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The Great Migration of Americans Out of Dysfunctional Cities

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The Great Migration of Americans Out of Dysfunctional Cities

by Doug Casey, founder, International Man Communique

 

The Great Migration of Americans Out of Dysfunctional Citiesleave nyc.jpg
 

International Man: After the outbreak of the Coria and subsequent government actions, many Americans decided to move to a new state.

For example, it's estimated that 319,020 residents fled New York state between July 2020 and July 2021, which amounted to about 1.6% of its population. It was the largest outflow of any state during this period.

What is going on here?

Doug Casey: It's quite simple and obvious: people are getting away from what they don't like.

In essence, that means taxes, regulations, corruption, street crime, and a "woke" social ambiance. These are all things that relate to government. As late as the 1950s, the local government wasn't a major factor when deciding where to live. Now it is.

Some states now have up to a 13% income tax, and some have 8 to 10% sales tax. These are huge considerations where they were once trivial. So there's a huge difference between various states regarding the costs imposed upon you by the government.

Generally speaking, the highest tax states are also the most woke and the most regulated. That's because the wokesters approve of high taxes in principle. They believe a big government is good and necessary. Furthermore, the high taxes go to promote woke policies. So high taxes and woke policies naturally reinforce each other.

The places with the most woke governments and highest taxes generally have the highest levels of welfare spending, which draws in a certain type of person. As a result, they have hundreds, or even thousands, living on the streets.

They used to be termed "bums" or "vagrants." Then you were supposed to call them "the homeless." That sounded better because it didn't imply a moral failing, just the lack of a permanent residence. Now, however, you're supposed to call them "the unhoused." This further softening seems to imply that they just don't have a house for the moment—that sounds no worse than not having a car, airplane, or perhaps a diamond ring, or maybe a pension. They're "underprivileged" and should have a home in our hearts. No moral failing there.

I prefer to call these people bums, the traditional term. But it's almost passed out of the language. It should be re-instituted. It's crazy what the progressives and the wokesters have done to the language. Their euphemisms have made words as dishonest as their policies and philosophies.

Places like New York, Baltimore, Chicago, San Fran, and scores of other liberal bastions have the worst crime because they draw in and retain the worst kind of people—those who want to take advantage of their woke policies. And they scare away people who value the opposite values—hard work, prudence, temperance, self-reliance, justice, and the other traditional virtues. The politicians in these places promise bread and circuses to the degraded hoi polloi in exchange for their votes. They draw in the worst people and scare away the best. It's a self-reinforcing type of situation that can become a death spiral. The US is no longer a democracy but a kakistocracy.

Although moving can be inconvenient, it's insane to stay rooted in a place that's degrading, with the worst conditions but the highest costs. Get a load of this article written by a liberal in "The Atlantic."

International Man: How have the policies the local politicians enacted led to these conditions?

Doug Casey: People who get into politics are generally narcissists. They're interested in popularity. Their priority isn't the good of society but self-aggrandizement. They don't create anything and can only take from some people and give to others. They do what's good for themselves, building their own brand names, hoping that successful manipulation of the hoi polloi will enable them to move from being a big shot in their municipality to a big shot in their county, then a big shot in their state, and finally making the big time in Washington DC. 

What's going on here? Why do people support their destroyers? How is it that, of all animals, only humans install the most venal and stupid as their leaders? There must be some basic flaw in humans that, at least when they're in a large enough group, causes them to act irrationally. Why else would people support the kind of people who want to be politicians?

It doesn't matter whether they're Democrats or Republicans. Although I've got to say that in many ways, I respect the Democrats more than the Republicans. That's because the Democrats, as bent as they are, at least have a philosophical center. They actually believe in some things—even if they're bad things. The Republicans, however, don't believe in anything—except that the Democrats are just moving too far and too fast towards statism and collectivism. That makes the so-called conservatives hypocrites, allowing the so-called liberals to masquerade as the party of principle.

Neither the Democrats nor the Republicans are worth the powder it would take to blow them to hell. As H.L. Mencken correctly said, politicians are America's only native criminal class. 

It's foolish and a moral, philosophical, and—usually—a practical mistake to support either of them. Both should be decried. Don't feed either Tweedledee or Tweedledum. They're the problem, not the solution. 

International Man: While New York saw the largest outflow of residents, Texas and Florida were among the top recipients of new residents.

What do you think the long-term impacts will be on these states, and what are the implications?

Doug Casey: There are two possibilities.

Many of the emigrants are so shallow and thoughtless that they don't realize that it was their own views and habits that destroyed the places they want to get out of. They're likely to take many of their stupid ideas and bad habits with them because they can't change their basic psyche. They can't reform their basic worldview. Most don't think logically about cause and effect.

But some may have been mugged enough by the reality that they've changed their views. Some are ethically upright but have just been buried in a negative environment. I have a number of AnCap friends who started out as Marxists. So there's always hope…

But my guess is that most of the people moving from New York and California to places like Texas and Florida are reasonably conservative, rational people. That's why they're moving. So most of them will actually reinforce and improve the situation in their new states. So it's cause for optimism. Perhaps it will lead to the secession of some regions.

A bigger problem is that the country, as a whole, still seems to be moving more statist. The Blue people—the socialist-leaning people—have control of the State apparatus most everywhere. And once they have control of the apparatus of the State, it's very hard to take it away from them.

Worse yet, as the economy goes into a real crisis with the Greater Depression deepening over the next few years, both the Red people and the Blue people will clamor for a man on a white horse who will claim to kiss everything and make it better—if he has enough power.

International Man: Many formerly prosperous US cities have degenerated into conditions more akin to an impoverished Third World country in certain areas. This trend shows no sign of reversing and seems to be accelerating.

What is the cause of this, and where is this all headed?

Doug Casey: As I've said many times in the past, science fiction is a better predictor than any think tank of what's likely to happen.

