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?

Monday, July 30, 2018

U.S. rejects joining China on their Silk Road initiative and instead seeks to create their own competitive Asian development project

In President Trump's pursuit of trying to Make America Great Again both domestically and abroad, it appears that in the realm of economics he wants to primarily go it alone.

Over the course of the last several months, President Trump has sought to take on Canada, Mexico, China, the EU, and even Russia when it comes to energy, trade, and tariffs.  But now here at the end of July, his administration is gunning for a bailiwick that Beijing has dominated for most of this decade.

Development in the Far East.

The US government is expanding its infrastructure development drive in the Asia-Pacific region using new investment programmes, amid rising anxiety in Washington about China’s aggressive overseas development policies. 
Announced by Secretary of State Mike Pompeo on Monday, the initiative comes following concerns about the Trump administration’s commitment to engaging with countries in the Indo-Pacific region. 
In response to China’s ambitious Belt and Road Initiative – a group of multibillion-dollar transport and power projects that Beijing has used to assert its influence in Asia and beyond – Pompeo’s “Indo-Pacific Economic Vision” will increase the financial support that the US government provides to countries in the region through a newly merged government agency, the US International Development Finance Corporation (USIDFC). – South China Morning Post
The saddest things regarding Trump's new East Asia policy is that China has on multiple occasions asked the U.S. to be a part of their Silk Road project, and also to become a high level member of the Asian Infrastructure and Investment Bank (AIIB)/  Yet each time they have been asked, the U.S. has rejected these overtures to instead continue on with their policies of coercion and economic sanctions to get their way. Additionally, the Trump administration also appears to be abandoning, or at the very least tabling his promise to initiate a major infrastructure development project here in the United States.

While globalism as a policy does little to help individuals or the world as a whole, joint cooperation between nations when it comes to trade and development is a win-win for everyone involved.  But unfortunately while the President's motives to Make America Great Again are to be lauded on the domestic side, choosing to challenge China in their own backyard will end up being an even greater folly than what has already transpired in the ongoing trade war.

Shotgun Economics update for July 30 2018 - Financial Markets and Economic Wrapup

Sunday, July 29, 2018

Blockchain company wants to create network of holistic health centers which will accept cryptocurreny payments

Since primary retailers have yet to fully by into cryptocurrencies as a real medium of exchange, it is likely that the catalyst for this will come from companies that create their own goods and services businesses from the ground floor.  And perhaps this may begin with a Blockchain company called Bitvit, which is seeking to create a network of holistic health centers that will accept cryptocurrency payments.

Although life expectancies around the world are soaring, BitVit argues that many of these extra years are dominated by sickness for too many years. Research cited in its white paper suggests German women can currently expect to live until they are 83, but only 72 of those years will be in good health. For men the average lifespan is 78 years, with nine of them blighted by sickness. 
BitVit hopes to offer a “holistic solution” which would involve creating an intellectual exchange among industry experts and scientists, with their expertise then being shared with the public. It is hoped that future generations will be “more knowledgeable and healthier as a result.” 
At the heart of its concept will be Yllasports centers. As well as being able to rent sports equipment such as bicycles and receive training from former professional athletes, the company plans to offer an array of activities at these centers including yoga, Pilates, Zumba, cardiovascular training and specialist lessons for seniors. 
There would also be an emphasis on nutrition, allowing customers to engage with cooking classes, counseling and weight loss challenges. Meanwhile, nutrition plans would be devised which help the public to alleviate skin conditions, improve heart health, lower blood pressure and improve their mental wellbeing. 
BitVit envisages that all of these goods and services would be paid for using a specially created cryptocurrency known as the BitVit Coin. This payment method would be accepted at every sports center – with customers receiving bonus coins and discounts whenever a transaction is successfully completed. - Cointelegraph
With healthcare costs in the West soaring multiple times the rate of inflation, tens of billions of dollars are being spent each year on alternative and preventative means of ensuring one's health and well being.  And since this is especially true for the millennial generation, who are putting in a conscious effort to eat more healthy and spurn traditional healthcare options, the melding of cryptocurrencies and alternative healthcare may find a foothold especially in this younger demographic.

Discussion at the BRICS Summit included finding ways to bypass current global financial system if U.S. and Europe continue to be ruled by central banks

As the 2018 BRICS Summit came to a close on Friday, few if any media outposts mentioned an intriguing discussion that took place between the original BRICS members of Brazil, Russia, India, China, and South Africa, and their added partners of Argentina, Indonesia, Nigeria, and Turkey.

By this we mean that during the three day conference, the members held serious talks on ways they could bypass the current global financial system and function outside of it should the U.S. and Europe continue to be run by central banks into the future.

Harley Schlanger: "I think it's worth talking about something I'm sure is not being covered in the United States, which is the BRICS Summit going on in South Africa right now." 
"This is really significant because Xi Jinping is there, President Putin is there, but you also have what they are now calling the BRICS Plus.  They have Argentina, Turkey, Indonesia, and Nigeria is there, and what they are really talking about now, in a very concentrated way, is that if the European and American economies continue to insist on central bank dollar policies, they are moving towards a new financial system." 
"And they say they are not doing it to punish the West, it's that the Western system doesn't finance development." - Rogue Money Interview with Harley Schlanger
Despite $10's of trillions created by the central banks to save the financial system and 'kick start' the global economy following the 2008 Financial Crisis, hardly a drop of this money has actually gone into economic growth and infrastructure development in the West.  As a matter of fact, all one has to do is look at cities like Detroit and Baltimore to agree with an assessment made back in 2016 on CNBC that America's infrastructure is equivalent to that of a third world nation.

Besides the Silk Road (One Belt, One Road) project initiated by China, the BRICS nations as a whole are fully integrated into real development over the financialization that has taken over New York and London in the past decade.  And besides the BRICS Development Bank cobbled together by the Big Five member states, China has also created its own Asian Infrastructure and Investment Bank (AIIB) which is right now doing amazing things on the African continent.

In the 1920's President Calvin Coolidge said that the 'Business of America was business".  But nearly 100 years later, the real businesses of America is in using the dollar to make the banks and 1%ers increasingly more wealthy.  And because of this it is appearing more likely that the 21st century will belong to nations such as China, Russia, and India, who have seized upon Coolidge's motto and are even willing to disconnect from the old central bank system to achieve it.

Friday, July 27, 2018

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

Newest Bernie Sanders scheme is to abolish bail for criminals because its racist

Perhaps in an attempt to regain the spotlight from the Democratic Party's newest Socialist celebrity, Senator Bernie Sanders is back with his newest scheme to condone crime and violence by calling bail requirements racist.

