Silly Europe, sanctions are for MAGA

9:50 AM energy lng, europe, maga, president trump, russian sanctions, sanctions, the business of america is business No Comments

Perhaps the most disturbing dichotomy in U.S. history has been the fact that they have been touted as the most free and honest society in history, but have reneged on nearly every single treaty they signed.  And despite all the rhetoric on how free America is, and a beacon to the world, perhaps President Calvin Coolidge said it best when he stated that 'The business of America is business".

90 years later, and with an experienced businessman at the helm, it appears that this quote could not be more apropos as a new report out on Nov. 16 shows that while the U.S. is breaking their own sanctions against Russia when it comes to the importation of energy, at the same time they expect Europe and the rest of the world to suffer under those same sanctions.

Several cargo ships carrying liquefied natural gas (LNG) from Russia’s Yamal LNG plant have arrived in the US, Russia’s Foreign Ministry spokesperson Maria Zakharova announced, highlighting the obvious weirdness of the situation. 

“Oddly enough, with all this visible public flow of negative rhetoric from Washington, Russian liquefied natural gas is successfully being supplied to the US,” Zakharova said during the weekly press briefing. 

“Recently, at least three tankers with liquefied natural gas from the Russian Yamal LNG field on board have reached the US coast,” she added. 

US President Donald Trump has repeatedly urged the EU to look for alternatives to cheaper Russian gas, mostly delivered to Europe by pipelines. Last month, PGNiG, Poland’s gas company, signed a 20-year deal to buy liquefied natural gas (LNG) from the US. 

While promoting American LNG, Trump has repeatedly slammed Europe over its energy dependence on Russia, which he characterized as an unreliable partner. Earlier, Germany agreed to fund the building of a terminal for receiving American LNG. At the same time, Germany is participating in the implementation of the Nord Stream 2 gas pipeline project with Russia. – Russia Today

President Trump is the essence of Coolidge's famous quote, and more and more it is appearing that what Making America Great Again (MAGA) really means that its America first at the expense of everyone else.

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Chicago so desperate for money they are now taxing you 9% just for your amusement

9:19 AM amusement tax, bankrupt, chicago, homeless tax, illinois, san francisco, video games No Comments

By now many people know about San Francisco's 'Homeless Tax', where the city is preparing to invoke a new revenue scheme based on how many workers you have in your business.  But it appears that the City of Chicago does not want to be outdone by their West Coast neighbors and are themselves implementing a new tax on your amusement.

When they powered up their Playstations on Nov. 9, Gamers in the Windy City were furious to learn that they will now need to fork over a 9% levy to the city every time they pay for any of a suit of online services as Chicago steps up enforcement of its supremely unpopular Amusement Tax, which was expanded in 2015 to cover video games, streaming services and other digital-entertainment mediums. While some companies have resisted what they have decried as an overreach by city tax collectors, who are desperately trying to plug a massive budget hole while supporting some of the most under-funded public pensions in the country, Sony has become the latest video gaming company to acquiesce to the city's demands. Meanwhile, Nintendo and Microsoft (which owns Xbox) have been collecting the levies since 2015. 

According to the Chicago Tribune, the city’s amusement tax once only applied to concerts and sporting event tickets, but several streaming companies like Netflix and Hulu have bowed to the city's demands since the levy was first expanded. Apple, on the other hand, filed a lawsuit against the city back in August alleging that the tax on its streaming service was "illegal and discriminatory". The company isn't paying the tax while the case works its way through a Cook County court. 

Previously, a group of streaming companies including Netflix, Amazon Prime, Spotify, XBox Live and Hulu sued Chicago back in 2015 alleging that the tax was in violation of federal law. However, the judge ruled in the city’s favor in May. After an appeal, the case is awaiting a ruling from an appellate court. - Zerohedge

Is it any wonder why the state of Illinois is not only completely bankrupt, but also so corrupt and incompetent that they appear to be trying everything imaginable to make each of their citizens broke as well.

