000 NewYorkCoins a day—worth roughly $7.50. The electricity used to power his machine, meanwhile, costs about $2 a day. That’s a small gain, he accedes, but if the value of the currency hits $1, he’ll be a millionaire many times over.
Despite growing support, the coin’s future is far from certain. Its value peaked earlier this year at $0.001162. The total market cap of all NewYorkCoin in circulation is just $22 million, compared with Bitcoin’s $196 billion.
Then there’s the split between the community’s two factions: The group associated with Mr. Burrell, and a group led by “ Charlie K. ,” a Bronx native living in Colorado.
Charlie K. who, like many in the cryptocurrency community insists on anonymity, makes frequent trips to New York City to promote the coin, including a weekend walking the streets of Manhattan wearing a sandwich board. “It was a little goofy, but it got people’s attention,” he said.
He says he’s planning to open a storefront gallery in lower Manhattan next month, extolling the coin’s benefits and history.
Mr. Burrell’s crowd isn’t sure such promotional efforts are necessary or even desirable. The two factions have launched rival websites, designed competing logos, and sparred over development issues. But it’s a friendly dispute, both sides contend.
“I kind of look at him as the crazy uncle,” says Mr. Fulnecky of Charlie K. “We’re family.”
NewYorkCoin has a lot going for it, says Bitcoin and blockchain expert Nick Spanos, founder of the Bitcoin Center NYC.
“You can’t discount a coin that’s been alive for so long,” says Mr. Spanos, who has no investment in NewYorkCoin.
And the name doesn’t hurt, he adds: “It’s not, like, Oshkosh Coin, it’s New York City!”
So yes, I’m now the proud owner of 250,000 NewYorkCoins—worth about $40. I suggested to Mr. Burrell and Mr. Fulnecky that we meet again in a year or two, all driving our Lamborghinis.
“You mean our moon Lambos,” said the optimistic Mr. Fulnecky. “We’ll have Elon Musk shoot us up to the moon.”
https://www.wsj.com/articles/newyorkcoin-gains-traction-in-cryptocurrency-circles-1519147112
WOW Nice volume GNCP Good luck!!!
Yup! hope GNCP does! them cryptos trade 24/7 never stops and they I make money off them. stocks all they do is issue shares and keep the price down. losers! imo but yes!!!
loaded over 100 million NYC New york coin. watch when it hits 100 imo in years to come lol like the others i loaded up on they never stop moving lol rigged stocks sucks. but I do have GNCP sitting there waiting for justice in the fiat market. good luck,
NYC is up GNCP next! https://investorshub.advfn.com/boards/board.aspx?board_id=33241
Dont worry made my money in cryptos when CMKX and tuscansun spoke about them in paltalk. BOOOOM!!! and still waitng for arrests in for the Alphabets on the wrong side of the cmkx trade imo lmao!
still awaiting CMKX holders to be made whole. with penalties and fines imo and more! imo oh and gold backed cash imo
I know long and strong!!!
NYC New York coin officially listed on Crex24! EXHCANGE https://crex24.com/exchange/NYC-BTC.
https://crex24.com/ European exchange/
A big thank you to everyone who donated because you made this happen. On to the next one!
To donate towards our next exchange - RCNcHge4GNfiPzdmg5i653ubzSkQanNfCv
https://twitter.com/crex_24
https://twitter.com/nycoincommunity/status/965602789467590656
https://www.reddit.com/r/NewYorkCoin/comments/7yn6st/crex24_listing/
NYC is now traded on a few crytpo exchanges and more coming. stay tuned.
Coinomi adding NewYorkCoin (NYC) to #1 rated Bitcoin and altcoin mobile wallet
Coinomi, Fintech's finest security-first multi-asset wallet for Bitcoin and altcoins has announced they will be adding NewYorkCoin (NYC) to their robust mobile platform during their next update. Only 93 coins are currently available at Coinomi's website (https://www.coinomi.com) which will put NewYorkCoin in a very exclusive group of cryptocurrencies to watch this year. Coinomi is also getting ready to release their first mobile wallet for Apple's iPhone market, which will introduce a whole new crowd of digital currency enthusiasts to Coinomi and the growing list of coins they support.
Who is NewYorkCoin?
NYC is a fair launch cryptocurrency that's been around since March 6th, 2014. Still a relative unknown in the crypto-world, NewYorkCoin has a lot of very unique and attractive features. For starters, the NYC network is completely free to use. Meaning that sending and receiving NewYorkCoin anywhere in the world is absolutely free of charge. Free worldwide remittance! If that wasn't enough to get you excited, NYC also offers lightning-fast transaction confirmations. Bitcoin confirmations take at least 10 minutes each and the fees are approaching astronomical levels just to get a single Bitcoin confirmation in under an hour. Confirmations on the NYC network occur every 30-seconds, without fail. And no additional fees (actually no fees whatsoever) are required to complete your transaction in a timely manner. This feature allows NewYorkCoin to be used at the retail level for time-sensitive consumer transactions. Anywhere in the world.
Another very impressive feature of NYC is the low difficulty mining (specialized computer equipment used to verify network transactions). Easy mining is literally built into NYC code which uses a basic scrypt hashing algorithm (vs SHA-256 for Bitcoin which requires much more powerful computer equipment) and Kimoto Gravity Well (KGW). The mining difficulty on the NYC network is constantly adjusted based on current hashrate hitting the network to ensure difficulty stays low and the network remains free to use. Low difficulty mining means lower cost, less powerful equipment demanding much less energy is required to verify network transactions which keeps NYC miner's profitable from just block rewards without requiring any additional fees to complete their critical verifications.
Bitcoin, the original cryptocurrency and clear market leader, has been taking a bit of a beating recently mostly due to the Korean government announcing plans to introduce stricter regulations. With Bitcoin's market value almost cut in half from recent highs, Bitcoin currently possesses a $200 Billion USD market capitalization. NewYorkCoin is an undiscovered cryptocurrency that has recently been gaining a lot of attention but still has a tiny market cap of only $46 Million USD. With the very useful (and unique) features described above, NewYorkCoin appears to be ready to quickly move up the crypto ranks. Although NewYorkCoin has seen its price rise by over 10,000% in just the past 6 months, NewYorkCoin seems to just be getting started. Keep a close eye on this one. And don't blink.
