All posts by Thomas Prendergast

FIRST IN 100 DECENTRALIZED SOCIAL MARKET MEDIA – GIANT BLOCKCHAIN CRYPTO PROJECT

 

FIRST IN 100% DECENTRALIZED SOCIAL MARKET MEDIA – GIANT BLOCKCHAIN CRYPTO PROJECT 

HVC is poised to triumph in the crypto economy.

Cryptocurrencies have many use cases. Some act as a store of value, others power blockchain to make it possible to create trustless digital contracts and permissionless decentralized applications. Some cryptocurrencies are pegged to fiat currency allowing for stable transfers of value, and some underpin protocols that offer decentralized data storage and video streaming. 

Each of these use cases requires a particular set of blockchain attributes and economic incentives. Many say that there is no single cryptocurrency project that can do it all; however, there is one that comes very close in a field that has been, for the most part, put in the too-hard basket by the majority. 

Who Dares Wins 

Markethive is a monolithic blockchain project currently operating as a social network, an entire inbound marketing platform with email, blogging, and digital media capabilities that broadcast to the vast internet. It’s a complete Market Network and the first of its kind. 

Markethive is predominantly a free system where users can access a platform that can cost more than $2,500 offered by other marketing platforms. There are, of course, upgrades that open up more tools and monetization opportunities, the first being the Entrepreneur One Loyalty Program, and coming soon is the Premium Upgrade

The many domains Markethive has and its autonomous cloud systems that ensure its sovereignty and longevity make it untouchable and immune from the tech giants’ rule and biased agenda. But can still remotely infiltrate the social media platforms and reach the multitudes either locked in or looking for an alternative meritocratic medium.

In other words, wherever you go, Markethive is there, anywhere and everywhere, delivering its message via its community of entrepreneurs to a far-reaching audience. This next-generation social market media is poised in the wings, and when the time is right, it will emerge as a shining light to lift people up and bring financial sovereignty and hope in this gloomy and uncertain world.  

The video platform, conference rooms, the unique four specific news feeds currently in development, and many other projects and incentives add to the credibility and need for an ecosystem in the social media and digital marketing space. 

In 2018, Markethive released its coin, with the ticker symbol of MHV that enabled the distribution of the coin to the members within the Markethive system by way of infinity airdrops and subsequently a micropayment faucet. The coin is currently in the process of being labeled with a new name, HiveCoin, with the ticker symbol HVC. 

Now in the final stages of BETA, Markethive will officially launch with the release of its first wallet developed from scratch to service the community’s needs. This is Markethive’s internal web wallet, with the end goal of a wallet app accessible from your smartphone (external wallet) that includes built-in messaging, news feeds, e-commerce, conference rooms, etc., with the highest security measures. 

Meanwhile, the growing user base is accumulating their native coins, Hivecoin (HVC), in anticipation of the release when they transact using HVC within the Markethive system and externally.

What Sets The Markethive Coin (HVC) Apart?

The Markethive platform enables the users to earn HiveCoin cryptocurrency with everything they do and are paid for their loyalty. The Vault is an innovative concept that allows Markethive members to stake their coins, similar to a bank account. The more coins held in your vault, the higher the micropayments received, and then there’s the monthly interest paid to you based on the number of coins in your coin clip.

The company issues these micropayments, incentives, and rewards, not just the users, which is commonplace and the only form of payment in other crypto-based platforms. However, Markethive has a tipping protocol the people can utilize and substitutes the like button. 

It isn’t only a social media network or inbound marketing platform; it lends itself to the cottage industry concept allowing members to monetize the various initiatives Markethive is developing, starting the Banner Impressions Exchange. It’s also where entrepreneurs can facilitate and promote their personal businesses to a built-in audience as well as a springboard to the far regions of the internet. 

In Markethive’s all-encompassing ecosystem, the objective of the Markethive coin (HVC) is to be utilized as a form of payment rather than just selling it (pump and dump scenario). This gives a purpose and actual use case for HVC, equalizing the velocity and increasing coin value. 

Bitcoin has established itself as a store of value that affects the value of most other altcoins, albeit positively or negatively at any given time. However, if a coin or project’s use case and utility are credible, it can result in a parabolic shift, increasing in price, without riding on Bitcoin’s coattails. 

 

The Markethive Blockchain 

Markethive is currently situated on the Ethereum Blockchain while in BETA. However, Markethive aims to utilize a 3rd generation Blockchain developed by Cardano and Elrond. These Blockchain protocols have the advanced capabilities to produce the distributed database system Markethive requires. 

This ensures that all data that the extensive user base inherently creates in a social media environment is decentralized and safely integrated and stored on the blockchain, including all forms of content, videos, images, etc.

It is considered a  mammoth task for a blockchain and not conducive for an established social media platform like Facebook with its trillions upon trillions of data already in its system. Markethive conceived and initiated this blockchain protocol, making it easier to integrate. We just had to wait for the right technology to surface.  

Thanks to technology evolution, the Markethive social market network’s ability to build a massive database management blockchain can only be done on a 3rd generation blockchain platform like Cardano or Elrond. The Markethive blockchain will be forked off the 3rd generation blockchain, with HVC being a native token, a fungible multi-asset token. 

Native tokens represent value and act as an accounting unit, which can be used for payments and transactions and sent to an exchange address. Native means that these tokens are supported by the main chain’s accounting ledger without the need for additional smart contracts, as the ledger features built-in support to track ownership and transfer of more than one type of asset.

Ethereum blockchain issues tokens through a custom coded smart contract, which issues a non-native token. This token won't have all the advantages of Ethereum, and you have to pay for smart contract execution every time you move your token. This is why people complain about Ethereum fees being so high. It's not very efficient, leaving the door open for human error when coding smart contracts.

The low cost in transactional fees and the increased throughput into the thousands make the Cardano and Elrond blockchains a favorite in future generation blockchains. A sustainable, scalable financial operating system is becoming a reality. 

 

HiveCoin And ILP Smart Contracts – The Markethive Ecosystem

The Markethive  ILP smart contracts that the entrepreneurs have recognized as valuable and acquired will work seamlessly in the background on the Markethive blockchain forked off a 3rd generation blockchain. At the same time, the HiveCoin (HVC) will be used as a medium of exchange and will continually be circulating, earned, and accumulated by users within the Markethive economy.

It allows us to be completely decentralized financially with complete autonomy and protection of our intellectual property, ascertaining a viable and comprehensive ecosystem. This bodes exceptionally well for the Markethive ecosystem and benefits all participating in it. 

Essentially the Markethive ecosystem will have its own financial operating system within the new global financial operating system or future of internet money envisioned by the architects of the emerging technology, strides ahead of the initial technology of Bitcoin and Ethereum.  

