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?

Thursday, November 30, 2017

Did President Trump's Press Secretary drop a hint that the White House is monitoring Bitcoin for National Security?

With the massive volatility in the price of Bitcoin over the past week causing even the mainstream media to dedicate serious time to the cryptocurrency, a question made to the White House Press Secretary on Nov. 30 has people wondering if her response was a hint that the White House is very much aware of Bitcoin and its implications to national security.

In the past few days two Federal Reserve presidents have discussed cryptocurrencies and concluded they are "niche" and "don't matter today.
The total market capitalization of the entire cryptocurrency space is around $300 billion - smaller than the Top 10 names in the S&P 500. 
But it appears the last few days of turbulence in Bitcoin  - which saw total losses of around $3 billion yesterday, compared to $60 billion lost in FANG stocks alone - has 'triggered' the world's media into a frenzy.. 
Which led to today's White House Press Briefing and an unusual question from one reporter... 
"Has the president been following cyrptocurrencies at all? Specirfically the major run-up in it...   Does he have an opinion on it, and does he feel it is now something that needs to be regulated?" 
The answer was, perhaps, somewhat surprising... 
"The [Bitcoin situation] is something that is being 'monitored' by our team...  Homeland Security is involved." - Zerohedge
It should come as a surprise that the White House would have an interest in cryptocurrencies like Bitcoin as even Russia's Vladimir Putin and China's Xi Jinping have adopted policies in their administrations regarding the use of cryptos in their markets and economies.

The Daily Economist update for Nov. 30 2017 - U.S. Finance and Economics Report

European Central Bank definitely fears potential of Bitcoin as they order banks to push towards instant payment platforms

The power of Bitcoin of course is in its de-centralization, and its growing potential to pull money and activity away from the primary banking system.  And while the cryptocurrency has yet to fully embrace all of its potential as a payment option and medium of exchange, one entity appears to be highly cognizant of its growth and is showing their fear by ordering banks under rgwue purview to push towards integrating instant payment platforms.

The European Central Bank (ECB) on Nov. 30 issued the clarion call to financial institutions that Bitcoin and other cryptocurrencies are definitely a viable threat to their control and authority, and that banks need to ramp up their efforts to get instant payment systems online to compete.

Banks should speed up the introduction of immediate payments, whereby money is received immediately and around the clock, to counter the allure of digital currencies such as bitcoin, said the European Central Bank (ECB). 
“Banks need to implement instant payments as soon as possible and provide an alternative narrative to the ongoing public debate on the alleged innovation brought by virtual currency schemes,” said a member of the ECB’s executive board Yves Mersch as cited by Reuters. 
Central banks are worried private digital currencies are threatening their control of the banking system and money supply. The regulators fear this could undermine the monetary policies they use to manage inflation. 
At the same time, some central banks such as Sweden’s Riksbank and the Bank of England are considering introducing their own digital currency. The Riksbank may introduce the so-called e-krona soon to solve the problem of a dramatic drop in the domestic use of cash. The world’s oldest central bank was the first to issue paper banknotes in the 1660s. – Russia Today

Failure to deliver gold from Comex coming as analyst's state the U.S. institution has no metal to cover

Two interesting articles out on Nov. 29 point towards the U.S. Commodities Exchange (Comex) soon running into a potential default on delivering physical gold in their futures contracts.

According to long-time industry analyst Harvey Organ, the numbers being given by the Comex don't add up, and he has now stated the belief that the Comex has no metal to back up the contracts they have sold.

For the past eight years or so I have had a very good relationship with the U.S. Commodity Futures Trading Commission. My desire was always to keep the channels of communication open though I knew that the Comex was manipulated on a daily basis. 
Always the CFTC, through Mathew Hunter (Bart Chilton’s hand-picked protege), communicated with me on all issues. My deal was not to repeat anything said. I honored that. After learning about the exchange-for-physicals mechanism on the Comex, I raised with the CFTC some important issues about them and initially Hunter responded. 
However, my last two letters to him have not been acknowledged. 
I would like to point out the huge difference in deliveries between New York and London. November is a non-active delivery month in gold and we generally witness around 1.5 tonnes delivered upon. However, when you note the amount of contracts transferred it is a whole different story:  Last month we had approximately 8,000 contracts of gold open interest transferred to London per day or 180,000 contracts or 1.8 million ounces  (560 tonnes). This month it looks like we will have around 9,500 contracts transferred per day or 2 million ounces transferred (620 tonnes). It certainly shows that Comex has a lack of physical metal. – Silver Doctors
 Then on the same day this was asserted by long-time analyst and insider Jim Rickards.
Failure to deliver gold: This is almost definitely coming. So much of the gold market is “paper gold.” This paper gold market is so manipulated, we no longer have to speculate about it. It’s very well documented. But it all rests on a tiny base of physical gold. I describe the market as an inverted period with a little bit of gold at the bottom and a big inverted pyramid of paper gold resting on top. 
The [available amount of] physical gold is getting smaller, which surprises many people. The might say, “Gee, there’s 2,000 tons of mining output per year, and the gold that exists doesn’t go anywhere, so why isn’t that little brick getting bigger instead of smaller?” 
So how does this end? 
Someday, probably sooner than later, somebody is going to show up and say, “I want my gold, please,” and the custodian won’t be able to give it to them.
What if a major institution wants its gold but can’t get it?
That would be a shock wave. It would set off panic buying in gold, and inflation expectations — now subdued — could spiral out of control.- Daily Recknoning
For gold holders it has always been a matter of patience over emotion.  It took a decade for gold to move from $240 in 2002 to a new all-time high of $1940 a decade later.  And since the Fed has had to depress the gold markets with the same amount of money it has used to prop up the stock markets, it is not hard to imagine what the outcome will be once either of these markets loses control, and prices spiral towards equilibrium of what they should have been without the manipulation.

Move over CME as Nasdaq preparing for a Bitcoin futures contract also in 2018

Wall Street is gearing up to financialize Bitcoin big time in 2018.  And in a new report on Nov. 30, it appears that it will not just be the Chicago Mercantile Exchange (CME) that will be introducing Bitcoin futures contracts, but also the Nasdaq as institutional investors salivate with the potential of driving up the price while also having the capacity to short cryptocurrencies.

