Sep 102017
 

Please allow me to remind you … (self.Bitcoin)

submitted 10 hours ago by brahim789

Guys, please allow to me remind you that any innovative idea is almost always welcomed with skepticism/hostility by those who have much to lose from its success.

Take the example of cars. In the past, when the first cars were created, the railway and stagecoach industry used all their weight to put pressure on the authorities to prohibit them. You know, using the same well-known sneaky technique of the capitalist: the manipulation of opinion. They tried to convince people that the car was too dangerous for people and frightened the horses. They managed to pass a law in 1865 in England that restricted their use only to a crew composed of : a driver, an engineer and a human horn (a man with a flag that warns people of the arrival of the car .. knowing that the car was limited to a speed of 4 miles per hour.)

And there are many other examples you probably know. So we should be glad to see the authorities try to slow down the bitcoin because this shows that this technology is following the same pattern as all the innovative technologies that improve the daily lives of peoples and here to stay for a long time. So, i want to say thank you to China. Please go further in your bitcoin prohibition.

Mike Prettyman Chief Information Officer, Green Fire Engineered Reclamation, Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Sep 062017
 

By  on September 6, 2017

China Begins Resetting The World's Reserve Currency System

China Begins Resetting The World’s Reserve Currency System

$GLD, $OIL, $CNY

It is a strategic move swapping Crude Oil for Gold, rather than for US Treasuries, which can be printed at will.

A report released by the Nikkei Asian Review indicates that China is prepared to release a RMB Yuan denominated Crude Oil futures contract that is convertible, aka backed by physical Gold.

The contract will enable China’s largest Crude Oil suppliers to settle Crude Oil sales in RMB Yuan, rather than in USDs, and then convert the RMB Yuan into Gold on exchanges in Hong Kong and Shanghai.

This is a significant step in removing the global reserve currency status of USD, and resetting the global economic and geopolitical “landscape.”

Over the past several years, China has quietly established RMB Yuan-based currency exchange facilities, which has set up the ability to implement this new non-USD trade settlement financial instrument.

According to the Brookings Institute, 34 Central Banks around the world have signed bi-lateral local currency swap agreements with the PBOC (Peoples Bank of China) as of the end of September 2016, including the major Crude Oil-producing countries.

With this new contract, China’s largest Crude Oil suppliers will now be able to transact directly with China, and other Crude Oil importing countries, using RMB Yuan which are directly convertible into Gold to settle the trade.

This is a mechanism which is likely to appeal to Crude Oil producers that prefer to avoid using USDs, and are not ready to accept that being paid in RMB Yuan for Crude Oil sales to China is a good idea yet.

Since Y 1973, OPEC Crude Oil has been quoted and traded using USDs, otherwise known as “Petrodollars.”

The “recycling” of petrodollars into US Treasuries has been the life-blood of the US economic and political system. In addition to reducing a major source of funding for the US Government’s enormous deficit spending, the introduction of a Gold-backed RMB Yuan Crude Oil futures contract is an important step toward removing the USD as the world’s reserve currency.

More significantly it re-introduces Gold into the global monetary system.

As the new Gold-backed “Petroyuan” will allow Crude Oil producers to sell Crude Oil for Gold rather than US Treasuries.

Furthermore, it reduces the ability of the US Government to impose its will on the rest of the world. And is a strategic step toward not only ridding the world of its dependence on USDs.

And it also reduced the ability of the US to exert global economic and financially tyranny.

I would also argue that it is 1 of the primary reasons behind the inability of the Western Central Banks to drive the price of Gold lower recently. And they have tried, and tried, and tried.

By Dave Kranzler

 

By Paul Ebeling

 

 

Mike Prettyman Chief Information Officer, Green Fire Engineered Reclamation, Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Aug 232017
 

A Tsunami Hits the Recycling World, and We’ll All Feel it Soon

 August 22nd, 2017

David Baggs David Baggs

Whether you felt it or not, the earth shaking actions that unfolded recently will ultimately have an impact on every one of us.