The US practice of money bail amounts to racist debtor prisons, Senator Bernie Sanders (I-Vermont) is arguing. He has proposed a bill that would end cash bail in federal jails and put pressure on states to abolish it as well. 
Requiring those arrested to post money bail as a guarantee of their appearance in court, or remain locked up before their trial, amounts to criminalizing poverty and is racist because it disproportionately affects minorities, Sanders wrote in the article published by NBC News on Friday. 
On Wednesday, the self-described democratic socialist introduced the No Money Bail Act, which would abolish the use of cash bail in federal courts. If states choose not to follow suit, the law would “revoke certain federal criminal justice funds the state currently receives,” Sanders wrote. Congressman Ted Lieu (D-California) has introduced a similar bill in the House of Representatives. – Russia Today
While Google does a great job in making it difficult to find annual statistics on the number of Americans who skip bail or don't show up for their hearings, over in the UK it is estimated that upwards of 70,000 each year fail to appear after posting bail to get out of lockup.

The problem as always is not whether bail obligations hurt minorities more than they do everyone else, it is that the U.S. has too many laws that cost the taxpayers tens of billions of dollars each year to arrest, try, and convict individuals for victimless crimes.  But for those who are arrested for felonies that do affect the lives and property of people other than themselves, the real solution is simply not to commit the crime at all.

The tables turn for gold holders as it appears that China, more than the U.S., is manipulating gold prices to protect their currency

The primary reason that the U.S. demonitized gold and tied its price to the Futures market was to protect the dollar as the nation embarked upon a 40 plus year program of credit expansion and devaluation.  Yet even with this process of detouring gold into the realm of commodities over that of money, there have been certain times where even the central banks and powers that be lost control over the price such as in 1980 and 2011.

Prior to the 1970's, inflation was something that even the Fed found abhorrent and worked extremely hard to cull anytime economic expansion created higher prices.  But once the U.S. was removed from the gold standard, the opposite occurred since debt requires inflation and ever expanding money supplies to be able to afford to pay off these obligations with inflated currency.

When the Great Recession hit following the 2008 Financial collapse, deflation had reached a point where the dollar fell to 72 on the dollar index and gold prices skyrocketed to around $1940 per ounce.  And with the central bank finding itself forced to engage in a credit expansion program that would entail the creation of $10's of trillions in printed money, something had to be done to keep trust in the dollar while at the same time moving sentiment away from the growing trend for people to store their wealth in gold.

Thus the futures market began to allow naked shorting on a scale never before seen in history, and subsequently manipulation of gold and silver futures contracts led to not only the price falling nearly 50% in a short period of time, but sentiment for the precious metals was nearly wiped out as well.

Fast forward to 2015.

In late 2015 China expanded the Shanghai Gold Exchange to engineer its own gold futures contracts which unlike those in London and Chicago, guaranteed the potential for delivery if customers so chose.  And within a year and a half China became the world's largest physical gold market, even charging higher premiums than what was stated each day out of London.

Additionally, over the past 12 months it is appearing that China has tied their currency to the price of gold, and it is likely that the recent fall in gold prices are tied not to U.S. manipulation, but rather from China as they embark on a major devaluation of the Yuan.
Now that China seems to have seized control of the gold price, capping and suppressing it to knock commodity prices down, thereby easing the de-facto devaluation of the yuan in China’s trade war with the United States, the gold sector is more demoralized than ever. The only pulses left in the sector seem to belong to mining executives and internet sites touting shares to an ever-diminishing audience. – Silver Doctors

The fact that central banks through their primary dealers (bullion banks) must manipulate the gold price to protect their own currencies validates that gold is (and always has been) money.  And so when we look to what factors in the future will push gold prices higher, and back up to where they should be minus the years of intervention, then we must look at the currencies for that answer, and in particular, those of the dollar, and now also, the Chinese Yuan.

Thursday, July 26, 2018

Murder on the Blockchain Express: Betting platform on Blockchain allows you to wager on which politicians or celebrities will die

While in the UK most betting establishments will allow you to wager on esoteric events such as political elections, Brexit, and even whether the U.S. and North Korea would engage in a nuclear war, the one area that has remained fairly taboo has been predictions on what day or year someone would die or perhaps even be assassinated.

But now that we have the Blockchain, and an unregulated/decentralized platform where programmers can create virtually anything that is outside the control or regulation of sovereign entities, one wagering entity has chosen to cross that 'red line' and is allowing individuals to bet upon whether Wall Street mogul Warren Buffet will die before the end of the decade, or if President Trump will be assassinated before the end of the year.

In one niche corner of the cryptocurrency world, an ethical debate is raging. The topic of contention is not exchange rates or squabbles over which virtual money is king, but so-called “assassination markets” where users can place bets on the likelihood of celebrity deaths. 
So far, U.S. president Donald Trump, Amazon CEO Jeff Bezos, actor Betty White and senator John McCain have been the subject of death predictions on a new platform called Augur. Launched this month by a non-profit called the Forecast Foundation, the service is powered on the Ethereum blockchain and designed to place wagers on the chance of events coming true. “Predict the next election, short a cryptocurrency, or hedge against disaster,” the pitch reads
Augur is a free, open source software for users to create their own prediction markets. Contracts use the Ethereum blockchain, which is a form of distributed leger technology that records all transactions. The controversy over its “assassination markets”—not a totally new phenomenon—has been fueled by the platform developers' claims that they do not have the ability to “censor, restrict, control, modify, change, revoke, terminate or make any changes to markets.” – Newsweek
One of the primary reasons why betting on someone's death is a tricky business is because it is too easy for a wagerer to turn their bet into a self-fulfilling prophecy.  Ie... where something like betting on whether the Brexit referendum would pass a few years ago requires collusion from millions of voters, all it takes is a few hundred dollars and a willing participant to assassinate someone on your wagering list for you to profit on murder.

The most important thing people missed from yesterday's trade agreement with the EU is that Trump's end goal is elimination of all tariffs

Politics and geo-politics are anything if not ironic.  And we saw this play out again yesterday following the positive outcome and remarks made between the EU's Jean-Claude Junker and President Trump after three hours of trade talks.

Heading into yesterday's discussions, both the U.S. and the European Union were prepared to immediately institute tariffs on automobile exports as analysts and pundits continued to ignorantly promote a trade war scenario as a means to try to vilify the President.  However the reality that appears to have been overlooked by the mainstream propaganda media is that from the beginning, Trump's end goal has always been the elimination of all tariffs, not the implementation of them.

