Gold silver boosted on notions Fed tightening cycle near an end

Gold, silver boosted on notions Fed tightening cycle near an end

Gold prices are modestly up and hit a three-week high, while silver prices sharply up and hit two-month high in midday U.S. trading Thursday. Another tame U.S. inflation report today has the marketplace thinking the Federal Reserve is likely nearer the end of its interest-rate-hiking cycle. That's bullish for commodity markets, including the metals. August gold was last up $3.30 at $1,965.00 and September silver was up $0.64 at $24.955.

The marketplace is basking in the glow of tame U.S. inflation reports that came out Wednesday and Thursday mornings. Today's producer price index for June also came in slightly lower than expected, following Wednesday tamer consumer price index for June.

Said analyst Nigel Green of the deVere Group: "The U.S. is now likely to pull off the perfect "soft landing,' with the world's largest economy avoiding a recession as the latest inflation data comes in cooler than expected. The U.S. CPI data raises hopes that the Federal Reserve is going to be able to bring down inflation without steering the U.S. economy into a recession. The battle on rising prices is being won, as the data suggests, meaning the pressure is off the Fed for future rate hikes. Cooling inflation and a strong and resilient labor market suggest that no recession will come in 2023.” That's a bullish scenario for commodity markets, suggesting better demand in the coming months.

Asian and European stock markets were mixed to firmer in overnight trading. U.S. stock indexes are firmer at midday.

In overnight news, China's exports in June fell a worse-than-expected 12.4%, year-on-year, following a drop of 7.5% reported in May. Imports in June dropped a worse-than-expected 6.8%, year-on-year. That dour news from the world's second-largest economy did not put a damper on raw commodity markets today, but it may in the near term.

  Silver prices are up 4%; Is this the start of the rally? TD Securities says it is still three months away

The key outside markets today see the U.S. dollar index solidly lower and hitting a 15-month low. That's bullish for the raw commodity sector, as most raw commodities on world trade markets are priced in U.S. dollars. The weaker USDX makes those commodities less expensive to purchase in non-U.S. currency. Meantime, Nymex crude oil prices are slightly up and trading around $76.00 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching around 3.8%.

Technically, August gold futures prices hit a three-week high again today. Bulls and bears are on a level overall near-term technical playing field but the bulls have momentum. A nine-week-old downtrend on the daily bar chart has been negated and prices are now in a fledgling uptrend. Bulls' next upside price objective is to produce a close above solid resistance at $2,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the June low of $1,900.60. First resistance is seen at $1,975.00 and then at $1,985.00. First support is seen at $1,950.00 and then at Wednesday's low of $1,937.50. Wyckoff's Market Rating: 5.0.

September silver futures prices hit a two-month high today. The silver bulls have the overall near-term technical advantage and have momentum. A three-week-old price uptrend is in place on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at the April high of $26.645. The next downside price objective for the bears is closing prices below solid support at $23.00. First resistance is seen at $25.00 and then at $25.50. Next support is seen at $24.50 and then at today's low of $24.31. Wyckoff's Market Rating: 6.5.

September N.Y. copper closed up 900 points at 394.30 cents today. Prices closed near the session high and closed at a 2.5-month high close today. The copper bulls have gained the slight overall near-term technical advantage. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the April high of 418.25 cents. The next downside price objective for the bears is closing prices below solid technical support at 368.30 cents. First resistance is seen at the June high of 396.40 cents and then at 400.00 cents. First support is seen at today's low of 384.20 cents and then at this week's low of 374.25 cents. Wyckoff's Market Rating: 5.5.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Bitcoin’s Time to Shine: BRICS Nations Plan to Replace US Dollar with Gold-Backed Trading Currency Fueling Bitcoin’s Potential

Bitcoin’s Time to Shine: BRICS Nations Plan to Replace US Dollar with Gold-Backed Trading Currency, Fueling Bitcoin’s Potential

By GODFREY BENJAMIN — 11 July 2023

Bitcoin's Time to Shine

  • Members of the BRICS alliance are set to introduce a Gold-backed token as alternative to the US Dollar.
  • The move from these alliance can have a significant upside for Bitcoin.

Countries within the BRICS alliance (Brazil, Russia, India, China, and South Africa) are planning the release of a gold-backed digital currency that could contest the dominance of the United States dollar in global settlements.

The launch is expected to be unveiled during the 15th BRICS Summit in Johannesburg, South Africa which is to be held in August. The initiative has received support from many other countries that are interested in joining the economic alliance.

Precisely, the Russian Embassy in Kenya has equally released a tweet to promote the new development. The initiative is also supported by Alexander Babakov, Deputy Chairman of the State Duma who recently highlighted the practical and promising nature of digital payments.

For a long time and across many nations, there has been a strong motivation to dethrone the U.S. dollar in global markets. The fear of weaponization through the imposition of sanctions has made many nations quite resentful towards the dollar.

This Dollar antagonism gave rise to a renewed pursuit by members of the BRICS alliance to find alternative options for cross-border payments which would mitigate the effect of such sanctions. Leslie Maasdrop, the Vice President of the New Development Bank pointed out that the BRICS alliance is made up of countries that each have emerging markets that have different economies with very unique features.

Ultimately, member nations of the BRICS are pushing efforts to boost their financial sovereignty and insulate themselves from the impact of Western sanctions.

Article written by Godfrey Benjamin, and posted on the Crypto News Flash.

Article reposted on Markethive by Jeffrey Sloe

Tim Moseley

Gold silver see strong rallies after tamer US inflation report

Gold, silver see strong rallies after tamer U.S. inflation report

Gold and silver prices are sharply up, nearer their daily highs and hit three-week peaks Wednesday, in the aftermath of a morning U.S. inflation report that came in a bit tamer than market expectations.August gold was last up $24.60 at $1,961.70 and September silver was up $1.014 at $24.295.