Markethive – Staunch And Benevolent Vision

Markethive’s vision is a fully decentralized social network inbound marketing platform integrated and operated on a massively distributed database system, the internal giant blockchain, controlled by a smaller external blockchain Markethive’s Dapp wallet will utilize. 

This is a very advanced technology Markethive is integrating at which no other platform is doing or will attempt to do. It is a vast undertaking and needs to be done right so security is not compromised, on all levels, hence the methodical and time-consuming approach. Markethive is incomparable to any other media platform and, although touted it that couldn’t be done, is 90% done. 

It’s about looking after the community, the products and projects, the use, and the utility. Getting it right, being clever and evolutionary will pay huge dividends in the mid to long term for everyone in the ecosystem. Markethive is always focused on where we are going and why we are going there in the mission, giving economic sovereignty and identity to all, especially those that don’t have it. 

I know it’s hard to get your head around. Most people don’t comprehend what we have in our midst with Markethive but rest assured, this gigantic all-in-one platform current flying under the radar will be a life-changing positive force of how we work, earn, and socialize online. 

Come to our Sunday meetings at 10 am MST as we approach massive major upgrades and be the first to know about it. See and hear explanations, ask questions, and witness the ever-evolving technology and concepts of Markethive as we stay one step ahead of tyrannical technocrats.  The link to the meeting room is located in the Markethive Calendar. See ya there.

 

 

 

Thomas Prendergast

Merry Christmas 2021

Merry Christmas 2021

 

As you may have suspected, the wallet release date is about to be announced. We are building a comprehensive wallet solution and upon announcing the launch date, building of our own exchange will begin…and seeking other exchanges to carry our coin will begin.

 

Building our community bigger will be very important. Markethive will offer incentives to inspire a bigger community.
We will need 3 active communities:

  1. Bitcointalk  https://bitcointalk.org/index.php?topic=3309067.0
  2. Reddit: https://www.reddit.com/r/markethive/
  3. Telegram: https://t.me/markethive_support
  4. Markethive: https://t.me/hivecoin_community

 

Make sure when you sign up into these accounts you use your real name so we can connect your account to Markethive for Airdrops, incentives, etc.

As of this mailing and blog post the following Christmas incentives have been launched and will run until epiphany.


Entrepreneur One (Christmas Special):  
One Half ILP Yes that is a 50% of an ILP to say thanks for sticking with us!

https://markethive.com/index_members.php?entrepreneur-popup


All active, new, restored accounts will receive a .5 (1/2) ILP upon finishing 12 consecutive payments on January 2023. This incredible offer is made to commemorate our Entrepreneur One program.

As of the release of the Markethive wallet, we will be launching the Premium Upgrade member service and closing the door to new or restored old Entrepreneur One accounts.


We expect by end of 2022 we will have an E1 exchange available for owners of Entrepreneur One accounts to offer their accounts for sale and for all Markethive members to seek and bid on purchasing an Entrepreneur One account for their own. But you will not find Markethive making them available for free again.


The Boost Special
https://markethive.com/index_members.php?boost-popup

 

FYI: Boost idea originated from Facebook. Facebook Boost costs (average) $1 to show your Newsfeed post on 12 members Newsfeeds. For $200 your post would appear on 2.400 members’ Newsfeed.

Markethive Boost puts your newsfeed post on all of our members newsfeeds. We have over 130,000 registered members and over 90,000 active members.

At $1 per 12 members newsfeeds to publish to our active (90,000) members would cost you $7,500 and over $10,000 to put your post on all our members’ newsfeeds.

At Markethive we take your wellbeing into our highest considerations and have made boosting to the entire member’s news feeds for $200 for free members and $100 for Entrepreneur One subscribers affordable for the entry level and professional home based entrepreneur.

At Christmas time the spirit of giving comes around. And we abide. We help our members by giving you huge savings, The Boost is one of them.

For the duration of the Christmas season, free members can purchase as many boosts they want for just $20 per boost.

Subscribers (Entrepreneur One) can purchase as many boosts they want for just $10 per boost.


We have also launched another special in anticipation of launching the wallet.
That is our ILPs for Markethive coin. The special is now live and will allow you to convert your coins to ILPs.

Buy additional ILPs with your Markethive coin
https://markethive.com/index_members.php?ilppurchase-popup

This offer will run for about one month after the wallet is launched for the free members. Do you understand what the ILP represents? Think of our coin as storage of gold in your vault. Think of the ILP as a gold mine producing more gold for the owner of the mine (the ILP). I would think owning the Gold mine would be a better option.

All About the ILP Explained
https://markethive.com/group/marketingdept/blog/markethives-ilp-what-is-it


Entrepreneur One special Summary (so you do not miss it)

All active, new, restored Entrepreneur One accounts that stay consecutively current from Jan 2022 to Jan 2023 will receive as a bonus on top of their normal yearly 1/10th ILP a WHOOPING ½ half (50%) ILP. After the wallet is launched, there will be no more specials like this for the E1.

This is a huge incentive to get, upgrade, restore and continue supporting Markethive with your E1 membership.


Remember to log in often, attend our Sunday meetings and help us build our communities in Reddit, Bitcointalk and Telegram.

 

Sincerely and a Very Merry Christmas to all,

Thomas Prendergast
CEO
Markethive

Thomas Prendergast

Beniamin Mincu Of Elrond – Bio And Vision For The Future Of Money

Beniamin Mincu Of Elrond – Bio And Vision For The Future Of Money

A Visionary That Will Define The Next Wave Of The Internet Economy

Who Is Beniamin Mincu?

Beniamin Mincu is an entrepreneur, investor, and Blockchain pioneer born in Romania with a vision to reshape economies, opening an era of unparalleled opportunity on a global scale. Beniamin (also pronounced Benjamin) is a humanitarian with his heart in the right place and the Co-founder and CEO of the Elrond Network

Beniamin undertakes to accelerate the onset of a high-bandwidth, open, permissionless, globally accessible financial system. The dedication of Elrond’s diverse team of engineers and researchers that have a wide range of technical experience and significant Blockchain expertise is bringing this vision to life. 

 

Beniamin Mincu’s Background

Beniamin is from Sibiu County in Romania, where he attended the German University of Sibiu, Romania. He studied at the Faculty of Economic Sciences and graduated with a Bachelor's degree in Economics and Management in 2011. He was certified by the University of Toronto in the Learn to Program: The Fundamentals in 2013.

His accomplishments include courses in Business ethics, Finance, Logistics, Macroeconomics, Management, Marketing, Microeconomics, Production Management, Project Management, Quality Management, Statistics, Strategic Management. 