Media Contact
Company Name: New York Coin
Contact Person: Eileen Schechter
Email: eileens@gmail.com
Phone: (212) 535-0538
Country: United States
Website: http://newyorkcoin.net
Information contained on this page is provided by an independent third-party content provider. Frankly and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact pressreleases@franklyinc.com
http://www.kulr8.com/story/37321477/coinomi-adding-newyorkcoin-nyc-to-1-rated-bitcoin-and-altcoin-mobile-wallet#.Wnxsa1c_m8E.twitter
Check out this Meetup: NEW YORK COIN (NYC). 5X Faster Than Litecoin. NO NETWORK FEES. NYC NOW ACCEPTED! RSVP 2/21/18 2pm-3:30pm https://www.meetup.com/BTC-NYC/events/246094996/ … #Meetup #NewYork via @Meetup
Check out this Meetup: NEW YORK COIN (NYC). 5X Faster Than Litecoin. NO NETWORK FEES. NYC NOW ACCEPTED! RSVP 2/21/18 2pm-3:30pm https://t.co/KJLWVXvpud #Meetup #NewYork via @Meetup
— NewYorkCoin (NYC) - NO FEE LAYER 1 BLOCKCHAIN (@NewYorkCoinNYC) February 18, 2018
The New York Coin Center is reviewing a lease for a space in Soho bordering Chinatown/Nolita. Large exterior flag and floor to ceiling glass storefront. Soho location with great local and tourist pedestrian traffic. The NYC Center is hoping to sign a lease in next couple of weeks. (newyorkcoin.net)
The New York Coin Center is reviewing a lease for a space in Soho bordering Chinatown/Nolita. Large exterior flag and floor to ceiling glass storefront. Soho location with great local and tourist pedestrian traffic. The NYC Center is hoping to sign a lease in next couple of weeks pic.twitter.com/zLdAy9E8gO
— NewYorkCoin (NYC) - NO FEE LAYER 1 BLOCKCHAIN (@NewYorkCoinNYC) February 18, 2018
NYC New York coin article Feb 18,2018 NewYorkCoin (CURRENCY:NYC) traded down 3.4% against the US dollar during the 1 day period ending at 16:00 PM Eastern on February 11th. One NewYorkCoin coin can currently be purchased for about $0.0002 or 0.00000002 BTC on major cryptocurrency exchanges including Tradesatoshi, FreiExchange, Graviex and YoBit. NewYorkCoin has a total market capitalization of $21.37 million and $16,957.00 worth of NewYorkCoin was traded on exchanges in the last day. Over the last week, NewYorkCoin has traded 10.5% higher against the US dollar.
Here’s how related cryptocurrencies have performed over the last day:
Get NewYorkCoin alerts:
Litecoin (LTC) traded down 4.7% against the dollar and now trades at $218.32 or 0.02045260 BTC.
Verge (XVG) traded down 16.7% against the dollar and now trades at $0.0752 or 0.00000705 BTC.
Dogecoin (DOGE) traded down 5.3% against the dollar and now trades at $0.0066 or 0.00000062 BTC.
Bytom (BTM) traded down 4.2% against the dollar and now trades at $0.38 or 0.00003554 BTC.
Syscoin (SYS) traded 0.4% lower against the dollar and now trades at $0.70 or 0.00006596 BTC.
Polymath (POLY) traded 22.6% higher against the dollar and now trades at $1.42 or 0.00013309 BTC.
GameCredits (GAME) traded down 7.7% against the dollar and now trades at $2.68 or 0.00025193 BTC.
BridgeCoin (BCO) traded 7% higher against the dollar and now trades at $5.32 or 0.00050089 BTC.
Einsteinium (EMC2) traded down 5.7% against the dollar and now trades at $0.41 or 0.00003850 BTC.
CyberMiles (CMT) traded down 4.4% against the dollar and now trades at $0.19 or 0.00001815 BTC.
NewYorkCoin Coin Profile
NewYorkCoin (CURRENCY:NYC) is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. It launched on March 4th, 2014. NewYorkCoin’s total supply is 132,185,463,284 coins. NewYorkCoin’s official website is nycoin.community. NewYorkCoin’s official Twitter account is @NYCCoin.
According to CryptoCompare, “NewYorkCoin is a PoW cryptocurrency based on the popular Scrypt algorithm. The NYC is themed after the North American city, New York.”
NewYorkCoin Coin Trading
NewYorkCoin can be bought or sold on the following cryptocurrency exchanges: Graviex, FreiExchange, YoBit and Tradesatoshi. It is not possible to purchase NewYorkCoin directly using U.S. dollars. Investors seeking to trade NewYorkCoin must first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase NewYorkCoin using one of the exchanges listed above.
https://www.dispatchtribunal.com/2018/02/18/newyorkcoin-nyc-24-hour-volume-hits-28201-00.html
GNCP gonna buy more of this gold mne stock imo The PIVITAL monent has arrived imo
Gold: A Pivotal Moment Has Arrived
Feb. 14, 2018
(763 followers)
Summary
Gold continues to follow the yen's bullish lead in the near term.
Investor uncertainty remains high as gold's safe haven bid returns.
A critical test of a benchmark trading level will be made this week.
You wouldn’t know it by how much stock market volatility has declined in recent days, but investors are still feeling the urge to hedge their bets in what has been a nerve-wracking past two weeks. While the bond market is being passed over by safety-minded investors this time around, gold and the yen currency are benefiting from heightened fears. In this report, we’ll discuss the relationship between these two assets which investors are now favoring as they wait for the market’s latest bout of jitters to pass.
What’s interesting to note about the recent stock market plunge is that U.S. Treasuries weren’t the go-to safe haven among worried investors. Instead, it was the old standby - the Japanese yen - and the yellow metal. On Tuesday, the yen rallied to a multi-month high and gained almost 1 percent. The yen far outshone other safe havens, and it proved that there is still an undercurrent of fear beneath a financial market which is desperately trying to stabilize.
Shown here is the Guggenheim CurrencyShares Japanese Yen Trust ETF (NYSEARCA:FXY), which was highlighted in my February 12 commentary. As I previously asserted, sustained strength in the yen normally bodes well for the near-term gold price outlook. From this perspective, Tuesday’s rally in FXY suggests that gold will soon attempt a similar upside breakout.
CurrencyShares Japanese Yen Trust
(Source: BigCharts.com)
As far as the yen goes, however, Tuesday’s upside gap in FXY may represent the start of an exhaustion-type move in the currency’s rally. Given that FXY experienced a similar occurrence last September when it attempted to rally above the $89.00 level, we should certainly expect at least some type of pullback in the fund's price line after its recent strong showing. If the yen does pull back from here, it wouldn’t necessary spell doom for the near-term gold outlook. I’ll have more to say about this in the next few days, but suffice it to say for now that gold should benefit from both the market’s current inflation concerns as well as any lingering fears over the near-term equity market outlook.
https://seekingalpha.com/article/4146835-gold-pivotal-moment-arrived
New York Coin (NYC)
@NewYorkCoinNYC
Feb 4
@CoinomiWallet HAS NOW LISTED NEW YORK COIN @NewYorkCoinNYC on http://Coinomi.com . #1 Secure Alt-Coin Wallet Lists 102 Cryptocurrencies. NYC is honored to be part of the Coinomi mobile family.