According to The Wall Street Journal, Nasdaq’s contract on bitcoin, which has soared up to $11,000, would be traded on Nasdaq Futures (NFX), a marketplace, established in 2015 and until now dealing with the energy sector. 
Additionally, Cantor, a global financial services firm, is planning to launch its bitcoin derivatives, which would allow traders to swap bitcoin prices up to three months out with protection of their losses in case the cryptocurrency rockets above $15,000 or below $5,000, according to the newspaper. 
The introduction of bitcoin futures would reportedly be a step toward the maturity of the young cryptocurrency, since it would make the bitcoin trade easier both for major banks and private investors. However, financial institutions are avoiding dealing with bitcoin due to its notorious volatility and associations with illegal activity, the newspaper added. – Sputnik News

Wednesday, November 29, 2017

The Daily Economist update for Nov. 29 2017 - Gold, Bitcoin, and Cryptocurrency Report

Russia: You toucha da gold, we breaka da face

In the ongoing sanctions war against Russia, the U.S. to date has been very careful in limiting its economic restrictions to a few oligarchs and corporate business entities.  But as the Eurasian power grows stronger ties with China to create an ever increasing threat against America's dominance through dollar hegemony, the real war begins should Washington decide to impose freezes on Russian assets the same way they did against Iran for nearly a decade.

And in response to this potential threat, Russia's Finance Minister Anton Siluanov stated on Nov. 28 that any confiscation or freezing of currency or gold assets by the United States would be considered an act of financial terrorism and war.

Russia's federal budget is prepared for the possible toughening of US sanctions. However, if they include the seizure of Russia's foreign exchange reserves, it would be regarded as a "declaration of a financial war," the Russian finance ministry warns. 
"If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism," said Russian Finance Minister Anton Siluanov. 
According to Siluanov, the budget takes into account the risk of income shortfalls. The budget is based on oil prices at $40 per barrel, which is almost a third lower than the current price. 
The budget "has a margin of safety in case of restrictions and sanctions." It also includes losses incurred by a probable ban on investment in Russian government bonds for foreign funds. The US Treasury is currently considering such penalties. 
"If we did not have a margin of safety, then it would be easy to weaken us. And then, our so-called friends would say – if you want to get help from the International Monetary Fund, you must do this and that," said Siluanov. 
If sanctions include the freezing of foreign accounts of the central bank, it would be equal to declaring financial war on Russia, Siluanov said. He added that he considers such a scenario unlikely. – Russia Today

Growing pot legalization worldwide has now created the first legitimate international drug cartel outside of Big Pharma

For decades the so-called 'War on Drugs' has been a ruse for the U.S. government to clamp down on illegal narcotic operations and cartels to aid Pharmaceutical companies and even the CIA in dominating the market.  And the consequences of this of course has been millions of Americans thrown into prison for victimless crimes, as well as an epidemic opiod crisis that only this year has finally been labeled a National Emergency.

But with the rise of cannabis legalization taking place steadily around the world, a new merger between three companies in Canada, Holland, and even the United States has created the first legitimate international drug cartel outside of the multi-national behemoths that are Big Pharma.

Three of the world’s leading marijuana companies have decided to pool their resources in a huge joint venture. 
The deal struck between Canada’s Canopy Growth, Holland’s Green House Brands and the U.S.’ own Organa Brands marks the first time in history a legal weed cartel will exist. 
Amazing how times can change so quickly, isn’t it? – Daily Reckoning
Additionally, pot legalization is becoming a boon for equity markets in countries that have decided to allow the drug to be regulated and financialized.

Canadian marijuana companies are having a HUGE November. 
Since Oct. 30, the Canadian pot index made up of 18 of Canada’s largest pot companies is up almost 60% for the month.
The amount of investment and money to be made in the cannabis boom is infinite since the industry is just now in its early stages.  And like with the cryptocurrency boom that is beginning to siphon cash away from bonds, equities, and even commodities like gold and silver, the potential for pot to emerge as one of the next big industries is huge, starting with this new international cartel.

Tuesday, November 28, 2017

Civil Forefeiture gone wild: Alabama DA used cash and property stolen from citizens without a crime to fund bonuses for employees

There are many different types of government theft that go beyond the more obvious ones of taxation and inflation.  Yet perhaps the most onerous one is the spurious use of Civil Forfeiture, which saw law enforcement officials steal more cash and property from innocent citizens in 2016 than the total amount of accumulated value from all the illegal thefts done that year by criminals.

And of all the states in which Civil Forfeiture is most often used to steal from its citizens without due process is that of the state of Alabama, where on Nov. 21 it was discovered that proceeds from property stolen from innocent people and businesses by the state went to fund bonuses in the office of the District Attorney of Suffolk County.

Newly disclosed records show Suffolk district attorney employees have received $3.25 million in bonuses since 2012 — $550,000 more than reported previously — as county lawmakers prepare for a hearing Tuesday on a bill to tighten legislative control over how proceeds from seized criminal assets are spent. 
Bonus recipients included deputy chief homicide prosecutor Robert Biancavilla, who received a total of $108,886 between 2012 and 2017, and division chief Edward Heilig and top public corruption prosecutor Christopher McPartland, who each received $73,000, according to records obtained from county Comptroller John Kennedy’s office through the Freedom of Information Law. 
The bonuses, which were funded from assets seized in criminal cases by the district attorney’s office, did not receive legislative approval. The original figure of $2.7 million came from documents provided by County Executive Steve Bellone’s office, which only included bonuses for top management employees. - Newsday
Sadly, draining the swamp of corrupt officials goes far beyond just he boundaries of Washington D.C., as the economic malaise that has embroiled the economy for nearly a decade makes politicians and even first responders more than willing to throw away the 4th amendment if it means money for themselves, their retirements, and as we see in one example, bonuses for their employees. 

Kim Dotcom's latest venture is to create a new financial system using the 'perfect' cryptocurrency as universal money

While Bitcoin, Ethereum, and Litecoin have yet to reach their full potential as a new and alternative medium of exchange which could replace the current system of sovereign currencies, long time innovator Kim Dotcom is ready to change that.  And his newest venture and goal is to create a completely new financial system based on what he calls the 'perfect' cryptocurrency that would function globally as universal money.

Kim Dotcom has sketched out his vision for a “perfect cryptocurrency” that would be fast, cheap and popular enough to keep it outside the influence of the world’s largest financial institutions. 
Dotcom gave fans the broad strokes of his plan in a Twitter post, saying that high-speed transactions and low fees of a universal cryptocurrency would help transfer control from banks and corporations back to the individual. The tweet was punctuated with the hashtag “#Goals,” suggesting this is a vision the self-described “tech freedom fighter” is working towards. – Russia Today
In addition to creating a new global financial system which would be run using a singular cryptocurrency, Dotcom is also envisioning a new and separate internet that would be outside the purview of state controls, and allow the free flow of information as was the original intention of the current system.

