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?

Friday, July 6, 2018

Fed is trying to distance itself from next financial crash by hiding data on their lessening balance sheet

At the end of the movie The Big Short, the writers of the book adaptation conveyed who was eventually scapegoated for the events that led to the bursting of the Housing Bubble and subsequent collapse of the global banking and financial system.
"I have a feeling, in a few years people are going to be doing what they always do when the economy tanks. They will be blaming immigrants and poor people."
And sure enough, those who actually created the systemic collapse were not only protected by the establishment, but were also given bailouts to the tune of trillions of dollars.

There are two intrinsic reasons why both the United States and the rest of the world economies have seen ever increasing financial crashes... and they are the removal from the gold standard, and where all monetary and fiscal policies being given over to the hands of the central banks.  And whether it was the Mexican Peso crisis, the Asian bond crisis, the Dot Com bubble, or the 2008 collapse, at the heart of every one of these crises was the credit expansion policies of the central banks.


Fast forward to today.

In 2012, Congress officially gave the Fed absolute control over both fiscal and monetary policy when in a hearing Senator Church Schumer told then Fed Chairman Ben Bernanke to 'get to work'.  And of course this 'get to work' demand was for the implementation of QE3.

Since then not only has the Fed propped up the bond markets at every turn, but they unlawfully expanded their mandate to include blowing up the equity markets to extraordinary proportions.  And now with the fruits of their policies showing up in rising inflation and unpayable debt levels for corporations, consumers, and the Federal government, the central bank is now being forced to have to pull back on its balance sheet growth and near zero interest rates.

This means of course that the very fuel that has blown up multiple bubbles in this current business cycle is being removed, and since the so-called recovery was reliant completely upon ever increasing credit expansion, the results will inevitably be the same as in 2008, only perhaps as much as 10 times worse.

Thankfully, the rise of the alternative media has provided the common man extraordinary access to truths long hidden behind the mainstream and corporate media on exactly what the central bank is, and what their policies actually entailed.  So now there is enough critical mass of awakening out there that when the next recession or crash comes, people can know exactly who to blame.
The Federal Reserve has become front and center in the U.S. presidential campaign. Republican nominee Donald Trump says the Fed has created a 'false economy' by keeping interest rates low. In fact, he told an Ohio crowd that the Fed is keeping interest rates low to prop up the stock market to help President Obama. - The Street
But the Federal Reserve appears to not want to go down without a fight, because the awakening that occurred following the 2008 collapse has given Trump the very ammunition to put the blame on the central bank should the economy tank during his tenure in office.  And in response to this potential threat, the Fed has decided beginning this month to discontinue providing data on the lessening of their balance sheet so as not to provide the fuel for markets and economists to direct the public's ire at the very entity who not only created this boondoggle, but who will also be ultimately responsible for its collapse.

Trade wars have begun as U.S. triggers global event through initial salvo of $34 billion in tariffs

On July 6 the rhetoric finally ended and the Trade Wars have begun.

At the start of Friday trading over in Asia, a series of tariffs were kicked off by the United States against China to the tune of $34 billion.  Shortly after, China retaliated with their own tariffs of the same amount, suggesting that for now escalation will be done on a case by case or tit for tat basis.

Just hours after the United States introduced 25 percent trade tariffs on $34 billion worth of Chinese goods, Beijing has retaliated with mirror measures against American imports. 
“After the United States introduced the new tariffs, China's reciprocal measures also immediately took effect,” said the spokesman for the Chinese Foreign Ministry Lu Kang. He did not specify the amount or types of the US goods that will be taxed by China. 
China's commerce ministry earlier said the country has no choice but to fight back after the US "launched the largest trade war in economic history." Beijing also accused Washington of breaching trade rules of the World Trade Organisation (WTO). - Russia Today
Perhaps the most interesting caveat in this initial salvo by Washington is that they left out Europe, Canada, and Mexico from tariffs as it appears the chance for continued negotiations with these regions are still viable.

However there was one country that decided to make its own statement against the U.S. by standing firm with their ally China, and sending a strong message to President Trump just a few weeks before they are to meet at a Summit.
Moscow has raised tariffs from 25 to 40 percent on some US imports in response to Washington’s move to impose tariffs on Russian steel and aluminum. 
"Compensating measures apply as additional, higher rates of import duties from 25 to 40 percent of the price of imported goods. They will cover certain US goods, whose alternatives are produced in Russia," Economic Development Minister Maksim Oreshkin said, as quoted by TASS news agency. 
"In particular, measures apply to certain types of road construction machinery, oil and gas equipment, metalworking and rock drilling tools and optic fiber," he added.  - Russia Today
With Donald Trump now committed to a trade and tariff war which historically has not gone well for the world economy in previous occurrences, the President has staked a great deal on his ability to coerce nations to have to renegotiate what has been a 20-30 year benefit in their favor.  But with a trade deficit that continues to edge closer to $1 trillion per year, and agencies like China and the EU so reliant upon exports to sustain their economies, this may be the best time for Trump to initiate this gambit especially since the U.S. has much less to lose while they still have control over the global monetary system.

Thursday, July 5, 2018

The Daily Economist update for July 5 2018 - Financial Markets and Economic Wrapup


Tuesday, July 3, 2018

The Daily Economist update for July 3 2018 - Financial Markets and Economic Wrapup


Evidence is mounting that central banks are preparing for the end of the dollar by pegging their currencies to gold through the SDR

In a very interesting piece of analysis published recently by Dr. Jim Rickards, it is appearing more and more that the start of the recent bull market for gold in early 2016 is coinciding with central banks starting to peg their currencies to the price of that precious metal.  And in addition, these banks are using the SDR as the benchmark for this... meaning that not only are they expecting the SDR to soon replace the dollar as the sole global reserve currency, but that it will also now hold gold as one of its components in its basket of currencies.