@CoinomiWallet HAS NOW LISTED NEW YORK COIN @NewYorkCoinNYC on https://t.co/RSPUZB5tAg. #1 Secure Alt-Coin Wallet Lists 102 Cryptocurrencies. NYC is honored to be part of the Coinomi mobile family. pic.twitter.com/ciiOrsDeU6
— NewYorkCoin (NYC) - NO FEE LAYER 1 BLOCKCHAIN (@NewYorkCoinNYC) February 5, 2018
NYC New York Coin Craines NY business article.
Tales from the crypto: An insider guide to the digital-currency craze
Cryptocurrencies are driving a textbook investment bubble. A growing number of New Yorkers are OK with that, so long as they keep making money
Aaron Elstein By Aaron Elstein
FEB 5 2018
Inside a graffiti-strewn loft building on a quiet Bushwick street lies the hub of a worldwide mania. It’s the headquarters of ConsenSys, a three-year-old firm that’s the brains behind Ethereum. It’s the most popular cryptocurrency this side of Bitcoin, and last year its value soared by nearly 9,000%, from $8 a unit to $723. The world’s supply of Ether, the creators’ preferred term for the currency that everyone else calls Ethereum, recently was worth about $120 billion*—twice the market value of Bank of New York Mellon, founded by Alexander Hamilton in 1784.
The ConsenSys nerve center is a tech version of Willy Wonka’s chocolate factory, with computer programmers spread throughout four rooms on two floors cooking up new ways to promulgate Ethereum. The building is also residential, so a sign reminds the 100 staffers to keep the noise down and not disturb sleeping babies. With luck, the kids are deep sleepers because brigades of investors have been marching through the hallways at a steady clip, hoping to team up with the hippest company in finance as it adds staff, opens global offices and expands into consulting, asset management and venture capital.
“I’ve been here two months,” said Kara Miley, the firm’s 25-year-old co-head of public relations. “In ConsenSys years, that’s six months.”
Ethereum is essentially a private payment network, like PayPal, where parties agree to pay for things using the cryptocurrency. For example, a customer dining at a participating restaurant that can be debited for the meal over the platform. There’s no credit card involved, so the restaurant can dispense with cashiers—and bank processing fees. Multiply scenarios like that by millions and you can start to understand why some people think Ethereum could be the next big thing. Enthusiasm is so high, Miley asked that the company’s address be kept secret, for fear that people who have made big bets on its currency will decide to make pilgrimages. “There are a fair number of crazies out there,” she said.
With a frenzy not seen since the dot-com boom, New York is in the midst of an investment craze. It seems as if just about everyone knows someone with a tale from the crypto.
While the current run will likely end with a painful crash —last week the currencies fell — scores of young entrepreneurs are busy using the blockchain technology that powers Bitcoin, Ethereum and other cryptocurrencies to build new businesses. And they are starting to drag a somewhat wary financial establishment along with them.
ConsenSys
Photo: Buck Ennis
BANKING IN BUSHWICK: ConsenSys staffers conjure? up ways to make Ethereum? a global currency.
“Of course it’s a bubble,” Ethereum co-founder Joe Lubin declared in October, speaking about the skyrocketing value of the nearly 1,500 cryptocurrencies trading on various markets. “Hopefully it’s one in a series of increasingly larger bubbles.” His candid assessment did nothing to dampen enthusiasm: Ethereum’s market value has since quadrupled, even after it fell 30% from its $1,389 peak in the past month.
Morgan Hill, a hedge fund manager who specializes in cryptocurrencies, agrees there’s a bubble. Not that he’s complaining. His firm’s investment of a few thousand dollars in Ethereum and other crytpocurrencies early last year netted him $5 million. He sold the last of it last month, but Hill’s phone is constantly buzzing with calls from investors the world over looking to ride his crypto coattails by joining his fund, which he reckons will have about $15 million under management by the end of this month.
Morgan Hill
Photo: Buck Ennis
Hill is attracting international investors eager to ride his coattails.
“There’s a lot of irrational exuberance,” Hill said, borrowing the phrase former Federal Reserve Chairman Alan Greenspan coined 22 years ago to describe investors’ dot-com mania. But Hill believes it’s all to the good. The bubble “is necessary to get everyone’s attention,” he said. “As people realize there is value here, that will hopefully help create a new global economic system.”
The new alchemists
CRYPTOSPEAK
BLOCKCHAIN The technology underpinning Bitcoin, Ethereum and other digital currencies is essentially a ledger system that records transactions electronically. These ledger entries are sorted into blocks that are chained together so that they can be tracked over time. The ledger is protected by cryptography, which makes it difficult (but not impossible) for outsiders to modify or hack it. The system is sufficiently robust that millions of users now trust blockchain to record financial transactions. That trust is the basis of Bitcoin’s value.
MINING The process of adding and validating new entries on the blockchain. It requires solving a complex math puzzle for which Bitcoin miners are paid 12.5 Bitcoins, or roughly $125,000, every time they succeed. The process is called mining because the coins were created at Bitcoin’s inception, when the total inventory was capped at 22 million. To date, 17 million Bitcoins have been “dug up.” Other cryptocurrencies have no limit on how many coins can circulate.
WALLET A digital account where users store digital currencies. Wallets are protected by a password or a string of characters, but if the holder forgets or loses it, access to the currency inside is lost, as if it were cash.
MARKETPLACES There are hundreds of cryptocurrency exchanges, with CoinBase and Bitstamp among the most popular. It’s also possible to make deals directly with other traders via platforms such as BitQuick and BitBargain. Any profits from cryptotrading must be reported to the IRS, which considers the coins property, and thus subject to capital gains taxes.
TRADING LINGO To “hodl” means to hold Bitcoin—the term’s origins trace back to a typo on a Bitcoin web forum. “Fiat,” typically used derisively by Bitcoin aficionados, describes any government-issued currency. “#BTFD” stands for “buy the f---ing dip,” and it is usually employed by hodlers desperate to find someone willing to use fiat to buy a coin as it is losing value. —A.E.