The U.S. data point of the week saw the consumer price index report for June come in up 3.0%, year-on-year, which is slightly lower than the expected rise of 3.1% and compares to the gain of 4.0% in the May report. The "core" CPI, which excludes food and energy, came in at up 4.8%, year-on-year, compared with expectations of up 5.0%. These numbers fall into the camp of the monetary policy doves, who want to see the Federal Reserve continue to stand pat on interest rate levels.

The U.S. dollar index sold off sharply, stock indexes rallied and U.S. Treasury yields dropped following the upbeat CPI data.

  How to trade spot Bitcoin ETF: Lessons learned from gold ETFs – Florian Grummes

The key outside markets today see the U.S. dollar index solidly lower and hitting a two-month low. Nymex crude oil prices are higher and trading around $75.50 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.859%–well down from overnight levels.

Technically, August gold futures prices hit a three-week high today. Bulls and bears are back on a level overall near-term technical playing field but the bulls have momentum. A nine-week-old downtrend on the daily bar chart has been negated. Bulls' next upside price objective is to produce a close above solid resistance at $2,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the June low of $1,900.60. First resistance is seen at today's high of $1,963.60 and then at $1,975.00. First support is seen at $1,950.00 and then at today's low of $1,937.50. Wyckoff's Market Rating: 5.0.

September silver futures prices hit a three-week high today. The silver bulls have gained the slight overall near-term technical advantage. A nine-week-old price downtrend on the daily bar chart has been negated. Silver bulls' next upside price objective is closing prices above solid technical resistance at $25.00. The next downside price objective for the bears is closing prices below solid support at the June low of $22.34. First resistance is seen at $24.50 and then at the June high of $24.835. Next support is seen at $24.00 and then at $23.50. Wyckoff's Market Rating: 5.5.

September N.Y. copper closed up 860 points at 385.20 cents today. Prices closed nearer the session high and hit a two-week high on short covering. The copper bears still have the overall near-term technical advantage. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the June high of 396.40 cents. The next downside price objective for the bears is closing prices below solid technical support at 368.30 cents. First resistance is seen at today's high of 386.05 cents and then at 390.00 cents. First support is seen at 380.00 cents and then at this week's low of 374.25 cents. Wyckoff's Market Rating: 4.0.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Gold firmer key US inflation report on deck

Gold firmer; key U.S. inflation report on deck

Gold is higher and silver is slightly lower in midday U.S. trading Tuesday. Gold is supported by bullish daily outside market forces that see the U.S. dollar index a bit weaker, crude oil prices higher and U.S. Treasury yields down a bit. Trading action was more subdued today ahead of a major U.S. inflation report out Wednesday morning. August gold was last up $7.20 at $1,938.10 and September silver was down $0.02 at $23.325.

Trading so far this week has been quieter ahead of the U.S. data point of the week: Wednesday morning’s consumer price index report for June, which is expected to come in at up 5.0%, year-on-year, compared to a gain of 5.3% in the May report. Trading action in many financial markets, as well as the precious metals, may heat up in the wake of the CPI report, especially if it’s a miss from market expectations.

  Gold prices can still push to record highs at $2,100 an ounce by the end of the year – MKS' Shiels

The key outside markets today see the U.S. dollar index slightly lower. Nymex crude oil prices are up and trading around $74.75 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.988%.

Technically, August gold futures were up $6.50 at $1,937.30 in afternoon trading and near mid-range. Bears have the overall near-term technical advantage. Prices are in a nine-week-old downtrend on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $1,975.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the February low of $1,846.80. First resistance is seen at today’s high of $1,944.50 and then at $1,950.00. First support is seen at today’s low of $1,929.80 and then at this week’s low of $1,918.00. Wyckoff's Market Rating: 4.0.

September silver futures were down $0.035 at $23.31 at midday and nearer the session low. Prices hit a three-week high early on today. The silver bears have the slight overall near-term technical advantage. However, a nine-week-old price downtrend on the daily bar chart has been negated. Silver bulls' next upside price objective is closing prices above solid technical resistance at the June high of $24.835. The next downside price objective for the bears is closing prices below solid support at the June low of $22.34. First resistance is seen at today’s high of $23.595 and then at $24.00. Next support is seen at $23.00 and then at last week’s low of $22.72. Wyckoff's Market Rating: 4.5.

September N.Y. copper closed down 230 points at 376.15 cents today. Prices closed nearer the session low. The copper bears have the overall near-term technical advantage. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the June high of 396.40 cents. The next downside price objective for the bears is closing prices below solid technical support at the May low of 356.50 cents. First resistance is seen at today’s high of 382.25 cents and then at 385.00 cents. First support is seen at last week’s low of 372.25 cents and then at 368.30 cents. Wyckoff's Market Rating: 3.0.

By

Jim Wyckoff

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Gold prices can still push to record highs at 2100 an ounce by the end of the year – MKS’ Shiels

Gold prices can still push to record highs at $2,100 an ounce by the end of the year – MKS' Shiels

Gold prices have room to move lower and retest support below $1,900 an ounce in the early part of the second half of the year; however, that doesn't mean investors should give up on gold, according to one market analyst.

In her mid-year outlook, published last week, Nicky Shiels, metals strategist at MKS PAMP, said that she is maintaining her 2023 year-end price average of $1,930 an ounce, even as prices could remain in a downtrend in the near term.

In what could be a volatile market, MKS sees gold prices trading in a range between $1,850 and $2,100 an ounce through the second half of the year.

"Stay core long Gold but remain tactically nimble, which hinges on the interplay between a relatively restrictive Fed & stronger US data," Shiels said in her latest report.

Shiels warned investors that gold could continue to struggle during the rest of the summer as the Federal Reserve looks to raise interest rates later this month. However, she added that there is a chance gold can still see record all-time highs by the end of the year.

