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Slightly Up From Slavery

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Slightly Up From Slavery

by Doug Casey, International Man Communique

 

Slightly Up From Slavery

 

To eliminate misunderstanding as to what taxes are, it is helpful to define the word "theft." One good definition is "the wrongful taking and carrying away of the personal goods of another." The definition does not go on to say, "unless you're the government."

There is no difference, in principle, between the State taking property and a street gang doing so, except that the State's theft is "legal" and its agents are immune from prosecution. Many people do not accept that analogy, because the government is widely viewed as being of, for, and by the people, even though it's also acknowledged as acting badly from time to time.

Suppose a mugger demanded your wallet, perhaps because he needed money to buy a new car and threatened you with violence if you weren't forthcoming. Everyone would call that a criminal act. Suppose, however, the mugger said he wanted the money to buy himself food. Would it still be theft? Suppose now that he said he wanted your wallet to feed another hungry person, not himself. Would it still be theft?

Now let's suppose that this mugger convinces most of his friends that it's okay for him to relieve you of your wallet. Would it still be theft? What if he convinces a majority of citizens? Principles stand on their own. Even if a criminal act is committed for a good purpose, or with the complicity of bystanders, (even if those people call themselves the government), it is still an act of criminal aggression.

It is important to establish an ethical viewpoint on the matter, even if it doesn't change your reaction to the mugger's (or the State's) demands. Just as it's usually unwise to resist a mugger, it's usually unwise to resist the government, which has a lot of force on its side.

That's not to say it's easy to swim against the tide. Every year at tax time promoters of big government haul out an assortment of nostrums to sedate the lambs as they are shorn. One of the worst is "Taxes are the price we pay for civilization," a statement of Supreme Court Justice Oliver Wendell Holmes. It is a splendid example of how, if a lie is big enough and is repeated often enough, it can come to be accepted.

Actually, the truth is almost exactly the opposite. As Mark Skousen, economist and author, has pointed out: "Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state is a complete failure of civilization, while a totally voluntary society is its ultimate success."

Taxes are destroyers of civilization and society. They impoverish the average man. They support welfare programs that anchor the lower classes at the bottom of society. They underwrite a gigantic bureaucracy that serves only to raise costs and quash incentive. They pay for public works programs (once called "pork barrel projects," but now rechristened "infrastructure investment") that are usually ten times more costly than their privately financed counterparts, whether needed or not. They maintain programs that cause huge distortions in the economy (such as deposit insurance for banks). And they foster a climate of fear and dishonesty. The list of evils goes on. But the simple truth is that anything needed or wanted by society would be provided by profit-seeking entrepreneurs, if only the tax collector would retire.

Protesting against taxes because they're a costly or inefficient way of providing services, however, is in good measure futile. It's like saying that the mugger shouldn't rob you because there might be a better way for him to get what he wants.

How serious is the tax problem in the long run? I believe it will become less, not more serious, despite the government's increasingly high tax rates and draconian enforcement measures. The major long-term trend of society is toward decentralization and smaller-scale organizations. The US government will prove no more able to deal with a rapidly evolving economy than was the Soviet government. More and more Americans will see the government as meaningless and irrelevant, as serving no useful purpose.

 

New Opportunities Are Emerging For Citizens of The World.

Freedom and democracy may appear to be struggling to stay alive in America, but there may be a knock-out punch ready to be released. The evolution of the blockchain-enabled metaverse is going to enable the 'Citizens of the World' to gain their own Freedom by democratizing power and creating a new world with new rules, new players, and new opportunities. For 99.99% of us, the metaverse will improve our real-world lives through the democratization of power and opportunity.

Along with the major long-term trend of society towards decentralization and smaller-scale organizations, there are new opportunities developing to help 'Preparers' in the cryptocurrency sector. Businesses are beginning to issue their own Crypto Coins that can be traded on Cryptocoin Exchanges.

Markethive.com for example will be releasing its HiveCoin (HIV) in the coming weeks. It has tremendous upside potential that is outlined in a Video by Founder Tom Prendergast, "Entrepreneur Advantage…".

Not only that, if you go to their website and register as a FREE Member, you will be given 500 HiveCoins for "FREE" along with access to several Earning Opportunities and online tools to increase your HiveCoin balance.

Be sure to check it out today – Markethive.com

Markethive

Tim Moseley

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The glow of American Independence by Bitcoin security

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The glow of American Independence by Bitcoin security

by Diana Ambolis 

 

To help finance World War II, our government dispatched combat veterans to towns around the nation to sell war bonds. They would have to defend the need of the battle and use public funds on it. Despite the presence of Nazis, the government had to present its point. They were assigned accountability. This responsibility no longer exists.

In 1971 United States abandoned the gold standard, bringing in the modern age of fiat money. No longer exists any feeling of duty. You are not obligated to purchase from the government, as was the case during World War II. They are not required to assume any kind of accountability. They employ a specialized machine for printing money. The money printer ensures the government’s ability to spend all freshly minted cash on war and cronies.

This present fiat system is not only destructive to the financial well-being of individuals but also significantly contributes to global evil. Fiat is undoubtedly the driving force behind all evil in the world today. If rulers could not generate money out of thin air, war, murder, and destruction would not reach the current proportions. There will be less disagreement if the government receives less money. Bitcoin is a valid alternative.

Politicians would need a valid justification to seize your money in a world with sound money since they could not manufacture it out of thin air. If politicians had to persuade the public of the merits of for-profit prisons, the drug war, or drone bombs in the same manner as they did during World War II, we would not be living in the same country. In addition to the economic world, irresponsibility is the source of all evil.

Also, read – The Future of Blockchain Technology in Africa

The Constitution is the United States’ ultimate law because it protects all citizens’ individual rights. Our Constitution protects the right to free speech, and the courts have determined that computer programming is expressive activity. Bernstein v. Department of Justice has a rock-solid foundation for Bitcoin.