Ethereum’s story began in Jamaica. Lubin, a former midlevel Goldman Sachs executive who had built a business representing musicians, was on the island with a client when he read a white paper about how Ethereum would work. He got in touch with the paper’s author, Vitalik Buterin, now 24 years old, and in 2015 set up shop in Brooklyn.
Cryptocurrencies have been around since 2009, when the elusive figure known as Satoshi Nakamoto mined the first block of Bitcoin, then went public by linking to a British newspaper article forecasting a second U.K. bank bailout. The first Bitcoin bubble hit four years later, and a much bigger one blew up last year, driven at least in part by South Koreans’ worries that a nuclear bomb might obliterate the nation’s banks. Ethereum was the first digital currency firm to take hold in New York, where many business power brokers remain highly skeptical of the entire enterprise.
The most prominent critic is JPMorgan Chase CEO Jamie Dimon, who last year called Bitcoin a “fraud” and later said it has “no actual value.” One reason Dimon may feel that way is some investors are now using credit cards and even mortgaging their homes to buy Bitcoin. So if the currency plunges, there could be widespread defaults that sap the earnings of his bank and others.
One commonly shared view was articulated in December by Dutch bank ING Group. “One day, beyond the hype, Bitcoin will return to being the niche product that it was in its initial years,” the bank said in a client report, according to Business Insider. “Users will include tech nerds, people obsessed about their privacy, people afraid for (hyper)inflation in traditional currencies, and people wanting to circumvent central banks for ideological or criminal reasons.”
Still, the city’s financial establishment is grudgingly adapting. A Bitcoin futures market is now open, and the New York Stock Exchange’s owner recently said it is preparing to share Bitcoin trading prices with institutional investors. “My job is to get that shiny new toy—Bitcoin—on our network,” one trading executive said.
Digital currencies such as Bitcoin and Ethereum all rely on blockchain technology, a cryptography-?protected electronic ledger of continuously maintained and verified transactions shared by users on computer servers. Blockchain does have potentially useful applications for big databases, which explains why JPMorgan, despite Dimon’s dismissals of Bitcoin, is using the technology to help process certain global payments. Microsoft uses the Ethereum platform to help track supply chains.
As a business proposition, blockchain is still in its infancy and enduring plenty of growing pains. Late last year, traffic on Ethereum slowed considerably after an app called CryptoKitties debuted and gained a huge following among Asian teenagers. They were taken with the cartoon cats, whose unique “cattributes” were useful for verifying Ethereum transactions. Though it disrupted trading, Miley said the craze helped introduce scores of new users to Ethereum.
Only six cryptocurrency companies are licensed to do business in New York, and consulting firm Blockchain Driven estimated in December that just 932 people in the city work for blockchain-related businesses. But Blockchain Driven also said “it is fair to assume” that number will rise to 10,000 by 2027.
That might sound like more irrational exuberance, but money is pouring in. Venture capitalists invested a record $1 billion in crypto startups last year, according to Pitchbook. Flatiron District–based Chainalysis, which specializes in tracking Bitcoin transactions for financial institutions and law enforcement, has 60 employees and is looking to hire 40 more in the coming months, a spokeswoman said. Chronicled launched in 2014 as a blockchain company verifying the authenticity of sneakers and handbags, and uses the technology to track pharmaceuticals. The firm now wants to expand into food and use blockchain to track items such as lobsters from fishing boats to restaurants.
“We have 30 employees,” said co-founder Samantha Radocchia, “and 25 job openings.”
Of course, cryptomania has little to do with improving the financial world’s plumbing. Instead, it’s largely seen as the magic formula that allows anyone with enough computing power to become a modern-day alchemist turning code into currency beyond any government’s control.
Bitcoin and its brethren present a mass Rorschach test. The community of believers is still pretty small—22 million people hold some amount of Bitcoin, according to blockchain.info—but it is growing fast, with the number of accounts doubling in the past year. Most are small investors passionate in their certainty that Bitcoin or something like it represents the future of finance. That group includes Sergeline Bernardeau, a songwriter and real estate broker in TriBeCa who in 2016 started learning about Bitcoin, or, as she put it, “going down the rabbit hole.”
“Some say it’s a bubble,” Bernardeau said, “and some say it’s the biggest transfer of wealth in history.”
Converting the masses
MARKET GAINS
26
NUMBER of active cryptocurrencies valued at more than $1 billion
11,954
NUMBER of “nodes,” aka computer networks, working on Bitcoin worldwide
108%
GROWTH in the number of nodes over the past year
$150B
BITCOIN'S MARKET VALUE Feb. 2, $50 billion more than Goldman Sachs’
Michael Leung certainly admires blockchain technology. But he’s really most interested in how rich it might make him after investing 10% of his net worth in Bitcoin during the summer.
“Bitcoin is all anyone can talk about at work,” said the 29-year-old accountant from Bay Ridge.
For now Leung is happy because he got in when a single Bitcoin was worth $3,000, roughly a third of its current value. Of course, he was a lot happier early last month, when it was trading around $20,000.
After a recent four-week plunge dropped Bitcoin to under $9,000, Leung was looking for a little boost, so he joined a blockchain meet-up at eBay’s office in Chelsea. Leung brought along his sister Megan, 26, who works in social-media marketing and has also caught the Bitcoin bug. “It’s like an addiction,” she said.
The meet-up’s emcee, Blockchain Driven senior adviser Art Malkov, opened by touting the potential of blockchain and asked how many in the audience of 200 were involved in Bitcoin a year ago. Ten hands went up. When ConsenSys employee Jack Spallone inquired, “How many of you would be particularly interested in this topic if there was no financial incentive?” hardly anyone stirred.
Wall Street trader Peter Borovykh later forecast that OPEC would one day demand oil be paid for in Bitcoin instead of dollars so it could “kill” the U.S. shale and gas industry. It’s a weighty expectation, considering that all the cryptocurrencies combined are worth $425 billion, about $400 billion less than Apple.
“The future is humongous,” Borovykh said. “Amazing.”
Leung liked what he heard, although he said he had hoped for more insight into what might happen to the price of Bitcoin. His mother, who came along to learn more about what her children are up to, wasn’t sure what to make of it. “You can never know enough about this,” she said. “It’s very challenging.”
Spending trouble
One of the biggest obstacles facing cryptocurencies is the difficulty of spending them, in large part because their underlying values are so volatile. But another is a product of the craze itself: So much traffic is clogging Bitcoin’s network that its transaction fees have hit $10 or more, and trades take an average of 25 hours to confirm, according to blockchain.info.
Alex Nicholas and James Burrell
Photo: Buck Ennis
LOCAL PROPHETS: Nicholas and Burrell preach the upside of New York Coin.