"We do expect a bumpy 2H'23 as monetary policy starts to bite; Gold prices are then expected to print a new all-time-high in 2H'23 and pierce $2100/oz," said Shiels. "Our conviction lies in higher floors versus runaway upside repricing unless the Fed loses the inflation fight (not our base case) or breaks something more substantial in the economy."

Although the threat of a recession, caused by the Federal Reserve's aggressive monetary policies, is still in the marketplace, Shiels said that the fear has diminished, and investors are now chasing momentum in other assets.

"U.S. financial instability risks have materially subsided – there is just no macro fear – and fighting the Fed is usually a losing trade after they have, to-date, simply extremely complicated risks. However, underweight investors will continue to incrementally reengage in quality assets and safe havens like precious metals."

Bank of America downgrades gold, silver prices for 2023 as Fed rate hikes keep investors away

Along with gold, Shiels also remains bullish on silver, leaving her average price target unchanged at $24 an ounce. At the same time, MKS sees silver prices trading in a range between $21.50 and $27 through the second half of the year.

Shiels noted that silver's significant supply-demand imbalance continues to support the precious metal's long-term bullish outlook.

"Strong support lurks below $22/oz stemming from a mix of industrial & retail participation, which is expected to remain resilient into 2H'23 despite growing recession risks," she said. "There continues to be asymmetric upside risks in Silver which hinges on investor resubscription, the return of Chinese buying & restocking and the convincing rollover in the US$ once the Fed pauses and expectations shift to a consecutive rate cuts."

By

Neils Christensen

For Kitco News

Time to Buy Gold and silver

Tim Moseley

Smart Cities Equal Total Control Of Civilization Don’t Take The Bait

Smart Cities Equal Total Control Of Civilization. Don’t Take The Bait. 

As mentioned in a previous article, power companies in Texas automatically raised the temperature of so-called smart thermostats in thousands of homes to help save energy during a heat wave in June 2021. Most people had no idea that their home temperature had been raised nor that the power company's ability to do this was outlined in the fine print of their contracts. 

If what the Texas citizens experienced sounds ominous, it’s just the tip of the iceberg of what the World Economic Forum (WEF) has planned with its smart cities. In this article, we’ll explore smart cities, including who invented them, where they're being rolled out, when they will be complete, and whether or not the WEF’s plans will succeed. 

What Is A Smart City?

The best definition comes from Wikipedia. It's lengthy but needs to be cited because it captures the full scope of smart cities.

 “A smart city is a technologically modern urban area that uses different types of electronic methods and sensors to collect specific data. The information gained from that data is used to manage assets, resources, and services efficiently; in return, that data is used to improve operations across the city. This includes data collected from citizens, devices, buildings, and assets that are processed and analyzed to monitor and manage traffic and transportation systems, power plants, utilities, water supply networks, waste, criminal investigations, information systems, schools, libraries, hospitals, and other community services. Smart cities are defined as smart both in the ways in which their governments harness technology as well as how they monitor, analyze, plan, and govern the city. In smart cities, the sharing of data is not limited to the city itself but also includes businesses, citizens, and other third parties.”

In short,  a smart city is where everything you do is tracked and managed by the government, including what you do at home. This is possible because almost every modern home appliance has internet connectivity, not just thermostats, but fridges, microwaves, TVs, cars, and even home entry systems are all connected these days. In other words, smart cities are the dictionary definition of a digital dystopia. 

Now it's important to note that smart cities and 15-minute cities are different. Although the two terms are used interchangeably, they're not the same, albeit related. Whereas smart cities involve tracking and managing everything you do, 15-minute cities explicitly limit where you can go. Moreover, the primary unelected and unaccountable entity pushing 15-minute cities is the C40 Cities Climate Leadership Group, whereas the primary unelected and unaccountable entity driving smart cities is the WEF. 

Who Brought Smart Cities To Light

The term smart cities had its roots in a marketing initiative called Smarter Cities by Tech Giant IBM in 2008. The enterprise has its roots in a 2008 speech by former IBM CEO Sam Palmisano titled “A Smarter Planet, The Next Leadership Agenda.” Sam's discourse on this topic can still be viewed on YouTube. 

Sam says a lot of the same stuff you hear today. There's turmoil in markets, supply chain issues, accelerating climate change, political tensions arising, an energy crisis, etc. Like today's elites, Sam saw these crises as a “unique opportunity to transform the world.” He talked about how digital and physical spaces are converging, how people demand change, and how this demand should be exploited to “change the game.” 

It sounds like the new normal and the great reset narratives we've heard from almost every government official worldwide since 2020. Today's difference is that the elites have the technology required to impose their will on the average person. The absence of such technology is why smart cities initially had difficulty getting off the ground. 

Amsterdam was the first to pursue a smart city initiative, and it quickly became a reference point for how smart cities should be set up worldwide. Interest in smart cities started to accelerate in the following years, with the European Union announcing a smart cities initiative in 2012 and Singapore following suit in 2014. 


Image source: Google Trends

The search trends for smart cities peaked when the United Kingdom and India announced their initiatives in 2015. 2015 was also the year when Google incorporated a company called Sidewalk Labs, whose purpose was to facilitate the development of smart cities worldwide. There was little coordination around the creation or governance of smart cities until that point.

It all changed on January 1st, 2016, when the United Nations announced its Sustainable Development Goals (SDGs). For context, the SDGs are 17 goals that are supposed to be met by all UN members, basically the whole world, by 2030. This is why you see the date 2030 everywhere. 


Image Source: un.org

The development of smart cities is part of the 11th SDG, which is to “make cities inclusive, safe, resilient and sustainable.” The Smart City Index was developed by the Singaporean University and a Swiss University in 2017 to measure how well smart cities meet these arbitrary goals. Not surprisingly, Singapore has replaced Amsterdam as the gold standard for smart cities.