Let me draw your attention to the Kurt Russell movies Escape from New York and Escape from LA, showing how dystopian big cities can get. And the earlier Charles Heston/ Edward G. Robinson movie, Soylent Green. Could things get that bad? Yes, they could. The more advanced civilization gets, paradoxically, the more unstable it can become if the foundations aren't sound. We discussed why the foundation is crumbling in our last two conversations (link here and here)

Look at ancient Rome. It had a million or more people at the time of Caesar Augustus. But after the collapse of the empire, the population fell to perhaps 20,000 people during the dark ages that followed. Cows and goats grazed in the forum. The peasants disassembled Rome's buildings to have something better than straw shacks to live in.

Civilizations and cities have collapsed many times in the past 5000 years. It could happen to New York, Chicago, San Francisco, or the US itself—unless they radically change their policies. But, notwithstanding the recent recall of SF's disastrous district attorney, there's no indication that they will. In fact, most jurisdictions are raising taxes so the government can "do more." Which, of course, just makes things worse for the reasons we just discussed.

Take a look at Detroit. There are 20 and 30-story office buildings downtown with market values of only a few million dollars. During the 1950s, Detroit was the fourth-largest city in the country and one of the wealthiest.

How do we turn the situation around? It's not by voting. That just transfers power from Tweedle Dee to Tweedle Dum. But that doesn't mean you should be quiet and say or do nothing. For that reason, I try to speak out whenever I hear people saying things that are commonly accepted but destructive. 

In that regard, let me mention a club that I belong to here in Argentina. It's a group of American businessmen who get together for lunch every two weeks and talk about the world at large. 

At our last meeting, an American/Argentine dual citizen went on about how politicians ought to say this or not say that—whatever works—to get people to vote for them. Our James Carville lookalike tells politicians how to appeal to the masses. He particularly spoke out against Javier Milei, an AnCap who—rather improbably—has a serious chance of becoming the next president because he threatens to overthrow the country's totally corrupt Peronist/Kirchnerite system.

I couldn't let that pass and commented that not only is politics itself the problem, but the worst people go into politics. And those who instruct politicos on how to manipulate the hoi polloi are the worst of all. I took the opportunity to broach the thought that the State was their enemy, and its powers to tax, regulate, and inflate the currency should be ripped out by the roots, with Agent Orange poured on the ground they grew in. 

Will my words change anything? No. But I told them that these things need to be said. Otherwise, the enemy's victory is certain. We're fighting a psychological and philosophical war.

International Man: What is your advice to people considering moving to a new city, state, or country.

Doug Casey: Things will continue to deteriorate for the foreseeable future. Trends in motion tend to stay in motion, and this trend is still accelerating. Actual Jacobins and Bolsheviks will be running the US for at least another 30 months.

However, if you want to stay in the US and you live in a major city—it doesn't matter where—I would move to a rural area. People in rural areas are closer to the earth and reality. They have more traditional values and fewer bad habits. Their general worldview is more conservative. In big cities, it's always more liberal. Like tends to draw like. In cities, urban gangs may start taking over in "no go" zones.

Let me draw your attention to another seminal sci-fi movie from the early 1980s, The Warriors. You'll recall that New York seemed on the edge of collapse back then. One of the movie's subplots posited the gangs of New York uniting to take over the city and how they almost do it. It could happen.

There's every reason to move to a rural community. Costs are always much lower, while modern telecommunications, FedEx, Amazon, Walmart, and the rest of it give you all the material advantages of living in a big city with much less crime and fewer wokesters.

The only reason not to move to a small town is if you're still in your twenties or maybe thirties, unmarried, and want to be in the dating scene. Small rural towns aren't very active from that point of view. But otherwise, there's every reason to live in the countryside as opposed to the big city today.

If you're going to stay in the US, move out of the city, pick a nice small town, and beat the last-minute rush.

 

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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Europe Faces Its Worst Food Crisis In Decades

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The Food and Agriculture Organization (FAO) of the United Nations, headquarters located in Rome, was established in October 1945 by the United Nations assembly in the wake of World War 2. Its aim is to improve nutrition and living standards, agricultural productivity, and the conditions of farmers and make the best use of the world's food resources. It provides food and nutrition advice, technical assistance, and other support to people in need in both emergency and non-emergency situations.

During a meeting on 8th June 2022, FAO Director-General, Qu Dongyu, participated with dozens of ministers at the summit in Rome to tackle higher prices for food, fertilizer, and fuel. Acknowledging a “very complicated” global scenario, he urged countries in the Mediterranean to work together to mitigate food security risks that the war in Ukraine has further exacerbated. 

The Mediterranean Sea region includes 22 countries on three continents, each with diverse natural resources, agricultural traditions, and production potential. The Ministerial Mediterranean Dialogue on Food Crisis, an event convened by Italy’s Minister of Foreign Affairs, Luigi Di Maio, drew ministers and government participants from more than 24 countries.

 

Minister Luigi di Maio opened the Dialogue, noting that seldom has hunger had such a high profile on the public agenda and emphasizing the importance of sustainable agrifood systems.

Qu noted that,

“We must keep our global food trade system open and ensure that agrifood exports are not restricted or taxed.” 

Qu Dongyu outlined four major focal points across which cooperative efforts should be made: 

  1. More investment in countries that are severely affected by the current increase in food prices. 
  2. Reduction of food loss and waste. 
  3. Better and more efficient use of natural resources, especially water and fertilizer. 
  4. A focus on technological and social innovations that can significantly reduce market failures in agriculture.

“We are facing the worst food crisis in decades,” said Svenja Schulze, Germany’s Minister for Economic Cooperation and Development, who co-chaired the event.

Participants agreed that high prices for fertilizers and fuels, both critical agricultural inputs, are urgent matters for global food security.

 

European countries are now looking at options for compensation for individual industries, which have enormously high costs due to energy prices.

Before the war in Ukraine began, the European Union was an exporter of grain, like Ukraine and Russia. Export from Ukraine went mainly to the Middle East and North Africa. But that is likely to change now.

