The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label regulation. Show all posts
Showing posts with label regulation. Show all posts

Friday, June 2, 2017

Russia announces they looking to introduce a sovereign cryptocurrency in the future at St. Petersburg Economic Forum

Those who are strong advocates for Bitcoin and other cryptocurrencies know that one of the best features in these digital monies is the fact that they are decentralized and not under the control of both central banks, and sovereign governments.  And it is this factor that has allowed individuals to use crptocurrencies as a means to get out of sovereign controlled fiat currencies and into perceived safe havens for their wealth.

But the biggest fear in the cruptocurrency community has always been the co-opting of the Blockchain by The Powers That Be to use the technology to create their own digital currencies which could then allow governments to outlaw the decentralized ones, and force individuals into using their own controlled ones.

To date regulations on cryptocurrencies has been far from standardized, with countries like the U.S. labeling them as securities (property), countries like Japan welcoming and legitimizing them as currencies, and countries like China imposing strict oversight on investors who buy and sell them.  But now on June 2 one country has announced their intention to create a sovereign national cryptocurrency which changes the ballgame entirely for the crypto community.

The Central Bank of Russia has plans to introduce a national cryptocurrency of its design, according to Deputy Governor Olga Skorobogatova. 
"Regulators of all countries have come to the conclusion that it is necessary to do a national virtual currency. This is the future. Each country will decide the issue of a specific time and maturity independently," said Skorobogatova, speaking at St. Petersburg International Economic Forum (SPIEF 2017).
Skorobogatova said testing of a national virtual currency has already taken place on the Masterchain and Hyperledger platforms. 
She added that the details of the project could be revealed in two to three years. 
While Russian officials have been divided on cryptocurrencies, the technology has been backed by the financial sector, most notably by Herman Gref the head of Russia’s largest lender Sberbank. 
During the Forum, First Deputy Chairman of the Bank of Russia Sergey Shvetsov also said that one of the Russian stock exchanges is planning to allow trading in virtual currencies. 
“There is a discussion whether it is a commodity or not," he told RIA Novosti.
Cryptocurrencies could be recognized in Russia by 2018, said Deputy Finance Minister Aleksey Moiseev in April. Although he expressed concern about the anonymity of transactions. 
“The state needs to know who at every moment of time stands on both sides of the financial chain,” Moiseev said in an interview, as cited by Bloomberg. “If there’s a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations.” - Russia Today

Thursday, February 9, 2017

Bitcoin goes mainstream as Japan legalizes the crypto-currency and designates it as legal tender

As major world currencies such as the Yen, Yuan, and Euro struggle to remain viable in an eroding global monetary system, some governments are slowly coming to accept the advent of alternative mediums of exchange that their citizens can use to protect their purchasing power.

Since 2009, dozens of central banks have embarked on a currency war following the 2008 global financial crisis in order to protect their economies and especially their exports.  And ironically it was this same year that Bitcoin came onto the scene as the world's first crypto-currency.

And over the past eight years governments have struggled with how to deal with a form of currency that they could not control, tax, or regulate, and Bitcoin inevitably followed the path laid out by Mahatma Gandhi when he used a non-violent method of rebellion to eventually secure India's freedom from Britain.
"First they ignore you, then they laugh at you, then they fight you, then you win."
And on Feb. 9 we may have just seen the first real victory for Bitcoin acceptance in the mainstream as the Japanese government has officially decreed Bitcoin to now be considered as legal tender, and welcomed it for use by individuals and businesses.
Embracing cryptocurrency, Japan has a new law that will make bitcoins usable as legal tender. Companies hoping to deal in the new currency, however, must submit to a long list of regulations to ensure that the ‘coins’ are not being used for criminal activity. 
Among the regulations, a company is required to have at least $100,000 in reserve currency, report their activities to the government regularly, and undergo routine external audits by the Japanese National Tax Agency. 
Japanese companies wishing to use bitcoins will be expected to pay the equivalent of some $300,000 to adopt bitcoin, and there is no guarantee that they will receive a license, even if they abide by government edicts. The steep price tag will likely discourage smaller Japanese companies from adopting the cryptocurrency. 
The measures have been put in place, according to reports, to protect the rights of consumers, as bitcoins have been involved in several notorious scams. The most famous of these was the Mt. Gox scandal, in which a bitcoin exchange company was found to be artificially inflating their holdings. At its 2013 peak, Mt. Gox handled about 70 percent of bitcoin transactions in Japan, but the scandal shuttered them. - Sputnik News
Image result for bitcoin yen

There are of course many upsides and downsides to this new initiative by Japan embracing Bitcoin.  First, centralized regulation by a government is the antithesis of what the original creators of Bitcoin desired when they created the crypto-currency almost a decade ago, and it threatens to impart a growing loss of confidence in the digital currency as people begin to see Bitcoin simply as another fiat medium of exchange subject to the whims of government.  However, acceptance by that same government could be the catalyst necessary for reaching a point of critical mass, where retailers will rush into accepting the currency as it explodes in recognition locally, and elsewhere around the world.

Additionally, and like what we have seen recently over in China, the legalizing of Bitcoin as a viable form of currency could see a massive rush by the Japanese people into exchanging their Yen or Dollars for Bitcoin, causing the price to skyrocket even higher than it is today, while also removing supply out from the general marketplace.  Because according to the original programmers, only 21 million Bitcoin will ever be created (mined), and the Japanese population could easily co-opt the entire supply if just 20% purchased just one Bitcoin apiece.

Tuesday, December 27, 2011

Gold prices fall as China tightens internal trading and regulatory controls

Gold fell about $12 overnight as new regulatory controls were enacted by the Chinese government on trading of gold to the public.  It appears from the markets overreaction that they did not read into the new rules and processes, as it simply tightens audit controls, and not lessen the power to purchase the metals by citizens.

*CHINA TO INCREASE MANAGEMENT OF GOLD TRADING, PBOC SAYS
*CHINA GOLD TRADING RESTRICTED TO SHANGHAI EXCHANGES, PBOC SAYS
*CHINA ORDERS UNAUTHORIZED GOLD TRADING PLATFORMS TO STOP: PBOC
*PBOC ASKS SHANGHAI GOLD, FUTURES EXCHANGES TO BOOST MANAGEMENT

Like most news, the gold markets should settle back after the realization that trading isn't going to be limited, just carefully regulated a bit more in the Asain sphere.