Whereas Amsterdam's approach to smart cities was traffic management, Singapore's approach includes tracking whether people are littering or smoking in places they're not supposed to. Then in 2018, consulting firm McKinsey & Company published a lengthy report about smart cities. The firm found that “Cities can use Smart Technologies to improve some essential quality of life indicators by 10% – 30%. Numbers that translate into lives saved, fewer crime incidents, shorter commutes, a reduced health burden, and carbon emissions averted." 

The WEF’s G20 Global Smart Cities Alliance

Most institutions that were interested in smart cities after the SDGs were announced came from the public sector. This changed in 2019 when the World Economic Forum announced the G20 Global Smart Cities Alliance on Technology Governance. As per the WEF’s initiatives website

“The G20 Global Smart Cities Alliance unites municipal, regional, and national governments together with private-sector partners and urban residents to focus on a shared set of core guiding principles for the responsible use of smart city technologies.”

Moreover, 

“The Alliance partners with international organizations and city networks to source tried-and-tested policy approaches to these technologies. Our institutional partners represent more than 200,000 cities and local governments, companies, startups, research institutions, and civil society communities. The World Economic Forum serves as the Alliance's secretariat.”

In other words, the WEF will govern smart cities being developed. Did we vote for this? It’s important to note that this announcement came within two weeks after the WEF had announced a strategic partnership with the UN to ensure the SDGs were met. The WEF and its affiliates would provide the private sector coordination and funding as part of this partnership. 

The SDGs also include the development of digital IDs. Furthermore, the WEF and its affiliates used the pandemic to test digital IDs. Alongside this initiative, the WEF also began testing smart cities with the G20 Global Smart City Alliance. In November 2020, the alliance announced 36 so-called pioneer cities from 22 countries worldwide that would participate in a study to understand how the WEF can best govern smart cities. 

That same year, the WEF announced it would begin developing smart cities in Japan, Latin America, and India. If you're wondering why Japan is on the list, it’s because the G20 WEF Alliance was formed during Japan's G20 presidency. Japan's interest in smart cities comes from its own Society 5.0 initiative, which was announced in 2017. 

For many, the Society 5.0 initiative is a terrifying concept; as UNESCO describes it, “Japan’s new blueprint for a super-smart society, Society 5.0, is a more far-reaching concept than the Fourth Industrial Revolution, for it envisions completely transforming the Japanese way of life by blurring the frontier between cyberspace and the physical space.” Note that the Fourth Industrial Revolution is another initiative by the WEF.

The Pioneer City study concluded in July 2021, and the key findings were everything you'd expect. Almost no government accountability, almost no cybersecurity standards, and virtually no privacy. Very little accommodation for people who aren't plugged in and almost no transparency about data use. 

Despite these disastrous results, the WEF continues to work on the “governance” of over 80 smart cities being developed in Japan, Latin America, and India. In May 2022, the WEF announced, "The alliance is planning to launch more networks in Asia, the Middle East, and Africa.” 

One can even argue that the WEF used the pandemic to develop smart cities because the May update specifies that “The Global Smart Cities Alliance on Technology Governance is led by the Forum’s platform for Shaping the Future of Urban Transformation, established during the pandemic. 

Which Cities Will Convert?

Now, if you're wondering which cities will be converted into smart cities and controlled by the WEF, the short answer is all of them. This is simply because the UN's SDGs require all 193 member countries to introduce smart cities by 2030. As such, the only question is when cities will be under the WEF’s control. The goal is to turn every city into a smart city by 2030, but it looks like the WEF and its UN affiliates are rolling out smart cities, one region at a time. 

So right now, the WEF is working on Japan, Latin America, and India and will soon be working on Asia, the Middle East, and Africa. More to the point, except for Japan, the WEF is currently focused on building smart cities in developing countries. This is probably because populations in poorer countries are easier to control and because these populations are begging for some usable infrastructure. 

The most prominent smart cities initiative in a developing country appears to be the one from India mentioned earlier. The smart cities mission of 2015 sought to turn 100 cities across India into smart cities. An August 2021 update notes that Delhi and Nagaland have completed over 70% of their projects, making them the smartest cities to date. While another seven states – Rajasthan, Gujarat, Karnataka, Madhya Pradesh, Goa, Tripura, and Andhra Pradesh – have finished 50-60%. However, many other states/UTs are not performing well. Meghalaya has not completed even a single project.

It makes one wonder when the WEF will shift its smart cities focus to developed countries in places like North America and Europe. It will probably happen once the WEF has experimented enough on developing countries to know how to roll out smart cities without causing a full-scale revolution. That said, some countries in developed regions are not so subtly working with the WEF already. 

The largest smart cities initiative in a developed country comes from the European Union (EU). In September 2021, the EU announced its 100 climate-neutral and smart cities by 2013 mission. In April 2022, the complete list of participating cities was revealed. It’s worth mentioning that the EU’s list doesn't only include major cities; it also includes smaller towns and regions of only 100,000 people. It raises the argument that many may have only signed on because the EU will give €360 million to participants. 

According to the McKinsey report, the smartest cities in Europe in 2018 were Stockholm, Amsterdam, and Copenhagen. The same report notes that New York City, San Francisco, and Chicago were the smartest cities in the United States in 2018. 


Screenshot source: McKinsey report

According to the Smart Cities Index, the smartest cities in 2021 were Singapore, Oslo, and Zurich. The only issue they had was housing. However, this is not the only issue associated with smart cities, and the evidence so far suggests the WEF’s mission will fail. 

A WEF Victory Hangs In The Balance

Believe it or not, the most significant pushback to the WEF smart cities has come from individuals and institutions aligned with the WEF on most other issues. This is because of the use of smart city data for criminal investigations, which you'll recall was highlighted in the Wikipedia definition above. 

These critics have pointed out that smart city data tends to result in the over-policing of specific groups, which goes against the equitable principles of the smart cities concept. This is a bigger deal than you think because the primary benefit of smart cities is crime reduction, at least according to McKinsey. The 2018 smart cities report states, “Incidents of assault, robbery, burglary, and auto theft could be lowered by 30% to 40%.” 