A solution, at least to the latter problem, just may have been found by pub owner Alex Nicholas and attorney James Burrell. The two are promoting New York Coin, a cryptocurrency that has been mostly dormant since it was created in 2014. On the third Wednesday of every month, they hold court at Keats, a Midtown bar Nicholas owns, to preach the benefits of the coin, which they say is faster and less expensive to use than Bitcoin. To prove their point, Burrell used New York Coin to buy a Bud Light, and the transaction was confirmed in about 30 seconds, much to the delight of the crowd of 20 who came to the meet-up. In the coming weeks, the coin’s advocates plan to rent a storefront, preferably in SoHo, so passers-by can learn more about its benefits. Heading into last week, only Nicholas’ bar and a gym he owns accepted New York Coin, but its backers announced on Twitter that a Manhattan restaurant and a Brooklyn recording studio would soon take it. The tweet was hashtagged #real.
Burrell said he would be thrilled if New York Coin traded for $1 each. The odds are poor, considering 132 billion are in circulation and fetch about $0.0001 apiece. But it isn’t totally out of the question. Many of the nearly 30 cryptocurrencies currently worth more than $1 billion were dead in the water until last year. “I feel like I found a ’63 Mustang in a barn,” Burrell said. “It works. It just needs a paint job.”
*All valuations of Ethereum and other cryptocurrencies are as of press time.
Correction: Chronicled launched as a blockchain company in 2014. This fact was misstated in an earlier version of this article, originally published online Feb. 5, 2018.
A version of this article appears in the February 5, 2018, print issue of Crain's New York Business. http://www.crainsnewyork.com/article/20180205/FEATURES/180209967/the-cryptocurrency-craze-is-a-textbook-investment-bubble
This is my 50th coin Im into. GO NYC!
Think I will sink some crypto cash into this soon .
Go PYCT!
PYCT LONG AND STRONG! enjoy the future news when it comes .. like the new gold backed money imo
GNCP HAS THE GOLD IMO!! GONNA ROCK!!! Idaho House Votes Overwhelmingly to Remove Taxation from Gold & Silver
February 14, 2018 8:38 am by Money Metals Exchange
The Idaho State House today overwhelming approved a bill which helps restore constitutional, sound money in the Gem State.
State representatives voted 60-9 to pass House Bill 449 sending the measure introduced by House Majority Leader Mike Moyle and Senate Assistant Majority Leader Steve Vick to the Senate for a hearing in the Local Government and Taxation Committee.
Backed by the Sound Money Defense League, Idaho Freedom Foundation, and Money Metals Exchange, HB 449 is a tax-neutral bill which excludes gains and/or losses on the sale of precious metals coins and bullion from an Idaho taxpayer’s taxable income.
“Gold and Silver are the only money mentioned in the U.S. Constitution, and they should not be subject to tax,” said Stefan Gleason, President of Money Metals Exchange, an Idaho-based national precious metals dealer. “This legislation will help Idaho citizens protect themselves from the inflation and Financial Turmoil caused by the Federal Reserve System.”
money 2020 bitcoin bubble
An increasing number of Idaho citizens are realizing that owning gold and silver as a form of savings can help protect against the ongoing devaluation of America’s currency. However, under current law, the taxpayer who sells their precious metals may end up with a capital “gain” in terms of Federal Reserve Notes – commonly referred to as “dollars.”
This capital ‘Gain’ is not necessarily a real gain. It’s often a nominal gain that simply results from the inflation created by the Federal Reserve and the attendant decline in the dollar’s purchasing power. Yet, this nominal gain is currently taxed at the federal level – and taxed again by Idaho. Under HB 449, all gains and losses upon the sale of physical precious metals which are reported on a taxpayer’s federal income tax return would be removed from the calculation of the taxpayer’s Idaho taxable income.
Utah and Arizona have already enacted similar measures to remove Income Taxes from the monetary metals. Legislators and sound money activists in other states such as Wyoming, Kansas, Tennessee, and Alabama are working to exempt precious metals from sales and use taxes – just like Idaho and over 35 other states have already done.
Jp Cortez, Assistant director of the Sound Money Defense League, said “Passage of HB 449 by the Idaho House is an important step, but there’s still more to do. Idaho voters are already reaching out to their state senators asking them to help make Idaho the next state to join the sound Money Revolution sweeping the country.”
For more information on the current state of Idaho Laws pertaining to sound money, click here.
The Sound Money Defense League is an Idaho-based http://www.valuewalk.com/2018/02/idaho-taxes-gold/
NEWLF!!! Lets get this shorted stock above $1 already imo!!!
Set sails to pennies!!! imo
HOLD on to your CMKX and CIM double check Transferonline. cause its cometh the BIG kerSPLAT! imo
CHRIST ON A STRECHER!!! CHRIST ON A STRECHER!!!! GURNEY EVEN!
Global Debt Crisis II Cometh
GoldCore
by GoldCore
Wed, 02/14/2018 -
Global Debt Crisis II Cometh
- Global debt 'area of weakness' and could 'induce financial panic' - King warns
- Global debt to GDP now 40 per cent higher than it was a decade ago - BIS warn
- Global non-financial corporate debt grew by 15% to 96% of GDP in the past six years
- US mortgage rates hit highest level since May 2014
- US student loans near $1.4 trillion, 40% expected to default in next 5 years
- UK consumer debt hit £200b, highest level in 30 years, 25% of households behind on repayments
This Is The Story Of Your Debt Enslavement – It’s No Accident
The man who predicted the collapse of GM, Fannie, and Freddie says the next big bankruptcy is going to catch everyone by surprise. Learn more here.
The ducks are beginning to line up for yet another global debt crisis. US mortgage rates are hinting at another crash, student debt crises loom in both the US and UK, consumer and corporate debt is at record levels and global debt to GDP ratio is higher than it was during the financial crisis.
When you look at the figures you realise there is an air of inevitability of what is around the corner. If the last week has taught us anything, it is that markets are unprepared for the fallout that is destined to come after a decade of easy monetary policies.
Global debt is more than three times the size of the global economy, the highest it has ever been. This is primarily made up of three groups: non financial corporates, governments and households. Each similarly indebted as one another. Debt is something that has sadly run the world for a very long time, often without problems. But when that debt becomes excessive it is unmanageable. The terms change and repayments can no longer be met.
This sends financial markets into a spiral. The house of cards is collapsing and suddenly it is revealed that life isn't so hunky-day after all. Rates are set to rise and as they do they will spark more financial shocks, as we have seen this week.