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First responders need an armed citizenry as London and Chicago prove that outlawing weapons only increases the violence

8:44 AM chicago, first responders, gun ban, guns, knife ban, knives, law enforcement, London, violence No Comments

In an interesting dichotomy between two different cities, both London and Chicago are proving out that not only does outlawing weapons fail in its agenda to curb violence, but also that law enforcement and first responders are powerless to protect the public.

In the UK for example, knives are banned for the most part (Including recent attempts to outlaw kitchen cutlery).  However this ban has not stopped stabbings and other knife violence from skyrocketing.

As if more evidence is needed that bans don’t work, the United Kingdom’s knife crime “epidemic” is soaring.  Even though there are incredibly strict knife control laws in the UK, public officials are declaring the knife violence a public health crisis. 

On Wednesday, London police responded to separate stabbings within hours of each other, the victims, a young boy believed to be in his teens and a man, were sent to the hospital with life-threatening or serious stab wounds, according to a report by Fox News. 

Of the five people stabbed this week, the youngest was a 15-year-old boy named Jay Hughes. Hughes was attacked outside a chicken shop in broad daylight. And that perfectly explains the horrific epidemic. During the first six months of the year, police recorded 39,332 knife crime offenses which is a 12 percent increase over last year, according to the Office for National Statistics. Other violent crimes, including murder and robbery, also increased by double-digit percentages proving bans will never work. 

As all of the victims are now powerless and disarmed, those who seek violent domination over others simply break the law and own the weapons used to hurt others.  If this isn’t straight up evidence that bans don’t work, nothing else is either. - SHTF Plan

Then of course there is the long-standing violence capital known as Chicago, where gun laws are so stringent that the local government attempts to mete out every outburst of violence with even more laws.

As of the 15th of February, Chicago racked up 326 shootings and 72 murders. That puts the city on the same pace as 2016, which saw the highest murder rate in decades. 

Police Superintendent Eddie Johnson again called for tougher gun laws. “Enough is enough,” he said. 

Illinois Governor Bruce Rauner proposed sending state troopers to Chicago. Without being specific, President Donald Trump suggested sending in the feds. 

Tracy Cannon – once associated with the Vice Lords – says it won’t matter. “I don’t care how many police they bring in. It’s not going to stop, man.” - Fox News

Chicago ranks in the top 4 U.S. cities for gun related homicides, but would be much higher if their population didn't crate a lower per capita rate than places like Baltimore or Charlotte.  But the bottom line is that when weapon ownership is banned in a given city, country, or region, only the law abiding citizen will follow these laws, and in the end make them both targets and victims to those who have no fear of laws or law enforcement.

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100 years after the end of the War to End All Wars, Rothschild still has his fingers on the controls over Europe

8:39 AM emmanuel macron, eu, europe, globalism, nationalism, one world government, rothschilds, world war i No Comments

In my book The Israel Deception, I show that a major catalyst for the engineering of World War I was to facilitate the breakup of the Ottoman Empire by the Rothschild banking syndicate in order to establish a foothold in the region for its newly found oil interests under the guise of 'creating a Jewish state'.

Whilst the British were considering Germany's offer, Rothschild agent Louis Brandeis sends a Zionist delegation from America to Britain to promise to bring America into the war on the side of the British, provided the British agree to give the land of Palestine to the Rothschilds. 

The Rothschilds wanted Palestine for the following reason. They had great business interests in the far east and desired their own state in that area along with their own military which they could use as an aggressor to any state that threatened those interests.  

As per the Rothschild Zionist promise to the British, to take America into the war, they decide they want something in writing from the British to prove that they will uphold their side of the bargain. The British Foreign Secretary, Arthur James Balfour therefore drafts a letter which is commonly known as the, "Balfour Declaration.

And while the end of World War I did bring about the breakup of the Ottoman Empire, it would take another devastating war 20 years later before the Rothschilds could seize their 'Jewish State' through the newly formed United Nations.