Cryptocurrency tied to un-mined gold signs agreement with Fintech company in hopes of 'Redefining Gold Standard'

There was an interesting debate among alternative media analysts in the financial sphere last week, with one of the arguments having to do with how gold no longer can be a standard because it doesn't function on a digtial platform.
Clif High of Webbots - Clif then says that unless you can figure out some sort of digital transmission for gold, but then it becomes an issue of trust.
You can listen to the over 2 hour debate below.

Yet ironically a few days later, this concern by Clif High may be just being addressed as a company that initiated an ICO last week to tokenize un-mined gold reserves yet to be produced has signed on with a Fintech company which will back the cryptocurrency with gold on a digital platform in the hopes of 'redefining the gold standard'.

KEY CAPITAL CORPORATION (OTC PINK: KCPC) is pleased to advise the Company has established a Fintech Division with a specific focus on pursuing blockchain and cryptocurrency opportunities. The Company further advises that it has entered into a gold pre-purchase agreement to deliver gold bullion to support AuX Tokens, a new gold-backed cryptocurrency launched by AuX Cryptocurrency Promises to Redefine the "Gold Standard" 
As formally launched today, the AuX Token is the first cryptocurrency to be uniquely backed by the ongoing production of physical gold that will continue to accrue over time to the AuX Token gold reserve. The AuX Token has the potential to redefine the "Gold Standard" through a cryptocurrency backed by a gold reserve that will continue to grow. 
The major advantage of the approach is that physical gold is pre-purchased from production ready projects while it is in the ground, at a steep discount to market price. Key Capital will be responsible for overseeing the gold production through to smelting and delivery of the gold bullion that will back the AuX Tokens. 
There has been much recent commentary regarding the potential demise of fiat currencies and the lack of any assets backing the numerous cryptocurrencies that have entered the market including market leader Bitcoin (BTC), which has traded through record levels exceeding US$9,400 per BTC over the past 24 hours. Uniquely, GoldCrypto is claimed to be well-positioned to establish a 'Digital Gold Standard' currency that, over time, has the potential to become a global asset-backed reserve currency. – Market Wired

From $8000 to $10,000 in just four days: Bitcoin price crosses Rubicon on at least one foreign exchange

Nov. 28 is now a red letter day for Bitcoin and the cryptocurrency sphere as on at least one Bitcoin Exchange, the price of the cryto crossed the predicted Rubicon of $10,000 per coin.

The meteoric rise of Bitcoin's latest moves comes as the cryptocurrency went from just under $8000 on Thanksgiving day to over $10,000 just four days later.

The first decentralized peer-to-peer payment system, bitcoin, has broken through the $10,000 mark on South Korea’s Bithumb, one of world’s biggest exchanges for cryptocurrencies. The price of bitcoin this year has jumped more than 10-fold. 
The digital currency is still unrecognized or regarded as an asset by most central banks. It started the year at below $1,000. 
November has been a volatile month for the world's most popular cryptocurrency. Two weeks ago, bitcoin saw it's price drop by 30 percent to $5,500. It has since nearly doubled to over $10,000. – Russia Today

Monday, November 27, 2017

The Daily Economist update for Nov. 27 2017 - U.S. Finance and Economics Report

21 million Bitcoins? New study confirms that as much as 25% of the already 16 million mined are gone forever

One of the more interesting aspects of cryptocurrencies is that they rely upon the individual owner to be solely responsible for their protection.  And by protection we mean control over their cryptocurrency wallets, as well as when they move them back and forth through exchanges during the process of buying and selling.

And unlike a bank or vaulting service that provides a modicum of insurance of your money and assets in the case of cyber theft, physical theft, or institutional error, if someone is negligent in their handling of their cryptocurrency wallets, not only are they out the Bitcoin they lost, but those cryptocurrencies are also lost forever from the entire balance of mined cryptocurrency.

In a new study out on Nov. 25, in the time it has taken to mine 16 of the total 21 million Bitcoin expected to ever be produced, approximately 25% have been lost forever through a myriad of reasons such as failed hard drives, lost wallet passwords, etc...

Chart courtesy of Fortune Magazine
Just as gold bars are lost at sea or $100 bills can burn, bitcoins can disappear from the Internet forever. When all 21 million bitcoins are mined by the year 2040, the actual amount available to trade or spend will be significantly lower. 
According to new research from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, 3.79 million bitcoins are already gone for good based on a high estimate—and 2.78 million based on a low one. Those numbers imply 17% to 23% of existing bitcoins, which are today worth around $8,500 each, are lost. 
While others have speculated about the number of lost bitcoins, the Chainalysis findings are significant because they rely on a detailed empirical analysis of the blockchain, where all bitcoin transactions are recorded. – Fortune Magazine

Bitcoin as collateral? New Blockchain Fintech company to create lending network grounded on cryptocurrencies

One of the biggest questions in the cryptocurrency market has always been how could a de-centralized digital currency facilitate lending in a similar fashion to how central banks do using sovereign currencies?  Some companies like GoldMint are in the process of trying to create lending facilities using the old 'Pawn Shop' method out of their gold backed cryptocurrency, but as yet this paradigm only works for resource backed cryptos.

Now on Nov. 26 a company known as SALT Lending announced that they are ready to provide the platform to facilitate lending using unbacked cryptocurrencies like Bitcoin as their collateral.

In a world drowning in debt, consumers and institutions can borrow and lend against any collateral: Houses, stocks, gold, watches, diamonds, government bonds — the possibilities are endless. 
But there is one asset class the traditional lenders won’t touch with a ten-foot pole: cryptocurrencies and other crypto assets. And yet, because of their digital and transparent nature, these assets would be the easiest to collateralize. 
Enter SALT Lending, the first blockchain-based lending network. It aims to use blockchain technology to securely collateralize crypto assets and provide fiat money loans against them. 
But this is just the first step. Eventually SALT wants to put all asset-backed lending on its Ethereum-backed blockchain, using the technology to provide a better and cheaper service for lenders and borrowers alike. This is a daunting task, however, as many ambitious Ethereum ventures have yet to deliver on their lofty promises. – Epoch Times

Gold almost reaches $1300 per ounce as early dump at market open causes it to fall back half a percent

Just prior to the market's opening on Monday, Nov. 27, gold was poised to break through the strong psychological resistance level of $1300.  However right as the bell sounded in New York, a huge dump of contracts appeared to take place driving the price down from $1299.25 to below $1290 in a matter of minutes.