Beniamin is fluent in three languages – English, German, and Romanian. He is celebrated for his critical thinking skills, creativity, leadership, pleasant disposition, and ability to deliver on his commitments. His passion for economic empowerment, education, poverty alleviation, science, and technology drives him to continue his project to reshape the economy gradually. 

 
Beniamin’s First Encounter And Inspiration With Crypto 

What inspired Beniamin Mincu to become involved in the cryptocurrency space?  In 2012 he initially stumbled across Bitcoin. By 2013, he found the whole concept of Cryptocurrency extremely intriguing as he saw the economic aspect. 

He started researching technologies he thought were capable of changing the dynamics of the economy and entire society. Once he understood the economics of Bitcoin, he could clearly see that it would reshape the economy.

 

Career And Noble Endeavors  

In 2014, Beniamin joined the NEM.io core team to help solve the issues he saw in Bitcoin. Since then, he recognized ongoing problems with Bitcoin, specifically scalability, and set out to remedy these obstacles that would stifle any meaningful mainstream adoption. 

Beniamin studied many different technologies that he thought would have a high impact on the future of humanity. He has been involved in several aspects of the Blockchain space building, supporting and investing in around 30 different startups, including Icon, Matrix, and Zilliqa.

In 2016, Beniamin founded MetaChain Capital along with his brother Lucian Mincu and took on the role of CEO. MetaChain Capital was an investment firm that supported several Blockchain projects, including Binance, BAT, Tezos, and Polkadot, when they were in the startup phase. They became very successful and are placed in the top 100 projects on coinmarketcap.

In 2017, his sole focus was Elrond, building a hard-core team who he says can “literally build rockets.” Elrond, an ambitious project that aims to solve some of the most pressing challenges in the Blockchain and crypto space. 

Notably, the name of the company, Elrond, was inspired by the character in the book and movie, Lord Of The Rings, who is portrayed to be immortal, superpowerful, with a purpose to do good in the world, and was considered a great aspiration by the founders of Elrond to aim for and bring light into the Blockchain and crypto industry.


Image Source: Twitter 

 

Elrond – The Next Wave Of The Internet

Beniamin’s diverse background in state-of-the-art technology, applied philosophy, engineering, and Blockchain has culminated in creating a company that could very well define the next wave of the internet.

The elegant and sophisticated technology developed by the Elrond team is targeted at developers, the broader public, and enterprises. Developers can create decentralized applications and run smart contracts on the Elrond blockchain network, and the wider public can use Elrond as a user-friendly gateway to the digital economy. 

Also, businesses seeking an enterprise solution that can lower transactional costs with benefits such as speed, security, and scalability will find Elrond Blockchain particularly useful. Such as emerging Web 3 companies building ecosystems with their cryptocurrency in the social media and digital marketing sphere that need an internet-scale blockchain to accommodate its massive user-base and ecommerce.  


Image source: https://elrond.com/

The whole basis of the Elrond Network is to build a global, transparent, non-inflationary financial system giving anyone, anywhere, easy access to this new economic system. In July 2020, we saw the launch of Elrond’s Mainnet, with Beniamin Mincu announcing;

“Years from now, we will look back at this moment, as the instrumental transition from a promising but experimental technology, to one of the most important technologies of the decades that followed.”

More recently, we had the release of Elrond’s Maiar DEX. “This represents a massive step toward pushing DeFi adoption beyond the current boundaries of the crypto space, into the mainstream,” said Beniamin. 

With Elrond’s Adaptive Sharding, a method of parallelizing data and transactions processing, Elrond’s performance will scale up with the number of computers joining the network, reaching more than 100,000 transactions per second while growing increasingly decentralized.

Paraphrasing Beniamin’s comments in the video posted below, these performance measures and protocols are not promises for the future, like so many other projects. They are already processing 15,000 transactions per second, with 6 seconds block time at a transaction cost of $0.001. They can scale beyond 100,000 and have achieved 260,000 TPS in the testnet phase. 

He explains that after ten years, the approximate average TPS of the Bitcoin blockchain is still about 5, while Ethereum can handle about 15. We need to move beyond this to change the course of humanity and the future of money. 

Elrond, as described by Coingecko

“Elrond aims to build a high-throughput blockchain that aspires to build the next internet-scale blockchain. Recognizing that most scalability efforts by other projects are not sufficient in that the efforts are merely “kicking the can down the road,” Elrond set out to create a blockchain that is capable of 1000x throughput than most existing blockchains. This improvement of transaction throughput allows Elrond to handle even the most aggressive wave of user adoption.”

 

Beniamin Mincu, CEO of Elrond on the Future of Money and Reinventing the Internet

Courtesy of Blockworks

 

Romanian Roots And Ethos 

According to the Romanian Business Review, diversity, innovation, and enthusiasm are the most common ingredients of the Romanian entrepreneur and start-ups. Many businesses impressed the BR team, mainly because of their founders’ entrepreneurial behavior, vision, and strategy.

“Romanians are smart,” a caption made famous by an advertising agency and was a gift celebrating Romania’s National Day in 2011. Their contribution was awarded a Cannes Lion Trophy for the campaign in 2016.

The Romanians have a lot to be proud of and are renowned for their sports athletes, creativity, and hospitality. Adding to that, their presence in the technology space with a philosophical approach to go beyond and make a real impact on humanity. 

Markethive has a robust presence in Romania and shares the same ethos. Markethive’s team of engineers is situated there, working tirelessly to bring Markethive’s vision to fruition. It is a vision that brings freedom, liberty, and financial sovereignty to all and transcends the evil that is overwhelming social media with its technocracy.     

Beniamin Mincu and his team at Elrond, with their innovative, evolving technology, will make it possible for the Markethive community to thrive in this stagnant, if not devolving world. God speed to Beniamin Mincu, Elrond, and Markethive. 

 

 

References: 
elrond.com
LinkedIn
Everipedia
Brandminds
Messari

 

Also published @ Before It’s News https://beforeitsnews.com/science-and-technology/2021/12/beniamin-mincu-of-elrond-bio-and-vision-for-the-future-of-money-3003471.html

 

Thomas Prendergast

New Policies new procedures

Coming Soon
KYC and LOGIN Policy Updates

These notifications are neccesary as we prepare for the wallet release.

Markethive policy requires members to login frequently. If free accounts (KYC) do not login after three months (Day 91 a warning letter will be sent and day 98 the account will be terminated) the accounts are deleted.

Paid Membership accounts do not apply and as long as your subscriptions are active your account is secured.
Free members with ILP holdings will be considered abandoned after 5 years of inactivity and the account terminated.

All accounts that do get terminated include all assets within that account. Blog posts, Video Uploads, ILPs, and Coin and Credit holdings*.
(Notorized paper work of ILP contracts will be required to restablish abandoned accounts).