Now if we fast forward a century later to just a few days ago, we saw that several world leaders met in Paris to celebrate the 100 year anniversary of the ending of the War to End All Wars.  And perhaps what is the least ironic in this memorial was the fact that the proceedings were led by Rothschild banker (Emmanuel Macron), who dedicated his speeches towards the establishment of a new world order, and even a new European military to protect his master's goal of a one world government.

At the 11.11.2018 commemoration of the Armistice of WWI French President and Rothschild Jesuit banker Macron made an unfounded distinction between nationalism and patriotism, saying patriotism is the opposite of nationalism – for “patriotism defends our values”, the moral values the brave soldiers died for in WWI! We are a (Masonic) brotherhood. 

Even as Macron is zapping Trump for being a nationalist, the French president will be pushing, in Trump’s absence, a whole new initiative built around—you guessed it—globalism. As the Post also reported, “The president plans to fly home just as Macron’s PARIS  PEACE FORUM kicks off for three days of meetings aimed at galvanizing global action on shared challenges, such as climate change.” The Post quoted Thomas Wright, a Europe expert at the Brookings Institution, saying that Macron planned the Paris Peace Forum as “a counterpoint to ‘America First.’” Thus we can see: All the “Macron Attacks Trump” headlines are part of a deliberate strategy. 

Indeed, Macron has set his sights on a bigger prize than France; he wants to be the leader of the “international community.”  Now that German chancellor Angela Merkel’s star has fallen, Macron figures that he can fill her shoes, - New Euro Med

Leading up the start of World War I, Europe was a composite of both empire and nationalism as each government saw themselves as morally and racially superior to their neighbors and counterparts.  And it was in part the ability of the Rothschilds to use these feelings of superiority to bring about a war that would utterly change the world for nearly 100 years.  And when the dust had finally cleared from the repercussions of this war 70 years later when the Soviet Union finally fell in the early 1990's, it opened the door for the Rothschild's to attempt their greatest gambit of a unipolar Europe, and to even instill in France in 2017 their own puppet to be leading the EU on the anniversary of their greatest triumph.

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Come join us along with The Guerrilla Economist, Dr. Jim Willie, and London Paul at our new site called The Gadfly

10:02 AM analysis, economics, gadfly, guerrilla economist, jim willie, london paul, shotgun economics, v No Comments

Shotgun Economics has now partnered with big time alternative economists V, London Paul, and Dr. Jim Willie to create a new subscription service called The Gadfly.

At The Gadfly we will be providing uncensored discussions and analysis on everything from economics, finance, gold, cryptocurrencies, politics and geopolitics.  And more importantly, we will be providing this information from sources the mainstream media only wishes they could access.

The subscription service runs just $9.99 per month, or a discounted $100 if you pay for a year in advance.  And along with daily, weekly, and special podcasts from all the Players, there are forums on multiple topics that each of us will be participating in and providing dialogue to you as a member.

In the end you can't beat this unique access to some of the best and well documented analysts in the industry, and only for the cost of about two cups of Starbucks coffee per month.

We look forward to see you over at The Gadfly!

To sign up for a free 7 day trial, you can go over to:  https://thegadfly.vhx.tv/

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It's Veterans Day once again and that means it's time for free meals and huge discounts for Vets

8:41 AM businesses, discounts, free meal, holiday, nov. 11, nov. 12, veterans day, vets No Comments

Veteran's Day in America is one of the most celebrated and generous holidays of the year.  And although this Veteran's Day will be celebrated on Monday, Nov. 12 because the rightful day happens to land on a Sunday, it does not mean that restaurants and retailers won't be offering huge discounts and free meals to the men and women who have served our country over the past 100 years.

And in recognition of these businesses, here is a list of some of the places that are providing offerings to Vets this holiday weekend.

Applebee’s

This Veterans Day, Sunday, November 11, 2018, Applebee’s Neighborhood Grill & Bar is on a mission to serve one million free meals to neighborhood military heroes. For the 11th year, Applebee’s restaurants nationwide will invite all veterans and active-duty military to visit their local restaurants on Veterans Day to enjoy a complimentary full-size entree from an exclusive menu.