Needless to say gold has recovered somewhat since the open and is once again vying to break through the $1300 barrier as it now sits around $1295 and climbing.

Sunday, November 26, 2017

Bitcoin has joined gold as a safe haven asset over bonds in the advent of a financial crisis or stock market crash

Although Bitcoin does not carry all of the intrinsic characteristics of physical gold, it has in its short time become a go-to safe haven asset according to many hedge fund managers and institutional investors.  In fact Bitcoin appears to be ready as even a replacement for sovereign bonds in the advent of the next financial crisis or stock market crash.

Graphic courtesy of Coin Telegraph
Bitcoin could become a lifeline for hedge funds and other investment professionals in case the established financial system fails, says Mikhail Mashchenko, an analyst at the social network for investors eToro in Russia and CIS. 
“The demand for bitcoin is growing as the crypto market has become less volatile, and an increasing number of professional investors see it as insurance,” the analyst told RT.
Digital platforms have been trying very hard to attract institutional investors, according to Mashchenko. 
“LedgerX launched its first long-term options for bitcoin, with an expiration date of December 28, 2018. In the coming months, we will continue to see the ‘domestication’ of bitcoin: the Chicago Board Options Exchange and the Chicago Mercantile Exchange are planning to launch tools based on the cryptocurrency in the near future,” he said. - Russia Today
There is one big caveat however, and it is the same dichotomy that the gold market experiences in the advent of financial duress.  And that is whether investors will move towards buying actual Bitcoin, or instead buy paper derivatives of the cryptocurrency similarly to how investors buy GLD paper gold versus the real physical metal.

It appears gold backed trade may be just on the horizon as the BRICS economies in discussion for a new gold system

With the Western gold markets primarily a paper derivative one, the Shanghai Gold Exchange quickly emerged as the world's largest physical gold market just months after its opening in late 2015.  And since that time they have expanded connections to both the Hong Kong and Russian gold markets.

But now it appears that China, along with the BRICS economies, are ready to take this segregated gold market even further as discussions are now taking place to formulate a new gold system that will integrate gold into bi-lateral trade contracts.

* And yes this would be a big Ding to Dr. Jim Willie's forecast years ago of the creation of a gold trade note

Brazil, Russia, India, China and South Africa (BRICS) are discussing the possibility of establishing a separate gold trading system, according to the First Deputy Chairman of Russia’s Central Bank Sergey Shvetsov. 
“The traditional (trade) system based in London and partially in Swiss cities is becoming less relevant as new trade hubs are emerging, first of all in India, China, and South Africa,” he said, adding “we are discussing the possibility of establishing a single (system of) gold trade both within BRICS and at the level of bilateral contacts.” 
BRICS countries are large economies with substantial reserves of gold and an impressive volume of production and consumption of the precious metal, said the official. According to him, the new system may serve as a basis for the further creation of new benchmarks. 
The Bank of Russia has already signed a memorandum on developing bilateral gold trade with China. The regulator plans to form a single trade system with the People’s Republic of China in 2018. - Russia Today

Bitcoin price jumps $400 overnight to over $9000 per coin as Western investors begin to enter market in droves

Some of the predictions of Bitcoin reaching $10,000 per coin before the end of 2017 are appearing now to have been conservative as the cryptocurrency's movements over the last five days signal that milestone could easily be reached as early as next week.

Overnight buying of Bitcoin in the 24 hour market has driven the price up over $400 to a new all-time high of $9200 as Western investors have begun to enter into the market in droves thanks to the expected acceptance of Bitcoin derivative trading on Wall Street.

Less than 24 hours ago, we noted that Bitcoin had broken above the recent resistance level around $8,300 and hit a fresh all time high of $8,650, observing that the world's biggest cryptocurrency by market cap is now rising at a pace that has put the $10,000 price target by both Mike Novogratz (and Jose Canseco) firmly in its sights. It didn't take long however for bitcoin to find a new round of eager buyers, and in early Asian trading, a burst of buying out of Korea's Bithumb exchange, has sent bitcoin surging another several hundred dollars higher, and around midnight ET bitcoin had surpassed $9,000, sending its market cap to $150 billion, making it more valuable than corporations like Siemens, Mastercard or McDonald’s. 
The sharp gains come as the combined market capitalization for all cryptocurrencies also peaks at new highs – currently standing at just shy of $300 billion. 
At this rate of appreciation, the crypto may hit the key psychological level of $10,000 in under a week. Needless to say, the long term chart is about as exponential as it gets, so as usual, buyer beware. - Zerohedge

Saturday, November 25, 2017

The black hole cost of mining Bitcoin that no one is talking about

One of the more lucrative businesses that have sprung up in 2017 is that of Bitcoin, and other cryptocurrency mining.  In fact in areas where governments subsidize cheap electricity (Russia, China, and Venezuela), these mining operations have grown and multiplied substantially.

However as most of us know regarding Bitcoin, as the volume of produced coins increase, the time and duration to mine the remaining coins lengthens.  And in an interesting study out on Nov. 23, the current electricity use incurred for Bitcoin mining operations now exceeds the total combined output of 161 nations, and by February of 2020 could exceed the entire amount currently produced by the entire world.

Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst.
However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption used to “mine” more Bitcoins. 
According to Digiconomist’s Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoin’s current estimated annual electricity consumption stands at 29.05TWh
That’s the equivalent of 0.13% of total global electricity consumption. While that may not sound like a lot, it means Bitcoin mining is now using more electricity than 159 individual countries (as you can see from the map above). More than Ireland or Nigeria.
If Bitcoin miners were a country they’d rank 61st in the world in terms of electricity consumption. – Power Compare UK
To keep up with this demand, alternative forms of energy would be needed to fuel cryptocurrency mining, possibly within just a years time.  Because if not then sovereign governments would surely need to get involved as the current global grid system is inadequate to facilitate a doubling of its electricity output.

Gold volumes and open interest headed towards the most since 2009

Gold volumes on the Comex are up for the third month in a row as traders on Friday rolled over their December contracts into the February time frame.

This three month in a row positive interest is the highest consecutive streak at the Commodities Exchange since 2009 when the gold price began its move towards a new all-time high, and stocks fell to 6600 on the Dow in the midst of what become known as the Great Recession.