Late last month, China notified the World Trade Organization that by the end of 2017 it will ban imports of 24 types of rubbish as part of a campaign against "foreign garbage" and environmental pollution.

Anyone who cares for the planet or is a ratepayer or who relies on kerbside recycling or a reliable supply of commonly recycled plastics for manufacturing will likely sooner or later be affected by the additional costs and environmental burdens that this recent decision by China will create in the short to medium term while the developed world waste processing and manufacturing industries change gears and re-establishes recyclate reprocessing for use in their products. The decision creates massive  policy and physical challenges for all levels of government and industry.

The official announcement to the WTO foreshadowed that China will forbid the import of four classes and 24 kinds of solid wastes, including plastics waste from living sources, vanadium slag, unsorted waste paper and waste textile materials.

The major China HS categories being banned include the following types of materials:

  1. Scrap or waste plastic
  2. Waste of wool or of fine or coarse animal hair, including yarn waste but excluding garnetted stock (garnetted textiles are typically waste materials that have been reduces to a fibrous state for reuse in textile manufacturing)
  3. Garnetted stock of wool or of fine or coarse animal hair
  4. Cotton waste (including yarn waste and garnetted stock)
  5. Waste (including noils (short fibres), yarn waste and garnetted stock) of man-made fibres
  6. Used or new rags, scrap twine, cordage, rope and cables and worn out articles of twine, cordage, rope or cables, of textile materials
  7. Slag, dross (other than granulated slag), scalings and other waste from the manufacture of iron or steel
  8. Ash and residues (other than from the manufacture of iron or steel), containing arsenic, metals or their compounds
  9. ‘Other’, including unsorted waste and scrap.

The five types of waste plastics that China is banning have China HS individual codes as shown as below:

  1. 3915100000 – Ethylene polymer scrap and waste
  2. 3915200000 – Styrene polymer scrap and waste
  3. 3915300000 – Vinyl chloride polymer scrap and waste
  4. 3915901000 – Polyethylene terephthalate
  5. 3915909000 – Other related waste plastics.

While it seems the move has not drawn any public comment from Australian trade groups, it has drawn quick criticism from a major US recycling industry trade group, the Institute of Scrap Recycling Industries (ISRI), which said it would be “devastating” to the global recycling industry and cost thousands of US jobs.

The Washington-based group said the move could cause severe economic harm in the United States, given that one-third of the scrap recycled in the United States is exported, with China being the largest market. That includes 1.42 million tons (3.1 billion pounds) of scrap plastics, worth an estimated $495 million, out of $5.6 billion in scrap commodities exported from the United States to China last year.

Puzzlingly, this move must also have a major impact on Chinese manufacturers and their local and international supply chains, but for previously waste exporting countries, it likely comes both with major challenges and with the proverbial silver lining opportunity.

The Chinese government cites toxicity and environmental pollution as the major reasons for the ban; it no longer wants China to the ‘garbage bin of the world.’ Government and industry in developed nations like Australia now have the major challenges of dealing with the retention of this waste, and the probably once-in-a-lifetime opportunity to use this as the incentive to facilitate a massive expansion of circular economy awareness and application. We need to see incentives to fast-track the establishment of on-shore waste-reprocessing and re-use industrial ecosystems and facilities.

The big questions this raises are ‘what impact will this have on prices?’ and ‘do we have governments and industry with big enough imaginations to move this into the circular economy space in the short time frame that will be needed?’

To the former question, I suspect the answer will be time dependent. In the short term, I imagine an increase in the price of recycled plastic in China from domestic sources, and in the developed world likewise, alongside a glut of unrecycled plastic heading to landfill.

There is now an even more urgent need to eliminate or at the very least dramatically reduce our reliance on single use packaging, and containers and develop new models for product and beverage delivery that focus on re-useable and circular economy solutions. Given this issue hasn’t really hit the mainstream media in Australia, how are we even going to engage the public to commence the behavioural change and expectation management that is going to be necessary for this change to happen?