The Arab states now have grain stocks purchased, so prices would not have to go up again in the autumn. So far, the harvest looks good in the rest of Europe, but also in countries such as Australia and Canada.

Rising food prices could stabilize after this year's grain harvest, estimates the Food Chamber of the Czech Republic. According to her, current agricultural prices are speculative, with a good harvest, growth could calm down.

Following this, the prices of feed, flour and meat would no longer have to rise – however, food will not return to last year's values. "An absolutely crucial signal will be how this year's harvest ends, because prices now do not fully reflect reality," said Miroslav Koberna, director of the Chamber of Programming and Strategy of Czech Republic.

 

How Do Food Process Compare Across Europe?

Food prices are skyrocketing across Europe. In some countries, however, it does not burden people's wallets as much as in the Czech Republic. Experts say that this is due to higher incomes and different levels of food taxation.

In the Czech Republic, most foodstuffs are subject to 15% VAT. But some states are more lenient. For example, in Poland, several foods are not subject to VAT. They have a similar situation in Hungary.

For example, according to the so-called Big Mac index, the famous hamburger Big Mac earns the fastest in Luxembourg or Switzerland; it takes them about ten minutes. The longest then on one Big Mac they work in Ukraine, almost an hour. It'll take the Czechs about half an hour. 

 

Czech households spend 17.1% of their income on food, which is close to the European average. A quarter of the senior pension falls on basic foodstuffs in the Czech Republic. Comparing Czech food prices – in Italy are 22% more expensive. Lower prices of foods are in Bulgaria and Poland, about 20-25% more than in Czechia are the food prices in Greece, Austria, Italy or France.

In Czechia, the prices of foods in comparison to last year grow extremely. In May 2022  flour prices  accelerated to 64.6% year on year, for butter to about 52 %, for semi-skimmed long-life milk to about 42% and for eggs to about 34%.

 

        “Yellow prices” are reduced – very often quickly sold out

 

People in Ireland or Scandinavia spend the least on food. On the contrary, they pay the most for them in Romania and the Baltic states. In Germany the average income is about three times more than the Czechia, so of course Germans can afford to buy more food, says one Czech economist.

European countries are currently dealing with compensation options for individual sectors, which have enormously high costs due to energy prices.

 

Germany will pay about 32 million euro, Poland 800 000 euro and France will according to experts be the clear winner in the food industry due to its highest investments in rescuing processors. 

Food Inflation In Europe – The Numbers Say it All

This table shows the percentages of inflation in European countries – highest inflation in food prices has Moldova with 30.2%, second place is Lithuania with 24.8% and so on. Absolutely in the best situation is Switzerland with only 1.1% food inflation.

 

 

 

Source:

Ceskenoviny.cz

Idnes.cz

Fao.org

tradingeconomics.com

 

 

 

Tim Moseley

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Gold silver continue sell off amid strong greenback rising bond yields

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Gold, silver continue sell off amid strong greenback, rising bond yields

Gold and silver prices are solidly lower in midday U.S. trading Tuesday, with both metals notching four-week lows. A strong U.S. dollar index that this week hit a 20-year high and U.S. Treasury yields that this week hit multi-year highs are significantly bearish elements keeping the metals prices under selling pressure. Gold and silver bulls got no help from another hot U.S. inflation reading today. August gold futures were last down $19.60 at $1,812.10. July Comex silver futures were last down $0.400 at $20.855 an ounce.

Today’s U.S. producer price index report for May came in a up 10.8%, year-on-year and up 0.5% from April. Those numbers were close to market expectations and the markets showed no major reaction. But make no mistake: inflation in the U.S. and around the globe is running hot and is problematic. History shows problematic price inflation is longer-term bullish for hard assets, including the metals markets.

Global stock markets were mostly lower overnight. U.S. stock indexes mixed at midday. The U.S. stock indexes are in bear market territory, meaning they are down 20% or more from their highs. Despite today’s stabilization in the U.S. indexes, traders and investors see their risk appetites as far from robust.

The data point of the week is the Federal Reserve’s FOMC meeting that began Tuesday morning and ends Wednesday afternoon with a statement. The Fed is expected to raise U.S. interest rates by at least 0.5%. Some reckon the Fed may raise the key Fed funds rate by 0.75%. Fed Chairman Jerome Powell will hold a press conference after the FOMC meeting concludes Wednesday afternoon.

Markets in chaos: Gold price down $50, Bitcoin price hits lowest level since December 2020, stocks plunge

The key outside markets today see Nymex crude oil prices higher and trading around $122.25 a barrel. The U.S. dollar index is firmer in midday trading and not far below this week’s 20-year high. The yield on the 10-year U.S. Treasury note is fetching around 3.3%. Monday the 10-year note hit the highest level in 14 years, at 3.371%.

Crypto currencies remain under strong selling pressure again, with Bitcoin at a 1.5-year low.

Technically, the August gold futures bears have the firm overall near-term technical advantage. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at this week’s high of $1,882.50. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at the overnight high of $1,833.30 and then at $1,850.00. First support is seen at the overnight low of $1,809.20 and then at $1,800.00. Wyckoff's Market Rating: 2.5

July silver futures bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at the June high of $22.565 an ounce. The next downside price objective for the bears is closing prices below solid support at the May low of $20.42. First resistance is seen at today’s high of $21.36 and then at $21.75. Next support is seen at $20.42 and then at $20.00. Wyckoff's Market Rating: 2.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

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President Andrew Jackson and an Outrageous Crime Inflicted on the Next Generation

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President Andrew Jackson and an Outrageous Crime Inflicted on the Next Generation

by Nick Giambruno, contributor, International Man Communique

 

 

Jackson and Bank.png

 

With over $30 trillion in debt and counting, it’s hard to believe the United States government was ever debt-free.

But it happened once—in 1835—thanks to President Andrew Jackson. He was the first and only president to pay off the national debt completely.

One biographer says the former president viewed debt as a "moral failing," a sort of "black magic."