Chart courtesy of Bloomberg
As of 2:20 p.m. in New York, volume on the Comex was 52 percent above the 100-day average for this time of day, as traders and investors roll their positions into February futures from the December contract that’s expiring on Monday. Aggregate open interest is headed for a third straight quarterly gain, the longest stretch since 2009, while holdings in exchange-traded funds are near the highest in a year. 
Prices have advanced this month, keeping the metal on course for the biggest annual gain since 2010 after two monthly declines. Gold has benefited from a weakening dollar, tepid inflation that’s spawned divisions among U.S. Federal Reserve officials over a policy path forward, and uncertainties over President Donald Trump’s plan to cut taxes. In Europe, wrangling over Brexit and Germany’s struggles to form a coalition government have underpinned demand for the metal as a haven. -  Bloomberg

Bitcoin price soars to new all-time high of over $8600 following Friday's hard fork and Bitcoin Diamond spinoff

Nov. 24 saw the advent of another hard fork spinoff for Bitcoin where the original cryptocurrency has now spawned two derivative 'coins' with the possibility of a third still looming on the sidelines.  Yet unlike previous times when there were major selloffs of Bitcoin following a fork and dividend offering, the cryptocurrency jumped over $400 in price Friday to set a new all time high of over $8600.

Bitcoin, the world's most popular cryptocurrency, almost reached $8,500 (now over $8600) on Saturday, setting another record.  
Earlier this month, the price of bitcoin fell to $5,500 following the scrapping of the SegWit2X update that made some miners and investors shift to offshoot bitcoin cash. 
However, the cryptocurrency returned to growth and surpassed $7,000 on news that the Chicago Mercantile Exchange would start trading futures on the digital currency. 
Bitcoin started the year just above $1,000, and the overall growth now is approaching 850 percent. The cryptocurrency's market capitalization has reached $142 billion, making it more valuable than corporations like Siemens, Mastercard, British American Tobacco or McDonald's. – Sputnik News

Friday, November 24, 2017

Bitcoin's divisions beginning to become a mockery as new fork creates Bitcoin Diamond

Either Bitcoin is quickly becoming a ponzi type scam, or developers of the cryptocurrency are completely divided on the platform's future as another hard fork imposed on Nov. 24 has spawned the newest Bitcoin derivative in Bitcoin Diamond.

Bitcoin Diamond joins Bitcoin Cash and the shelved (for now) cryptocurrency labeled Bitcoin Gold in what has become a mockery for the original player in the cryptocurrency sphere.

A fresh new Bitcoin fork successfully debuted Friday, but its 4.2 bln coins are already raising questions. 
Bitcoin Diamond (BCD), which launched at block 495866, aims to switch from proof-of-work to proof-of-stake after mining is completed - after just 10,000 blocks. 
A curiously complex introduction on Bitcointalk Nov. 22 paved the way for Bitcoin’s latest doppelganger, which unlike previous incarnations Bitcoin Cash(BCH) and Bitcoin Gold (BTG) has hardly anything in common with Bitcoin (BTC) at all. - Coin Telegraph
With there now being at least two iterations of the original Bitcoin, and close to 1200 total cryptocurrencies available for trading, the idea of Bitcoin becoming an alternative to currency (money) is very quickly falling by the wayside as even long time advocates appear to be recognizing that traders are using one or more of the cryptos as a platform to engage in a pump and dump, boosting up the price of one crypto while forcing down the price of others.

With the U.S. using the dollar as an economic weapon, Russia's accumulation of gold is part of their national security

As the sole authority over the global reserve currency, the U.S. government has not been shy in using the dollar and the SWIFT system as an economic weapon against any country they deem an adversary against their dominance as the primary world power.  And the most obvious instances of this in recent times has been with their unilateral sanctions against Russia, Iran, and over the past few months, North Korea.

In response to these threats, nations have begun undertaking policies of gold accumulation.  And according to the First Deputy Governor of Russia's central bank, their ongoing accumulation of gold is an intrinsic part of their national security.

Russia is increasing a share of gold in its state reserves to beef up national security, Central Bank First Deputy Governor Sergei Shvetsov said on Friday. 
Value of gold in Russia's international reserves managed by the central bank increased to $73.7 billion as of Nov. 1 from $60.2 billion at the beginning of the year, the central bank data showed earlier this week. - Kitco
Over the past decade gold has played an important role against economic sanctions, especially in regards to Iran who facilitated an oil for gold scheme during their decade long suppression by the U.S. government.  And it is very possible that gold could wind up being the catalyst which ends the Petrodollar as well should China follow through with rumors of their using it as a hedge in their upcoming yuan denominated oil contract.

The Daily Economist update for Nov. 24 2017 - U.S. Finance and Economics Report

Precious metal asset fund swapped mining stocks for Bitcoin to then use profits to increase gold holdings

A small yet well established asset management firm that offers customers exposure to precious metals reported earlier this week that back in April they had swapped their historic investments in mining stocks to instead direct their cash into Bitcoin.

Old Mutual's Gold and Silver fund had for a long time invested clients money into precious metal based equities and securities.  But with the astronomical rise in the value of cryptocurrencies here in 2017, in April they shifted assets into Bitcoin as a means gain yield which they have traded to then move the profits into other gold assets.

A precious metals fund is investing in bitcoin to reinvest profits from the digital currency in gold assets. 
Ned Naylor-Leyland, manager of the Old Mutual Gold and Silver Fund, said it started buying bitcoin in April, and that the virtual currency serves as a better allocation than a heavy weighting toward mining stocks. 
He said that both bitcoin and gold complemented each other as assets, as the cryptocurrency was designed to be "digital gold." 
"Bitcoin's frictionless and immediate blockchain payment system resolves the criticism of gold as lacking divisibility and having problems with ease of transmission," Naylor-Leyland said in an emailed statement. - CNBC

Thursday, November 23, 2017

For those about to shop on Thanksgiving evening, we salute you!

America has changed immensely over the past 50 years to the point where even their most hallowed days are not immune from the demand to shop and consume.  In fact up until just a few decades ago in many places, most retailers closed their stores on Sundays in honor of the Sabbath.

But because Americans and the U.S. economy are such a consumer driven culture, the holiday shopping season begins as early as possible, and this now includes during the evening of Thanksgiving where stores open not at midnight as in years past, but as early as 2pm, or shortly after the ending of the second football game of the day.

And here is a small list of stores that are open today for shoppers seeking to start their Black Friday experience 12 hours early.