The EU and US also agreed to launch new negotiations aimed at defusing rising transatlantic trade tensions: the two leaders said they had agreed to work together towards eliminating all tariffs, trade barriers and subsidies related to non-auto industrial goods. They also said they would work together to reform the World Trade Organization and reduce trading costs and regulatory barriers across the Atlantic.- Zerohedge
The U.S. doesn't export a great deal anymore, but what they do send overseas in search of markets is often vastly superior to what most other nations have as an equivalent.  And you can see this especially in Europe where companies trying to compete with the Microsoft's, Google's, and Facebook's have to run to Brussels demanding intervention which often results in extraordinary fines, or expectations that these U.S. companies will willingly either give up or open up their Intellectual Property.

The reality is that the EU, Japan, China, Mexico, China, and most other nations have for year put tariffs or 'fees' on U.S. goods being imported into their countries or regions.  And with U.S. politicians having long ago been bought and paid for by the corporations, the result has been that they have done little or nothing about these unfair practices.  However now that there is someone in the White House not beholden to the globalists or corporations, and who is more than willing to see the global financial and trade systems feel a bit of pain in order to force change, very few are seeing that Trump's end goal is not simply that of 'protectionism', but in the elimination of all trade barriers period.
Many observers wrongly confuse Trump’s retaliatory tariffs with his objective, which is the elimination of all trade duties. His trade sanctions against Canada, although blunt and costly instruments, are conducted regrettably and in response to barriers and manipulation across the border. – Epoch Times

Wednesday, July 25, 2018

Suddenly, both the courts and the government are protecting 2nd amendment rights for all Americans

In just the past few days, two rulings came down regarding the right of the people to not only own a firearm, but also in how they can use it.

The first was a settlement by the State Department and DOJ regarding a programmer and gun enthusiast who published free plans online for the making of an AR-15 using a 3-D printer.  And in the settlement the government even went as far as stating that AR-15's are not considered 'military grade' weapons.

On July 10, 2018, Breitbart News reported that the Second Amendment Foundation (SAF) brought a suit against the State Department on Wilson’s behalf. The suit was filed in 2015 and was the result of State Department action to force Wilson to quit sharing 3-D gun files online. 
Wilson and SAF fought the suit on First Amendment grounds and secured a settlement with the State Department and the Department of Justice, the latter of which finalizes the settlement. 
The amended regulations proposed in the settlement show the government will no longer look at semi-automatic firearms below .50 caliber as “military equipment” or weapons of war. - Breitbart
The second positive ruling for 2nd Amendment advocates came from the 9th circuit court of appeals, which ruled on July 24 that states cannot ban eligible citizens from carrying their firearms 'open carry' outside their homes, and anywhere permissible for self-defense purposes.
A three-judge panel of the Ninth Circuit has just ruled that the right to openly carry a firearm for the purpose of self-defense is a protected activity under the Second Amendment. The case is  
Young vs. Hawaii and the lawsuit challenges a Hawaii law, which says A concealed carry or open carry permit is only issued once you’ve convinced the local police chief that you are engaged in an activity “[w]here the urgency or the need has been sufficiently indicated” and the applicant “is engaged in the protection of life and property.” – Silver Doctors
Now we just need these same courts to overturn so many other unconstitutional laws put in place over the years that are in violation of the Bill of Rights... such as prosecuting so-called 'hate speech', affirmative action preferences, and of course, the Patriot Act.

The Daily Economist update for July 25 2018 - Financial Markets and Economic Wrapup

China to expand gold market authority on Silk Road by backing new operation in Sri Lanka

On July 25, the Shanghai Gold Exchange is backing a move to create a new hub in Sri Lanka which will facilitate a market for gold, gems, and jewelry along their Silk Road (Belt and Road) project.

A Chinese gold mining giant announced that it is ready to set up an international standard, modern gold, gem and jewellery hub in Sri Lanka adding that such a hub boosts China’s OBOR plans on the country. The Chinese firm, Sanmenxio Jinqu Group, is backed by the world’s largest physical gold exchange – the Shanghai Gold Exchange. 
“This is the first ever such foreign facility proposed to be set up in Colombo, and it shall also be an extension of China’s One Belt One Road (OBOR) plans on Sri Lanka” said Xu Yujin, the Chairman of Sanmenxio Jinqu Group in China’s Henan province. “A modern, state of the art gem and jewellery bourse will uplift Sri Lanka’s gem and jewellery sector in many ways and attract Chinese tourists too” added Chairman Yujin addressing the Minister of Industry and Commerce Rishad Bathiudeen on 24 July in Colombo. Chairman Yujin, joined by Sanmenxio prefecture city’s Vice Mayor Sun Jiwei and Ms Leah Wan, Director of Jinqu Gold (a subsidiary of Sanmenxio Jinqu Group) was leading a seven-man business delegation to Sri Lanka when he met Minister Bathiudeen in Colombo. Joining the session was MNM Ramzeen, Director of Batcha Gems, Colombo 4. Ramzeen’s Batcha Gems has international offices in China and Japan. – Biz English
China's expansion along the Silk Road to create primary hubs is moving along quickly, especially with last month's MOU with the UAE, and one earlier this year with Qatar. 

State of Nevada to expand upon gold and silver recognition as money by introducing a gold bearing bond

Stocks, bonds, futures, options, derivatives, annuities... what do these financial instruments all have in common in the United States?  They are all denominated at their foundation in dollars.

So has the question been all along not whether the stock market will keep going up, or that the return on bonds isn't high enough, but rather is the real problem that no matter what 'yield' you might get from an investment, the value of that return always declines in the end?

This question is the real reason why holding your wealth in gold is crucial in an environment where the purchasing power (value) of our nation's primary currency has declined to the point where it is only worth about $.04 of its original value.

So with this in mind, one state in the list of states that have re-legitimized gold and silver as money is looking towards taking the next step by proposing legislation that would allow individuals and businesses to invest in a state held bond which would pay them their proceeds not in dollars, but in physical gold.