Free accounts will require processing KYC or the accounts will be terminated after 30 days*.
KYC will be required to receive and access the Hivecoin and is including matching bonuses to the sponsor of the membership.
(When KYC is activated in preperation for the wallet)

KYC is coming. The wallets will be distributed to the Entrepreneur One subscription first (with no limits) then the Premium Upgrade subscription (with light limits). Upgraded subscriptions will not require KYC at this time.

Free Membership will require KYC to activate the free services found in Markethive.

 

When KYC is released:

AIRDROP

New Member Airdrop “To access Airdrop must do KYC”

Matching Bonus “To access matching bonus must do KYC”

HIVE RANK “To activate Hive Ranking must do KYC”

VAULT
Earn interest on holdings (Free Members can earn interest on credits held in the Vault) “Must be KYC certified”

FAUCET

Give Tips is limited to.0001 per member

Tips “To access Tips must do KYC”

ADVERTISE

Purchase Impressions (free member can purchase impressions) “Must have KYC completed”

Publish Banner Ad (free members can publish Banner Ads) “Must have KYC completed”

HOME:

Tutorials (full Tutorial Available)

Referral Program (full referral tools available)

Membership Upgrade (upgrades available and replace KYC requirement)

Friends/Associates (accept Friend Requests) “Cannot request friends without KYC”

Messages (accept and respond to incoming messages) “Cannot initiate messages without KYC”

PROFILE PAGE

Recent Activity (Can Comment on other’s posts) “Cannot post without KYC”

Blog Posts (May Publish One Blog) “Cannot publish additional blogs without KYC”

My Groups “Cannot join or produce groups without KYC”

My Videos “Cannot Upload videos without KYC”

My Friends (Can accept Friend requests) “Cannot request new friends without KYC”

Statistics (Can access and view full statistical reports)

PROFILE PAGE SETTINGS

Bio (Full editing capability)

Profile Picture (picture upload activated)

Profile Page URL (activated)

Profile Page Settings (activated)

Meta Data (accessible)

Delete Account (accessible)

SETTINGS

Hive Rank (active)

Notifications (active)

Advertise (not active)

BLOGS

Blog Post “Cannot Post without KYC”

Blog Comments (active)

WordPress Plugin “Cannot Access without KYC”

MARKETING CAMPAIGNS

Manage Campaigns “Must be a paid member”

Advertising Vendors “Must be a paid member”

Advertising Co-op “Must be a Paid Member”

Tiny Url “Must do KYC to access”

Website Rotator “Must be a Paid Member”

Backlink Tracking “Must be a paid member”

EMAIL

Email Autoresponder “KYC to Access”

New Autoresponders “Must be a paid member”

Email Broadcast “Must be a paid member”

Distribution List “Must be a paid member”

Broadcast History “Must be a paid member”

FRIENDS

Friends/Associates (accept Friend Requests) “Cannot request friends without KYC”

Referrals (can receive referrals) “will not receive bonuses until KYC is completed”

GROUPS

New Groups “KYC required to make groups”

Join Groups “KYC required to join groups”

MESSAGES

Messages (accept and respond to incoming messages) “requires KYC to initiate messages”

PAGES

Capture Widget (edit title, font and color limited to one) “requires KYC to access”

Capture Page (access capture statistics, cannot edit, limited to one) “requires KYC to access”

Profile Page Configuration (must upgrade to access)

VIDEO

Add Video (add videos, edit, remove) “requires KYC to access”

NOTE: KYC system has not been activated yet. It is in the works as is the wallet. This post reflects the coming policies in regards to KYC and also established the current log in requirements to prevent members sites from being deleted.

 

This is also notification of our policies being upgraded.

 

Thomas Prendergast
CEO
Markethive Inc.

Thomas Prendergast

Markethive New Registration Instructions

New Login Instructions

Recently our API vendor OneAll went down for over 12 hours. We used their service for registering and logging into Markethive. We were intending to replace them, because I am purging all 3rd party services from Markethive to provide better security and to prevent being de-platformed because Markethive refuses to comply to the political correct agenda and would rather offer full liberty and freedom of speech to all of our members.

With OneAll going down I made the executive decision to immediately switch to our own registration and login system, though not completely polished, fully capable to justify the switch in the moment.

This has caused some disruption, as this switch required all Markethive accounts be reset, thereby, logging in like you were used to has stopped and you need to reset your system.  Therefore I have made a video for you to be able to understand the procedure you will have to follow. It is not complicated nor is it lengthy, but it can be frustrating and disruptive.

But you will want to be able to login for many reasons. It is the Christmas season and I will be given away some presents and super specials. The wallet is now eminent and we are about to activate our 3 month login policy, that being, those that fail to login within every 3 months, your accounts will be deleted, terminated with no option to restore.

You will want the wallet so you can send your coins to the exchanges or vice versa.

Thomas Prendergast
CEO

Thomas Prendergast

Inequality? Or Just A Fact Of Life?

Inequality? Or Just A Fact Of Life?

How Do The Rich Get Even Richer? 

I think most of us have heard the saying, “the rich get richer, while the poor get poorer.” And the rich keep getting richer mainly because many are paying little in the way of taxes, if anything at all. How is this possible? What are the brazen loopholes and tricks that the 1% use to stay ahead and continue to gain wealth?   

Over the years, there has been much discussion, studies, and headlines around a billionaires tax and what it means for us non-billionaires. So why is there all this talk about billionaires and taxes in the US once again? 

Well, that's for two key reasons. Firstly, the policymakers in Washington are trying to go after this class of people with new tax proposals to help fund the American Families Plan.

The other fundamental reason it’s back in the spotlight is the amount of wealth accumulated over the last decade by specific individuals. And their wealth has been taxed at extraordinarily low rates. 


Image Source: Lisa Larson-Walker/ProPublica

Thanks to the Secret IRS files, the data was recently brought to light, essentially a leak of tax information that ProPublica covered in June. The leak contained vast troves of IRS data on the tax returns of thousands of the nation's wealthiest people covering more than 15 years. 

The Secret IRS Files

This report uncovered some of the most Illuminating stats of people like Mark Zuckerberg, Elon Musk, Jeff Bezos, Warren Buffett, etc. From 2014 to 2018, the 25 richest Americans increased their wealth by a collective $401 billion.

However, they only paid taxes of $13.6 billion during that period, equating to an effective rate of about 3.4%. Crazy, right? And if we were to drill down into some of the richest of this rich list, the numbers get even crazier. 

The illustration below shows the taxes paid on wealth growth for Buffett, Bezos, Bloomberg, and Musk. Buffett only paid an effective rate of 0.10%. Paying such low tax rates, it's no wonder that Buffett has become one of the biggest proponents of raising rates on the uber-wealthy like himself. 