Mervyn King, former Governor of the Bank of England, gave warning about global debt levels earlier this week:
“The areas of weakness in the current system are really focused on the amount of debt that exists, not just in the U.S. and U.K. but across the world,” he said on Bloomberg Radio last Wednesday. “Debt in the private sector relative to GDP is higher now than it was in 2007, and of course public debt is even higher still.”
Consumer debt shows little sign of abating
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Total UK consumer debt hit £207 bn, in 2017 according to Standard & Poor's. Levels such as these have not been seen since the 1980s. Now a quarter of the country's poorest households are set to fall further into debt at a time when personal loans, credit cards etc are at pre-2008 levels.
The debt is set to get worse thanks to rising inflation, rising rates, wage stagnation, pension pot failings and just that simple problem of being stuck in a debt-laden hole.
The last financial crisis is primarily to blame for this mess that will no doubt contribute to the next crisis. Low or zero-rate loans, credit cards and finance packages were difficult to turn down by individuals who were struggling in the face of rising inflation and lack of wage growth. They were also repeatedly told by the government and media that all was going really well, they had little reason to believe their finances wouldn't turn around soon.
But they won't turnaround. Loan terms are set to get worse and few have enough set aside to help them manage increased payments with the savings ratio now below 7%, the lowest level since 2006.
Even if wages were to rise, this isn't necessarily a good thing for the overall economy. The panic last week seen across the equities markets was thanks to an increase in wages. Markets saw the data which causes everyone to realise there’s the prospect of inflation rising for which interest rates will be introduced to counter it. In turn, bond yields rise thus making equities less attractive while raising general borrowing costs. Not good for Joe Bloggs who just wanted a cheap car loan and a credit card to manage life with his family of four.
Mortgage rates, as you were
The subprime mortgage crisis was one of the leading triggers of the last global debt crisis. It followed the housing boom (and subsequent bust) in the US between 2007 and 2009.
Recent data suggests that we are heading towards another mortgage crisis in the US. Mortgage rates have now hit their highest level since May 2014. As Mortgage News Daily reports:
This marks the only time rates have risen this much without having been at long term lows in the past year. For example, late 2010, mid-2013, mid-2015, and late 2016 all saw sharper increases in rates overall, but each of those moves happened only 1-3 months after a long term rate low...So far this month, MBS have stunningly dropped over 200 bps, which easily translates into a .5% or more increase in rates. I've been shouting "lock early" for quite a while, and this is precisely why, This isn't a drill, or a momentary rate upturn. It's likely the end of a decade+ long bull bond market.
As rates are set to rise further, we will likely see this impact the housing market further. Rising rates make home buying and building less affordable. One indicator of where this will end up is by looking at the monthly supply of homes.
https://www.zerohedge.com/news/2018-02-14/global-debt-crisis-ii-cometh
Oh shake it cmkx lol shake it with the citi hustle lol. I remember on the roof top watching citi lol..crumble :)
Prince Alweed arrested lol starts with citi ends with citi lol. Send in the clowns go cmkx #BUSINESS NEWS
NOVEMBER 5, 2017 / 1:11 AM / UPDATED 14 HOURS AGO
Future Saudi king tightens grip on power with arrests including Prince Alwaleed
Stephen Kalin, Katie Paul
RIYADH (Reuters) - Saudi Arabia’s future king has tightened his grip on power through an anti-corruption purge by arresting royals, ministers and investors including billionaire Alwaleed bin Talal who is one of the kingdom’s most prominent businessmen.
Prince Alwaleed, a nephew of the king and owner of investment firm Kingdom Holding, invests in firms such as Citigroup and Twitter. He was among 11 princes, four ministers and tens of former ministers detained, three senior officials told Reuters on Sunday.
The purge against the kingdom’s political and business elite also targeted the head of the National Guard, Prince Miteb bin Abdullah, who was detained and replaced as minister of the powerful National Guard by Prince Khaled bin Ayyaf.
The allegations against Prince Alwaleed include money laundering, bribery and extorting officials, one official told Reuters, while Prince Miteb is accused of embezzlement, hiring ghost employees and awarding contracts to his own companies including a $10 billion deal for walkie talkies and bulletproof military gear worth billions of Saudi riyals.
The allegations could not be independently verified and members of the families of those detained could not be reached.
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News of the purge came soon after King Salman decreed late on Saturday the creation of an anti-corruption committee chaired by Crown Prince Mohammed bin Salman, his 32-year-old favorite son who has amassed power since rising from obscurity three years ago.
The new body was given broad powers to investigate cases, issue arrest warrants and travel restrictions, and seize assets.
“The homeland will not exist unless corruption is uprooted and the corrupt are held accountable,” the royal decree said.
Analysts said the arrests were another pre-emptive measure by the crown prince to remove powerful figures as he exerts control over the world’s leading oil exporter.
The roundup recalls the palace coup in June through which he ousted his elder cousin, Mohammed bin Nayef, as heir to the throne and interior minister.
MbS, as he is known, was expected to follow at least by removing Prince Miteb from leadership of the National Guard, a pivotal power base rooted in the kingdom’s tribes.
Over the past year, MbS has become the ultimate decision-maker for the kingdom’s military, foreign, economic and social policies, causing resentment among parts of the Al Saud dynasty frustrated by his meteoric rise.
Saudi Arabia’s stock index was dragged down briefly but recovered to close higher as some investors bet the crackdown could bolster reforms in the long run.
The royal decree said the arrests were in response to “exploitation by some of the weak souls who have put their own interests above the public interest, in order to, illicitly, accrue money.”
REFORM AGENDA
The line between public funds and royal money is not always clear in Saudi Arabia, an absolute monarchy ruled by an Islamic system in which most law is not systematically codified and no elected parliament exists.
WikiLeaks cables have detailed the huge monthly stipends that every Saudi royal receives as well as various money-making schemes some have used to finance lavish lifestyles.
Analysts said the purge aimed to go beyond corruption and aimed to remove potential opposition to Prince Mohammed’s ambitious reform agenda, which is widely popular with Saudi Arabia’s burgeoning youth population but faces resistance from some of the old guard more comfortable with the kingdom’s traditions of incremental change and rule by consensus.
In September, the king announced that a ban on women driving would be lifted, while Prince Mohammed is trying to break decades of conservative tradition by promoting public entertainment and visits by foreign tourists.
The crown prince has also slashed state spending in some areas and plans a big sale of state assets, including floating part of state oil giant Saudi Aramco [IPO-ARMO.SE] on international markets.