For many investors gold’s biggest problem is that the precious metal does not provide a yield. However, one Nevada lawmaker is hoping to change that. 
Earlier this month, Nevada Assemblyman Jim Marchant introduced legislation, proposing to create a Nevada gold bond that offers a yield in physical gold. 
“The idea behind this bill is to promote the idea of honest money,” he said in an interview with Kitco News. “Our currency loses 2% of its value and its purchasing power every year and I see that as a problem. I see my constituents investing in paper-backed Nevada bonds losing money and I want to help them get out of this hole,” he said. 
Marchant explained because of Nevada’s rich gold deposit, the state is in the perfect position to create these yield-bearing precious metal bonds. According to state officials, Nevada was the top gold-producing state in the U.S. and was fifth in worldwide production. - Kitco
Think about this.  Not only could individuals replace investing their money in a negligible yield bearing instrument like a CD, but mining operations could coordinate with the State of Nevada to sell bonds as a means to acquire capital and pay back investors with their mined output.

Gold satisfies the old adage that goes, "Im not worried about a return on my investment, but rather the return OF my investment".  And since the value of the dollar in today's credit and debt system continues to decline, even holding pat in gold without any yield is a positive outcome over simply holding your wealth in cash. 

Russia's gold accumulation signals their belief that a global currency reset is not only inevitable, but also near

Over the past two months Russia has sold off 85% of their dollar reserves and used the proceeds to primarily buy physical gold.  And according to mining guru Keith Neumeyer, they are doing this rapidly because Moscow expects the current global monetary system to change in a reset which will see a return to gold playing a significant part in whatever new system emerges.

Keith Neumeyer, chairman of the board of First Mining Gold, a Vancouver-based development firm, said that the reason for Moscow's rush to pull out of US T-bills and grow its reserves of gold was obvious. 
"I'm certain that a global reset will take place when the governments of the world need to rid themselves of debt, and that they will tie everything to the price of gold. That's why countries like Russia and China are accumulating gold – they know what may happen a few years from now," he said.- Sputnik News
At the heart of this need for a global reset is the accelerating growth of debt that has not only become unsustainable and unpayable, but also which is now threatening the entire financial system since central banks are being forced to pull back their credit expansion due to the specter of inflation.

In the aftermath of the 2008 financial crisis, a global economic recession – possibly the deepest, and most definitely the longest that the world has ever seen – took hold. The billions of taxpayer dollars that had been spent on bailing out the banks, combined with huge amounts of quantitative easing and reducing interest rates to rock-bottom levels, resulted in advanced economies holding the highest public debt-to-GDP ratios that had ever been seen. 
To make matters worse, that debt, even now, continues to grow. Currently, global debt has risen to more than $57trn and, according to the management consultancy firm McKinsey & Company, this has subsequently increased the ratio of debt-to-GDP globally by more than 17 percentage points. With global debt at these levels, the compound annual growth rate comes in at 5.3 percent; far exceeding the 3.3 percent global growth predicted by the International Monetary Fund (IMF) in 2015 and the 3.8 percent that the organisation expects the world to achieve by the end of 2016. In short, the world is going to struggle to pay off the interest, let alone make any meaningful dent in the debt itself. 
This massive accumulation of debt around the world, combined with the fact that very little has been done to deleverage the global economy both in terms of household or public debt, has led many commentators to contend that the seeds for the next economic crisis have already been sown. Some are even predicting that another global meltdown is imminent. If that is the case, it is important to understand how the world has arrived at this position – and, more importantly, to try and ascertain what will happen when the world eventually buckles under its own debt. – World Finance
Ironically there has been only one industrialized country who has even bothered to pay down their debt since 2008.  And that nation is of course Russia, who has not only paid off outstanding debts from the time of the former Soviet Union, but also has gotten their current national debt levels below $500 billion.  Which means that when you add this debt to the value of their gold reserves currently on hand, they are now completely solvent and in fact have a permanent surplus and not just an annualized budgetary one.

Little debt, a vast network of energy and agricultural production, and now gold reserves that at least place them in the top 5 in the world point towards the fact that when the next financial crisis comes, and the world defaults into having to perform a full monetary reset, Russia will find themselves as one of the global economic powerhouses and back at their rightful place in overseeing global events.

Tuesday, July 24, 2018

Venezuela expected to surpass Weimar hyperinflation rate by end of year according to IMF

It appears that it is time to start going long on wheelbarrows as a new report from the IMF on July 24 estimates that Venezuela's hyperinflation will meet or exceed that of Germany's Weimar Republic by the end of this year.

Venezuela is facing one of the worst hyperinflationary crises in modern history, according to the International Monetary Fund (IMF). 
It expects the country’s economy to contract by 18 percent this year amid falling oil production – the third consecutive year of double-digit declines, and three points worse than projected in May. 
“We are projecting a surge in inflation to 1,000,000 percent by end-2018 to signal that the situation in Venezuela is similar to that in Germany in 1923 or Zimbabwe in the late 2000s,” said Alejandro Werner, head of the IMF’s Western Hemisphere Department. – Russia Today
Germany's hyperinflation came from the aftermath of World War I and the brutal sanctions imposed upon them by the Versailles Treaty.  Venezuela's hyperinflation however is a product of the Socialist policies of Nicholas Maduro who took over leadership in Venezuela following the death of Hugo Chavez.

What stands out the most in Venezuela's economic plight is that they are a relatively industrialized country, with some of the largest oil reserves on the planet.  And as a member of OPEC, their insolvency can squarely be placed at the feet of the government, and not at the 'economic sanctions' placed upon them late in the game by the United States.

Korean salvaging company to create a new crypto backed with the gold expected to be found in Russian shipwreck

In 1905 when the Dmitri Donskoi sank off the coast of Korea, the world was still on a gold standard.  Now 113 years later, digital currencies like Bitcoin are quickly working towards supplanting the metal as the next form of money.

So with this in mind it should not be surprising that the salvaging company that found the submerged wreck is planning on taking the proceeds from the estimated $130 billion worth of recoverable gold and using it to back a cryptocurrency they will forge through a new ICO.

South Korea treasure hunting company, Shinil Group has stated that they have discovered $130 Billion from the shipwreck of Russian cruiser Dmitrii Donskoi. With such a huge amount they have planned to launch ICO. 
As per the latest news, the company has posted a picture of the battleships in order to prove it. It has been discovered near Ulleungdo island and the company has confirmed they are going to launch ICO where the crypto token will be backed by the newly found treasure. 
The company has uploaded a video on YouTube showing how they come to know about the same and unveiled it. They took two days to make it successful and have decided the manner of distributing the amount. 
They claimed that Russia will be given half of the gold, Island of Ulleungdo will be donated 10% of it as fund tourism. Finally, as there reward they stated that the team will launch its own cryptocurrency titled ‘Shinil Gold Coin’. 
According to the framed policies it has been made clear that ICO will be commenced from 30th July. Moreover, they also reported that one gold coin will amount to 10,000 won ($8.87). August and September are the finalized month on which the tokens will be released to display on various exchange list. - Koinalert
While most new ICO's have not fared well over the past six months, lately there has been a resurgence in both volume and price for tokens like Bitcoin.  But for now like with any potential investment, one needs to wait for the full outline and validation of the gold before choosing to put their money in any cryptocurrency scheme.