Arooga’s Grille House & Sports Bar

Arooga’s Grille House & Sports Bar is saluting America’s veterans with a free meal on Monday, November 12, 2018 in observance of Veterans Day all day at all locations (excluding Patchogue, New York).

BJ’s Restaurant & Brewhouse

On Sunday, November 11, all military members who dine-in at BJ’s Restaurant & Brewhouse will receive a complimentary entree up to $12.95 plus a free Dr. Pepper beverage. They’ll need to show a military ID or proof of service to get this freebie.

Bonefish Grill

Bonefish Grill is giving veterans a complimentary Bang Bang Shrimp appetizer on Sunday, November 11. This is for active and retired service members with a valid military ID at all Bonefish Grill locations.

Boston Market

Boston Market has a BOGO deal—buy one individual meal with drink and get a second free—on Veteran’s Day weekend (Sunday, Nov. 11 and Monday, Nov. 12) at all U.S. locations; coupon (but no ID) is required and available at BostonMarket.com.

Bruegger’s Bagels

All vets and active military get a free any-sized drip coffee at Bruegger’s Bagels locations on November 12, which is the observed Veterans Day.

California Pizza Kitchen

California Pizza Kitchen (CPK) will pay tribute to veterans and active duty members of the U.S. military on Sunday, November 11 with a complimentary entrée from CPK’s special Veterans Day menu. This is at all participating California Pizza Kitchen locations nationwide. Participating guests will also receive a card to redeem for a buy one, get one free (BOGO) offer on pizza, pasta or salad during a return visit November 12 through 18 (while supplies last).

Chicken Salad Chick

Chicken Salad Chick, with more than 95 locations, is offering a free Chick Special and regular size drink to any veteran or active-duty military personnel who visits on Monday, November 12.

CiCis Pizza

On Sunday, November 11, CiCis is offering a free adult buffet with proof of military service. This is for active military servicemen/women and veterans.

Cotton Patch Cafe

All vets and active military get a free Chicken Fried Steak or Chicken Fried Chicken on November 11. Cotton Patch Café has 56 locations in Arkansas, New Mexico, Oklahoma and Texas.

 Cracker Barrel Old Country Store

Cracker Barrel Old Country Store will be offering military veterans a choice of a complimentary slice of its Double Chocolate Fudge Coca-Cola Cake or one of its crafted coffee beverages on November 11 at all Cracker Barrel stores.

El Fenix

El Fenix, with 21 locations, is letting veterans eat free from a special Veterans Day menu. Simply provide your military ID or proof of service on Sunday, November 11, 2018. Not valid in combination with other coupons, offers, or discounts. Beverage, tax and tip not included. This is for dine-in only.

Farmer Boys

On Monday, November 12 only, participating Farmer Boys locations will be giving away a free Big Cheese burger to veterans all day long. Service members must show valid proof of service and mention the offer when ordering. The offer is not valid via drive-thru, phone, or third-party orders. Therefore, this offer is only available when ordering in-store.

Fatz Southern Kitchen

Fatz Southern Kitchen, which operates 38 restaurants in the Carolinas, Georgia, Tennessee and Virginia, is giving all veterans and active military a complimentary World Famous Calabash Chicken basket, from 11 a.m. to 11 p.m. on Monday, November 12. Fatz is also hosting Military Appreciation Month throughout November. Now through November 30, all veterans and active military members will receive 25 percent off their entrée each time they visit Fatz.

Freebirds World Burrito

Freebirds World Burrito is offering veterans a buy one, get one free (BOGO) deal on all full-size entrees on November 11. Participants must show proof of valid military ID. for active, retired or reservist members of any U.S. Military branch. This is at the 75 Freebirds locations.

Friendly’s

Friendly’s will be offering a free breakfast, lunch or dinner to guests with a valid military ID or honorable discharge card on Sunday, November 11.