On top of these metrics are the invaluable benefits of giving residents freedom of movement and peace of mind. This is the largest chunk of the overall benefit. Otherwise, pro-WEF critics are also concerned about sharing personally identifiable data. Remember Google's smart city subsidiary, Sidewalk Labs? Their first project was a smart city in Toronto, Canada. The project was shut down in early 2020 after the privacy commissioner resigned in protest. It happened around the time that the average Indian citizen started to become skeptical of the country's smart cities mission. 

By 2020 all the 100 cities selected were supposed to be smart cities. However, only a handful have met the necessary criteria, and there continued to be headlines about delays and corruption. In 2021, some public sector institutions started to oppose smart cities, with Yale University publishing an article titled “Why the Luster on Once Vaunted Smart Cities Is Fading.” The article explains how cities built from scratch to be smart have failed and have been a waste of time and money.  

At the same time, other public sector institutions started to study why smart cities were failing so miserably. Lo and behold, most of these studies focused on the fact that smart cities are at odds with the ambitious social justice goals many smart city types support even more. 

It's not just the public sector either; institutions in the private sector are starting to realize that the cost of rolling out the surveillance infrastructure required is not worth the estimated gains, especially if personally identifiable data can't be sold. Without the private sector on board, smart cities will fail. 


Source: Youtube

One of the best articles yet about the failure of smart cities is titled “Why smart cities aren't the future.” It was published in December 2022 by journalist David Sax, who wrote a book about why smart cities suck, citing, “As many smart city solutions fail to live up to the hype, here’s why the future could rest in analog innovations, not technological ones.”

David refers to Burcu Baykurt, who teaches urban futures and communications at the University of Massachusetts and is the author of the forthcoming book titled  “The City as Data Machine,” which is currently under embargo till April 2024. 

She looks at the legacy of a smart city project Google and Cisco attempted in Kansas City, starting back in 2016, stating that the plan was to attempt a test bed downtown, using sensors, advanced cameras, public Wi-Fi networks, and digital kiosks to connect all sorts of city services and improve them for the mostly poorer Black and Latino residents of the area. The data would reveal gaps in parking, transportation, and policing, which would lead to quicker and better solutions by city staff.

In other words, it was supposed to be the textbook smart city, but here's what actually happened; Burku Baykurt concluded,

”To be honest, it doesn't change much. The hype mobilizes a lot of people. There seems to be change going on. Breathless proclamations are made. Articles are written. Politicians take photos with executives. But in the end, the data is just that: lots of data. And in the Kansas City case, the solutions proposed from that data were so impractical and disconnected from reality (driverless cars and drones rather than buses and more police patrols) that the project quietly died after a few years.”

David ends his article with a fantastic quote, which just so happens to touch on the primary issues that continue to plague the smartest of smart cities, 

“The future of cities lies not in making cities obsolete by upending them through digital utopianism but in doubling down on the analog things that have always made cities great: housing opportunities, economic and cultural diversity, vibrant public spaces, a mishmash of humanity.”

Why Smart Cities Will Fail

In sum, the WEF’s smart cities will fail because they can't appease their ideological allies and cannot coordinate the creation of smart cities from the top down. Never mind that the average person doesn't want to live in a dystopian smart city that the WEF governs. However, this doesn't mean that the folk at the WEF aren't going to try. 

This article about how to resist the great reset explains that the WEF is trying to take control of cities, states, and governments using its network of 10,000 young global leaders and shapers who are being maneuvered into positions of power. 

So be on the lookout for these individuals, as well as any institutions they are associated with. They'll be easy to spot because they will be the ones pushing for digital ID, CBDCs, online censorship, carbon credit scores, smart cities, and all the other UN SDGs the WEF is trying to implement. Also, note that ESG criteria are synonymous with SDG criteria. 

All this information can be overwhelming, so here’s a short video to lighten the mood and have a bit of a laugh. 

As the old saying goes, “Don't be scared, be prepared.” What prepared means varies from person to person, but an excellent first step is being informed. A good second step is telling others who are willing to listen. After that, the rest is up to you. 

 

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

 

 

Tim Moseley

Why Joining 75000 XRP Holders Against the SEC Does Not Affect Potential Recovery for XRP Holders

Why Joining 75,000 XRP Holders Against the SEC Does Not Affect Potential Recovery for XRP Holders

By Aaron Feuerstein – July 10, 2023

Prominent crypto lawyer John E. Deaton was recently asked about the possibility of more XRP holders joining the civil case against Ripple in Oakland, California, if the verdict in SEC vs Ripple goes against Ripple and the judge declares XRP a security. Just last week, a California Judge certified a class of American purchasers of XRP in a complaint accusing Ripple Labs of selling unregistered securities. This second legal concern Ripple is facing is the subject of the tweet that prompted the question.

Concerning the ongoing legal conflict between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Deaton discussed the possible options and their potential impact on Ripple, XRP investors, and the SEC.

Regarding any money flowing from Ripple to the SEC, the lawyer is sure it won’t happen for years and only if Ripple were to lose on appeal.

Deaton said: “If the Supreme Court takes it on appeal (which I believe they will if Congress hasn’t acted by then), I believe Ripple hands down wins with this Supreme Court. If the SEC wins Ripple will appeal and the status quo that exists today will continue over the next 2-5 years.”

He claims that if the SEC prevails and the civil case attorneys triumph because the Californian judge upholds Judge Torres’ decision, Ripple will also appeal that case and no money will change hands, possibly never. If Ripple loses all of its challenges in five years, the SEC, not the civil claimants, would be responsible for collecting the $1.3 billion.

It’s important to note that the SEC would receive this money rather than the civil claimants. In response, the SEC would create a repayment fund akin to the Veritaseum case, enabling holders of XRP to sell their tokens.