This solid foundation of liberty should aid in establishing the United States as an example for the rest of the world. The ideal situation does not include the government supporting Bitcoin and distributing Bitcoin wallets to people. Governments in this world are indifferent to Bitcoin, and the financial and political sectors are diverging in the same way that Church and State once did.

Some individuals have radically divergent points of view. Some people feel that money may be used to persuade others to comply with one’s desires. Central bank digital currencies (CBDCs) and other regulation and control systems should be categorically rejected. Due to these concerns, I’ve decided to run for public office. I believe that sound money can do more for peace and good than I could in government, but I also feel that more voices for liberty are needed in Washington. I’ve enjoyed speaking with so many people during the presidential campaign about the significance of individual freedom and a robust economy. It’s nice that people recognize Blockchain Magazine as a Bitcoin expert and ask us about it. This is not only a hobby for nerds; it can pave the way for a more emancipated society.

The basis of both the American system and Bitcoin are liberty and the permission of adults. It makes perfect sense for the United States and its citizens to embrace the technology of freedom to build our nation and protect our independence from the fraudulent fiat currency system. If we can restore fiscal order, we can heal our nation.

Tim Moseley

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Are You New To Markethive? Do You Want To Start Accumulating Markethive Coin Before The Next Bull Run?

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Are You New To Markethive? Do You Want To Start Accumulating Markethive Coin Before The Next Bull Run? 

REFER THREE TO MARKETHIVE TO RECEIVE BONUS AIRDROPS AND ACTIVATE MICROPAYMENTS 

Referral Program For Free Members And Upgraded Associates

As Markethive continues to gain traction with new members joining daily, Markethive is steadfast and in preparation to take a large share of the new Market Network that is the next generation following the social media craze of Web 2.0. Markethive is a Social Market Broadcasting Network. It sounds like a mouthful, and it is!  

Markethive is an all-encompassing platform that has integrated;

  • Social Media (like Facebook, LinkedIn), 
  • SAAS tools (like GoToMeeting, Aweber, Google Apps),
  • Inbound Marketing (like Marketo, Hubspot), 
  • Commerce platforms (like eBay, Freelancers, Amazon) 
  • Digital Media (like Cointelegraph, Bitcoin.com). 

As Markethive’s foundation is Blockchain-driven, it has its consumer coin, currently named Markethive Coin (MHV), but soon to be renamed Hivecoin (HVC – the Ticker Symbol). It is fully integrated into the system and has created an Ecosystem for all Markethive members, free and upgraded Entrepreneurs. 

So Markethive has established its niche as the only Social Market Broadcasting Network with an infinity Airdrop and a system that rewards the users for engaging on the platform and learning how to use it with ongoing, real-time micropayments, otherwise known as a Faucet.

Markethive has the combined power of Facebook, LinkedIn, Marketo, and Amazon, with the real advantage of deriving income within the Markethive system while promoting your business and enjoying the social media interface. 

What If You’re A Free Member?

If you’ve just signed up for Markethive, you will have received your airdrop of Markethive’s Hivecoin (HVC) to your CoinClip. (The airdrop is currently at 500 coins.)

The next thing to do is to refer just 3 of your friends or colleagues to Markethive, which unlocks the Micropayment Faucet, allowing you to receive lifetime rewards of HVC.

So a Free Membership in Markethive allows you to earn coins with every post, process, and function within the system and, like a faucet system, earn micropayments of Markethive Coin. 

Remember, it is not just another payment service provider other Social Media platforms have adopted. You genuinely earn Hivecoin (HVC), and now is a perfect time to accumulate your coins. 

 

Bonus!

Markethive will also reward you with a  bonus of 250 HVC for the first three members you invite to join us. You will receive these coins to your coin clip as soon as they sign up and complete the verification process via SMS code.

Please note: To receive the maximum of 500 MHV bonus airdrop for all subsequent referrals (after the first three), you will need to upgrade to Entrepreneur One.

Markethive Wallet And Coin Exchanges

As the Markethive internal wallet is in the final stages of development, the next step is listing HVC on reputable coin exchanges and allocating an external wallet on the Solana Blockchain to Markethive members. You’ll be able to convert it into the currency of your choice or buy products and services within the Markethive ecosystem. 

After the release of the wallet, Markethive will launch a new offshore company to build its own exchange. Simultaneously, the Markethive Multidimensional Wallet App will be on the table for development. 

Markethive will roll out a schedule to deliver the wallets and administer them in tiers and stages led by the upgraded Entreprepreneurs as the first cab off the rank. 

Thinking About Upgrading To Entrepreneur One?

Upgrading to Entrepreneur One provides many benefits and extra opportunities to monetize your activities and businesses, as defined in this article, and is predominantly an online cottage industry. 

Furthermore, apart from the matching coin bonus of 500 MHV for each person you refer, you will have access to an advanced CMS control panel for your new "associate leads" found in the Friends section. You are essentially building your email list for your email autoresponder and broadcaster within the Markethive SaaS tools portfolio. 

As an Entrepreneur One Upgrade, you are considered an early adopter of Markethive, so ILP shares (Incentivized Loan Program) are included in the net profit revenue of Markethive. 

This is a unique opportunity to create a legacy and reap the rewards only venture capitalists could otherwise enjoy.

To upgrade to Entrepreneur One level, navigate to the home page and click on “Loyalty Programs” displayed in the menu. As displayed in the image above, a pop-up will appear where you will be prompted to follow the steps required.  

You can have more than one subscription, which not only multiplies the assets you receive as an Entrepreneur One associate; you also have the opportunity to onsell the subscription through the upcoming ILP exchange. The Entrepreneur One upgrade will no longer be available from Markethive when the internal wallet is released. 

The Entrepreneur One will become extremely valuable as we introduce more unique money machines, including the Press Release system and video advertising. 
 