Source: D. H. Bauer 
Here’s what DHB discovered. Before China joined the SDR, both the dollar price of gold and the SDR price of gold were volatile. After China joined the SDR, the dollar price of gold continued to be volatile, but the SDR price of gold exhibited much less volatility, especially after the first few months. 
Most importantly, the trend line of SDR/GLD is a near-perfect horizontal line.
In short, world money has now been pegged to gold at a rate of SDR900 = 1 ounce of gold. It’s a new gold standard using the IMF’s world money. 
There’s the GMR right in front of your eyes. 
It takes a while to sink in. Why did SDR/GLD go from normal volatility to no volatility overnight? The straight-line behavior of SDR/GLD after the Chinese yuan joined the SDR is impossible without some kind of intervention or manipulation. The odds of this happening randomly are infinitesimal. 
The SDR/GLD horizontal trend line after Oct. 1, 2016, is an example of what statisticians call autoregression. This only appears if there’s a recursive function (a “feedback loop”) or manipulation or if it’s presented as a fraud. This is how Harry Markopolos spotted the Bernie Madoff fraud; Madoff’s returns were too steady and consistent to be real given the volatile nature of capital markets. - Goldcore
As you can see from the chart below, gold bottomed out in December of 2015 and began a new move upward at the same time the SDR appeared to peg itself to the gold price in 2016.


However Rickards is not the only one to comment on the work of DH Bauer as GATA has also put in their own addendum to Jim's analysis.
Rickards writes: "In short, world money has now been pegged to gold at a rate of SDR 900 to 1 ounce of gold. It's a new gold standard using the IMF's world money. There's the global monetary reset right in front of your eyes." 
The charts contained in Rickards' letter are not reproduced in GoldCore's reprinting but they show the gold price measured in SDRs presenting a nearly horizontal line for the last year and a half. 
Of course if the gold price and SDR valuation are now locked together, this doesn't just mean that central banks are rigging the gold market. It means that every major central bank in the world is aware of and complicit in the rigging, likely preparing for another international currency revaluation, this time one in which gold is to be a major component, a revaluation that will change the value of all capital, labor, goods, and currency in the world. - Goldseek
What both of these agencies do agree upon however, is that betting on the dollar, yuan, or SDR is not the best haven of protection.  Instead Rickard's succinctly ends his letter by telling us exactly what will be the foundation of any currency reset or valuation that comes to pass...
"My advice under these circumstances is simple. Dump dollars, yuan and SDRs (if you have any) and get gold
That’s where the whole world is heading."

Gold regains $1250 and silver $16 as buying in Asia ramps up here in July

After several weeks of downward movements in the gold and silver markets, July 3 saw what potentially could be a bottom for the precious metals.

With the dollar giving up some gains from yesterday when it climbed back over 95 on the index, a combination of this and two other events may be creating a catalyst for gold and silver prices to regain momentum, especially after they rebounded to $1250 and $16 respectively this morning.

Gold futures on Comex staged a solid comeback from the lowest levels seen since July last year, and now looks to regain the $ 1250 mark heading into the US factory orders data.   
The yellow metal’s rebound today, is mainly driven by the US dollar slide across its main competitors, as markets resort to repositioning ahead of the US Independence Day holiday and July 6 tariffs deadline. 
The greenback’s decline can be also attributed to the flattening of the Treasury yield curve, the spread between the 10-year and 2-year Treasury yields, which is at the flattest since 2017. - FX Street
In addition to the dollar's pullback today, news that JP Morgan has been buying back millions of ounces of short gold contracts from the Comex may also have something to do with today's $15 move in the gold price.
The COMEX gold market structure, by virtue of recent aggressive managed money selling, is easily capable of a sudden rally of $100 or more. After all, the price of gold is now $50 below its key moving averages and the commercials would have little trouble rigging prices higher to the moving averages and an equivalent amount above. This is, after all, the main, if not sole driver of price and what the rinse and repeat cycle is all about. But what makes it special this time is JPMorgan’s pronounced buyback of short positions. 
By buying back at least 50,000 gold short contracts, the equivalent of 5 million oz, JPMorgan has just sidestepped the loss of $500 million should gold rally a quick $100 an ounce, as seems almost inevitable given the overall market structure.  - Silver Doctors
Finally, it also appears that the demand from Asia that has been lacking over the past few months has reversed at the Shanghai Gold Exchange as buying over the past 10 days has increased quite a bit.
Asian buying of gold has picked up lately as the price has fallen, and this may slow any further price declines in the precious metal, says Mitsubishi. “With gold prices down at six-month lows, Chinese buyers have been very assertive of late,” the firm says. Turnover on the Shanghai Gold Exchange’s gold contract has been 11.5% higher in the last 10 days, compared to the same period in 2017, the firm says. “The average local price of gold has been 21% lower in this period than a year ago, leading to a good deal of opportunistic buying from the local jewelry and bar fabrication business, despite the retail market in general being quite quiet,” Mitsubishi continues. “Chinese and wider Asian buying demand ought to continue to cushion further price drops in gold.” - Kitco
The summer months are traditionally the biggest downtime for gold as both volume and investors stay out of this market in favor of other assets.  But with the ongoing trade wars between the U.S. and China creating volatility in the currency markets, a return of the gold bull market may be occurring sooner than usual here in July.

Monday, July 2, 2018

Need for global financial reset growing since IMF analysis shows GDP has only doubled in last 20 years while debt has grown by over 320%

One of the primary reasons why we are seeing more and more rumblings about both a global financial and currency reset is in large part due to the fact that central banks have lost control over their monetary policies.  By this we mean that over the past 20 years, the ever growing use of debt and credit to stimulate economies has resulted in less return on their dollars/euros/yen/yuan, etc..., or a validation of the Law of Diminishing Returns.

Chart courtesy of SRS Rocco
Over the last 20 years, the IMF estimates that global debt has increased from $74 trillion to $238 trillion while the global economy has grown at about half that rate, from $36.5 trillion to $79.6 trillion. This process is creating financial claims on the real economy that far exceed the increase in production of goods and services. - Equities
At some point, this ratio of debt creation to gdp growth will reach exponential proportions, and is a significant factor in governments and central banks all beginning to conduct serious talks on bringing about a reset to the financial and monetary system.
The Bank recognises that a new economy, a new world and new demographics demand a new financial system. 
While we prepare for great change, we will be guided by one constant: our mission to promote the good of the people we all serve. 
This infrastructure must be overhauled now that the economy is on the cusp of the fourth industrial revolution and our demographic challenges are intensifying. 
And rebalancing of the global order is proving as dramatic as it was in Montagu Norman’s time. 
Such profound changes demand a new finance. 
We now have a balance sheet fit for a new world order with greater reliance on markets in a wider range of reserve currencies. - Silver Doctors
However how each individual nation to preparing for this is an interesting dichotomy unto itself.  In the East for example, nations like China, Russia, the Brics, and Turkey are accumulating gold at a record pace, while also constructing financial platforms such as CIPS and the AIIB to absorb the functions of both SWIFT and the IMF should these institutions collapse during a black swan event or through mutual decision.