  • Walmart: Open all day Thanksgiving but Black Friday deals get underway at 6 p.m. local time.
  • Target: Open Thanksgiving at 6 p.m. (compared to 5 p.m.) through midnight and then re-opening Black Friday at 6 a.m.
  • Best Buy: Open Thanksgiving at 5 p.m. through 1 a.m. on Friday, before re-opening at 8 a.m.
  • Macy’s: Open Thanksgiving at 5 p.m. through 2 a.m. on Friday, before re-opening at 6 a.m.
  • Kohl’s: Open Thanksgiving at 5 p.m. and not closing until 31 hours later, at the stroke of midnight on Friday, Nov. 25.
  • J.C. Penney: Open Thanksgiving at 2 p.m. and will remain open until 10 p.m. on Friday.
    Sears: Open Thanksgiving at 6 p.m. through midnight, before re-opening Friday morning at 5 a.m.
  • Kmart: Open 6 a.m. on Thanksgiving through midnight, and re-opening on Friday morning at 6 a.m.
  • Toys R Us: Open Thanksgiving at 5 p.m. through to 11 p.m. on Black Friday
  • Ulta Beauty: Open Thanksgiving 6 p.m. to 2 a.m. Black Friday, then again from 6 a.m. to 10 p.m.
  • GameStop: Open Thanksgiving 4 p.m. to 10 p.m., then on Friday 6 a.m. to 10 p.m.
  • Dick’s Sporting Goods: Open Thanksgiving 6 p.m. to 2 a.m. Friday, then re-opening at 5 a.m. through 10 p.m.
  • The Gap: Varies a lot by store, but those opening on Thanksgiving are largely doing so at 6 a.m.
  • Old Navy: Open at 4 p.m. on Thanksgiving and all the way through to midnight on Friday.
And of course online portals such as with Amazon and Alibaba never sleep, so you can even shop while basting the Thanksgiving turkey if the need to buy becomes too overwhelming earlier in the day.

Wednesday, November 22, 2017

The Daily Economist update for Nov. 22 2017 - Gold and Cryptocurrency Report

Asset management company in France to become the first to create and offer Bitcoin secured mutual fund

While Wall Street focuses on the creation of a futures market to allow institutional investors to acquire a form of Bitcoin in their portfolios, one asset management company in France is working on taking ownership of the cryptocurrency a step further.  And on Nov. 22 TOBAM announced they have created the world's first Bitcoin secured mutual fund which will be offered to their customers as another investment vehicle.

The French asset management company TOBAM, with $9 bln under management, has officially announced the creation of the first Bitcoin mutual fund. The goal is for institutional investors to gain access to the cryptocurrency. 
The company has created the fund as an unregulated alternative investment in order to provide a vehicle for allowing more regulated investors at the institutional level to gain Bitcoin exposure without the regulatory concerns. According to the business development lead, Christophe Roehri: 
"Direct investment in Bitcoin can be operationally challenging, from dealing with the choice of the platform, to maintaining the proper security measures in terms of custody and to managing the changes made to the protocol.” – Coin Telegraph

Every slam against gold price is now being met with strong buying

A few days ago when it appeared that the gold price was ready to take on the $1300 resistance level, either the bullion banks, or some other entity, smashed down the price with a dumping of 15,000 paper contracts ($2 billion notional) in just two minutes time.

However like the several previous manipulations that have occurred over the past month when gold was on the path towards strong moves higher, each decline in price has and is being met with strong buying shortly after the slamdown.

Gold futures worth almost $2 billion, some 15,000 contracts, were dumped on the market in less than two minutes yesterday. 
The sharp decline was not warranted and suggests one or two market participants wanted the price lower. 
Such sell offs have been seen frequently in recent months and tend to be short lived. Smart money will again accumulate gold on the dip. 
As stackers keep on stackin’, and as the manipulation gets called out every time, together, these two things make the manipulation less and less effective every time. – Silver Doctors

Chinese internet giant Baidu wants to pay you for use of your pc's processing power to mine Bitcoin

A month ago we published an article on how hackers are using malware to turn your pc into a Bitcoin miner as part of their global unauthorized network.  Now on Nov. 22 Chinese internet giant Baidu wants to do the same with your computer, only their program seeks to do it with your permission, and also to pay you for the leasing out of your spare processing power.

A service launched by China’s internet giant Baidu can make you money if you are willing to share your desktop computer’s spare computing power for faster downloads, smoother online videos and maybe even mining bitcoin. 
Baidu, the operator of China’s dominant online search engine, has launched a service called Baidu Jinkuang, which roughly translates as Baidu Gold Mine in English, to allow users to exchange extra hard disk space on their computers and broadband connection into real money. 
Baidu said in a statement on Wednesday that by using a peer-to-peer content delivery network (CDN), the service can gather the extra computing resources and broadband connection in individual homes and use them to help store and speed up the distribution process of various online products. 
“CDN enables users to share their unused bandwidth,” said Hu Yongjun, chief operational officer of Huangpu Community, an online platform for digital currency and blockchain technologies. “Bitcoin mining may be one of the uses but it could definitely help live streaming and e-sport platforms and generate hype to lure users as bitcoin is so hot right now.” - South China Morning Post
Bottom of Form

Tuesday, November 21, 2017

New cryptocurrency backed by gold will tokenize metals still underground awaiting excavation

On Nov, 21 it was announced that a another new cryptocurrency is being ICO'd which will be backed by physical gold.  However what makes Crypto Investor, Inc's AUX token unique is that it is being sold to back gold that is still underground awaiting excavation.

Crypto Investor, Inc. announces the launch of the AuX Token Pre-ICO as the first cryptocurrency to be uniquely backed by the ongoing production of physical gold bullion to create an accretive gold reserve backing the AuX Tokens. This paves the way for the establishment of a better than “Gold Standard” cryptocurrency. 
The major advantage of the approach is that physical gold is pre-purchased from production ready projects while it is still in the ground, at a steep discount to market price. This steep discount is in turn passed on to all participants in the Pre-ICO and ICO providing an extraordinary entry level opportunity that will not be repeated following the close of the Pre-ICO and ICO. 
The initial AuX Token gold backing is approximately US$1.70 per AuX Token. With the Pre-ICO or ICO discounts applied, AuX Tokens present the opportunity of securing a gold position (as the Tokens are gold backed) at up to around a 50% discount to the gold market. 
Finally, as 45% of delivered gold bullion is progressively reinvested in further gold pre-purchases, the gold deliveries incrementally and continuously increase the AuX gold-backed reserve. – Quebec Daily Examiner

Long time Bitcoin and cryptocurrency advocate diligently selling some holdings to put into physical gold and silver

Jeff Berwick, who is also known as the Dollar Vigilante, is a long time advocate of Bitcoin and cryptocurrencies as a whole.  And in fact he has been a strong proponent of them since the beginning when Bitcoin was little more than a symbol of rebellion among the anarcho-capitalist community.