It is going to be a major challenge for us all.

Mike Prettyman Chief Information Officer, Green Fire Engineered Reclamation, Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 262017
 

The Dollar's Slow Demise Continues in Plain Sight

Byron King

BY 
POSTED 
JULY 26, 2017

The Dollar’s Slow Demise Continues in Plain Sight

“The end of the world’s present monetary system is already taking place,” says one of Mexico’s leading, hard-money economists, Hugo Salinas Price. “The U.S. is losing influence in the world… The end of the dollar as the basis of the international monetary system means the end of the U.S. as we have known it.”

You may or may not know of Salinas Price, but he’s a serious player at high monetary levels.

He’s not nearly as famous as most television talking-heads on mainstream U.S. media. However, he’s been following monetary issues for many decades. He’s a Mexican business magnate and founder of the Mexican retail chain, Elektra. He also happens to be a historian of money.

According to Salinas Price, “The present monetary system of the world, based on the dollar, is on its death-bed. A fiat currency — such as the dollar — cannot be replaced by another fiat currency,” he explains. “Therefore, the world will necessarily have to take up (precious metals) as the world’s money.”

Salinas Price does not foresee the U.S., or other leading Western nations, taking the lead in resolving their own currency issues. Instead, he thinks, “it is likely that the Eurasian Bloc will initiate the monetary transformation of the world, in due course.”

Specifically, he foresees China and Russia creating a gold- and/or silver-backed currency to conduct trade. Salinas Price himself has long urged Mexico to adopt a silver-based currency, to retain value inside that nation’s economy, using the peso.

Globally, there’s an obvious flight to hard currency. Whatever may happen with the day-to-day price of “paper gold,” all of the physical metal, from every mine, mill and refinery in the world, has a buyer for every ounce.

A Different Kind of Russian Collusion

Just follow the data for proof…

China, Russia and India are all accumulating massive amounts of gold. Other large amounts of gold are moving into the Middle East, and other Asian nations. For example, below is a recent graph, showing Russia’s steady accumulation of gold over the past decade.

Russian Central Bank Gold Reserves

This kind of gold buildup in Russia is no accident. Russia has a clear, national policy to accumulate gold within its state treasury. That’s because Russian policy makers are concerned about U.S./Western actions, including economic sanctions, NATO expansion, near-constant and long-term bellicose rhetoric and more.

Russian policymakers are pushing back, as you likely know from following the news. Russia is confronting the U.S./West not just directly — by building submarines and missiles, and deploying troops into Syria, for example — but also via asymmetric means.

One U.S./Western weakness, in the eyes of Russian policymakers, is the dollar — the currency used for international trade. Russian strategists detect a long-term decline of value and global significance for the U.S. buck. It’s a wide-open target for asymmetric push-back.

According to a recent report in Russia’s Sputnik News, “In the years to come, global financial markets will see a significant devaluation of the American currency… Russia and China continue to stockpile gold in a bid to cut their economies’ dependency on the U.S. dollar in the future.”

Radical Political and Economic Transformations Will Increase as the Dollar’s Global Role Decreases

In summary, Sputnik states that, “if the dollar’s role as a global reserve currency is decreased, the world will see radical political and economic transformation.”

Right now, nearly 60% of global trade is denominated in dollars. By stockpiling gold, Russia and China want to gain monetary independence, while reducing their respective reliance on the dollar.

That approach, outlined in Sputnik, parallels what other high-level Russians have stated about their national monetary strategy.

Sergey Glazyev, a well-placed Russian politician and key Kremlin player, recently declared: “As soon as we (Russia) and China dump the dollar, it will be the end of the U.S. military might.”

In an interview with Russian News Agency TASS (successor to the old, Soviet-era TASS news service), Glazyev explained, “The United States has no tools to make all others use the dollar other than a truncheon. That is why they are indulging in a hybrid war with the entire world to shift their debt burden on to other countries, to confine everyone to the dollar and weaken territories they cannot control.”