Unfortunately in both the U.S. and in Europe, their answer appears to be the doubling down on their debt creation until the system simply implodes upon itself as it nearly did 10 years ago.

Both the world and individuals nations have gone through financial and currency resets numerous times over the course of history, and primarily when a particular empire no longer has the capability of dominating the world's financial system.  But unlike previous times such as with Spain, Rome, France, or Britain, the current system is not run on a gold or silver standard, which means that the reset will be much harsher to the common person since it will require a halving or worse of their current standard of living.

While Bitcoin's price rebounded 12% over the weekend, 800 cryptocurrencies now priced under a penny

Is it feasible to now compare much of the cryptocurrency sector as a 'penny stock' play?  That is certainly becoming a growing question as 800 cryptos now have fallen to the point where their price point is below .01.

Inevitably the majority of traders focus on top cryptos like Bitcoin, which itself rebounded over 12% this weekend to climb back up towards $7000 a coin.  However day traders like to dabble into lesser named and more volatile coins, and it seems now that nearly half the crypto market is relegated to price action in the penny stock range.

Cryptocurrency projects have been popping up left, right and center in the past 18 months, but over 800 of those are now dead, adding to comparisons between the current digital coin market and the dotcom bubble in 2000. 
New digital tokens are created via a process known as an initial coin offering (ICO) where a start-up can issue a new coin which investors can buy. The investor doesn't get an equity stake in the company, but the cryptocurrency that they buy can be used on the company's product. People usually buy into an ICO because the coins are cheap and could offer big returns in the future. 
There has been an explosion in ICOs. Companies raised $3.8 billion via ICOs in 2017, but in 2018 so far, this number has already shot up to $11.9 billion, according to CoinSchedule, a website that tracks the market. 
However, hundreds of these projects are now dead because they were scams, a joke or the product hasn't materialized. Dead Coins is a website that lists all the cryptocurrencies that fall into those categories. So far, it has identified just over 800 digital tokens that it considers dead. These coins are worthless and trade at less than 1 cent. - CNBC

Sunday, July 1, 2018

U.S. and London's domination over the gold price may be numbered as Dubai posts a new record for gold trading

With the advent of the Shanghai Gold Exchange becoming the world's largest physical gold market, it is only a matter of time before the U.S. and London lose control over determining the global gold price.  And perhaps that time may be coming sooner than analysts think with news out on July 1 that Dubai just experienced their greatest amount of gold trading in their history.

Dubai Gold and Commodities Exchange (DGCX) has recorded its best ever first half in its 13-year history, trading over 11,300,000 contracts so far in 2018, up 44 per cent year-on-year (Y-O-Y).  
Traded value for the first six months of 2018 breached $250 billion for the first time too, said a statement from DGCX.  
The exchange’s record-breaking performance was sealed following a robust month of trading in June, which saw 2.04 million contracts traded, up 74 per cent from June last year. This month's traded value reached $42.3 billion. - Zawya
With little eligible gold to backstop their contracts, both the Comex and LBMA markets are little more than derivative trading platforms used by central banks to depress the price of gold, and prop up fist currencies like the dollar and euro.

At a certain point when China achieves critical mass with their new Yuan-denominated oil contract, it is expected that gold will be used as a backstop for the currency in aiding to replace the Petrodollar system.  And when that time comes, Middle Eastern gold markets such as the one in Dubai, and Asian ones in Shanghai and Hong Kong, will become the new standard for price setting since them who actually hold the gold do make the rules.

Gold holders need to continue to ignore the manipulated paper spot price as nations and pension funds ditch ETF's for physical gold

In finance as in physics, there is always an equal and opposite reaction anytime natural forces are corrupted by either 'acts of God' or human engineered manipulation.  And perhaps no current market is showing this truth better than with the gold market.

With the Comex having to ship their paper contracts over to the UK at an ever increasing and alarming rate because their price manipulation has far exceeded the physical stock backing these contracts, the decline in spot prices has allowed nations, central banks, and now even pension funds to find it more lucrative to ditch ETF's in favor of acquiring physical gold.

Another country is betting on physical gold. Switzerland's pension fund has boosted its investments in bullion, switching from the paper-backed securities in US dollars.  
“The Swiss government Pension System decided to change from paper gold in the amount of 700 million CHF into physical gold and store it in Switzerland. The 700 million only stands for 2 percent of the total assets, but it is quite a surprise that they do this,” Claudio Grass, an independent precious metals advisor and Mises Ambassador told RT.com. 
According to Grass, it is a strong signal that people should take seriously, since a pension fund is an investment vehicle that has a long-term strategy. 
“Physical gold is the best way to hedge as well as to accumulate wealth over decades. If you would have purchased for $100,000 gold in mid 70ties the holding without doing anything would be worth more than $2 million,” the analyst said. Another factor why the pension fund demanded physical gold was that they understand that paper gold just represents a claim on gold in a highly paper-leveraged gold market, Grass explained. - Russia Today
Ironically very few individuals or institutions are actually selling their physical gold back into the markets, but what is saving the gold paper scheme is the combination of contract holders not demanding widescale delivery, and the public not getting in at these depressed prices due to their price momentum over value mentality.  However this may soon change since the fundamentals for another financial and liquidity crisis are rearing their heads even now, and the amount of contracts the U.S. must offshore to sustain their own paper markets is quickly reaching dire proportions.

Friday, June 29, 2018

Here is the reason why the Democrats are going absolutely nuts over abortion in light of an upcoming new Supreme Court Justice

With so many problems and issues plaguing America here in 2018, one has to ask a rather curious question following the announcement by Supreme Court Justice Anthony Kennedy of his pending retirement... why are so many Democrats going absolutely nuts over the fear that the next Justice could overturn the right for women to have an abortion?

The answer to this lies in the fact that the 1972 Roe v. Wade ruling is extraordinarily tenuous.  By this I mean that the right to abortion is not a Constitutional right, nor is it a law enacted by the legislature.  No the right for women to solely decide on the outcome of their reproductive process is based simply on the opinions and decisions of Justices 40 years ago at a time when America was on fire with activism and civil rights fervor.