But Berwick is also a long time student of the market as prior to his moving to Acapulco several years back, he was the owner of Canada's largest financial website and bulletin board during the early years of the internet.

So with this being said it appears that financial prudence is outweighing the mania that is part and parcel for the cryptocurrency community.  And as Bitcoin reaches new all-time highs of over $8000 per coin, The Dollar Vigilante is taking profits from some of his crypto holdings and moving them into two of the most undervalued assets in the markets.

Gold, silver, and even the mining stocks that produce them.

Unlike gold and sovereign currencies, cryptocurrencies like Bitcoin don't have insurance to cover theft or coding mistakes

When hackers broke through the world's primary platform for currency exchange (SWIFT) last year and stole close to $100 million from the Indonesian central bank, it signaled just how vulnerable any asset born from, or stored in, cyberspace can be with the right amount of time and ingenuity.

Cryptocurrencies, and by default their third party conduits such as an exchange, are no exception to this rule.  And because of the amount of value and growth cryptos like Bitcoin have garnered in just a short amount of time, even the most powerful encryption processes will be cracked and their assets subsequently stolen.

As in the latest cyber-theft of wallets from the 19th largest cryptocurrency known as Tether.

Hackers have robbed the wallet in the 19th largest cryptocurrency tether. The company behind the dollar-pegged cryptocurrency blamed "malicious action by an external attacker" for the theft of $30,950,010 on Monday. 
Tether would not redeem any of the stolen tokens. The cryptocurrency’s market cap is $674 million, with the value of one tether equal to one US dollar. 
“The back-end wallet service has been temporarily suspended. A thorough investigation of the cause of the attack is being undertaken to prevent similar actions in the future,” Tether wrote. 
As the largest cryptocurrency bitcoin reacted negatively on the news, immediately falling about five percent, but soon recovered and is trading above $8,000, not far from the all-time high of $8,200 seen on Monday. 
The incident is the latest in a number of hacks that are raising questions about the security of cryptocurrencies. 
This month, $280 million worth in ethereum was frozen after someone made a mistake by deleting the code library of Parity Technologies, a large provider of cryptocurrency wallets. 
The individual who triggered the lockdown claimed to be new to cryptocurrency. 
Mt.Gox, one of the largest bitcoin exchanges, faced bankruptcy after hackers stole $460 million worth in bitcoin in 2014. - Russia Today
Yet here is the thing... owners of sovereign currencies like the dollar, euro, yen have a modicum of insurance through the banking system in case of it being stolen from those accounts through a cyber attack.  Additionally, gold stored in a respected vaulting service will be able to have insurance in case of physical theft of their metal.

But in the cryptocurrency realm there is no insurance against theft, or as we saw last week with Ethereum, coding mistakes that locked out hundreds of millions of dollars worth of crypto from individual wallets.  And so the onus is 100% on the cryptocurrency owner, which makes owning cryptocurrencies completely reliant upon diligent investors, as well as in being able to trust in the facilities that in the end offer little recompense if hackers decide to target their platforms.

Monday, November 20, 2017

Bitcoin daily transactions reach the $2 billion mark for first time last week

Last Wednesday was a red letter day for Bitcoin as the cryptocurrency achieved a new high for denominated transactions when it surpassed the $2 billion per day threshold on Nov. 16.

Even going back to September, the total notional amount of transactions per day remained below $1 billion.  However with the oncoming of October Bitcoin blew through that ceiling and within a months time doubled again to its $2 billion level.

Blockchain Transactional Volume
2017 has been bitcoin’s biggest year yet, with the digital asset reaching another new all-time high above $8,000 over the weekend. In addition to the exploding price, the total value transacted on the network per day has also seen substantial gains this year; however, the actual number of transactions processed by the network per day has been rather stagnant in 2017. 
For most of January, roughly $200 million worth of bitcoin was being sent around the Bitcoin network per day. Things didn’t really take off until May where there was a steady rise in the total value of the transactions processed by the network. Near the end of that month, days where more than $700 million was transacted on the network were common. 
After declining over the next couple of months, the value being transacted on the Bitcoin network spiked in the runup to the release of Bitcoin Cash, which forked off from the Bitcoin ledger on August 1st. The lock-in of the much-anticipated Segregated Witness (SegWit) improvement for Bitcoin also occurred around this time. 
Roughly a billion dollars of value was sent around the Bitcoin network per day in early August. This number declined down to $600 million by late September before exploding to $1.5 billion by late October. 
November 16th set a new all-time high for value transacted over the Bitcoin network in a single day at $2,803,405,660. - Forbes

The Daily Economist update for Nov. 20 2017 - U.S. Finance and Economics Report

Glint joins companies like GoldMoney in allowing people to store their wealth in gold but use it like a bank account

Some of the most trusted names in the gold markets began the process over two years ago to bring gold back into the monetary system when Bitgold merged with GoldMoney to create a digital platform by which individuals can buy and store their wealth in physical gold bullion while still having access to it through a Mastercard use portal.  Now on Nov. 20 another company called Glint is joining in the mix.

An electronic payment app that allows people to pay for goods and services in gold has been launched by fintech firm Glint. 
Released Monday, the app — also called Glint — allows users to link a Mastercard debit card to their phone, which then lets them buy physical gold bullion that is stored in a Swiss vault. 
Jason Cozens, the company's chief executive and co-founder, said Monday that central banks' quantitative easing policies and the collapse of some banks have made many people realize that traditional accounts are not a risk-free option. 
"Since the financial crisis, people are starting to understand that purchasing power of their money isn't safe," he said. 
On its website, Glint says that once either a currency or gold is linked to a Mastercard, customers can buy "anything from a coffee to a car." The company adds that users can also select the precious metal to make peer-to-peer payments. - CNBC
Unlike Bitcoin and other cryptocurrencies that allow for a peer-to-peer medium of exchange in the particular denomination of a given cryptocurrency, gold backed digital accounts allow for easy conversions into any currency without dealing with the volatility swings encountered when a crypto is converted back into a particular sovereign currency.

The world is aching for a return to sound money, and especially a way for gold to backstop that money even if it is just in the hands of depositors and individuals.  And with sovereign governments desperate to devalue their own currencies to protect their own financial systems to the detriment of their people, finding an alternative to the traditional banking system is one of the reasons why cryptocurrencies and gold backed allocated accounts are striving to become the future of individual finance.