Deaton emphasizes an intriguing aspect of the situation that some may have missed. He argues that if the SEC were to lose, the damages that could be recovered in civil litigation would rise. Conversely, an SEC victory could make obtaining any financial losses more challenging for the civil lawsuit’s plaintiffs.

Deaton stresses that signing up for the 75K list, a list of XRP owners he represents in SEC vs Ripple, does not constitute a waiver of any rights or claims. Being on the list instead aids in identifying a sizable potential class of XRP holders. Holders of XRP on the list would probably be informed if there was ever a financial recovery in either the civil or SEC lawsuit.

He said: “Also if Ripple loses and Congress fixes this regulatory mess during the 5 years of appeals, it all goes away anyway. Bottom line, being on the list didn’t waive anything and, if anything, it identified your claims (if you have any) long ago.”

Critics who claim that joining the 75K list and claiming that XRP is not a security would be damaging if XRP holders received financial compensation are dismissed by the attorney. He clarifies that even if a judge and an appeals court found differently, being mistaken about XRP’s security status would not result in punishment.

Given the possible outcomes, Deaton expresses doubt about the civil lawsuit’s impact. He contends that, paradoxically, XRP investors would gain if the SEC finally wins since it would receive the largest settlement and the best resolution.

These observations from John E. Deaton offer helpful perspectives on the probable outcomes and repercussions for all parties involved as the Ripple-SEC legal dispute continues.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Aaron Feuerstein and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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How to Embrace Optimism: A Guide to More Happiness and Success

How to Embrace Optimism: A Guide to More Happiness and Success

Embracing optimism can be a powerful tool for increasing happiness and success in life. Optimism is the tendency to look for and expect positive outcomes, even in the face of adversity. It involves having a positive outlook on life, believing in one's abilities, and focusing on the good rather than the bad.

People who embrace optimism tend to have better mental health, higher levels of well-being, and greater motivation when pursuing their goals. Optimism can also help individuals develop resilience, which is the ability to bounce back from setbacks and challenges. By focusing on the positive aspects of a situation, individuals can reframe their thinking and find solutions to problems that may have seemed insurmountable.

Understanding Optimism

Optimism is the belief that good things will happen in the future. It is a positive outlook on life that can help individuals overcome challenges and achieve their goals. Optimists tend to view setbacks as temporary and specific, while pessimists view them as permanent and pervasive. This difference in thinking can have a significant impact on an individual's mental health, relationships, and overall well-being.

An optimist is someone who has a positive outlook on life. They tend to focus on the good in situations and believe that things will work out in the end. Optimists are more likely to take risks, try new things, and persevere through difficult times. They also tend to have better physical health, lower levels of stress, and stronger social support networks.

One of the key components of optimism is explanatory style. Explanatory style refers to the way individuals explain the causes of events in their lives. Optimists tend to explain positive events as permanent, pervasive, and personal, while negative events are explained as temporary, specific, and external. Pessimists, on the other hand, tend to explain positive events as temporary, specific, and external, while negative events are explained as permanent, pervasive, and personal.

Understanding optimism can help individuals cultivate a more positive outlook on life. By focusing on the good in situations and adopting an optimistic explanatory style, individuals can improve their mental health, relationships, and overall well-being. It is important to note that optimism does not mean ignoring problems or challenges. Instead, it means approaching them with a positive attitude and a belief that things will work out in the end.

The Science Behind Optimism

Optimism is a positive mental attitude that involves looking at the world in a positive light and expecting good things to happen. While some people are naturally optimistic, others can learn to be more optimistic by practicing certain techniques.

Studies on Optimism

Studies have found that optimism is associated with a range of positive outcomes, including better mental health, higher levels of well-being, and even longer life. For example, a study published in the journal PNAS in 2019 found that people who rated themselves as having high optimism were more likely to live to age 85 or older compared with less optimistic individuals.

Another study published in the Journal of Positive Psychology found that people who practiced optimism techniques reported lower levels of depression and higher levels of life satisfaction. The study also found that these effects were maintained over time.

Reported Benefits of Optimism

Optimism has been linked to a range of reported benefits, including better mental health, higher levels of well-being, and improved motivation. For example, optimists tend to report higher levels of well-being than pessimists, and teaching learned optimism techniques can significantly reduce depression.

Optimism also appears to fuel our efforts in achieving personal goals, and improves the overall quality of our experiences while doing so, by increasing happiness and reducing stress. Less stress also reduces the likelihood of mental distress, a common side effect of striving.

Overall, the science of positive psychology has shown that optimism is an important aspect of well-being and success. By practicing optimism techniques and cultivating a positive mindset, individuals can improve their mental health, achieve their goals, and enjoy a happier and more fulfilling life.

Sources:

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Optimism and Mental Health

Optimism is a powerful tool that can have a significant impact on mental health. It can help individuals feel happier, manage stress better, and improve emotional health. Here are some ways in which optimism can positively influence mental health:

Optimism and Happiness

Optimistic individuals tend to have a more positive outlook on life, which can lead to increased happiness. Studies have shown that people who practice optimism regularly report higher levels of well-being than those who do not. Optimism can help individuals cultivate a sense of hope and positivity, which can lead to a more fulfilling life.

Optimism and Stress Management

Stress is a common issue that can negatively impact mental health. However, individuals who practice optimism tend to manage stress better than those who do not. Optimism can help individuals approach stressful situations with a more positive mindset, which can lead to better outcomes. Additionally, optimistic individuals tend to have a better sense of control over their lives, which can help reduce stress levels.

Optimism and Emotional Health

Emotional health is an important aspect of mental health. Optimism can help individuals develop a more positive self-image, which can lead to improved emotional health. Optimistic individuals tend to have higher levels of self-esteem and confidence, which can help them navigate difficult situations with more ease. Additionally, optimism can help individuals develop better coping mechanisms, which can help them deal with negative emotions in a healthier way.