When he became president, Jackson was determined to rid the US of its national debt. After all, debt enslaves you to your creditors.

Jackson knew that being debt-free was essential to independence. This outlook resonated with many Americans back then.

With that in mind, Jackson attacked the institutions and powerful people who promoted and enabled the federal debt. This included the banking elites and the Second Bank of the United States, the country's central bank at the time and precursor to today's insidious Federal Reserve system.

While campaigning against the evils of national debt and central banking, Jackson miraculously survived an assassination attempt when an assassin’s two pistols both misfired. Shadowy interests tied to the central bank were almost certainly behind the effort.

However, Jackson survived and went on to "End the Fed" of his days. He successfully bested the central bank—and the powerful interests behind it—and shut down the Second Bank of the United States.

He also repaid the federal debt in full, which was no easy task.

Jackson couldn't squeeze the American people with a federal income tax to repay the debt. It didn’t exist at the time and would have been unconstitutional.

He also couldn’t simply print currency to pay off the debt. Perpetuating such an insane fraud—which the Fed does on a massive scale today—likely never entered his mind.

Instead, Jackson had to rely on tax revenue from other sources, mainly import tariffs and excise taxes, to pay down the debt. He also drastically cut federal spending and frequently vetoed spending bills.

Jackson's determination worked. By January 1835, the US was debt-free for the first time.

Unfortunately, it didn't last much more than a year. After that, the US would never again be debt-free—not even close.

 

Revenge of the Central Bankers

After Jackson succeeded in ending the Second Bank of the United States, anything associated with a central bank became deeply unpopular with the American public. So, central bank advocates tried a new branding strategy.

Rather than call their new central bank the "Third Bank of the United States," they went for a vague and boring name. They called it "the Federal Reserve" and managed to hide it from the average person in plain sight. As a result, over 100 years since its founding, most Americans have no idea what the Federal Reserve is or what it actually does.

Ironically, Jackson's face has been on the $20 "Federal Reserve Note" since 1928. So in a sense, this symbolic move is central banking advocates giving the middle finger to one of their most steadfast opponents.

After all, the Fed is really the "Third Bank of the United States." No doubt, Jackson would have been disturbed at having his face on its fake confetti money. 

In any case, most Americans today have no idea who Jackson is, what he did, or why he did it.

To the extent he is ever mentioned, the media, academia, and the rest of the establishment unjustly besmirch him as—you guessed it—a "racist."

That's exactly what the Deep State—the permanently entrenched bureaucracy—wants. It doesn't want the average citizen to understand why Jackson shut down the central bank and (temporarily) freed Americans from national debt bondage. Doing the same thing today would be a mortal threat to their power.

This is one of the reasons the establishment will try in the coming years to replace Jackson on the $20 bill with the more politically-correct Harriet Tubman… pushing Jackson further down the memory hole.

 

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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Gold suffers amid solid gains in USDX steep rise in US Treasury yields

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Gold suffers amid solid gains in USDX, steep rise in U.S. Treasury yields

Gold and silver prices are solidly lower in midday U.S. trading Monday, pressured by a U.S. dollar index that is solidly higher and trading near a 20-year high, and by sharply rising U.S. Treasury yields that are at multi-year highs. Gold prices did hit a five-week high overnight but those gains could not be held. August gold futures were last down $41.30 at $1,833.80. July Comex silver futures were last down $0.681 at $21.25 an ounce.

Global stock markets were mostly lower overnight. U.S. stock indexes are sharply lower at midday and hit new for-the-move lows. The Russia-Ukraine war and its economic implications, and problematic price inflation are weighing heavily on trader and investor sentiment to start the trading week. Add to that mix Covid lockdowns on the rise in China, the world’s second-largest economy and a major supplier of products around the globe. Don’t be surprised to see gold and silver bulls buy this dip amid the keener anxiety in the marketplace early this week.

The key outside markets today see Nymex crude oil prices firmer and trading around $121.50 a barrel. The U.S. dollar index is solidly higher and near a 20-year high. The yield on the 10-year U.S. Treasury note is fetching around 3.4%–the highest level in 14 years.

Crypto currencies are under strong selling pressure again to start the trading week.

The data point of the week is the Federal Reserve’s FOMC meeting that begins on Tuesday morning and ends Wednesday afternoon with a statement. The Fed is expected to raise U.S. interest rates by at least 0.5%. Fed Chairman Jerome Powell will hold a press conference after the FOMC meeting concludes Wednesday afternoon.

Entire financial system is 'a black hole,' crypto will become the dominant force – Garry Kasparov

Also to be monitored closely will be Tuesday’s U.S. producer price index report for May, which is seen up 0.8% from April and compares to April’s reading of up 0.5% from March.

There wase no major U.S. economic data released Monday.

Technically, the August gold futures bears have the overall near-term technical advantage and regained power today. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at the June high of $1,878.60. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00. First resistance is seen at $1,850.00 and then at $1,878.50. First support is seen at today’s low of $1,824.70 and then at $1,815.00. Wyckoff's Market Rating: 3.0

July silver futures bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $23.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the May low of $20.42. First resistance is seen at $22.00 and then at $22.25. Next support is seen at today’s low of $20.91 and then at $20.42. Wyckoff's Market Rating: 2.0.
 

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

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Are You Ready For The Next Gold Rush?

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Are You Ready For The Next Gold Rush?

by Luke Lango, editor, Hypergrowth Investing

 

Are You Ready For The Next Gold Rush?

 

Don't Try To Do The Impossible

During periods of elevated market volatility – such as the one we’re seeing right now – just do one thing: Focus On The Big Picture.

The simple reality, folks, is that it is nearly impossible to predict with any great certainty what’s going to happen over the short term. Inflation could keep rising. Or it may start decelerating. The Fed may hike rates 10 times. Or they may make a U-turn in the summer. Russia may try to invade mainland Europe. Or they may stop the fighting altogether.

There’s a lot of uncertainty out there right now. So, let’s do ourselves a favor and stop trying to do the impossible in predicting how all of those risk factors will play out.