Golden Corral

At all of its restaurants nationwide (489 restaurants in 41 states), Golden Corral will serve free dinner buffets with beverage from 5to 9:00 p.m., on Monday, November 12, to any person who is serving or has served in a United States military branch, including the National Guard and Reserves. Identification is not required.

HMSHost Airport Restaurants

On Monday, November 12, U.S. active-duty military and military veterans with ID can enjoy a complimentary Budweiser BBQ Cheddar Burger while they dine-in at the nearly 50 participating HMSHost airport restaurants. This Budweiser BBQ Cheddar Burger was created by a military veteran and is solely available for the month of November, with a portion of the proceeds benefiting charities that support veterans and their families. In addition, HMSHost offers a year-round 15 percent military discount on food and non-alcoholic beverages at HMSHost locations throughout the United States. The 15 percent discount is valid any day of the week for military members with valid identification at HMSHost-operated airport and travel plaza locations nationwide.

Hooters

At more than 300 participating Hooters restaurants nationwide, all veterans and active-duty military can enjoy one free entree from the Hooters Special Veterans Day Menu on November 11, as long as they purchase a beverage. You must present a military ID or proof of service.

Jimboy’s Tacos

Jimboy’s Tacos is honoring veterans on Sunday, November 11 by offering free meals (up to $10 value) for veterans who show valid proof of military ID at participating locations. This offer cannot be combined with other offers or specials, and is limited to one redemption per veteran. Veterans Day freebie is available at all 43 Jimboy’s Tacos locations across California and Nevada.

Kolache Factory

All Kolache Factory locations are offering a free kolache (any kind; kolache is a Czech pastry) and a free coffee (any size) to all veteran and active military with government-issued military photo ID on November 11, from 6 a.m. to 2 p.m. (Croissants and Polish varieties excluded). Kolache Factory has 56 stores in 9 states

Mimi’s Cafe

Mimi’s Cafe will be saluting active duty military personnel and veterans with a free entree from a special menu with a purchase of a non-alcoholic beverage all day on November 11.

Pilot Flying J

Pilot Flying J is thanking those who serve this Veterans Day with a free breakfast. From November 10 through November 12, active-duty and retired military veterans can redeem an offer in the myPilot app to enjoy a free Pilot Coffee of any size with their choice of a PJ Fresh breakfast sandwich, packaged pastry item or a Cinnabon Center of the Roll from one of the more than 750 Pilot and Flying J Travel Centers in North America.

Red Lobster

Red Lobster will be offering a free appetizer or dessert to veterans, active-duty military and reservists with a valid military ID on Sunday, November 11 and Monday, November 12.

Rock Bottom Breweries

Vets are invited to eat free at Rock Bottom Breweries around the country, from November 10 through November 12. In addition to this promotion, each brewery will be brewing a limited edition Veterans Day IPA, and, from November 10 through November 17, donating 25 cents from every pint to a local veterans charity.

Romano’s Macaroni Grill

Romano’s Macaroni Grill will offer a free Mom’s Ricotta Meatballs plus Spaghetti entree this on Sunday, November 11 at all U.S. locations. All veterans and active military must present a military ID or proof of service to enjoy this freebie.

SAJJ Mediterranean

SAJJ Mediterranean will offer a free entree to veterans who show valid military ID on Sunday, November 11 and Monday, November 12. This special will be available at the eight SAJJ locations, all day long.

Scooter’s Coffee

Scooter’s Coffee will offer a free drink of any size to veterans and current military personnel with valid military identification on Sunday, November 11. Stores will also be taking donations for Wounded Warriors Family Support on November 11 and November 12. Scooter’s Coffee has 190 stores in 14 states.

Sheetz

On Sunday, November 11, 2018, Sheetz is offering all veterans and active duty military personnel a free 6-inch turkey sub and a regular size fountain drink as well as a free carwash at any of Sheetz’s 582 locations across the mid-Atlantic. No purchase is necessary for this offer but military ID or proof of service must be presented to qualify.