The Automated Referral Panel

Using your referral links via the automated referral panel is an easy way to promote Markethive to your friends and colleagues on other social media sites. This will also be incentivized with micropayments soon. 

You will find the automated referral panel on the home page menu named Referral Program. You have two links, as shown in the image below.

1. The top one is the link to your Profile Page or Bio. As explained here, sharing this link is excellent for branding yourself or your business. 

Share your unique Referral Link on your social network profile consistently and quickly receive a lot of referrals! Click on the Social Media buttons, and your Capture page referral link will automatically be included. An assortment of thumbnails (images) will rotate, giving your post a fresh new look every time you share. 
 
The Capture Page 

2. The second link is your Capture page which is incredibly informative with a video and bullet point explanations. It’s intuitive, simple, and captivating. 

 

The Bottom Line

Bottom line, by joining Markethive, you will get a Market Network Inbound Marketing platform worth $2500 per month for free and get “Airdropped” paid up to 500 Markethive coins (HVC) just for joining. 

By referring Markethive to three people only, you activate the micropayment faucet and continue to receive HVC coin payments for the duration of your life within the hive for all activities you perform on the Markethive Platform. 

Since the entire system runs on the Markethive coin, (soon to be named Hivecoin), you can expect the volume demand and increased velocity of the MHV coin to drive coin value accordingly. This is one of the main reasons we refer to our system as a legitimate alternative to universal income, based on ethics and integrity, not government-mandated theft and graft.

Interestingly, the first Faucet invented was the Bitcoin faucet launched by Gavin Andresen, one of the earliest Bitcoin developers, in June 2010. At that time, Bitcoin was about 8 cents. It gave out 5 Bitcoins a day until 2011, when it ran out of coins. 

Markethive has embraced this reward system and applied it to the many marketing and communications aspects within Markethive.  The big what if is; in 10 years, will the Markethive coin have a similar rise in value? No doubt in my mind, given that HVC is a consumer coin with an actual use case, unlike so many other altcoins on the market. Time, technology, and the universal need for a holistic platform such as Markethive are on our side. 

Although crypto is currently in an unprecedented bear market, with many companies collapsing, it is considered by industry experts as a catalyst for emerging genuine projects to flourish. This includes Markethive and its rise to prominence as a pioneer in the social media and marketing sector of the Blockchain and Cryptocurrency space. 

With its comprehensive wallet and member merchant accounts nearing completion, we couldn’t have asked for better timing for Markethive to distinguish itself in the crypto market that is seeing companies rise and fall based on their true worth, as detailed in this article.

ecosystem for entrepreneurs

Meanwhile, get busy and refer three people to unlock the faucet and start accumulating HVC coins. You will enjoy the fruits of the Markethive ecosystem, which is Markethive’s vision for everyone and is destined to achieve. 
 
To follow Markethive’s progress come to the meetings on Sundays at 10 am MST. The founders of Markethive, Thomas and Annette, present all the latest updates and developments. See and hear explanations, ask questions, and witness the ever-evolving technology and concepts of Markethive. The link to the meeting room is located in the Markethive Calendar. See you there.

 

 

 

 

Tim Moseley

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Central banks step up gold buying in May June looks promising WGC

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Central banks step up gold buying in May, June looks promising – WGC

Central banks worldwide bought gold for the second consecutive month in May, stepping up their precious metal purchases, according to the latest data from the World Gold Council (WGC).

Central banks added 35 metric tons to the global gold reserves in May after buying 19.4 tons in April.

The biggest gold buyers were Turkey with additional 13 tons, followed by Uzbekistan with nine tons, Kazakhstan with six tons, Qatar with five tons, and India with four tons.

The only significant central bank seller was Germany, which reduced its gold holdings by two tons in May. The selling was likely because of "its longstanding coin-minting programme," the WGC said.

June is also looking very positive for central bank gold buying, with the Central Bank of Iraq (CBI) announcing that it bought 34 tons of gold in June, which raised its precious metal's reserves to just over 130 tons.

"This is the first significant gold purchase from the CBI since September 2018 (6.5t). This is not yet reflected in IMF data, but we will add this to our statistics next month," the WGC said.

Year-to-date, Turkey has dominated the gold-buying space with its purchase of 56 tons of gold in 2022, followed by Egypt, which bought 44 tons, and Iraq, which acquired 34 tons.

The Central Bank of Bolivia (BCB) also proposed a new law in June that would allow it to become the sole buyer of domestically-produced gold.

The May numbers support the WGC's earlier survey findings, which showed that 25% of the participating central banks intended to increase their gold reserves in the next 12 months, up from 21% reported in 2021.

"It shows that gold's performance during a time of crisis and its role as a long-term store of value/inflation hedge are key determinants of central banks' decision to hold gold," the WGC said.

By Anna Golubova

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

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Potential Boost for Bitcoin as 128 Trillion Worth of Gold Ore Is Discovered in Uganda

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Potential Boost for Bitcoin as $12.8 Trillion Worth of Gold Ore Is Discovered in Uganda

The cryptocurrency markets have been on the downside for most of the year. The recent discovery of gold in Uganda may likely be the miracle to help the market make an upward trace.

KAMPALA (Reuters) – Uganda, has revealed recent exploration surveys to show it has discovered gold ore deposits of about 31 million tonnes with an estimated 320,158 tonnes of refined gold valued at $12.8 trillion. The country wants to attract big investors to develop the sector hitherto dominated by small wildcat miners. Solomon Muyita, a Ugandan Ministry of Energy and Mineral Development spokesperson, made this known. 

Most of the gold deposits were found in Karamoja, a scorched sprawling area in the country's northeastern corner on the border with Kenya. Massive reserves were also found in the country's eastern, central, and western regions.