In any and every society, the pendulum swings back and forth over time from liberalism to conservatism, from morality to anarchy, and of course, back again the opposite way.  During the 1950's America was a strongly religious and moralistic society that one decade later turned into one of extreme radicalism and change.  Additionally, the 1980's, 90's, and 2000's were one of greed and materialism only to be followed after the 2008 Financial crisis by one where the rich are vilified, and the millennial generation is decidedly non-materialistic.

The Democrats in Congress are desperate to try to cowtow President Trump into appointing a moderate or even liberal Justice to the Supreme Court to protect their monopoly of liberal rulings.  And perhaps most interestingly, some are using the straw man of demanding the next judge rely primarily on precedent rather than the Constitution itself in deciding cases.
U.S. Senate Democratic leader Charles Schumer said on Wednesday the Senate should reject any Supreme Court nominee put forth by President Donald Trump who would vote to overturn the Roe v. Wade abortion decision or "undermine" healthcare protections. 
In a speech on the Senate floor shortly after Supreme Court Justice Anthony Kennedy announced that he was retiring, Schumer said, “The Senate should reject on a bipartisan basis any justice who would overturn Roe v. Wade, undermine key healthcare protections.” Schumer said. - WDEZ
The irony of course is that if Supreme Court Justices relied solely on precedent, then blacks in America would still be under Jim Crow laws in some areas since the right to separate but equal came from a Supreme Court ruling on the issue back in 1896 via Plessy v. Ferguson.
Plessy v. Ferguson, 163 U.S. 537 (1896), was a landmark decision of the U.S. Supreme Court issued in 1896. It upheld the constitutionality of racial segregation laws for public facilities as long as the segregated facilities were equal in quality - a doctrine that came to be known as "separate but equal".
Yet because the Supreme Court in the 1950's saw that separate but equal was not legal under the Constitution, the Justices overturned Plessy v. Ferguson in their landmark Brown v. Board of Education ruling which made discrimination through color or race illegal.

It has been estimated that ever since Roe v. Wade was passed 46 years ago, over 60 million American children have been aborted in the womb, and primarily because of convenience versus any potential health issue to the mother.  And with much of the industrialized world undergoing a radical change where birth rates in Europe, Russia, Japan, and even the United States have dropped below replacement levels, the fact that abortion on demand has become easy due to the opinions of a single court back 40 years ago that a woman could hold the power over life and death in regards to the natural cycle of reproduction has inevitably created a scenario here in the 21st century that could see the end of one or more civilizations as we know it if it is allowed to continue.

Thursday, June 28, 2018

2008 part deux: Global financial system rushing headlong towards a combined debt and liquidity crisis

For all intents and purposes the global financial system died in October of 2008 following a liquidity crisis that was only stemmed through the interventions of governments and central banks.  But in the aftermath of that crisis, these same entities would need to continuously fuel the system with ever increasing amounts of debt and liquidity just to prop up the dead financial corpse.

10 years later the world once again appears to be standing on that same liquidity precipice, only this time it is much, much worse since it is being coupled with a global debt crisis that is exponentially spiraling out of control.  And sadly because central banks themselves are virtually insolvent by having so much debt on their balance sheets, it is not only the banks that stand to lose when the whole scheme starts to collapse.

Emerging-market debt crises are as predictable as spring rain. They happen every 15-20 years, with a few variations and exceptions. 
It has been 20 years since the last EM debt crisis and 10 years since the last global financial crisis. EM lending has been proceeding at a record pace. Once again, hot money from the U.S. and Europe is chasing high yields in EMs, especially the BRICS (Brazil, Russia, India, China and South Africa) and the next tier of nations including Turkey, Indonesia and Argentina. 
Argentina’s ratio of debts and deficits to reserves is over 120%. The ratio for Venezuela is about 100%, and Venezuela is a major oil exporter. 
These metrics don’t merely forecast an EM debt crisis in the future. The debt crisis has already begun. 
Venezuela has defaulted on some of its external debt, and litigation with creditors and seizure of certain assets is underway. Argentina’s reserves have been severely depleted defending its currency, and it has turned to the IMF for emergency funding. 
Ukraine, South Africa and Chile are also highly vulnerable to a run on their reserves and a default on their external dollar-denominated debt. Russia is in a relatively strong position because it has relatively little external debt. China has huge external debts but also has huge reserves, over $3 trillion, to deal with those debts. 
The problem is not individual sovereign defaults; those are bound to occur. The problem is contagion. - Daily Recknoing
In just the past month Argentina received the largest bailout from the IMF in their history.  and Venezuela's attempt at an oil backed cryptocurrency appears to have stalled, with their inflation rate now sitting at 8100%.  In addition, the Fed is attempting to slow down expansion by raising rates and lessening their balance sheets, and Russia has just announced their are doing the same by raising taxes.

And then there is China... who's debt just reached $30 trillion earlier this month.

All this means of course is that the liquidity that helped spur on emerging market growth, and rebuild housing and equity bubbles around the world, is suddenly being shutoff.  And it was that same halt in liquidity back in 2008 that brought down the entire financial system in a little less than a week.
That whooshing sound you hear is the draining of $1.4 trillion worth of global liquidity.
Quantitative tightening, or the unwinding of central banks’ extraordinary stimulus, has been the primary driver of asset-class performance this year, Bank of America Merrill Lynch analysts say. The march higher in U.S. interest rates and tighter financial conditions mean securities that did well during quantitative easing, such as corporate bonds and emerging-market debt, are now underperforming, while “QE losers” have become stars. 
The year marks a shift in a tide of global liquidity that helped push up asset prices, according to Merrill Lynch’s analysis. Securities purchases from the Fed, European Central Bank and Bank of Japan are just $125 billion year-to-date, well below the $1.5 trillion run-rate of 2017, they estimate. That suggests markets are missing an injection of some $1.38 trillion thanks to policy makers changing tack. - Bloomberg
Central bank heads admitted back in 2008 they never saw the financial crisis coming, but contrary to the fact that as a whole they are telling the public that everything is fine, behind the scenes they are preparing for not only the collapse of the current system, but the advent of a new one.  And like back in October of 2008, it will come swiftly and nearly overnight, and if you aren't prepared now, you will not get the chance when the system you know today suddenly no longer exists. 

Cryptocurrency mania hits the NBA as Sacramento Kings turn their arena into a crypto mining operation

Perhaps it should not be surprising that since many in the rapper community have jumped on the crypto bandwagon, the sport most in their urban communities claim as their own has found crypto's also to their liking.  And on June 27 the Sacramento Kings have become the newest NBA franchise to embrace cryptocurrencies, even to the point where they are allowing their solar powered arena to be used as a crypto mining operation.