Sizzler

Sizzler, with 131 locations across 10 states, will be honoring military service men and women with a free lunch, from opening hours to 4 p.m. on November 11. Veterans must show proof of military service.

Snuffer’s

When you show your military ID or proof of service at the 12 Snuffer’s locations on Sunday, November 11, you’ll receive your choice of any Snuffer’s burger or sandwich with small hand-cut potato fries. Not valid in combination with any other coupons, offers or discounts. Limit one free burger or sandwich per veteran. Beverage, tax and tip not included. Dine-in only.

Sonny’s BBQ

On November 12 at Sonny’s BBQ, veterans and active duty military will receive free pulled or sliced pork big deal combo. This is for dine-in only at the 108 locations in eight states—Florida, Georgia, North and South Carolina, Tennessee, Mississippi, Louisiana and Alabama.

SweetFrog Frozen Yogurt

On Sunday, November 11, SweetFrog Premium Frozen Yogurt will provide a free 12-ounce frozen yogurt to all veterans and active duty personnel with a valid military ID.

Tijuana Flats

Veterans with a valid military ID can visit any Tijuana Flats location for one free entree and fountain drink on Sunday, November 11, 2018. The offer includes dine-in and take-out meals but is not valid for orders made online or through Uber Eats. Tijuana Flats has over 130 locations in Florida, Georgia, Indiana, North Carolina, South Carolina and Virginia.

Twin Peaks

All active and retired military personnel enjoy a free item from the Veterans Day menu at the 82 Twin Peaks locations. This is limited to one item per person, dine-in only.

Weinerschnitzel

Veterans Day gives Americans the chance to acknowledge the bravery and sacrifice of U.S. veterans and those currently serving in the U.S. Armed Forces. This year, on the 100th anniversary of the end of World War I, Wienerschnitzel is once again honoring all veterans and those in active and reserve military duty with a free Chili Dog, small fries and 20 oz. drink.

This special offer is valid on Nov. 11 only at participating Wienerschnitzel restaurants nationwide. To receive the free meal, guests need to present a valid military or veteran ID card or wear their military uniform. There is a limit of one free meal per veteran or military member.

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Latest de-dollarization move comes from one of the U.S.'s biggest allies

8:09 AM de-dollarization, dollar, iran, medium of exchange, reserve currency, south korea, trade No Comments

While the sanction war America started against Russia in 2013 appears to have opened the door to de-dollarization, Washington's latest gambit towards Iran seems to have fully opened the floodgates.  And that is because the latest country to willingly accept trade outside the dollar just happens to be a long-standing ally of the U.S..

South Korea and Iran have agreed to switch to national currencies in trade exchanges as the sides aim to strengthen relations despite the US sanctions on Tehran. 

The agreement is of great importance to both countries, Yonhap News Agency reported, explaining that the deal indicated Korea’s concerns about relations with Iran. 

The countries also agreed to make payments and settle their financial and banking accounts using the South Korean national currency, the won. That will allow South Korean and Iranian companies to continue their extensive exchanges in various fields.

The volume of bilateral trade surpassed the $12-billion benchmark last year, according to Iran’s ambassador to Seoul Saeid Badamchi Shabestari, who told Press TV that the Iranian and Korean economies complement one another. - Russia Today

The world has progressed to the point where it no longer needs a singular point medium of exchange as it did following World War II when the dollar was by far the strongest currency available.  And ironically by having to use the dollar as a middleman between nations when it comes to trade, it actually stifles the process by affecting the value of each nation's currency since the world is no longer on a gold standard.

Perhaps it should not be surprising that South Korea is now joining in with the likes of Japan (bi-lateral trade with China) and the EU when it comes to the growing movement to conduct trade outside of a reserve currency.  And it also appears that each new day is bringing the world closer to a point of critical mass where it not only no longer needs to use a singular reserve currency for trade, but also where they could eventually come to reject U.S. payments outright in response to the dollar being used as a economic weapon.