Image Source: ProPublica

Now, you can see the effect of rates is 0.98%. 1.30% and 3.27% for Bezos, Bloomberg, and Musk, respectively. 

Another interesting graphic from this report is the one below.  It compares wealth growth and taxes paid by Bezos and the average American family. That noticeable dip on the household graph is that during the 2008 recession, many families lost their homes, where the bulk of their assets were. Bezos mostly owned stock, so he escaped any foreclosure. 


Image Source: ProPublica

The point here is not to shame these billionaires, as they have built successful companies, and capitalism rewards risk-takers. Moreover, it's also worth pointing out that all these folks have been paying what is legally owed. 

They've been doing what any rational person would be, using the tax code to their advantage. But this report highlights that the burden of proportional tax is borne much harder by those less well-off. And the reason for that is because of that same tax code.

 

The Enigmatic Codes

So let's take a closer look into these complex codes. Before we can delve into the specific tactics used by the rich, we have to understand precisely how most of them make their money. That's because the way that they make money will impact the type of taxes they'll pay. 

Most people will pay an income tax on their income which is mostly your primary source of income. In the case of most of society, this is their salary or wage. This income is taxed at different rates and goes up to 37%  at the US Federal level for the highest tax bracket. 

The examples used are from US taxes, although the practice is broadly the same in other countries. This income tax is usually hard to avoid, as it's taxed when it's earned, and in many cases, taken out of your paycheck. 

However, when it comes to the uber-rich, they own assets that are taxed as a capital gain only when they appreciate. Notably, long-term capital gains tax for assets held for more than a year is much lower than income tax. 

For example, the top tax rate for capital gains in the US is 23.8%, which is much lower than the maximum rate on ordinary income. Based on the raw percentage, that would be the same rate of tax paid by someone who earns between $86k and $164k. So, you can now see why so many of these billionaire founders of companies choose to take token salaries.

Bezos earns a measly $80k, and Steve Jobs famously took a one-dollar salary. Mark Zuckerberg and Larry Ellison have followed suit. By doing this, they're avoiding having to pay any income taxes at all. They are taking stock and options on a stock that will only be taxed at the capital gains rate, over 13% lower than they would have paid, should they have opted to take income. 

But the critical point is this capital gains tax is only due to being paid once the gain is realized, in other words, sold. They are not obligated to make this sale in any way, shape, or form. They can hold on to these assets for a lifetime and never pay tax on them, and that is precisely what most of them do. 

So, how can these guys afford to live without realizing those gains? There’s a common misconception that wealthy people try to avoid debt, and it’s actually quite the opposite. They are among the most prolific users, and they do it in ingenious and efficient ways. One of these is borrowing against their assets and living off borrowed money. They're using their vast assets as collateral to take out debt. 

Buy Borrow Die Tactic

They’re doing this because they don't have to sell those assets and realize that gain, so they can avoid paying any taxes on the rapid appreciation in their wealth and still live like kings. This self-explanatory tactic is called, Buy, Borrow, Die. 

In a nutshell, they accumulate valuable assets that can be used as collateral assets such as stocks, bonds, real estate, art, etc. Then once they have these assets, they move on to the next step, looking to borrow cash using the assets as collateral. Then, of course, the inevitable happens, and they leave their fortune to their heirs. 

The first two steps may sound similar to a home equity line of credit, but it's much more favorable than that. We usually have pretty onerous terms when we apply to get credit and use our house as collateral. We have higher interest rates, and the amount of credit we get on our homes is limited. 

However, if you offer a bank highly liquid securities as collateral, you can get an absolute bargain. According to this piece in the Wall Street Journal, some of these lenders don't even need credit reports. Goldman Sachs’s private bank has even offered securities-based loans on anything from $75k to $25 million, with no personal financial statements, tax returns, or paper applications. 

In terms of interest rates, Merrill Lynch quotes 3.2% for those with assets of over $1 million and a low 0.87% for those with assets of over $100 million. Those are rates of interest and terms that we could only dream about. Then once they have this cash, they can do whatever they want with it. 

Yes, they have to pay interest, but it's trivial. Moreover, the value of their assets usually appreciates more than the interest rate. This is termed Positive Carry, where they end up better off than before. 

But the real kicker is that interest on loans is tax-deductible. These interest payments can be used to offset their already low tax bill. And, of course, they don't really ever have to pay this off. The banks are okay with rolling it over into perpetuity. 

You get to live your best life and still retain the upside on all those assets. You see, it benefits the banks to have such high-value collateral. It's easy to liquidate, unlike houses, and the bank itself can earn high returns on those assets. It’s the rehypothecation process, and most of the nearly 1000 wealthiest Americans use this tactic. 

For example, Elon Musk, and cable billionaire, John Malone have pledged $150 billion of their stock for loans. There is the risk that the stock collateral falls in price and that these billionaires will get a margin call. Still, these assets generally appreciate, especially with all that money printing going on at the FED. 


Image Source: Tenor. Funarg

Now, there's a lot of accumulated capital gains sitting out there, and by some estimates, it's as large as $5 trillion. This wealth has never been taxed and never will be taxed in some cases. That's because of the final step required of these billionaires, which is to die. 

When these billionaires with so much wealth eventually die, they leave that wealth to their heirs. They may have outstanding loans that these heirs then pay off; however, they keep the assets. These assets may incur an estate tax, but several strategies around gifting, donations, and charitable foundations lessen the burden, but that's irrelevant when considering that these heirs won't have to pay those accumulated unrealized capital gains. 

It is all thanks to something called the Step-Up in Basis. Essentially, when people die and their heirs inherit their fortune, the “cost” of the investment in the eyes of the IRS is the value of the asset that they received. That makes the asset free from any capital gains tax. If or when the asset appreciates again in value, the tax payable is only the difference, not the original price.

This is how some family dynasties have held onto their wealth for generations. They can pay legions of estate planners and accountants to structure the most sophisticated of vehicles that are beyond the reach of us mere mortals. 

 

The Ongoing Debate

Many progressive politicians looked upon these tax strategies for the elite rich with some indignation. They are now at the forefront of a debate around billionaire taxes in the US. A proposal by the Biden Administration plans to come after the unrealized gains of assets held by wealthy individuals to help fund the massive social spending and climate bill. 

Irrespective of what the bill will finally contain, it's clear that part of the effort to pay for it involves taxing wealthy individuals. For example, back in May, the initial target of the bill was the Capital Gains Tax rate. 

As they were aware of the fact that CGT was much lower than income taxes, the Democrats proposed increasing the top rate for CGT to 39.6%. If you include the Medicare surtax, it will be 43.4%, with some state taxes increasing those numbers. 