However, the argument on the scarcity of gold which makes it a store of value may be harmed after Uganda announced that it had discovered 31 million metric tonnes of gold waiting to be mined in the area. While gold is often regarded as a scarce asset, the recent development has posed a significant risk to that effect. It may cause panic amongst investors who may be wondering about its potential value shortly. 

If Uganda is truthfully sitting on that massive amount of gold ore, as the government acknowledged, will that not substantially boost the world's gold supply? That could significantly lower the price of gold and make it a less secure "store of value."

​​​​Gold vs. Bitcoin Debate

Source Kenesis

For many years, there has been fierce debate over the supremacy of Bitcoin over Gold. While Bitcoin is primarily praised as a currency, others believe that the coin is also a commodity that could be adopted as a store of value. The main argument for the use of Bitcoin as a store of value is the fact that it will never go bankrupt, and can be used as an investment alternative to gold or other commodities which have fallen in value in recent times because of inflation or recessionary economic conditions respectively. The second factor that propels the adoption of Bitcoin as a store of value is its ability to prevent capital controls and restrictions on banking transactions imposed by central banks due to government intervention in the financial market. For instance, China has banned trading cryptocurrencies such as Bitcoin through domestic exchanges.

Gold historically performs well during market corrections because it maintains its value; its price holds somewhat steady, then tends to rise as investors move from stocks to gold if a recession threatens. This makes it useful as a hedge, an investment that moves opposite another against market corrections or recessions. For example, the stock market may rise as the economy improves, but gold typically declines in value when the economy grows.

Thus, when the stock market falls, and the economy slows down, people will likely turn toward commodities like gold as a haven against inflation and economic weakness. In other words, investors who seek a stable store of value will often buy gold for their money rather than stocks or bonds that can fall in value. The gold's capped supply has helped the discussion that Bitcoin could be used as a store of value, but the recently discovered gold in Uganda may intensify the debate that Bitcoin is better suited. However, Bitcoin mining sites face scrutiny and resistance because of their electricity consumption.

Gold's Expected Loss Might Be the Cryptocurrency's Gain

It should, but the point here is that this sort of thing is logical. There is no way Bitcoin could experience a similar expansionary supply shock because of its strict 21 million supply limit. This makes Bitcoin a non-inflationary asset. Even if the Ugandan spokesperson is lying, which he may or may not be, it's only a matter of time before someone discovers gold on earth or an asteroid that massively increases supply. The critical question is, will Bitcoin potentially be a better store of value than gold?

The question is difficult to answer because it's a matter of opinion. Some people think that Bitcoin is more of a store of value than gold, while others believe it's not. Some argue that gold has had more stability because it has been around for thousands of years. The debate has also come to include how secure is bitcoin's blockchain? Is there any way we could hack it? Are we better off trusting a centralized authority than relying on no one? Some even say you shouldn't use it for anything because "it's just an experiment."

Bitcoin is a cryptocurrency that's built on blockchain technology. It was created in 2009 by Satoshi Nakamoto. The cryptocurrency is decentralized and not controlled by any bank or government. The supply of Bitcoin is limited to 21 million coins, and about 19 million are currently in circulation. Bitcoin can be used to purchase goods and services from vendors who accept it as payment. One way to measure the store of value of Bitcoin is to look at the total market capitalization of all Bitcoin in circulation. As of this writing, the total market capitalization was $366,361,873,280.33 on Coinmarketcap.

On the other hand, it is often said that there are no better investments than real estate and commodities, especially precious metals like gold, silver, platinum, and palladium. But historically, gold has been considered a superior investment and a reliable store of value over the centuries throughout the world, especially when currencies have become unstable and their purchasing power is questionable.

Gold is seen as a safe place to put money because there's a scarcity that provides insurance against inflation or deflation as well as providing a handy measure by which we can estimate the price of something. It also provides an alternative to paper currency, which serves as a hedge in times when governments are in turmoil, such as we're seeing now with Greece. But could these advantages still be attributed to gold after the Ugandan discovery? Who knows!

Could the Ugandan Huge Gold Discovery Be a Mere Fool's Gold?

On  April 1, 1988, an Australian fruit agriculturist in the small town of Beenleigh, Queensland, was publicized to have discovered a massive "gold nugget." The farm owner and his family were excited as they thought that they had found Australia's largest gold coin worth thousands of dollars on their land. 

However, when it was confirmed that this was not the case, he went into hiding rather than face the media storm that would follow from being involved with what could be considered a hoax. Some people worldwide, including President Ronald Reagan, referred to the discovery as "one of the most incredible things I've ever heard".

Fool's gold is common in the mining industry. The Fool's gold is sparkling-yet-worthless mineral pyrite that gold miners in the 19th Century mistook for a bar of natural gold. This mineral pyrite has long been referred to as Fool's gold because its metallic yellow copper-like crystals trick miners into thinking they had struck gold.

The statistics gathered from the U.S Geological Surveys imply that 244,000 metric tonnes of gold, the equivalent of 268,400 tonnes of gold, have been found in the world to date, of which 187,000 metric tonnes (205,700 tonnes) have been produced, leaving a surplus of 57,000 metric tonnes (62,700 tonnes) of known reserves. This implies that Uganda's gold discoveries surpass the global gold discoveries by 115.5 times. Could it be possible that the Ugandan government may have confused metric tons with ounces in its projections?

Nonetheless, Muyita said a Chinese company named Wagagai had set up a mine in Busia in the eastern part of Uganda and was expected to start production this year. Wagagai had invested $200 million, and its mine will have a refining unit. The Russian government also seems interested to hit the gold mine in Uganda.

The massive gold discovery in Uganda brought mixed feelings among investors. Most people see it as a miracle that could finally make Bitcoin be accepted as a store of value, while others see it as a disaster that may eventually affect the value of gold.

Microstrategies CEO Michael Saylor in an interview with CNBC said:

“Every commodity in the world has looked good in a hyperinflationary environment, but the dirty secret is you can make more oil, you can make more silver, you can make more gold […] Bitcoin’s the only thing that looks like a commodity that is scarce and capped.”