Instead, let’s do something much easier. Let’s take a deep breath. Let’s zoom out. Let’s look at the big picture. And let’s realize that while today’s macroeconomic and geopolitical risks may seem like world-enders, they are not. Just like no macroeconomic risk or geopolitical risk before them was a world-ender.

COVID-19? The world kept turning. Great Financial Crisis? The world kept turning. Dot-Com Crash? The world kept turning.

Lather. Rinse. Repeat. In the big picture, the world, the U.S. economy, the stock market, and humankind generally have a multi-century track record of trumping crisis, after crisis, after crisis, after crisis.

That’s The Big Picture

Keep that in mind while stocks throw a little temper tantrum here. Because, in doing so, you’ll realize that what you should be doing amid this market meltdown is simply focusing on the long-term technological trends reshaping our world.

I’m talking artificial intelligence, electric vehicles, digital advertising and shopping, robotics, and more. Those trends are not going to be derailed, stopped, or even slowed all that much by what’s going on in the market today.

Just like computers weren’t stopped by Black Monday. Just like the internet wasn’t stopped by the dot-com crash. Just like cloud computing wasn’t stopped by the financial crisis.

Ultimately, world-changing trends always end up changing the world – regardless of what happens in the near term. All that is really a long-winded way of saying that the best investment strategy at the current moment is to ignore the noise and focus on the long-term megatrends reshaping our lives. Today the best such megatrend is… the "Battery Gold Rush."

 

Batteries Are Everything These Days

When you sit back and really think about it, pretty much every technological megatrend out there requires batteries to power it. Electric vehicles? They run on lithium-ion batteries. Energy storage systems? They, too, run on batteries. Artificial intelligence? Built on software, which is run on computers, which are powered by… you guessed it… batteries.

What about smartphones? VR headsets? Charging stations? All those end markets need batteries, too. Morgan Stanley aptly summed it up in a research note just a few weeks back by saying:

“We need batteries. Literally everywhere.”

The world is about to embark upon a battery infrastructure spending boom over the next decade so that countries and companies can produce enough batteries to power these tech megatrends.
Batteries will be the epicenter of our tech-dominated future. Demand for them is going to increase at exponential rates in the 2020s.

But there is not an infinite supply of batteries. If anything, we have a supply shortage today. Therefore, there is going to be a battery spending boom over the next decade, wherein companies all along the battery manufacturing supply chain will make a lot of money.

It Will Be A Battery Gold Rush

The “holy grail” of the coming “Battery Gold Rush” will be a special type of battery that I like to call a forever battery. And it’s going to change the world as we know it. To understand why we need to take a quick trip back to chemistry class…

Batteries comprise three things: a cathode, an anode, and an electrolyte. Batteries work by promoting the flow of ions between the cathode and anode through the electrolyte:

Conventional lithium-ion batteries are built on liquid battery chemistry. That is, they comprise a solid cathode and anode, with a liquid electrolyte solution connecting the two. These batteries have worked wonders for years. But, due to the physical constraints of dealing with a liquid electrolyte, they are now reaching their limit in terms of energy cell density. This basically means that if we want our phones, watches, and electric cars to last longer and charge faster, we need a fundamentally different battery.

Insert The Solid-State Battery

With solid-state batteries, the name pretty much says it all. Take the liquid electrolyte solution in conventional batteries. Compress it into a solid. Create a small, hyper-compact solid battery that – because it has zero wasted space – lasts far longer and charges far faster.

The implications of solid-state battery chemistry are huge. Solid-state batteries could be the key to making our phones sustain power for days… enabling our smartwatches to fully charge in seconds… and, yes, allowing electric cars to drive for thousands of miles without needing to recharge.

That’s why insiders dub solid-state batteries “forever batteries ” — and it is why these 'forever batteries' are the holy grail of the Battery Gold Rush. Competitive advantages in the 2020s will be gained by companies using the best batteries. The better the battery, the better the performance of an electric vehicle, phone, energy storage system, and more.

Therefore, there won’t be any rush for old-school batteries built on old tech. But there will be an unprecedented mad dash for these solid-state batteries. Said differently, the Battery Gold Rush of the 2020s will be focused on solid-state batteries.

The Battery Gold Rush was always going to happen. But recent developments – specifically, Russia’s invasion of Ukraine unearthing the supply and price fragility of a fossil fuel energy system – have accelerated and enhanced it.

The Battery Gold Rush isn’t something that is going to happen in two, three or five years – it’s happening right now. And it will change the rules of the global economy over the next 12 months.

 

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

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Tim Moseley

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Gold is great but it’s not Bitcoin -Edward Snowden talks independent money

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Gold is great, but it's not Bitcoin – Edward Snowden talks independent money

Gold is Bitcoin without the Internet option, said Edward Snowden, whistleblower and president of the Freedom of the Press Foundation. He also sees the financialization hype dividing the crypto space, advising people to use cryptocurrencies instead of investing in them.

At the Consensus 2022 conference in Austin, Snowden stressed the need for an independent form of finance, which is how gold came up.

"Gold is great, but gold is not portable. Gold is not transmissible beyond borders at the tap of a button. But Bitcoin and crypto, more broadly, are. That is an astonishing thing. It gives us an indication of the power of how the world can be changed," he said virtually on Saturday. "We have too many currencies that are too unreliable. And that's what crypto beginning to address. We are seeing the transformation of cryptocurrencies moving to cryptographic monetary instruments."

The problem crypto is attempting to solve deals with the existing system being fundamentally unfair, Snowden said. "Look at the economy. There is an increasing concentration of recourses in fewer hands. We see this financialization creeping into the crypto ecosystem."

Snowden criticized the crypto industry for letting the financial aspect drive evolution of the space. "Everyone in crypto is fragmenting into tribes because of the financialization of cryptocurrency, they are more about making money," he said.

Snowden's fear when it comes to privacy is identity and money being used against the population. "I am worried about the world in which identity is used against us; our money is used against us. We need free money – in the independence sense."