This proposal was a tough sell as it applied to anyone with over $1million in income, which is a much larger subset of people than just billionaires, so that was overturned. The Biden White House returned with the proposal to tax the unrealized capital gains of some of the wealthiest Americans, a much smaller subset of around a thousand people.  

That didn’t go down too well either, as it sounded like a wealth tax, and in fact, that’s how it was marketed to some progressives. Janet Yellen explained that it was “merely a capital gains tax on liquid assets held by extremely wealthy individual billionaires. I wouldn't call it a wealth tax.”  

 

The Terminology Not The Real Issue

Whatever they want to call it, it is clearly a tax designed to go after the wealthy for their unrealized gains, a tax that many legal Scholars said may even be unconstitutional. But it's not the terminology that was controversial; it’s the whole concept itself. Who would determine whether an asset was sufficiently liquid? Where do you draw the line?

And if you do draw the line, would this discriminate against some billionaires in favor of others? Would those billionaires who have most of their wealth in stock have to pay that unrealized gain tax, while others who own land don't?

What if these billionaires have to pay that tax in one year on a Gain, but the following year, there's a loss? Shouldn’t they be entitled to a tax refund on the back of that loss? Will the IRS pay that out? 

What if some of the most ultra-wealthy have to sell their holdings to pay these taxes? What impact could that have on the broader market? Assuming someone like Elon Musk or Jeff Bezos had to sell tens of billions worth of stock in the companies they own, would that not harm the stock market? The same stock market that millions of middle-class Americans are invested in with their 401ks. All of that, for a mere potential tax benefit of $250 billion. 

In response to the above questions, the answer lies in the evidence of how these wealth taxes have worked previously in Europe. In 1990, twelve European countries had a wealth tax, however, there is only four today. One of the most recent casualties of the wealth tax was France which scrapped it in 2017.

This has provided a practical case study to analyze the real effects of these wealth taxes. In France’s case, since the 1980s, it has had an annual wealth tax on all those individuals who had over 1.3 million euros in assets. 

The first and most obvious impact of this wealth tax was that it drove the billionaires out. There was an exodus of wealthy people from France when it was in place, and because billionaires are the people who have the most means to move their tax domicile, they can easily move to more friendly regimes. By the prime minister's estimate, some 60,000 people with 35 billion euros worth of assets left between 2000 and 2016. 

Furthermore, the wealth tax was tough to enforce and costly. According to French Economist Eric Pichet, the cost of administering the tax was twice as much as was brought in. The country's fiscal budget was not only worse off than if it hadn't gone after this tax, but it now had even fewer billionaires to tax in the first place. 


Source: The Economic Consequences of the French Wealth Tax

Many other countries in Europe came to the same conclusion – the administrative burden just didn't make much sense. There were so many exemptions and loopholes that the rich could almost wholly avoid it. Then, of course, there was the impact this had on general Investments. 

Despite what most people tend to think about billionaires, their Investments do help to fuel innovation and economic growth. This was precisely the reason given by the Austrian government when it eliminated its tax, and it placed an “economic burden on Austrian Enterprises.” Switzerland also illustrates the potential drawbacks of a wealth tax in this article

Consequently,  Europe got a real-life practical example of the Laffer Curve. This well-known economic theory shows the decreasing marginal returns of taxes, and you get to a point where increasing taxes brings in even less revenue. 


Image Source: Fee.org.The Laffer Curve

 

Closing Thoughts

Now we’re faced with the pandemic that destroyed our economies and pushed millions into unemployment, but the rich got even richer during this time. Not only that, but they managed to accumulate most of that wealth without having to pay their fair share of tax on it. 

Naturally, this has led to a backlash from the populace. It feels just so inherently wrong that Warren Buffett pays 0.10% on his taxes, while his secretary pays over 37%. But to Warren's credit, he has been the one to point out this disparity

However, having said all of that, the alternatives don't sound too appealing either. Taxing unrealized gains is a recipe for potential disaster that could bog the IRS down for years. A proposal that the rich would fight tooth and nail and which could be proven to be unconstitutional. 

General wealth taxes have also been highly ineffective when implemented in European countries. Their impact has made governments and citizens poorer, while the rich simply migrate to other more favorable jurisdictions and enjoy their wealth there instead.

Some argue that we shouldn't be taxing success. If you disincentivize someone enough, then they will reduce their economic output. (That's the Laffer Curve.) I’m sure many would not be happy if the government wanted to tax all the gains on the cryptocurrency they’re hodling that has not been sold or has any intention to sell.  

I’m sure that many homeowners feel the same about their houses or apartments. Does this mean that the billionaires who own stock cannot feel similarly angered by the proposal? It's a complex and sensitive predicament for sure. 

The fact remains, though, as pointed out by the likes of Joseph Stiglitz and many others, that inequality is a blight on our society; tackling inequality would make life better for billions of people and supercharge the world economy yet, it's easier said than done. 

Perhaps instead of targeting the wealthy individuals at the top of the pyramid. It would be better and fairer to go after the corporations that have made them rich in the first place. The corporations with billion-dollar profits and tiny tax bills. The corporations that offshore their income and treat their workers appallingly in many cases. 

Individual enterprise should be allowed to flourish, but corporate greed is a much more insidious and damaging force in the world. So, maybe they should go after that instead. What are your thoughts? 

 

ecosystem for entrepreneurs

 

Resources: Coin Bureau, ProPublica

Also published @ Before It’s News: https://beforeitsnews.com/economics-and-politics/2021/12/inequality-or-just-a-fact-of-life-2529204.html

 

Thomas Prendergast

ELROND – Taking Blockchain And Crypto To The Next Level

ELROND – Taking Blockchain And Crypto To The Next Level

A Technology Ecosystem For The New Internet

Cryptocurrencies have many use cases. Some act as a store of value, others power blockchains that make it possible to create trustless digital contracts and permissionless, decentralized applications. Some cryptocurrencies are pegged to Fiat currencies to allow for stable transfers of value, and a few even underpin protocols that offer decentralized data, storage, and video streaming. 

Each of these use cases requires a particular set of blockchain attributes and economic incentives. This is why it's often said that there is no single cryptocurrency project that can do it all. That may well be true, but there is one that comes close. 

 

What Is Elrond? 

Elrond has combined the scarcity of Bitcoin, the programmability of Ethereum, and the speed of next-generation cryptos, like Solana, to create a cryptocurrency network unlike any other. Elrond is a platform built for internet-scale and capable of processing thousands of transactions per second at $0.001 per transaction, and able to scale to hundreds of thousands with demand.

Elrond’s distinction is being a project with a soul. One that has united forces of an incredibly vibrant community of 190,000 people, spanning 18 languages and in almost 30 countries. Elrond aims to create the backbone for high bandwidth, transparent financial system, and extending universal access to anyone, anywhere.