 

Garrick Hileman, head of research at Blockchain.com, has this to say during an interview with Cointelegraph:

 

“The Ugandan find underscores why the approximately 200 million holders of Bitcoin believe that ‘digital gold’ — Bitcoin — is superior to actual gold in terms of its scarcity and reliability as a store of value in the decades to come.”

As was the case with other major gold discoveries in history, like the 19th century South African gold rush, the introduction of this much new gold — or even just growing awareness of the Ugandan find — “could have significant negative price implications for gold over the coming years,” Hileman said.

In Summary

Bitcoins and other cryptocurrencies are based on the idea that electronic currency is a secure and efficient transaction. The impact of 31 million tonnes of gold ore on the crypto market will affect prices for cryptocurrencies. This is because the volume of gold ore will create more demand for cryptocurrencies, leading to higher prices. This development will be welcomed by many investors who look for ways to invest their money in safe havens.

This impact on prices may be inflationary because it will increase the supply of cryptocurrencies. It is also possible that this will lead to an increase in the use of cryptocurrencies as a mode of payment. This huge find could quickly push inflation down and provide a much-needed boost to global economies.

 

​​

 

Tim Moseley

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US dollar weakens against euro sterling in US holiday trading

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U.S. dollar weakens against euro, sterling in U.S. holiday trading

The euro and sterling rose on Monday against the dollar in a quiet trading session amid a holiday in the U.S., while global risk sentiment has improved.

With the U.S. markets closed for Independence Day, markets expected a light trading day, with major currencies gaining some ground against the U.S. dollar, which had climbed to a two-week high on Friday.

The euro rose 0.3% to $1.0457, but stayed barely above May's five-year trough of $1.0349. While sterling rose 0.5% to $1.2155 after hitting a two-week low of $1.1976 on Friday.

"Quiet trading to start the week is seeing the U.S. dollar weaken against most major currencies as it unwinds Friday’s gains while ignoring a modest risk-off tone in markets," said Shaun Osborne, chief FX strategist at Scotiabank.

Reports that the White House will announce an easing of some Chinese tariffs later this week in an attempt to dampen elevated inflation helped inject some optimism back into markets, "giving currencies an extra push against the U.S. dollar," Osborne added.

The Australian and New Zealand dollars, as well as the Swedish crown , rose on Monday after hitting two-year lows on Friday.

But amid fears of a global recession, the euro remained near a five-year low against the safe-haven dollar.

The war in Ukraine and its economic fallout, in particular soaring food and energy inflation, has been a major drag on the euro, which has weakened 8% against the dollar this year. The difference between the European Central Bank and the U.S. Federal Reserve response to higher inflation has also weighed on the euro. read more

Data on Friday showed euro zone inflation surging to another record, adding to the case for the ECB to raise interest rates this month for the first time in a decade. read more

Jeremy Stretch, head of G10 FX strategy at CIBC said he expected headwinds on the euro to persist as the ECB is set to hike rates on July 21 by "a mere 25 basis point".

"ECB action remains moderate when compared with a 75bps Fed hike," he said. "Beyond ECB monetary policy discussion, the primary European Union risk variable relates to the energy sector."

Safe-haven demand has kept the dollar elevated even if markets have scaled back some of their U.S. rate hike expectations. The market is pricing in around an 85% chance of another hike of 75 basis points this month and rates at 3.25% to 3.5% by year end – before cuts in 2023.

The U.S. dollar index eased 0.15% to 104.9, not far below last month's two-decade high of 105.790.

Looking ahead to the rest of the week, investors are awaiting publication of minutes from last month's Fed meeting on Wednesday and U.S. employment data on Friday.

Australia's central bank will meet on Tuesday and markets have priced in a 40 basis point (bp) rise in interest rates. The Aussie may not catch much of a boost if a hike of that size, or thereabouts, is delivered.

Reporting by Joice Alves. Editing by Jane Merriman and Chizu Nomiyama

Time to buy Gold and Silver on the dips

 

Tim Moseley

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The Real Spirit of America Lies in Each of Us

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The Real Spirit of America Lies in Each of Us

By Teeka Tiwari, editor, Palm Beach Daily

 

The Real Spirit of America Lies in Each of Us

 

The Real Spirit of America

Recently, I was in Pennsylvania attending my daughter’s college graduation. I popped into a local Walmart to pick up a few sweet treats for her. I could not believe what I saw. The shelves were bare. It left me shocked.

You see, I still remember the first time I walked into a U.S. supermarket. It was 1987. I felt like my head would explode. I had never seen such abundance in my life. There were rows upon rows of shelves bulging with a bounty of food I had never seen before.

I wasn’t born here. I grew up in United Kingdom’s foster care system… If you’re not familiar with the U.K. government, it’s socialist. I don’t mean “socialist” like China, Venezuela, or the former Soviet Union. Instead, the U.K. is what political scientists call a “welfare state.”

In a welfare state, the government plays an active role in the protection of the economic and social well-being of its citizens. Most developed nations, including the United States, offer some form of welfare protection to their citizens. For example, the U.S. provides Social Security to senior citizens… medical assistance to veterans… and food subsidies to poorer households.

I’m not saying the state shouldn’t help our senior citizens, veterans, or the neediest among us. But in the U.K., people believe the state should care for them from cradle to grave –no matter what. The state acts like your mom and dad. It makes all your decisions. I know from experience…

 

Learning Self-Reliance

One of the foster homes I grew up in housed me in a cramped, unheated room on top of a garage. It was so cold I could watch my breath coil into a frigid mist. My future looked as bleak and cold as my tiny room. But I had big dreams.

Ever since I was 12 years old, I’d wanted to work in the stock market on Wall Street in New York City. I once told my U.K. school job counselor this. His response? He told me I should focus on manual labor. “Be a telephone repairman,” he said. I knew in my heart that my future was in the financial markets.