Monday, July 23, 2018

The Daily Economist update for July 23 2018 - Financial Markets and Economic Wrapup

New Italian government minister rejects EU and U.S. narrative on Ukraine by saying it was a foreign funded 'fake' revolution

With the new Italian government having proved it is more than willing to take on the bureaucrats in Brussels over EU policies that have kept the Southern state in perpetual austerity over the past decade, on July 19 the Minister of the Interior proved that they are also willing to challenge EU and U.S. policies over Russia.

And in particular, over the narrative that the Maidan Coup was a completely internal revolution sparked by the Ukrainian people.

Ukraine was infuriated by Salvini's comments made during his interview with the Washington Post, published earlier this week. WaPo senior associate editor Lally Weymouth tried to grill the minister over his support for Crimea’s return to Russia, calling the referendum that took place in Crimea in 2014 "fake." 
Q. You said that Russia had a right to annex Crimea? A. There was a referendum.Q. It was a fake referendum. A. [That is your] point of view. . . . There was a referendum, and 90 percent of the people voted for the return of Crimea to the Russian Federation. 
Salvini shot back, saying "compare it to the fake revolution in Ukraine, which was a pseudo-revolution funded by foreign powers – similar to the Arab Spring revolutions" adding that "There are some historically Russian zones with Russian culture and traditions which legitimately belong to the Russian Federation." - Zerohedge
There is already an extraordinary amount of evidence that the Maidan coup was a foreign funded operation which entailed the U.S. State Department, the CIA, George Soros, and MI-6.  And when you couple in the fact that former Vice-President Joe Biden sent his son to Ukraine to take over control of their largest energy company and a former State Department official became Ukraine's Finance Minister, you see how this event has too many Deep State 'fingerprints'.
Natalie Ann Jaresko (UkrainianНаталія Енн Яресько; born 24 April 1965) is an American-born Ukrainian investment banker who served as Ukraine's Minister of Finance from December 2014 until April 2016.[1] In 20 March 2017, she was appointed as Executive Director of the Financial Oversight & Management Board for Puerto Rico. 
Jaresko held several economics-related positions at the US Department of State in Washington, D.C., and eventually coordinated activities of the State Department, the Departments of CommerceTreasury, the United States Trade Representative, and Overseas Private Investment Corporation (OPIC) in their economic relations with the Soviet Union and its successors. As part of her work she interacted with the International Monetary FundWorld Bank, and the European Bank for Reconstruction and Development. Later from 1992 to 1995, she was the first Chief of the Economic Section of the U.S. Embassy in Ukraine, responsible for strengthening economic cooperation between the two countries. She has been a governor of the European Bank for Reconstruction and Development. In 2003 she was awarded the Ukrainian Order of Princess Olga for her contributions to the Ukrainian economy.

Italy has become one the newest members of the populist revolt that is sweeping the West, and changing both governments and outlooks within Europe and the U.S..  And with more and more countries shedding off the propaganda and false narratives that leaders in Washington, Berlin, and London have been promoting over the past decade to try to vilify Russia, more and more politicians like Salvini will find the courage to call out events like the Ukraine coup as what they are... foreign policy activities by the Deep State.

Trump appears to be setting up Fed to take fall for next financial crash just as central bank is trying to do the same to him

Late last week there was alot of discussion made over President Donald Trump's comments calling for the Fed to temper its raising of interest rates while at the same time washing his hands of the economy by saying he 'trusts' the Fed's policies over the monetary and financial systems.

“We go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best,” Trump said. 
“I don’t like all of this work that we’re putting into the economy and then I see rates going up.” – The Hill
 As you can see beneath the surface in this statement, Trump is promoting his fiscal policies of tax reform and going after global unfair trade practices as being good for the economy, while also highlighting the fact that it was the Fed's raising of rates back in 2006-08 that led to the bursting of the Housing bubble and subsequent Financial Crisis and Great Recession.

In essence he is trying to insure that when the next financial recession or collapse comes, people remember that the precursor to this was due to the central bank raising interest rates and cutting off credit.

Meanwhile the Fed over the past month has been trying its best to remove itself from the spotlight, especially because both inflation and housing have been reacting negatively to their raising of rates and tightening of their balance sheet.  And in several statements made both at the most recent FOMC meeting and by Fed officials, their language has been including the fact that the economy is turning negative not because of their own policies, but because of the President's trade and tariff wars.
Federal Reserve Chairman Jerome Powell said Wednesday that the central bank has tools it can use to cushion the potential economic fallout from a trade war. But he told Congress the effort could be challenging if higher tariffs push inflation up too sharply. 
If the retaliatory tariffs imposed by other countries slowed U.S. economy, Powell said the Fed could employ its normal tools, such as lowering interest rates. 
But he said that could become complicated if higher U.S. tariffs on foreign products caused inflation to accelerate. That's because the Fed's normal response to higher inflation is to raise interest rates, not lower them. – ABC News
However behind the scenes, and outside their rhetorical jawboning, the Fed is highly cognizant of how the economy and financial systems are really doing and how analysts could very easily put two and two together to show that they are the ones actually creating the next financial crisis.  And you can see this in the fact that they have now removed their live balance sheet report from the FRED website and are claiming to no longer be paying attention to the highly important yield curve which has predicted recessions at a near 100% clip.

However, I wanted to make sure I was viewing the yield curve through the proper lens, so I called Arturo Estrella, a former economist at the New York Federal Reserve, who co-authored several important research papers on the predictive powers of the curve. 
Estrella agreed that the flattening of the yield curve, and, more specifically, an inverted curve, has accurately preceeded every recession the U.S. has experienced since 1968, without fail. The average time from a completely flat, or inverted, curve to a recession is 12 months … in this case, that would suggest a recession by next June. 
The problem, he told me, is that economists today are looking at the wrong curve.
In his research, the curve that was most important involved the spread between the 10-year note and the 3-month T-bill. And while that curve has also flattened, today it's at 98 basis points; it is NOT flat enough to predict a recession next year. He said this is not a red alert … at least not yet. 
Irrespective of all other concerns, and the behavior of all other markets, historically, the 10-year to 3-month spread was the single best indicator of a recession anywhere from 9 months to 15 months down the road. - CNBC
As you can see the former Fed economist outright ADMITS that the flattening and subsequent inversion of the 30 and 10 year yields has correctly predicted recession, but then tries to push the reader towards a less important yield ratio to justify the Fed's opinion that the economy is still just fine and smelling like roses.