From a solar-powered sports arena, to bitcoin and now cryptocurrency mining, the Sacramento Kings are back at it, setting the stages for yet another technological blueprint in the technology sector. The NBA organization announced Wednesday, that it has partnered with global cryptocurrency leader, MiningStore.com, to become the first sports team in the world to mine digital currency. That’s right, the Kings can add another “first’ to its scoreboard of ever-growing technological innovations. 
The Kings are going crypto! The NBA is going crypto! And, so should fans! - Forbes
While the Sacramento Kings franchise appears to be the first NBA team to embrace cryptocurrencies, their owners are not the first to see crypto's and the blockchain as a potential vehicle to help the sport.  No that trophy goes to Dallas Maverick's owner Mark Cuban who last year signed on to co-found a blockchain based sports betting ICO using the proprietary UniKoin platform.

Wednesday, June 27, 2018

The Daily Economist update for June 27 2018 - Financial Markets and Economic Wrapup


It only took two years, but now a majority of Americans believe the Mainstream Media is Fake News

When CNN attempted to create a narrative that the Alternative Media was Fake News, then Presidential candidate Donald Trump cleverly co-opted that term and turned it against the Mainstream media itself.  And very quickly, the public more and more began to scrutinize CNN, ABC, NBC, MSNBC and the like and found more often than not that much of what they publish or broadcast was indeed manipulated news.

Now less than two years into his Administration, we can add another 'Win' to the Trump column as a new poll out shows that the majority of Americans fully believe the Mainstream Media is guilty of creating fake news, with even 53% of Democrats coming to this realization.
In what looks like a validation of the growing public expressions of anger directed at members of the media, a new Axios poll found that nearly all (a staggering 92%) of Republicans and Republican-leaning independents believe that mainstream media organizations knowingly report false or misleading stories, at least occasionally. And while Democrats proved to be the most credulous group, a majority still doubt that US media organizations are 100% credible. 
All told, 72% of respondents said they believe mainstream media organizations to be knowingly misleading. Other studies from Gallup and Pew Research Center have drawn similar conclusions, with Democrats, unsurprisingly, revealed as the only group that still has any substantial level of trust in the media. Back in the 1970s, trust in media rose as high as 74% during the aftermath of Watergate. - Zerohedge
For years trust in the media has been nearly as low as trust in politicians, with a majority of voters even believing that they carry political bias towards both candidates and parties.

Thanks to exposes that validate even the CIA participates in constructing narratives within the mainstream media, the alternative media has grown and evolved to become some of the best journalism in the West.  And it appears now that the tide has officially turned as the days of Walter Cronkite are over, and the era of George Orwell has begun.

Supreme Court dents Democratic Party slush fund as high court rules unions can't force non-members to pay

The hits just keep on coming from the new majority conservative Supreme Court since on June 27, the judicial body ruled that stats and unions can no longer force non-members to have to pay dues or fees if they so choose.

Long believed to be more of a Democratic Party slush fund since a study showed that 99% of member dues actually went to liberal politicians and causes rather than supporting the union activities, this ruling will have a serious affect on lobbying, campaign contributions, and activist organizations.

An exhaustive new study from the Center for Union Facts (CUF) crunched the numbers on union political spending, tracking down where members’ dues ended up. Nearly $140 million — about 99 percent of all union political contributions — went to Democrats and liberal causes, the study found. 
“I believe what this illustrates is that union members have very little control over their own dues money, which is supposed to be for collective bargaining — but a whole lot of it is going to political causes and political advocacy,” says Richard Berman, executive director of CUF. 
Planned Parenthood and its advocacy nonprofit received $435,000 in 2014 from unions spending their members’ dues. Most of it came from the American Federation of State, County, and Municipal Employees, CUF says.
In 2014, major unions also gave more than $680,000 to Al Sharpton’s tax-indebted nonprofit, the National Action Network, and more than $108,000 to Jesse Jackson’s Rainbow/PUSH Coalition. - National Review
Besides using the majority of their dues/fees for political reasons, a large number of unions are also being scrutinized for mishandling billions of dollars in pension contributions, which have made union sponsored retirement programs extraordinarily underfunded.

As we come into the home stretch of the 2018 mid-term elections, an already underfunded Democratic Party just got hit with a sledgehammer of a ruling which will definitely hurt their campaign spending dreams, and balance sheet bottom lines.

Tuesday, June 26, 2018

Marijuana going mainstream as FDA approves first ever cannabis based medicine

In an interesting and perhaps even groundbreaking sea-change, the FDA on June 25 approved the first ever cannabis based prescription medicine meant to aid on the treatment of rare forms of epilepsy and two other diseases.

The Food and Drug Administration has approved the first-ever cannabis-based prescription medication. The oral drug Epidiolex is intended for patients to treat two rare, and severe forms of epilepsy—Lennox-Gastaut syndrome and Dravet syndrome.

Epidiolex contains cannabidiol, one of the chemicals found in marijuana, however, it will not produce a high that is commonly seen in THC. FDA commissioner Dr. Scott Gottlieb stressed in a statement that approval of the drug wasn’t a co-sign for marijuana, but just for "one specific CBD medication for a specific use." It also marks a landmark moment in the agency’s advancement in considering cannabis for medical purposes.  
"This approval serves as a reminder that advancing sound development programs that properly evaluate active ingredients contained in marijuana can lead to important medical therapies. And, the FDA is committed to this kind of careful scientific research and drug development," Dr. Gottlieb said. "Controlled clinical trials testing the safety and efficacy of a drug, along with careful review through the FDA’s drug approval process, is the most appropriate way to bring marijuana-derived treatments to patients." - Complex
Hopefully this approval now opens the door for more research and acceptance of cannabis to one day replace opioid based drugs for pain relief that have spawned a severe and very real epidemic among America's patients.

Karatbars gold backed cryptocurrency now listed on a major crypto exchange

While cryptocurrencies as a whole have been hemorrhaging market cap during the first six months of 2018, it has not stopped a growing number of resource backed ones from being initiated or ICO'd.  And the newest one to get picked up by a major crypto exchange is that of KaratGold Coin.

Karatbars has been long known as a company that provides affordable gold backed by LBMA certified refiners in 1, 2.5, and 5 gram increments, and has been working to facilitate their products as a medium of exchange with the retail community.  However a decision by Karatbars to join the cryptocurrency phenomenon has led to one of the biggest ICO's in history to date.