Another example emerges of bullion banks refusing to give back customers their stored allocated gold

By now most holders of physical gold now the one hard and fast rule... if you don't hold it, you don't own it.  But sadly for some who trust in even the most traditional and respected bullion banks, reliance on your stored allocated gold being available when you request it from their vaults is now little more than a coin toss that you will be able to receive it.

And for one depositor, his actions with a long respected Swiss bank shows that trust is no longer a viable commodity.

This week I was contacted by a person who went to his bank in Zurich — one of the two largest in Switzerland — to get his physical gold out. He had seen my KWN article on the subject. The bank, one of the biggest Asset Management banks in the world, told him that he couldn’t have his own gold because of new rules within the bank.  
But this man did not give up that easily. He asked for a letter from the bank confirming that they refused to hand his gold to him. He told the bank that he would take this letter to the police. The bank clearly got scared and after three hours wait, the gentleman was told by the bank that they would hand his gold to him. So very generous of the bank to hand the client’s asset bank to him! 
This is yet another confirmation that banks are not going to give the clients their assets back without a major legal fight. But that is just the first stage, in my view. Soon banks will be under such pressure that they will hold on to clients’ assets. Few people believe that this is possible, but it is guaranteed that, in the not too distant future, insolvent banks will not be in a position to hand anything back to clients. Again I urge people to get assets out of the banks, in Switzerland or any other country. The financial system is already bankrupt, regardless of what central bank chiefs say. - Egon von Greyerz via King World News

Sunday, November 19, 2017

While fundamentals no longer matter in the stock markets, they forecast incredible moves coming for gold and gold prices

When it comes to the much overvalued stock markets, fundamentals and technicals no longer matter because of the Federal Reserve and their programs to prop up equities at all costs.  And this means of course that the moment the central bank decides to remove its foot off the gas of intervention, stocks will plummet faster than the record time it took for the Dow to move from 22000 to 23000.

However, and despite the fact that the gold markets are the most manipulated assets in financial system, the fundamentals for gold and for higher gold prices have rarely been better,  And these fundamentals are marked by continuing demand from the East, validated physical shortages, and the decline in the ability for the bullion banks to be able to hammer down the price the same way they did just a year ago.

The physical fundamentals are stronger than ever for gold. Russia and China continue to be huge buyers. China bans export of its 450 tons per year of physical production.
Gold refiners are working around the clock and cannot meet demand. Gold refiners are also having difficulty finding gold to refine as mining output, official bullion sales and scrap inflows all remain weak. 
Private bullion continues to migrate from bank vaults at UBS and Credit Suisse into nonbank vaults at Brinks and Loomis, thus reducing the floating supply available for bank unallocated gold sales. 
In other words, the physical supply situation has been tight as a drum. 
The problem, of course, is unlimited selling in “paper” gold markets such as the Comex gold futures and similar instruments. 
One of the flash crashes this year was precipitated by the instantaneous sale of gold futures contracts equal in underlying amount to 60 tons of physical gold. The largest bullion banks in the world could not source 60 tons of physical gold if they had months to do it. 
There’s just not that much gold available. But in the paper gold market, there’s no limit on size, so anything goes. 
There’s no sense complaining about this situation. It is what it is, and it won’t be broken up anytime soon. The main source of comfort is knowing that fundamentals always win in the long run even if there are temporary reversals. What you need to do is be patient, stay the course and buy strategically when the drawdowns emerge. – Daily Reckoning

South Korean company is ready to integrate Bitcoin into their global network of ATM machines

The ability to buy and sell Bitcoin in the United States, as well as worldwide, is about to get easier as one of the world's largest ATM manufacturers is expanding their network globally to integrate Bitcoin into their systems.

Hyosung, which builds ATM's for banks and institutions around the world, has allowed for the buying and selling of Bitcoin locally in their home market of South Korea since 2014.  However beginning today, the company who also has its primary headquarters located in the state of Texas is enlarging their cryptocurrency program for both the U.S. and other foreign destinations.

South Korea’s Hyosung, one of the largest ATM manufacturers in Asia, which also has its headquarters in Texas, has officially integrated Bitcoin into its international ATM models
Since 2014 Hyosung has collaborated with leading Bitcoin service providers within the South Korean cryptocurrency industry such as the Tim Draper-backed Coinplug. For over three years Hyosung has enabled South Korean ATM users to buy and sell Bitcoin through tens of thousands of Hyosung ATMs, located at nearly every convenience store and subway station. 
Through the Coinplug mobile app, Hyosung has allowed South Korean users to easily withdraw and deposit cash to sell or obtain Bitcoin, increasing the liquidity of Bitcoin for general consumers in the region. – Coin Telegraph
Hyosung is obviously not the first company to install ATM devices that allow for the buying and selling of Bitcoin, however because of their footprint, millions more people will now have the opportunity to bypass online exchanges and trade in the cryptocurrency sphere as they see fit. 

Independent journalists team up together to create a cryptocurrency to take on big media and fake news

One of the hardest things for the alternative media to deal with is the extraordinary amount of monetary and political capital that the mainstream media has in the fight to report truthfully on the news.  Ie... over 90% of the mainstream media is controlled by just six major corporations and internet sites such as Youtube and Facebook have given in to political pressures to de-monetize truth in any articles or videos that could threaten the established hierarchy.

Additionally, the Federal government has also gotten into the act of attempting to silence alternative media by voting to label non-controlled media outlets as 'foreign agents'.

So in response to this, there are now two movements in place to use cryptocurrencies as the means to acquire capital which would allow independent and alternative media journalists the ability to continue their fight against big media and their fake news and propaganda.

The new virtual currency, named PressCoin, is aimed at empowering independent journalists with new tools to stand against fake news, as well as improving their objectiveness and financial independence. PressCoin is reportedly expected to wean journalism off the advertising revenue model, upending corporate media monopolies with collaborative content. 
“Today journalists are bound to the vested interests of publishers. More and more publishers are chasing advertising dollars. To get views, they defer to social media platforms. And so does their content. This not only compromises the integrity of quality, independent journalism, it also pushes money onto social media platforms,” says Amit Rathore, PressCoin’s President, as quoted by Payment Week, a New York-based magazine covering mobile payments. 
A 28-day initial coin offering (ICO) is scheduled on November 22, with an initial price of one PressCoin set at one US dollar. The cryptocurrency is registered in the UK and will be operated as a public limited company after the ICO is completed. The creators are planning to publicly release 100,000,000 units to investors during the offering. – Russia Today
In addition to PressCoin, Steve St. Angelo over at SRSRocco has created their own alternative media network called the Commodity Ad Network which is also funded by cryptocurrencies through an ICO, and is expected to go live by the beginning of next year.