Snowden once again reiterated that Bitcoin is not private, and that is a failure as an electronic cash system. In the past, Snowden has cited his concerns with this, saying that Bitcoin has a public ledger, not an anonymous ledger.

By Anna Golubova

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

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The Bitcoin Law Announcement Was A Special Day In History

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The Bitcoin Law Announcement Was A Special Day In History

by Bap 

 

Jack Mallers announcing Bukele’s Bitcoin Law was a momentous occasion in history, not only for Bitcoin and El Salvador, but for the entire world.

It was June 2021 in Miami. Thinking back to that day, I recall the crowds and lines: It was a hot summer afternoon, the first Bitcoin event I’d attended, and one of the first outings I’d been to in over a year following the pandemic. To say that I was uncomfortable, both socially and physically, was an understatement. If that’s not enough, the adrenaline was hitting me from sneaking by the security guards who were removing those standing in the hallways and fire exits. There were basically people crowding on top of one another to get in — maybe they were just trying to get in the air conditioner, I don't know — but I do believe this was ground zero for a new BTC variant. This made it all the more special after I got through.

That’s because this was not a normal announcement full of press releases, fancy buzzwords and logos. It was a memory filled with emotion, energy and excitement — hope was in the air. After leaving that room, I really felt optimistic about the future of Bitcoin, El Salvador and the world. Jack Mallers went way over time too. He was so emotional that he could barely get his words out, and I remember really feeling his care and concern when he talked about his time in El Salvador. It was infectious.

That was a big day in history for Bitcoin. Not that Bitcoin needs governments to adopt it, but I do believe that the sooner governments adopt it, the sooner we can switch to a sound money system and the more peaceful and harmonious the transition will be. This will be marked in history, and in my mind, as the day that nation-state game theory began. As Mallers, the chess man, says, it's a “pawn to E4 moment.”

Before 2021, it was only speculation that governments would adopt bitcoin. Us Bitcoiners knew the game theory would make it happen eventually, but it all became real with the Bitcoin Law from El Salvador and its proposed status as legal tender. To put it in perspective, the only thing I knew about El Salvador before the announcement was the significant gang violence and high crime rates from a Vice documentary, and I’d seen pictures of the stunning beaches. That changed after the announcement, as I took a deep dive into the country and its history. It really had me start questioning who was developing my perspectives: the media or me. I'm glad to say that I now understand a lot more clearly about how Bitcoin first helps those who need help the most.

As I think back on the announcement one year later, I realize that perhaps everything is unfolding exactly how it's supposed to. I pause and reflect on the current frustration with my peers and the media in the United States and their resistance to Bitcoin, but now I see they'll be adopting later — because they don't need bitcoin just yet. This has been a big shock for me and really opened my eyes to a lot of differences in cultures around the world, and one of the most important points about Bitcoin: It’s for everyone. Thanks to Jack Mallers, President Bukele and the nation of El Salvador for pushing forward the goal of Bitcoin for all.

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Tim Moseley

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Linden Tree Symbol Of Health And Peace

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Linden Tree Symbol Of Health And Peace

 

Linden trees have a long history of being cultivated for their therapeutic properties. In fact, the linden tree has been recognized as a symbol of health and peace for thousands of years. Throughout the ages, linden tree symbolism has been associated with a wide range of positive traits and qualities. In many cultures, the linden tree has been viewed as a potent charm against evil.

Tilia cordata, the small-leaved lime or small-leaved linden, is a species of tree in the family Malvaceae, native to much of Europe. Other common names include little-leaf or littleleaf linden, or traditionally in South East England, pry or pry tree. Its range extends from Britain through mainland Europe to the Caucasus and western Asia. In the south of its range, it is restricted to high elevations.

In the countries of Central, Southern and Western Europe, linden flowers are a traditional herbal remedy made into an herbal tea called lime tea or linden tea in Britain, tilleul in France.

Tilia cordata is the national tree of the Czech Republic and the Slovak Republic, and one of two national trees in Latvia. The leaf of Tilia cordata is also considered a national symbol of Slovenia.

 

As a drug, the flower is also taken with the leaf (Flos tiliae). It is collected even before full flowering, since there should not be fruits in it. The torn flowers are dried and used for the preparation of lime tea or combined medicinal mixtures. 

When collecting it is necessary to beware of confusion with linden silver or linden American, whose flowers do not have the desired effects. It is not a problem to confuse it with the greater linden or its hybrid with the lesser linden.

Linden trees  grow from 20 to 40 meters in height and live at least 200 years.

 

Healing properties

It promotes sweating, has diuretic effect, treats colds, bronchitis, cough, congestion, and works as an effective antipyretic. It has a beneficial effect in diseases of the digestive and urinary systems, mild insomnia, neurosis and hysteria, and strengthens blood clotting.

Contraindication

Lime blossom is not associated with any contraindications, it is often recommended as a drinking tea, so it can be drunk continuously. Linden is just that herb , the effect of which is enhanced by long-term drinking. Tea from Linden is not given only in case of an allergy to linden blossom.

 

 

case of an allergy to linden blossom.

 

Linden Ointment

  • 2 handfuls of lime blossom 
  • 200 g of coconut oil 
  • 30 g of beeswax

Preparation

Add the lime blossom to the coconut oil, macerate, and heat occasionally. Let it stand for five days, then warm the mixture a final time. Strain the oil, and add pieces of beeswax into the warm oil and let them dissolve. Fill the prepared jars with the oil immediately.

Linden Decoction

Decoction of Linden is suitable for both adults and children and has proven to be very effective with viruses. Linden leaves are also recommended for people with sedentary work, who suffer, for example, swollen ankles or fingers on their hands. 

Decoction is also an assistant for people tired of work or raising children. Last but not least, the decoction of the leaves will be liked by overworked and mentally exhausted people who sleep poorly.