KaratBars International is pleased to announce that their gold-based cryptocurrency KaratGold Coin (KBC) has been enlisted recently in HitBTC, one of the leading cryptocurrency exchanges. The first ever cryptocurrency to tie its value to the price of gold, KaratGold Coin has recently concluded one of the most successful ICO campaigns ever with a collection of well over one hundred million US Dollars. 
The architecture of the KaratGold Coin (KBC) ecosystem is based on the safe, cost-efficient and fast Ethereum blockchain protocol and proven financial hedging strategies.  Unlike many other utility tokens, this coin has been designed to be a crypto asset backed by a certain tangible amount of gold. As a result, the long term stability of the coin is ensured by its gold collateral. - Null TX
While there are now over 40 different gold backed cryptocurrencies in the crypto sector, Karatbars stands out due to the fact that they have been a proven and viable gold company since 2011.  And with their being picked up by a major crypto exchange here on June 25, it will only increase their exposure in both the physical and cryptocurrency gold markets.

The battle lines are being drawn between gold and fiat as the new global financial system draws nearer

We have written numerous times before about how the East is preparing for a return to some form of a gold standard while the West tries to hang on to a dying system of debt based fiat currency.  And with the heads of the IMF and Bank of England are both signalling that the world is well underway towards the transition to a new global financial system, the battle lines are being drawn as to which side will win out.

Ironically it is not completely divided between East and West, as a few European governments have been hedging their bets by repatriating their gold from offshore over the past few years.  But the race to accumulate gold has been primarily relegated to a few countries such as Russia, China, India, and Turkey, where combined they hold very powerful 'Trump Cards' as their economies, and along with the rest of the BRICS nations, make up 40% of the world's population.

The world now, under very different circumstances, is once again considering official use of gold in the monetary system. A growing consensus agrees that a world-wide monetary crisis is fast approaching and once again the importance of gold as money is being discussed. Those who benefit from the fiat dollar standard are not pleased with this renewed interest in gold, nor with the possibilities that blockchain technology may provide a nongovernment alternative to the current system of money and banking. The principle of gold as money has been acknowledged for thousands of years and is not going to be ignored any time soon. 
The current financial chaos brought back the debate over the exact role gold should play in the international monetary system. There are many signs that various governments are considering using gold as an alternative to the fiat dollar. China for the past three years has been a net seller of dollar denominated assets and a major importer of gold. It is making an effort to popularize a gold Yuan to be used in place of the dollar in international oil transactions. China may well have more clout in this endeavor than is generally realized. Other countries like Russia, India and Brazil are cheering the Chinese on and are net purchasers of gold. The US, picking a fight in a senseless trade war with China, only adds to that country’s resolve to stand up to our domineering attitude. - Mises Wire
In addition to these countries seeking to not only accumulate but also integrate gold into the global monetary system, smaller ones like Zimbabwe are themselves seriously looking at backing their currency with gold and other resources.

One of the consequences of 2008 has been the rapidly increasing debt that both nations and the world combined have been accumulating to simply keep the financial system alive.  In fact ever since 2008 when global central banks began policies of direct intervention, the amount of global debt has increased by $57 trillion by 2015, with 2017 alone adding an additional $16 trillion to bring that total to $233 trillion.

Ie... not only is that debt unsustainable, but it will continue to increase exponentially until a complete reset is done.

How long it will take to usher in a new financial framework is uncertain, however judging by the fact that European banks and the EU itself stands on the brink of insolvency, and even the U.S. under President Trump is offering more 'butter' than 'bullets' in foreign policy decisions, it is likely that the plans to transition into a new financial system are well underway, and those who are fighting it are perhaps the ones who are quickly being ousted from power (Merkel, Theresa May, etc...).

Monday, June 25, 2018

Central banker lets slip that Global Financial Reset is underway as government's prepare for collapse of current system

For anyone who does even a modicum of research, the 2008 financial crash was not just a cyclical 'bump' in the credit cycle, but an actual death event for the entire financial system.  And this is primarily why central banks like the Fed, ECB, and BOJ have had to constantly fund their 'life support patient' with endless amounts of QE, Zero percent Interest Rates, and even Negative Rates.

In fact despite the reality of tens of trillions of dollars printed and monetized by the central banks over the past seven years in both the U.S. and in Europe, most banks remain underfunded, and pretty much insolvent if they had to administer true accounting practices.

Deutsche Bank is 'technically insolvent': Expert from CNBC.

Since around 2013, Asian and Eurasian economies such as Russia, China, India, and even Kyrgyzstan have been preparing for a post Petrodollar world, and one no longer controlled by the Western central banks.  And even in Europe, nations such as Germany, Austria, and the Netherlands have all done the unprecedented move of recalling their gold reserves back from the U.S. into their own vaults.

But while those who pay attention to the alternative financial media have heard numerous times that we are preparing for a great 'Global Financial and Currency Reset', only trickles of information has come from leaders on the reality of this paradigm shift.

Until now?

On June 21 the head of the UK's central bank (Bank of England) gave a speech in which he emphasized that the global financial system is moving rapidly towards a 'New World Order', which in this case is political speak for the global currency reset.

The race is definitely on as to who will be dictating the terms of the reset. 
Everybody has their eyes on China and Russia, thinking they join forces to form the dominance in the global economy to push out the dollar and elevate China to world reserve currency status, or elevate a combination of China and Russia to world reserve currency status with a gold and/or silver backing in this new monetary system, perhaps even with a return to gold and silver via a Chinese Gold-backed Yuan and a Russian Silver Ruble. 
Well, it’s not only the East that is actively working on the global reset. 
England seems to frantically be in the race as well. 
Yesterday, Bank of England Governor Mark Carney gave a speech, and it wall basically all about the coming reset. 
That phrase that we all can’t stand - the “new world order”. 
Yup.  It’s coming. 
Its a very long, super boring speech, but I’ve read between the lines, and I want to show you some of the thing he has said, so that you can come to your own conclusions as to what is going on. 
To me, it speaks to the end of the dollar dominated world and the coming reset and re-ordering of the global monetary system 
Here’s some of the things he said in no particular order (bold and red bold added by Half Dollar for emphasis): 
The Bank recognises that a new economy, a new world and new demographics demand a new financial system. 
While we prepare for great change, we will be guided by one constant: our mission to promote the good of the people we all serve. 
This infrastructure must be overhauled now that the economy is on the cusp of the fourth industrial revolution and our demographic challenges are intensifying. 
And rebalancing of the global order is proving as dramatic as it was in Montagu Norman’s time. 
Such profound changes demand a new finance. 
We now have a balance sheet fit for a new world order with greater reliance on markets in a wider range of reserve currencies. - Silver Doctors
The average citizen will NEVER receive warning from either governments or the financial powers unless they are able to read between the lines in speeches such as this one on what is being worked on, and what is coming.  Because all one has to do is remember back in 2008 when CNBC went out of their way to tell us how solvent and stable Bear Stearns was, only to see it vanish forever just four days later, with Congress having to push through a bailout under the guise that this crisis could bring about the institution of Martial Law.