Is it any wonder that Greenspan and Bernanke both admitted they never saw the 2008 Financial Crash coming?

Without a doubt, the next recession/financial crash will completely be a result of the policies of the Federal Reserve, who has had complete control over both monetary and fiscal policies ever since Senator Church Schumer surrendered government control and told Bernanke to 'get to work' back in 2010.  But with President Trump now willing to wrest back control over fiscal policies from the Fed, and publicly question their monetary policies as being a problem for the economy, the battle over who is better at scapegoating whom could very well result in either a lame duck Presidency, or Trump getting the opening he needs to audit the central bank, and and remove a great deal of its acquired power.

Yuan denominated oil contract no flash in the pan as it continues to take market share from London and Chicago

When China launched its yuan-denominated oil futures contract back in March of this year, they proved very quickly that an alternative to the Petrodollar was both wanted and needed by the global community.  And this was shown by the fact that on the very first day of trading, the new yuan-denominated futures contract had more single day volume than an average day for the London-Brent market.

Two months later, this Chinese led Petroyuan had risen to consume 12% of the global futures market and this appears to simply be the beginning as a new chart updated for July shows that market share for the yuan in the oil market is still continuing to grow.

It began operations in March of this year "with the clear intention of having less dependence on the US currency, which has greater strength and negotiating capacity in the energy price of the market," industry analysts highlight its relevance to China, Russia, Iran and even Venezuela.
A recent report by SaxoBank shows that just 17 weeks after its launch, the petroyuan continues to take a share in the Brent and WTI crude market, even though its trading hours are much shorter.
Its average market share of four weeks rose above 11% last week, and has been setting maximum levels in its use, as seen in the attached image. (see yellow area) - Valoraamalitik
While the numbers today may be small in comparison to the 40+ year reign that both Brent and WTI have had over the global oil markets, all one has to do is look at how China captured the global gold sector in just a few short years following their creation of a yuan-denominated gold contract, and their subsequent move to become the world's largest physical gold market.

Friday, July 20, 2018

The Daily Economist update for July 20 2018 - Financial Markets and Economic Wrapup

From the rise of the Fed to Donald Trump... 100 years of Populism may find us full circle from central banks to the return of the gold standard

President Donald Trump has not been shy about speaking out his thoughts on Fed policy, and indeed has broken a great deal of tradition by the Executive Branch in recent years not to interfere with the 'independent' central bank.

Presidents never, or rarely, comment on monetary policy or currency market moves for that matter (ex, the hackneyed meme “a strong dollar is the best interest of the United States.”) 
President Trump hit them all in this interview, from the Fed to the Euro and Chinese RMB (“dropping like a rock”).  It doesn’t surprise us. 
Recall our March 21st post, The Biggest Risk At The Fed.But this doesn’t concern us as much as the Fed’s independence.“Just let it rip”That is we are worried more about the freedom from White House pressure and interference in conducting monetary policy than getting a few bps wrong on the Fed Funds rate.   This is especially true and relevant given the strongman tendencies and  lack of respect for institutional norms of the current president.Here is Larry Kudlow, the president’s new chief economic adviser: Kudlow said of economic growth in the U.S., during a more than hour-long interview Wednesday on CNBC. “The market’s going to take care of itself. The whole story’s going to take care of itself. The Fed’s going to do what it has to do, but I hope they don’t overdo it.”  – CNN– Global Macro Monitor,  March 21, 2018  - Zerohedge
Yet while there have been a number of times in the central bank's 105 year history where administrations have butted heads with Federal Reserve, for the most part the bank has remained the authoritative body for all monetary policy.

What is perhaps most interesting is that the creation of the Fed occurred during the nation's last great populist movement (1900 - 1920), and ironically during the same two decades 100 years ago in which we are experiencing a revival of that same movement.  And where the original idea for our current central bank took place after a banking crisis in 1907, the rise of the latest populist movement appears to have also occurred almost exactly 100 years later following the Credit Crisis of 2008.

In fact you can almost pinpoint where this movement started in the month's long protests from what would become Occupy Wall Street, and where this would subsequently evolve into the TEA Party movement, the Ron Paul Revolution, and the rise of Donald Trump and Bernie Sanders during the 2016 election cycle.  But at the core of both of their ideals (Make America Great Again and the need for Socialism to deal with income inequality) is the fact that the underlying reason for where we are at remains a monetary system that is based on credit versus the tangibility of a gold standard.

And in a new analysis put out here on July 20 by Bank of America's Michael Hartnett, the banker asserts that the end goal of this round of populism is a full circle return to where the central bank ends, and the gold standard reemerges.
In his latest weekly Flow Show, BofA's Michael Hartnett touches on a familiar topic: the rise of global populism and where it ultimately ends: "the end of central bank independence", which he calls the ultimately populist policy.  
Confirming something we have said since inception and explaining - once again - the advent of such phenomena as Brexit, the European backlash against immigrants, and of course, Donald Trump, the BofA strategist writes that "central bank policies of QE, NIRP, ZIRP have unquestionably exacerbated the gap between Wall St & Main St in past decade." 
With the great divide between the haves and have nots continuing to grow - despite the election of numerous populist leaders in nations around the globe, most recently Malaysia, Austria, and Mexico - BofA warns that the inability of monetary & fiscal policy, global synchronized recovery, and record corporate profits to create sustained wage growth, investors must discount more protectionism, redistribution & ultimately debt monetization via central banks in coming years... all trends that a recession would dramatically accelerate. 
Hartnett then present the one asset class which he thinks will be the ultimate winner in the coming class wars:  gold is the secular beneficiary of the War on Inequality - Zerohedge
The two eras in American history where income inequality were at its greatest were both periods of time when the Fed conducted monetary policies of cheap credit (1920 - 1929 and 2009 - 2018).  And while the result for the first was a catastrophic Depression and a near overthrow of the government, the second result still remains to be seen unless the nation's monetary system reverses its course from one where debt and credit is the foundation to that of a gold standard where purchasing power is returned to the people.