Elrond’s egold (EGLD) native token has exploded in value over the last year and seems to be poised for more gains. The Blockchain project has been considered under the radar and received very little crypto media exposure until now. 


Image source: Elrond · Growth

Historically, Elrond was founded in 2017 by Benjamin Mincu, Lucien Mincu, and Lucien Todea. The Elrond white paper was released in November 2018, and the Elrond main net went live in late July 2020. Like Cardano and Polkadot, Elrond is a competitor to Ethereum and seeks to be the foundation for the “new internet economy.”

 

Growth At All Costs

Unlike many smart contract cryptos, Elrond has a “growth at all costs” approach and has wasted no time onboarding individuals and institutions. It seems to be a perpetual process as Elrond has announced so many partnerships and integrations almost daily that it’s too many to mention here, so I’ll touch on some highlights. 


Coin98Analytics produced this graphic to demonstrate the enormity of the Elrond ecosystem.

 

The Ledger hardware wallet enabled support for egold in November 2020 and partnered with the Poly Network to make it possible to use Bitcoin, Ethereum, and dozens of other cryptocurrencies on Elrond as wrapped ESDT tokens.  

Elrond's documentation explains that they will be native to the Elrond chain, like egold. This means that they won't require a smart contract to issue and send like ERC 20 tokens on Ethereum. This protocol is very similar to Cardano’s Native assets, which have almost the same properties as ESDT Tokens. 

In December 2020, Elrond announced that it had partnered with Bitgo, which is one of the largest cryptocurrency Custodians. Also, Binance joined Elond as a staking provider. In October 2021, Elrond commenced collaboration with Ardana Stablecoin Hub on Cardano Blockchain to make egold (EGLD) one of the first native assets to collateralize stablecoins issued on the Cardano network. 

In the long-term, this collaboration will make it possible to bridge assets, such as the Cardano-native ADA token or other tokens issued on the two blockchains. This will allow their value to be leveraged in DeFi opportunities available on both networks.  

Beniamin Mincu, Elrond Network CEO says,

“This creative exploration of collateralizing a stable coin on one chain with the native coin of another can be a good starting point for interoperability between two progressive global ecosystems that are anchored in performance and innovation.”  

At the beginning of this year, Elrond began its initiative of onboarding the next billion people called 100 days of Hypergrowth. In addition to onboarding as many projects and users as possible, Elrond has launched its fully community-owned DeFi ecosystem, the Maiar DEX DeFi platform. The project describes itself as a technology ecosystem for the new internet. It includes fintech, decentralized finance, and the Internet of Things.

“By distributing Maiar DEX ownership to the next billion users, we lay the foundation for a truly global financial system that is accessible to everyone, everywhere,” said Beniamin Mincu, Elrond Network CEO.

 

What Makes Elrond Blockchain Different?

The Elrond blockchain uses Adaptive Stake Sharding to achieve incredible throughput features a robust consensus mechanism called Secured Proof of Stake and is smart contract compatible thanks to Arwen Virtual Machine.

In layman's terms, sharding involves breaking up a blockchain into multiple pieces called shards. This increases transaction speed because you can divide the transactions between different clusters of validator nodes running shards on the blockchain and process them in parallel. This is in contrast to regular blockchains, which require all the validators or miners to process one transaction at a time.

Sharding in the Elrond network was designed from the ground up to address the complexity of combining network sharding, transaction sharding, and state sharding. Elrond’s adaptive stake sharding takes this idea to the next level by dividing transactions, validators, and even the record of transactions between shards. The result is a cohesive protocol design, which not only achieves full sharding but attains the following goals as well:

  1. Scalability without affecting availability requires increasing or decreasing the number of shards to only affect a negligibly small vicinity of nodes without causing downtimes or minimizing them while updating states.
  2. Fast dispatching and instant traceability require that computing the destination shard of a transaction must be deterministic and trivial to calculate, eliminating the need for communication rounds.
  3. Efficiency and adaptability require that the shards should be as balanced as possible at any given time.

A trivial step-by-step example of how it works is depicted in the animation below:


Image Source: Elrond Network

 

Secure Proof of Stake (SPoS) ensures that no single shard is corrupted by randomly selecting a set of 61 validators from each shard and choosing one to produce a block based on its stake and reputation. This unique setup makes it possible for Elrond to process over 5,000 transactions per second per shard.


Image Source: Elrond Network

 

The best part is that the Arwen Virtual Machine gives smart contract transactions about the same speed, which is quite rare. More importantly, the Arwen VM can operate between shards, a development hurdle many other sharded blockchains are struggling to overcome.

Elrond is a complete redesign of blockchain architecture to achieve global scalability and near-instant transaction speed. The underlying technology beyond the current state-of-the-art concept is better explained in the video below by our mate Guy from Coin Bureau. 

 

Wrapping It All Up

Elrond is a next-level project, and it managed to combine the best features of many leading cryptocurrencies in the space and even improve them. Elrond's adaptive state sharding is like the sharding Ethereum is working on in its 2.0 version, but better. Elrond’s secured Proof of Stake is like Harmony’s Effective Proof of Stake (EPoS) but better. Elrond’s Arwen Virtual Machine is like Cosmos’s Cosm Wasm Virtual Machine, but better. 

When you combine these three features, you get a blockchain that is theoretically capable of handling more transactions per second than every other smart contract Blockchain combined. Elrond’s development has been exponential since its main net launched last year, and the growth is well deserved with much more on the horizon.

Furthermore, with its highly regarded team, Elrond started out with very few proclamations but a lot of activity and consistent growth over time. Contrary to what often happens today, where the launch of new projects is preceded by too much spam, sensational announcements on social networks, millionaire ICOs raise substantial funds before any commencement of technical work on the project. 

Conversely, Elrond’s development started out quietly and self-assuredly, without asking anyone for money, at least initially, and then managed to gain investors’ trust with a whole series of steps and transformations that have evolved over the recent years.  

I believe we will be hearing a lot more about Elrond in the future as momentum builds and the need for this unparalleled technology becomes paramount to enable universal access and transcend the global economy. Elrond will be the wave that will lift all boats, taking this massive opportunity from a niche group of people and extending it to everyone in the world. Elrond is set to open the flood gates to create a new market.

Disclaimer:  This content is provided for informational purposes only and should not be relied upon as legal, business, investment, or tax advice. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors and may not under any circumstances be relied upon when deciding to invest.

 

 

Also published @ Before It’s News https://beforeitsnews.com/science-and-technology/2021/11/elrond-taking-blockchain-and-crypto-to-the-next-level-3002719.html

 

Thomas Prendergast

THE RAT TRAP from Diana Larkin

November 26, 2021, 9:20 AM

THE RAT TRAP
"I have set up an elaborate, worldwide RAT TRAP and in the coming months, you will see many rats all over the world CAUGHT in this well-laid TRAP. Those rats were all given opportunities to repent and to come into the LIGHT, but they chose to remain partnered with DARKNESS and now the darkness will be their PORTION, as they face JUDGMENT, JUSTICE, and some DEATH.