Bitcoin doesn't even make the top 15 as China designates EOS as the world's best cryptocurrency

On June 25, China's Center for Information Industry Development (CIID) published a list of what they see are the top cryptocurrencies.  And astoundingly this organization with ties to the Chinese government named EOS as the world's best cryptocurrency, while at the same time demoting Bitcoin to number 17 on the list.

China’s Center for Information Industry Development (CCID) has published the second edition of its Global Public Chain Technology Evaluation Index. The publication, which evaluated 30 cryptocurrencies, concluded that EOS is the top cryptocurrency based on technology, application and innovation. 
EOS received the top ranking due to its “outstanding technical advantages in transaction confirmation efficiency, network throughput, and transaction costs,” the report said.
The report gave the nos. 2 and 3 spots to Ethereum and NEO, respectively. Ethereum was the top-ranked cryptocurrency when the first version of the report circulated back in May. 
The top-15 projects are ranked in order below: 
  1. EOS
  1. Ethereum
  1. NEO
  1. Stellar
  1. Lisk
  1. Nebulas
  1. Steem
  1. BitShares
  1. Ripple
  1. Qtum
  1. Waves
  1. Cardano
  1. Monero
  1. Ark
  1. Ethereum Classic
Bitocoin, the first and largest cryptocurrency by market cap, was ranked all the way down at no. 17. Komodo, which was ranked no. 5 in the first version of the scorecard, dropped to 16. - Hacked
EOS is a blockchain platform with its own cryptocurrency that uses the security and decentralization inherent with Bitcoin and couples it with the transactional efficiency of Ethereum to build a system for Smart Contracts. 

Sunday, June 24, 2018

Cryptocurrencies hemorrhage another $20 billion in market cap overnight as Bitcoin falls below $6000 per coin

The cryptocurrency bloodbath continues as for the second straight day the cryptocurrency sector as a whole fell nearly across the board.

Led by Bitcoin, which fell below the $6000 handle for the first time in several months, the sector hemorrhaged another $20 billion in market cap to sit at around $241 billion.

From $260 billion to $241 billion, the valuation of the cryptocurrency market has dropped by over $19 billion in the past 24 hours, as major cryptocurrencies including bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS fell by large margins. 
For a third day in a row, EOS, the delegated proof-of-stake (PoS) network based on the Ethereum blockchain protocol, has recorded the biggest loss amongst major cryptocurrencies. On June 24, EOS recorded a loss of 13 percent, while BTC, ETH, XRP, and BCH fell 3.5%, 4.6%, 5.8%, and 8.5% respectively. - CCN

At its height back in December of last year, the total market cap for cryptocurrencies was above $850 billion, with most analysts expecting it to reach the $1 trillion mark early in 2018.  However thanks to Wall Street entering into the market around Dec. 17 with the first Bitcoin futures contract, the sector as a whole has seen declines of nearly 70%.

Saturday, June 23, 2018

The Daily Economist update for June 23 2018 - Gold, Bitcoin, and Cryptocurrency Report


The cryptocurrency market appears to have reached the point similar to the end of the Dot Com bubble era

At the tail end of the now famous Dot Com bubble, company IPO's were being gobbled up at a record pace, with investors over-inflating the values of these businesses despite the fact they had no track records, profits, or viable products.  Yet of all the different asset classes and sectors created since that time, the one that stands out as eerily similar of course is that of cryptocurrencies.

The cryptocurrency market emerged in 2009 following the aftermath of the 2008 Finance Crisis, but the sector really didn't gain serious headway until the Fed had been deep into their monetary expansion policies, similar to what Alan Greenspan did under the Clinton Administration which led to the tech boom.  And 2017 saw not only a parabolic rise in Bitcoin and most cryptocurrencies, but the number of ICO's that emerged more than doubled the total amount of differing tokens in just 12 months.

And while 2018 has seen a retracement of the total market cap of all cryptocurrencies by nearly 70%, it has not stopped the implementation of new crypto's onto the market, which according to analysts are still being bought, and at prices much higher than their actual values.

Initial coin offerings (ICOs) continue to overflow the crypto universe, but bitcoin bull Brian Kelly told CNBC that the market is overvalued. 
He said investors are in a "wait-and-see mode." 
"People are starting to say, 'I'm going to put the brakes on the ICOs right now. I've got my portfolio. I don't need a seventh or eighth ICO,'" the cryptocurrency investor said on 
"Fast Money" Thursday. "To me, [ICOs are] not as hot as they used to be."
In fact, Kelly said the market for ICOs, or initial coin offerings, a crowdfunding way to raise funds for cryptocurrency ventures, is "very frothy." 
There have been more than 300 ICOs launched in the first half of 2018 — nearly the same amount as all of 2017. And to date, in the first six months of this year, more money has been raised. - CNBC

The battle between paper and physical markets to control the gold price may soon be coming to a head

On June 22, long time precious metals broker and analyst Andrew Maguire spoke in an interview on the state of the physical gold market and their growing decline in supplies to be able to meet global demand.  And in a dichotomy between the paper markets which use derivatives to control prices and the physical markets which are finding themselves without stock to keep up with demand, Maguire believes that very soon the tensions between the two markets will be very much coming to a head.