Thursday, July 19, 2018

Original preppers: Russia evades Fed confiscation of their gold by losing it in a 'boating accident'

While the title of this article is meant to be tongue in cheek, there are numerous anecdotes that can be gleaned within it following the recent discovery of a Russian vessel that is believed to have sunk carrying an estimated $133 billion in gold during the 1905 Japanese-Russo War.

In a recent interview with Reluctant Preppers, Dr. Jim Willie dropped a bombshell comment where he claimed that one of the primary reasons for the killing of the Romanov family following their ouster by the Bolshevik's in 1918 was so that the City of London/Rothschilds could use the Russian gold stored in their vaults to help fund the Federal Reserve.

Who was the wealthiest man on earth in 1905? Tsar Nicholas Romanov. His brother, King George of England, decided to kill him and steal his gold, take the bulk of it and move it to New York and start the Federal Reserve. The Federal Reserve's foundation gold is stolen Russian gold. Do you see why the Rothschilds want to keep Russia at bay? - Perpetual Assets

According to documents from the time of the sinking of the Dmitrii Donskoi, the value of the lost gold today would bring a price of nearly $133 billion.
According to the Telegraph, the Dmitrii Donskoi was carrying the fleet’s funds and went down with 5,500 boxes containing gold bars as well as a separate haul of 200 tons of gold coins. The gold was being stored in the ship's holds to stop the Japanese seizing it. Shinil Group estimates the gold would have a total value today of just over $130 billion. 
The ship then disappeared for over a century, however it now appears its remains may have been found. - Zerohedge
Inevitably, should the reclamation of this vessel actually recover even a modicum of the gold the ship was supposed to be carrying, it may seem ironic but the 'unforseen' use of the prepper term 'lost my gold in a boating accident' could prove beneficial for Russia as it would mean a return of a national treasure that was kept out of the hands of the banksters when they funded the overthrow of the government primarily to steal the gold held by the ruling family.

The Daily Economist update for July 19 2018 - Financial Markets and Economic Wrapup

It appears that the next public figure to get on the cryptocurrency bandwagon is none other than the former Trump adviser Steve Bannon

There are very few more controversial figures in American politics over the past three years than the former campaign adviser and manager to President Donald Trump.  And of course in this we are referring to Breitbart co-founder Steve Bannon.

Yet while most would think that since he left the administration a little less than a year ago that he would have simply faded into the woodwork like the doomed from the start former Communications Director Anthony Scaramucci, this is far from the truth as Bannon's latest endeavor appears to be in the creation of a new cryptocurrency.

Graphic courtesy of BTC Manager
Steve Bannon, former chief strategist to U.S. President Donald Trump, confirmed that he wants to launch a cryptocurrency of his own. 
Speaking to CNBC on Wednesday, the Breitbart co-founder said "they're the future," adding that "we're working on some tokens now, utility tokens, potentially, for the populist movement on a worldwide basis." 
Bannon first hinted at the idea in June, though at the time he was hesitant about revealing too much about his cryptocurrency plans, according to the New York Times
He did contemplate naming his token the "deplorables coin" at the time, referencing a term used by former Secretary of State and presidential candidate Hillary Clinton to describe Trump's supporters during the 2016 presidential campaign. - Coindesk
Celebrity driven cryptocurrencies have not fared well following the crypto bubble that emerged during 2017.  And in fact new data has revealed that around 80% of all cryptocurrencies and cryptocurrency based projects on the blockchain have failed, or at the very least fallen into the realm of 'penny stocks' according to their value.

It will be interesting to see if Bannon can revive a market that has not only lost investor sentiment, but for the most part has been taken over by Hedge Funds and Wall Street investment banks.  Yet either way, the former adviser to Donald Trump is a very shrewd businessman, and one has to wonder if his crypto idea contains much more than what we see simply on the surface.

Wells Fargo proves once again why you shouldn't keep your money or wealth in a bank

Back between 2011 and 2014, JP Morgan was fined 12 times for illegal financial activity which included Foreclosure Abuse (Robo-signing), illegal credit card practices, and Libor rigging which caused interest rates and payments to be increased for 10's of millions of Americans.  And in all of these activities, very few customers who were defrauded ever received compensation for being a victim of their schemes.

But sadly this institution is not the only one to defraud their customers in more than one way.  And despite the fact that an identity theft and credit card scandal by Wells Fargo led to the resignation of their CEO and several managers, it appears that fraud is simply the cost of doing business for this bank as a new scandal has emerged a little more than a year after their last major one.

Given the seemingly unceasing stream of scandal that has flowed out of Warren Buffett's favorite bank, Wells Fargo, it's hardly surprising that after doing everything from illegally repossessing the cars of American soldiers to fraudulently "cross-selling" credit cards and other products to millions of customers, the bank is now being called out for adding opaque products to the accounts of hundreds of thousands of customers - for services like pet insurance and legal services - without first explaining how to use them. - Zerohedge
When you couple in the fact that since 2010 when the Dodd-Frank banking Reform Act was passed, your money and deposits are no longer considered yours by the institution, and are instead both liabilities and capital they can use to leverage their own investment portfolios while also being allowed to confiscate (rehypothicate) that money should their speculative bets create insolvency.

As the world continues to accumulate record debt levels, economies begin slowing down thanks to central banks tightening their monetary policies, and the ongoing housing bubble begins to burst, there will not be many tangible warning signs telling you when the next financial crash or collapse will occur.  But even then there will be no excuse because everyone will have had 10 years or more to find one of the many alternatives out there to store and use their money that isn't held in a bank that treats its customers like a resource simply to be squeezed.

Wednesday, July 18, 2018

Trump Derangement Syndrome comtinues as former FBI Director Comey labels conservatives as un-American, and Dems call for illegal cyber attacks against Russia

Ironically, there is very little difference between partisan politics today, and what has taken place many times over the past several decades.  And perhaps the only real delimiters separating then and now is that today we have 24 news cycles, social media platforms, and a complete deterioration of journalism standards.

Nearly 50 years ago, Democrats in Congress and around the United States were shocked when then President Nixon visited China to try to 'break the ice' between the Far Eastern Communist regime and the the West's standard bearer for Capitalism.  And subsequently a decade and a half later, these same liberals were outraged when President Reagan met with the former leader of the Soviet Union Mikhail Gorbachev to discuss ways to find common ground between the two nations and potentially end the Cold War.

Fast forward to 2018...