FILE PHOTO - Saudi Crown Prince Mohammed bin Salman attends the Future Investment Initiative conference in Riyadh, Saudi Arabia October 24, 2017. REUTERS/Hamad I Mohammed
Prince Mohammed has also led Saudi Arabia into a two-year-old war in Yemen, where the government says it is fighting Iran-aligned militants, and a row with neighboring Qatar, which it accuses of backing terrorists, a charge Doha denies. Detractors of the crown prince say both moves are dangerous adventurism.
The most recent crackdown breaks with the tradition of consensus within the ruling family, wrote James Dorsey, a senior fellow at Singapore’s S. Rajaratnam School of International Studies.
“Prince Mohammed, rather than forging alliances, is extending his iron grip to the ruling family, the military, and the National Guard to counter what appears to be more widespread opposition within the family as well as the military to his reforms and the Yemen war,” he said.
Scholar Joseph Kechichian said the interests of the Al Saud dynasty, however, would remain protected.
“Both King Salman and heir apparent Mohammed bin Salman are fully committed to them. What they wish to instill, and seem determined to execute, is to modernize the ruling establishment, not just for the 2030 horizon but beyond it too,” he said.
Many ordinary Saudis praised the crackdown as long-awaited.
Slideshow (5 Images)
OPULENT HOTEL
A Saudi official said former Riyadh Governor Prince Turki bin Abdullah was detained on accusations of corruption in the Riyadh Metro project and taking advantage of his influence to award contracts to his own companies.
Former Finance Minister Ibrahim al-Assaf, a board member of national oil giant Saudi Aramco, was also detained, accused of embezzlement related to the expansion of Mecca’s Grand Mosque and taking advantage of his position and inside information to purchase lands, the official added.
Other detainees include ousted Economy Minister Adel Fakieh, who once played a major role in drafting MbS’ reforms, and Khalid al-Tuwaijiri, who headed the Royal Court under the late King Abdullah.
People on Twitter applauded the arrests of certain ministers, with some comparing them to “the night of the long knives”, a violent purge of political leaders in Nazi Germany in 1934.
Bakr bin Laden, chairman of the big Saudi Binladin construction group, and Alwaleed al-Ibrahim, owner of the MBC television network, were also detained.
At least some of the detainees were held at the opulent Ritz-Carlton hotel in the diplomatic quarter of Riyadh, said sources in contact with the government and guests whose plans had been disrupted.
RELATED COVERAGE
Saudi princes accused of bribery, embezzlement, money laundering: official
Factbox: Prince Alwaleed's international and domestic investments
Saudi's Al-Tayyar says work continues despite board member reportedly detained
The hotel’s exterior gate was shuttered on Sunday morning and guards turned away a Reuters reporter, saying it had been closed for security reasons, although private cars and ambulances were seen entering through a rear entrance.
The hotel and an adjacent facility were the site of an international conference promoting Saudi Arabia as an investment destination just 10 days ago attended by at least one of those now being held for questioning.
The detentions follow a crackdown in September on political opponents of Saudi Arabia’s rulers that saw some 30 clerics, intellectuals and activists detained.
Prince Alwaleed, a flamboyant character, has sometimes used his prominence as an investor to aim barbs at the kingdom’s rulers.
In December 2015, he called then-U.S. presidential candidate Donald Trump a “disgrace to all America” and demanded on Twitter that he withdraw from the election.
Trump responded by tweeting: “Dopey Prince @Alwaleed_Talal wants to control our U.S. politicians with daddy’s money. Can’t do it when I get elected.”
His father, Prince Talal, is considered one of the most vocal supporters of reform in the Al Saud family, having pressed for a constitutional monarchy decades ago.
Additional reporting by Reem Shamseddine in Khobar and Rania El Gamal and Tom Arnold and Sylvia Westall in Dubai; Editing by Samia Nakhoul and Nick Macfie
Our Standards:The Thomson Reuters Trust Principles.
#WORLD NEWS
Purge of Saudi princes, businessmen widens, travel curbs imposed
#COMMODITIES
Saudi purge takes kingdom into unpredictable new era: Kemp
#WORLD NEWS
Trump greets Japanese emperor with a handshake and nod - but no bow
#SPECIAL REPORTS
Special report: In Modi's India, cow vigilantes deny Muslim farmers their livelihood
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Real news http://www.reuters.com/article/us-saudi-arrests/future-saudi-king-tightens-grip-on-power-with-arrests-including-prince-alwaleed-idUSKBN1D506P
CMKX is waiting for Goldbacked money?
China's New Gold-Backed Oil Futures Contract Cuts Out U.S. Dollar
Sep. 6, 2017
Summary
At the turn of the year, I wrote an article related to a possible Trump induced rally in gold.
Since then, we've had two additional bullish factors: the North Korea crisis and Hurricane Harvey.
Here's a new bullish factor flying under the radar: China has created an oil benchmark based on gold, effectively cutting out the U.S. dollar.
Amid an already very bullish environment for the appreciation of gold, a recent development could cause massive disruption in to today's global oil market: the imminent introduction by the Chinese of a yuan based - and gold backed - crude oil futures contract. But before discussing that in some depth, let's first summarize the already very bullish backdrop for gold.
After considerable gold liquidation following last year's presidential election, my last Seeking Alpha article of 2016 was a bullish call on gold and "The Possibility Of A Trump-Induced Bull Run." I expanded on that theme with Part II and Part III as the Trump administration began taking action. In addition, I noted the bullish impact on gold of a falling U.S. dollar in this Seeking Alpha article.
Recent events - like North Korea's nuclear detonations and missile tests, Hurricane Harvey, and the up-coming need for Congress to raise the U.S. debt ceiling again - are all singularly bullish for gold. In aggregate, these events are compelling reasons why investors should seriously consider increasing their gold positions.
Note I wrote an article back in 2012 on the possibility that global warming, and the storms it helps intensify, will support higher gold prices via increased and substantial U.S. deficit spending to fund storm recovery efforts (see "Global Warming Will Push Gold Higher"). It's taken awhile to see that thesis come to fruition, but note that CNN reported that Texas Governor Greg Abbot thinks Texas will need "far in excess" of $125 billion in federal relief dollars. Houston Rep. Sheila Jackson Lee called for a record-breaking $150 billion aid package.
Federal hurricane assistance has increased dramatically since Hurricane Katrina, with the federal government shelling out more than $200 billion. About half went to the Katrina recovery effort and a quarter of which went to Hurricane Sandy relief efforts.
https://seekingalpha.com/article/4104448-chinas-new-gold-backed-oil-futures-contract-cuts-u-s-dollar
OH IHUB booted WhiteNOC. so wrong. CMKX IHUB is boring now.
boo!