In conclusion, optimism can have a significant impact on mental health. It can help individuals feel happier, manage stress better, and improve emotional health. By cultivating a more positive mindset, individuals can improve their overall well-being and lead a more fulfilling life.

Optimism and Success

Optimism is crucial to achieving success in life. A positive outlook can help individuals overcome obstacles, stay motivated, and maintain a sense of purpose. This section will explore the relationship between optimism and success, including how it affects personal goals and performance.

Optimism and Personal Goals

When individuals are optimistic, they are more likely to set ambitious personal goals and work towards achieving them. Optimists tend to focus on their strengths and abilities, rather than their weaknesses and limitations. This positive mindset can help individuals stay motivated and persevere through challenges.

Furthermore, optimists tend to view setbacks as temporary and specific, rather than permanent and pervasive. This means that when they encounter obstacles, they are more likely to view them as opportunities for growth and learning. They are less likely to give up on their goals and more likely to try new approaches to achieve them.

Optimism and Performance

Optimism can also have a significant impact on an individual's performance. When individuals are optimistic, they tend to approach tasks with a can-do attitude and a sense of confidence. This positive mindset can help individuals perform better, be more creative, and take more risks.

Moreover, optimists tend to be more resilient in the face of failure. They are less likely to become discouraged or give up when things don't go as planned. Instead, they view setbacks as learning opportunities and use them to improve their performance.

In conclusion, optimism is a critical factor in achieving success in life. It can help individuals set ambitious personal goals, maintain motivation, and overcome obstacles. Additionally, it can improve an individual's performance by increasing confidence, creativity, and resilience.

Building Optimism in Life

To embrace optimism in life, one needs to cultivate a positive mindset. This can be done in several ways, including practicing gratitude, facing challenges with an optimistic view, and building confidence through optimism.

Practicing Gratitude

Practicing gratitude is a powerful way to cultivate a positive mindset and build optimism in life. By focusing on the good things in life, one can shift their focus from negative thoughts to positive ones. This can help to reduce stress and anxiety and improve overall well-being.

One way to practice gratitude is to keep a gratitude journal. This involves writing down three things that you are grateful for each day. These can be simple things like a beautiful sunset or a kind gesture from a friend. By focusing on the positive, you can train your mind to see the good in every situation.

Facing Challenges with an Optimistic View

Another way to build optimism in life is to face challenges with an optimistic view. This involves reframing negative thoughts and beliefs into positive ones. For example, instead of thinking, "I can't do this," try thinking, "I can do this if I try my best."

By adopting an optimistic view, one can approach challenges with a growth mindset. This means seeing failures and setbacks as opportunities for learning and growth. This can help to build resilience and improve problem-solving skills.

Building Confidence Through Optimism

Finally, building confidence through optimism is another way to cultivate a positive mindset. By believing in oneself and one's abilities, one can approach life with a sense of purpose and direction.

One way to build confidence through optimism is to focus on past successes and achievements. By reminding oneself of past accomplishments, one can build a sense of self-efficacy and belief in one's abilities. This can help to overcome self-doubt and build confidence in the face of new challenges.

In conclusion, building optimism in life is a powerful way to improve happiness and success. By practicing gratitude, facing challenges with an optimistic view, and building confidence through optimism, one can cultivate a positive mindset and approach life with a sense of purpose and direction.

Optimism and Relationships

Optimism can have a significant impact on relationships. People who are optimistic tend to have more positive and fulfilling relationships than those who are pessimistic. They are more likely to see the good in their partner and focus on their strengths rather than their weaknesses.

Optimistic individuals are also more likely to forgive and forget. They don't hold grudges and are willing to let go of past mistakes. This helps to build trust and strengthen relationships over time.

On the other hand, pessimistic individuals tend to be more critical and judgmental of their partner. They are more likely to focus on their partner's flaws and mistakes, which can lead to resentment and conflict. This negative outlook can damage relationships and make it difficult to build trust and intimacy.

It's important to note that being optimistic in a relationship doesn't mean that everything is perfect all the time. Every relationship has its ups and downs, and it's normal to experience challenges and conflicts. However, optimistic individuals are better equipped to handle these challenges and find solutions that work for both partners.

One key factor in building optimistic relationships is communication. Optimistic individuals are more likely to communicate openly and honestly with their partner. They are willing to express their feelings and needs and listen to their partner's perspective. This helps to build trust and understanding, which is essential for a healthy relationship.

In summary, optimism plays a crucial role in building positive and fulfilling relationships. Optimistic individuals are more likely to see the good in their partner, forgive and forget, and communicate openly and honestly. By embracing optimism in their relationships, individuals can build stronger and more satisfying connections with their partner.

Conclusion

In conclusion, embracing optimism in life can bring numerous benefits to an individual's mental and physical health. By focusing on the positive aspects of life and taking control of one's thoughts, individuals can achieve a sense of control and stability in their lives.

Research has shown that optimism can lead to better mental health, higher levels of well-being, and reduced levels of stress and depression. By adopting an optimistic mindset, individuals can also maintain motivation when pursuing their goals, leading to greater success and happiness.

It is important to note that embracing optimism does not mean ignoring the challenges and obstacles that come with life. Instead, it means reframing negative situations in a positive light and focusing on solutions rather than problems.

Overall, incorporating optimism into daily life can lead to a more fulfilling and satisfying life. By taking control of one's thoughts and focusing on the positive aspects of life, individuals can achieve greater happiness and success.

ecosystem for entrepreneurs

Tim Moseley

t’s a ‘tug of war’ for gold price next week as attention turns to inflation report ahead of July Fed rate decision – analysts

t's a 'tug of war' for gold price next week as attention turns to inflation report ahead of July Fed rate decision – analysts

Despite more than a $20 gain Friday, the gold market is yet to prove that its bearish downtrend is over, according to analysts, who are carefully monitoring next week's June inflation report as a potential trigger.