With the failures of the Deep State and Military Industrial Complex in fulfilling their goals of creating chaos in the Middle East which began under the first President Bush back in 1991, and escalated under Bush II following the events of 9/11, there desperately grew a need to find a new 'enemy' to keep the nation at war, and the money flowing into their coffers.  And that new enemy once again turned into Russia.

Russia has become a serious thorn in the side of the intelligence agencies and the Deep State in their rebuking the U.S. State Department's program to overthrow the duly elected government of Ukraine, while also halting the West's attempt to overthrow Bashir Assad in Syria through their constructed terrorist group ISIS.  And as such, the full might of of the military, intelligence, and propaganda machines turned full bore towards Vladimir Putin and Russia, only to see their agenda blown apart with the election of Donald Trump as President.

Even before President Trump took office, the intelligence agencies have sought to discredit his administration and legacy by claiming that he only won the office due to Russia's interference in the 2016 election.  However not only do we now know that Obama administration officials in the DOJ, FBI, and CIA willfully attempted to frame Trump in a soft coup to ensure Hillary Clinton won the Oval Office, but even afterwards they have been pushing the lie that Russia and Putin control the President even now.

Which brings us to this week, and what appears to be the ultimate unhinging of the Democrats, the Deep State, and all those bought and paid for politicians who have everything to lose if Trump can achieve peace with their 'mortal enemy'.

Fired FBI Director James Comey says that anyone who votes for a Republican in November is un-American
Former FBI Director James Comey suggested over Twitter on Tuesday that anyone who votes Republican in the upcoming midterm elections is un-American. 
"Ambition must ... counteract ambition," wrote Comey, adding "All who believe in this country’s values must vote for Democrats this fall. Policy differences don’t matter right now. History has its eyes on us."  
In other words, any Republican who doesn't vote Democrat in November doesn't believe in American values.  
Comey's comments come on the heels of what some interpreted as a call for a coup against President Trump after the Helsinki summit with Vladimir Putin, when he tweeted"This was the day an American president stood on foreign soil next to a murderous lying thug and refused to back his own country," adding "Patriots need to stand up and reject the behavior of this president."  - Zerohedge
Democrats call for a new operation to cyber-hack Russian banks
Rep. Steve Cohen, (D-TN) - the guy who wanted to give disgraced FBI agent Peter Strzok the Purple Heart - told The Hill's Buck Sexton and Krystal Ball that Russian interference was clearly an act of war, and that the U.S. should have hit back with attacks on Russian targets.  
It was a foreign interference with our basic Democratic values. The underpinnings of Democratic society is elections, and free elections, and they invaded our country. A cyber attack that made Russian society valueless. They could have gone into Russian banks, Russian government. Our cyber abilities are such that we could have attacked them with a cyber attack that would have crippled Russia. -The Hill
In the end it appears that radio talk show host Michael Savage's analysis on liberals and Democrats has finally come to pass when he stated that 'Liberalism is a mental disorder'.

Tuesday, July 17, 2018

Hong Kong preparing to integrate several banks onto a blockchain trade platform

While cryptocurrencies remain the primary spotlight right now for blockchain technology, the integration of global financial systems onto this platform is beginning to accelerate.  And in an announcement made by the Hong Kong Monetary Authority in July 17, seven primary lenders will soon be connected through a trade platform run on the Blockchain.

The Hong Kong Monetary Authority and seven local lenders will launch a trade finance platform using blockchain technology in September, reflecting efforts by the city to bolster fintech development and close the gap with regional rival Singapore. 
“This trade finance platform is the first large-scale multi-bank blockchain project in Hong Kong arising from the fruitful results of one of the HKMA’s proof-of-concept works on trade finance in 2017,” said Howard Lee, deputy chief executive of the HKMA. 
Lenders taking part in the project include HSBC and Standard Chartered Bank, Bank of East Asia, Australia and New Zealand Banking Group Limited, Hang Seng Bank, and DBS Bank, according to a statement. – South China Morning Post
Blockchain technology allows users access to all documents and processes in a single location, and in real time.  And although the ledger itself is decentralized on servers around the globe, it appears set to become the future standard for financial and monetary transactions, as well as in global trade done through the use of Smart Contracts.

Could IBM be experimenting with the eventual replacement of the dollar through a new crypto pegged to the U.S. currency?

On July 17, IBM announced they will be teaming up with a Blockchain tech company named Stronghold to create a new cryptocurrency that would be pegged to the U.S. dollar.

According to IBM, the purpose behind their cryptocurrency experiment is to find ways to provide the banking system better and more efficient methods to be able to conduct payments, transfers, and transactions, while also solidifying the security that blockchain based processing provides for the monetary system.

IBM has teamed up with financial technology start-up Stronghold to launch a cryptocurrency that’s pegged to the U.S. dollar
The tech giant has put its weight behind a so-called “stablecoin,” a digital token that, in principle, is tied to an existing government-backed currency, in order to reduce the volatility associated with virtual currencies. 
In this case, the cryptocurrency, called “Stronghold USD,” is backed by Federal Deposit Insurance Corporation-insured U.S. dollars, IBM said Tuesday, with reserves being held by blockchain-focused asset manager Prime Trust. 
IBM said it will experiment with the virtual greenback to explore ways of helping banks and other financial institutions process payments faster and more securely. The aim of stablecoins is to reduce the volatility that is commonplace in the cryptocurrency market. - CNBC
IBM has been involved in helping to build the framework for a cashless society for many years now, and even their website boasts of a day in the near future when this will become reality.
With the growing availability of smartphones and 4G networks, there are even newer opportunities to enrich the customer experience and further enhance the convenience and security of mobile banking. As a result of increasing demand for computing power, advanced applications, and the cost effective, flexible delivery of infrastructure as a service (IaaS) and platform as a service (PaaS), cloud computing will be critical in the next evolution of mobile banking. 
In addition, cloud-based mobile application development facilitated by PaaS (such as IBM Bluemix) can enable rapid integration of advanced solutions to customer delivery. As mobile applications continue to increase in sophistication, the cloud will be at the center of what Gartner terms “the Nexus of Forces.” 
It’ll be a while yet, but maybe that cashless society won’t be a myth for much longer and song lines like “Money, get back. I’m alright Jack keep your hands off my stack” from Pink Floyd will eventually draw puzzled looks and an online search from the listener. -
With both the central and investment banks working on their own cryptocurrencies (such as Fedcoin) to first aid in the transfer of money at the financial and sovereign levels, once this becomes successful, the eventual next step will be to replace physical cash entirely with a digital blueprint, and one has to wonder if IBM's foray into cryptocurrencies is the proving ground for such a move.