Weep that they have chosen to remain in darkness and to live outside My LOVE and LIGHT, but do not give them UNSANCTIFED MERCY—that is giving mercy where I AM bringing judgment. Even in My judgment, as they suffer the consequences of their choices, there will yet be an opportunity to repent and come to Me for forgiveness. It would be a GREAT VICTORY against the darkness if those heavily partnered with it became BORN-AGAIN and came into the Light. They will still receive judgment and justice for their RAT-LIKE behaviour, but My GRACE and COMFORT will see them through and light will TRIUMPH over the darkness in their lives.

I AM declaring to you that My RAT TRAPS are set and that JUSTICE is coming."

This is the prophetic word from:

Diana Larkin
@JournalDiana11

Thomas Prendergast

The Future Is Here And It Will Be Filled With Endless Looting Rioting And Civil Unrest

November 21, 2021 by Michael Snyder

The Future Is Here, And It Will Be Filled With Endless Looting, Rioting And Civil Unrest

Our civilization is crumbling right in front of our eyes.  We have become accustomed to soaring murder rates, mass shootings, extreme degeneracy throughout the entire entertainment industry, violent rioting in our streets and severe corruption on all levels of government.  To a certain extent, a lot of these things seem “normal” to many of us at this point.  But the truth is that what we are experiencing is not even close to “normal”.  We are literally watching our entire society slowly but surely go down the tubes, and it is heartbreaking to watch.

If you think that I am being overly dramatic, just consider what happened in northern California on Saturday night.  A mob of more than 80 thieves wearing ski masks and armed with crowbars suddenly descended upon a Nordstrom store, and they ransacked the entire place in just minutes

More than 80 people stormed and robbed a Nordstrom in California on Saturday night, according to a police report from the Walnut Creek Police Department.

The robbery was over within minutes as thieves armed with crowbars and wearing ski masks streamed out of the Nordstrom into the dozens of cars lining the block.

Needless to say, Nordstrom workers were caught entirely off guard, and several individuals received injuries during the melee…

During the theft, two Nordstrom workers were punched and kicked, while another was sprayed with pepper spray. All three individuals were treated for their injuries on scene.

This sort of “organized crime” is becoming increasingly common, but the size and scale of this particular attack was particularly alarming.

 

This happened in one of the most prosperous areas of northern California, and one eyewitness described it as “like a scene out of a movie”

Brett Barrette is one of the managers of P.F. Chang’s restaurant across from the Nordstrom store. He watched as the bedlam unfolded.

“I probably saw 50-80 people in like ski masks with crowbars, a bunch of weapons,” he said. “They were looting the Nordstrom.”

“There was a mob of people,” he continued. “The police were flying in. It was like a scene out of a movie. It was insane.”

Meanwhile, the Louis Vuitton store in San Francisco was also hit by organized looters this weekend.

Many of the looters got away, but police were able to nail a few of them.

Even though this sort of thing is taking place so frequently now, I am still shocked whenever I see these sorts of videos.  For even more examples, please see my recent article entitled “In Some Parts Of America, Looting Has Become A Way Of Life”.

Over in Portland, approximately 150 rioters started fires and smashed things up following the Kyle Rittenhouse verdict.  At one point, about a dozen police officers were forced back into a garage by an extremely unruly mob

Video captured the moment protesters in Portland cornered police in a garage during riots over the Kyle Rittenhouse verdict.

The footage shows a crowd of angry protesters aggressively yelling at the police dressed in full riot gear. The group of nearly a dozen officers are seen backing up into a garage.

The door of the garage slowly closes as the protesters continue to confront the police, with one demonstrator even trying to push open the garage door.

Way too often, the bad guys are starting to get the upper hand in situations like this.

And I think that does not bode well for the troubled times ahead.

For years, I have been warning that this sort of civil unrest would be coming in the future.

Now the future is here, and the chaos in our streets is only going to be getting even more intense.

On the other side of the globe, rioting of a completely different nature is happening.  As authoritarian measures become increasingly extreme, vast numbers of people are standing up and saying that enough is enough

Violent protests have broken out against COVID-19 vaccine mandates and lockdowns across Europe amid new tough rules to curb winter waves of the virus.

Demonstrators angry about the new measures gathered in Austria, Croatia, Italy, Northern Ireland, the French territory of Guadeloupe and the Netherlands to protest the moves.

In Belgium, approximately 40,000 protesters descended upon the capital, and police fired water cannons and tear gas to try to control the crowds…

Nearly 40,000 people descended on the capital Brussels to protest against new anti-Covid measures banning the unvaccinated from entering restaurants and bars.

Some protesters were seen throwing projectiles at riot police and in response, officers fired water cannon and tear gas at the group. Police have made some arrests, but it is not immediately clear how many.

Next door in the Netherlands, the violence was even worse.  At one point, police officers actually opened fire on one group of “rampaging rioters”

Dutch police have arrested more than 30 people during unrest in The Hague and other towns in the Netherlands that followed an “ orgy of violence ” the previous night at a protest against coronavirus restrictions.

The violence by groups of youths in The Hague and elsewhere Saturday night wasn’t as serious as Friday night in Rotterdam, where police opened fire on rampaging rioters and arrested 51 people.

By imposing such harsh authoritarian measures during this pandemic, governments in Europe and elsewhere are losing their legitimacy.

And responding to protests with such violence will also result in a loss of legitimacy.

Part of living in a civilized society is being able to trust the government to do the right thing most of the time.

But now we have gotten to a point where large numbers of people in industrialized nations all over the globe do not trust their own governments.

And once that trust erodes far enough, it may get to a point where entire nations become virtually ungovernable by anyone.

Like I said at this beginning of this article, we are watching civilization crumble all around us, and that should make all of us very sad.

We are rapidly plummeting into an abyss of anarchy, madness and chaos, and the days ahead are not going to be pleasant.

Thomas Prendergast

It Might Seem Dark Now But America Will Shine Bright As Gold

Marin Katusa – It Might Seem Dark Now But America Will Shine Bright As Gold

Published September 16, 2021 6,265 Views

X22 Report

Marin Katusa is a NY Times Best Selling author of the Culder War and leading gold hedge fund manager in North America.  Marin begins the conversation talking about [JB] and how the future of America is very bright.

Click to Listen 

https://rumble.com/vml0kf-marin-katusa-it-might-seem-dark-now-but-america-will-shine-bright-as-gold.html

Thomas Prendergast