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Shotgun Economics update for November 6 2018 - Financial Markets and Economic Wrapup

2:46 PM bonds, economics sanctions, gold, housing bubble, iran deal, midterm elections, racism, shotguneconomics, south africa, stocks No Comments

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This Veteran's day, Vets can get cannabis for just $1 at a dispensary in San Francisco

9:55 AM cannabis, free meal, marijuana, ptsd, restaurants, san francisco, veterans day, vets 1 Comment

Veteran's Day in the U.S. is one of the most celebrated and generous holidays when it comes to businesses.  This is because many stores and restaurants will offer incredible deals to Vets, which often include free meals or free items.

And with California now fully immersed in its cannabis legalization following its approval during the 2016 elections, one dispensary in San Francisco is even offering its wares for virtually free this Veteran's Day by giving Vets an eighth of an ounce of marijuana to those who stop by for just $1.

A San Francisco cannabis dispensary, Bloom Room, is offering eighths of lab-tested medical-grade cannabis for $1 to all veterans this Veterans Day. 

General Manager of Bloom Room, Stephen Rechif, tells EIN News that new regulations have forced them to sell the drug to veterans for the first time instead of giving it to them as a donation. 

"We used to be able to give veterans their eighth's for free but that is not allowed with the new laws," said Rechif. 

The purpose of the donation is to help veterans but also to raise awareness about the benefits of medical cannabis for veterans said Rechif.  "As cannabis becomes more mainstream, there is no other group that can benefit more than our veterans and our seniors." - WNCT

Cannabis is proving itself to be a powerful medicinal in the fight against PTSD and other types of depression or mental disorders.  And when you couple this with the multitude of restaurants offering Vets free meals on Nov. 11, former service members can reap the benefits of both worlds by lighting up for less than a buck, and then going out and getting their munchies on the cheap.

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As energy demand skyrockets for cryptocurrency mining, a new study shows that it takes three times the energy to mine Bitcoin as it does gold

9:34 AM bitcoin bitcoin price, bitcoin mining, cryptocurrency, energy, energy cost, gold, gold price No Comments

There have been some analysts on Wall Street, as well as a large portion of the cryptocurrency community, who believe that Bitcoin can and is the new replacement for gold as a store of wealth.  However in a new study out on Nov. 5, data is showing that the energy cost right now to mine a single Bitcoin is three times greater than the amount of energy required to mine physical gold, and that this will only increase as the Bitcoin algorithm demands more and more energy for each new token.

According to newly published research, mining cryptocurrency takes nearly twice as much energy than mining gold, platinum, and copper. Bitcoin $BTC▼0.19% on its own, needs three times as much energy to mine than compared to gold. 

Researchers from the Oak Ridge Institute for Science and Education in Cincinnati tracked the daily energy demand and hashrate of Bitcoin, Ethereum, Litecoin, and Monero between 1st January 2016 to 30th June 2018. 

The researchers then used the average daily market prices of each cryptocurrency – and the respective rewards gained from successfully mining a block – to calculate how much energy it takes to generate one US dollar worth of each respective cryptocurrency. 

The study found that Bitcoin, Ethereum, Litecoin, and Monero consumed 17, 7, 7, and 14 million joules of energy, respectively, to mine $1 worth of each cryptocurrency. - The Next Web

Ironically this 'proof of work' asset is right now around five times the market value of gold, meaning for the moment it does provide a higher yield than gold does at $1230 per ounce.  But as we mentioned above, each Bitcoin mined subsequently causes the amount of energy needed to mine the next one to increase, meaning that in a very short amount of time that difference will tilt in favor of gold unless the price of Bitcoin grows in proportion to the increased energy costs.

With both Bitcoin and gold prices appearing to be under tight manipulation by Wall Street, the only question that remains is in which asset will be allowed to breakout during a given financial crisis.  And the answer is more likely gold when you take into account that central banks are starting to accumulate it rather than Bitcoin.

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