The gold market rebounded Friday on weaker-than-expected employment data from June, with the U.S. economy adding 209,000 new positions versus the expected 225,000. This marked the weakest gain since December 2020.

At the time of writing, August Comex gold futures were trading at $1,935.50, up 1.05% on the day, after trading at $1,915.4 earlier in the session.

Slowing employment growth is good news for gold as it could remove the need to hike twice this year — a promise made by Federal Reserve Chair Jerome Powell multiple times in June.

But last month's employment slowdown was not steep enough to prevent the Fed from hiking in July, which means that gold price gains could be limited in the short term.

"Although slowing employment growth will be welcomed by Fed officials – particularly following the alarming (and seemingly misleading) surge in the ADP measure reported yesterday," Capital Economics deputy chief U.S. economist Andrew Hunter. "It is unlikely to stop the Fed from hiking rates again later this month, particularly when the downward trend in wage growth appears to be stalling."

With just over two weeks remaining until the Fed meeting on July 25-26, the latest inflation numbers from June, scheduled to be released Wednesday, will be carefully monitored by markets.

The macroeconomics outlook is one of the biggest headwinds for gold in the short term, said Forex.com's senior technical strategist Michael Boutros.

"Markets are pricing a 92% chance of a rate hike in July," Boutros told Kitco News. "But only one rate hike is expected while the Fed telegraphs two. If that shifts, it may limit the upside for gold."

The U.S. dollar took a hit Friday, supporting gold prices at the end of the week, with the U.S. dollar index last at 102.27, down 0.87% on the day.

"It is going to be a tug of war for gold. Don't see a big downdraft," Boutros said.

The long-term outlook for gold is bullish as the labor market will weaken, ushering in a much weaker economy, OANDA senior market analyst Edward Moya told Kitco News.

"Eventually, it will turn bullish for gold. But with more rate hikes being priced in, it is difficult for gold right now," Moya said. "Next week's inflation report could be rather soft. Trading could be very choppy next week."

Gold price levels to watch

From a technical perspective, Boutros pointed out that gold can only break its bearish trend when it rises above $1,943 and $1,965 price levels.

The $1,903-10 range has been a rock-solid critical support zone. That level held on a close basis," he said. "The broader trend from April-May highs is still intact. But gold is not out of the woods until it gets a daily close above $1,943 and $1,965. Then, a broader uptrend can take root."

If gold sees a move lower, Boutros warned to keep an eye on $1,891. If that breaks, the gold market could see a major move down to $1,830, which would be just the initial support level, he added.

 

Data next week

Monday: Fed Vice Chair for Supervision Barr Speaks

Wednesday: U.S. CPI, Bank of Canada rate decision

Thursday: U.S. PPI, U.S. jobless claims

Friday: Michigan consumer expectations

By

Anna Golubova

For Kitco News

Time to Buy Gold and silver

Tim Moseley

How to Boost Traffic to Your Website for Free

How to Boost Traffic to Your Website for Free

Boosting traffic to your website can be a challenging task, but there are several effective strategies you can employ to increase your website's visibility and attract more visitors without spending money. Here are some ways to boost traffic to your website for free:

  1. Optimize Your Website for Search Engines (SEO):

    • Conduct keyword research to identify relevant keywords for your content.
    • Include those keywords naturally in your website's titles, headings, and content.
    • Write high-quality, informative content that adds value to your visitors.
    • Optimize meta tags, descriptions, and alt tags for your images.
    • Improve website loading speed and ensure it is mobile-friendly.
  2. Create Engaging Content:

    • Publish regular blog posts, articles, or videos that are interesting and useful to your target audience.
    • Focus on quality and uniqueness to attract and engage readers.
    • Use visuals like images, infographics, or videos to enhance your content.
    • Encourage social sharing by incorporating social sharing buttons.
  3. Leverage Social Media:

    • Establish a strong presence on popular social media platforms like Facebook, Twitter, LinkedIn, Instagram, or Pinterest.
    • Share your website content, engage with your audience, and participate in relevant communities or groups.
    • Utilize hashtags and keywords to make your content more discoverable.
    • Collaborate with influencers or other relevant websites to extend your reach.
  4. Utilize Email Marketing:

    • Build an email list of interested subscribers by offering valuable content, incentives, or newsletters.
    • Send regular updates, promotions, or exclusive content to your subscribers.
    • Personalize your emails and make them engaging to encourage click-throughs to your website.
  5. Utilize Online Directories and Listings:

    • Submit your website to online directories and listings related to your industry or niche.
    • Ensure your website is listed accurately in local directories like Google My Business, Yelp, or Yellow Pages.
    • Include your website link in your social media profiles, forum signatures, and online profiles.
  6. Participate in Online Communities and Forums:

    • Find relevant online communities and forums related to your industry.
    • Participate in discussions, provide helpful answers, and share your expertise.
    • Include your website link in your forum signature or when it's relevant to the discussion.
  7. Guest Blogging and Cross-Promotion:

    • Contribute guest posts to reputable websites or blogs in your niche.
    • Include a bio or author section with a link back to your website.
    • Collaborate with other website owners for cross-promotion, where you both promote each other's content or websites.
  8. Optimize for Local Search:

    • If you have a local business, optimize your website for local search.
    • Include your location and relevant keywords in your content, meta tags, and descriptions.
    • Register your business on Google My Business and other local directories.
  9. Monitor Website Analytics:

    • Use tools like Google Analytics to track your website's performance.
    • Analyze visitor behavior, popular content, and traffic sources.
    • Adjust your strategies based on the data to improve your website's performance.

Remember, boosting website traffic takes time and consistent effort. Implement these strategies, be patient, and keep refining your approach based on the results you observe.

Tim Moseley

The Artist that came out of the Winter