“The Dollar Index to foreign exchange gold conflict is reflective of a paper to physical battle, and given the absolute certainty that the physical kilobar market (as Swiss gold refiners have told me) is now backlogged 2 months out and extending, this battle will be resolved to the upside and soon… 
Andrew Maguire continues:  “All Swiss refiners are now fully booked out on all gold kilobar production until the end of July. Also, there is reliable feedback that China has been quietly forward purchasing (large) tonnage of refinery production since May and utilizing spot index positions to settle at delivery. With refinery order books now full for 2 months out, each day gold stays below $1,300, more tonnage orders are spot-indexed for delivery. And with order books already full, this backlog was already threatening to extend out into August. -  King World News
While last eight days saw the gold cartel severely crush prices to back below their 200 and 50 day moving averages, demand from central banks and institutions for gold at these discount prices have created shortages at the world's largest refiners.  And when there are no longer sufficient supplies of any commodity or currency to satisfy demand, as seen over a year ago when India decided to eliminate their highest denominations of currency, the results are more often than not a sharp and rapid rebound of the price to the upside.

Friday, June 22, 2018

Looking for an alternative to college to find the jobs of the future? Now there is a Vo-Tech where you can become educated in marijuana

With the value of a college education no longer commiserate with the inflated cost of going to school, there has been a great deal of talk lately about resurrecting the Tech and Vo-Tech higher learning models.  And for a generation of kids coming out of high school, as well as middle aged workers expected to lose their positions to A.I. or robotics, there is an alternative in what is expected to become the fastest growing industry over the next decade.

Meet the Cleveland School of Cannabis.

Thursday evening, nearly 40 men and women made history by becoming the first class to graduate from the Cleveland School of Cannabis. 
"I feel like we're making history. I really do," said graduate William Hutson. 
Hutson majored in horticulture. He believes his degree will set him apart from others eying the cannabis business. 
"I want to put my app in at the Buckeye Relief, so getting this today kind of helps me with that and furthering my career," he said. 
Graduates range in age. Some are fresh out of high school, while others are older and recently changed career paths. 
"What they all have in common is that they believe in the good that cannabis can serve, particularly as medicine, and they believe in the good cannabis can serve for the economy," said Jacob Wagner, Cleveland School of Cannabis Dean of Instruction and Student Services.  
"We have students who want to work at dispensaries as budtenders. We have students who are interested in processing, students who are interested in business, so you don't have to work directly in the industry," he said. - Cleveland 19

Following another large flash crash overnight, analysts see potential for Bitcoin to drop as low as $2500 per coin

After spending the last 10 days trading in a range of between $6200 and $6750, Bitcoin took a major hit overnight and flash crashed down towards $6100.  But what is most disconcerting to cryptocurrency enthusiasts and HODLers is that the lack of volume and momentum could see the cryptocurrency fall as far as $2500 according to some analysts.

Yesterday, Bill Baruch, President of Blue Line Futures, told CNBC bitcoin's "bottoming process can begin" following signs that volatility is "depressed" and that "selling has become exhausted". 
Luis Carranza, founder of London Fintech Week has responded by telling Express.co.uk that crypto has come a long way in 2018 and there are plenty of reasons to be "optimistic". 
He said: "Crypto is unpredictable. There are massive spikes and drops. $4500 could be the bottom, but there is nothing preventing $2500 from being the bottom. Likewise, as crypto becomes more mainstream the price tends to rise. Even if the price drops to $1000 there's nothing preventing another surge to $14,000." - UK Express
The most likely scenario for a Bitcoin bottom could come next month when the G-20 meets again in Buenos Aires.  That is because discussions on a global regulatory framework for both sovereign and de-centralized cryptocurrencies are on their docket.

It took four years but one retailer has proven Bitcoin can work as a medium of exchange

Back in 2014 when Bitcoin and cryptocurrencies were little more than a fringe asset class, one retailer decided to invest the time and effort to integrate the digital money into his sales platform.  And although it took four years to finally see some traction, the jeweler from Silicon Valley now has more sales in Bitcoin than he does in traditional credit cards.

Stephen Silver, the CEO at Stephen Silver Fine Jewelry, has revealed that after four years of integrating Bitcoin in 2014, cryptocurrency transactions have surpassed credit card sales at the retail shop and 20 percent of the company’s sales are now attributable to cryptocurrency. 
Silver, who had previously led Stephen Silver Fine Jewelry to become the first jewelry retailer in the world to accept cryptocurrency back in 2014, said: 
“Cryptocurrency has surpassed the volume of retail credit-card purchases in the company in a very short time period. We’ve created revenue that the company would not even enjoy without being able to accept cryptocurrency. Large sums of money are where we are finding cryptocurrency to be a huge advantage.” - BTC News
While the use of cryptocurrencies as a full medium of exchange has not caught on with most retail and service establishments, it does appear to work well in high end retail and with real estate transactions.  And since enough exchanges have arisen since 2014 to make the acceptance of Bitcoin and other cryptocurrencies possible, the only two things potentially standing in the way of it one day reaching a critical mass would be that of price stability, and improving the speed to transactions as the blockchain and technology progress. 

Momentum growing for Zimbabwe to return to a gold or resource backed currency

At a recent roundtable conference in Bulaways, Zimbabwe on June 15, the idea of backing the Zimbabwe currency with gold and other resources is growing in strength as both financial experts and the Deputy Finance Minister agreed that changes must be made to get the African nation out of its decades long malaise.

ZIMBABWE should re-introduce its own currency backed by commodities since bond notes and dollarisation has failed, financial expert Persistence Gwanyanya has said. 
Speaking during the CEO Africa Roundtable discussion in Bulawayo on Friday, Gwanyanya said the government needed to go back to the drawing board and come up with a permanent solution to the country's cash crisis. 
"What is a permanent solution to our cash crisis because it seems dollarisation has reached its sale by date, it would appear the best solution is for the country to re-introduce its own currency," he said.  
The plan, Gwanyanya said, would be executed through the forward sale of commodities to other countries. 
"It is easy to forward sale our gold production at $2 billion a year. If we forward sale it for five years, we get $10 billion, our tobacco production at $1 billion a year and if we forward sale it we get $5 billion. The same can be done to platinum." 
Speaking at the same event, Finance deputy minister Terence Mukupe concurred with Gwanyanya, saying the country needed to adopt its national currency. 
"We have to adopt a national currency without doubt and there has to be a cap on the maximum release of how much of the new currency you are going to put out. The numbers that are there right now are indicating that probably the maximum release should not be more than a billion dollars," he said.  - Bulawayo 24
Discussions on returning to a gold and/or diamond backed currency was first broached back in May of last year.  And as the world rushes towards de-dollarization, nations need to prepare their own economies for a day when they either can't, or no longer want to peg their currencies to the global reserve.