Combination With Other Herbs

You can combine Linden leaves with other herbs to enhance their effects. They get along well with chamomile, lemon balm and black elderberry. Linden with chamomile or lemon balm can calm the mind, and Linden with black elderberry facilitates expectoration.

 

                                  Spread of Linden in Europe and Asia

 

Tree Suitable Not Only For Healing

The healing properties of Linden are not the only use of this beautiful tree. It is commonly seen in parks and gardens to create shade. Linden is a widely used tree in many industries. It is purposefully planted for quality wood, which is popular among carvers and carpenters. 

 

The Linden tree is used, among other things, in the manufacture of musical instruments, furniture, as a raw material for the production of charcoal and animal charcoal (Carbo medicinalis). Lime bark is widely used in footwear, basketry and rope making.

Linden is richly mentioned in history as an ornamental tree with a significant symbolic meaning. In the US, the Linden during the 17th and 18th century, became an important part of building planning. 

A similar example can be found in Berlin (boulevard Unter den Linden). In the dark European Middle Ages, Linden was used to make weapons (see Beowulf). Linden is the National Tree of the Czech Republic, but also of Slovakia. Slovenians consider the leaf of the Linden heart as one of their national symbols.

 

In the old Slavic culture, Linden was a sacred tree and was identified with the goddess of love and beauty named Lada. 

A Symbol Of Protection

Have you ever wondered why Linden is the Czech national tree? Linden has become a symbol of protection, help and love for its fragrance, charming crown and kind shade. People believed that he could drive away evil spirits and with his energy, rid a person of gloomy thoughts.

Everything culminated at the All-Slavic Congress in Prague in 1848, where Linden became the tree of the Slavs and officially since then, the Czechs have also considered it their national tree.

Lindens have also been associated with justice and the life force of our country since ancient times. Lindens transmit this power in a calm and healing way. In many tribal areas of our ancestors, not only the Slavs and Germans, Linden was a center for meeting and resolving disputes leading to just punishment. 

 

Whenever it came to finding the truth in legal disputes, people gathered under the linden tree. They say that under it the pure truth will come to light, that its fragrance will tune the judge mercifully, and the quarreled parties will reconcile.

 

Linden in Glucholazy

Tree Of Peace

Glucholazy is a Polish town near to border of Czech Republic. This tree was probably planted after 1648 to commemorate the end of the thirty years ' war, which devastated parts of central Europe, including Silesia, as a Tree of Peace ("fridenslinde" – "Linden of peace"). 

Studies conducted several years ago allow, with a high probability, to assume that the deaf-mute monument of nature is indeed a "Linden of peace". Linden was mentioned already in antique times  in works, for example, by Vergilius, Ovidius and Plinius, calling it the "golden tree".

 

“There are trees that you will remember for the rest of your life as some human faces;

there are trees that are almost holy.” 

                                                                             Karel Čapek  (Czech writer)

 

Just in this period of year linden trees are smelling of reconciliation and peace.

 

                                                                                                                              Margaret

Source:

celostnimedicina.cz

Salviaparadise.cz

Botanic.cz

 

 

 

Tim Moseley

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What Is Solana? And More Importantly How Does It Work?

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What Is Solana? And More Importantly, How Does It Work?

 

Have you heard of the term Solana, and wondered what it might be? Discover the Solana Blockchain and how its unique technology works in more detail.

Cryptocurrencies marked the beginning of an entirely new era for finance and technology. The crypto sector has taken away intermediaries from the structure of conventional financial services by introducing peer-to-peer transactions. However, established cryptocurrencies such as Bitcoin and Ethereum have significant limitations in terms of scalability. Why? It is challenging to scale up the time required to reach a consensus on a specific order of transactions. 

Due to scalability problems, alternatives like Solana have emerged as promising solutions for such issues. Now, you might marvel at how the new cryptocurrency company could solve problems that the crypto pioneers could not. Let us dive deeply into the Solana blockchain and learn more about their system. This article will also help you discover the new and unique features introduced with the Solana Blockchain.

Image courtesy of Medium

Solana: What Is It?

Solana is a new blockchain platform with a unique consensus mechanism called Proof of History (PoH). Proof of History allows Solana to achieve a sustained transaction rate of up to 65,000 transactions per second, much faster than Bitcoin and Ethereum. Solana’s programming language is similar to JavaScript and allows developers to build smart contracts with ease. 

The platform comprises three layers: the Protocol Layer, the Transaction Layer, and the Application Layer. The Protocol Layer is the Solana Blockchain's core, providing a framework for the rest of the platform. The Transaction Layer is the foundation for executing transactions and is made up of blocks. The Application Layer is where developers can create applications that use the protocol. 

Solana’s blockchain is built to solve many of the problems other blockchains face. For example, Solana doesn’t have any hard-coded limits for gas prices or gas limits, which can lead to users running out of gas and failing to complete their transactions. This has happened to users on Ethereum in the past, which has caused many issues for them. Solana’s Proof of History consensus mechanism also makes it possible for users to complete transactions quickly and reliably.

Who Are The Developers Of Solana?

Solana is the brainchild of a group of developers and entrepreneurs who saw an opportunity to create a more efficient and secure form of blockchain technology. CEO Anatoly Yakovenko leads the team, and CTO Greg Fitzgerald, have both had extensive experience in the blockchain industry.

The team strongly believes in the potential of blockchain technology and is committed to using it to create a more equitable and secure world. They are also passionate about creating a product that can be used for trading digital assets and as a daily tool for consumers and merchants alike. 

This is a platform with genuine utility and value-added features such as a decentralized marketplace, exchange, and payment system. Users will benefit from increased security, transparency, and efficiency when purchasing online or at brick-and-mortar stores and shops worldwide. 

A truly global and unified currency system, enabling anyone anywhere to trade directly and instantly with other people within their community or across borders without any middlemen.

Solana's Key Innovation: Proof-of-Elapsed-Time

Proof-of-elapsed-time is the key innovation of Solana, which allows nodes to verify data without having to trust one another or confirm transactions through expensive intermediaries like banks. Instead, Solana's peer-to-peer network eliminates these middlemen and ensures that data that several parties in real-time have approved is valid. 