As a teenager trapped in the foster care system, I soon realized no one would rescue me. No one would believe in me. No one would encourage me to pursue my “wild” dream. That meant I had to rescue myself. It meant I had to believe in myself and encourage myself when things didn’t go my way. At the time, I didn’t know it… but I was adopting the beliefs that have proven to be the backbone of what has made America great. Traits like self-reliance, grit, and persistence.

I watched American TV shows such as The A-Team, Miami Vice, Starsky & Hutch, Hart to Hart, The Six Million Dollar Man, Taxi, Hill Street Blues, and The Rockford Files. I loved how Americans embraced individualism. People didn’t wait on the government to give them a handout. If they had a dream, they pursued it. If the dream failed, they took responsibility and tried again. If it succeeded, they reaped the profits.

The U.S. capitalist system helped create companies like Tesla, Amazon, and Microsoft. It made men like Elon Musk, Jeff Bezos, and Bill Gates the wealthiest people in the world. To succeed in America, I knew that all you needed was ambition and work ethic. I had plenty of both. So when I turned 16, I left for America…

 

Coming to America

With just $150 in my pocket, I set course for the world’s financial capital – New York City. When I arrived in the Big Apple, I worked three jobs. During the day, I worked 8-hour shifts at Roy Rogers. At night, I worked 4-hour shifts at the Key Food supermarket – bagging groceries and sweeping floors. On Saturday and Sunday, I’d work 12-hour shifts at a newspaper store stocking shelves and preparing the Sunday papers.

It never bothered me to work like that. I never felt somebody owed me anything. I was overjoyed I could find so much work. To me, America was a paradise. A place that rewarded hard work.

 

But My Dream Was To Work On Wall Street

By the time I was 18, I had wrangled an introduction with a hiring manager at Lehman Brothers named Frank. He had no interest in hiring me until I told him I’d work for free. Let me repeat that: I told him I’d work for free. I was prepared to undergo the immense financial hardship of working for free because I knew the education I’d receive at Lehman Brothers would transform my financial life.

Frank looked at me intently when I said I’d work for free. He saw I was serious. And he changed my life by agreeing to hire me. He’d even pay me to boot. I would earn $4 per hour. And they expected me to work 10 hours per day… 50 hours per week. But they would only pay me for 29 hours per week. I later found out they chose less than 30 hours per week to avoid providing me with medical benefits. Fellow trainees were bitter about it. I wasn’t.

I was overjoyed that someone was willing to give me a shot. So there I was… working 50 hours a week, making $116 each Friday. That came out to $2.32 per hour. I picked up a job working nights on a loading dock in Brooklyn to pay rent, food, and utilities (I couldn’t afford health insurance). I worked 12-hour shifts as a cook at a local diner on Saturday and Sunday.

Between all three jobs, I was pulling in $364 per week before taxes. Out of this meager amount, I was still able to save money each month. Of course, that meant I never ate out, I didn’t own a telephone, I had no television, and I either walked or took public transportation.

One month I needed an emergency root canal. That just about cleaned me out. That month I lived on plain pasta with salt. My weight dropped precipitously. My chest sunk in, and my skin wrapped tightly around my bones. I looked like a living skeleton. At one point on the way to work, I fainted on the train from lack of food. But I never felt sorry for myself. I just stayed focused on what I wanted and kept working hard. I knew that all of my work would pay off at some point.

So at Lehman, I started as an assistant for the big-time brokers. Eventually, I became a big-time broker myself. There’s nowhere else in the world where someone like me, who grew up in foster homes with no college degree, could get an opportunity to work at one of the biggest financial firms in the world.

What I really loved about America was that the only color they cared about on Wall Street was green. Nobody cared that I am of Indian descent. Nobody cared that my skin color is brown. As long as you could make money, Wall Street accepted you. That’s all that mattered. And that was the purity of the capitalistic American spirit I loved.

 

Is the American Spirit Fading?

When I first arrived in the United States, I proudly told people I wanted to be a stockbroker. And they’d encourage me. “Yeah, that’s amazing. You can do it.” But something has changed today… Now, when I tell people I want to make money, they question me. “Why do you want to make so much money? What’s wrong with you? Why are you taking away resources from other people?”

I don’t recognize this America. I know I sound like a Boomer… But this isn’t the same country I arrived to back in 1987. It’s different. It’s becoming like Europe, where people actually believe the state owes them something.

Friends, the state doesn’t owe you anything. The state’s job is to protect our borders… protect our property and individual rights… and settle disputes between people in a court of law. Yet, today, people have this sense of entitlement that the state owes them something. I can’t change that. America’s on the road to becoming a European welfare state. And it breaks my heart. You can’t understand how much I love America. And I’m talking about the spirit of the American people, not the U.S. government.

Our country is amazing. You can spin up a business and a bank account in an afternoon. Try doing that anywhere else. The market size here is so massive that if you can add value, you will find a market to make your fortune. So many born and raised here fail to see just how amazing and opportunity-filled America is. That’s not a judgment. It’s an observation.

 

Preparing for the Future

I truly believe I was an American born in the wrong country. It’s as if someone spirited me from the hospital and dropped me off in a hospital in London. Growing up, I was so different from the people around me. I thought something was wrong with me. I didn’t realize at the time that my spirit was American. England never felt like home.

In my heart, I knew I belonged in America. That’s why I shed a tear every time I stand for our national anthem. So it pains me to see America follow the same road as Europe. It pains me to see the shelves bare at American grocery stores. It pains me to see hopelessness and resignation in the eyes of so many of today’s youth.

I’m not a politician. And I don’t care for the political polarization we see from both sides of the aisle in Congress. I can’t change that… But I can prepare for the coming changes in America. The welfare state is on its way here. It will soak the rich and middle class alike.