BTGI-Largo Fl came out ok.. as the eye of the Hurricane collapsed last night before it hit that area. All they got was a Tropical storm with winds. So dont panic imo!!!! place your bets!!!!! Everyone I talked to in this area area said they are ok .
Hurricane Irma weakened to a tropical storm Monday morning as it was grinding across northern Florida, drenching the Tampa Bay region and lashing buildings with 85 mph winds after hammering the southern half of the state the previous day.
https://www.cbsnews.com/news/tropical-storm-irma-downgraded-hurricane-florida-live-update-09-11-2017/
and remember its Largo FL not Key Largo FL lol
snifferpup
Mod Squad
*****
Le Pup
Very Interesting yesterday at 8:58am gangusgreen, sandye14, and 10 more like this
Post by snifferpup on yesterday at 8:58am
She trashed CMKX and it's shareholders before...
And she trashed Al also...
I have no time for her at all~
http://cmkxunofficial.proboards.com/thread/12432/interesting-fr-trillionaire1
I am done with the Hudes as well. prob another Janel Yellen. imo
Elite Banker Jumps from London Stock Exchange Building with a Chilling Warning Senior executive gave disturbing message before committing suicide By: Jay Greenberg |@NeonNettle on 15th August 2017
an elite city banker has killed himself at the london stock exchange © press An Elite city banker has killed himself at the London Stock Exchange A high-level senior investment banker has leaped to his death from a 7th-floor balcony in the London Stock Exchange building. The man jumped from a glass walkway of the British capital's busy financial hub and landed in the front lobby at around 9.45am UK time. He was pronounced dead at 10.10am shortly after police arrived, although it's believed the fall would've killed him instantly.
Although he has yet to be named by police, workers described him a "one of the bigwigs". According to one of the witnesses, he "ran along the walkway shouting and put one hand on the glass wall and jumped over it with both feet." "He didn't even hesitate. He was shouting, 'the end is coming! Get out while you still can!'" "It was awful." Another worker based at the London Stock Exchange said: "It's horrifying, that's all I can say." A fellow member of staff said: "I came in this morning and there was a screen up in the reception lobby area and ambulances and police. "There was an internal memo saying there had been an incident. "The building has walkways on each floor and near the lifts, there is a gap and you can see all the way up and down." You've Never Seen the 2017 Honda Civic Coupe Like This Kelley Blue Book Sponsored by Revcontent Find Out More > 73,400 Telegraph reports: Workers said that the seventh floor is full of conference rooms and no firm was based there. In a statement, the LSE said: "We can confirm an incident this morning where a London Stock Exchange Group colleague fell from an upper-floor balcony and died. "The emergency services were called immediately and are dealing with the incident.
We will continue to offer them every support and co-operation possible. "Our thoughts and condolences are with the family and friends of our dear colleague. We would ask that the privacy of the family of the deceased be respected at this time." A London Ambulance Service spokesman said: "We were called at 9.56am to reports of a person fallen from a height at Paternoster Square, EC4. "We sent a number of resources to the scene, including an incident response officer, an advanced paramedic, an ambulance crew and a motorbike responder. Sadly the patient was dead at the scene." A City of London Police spokesman said: "We were called to the London Stock Exchange in Paternoster Square on Tuesday, 15 August at 9.58am to a report of a man who had fallen from an upper floor in the building to the ground. "London Ambulance Service attended and the man was pronounced dead at 10.10am. "The City of London Police is currently investigating the circumstances around the death and the incident is being treated as non-suspicious. We are now working to inform the man's next of kin."
Read more at: http://www.neonnettle.com/news/2553-elite-banker-jumps-from-london-stock-exchange-building-with-a-chilling-warning
© Neon Nettle
Karen Hudes yesterday cmkx.WOW!(wHAT IS GOING ON??) . The World Bank
Tokyo Office
Telephone: (03) 3597 6650
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
https://ia601507.us.archive.org/23/items/Twitter8.16.17/Twitter8.16.17.pdf
10F, Fukoku Seimei
Building
Fax: (03) 3597 6695
INTERNATIONAL DEVELOPMENT ASSOCIATION
2-2-2, Uchisaiwai
-Cho
Cable: IN
TBAFRAD TOKYO
Chiyoda
-ku, Tokyo 100, Japan
Wednesday, August 16, 2017
To the Coalition for the Rule of Law that is now in charge:
In July I used the analogy of Moby Dick, and explained that things were taking so long to turn
around just like it was hard to catch a whale. I will put that Tweet at the
end.
Yesterday I placed a harpoon in the Network of Global
Corporate Control, to be more exact, in the CIA
. The CIA
was trying to steal the assets in the Glob
al Debt Facility
through a lawsuit again
st CMKX diamonds. The CIA tried
to get me to vote the US shares on the Board of Governors,
and
allow the Global Debt Facility to fund settlement of
this CIA lawsuit
, by sending me shares in CMKX
diamonds.
Then yesterday the CIA tweeted that the CIA
was going to rise like a Phoenix, via the theft of the Global
Debt Facility in
the CMKX lawsuit.
I tweeted back that the
CIA was getting wound down in the Global Debt Facility,
just like the rest of the bankrup
t Network of Global
Corporate Control, and that I was holding the shares of
CMKX diamonds in escrow for the
beneficiaries of the
Global Debt Facility
. For people whose
eyes glaze over at all this legal mumbo
-jumbo, what you need to know is that everything
is out
in the open, and we are all working together to sort things out. By sorting things out, we mean
the corrupt bullies are not getting their way anymore. But sometimes whales d
rag the whalers
along for some time until the whales get tired. There is
no doubt that the CIA is harpooned.
The CIA and the rest of the Network of Global Corporate Control are not going to shake loose if
the harpoon is big enough. Because enough people are paying attention, I think this harpoon is
big enough
To the CIA: See what you get when you try bribing mehttps://t.co/EszQIwpzaf pic.twitter.com/1lm29nEn7u
— Karen Hudes (@KarenHudes) August 16, 2017
NEWLF gives us some news! anything.
CMKX I heard is waiting for cases to end. as well as new money system to be put in place? well what do you think about Karen Hudes she work for the central bankers or she good?
what say some of you?
Karen Hudes? @KarenHudes 3h3 hours ago
The private central banks, including US Federal Reserve, are all bankrupt and we are winding them down
The private central banks, including US Federal Reserve, are all bankrupt and we are winding them down. https://t.co/tWTohyF7r1 pic.twitter.com/4RmyIibrL7
— Karen Hudes (@KarenHudes) August 14, 2017