The proof-of-elapsed-time is implemented using an optional consensus mechanism called  "Tick Time Consensus" or TICK which relies on a timestamping system to establish the elapsed time since the last successful transaction (TICK_TIME). 

It was initially developed to improve privacy for the Bitcoin blockchain. However, it has since been adapted for use with any decentralized application platform such as Ethereum, Hyperledger Fabric, or even DFINITY.

So far, the network has been deployed in dozens of decentralized applications and has become the industry standard for distributed computing applications.

How Does Solana Deliver Scalability?

Solana delivers scalability using a unique combination of proof of stake and Byzantine Fault Tolerance. Proof of stake is a consensus algorithm that helps secure the blockchain by allowing stakeholders to vote on proposed blocks. This system is more efficient and environmentally friendly than proof of work and allows for faster transaction speeds.

Byzantine Fault Tolerance is a system that allows nodes in a network to agree on the validity of transactions without any single node being able to manipulate the system or change data on the blockchain because of malicious behavior or malfunctioning components. This ensures trustless networks and high availability with no downtime, censorship, or fraud as long as there are honest majority participants in the network.

When it comes to scaling, proof of stake can be used as an effective method of achieving fast confirmation times for smart contracts while avoiding the use of expensive hardware and energy consumption to validate blockchains.

Solana's Core Components

Image courtesy of Medium

For Solana to achieve all its goals, the developers have developed the essential technical components to make the blockchain suitable for the capabilities of a centralized system. As a result, the network is full of several kinds of systems, and these systems work together to create a useful and reliable blockchain network. Here are the core components of Solana Blockchain:

  • Proof of History
  • Tower BFT 
  • Gulf Stream 
  • Sealevel
  • Pipelining
  • Turbine
  • Cloud break
  • Archivers

Proof of History (PoH)

The important and key feature is that the PoH mechanism serves a vital role in the Solana blockchain. It creates more efficiency and a greater throughput rate within the network. This protocol improves the efficiency of blockchain by integrating timestamps in every transaction approval. So, historical records of transactions, blocks, etc., are stored on a distributed ledger which can be used for the security and verifiability of any smart contract or transaction that has been approved with the PoH function and time-stamp verification feature in the blockchain.

Tower BFT

The Tower BFT is the second and most crucial component of Solana Blockchain, and the system strengthens network responsiveness by empowering validators to vote on the state of the ledger. This mechanism also records the previous votes and the time stamp of each transaction, ensuring that the data cannot be altered later on (data integrity).

Gulf Stream

The gulf stream feature works with the mempool concept. You might be thinking about what mempool is. Mempool is a part of the blockchain that stores all transactions from previous blocks and is used to add new transactions to the blockchain.  

This is much like how banks use their vaults to store your money as it comes in and goes out of your bank account without losing it permanently, just temporarily stored in the vault. The same thing happens here; when money goes into a new transaction, it gets recorded on the blockchain forever to show where it came from and where it went.

Sealevel

The Sealevel feature provides a significant benefit over the most well-known smart contract-based networks out there today. This is used to perform smart contracts that can operate in parallel, and this system likewise allows compatible smart contracts to leverage the same protocols. 

As such, it permits easy interoperability with other blockchains, especially those that don’t have their custom-built systems or protocol layer for smart contracts, allowing the user to connect with them instead of learning entirely new technology and infrastructure. This helps users to start working on a project together and interact with each other more easily and efficiently than ever before.

Pipelining

The Solana Blockchain is an open-source hardware system that integrates a transaction processing unit called pipelining. The protocol works by processing the transactions in batches instead of one by one using the pipelined operation mode. It minimizes latency and increases throughput on a single machine/hardware platform running Solana Blockchain software or node application code, increasing overall network bandwidth and stability of the network and its applications (blockchain).

Turbines

The turbine is another blockchain feature introduced by Solana. The Solana blockchain distributed system takes massive data and segments it into smaller chunks, and this data can be sent to the computer faster and use less bandwidth.

Cloudbreak

The cloudbreak is another Solana network’s account database, and this system enhances iterations by enabling the system to read and write data simultaneously. Cloudbreak works in line with pipelining and other protocols.

Archivers

Archivers represent a group of nodes that are interconnected in a system outside the main Solana network and work as storage for Solana.

This means that if a node joins a network, it will not be able to join the Archiver network until it has been synced from one of the Archiver nodes or has its Archiver node created by another node in the main Solana network.

The reason is that nodes in the archiver network do not store any data; rather they only provide a connection between other nodes in the main network with each other to facilitate transactions without the need to transmit all the data over the network and increase transaction speeds.

What Is The Future Of Solana?

Solana is undoubtedly a new type of blockchain that can handle large amounts of transactions without ever clogging up the system. What does that mean for the future of Solana? It means that Solana has the potential to handle the load that traditional blockchains are not able to. 

Think about it this way: right now, Bitcoin can only manage seven transactions per second, and Ethereum can only manage fifteen. Solana has the potential to manage up to sixty-five thousand transactions per second. 

That's huge compared to the many transactions like Bitcoin and Ethereum execute altogether in a second. This makes Solana one of the most promising next-gen blockchain projects, with tremendous upside potential for those who invest in Solana early enough.

Conclusion

The Solana blockchain protocol is designed for scalability. It achieves scalability by implementing a proof of stake algorithm and by utilizing a revolutionary decentralized data storage technology known as Inter-Blockchain Communication (IBC). IBC allows the nodes to communicate directly with each other without going through the network’s primary layer or any intermediary node on the blockchain network. 

The complete process happens via the IBC channel between two blockchains in real-time, allowing transactions to be processed almost instantly instead of waiting for blocks to be mined and confirmed on the network’s main chain first before moving forward with the transaction or block execution.

 

 

References:

Medium

Hashnode
 

 

 

Tim Moseley

The Artist that came out of the Winter