Our country is being dismantled by a set of beliefs that is killing the buying power of our dollars… choking the life out of innovation… and worse of all, brainwashing our children to abandon personal exceptionalism in the pursuit of collective mediocrity.

This is not the America I know. Am I just an old man with outdated beliefs? Perhaps I am. But where else but America could an uneducated immigrant from the foster care system go on to build a financial fortune? I know of no other place like our place: America.

So what am I doing to protect and grow my wealth? I’m already 1,800 words into what was supposed to be a 750-word essay. So I’ll save that for another day. For now, I will enjoy this Fourth of July. And I hope you do, too. Because even though I don’t like where our country is headed… I still believe in the American spirit. I still believe in the American people. I still believe in the free market and entrepreneurial spirit that made America the world’s greatest nation.

Let the Game Come to You!

 

New Opportunities Are Emerging For Citizens of The World.

Freedom and democracy may appear to be struggling to stay alive in America, but there may be a knock-out punch ready to be released. The evolution of the blockchain-enabled metaverse is going to enable the 'Citizens of the World' to gain their own Freedom by democratizing power and creating a new world with new rules, new players, and new opportunities. For 99.99% of us, the metaverse will improve our real-world lives through the democratization of power and opportunity.

Along with the major long-term trend of society towards decentralization and smaller-scale organizations, there are new opportunities developing to help 'Preparers' in the cryptocurrency sector. Businesses are beginning to issue their own Crypto Coins that can be traded on Cryptocoin Exchanges.

Markethive.com for example will be releasing its HiveCoin (HIV) in the coming weeks. It has tremendous upside potential that is outlined in a Video by Founder Tom Prendergast, "Entrepreneur Advantage…".

Not only that, if you go to their website and register as a FREE Member, you will be given 500 HiveCoins for "FREE" along with access to several Earning Opportunities and online tools to increase your HiveCoin balance.

Be sure to check it out today – Markethive.com

Markethive

Tim Moseley

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Conclusions Of The G7 Summit

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Conclusions Of The G7 Summit

 

 

The 48th G7 summit was held from 26 to 28 June 2022 in Schloss Elmau, Krün, Bavarian Alps, Germany

 

 

The G7 consists of seven of the world’s richest countries, which meet annually to typically discuss global security, economic, and climate concerns. This year, U.K. Prime Minister Boris Johnson, German Chancellor Olaf Scholz, Canadian Prime Minister Justin Trudeau, French President Emmanuel Macron, Italian Prime Minister Mario Draghi, Japanese Prime Minister Fumio Kishida, and U.S. President Joe Biden attended the event.

Although Russia joined the group in 1998 – and the name changed to G8 – the country has been excluded since 2014 after annexing Crimea.

The 2022 summit was the first summit for German Chancellor Olaf Scholz and Japanese Prime Minister Fumio Kishida.

 

Topics Of Discussion

As usual,  the summit had several important topics to discuss. The G7 summit supported Ukraine, promised anti-Russian sanctions, and addressed the climate. Further decisive support for Ukraine, greater political and economic pressure on Russia, stronger climate protection, and also a call to China to respect human rights – are the main results of the three-day summit of the G7 group of world economies.

The representatives of Germany, Britain, France, Italy, Japan, Canada, and the USA decided to tighten the already unprecedented sanctions against Russia by, among other things, banning the import of Russian gold. The price capping of Russian energy raw materials is also at stake.

The topic of the summit was also China, which, according to German Chancellor Scholz, the G7 expects not to help Russia circumvent sanctions. The group also called on Beijing to act judiciously in the dispute with Taiwan and to respect human rights not only in Tibet, Hong Kong, or Xinjiang province, and not to abuse its opponents for forced labor.

The program called the Partnership for Global Infrastructure and Investment (PGII) is seen as a counterweight to China's mega-project known as the New Silk Road. The trail, which is officially called the Belt and Road Initiative, is seen by Western countries as an attempt by Beijing to increase its influence in Asia and other continents. The G7 group of major world economies will invest 600 billion dollars in infrastructure in the world over the next five years. US President Joe Biden announced. 

Food safety was another big topic. The G7 blames the current rise in food and fertilizer prices and the dramatic worsening of the food crisis in the world primarily on Russia, which caused instability by invading Ukraine and blocking the export of Ukrainian grain.

The G7 countries intend to impose further sanctions on Russia, which will reduce Moscow's income, including those from the sale of gold. They will also consider a price ceiling on Russian oil. Russia, due to its aggressive war against Ukraine, also bears enormous responsibility for the big increase in food and fertilizer prices and for the dramatic worsening of the world's food crisis, G7 officials said.

Ukrainian President Volodymyr Zelenskyy spoke to the statesmen via video conference on Monday 27th June.

 

 

 

 

 

 

 

 

 

Co-operation With Other States

The G7 also invited the representatives of Argentina, India, Indonesia, Senegal, and the Republic of South Africa to the summit. Leaders agreed as well to strengthen their cooperation at the global level. Based on the existing partnership with the Republic of South Africa, they will pursue new partnerships for a just energy transformation with:

Indonesia, India, Senegal, and Vietnam.

Russia Sanctions, Energy, Food – what the G7 agreed

"We will explore further measures to prevent Russia from profiting from its war of aggression," the final communique of the G7 meeting said.

"We will further reduce reliance on civil nuclear and related goods from Russia, including working to assist countries seeking to diversify their supplies."

"As for oil, we will consider a range of approaches, including options for a possible comprehensive prohibition of all services, which enable transportation for Russian seaborne crude oil and petroleum products globally, unless the oil is purchased at or below a price to be agreed in consultation with international partners."

ENERGY

"In coordination with the IEA, we will explore additional measures to reduce price surges and prevent further impacts on our economies and societies, in the G7 and globally," the communique said.