Per Glazyev, the “only way to stop U.S. aggression is to get rid of dollar addiction.”

The Final Flailing of a Failing Empire

In the West — and certainly in the U.S. — there’s a tendency to dismiss this kind of pro-gold/anti-dollar thinking and commentary by Russians. In fact, it’s a stretch for most people to imagine any world in which the dollar is not king.

Yet, more and more global trade is moving away from dollar denominations. Russia conducts much of its trade with China in rubles-yuan, with a gold exchange in Shanghai to ensure proper valuation. Plus, you’ve likely heard of China’s efforts to conduct more and more trade across the world in yuan, all backed by the Shanghai Gold Exchange.

Indeed, Beijing is even working with Saudi Arabia to displace the petrodollar as the basis for pricing oil exports to China. China already imports oil from Russia, Iran and Angola, priced in yuan and those yuan are tradable for gold. Looking ahead, if China breaks the Saudi link to the petrodollar, there’s no telling what the repercussions could be in other sectors of international trade.

Gold and silver are making a monetary comeback.

We’re fast approaching a new monetary tipping point. The next global trading system is already setting up, in plain sight, as long as you follow the facts and note who is buying gold bars, and where that metal is heading.

What can the individual investor do?

Well, if you don’t hold physical precious metal, get some. And if you are not well-invested in precious metal mining shares, you need to get there.

Echoing Jim Rickards, I believe that you should have at least 10% of your portfolio devoted to precious metals and mining shares; more, if it helps you sleep better at night.

Regards,
Byron King
for The Daily Reckoning

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 052017
 

Central Bank of China

In Brief

China's central bank has developed its own cryptocurrency, which is now being tested. Cryptocurrencies have the potential to not only benefit China, but the rest of the world, due to their basis in blockchain.

Benefits of Digital Currency

China’s central bank — the People’s Bank of China — has developed a prototype of a cryptocurrency that it could end up in circulation in the near future. It would be introduced alongside the China’s primary currency the renminbi (also called the yuan). China will be simulating possible scenarios and running mock transactions using the cryptocurrency with some commercial Chinese banks.  Click to View Full Infographic The potential benefits of developing a digital currency are significant, particularly in China. First, it would decrease the cost of transactions, and therefore make financial services more accessible, which would be a big help to the millions of people in the country who are unconnected to conventional banks. Second, as it would be supported by blockchain, it has the potential to decrease the rates of fraud and counterfeiting, which would be of service to the government’s attempts to reduce corruption — a key concern. Third, it would make the currency easier to obtain, which would increase the rate of international transactions, allowing for more trades and faster economic growth.

The Rise of Cryptocurrencies

Since Bitcoin’s humble beginnings back in 2009 (when it was only valued at around 0.0007 USD) the digital currency, and the very idea of cryptocurrencies in fact, has grown monumentally. The total market cap of cryptocurrencies on April 1st of this year was over $25 Billion. A single Bitcoin is now worth more than $2,500. Now many national economies, as China’s plan shows, are considering the idea of developing their own variant. Although China’s experimental approach to simulate a self-developed cryptocurrency’s usage is the first of its kind, other countries and institutions have made strides in that direction as well. The Deputy of Russia’s central bank has emphatically stated that “regulators of all countries agree that it’s time to develop national cryptocurrencies.” Over 260,000 stores in Japan will begin accepting Bitcoin as legal tender this summer, and big banks like Santander have announced plans to develop their own version. Cryptocurrencies have the potential of revolutionizing not only the business world, but many methods of transaction. There has already been talk of using cryptocurrencies to administer Universal Basic Incomes due to their traceability, as well as for the delivery of human aid; the potential for which was demonstrated by a recent experiment to help refugees in Jordan by the UN.

  Source: China Becomes First Country in the World to Test a National Cryptocurrency

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com