FOOD SECURITY

"We commit to an additional $4.5 billion to protect the most vulnerable from hunger and malnutrition, amounting to a total of over $14 billion as our joint commitment to global food security this year," the G7 members said in a statement.

"We invite all like-minded countries to consider joining us in our actions,"

the communique of the G7 summit says.

Protestors Hold Peaceful Rally                                                                      

As also during the previous G7 meetings there were protests by antiglobalists.

20 000 policemen were prepared but the protests were relatively mild.

 

 

 

 

 

 

 

 

 

 

 

Protests in Munich against the G7 summit

 

 

 

 

 

 

 

 

 

Police were prepared
Oxfam is a British-founded confederation of 21 independent charitable organizations focusing on the alleviation of global poverty, founded in 1942 and led by Oxfam International.

Photos of protests against the G7 summit organized by OXFAM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source:

Ceskenoviny.cz

Blesk.cz

Reuters.com

time.com

 

 

Tim Moseley

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GoldSilver -How to trade this bloodbath

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Gold/Silver -How to trade this bloodbath

The broad-based selling continued in the commodity markets this week, where "inflation worries" have shifted to "recession fears." Looking back through several trading journals of mine, I can tell you that volatility operates at its highest in a deflationary/recession-type environment. Financial conditions will continue to deteriorate until the Fed pauses/pivots dovish, with corporate profits, growth, and liquidity all strained simultaneously. The spillover effect will cause cryptocurrency, real estate, and tech companies to accelerate layoffs well into the fall.

Daily chart of 10-year Treasury yields

Cross-asset class correlations show a repetitive pattern in the markets where inflation expectations elevate when Crude Oil prices rise, causing yields to cycle higher, giving a boost to the Dollar, which puts slight pressure on the Gold market. This cycle was broken abruptly on Friday as traders recognized that if a recession comes to fruition, the most likely outcome will result in declining Treasury yields, giving way for liquidation in Gold with panic buying in the treasury market to lock in higher rates.

Daily Gold Chart

Copper, Platinum, and Silver faced a beatdown on Friday from multiple directions. General Motors reported that nearly 100,000 vehicles sat uncompleted due to supply chain issues. At the same time, ISM Manufacturing data in the U.S showed that new orders had contracted to a two-year low. Remember, industrial fabrication makes up the bulk of demand for these three metals. We expect them to make a substantial recovery once the Fed declares victory on inflation and pivots to stimulating the economy. Therefore, positioning in these metals needs to be considered long-term investments in extreme washouts like what we are seeing now. Any new positioning should be in December 2022 or into 2023 on futures contract purchases. If you have never traded Silver futures, we completed a new educational guide that answers your questions on how to transfer your current investing skills into trading "real assets," such as the 1000 oz Silver futures contract. Additionally, you will receive a free two-week trial to our flagship report, "The Morning Express," giving you critical levels of support in resistance in the Gold and Silver. You can request yours here: Trade Metals, Transition your Experience Book.

Our Strategy

We remain bearish, taking tactical shorts on U.S equities on any significant bounce targeting the Nasdaq and Russell 2000. The leveraged stocks that make up these indices are most at risk during a recession. We also maintain our bearish stance on crypto and traditional currencies such as the British Pound, Euro, and Yen. We are also bearish and targeting economically sensitive commodities such as Cocoa, Corn, and Soybeans on bounces. We maintain a bullish stance on China as it continues to stimulate its economy. Crude Oil should remain firm in the front months while weakening over time as we get deeper into the recession. Therefore, we will look at leveraged option bets to play a further correction. To help you identify different technical analysis formations, I went back through 20 years of my trading strategies to create a Free New "5-Step Technical Analysis Guide to Gold but can easily apply to Silver." The guide will provide you with all the Technical analysis steps to create an actionable plan used as a foundation for entering and exiting the market. You can request yours here: 5-Step Technical Analysis Guide to Gold.

By Phillip Streible

Contributing to kitco.com

Time to buy Gold and Silver on the dips

 

Tim Moseley

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What If You Simply Do The Opposite?

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What If You Simply Do The Opposite?

Over and over we hear how to succeed, how to achieve our goals and dreams, and so forth. And yet, somehow most people are falling far short of those goals and dreams…

 

What If You Simply Do The Opposite?

Now why is that? Perhaps it’s time to do the opposite. In a famous episode of Seinfeld, George Costanza was a perennial loser who one day decided to do the opposite of what he would normally do in every facet of his life. Result? Success!

Another example is contrarian investing – that is, going against conventional wisdom to buy when others are selling and selling when everyone else is buying – has been known to build fortunes. And this holds true for not only investments, but also in real estate.

Another example of the opposite working: Over and over we’ve been told to do affirmations to improve our outlook and our outcome. Result? If we do them a million, billion, gazillion times, they absolutely do work. But who wants to repeat the same phrases over and over 50 times a day? Not me.

Now I hear that if we simply rephrase our affirmation as a question, we only need to say it a few times here and there for it to work. So instead of saying, “I’m a success. I’m a success. I’m a SUCCESS!” we now ask ourselves, “Why am I so successful?”

Go ahead and try it and see if it doesn’t feel different than simply telling yourself you’re a success. Powerful, isn’t it? That’s because by asking the question, you are telling yourself to find all the reasons why you are successful. In other words, rather than just hearing words over and over, you are now actively participating in the process, and putting your subconscious mind to work helping you find the answers. What a difference!

I was going to write an article tomorrow on how to be successful, but I think I’ll scratch that. Instead, I’m going to write about how NOT to be successful, and we’ll see what happens. My tongue is firmly planted in my cheek as I write this, so let’s have some fun!

Stay tuned for tomorrow’s installment where I share with you “9 Ways to Be Certain You’ll Fail in Internet Marketing”… Be sure NOT to come back tomorrow to check it out, ok! 😉

Tim Moseley

The Artist that came out of the Winter