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The greatest wealth transfer of this century! An analysis: British-US-Chinese Empires: Gold, Silver, Bitcoin, Ethereum!
"Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!" Let's embark on a journey that made the United States the number 1 economy of the world.
1. Despite the British Empire's claim that it would for ever remain the leading empire,history can serve as a harbinger for what's to come...
At the peak of its power, in 1913, "the empire on which the sun never sets", controlled 25% of the planet's land mass and about the same percentage of the world's population. Britain was both the naval an imperial power of the 19th century, and between 1812-1914, its dominance resulted in relative peace in Europe and the rest of the world. The industrial revolution transformed Britain into the workshop of the world. By the start of the 20th century things changed as both Germany and the United States started to challenge Britain's economic and influential leadership. As often happened during human history such challenging lead to war and although Britain achieved its largest territorial influence after WW1, the war had destroyed much of its economic strength, with losses in industrial and military power marking the begin of its demise. During WW2, Japan occupied Britain's colonies, and after WW2, India, Britain's most valuable and populous possession, achieved independence. Much of the British Empire's influence is now enshrined in the Commonwealth Charter, stating shared values like democracy, human rights and the rule of law. The United Kingdom's pound sterling was its world's reserve currency during its reign and by controlling the supply of money, Britain was able to influence its global power. "Permit me to issue and control the money of a nation, and I care not who makes its laws!"Mayer Amschel Rothschild
2. The US Empire repeats this blueprint by claiming the U.S. Dollar's reserve currency status as its birthright!
The Federal Reserve Act. The Panic of 1907 triggered many American's belief that The Federal Reserve Act, passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913, was necessary for financial and economic stability. The law created the Federal Reserve System, the central banking system of the United States. The Bretton Woods System. The FED ended immobile reserve issues and the inelastic currency problems and successfully internationalized the U.S Dollar as the global reserve currency. The usage of the prior nationally used U.S. Dollar expanded a first time when the Allies agreed to the terms of the Bretton Woods System, establishing the rules for commercial as well as financial regulations among the United States and its allies. Canada, Western Europe, Australia and Japan accepted the U.S. Dollar, which was backed by a gold exchange standard, making the U.S. Dollar "as good as gold". This was only possible because the United States controlled two thirds of the world's gold reserves. Soviet representatives, who claimed that institutions like the IMF and the International Bank for Reconstruction and Development (IBRD) were Wall Street branches, didn't participate in Bretton Woods and later proved to be right, as the United States printed too much money (not backed by its gold reserves) to wage war on Vietnam, destroying a big part of the value of the U.S. Dollars held by its allies, due to the inflation of the U.S. Dollar money supply. Yet, the initial demand for U.S. dollars created the American way of life: a consumer driven economy fueled by products made outside the U.S. in return for U.S. Dollars. As the Allied countries couldn't really buy any "Made in America"-products, due to the fact that the United States' elites rather outsourced their manufacturing, they instead invested their hard labor into U.S. Treasuries. On August 1971, President Richard Nixon announced the unilateral cancellation of the direct international convertibility of the United States dollar to gold, in a response to halt the Allied countries' continuous attempts to exchange their U.S. Dollars for Gold. By 1973, the Bretton Woods system was replaced by the current freely floating fiat currency system. The petro dollar system. The second wave of U.S. Dollar adoption was the result of the petro dollar, making the global trade of oil U.S. Dollar denominated. Every country on this planet needed and still needs oil to operate and grow its economy, creating an enormous growth in U.S. Dollar demand and like mentioned before, those dollars had to be earned. Especially China served the United States consumer model by producing almost everything Americans can buy in Wall Mart and other stores. By relying on the U.S. Dollar reserve currency status, the American elites have made the mistake of outsourcing manufacturing to China, as often predicted by Donald Trump in the 1980's. The y figured it was easier to just print wealth. The tradewar. President Donald Trump, decided it was time to bring jobs back to the U.S. and started an ongoing trade war with China, the country that supplied the U.S. consumer driven economy, and proud owner of $1.07 trillion in Treasury holdings. The trade war has negatively impacted the economies of both the United States and China and will most likely result in the decoupling of both economies. What is to come? My personal insights. I see huge problems for the U.S. and the rest of the western liberal democracies. But especially the United States, who's currency amounts to no less than 60% of all the world's reserve assets, is vulnerable if and when China who only accounts for 1 or 2 %, says it is time for change. Most likely we will experience another banking crisis, with or without Covid-19, and unfortunately a bigger one when compared to the 2008 dissaster. Did you know that the global debt tripled since then? Many economists and politicians advocate the end of the U.S. Dollar reserve currency system and predict a reset. Every financial system has a limited lifespan similar to a human live: it is created, it grows, it matures, and unfortunately, it ages, weakens and dies. It happened to the Brittish Pound Sterling, and I am afraid that the days of this financial hegemony are numbered as well. And I did write "afraid", why? History tells us that these transition periods are particularly dangerous and have often led to full-blown military conflicts if not world wars. The current wealth transfer, the result of manufacturing outsourcing to mainland China, impoverished the United States and destroyed its middle class. President Donald Trump's analysis that the U.S. needs a strong manufacturing base is correct, yet without its allies the United States will not be able to turn the tide. It took China decades to build its manufacturing base, and President Trump doesn't have the privilege of having the political luxury to design five year plans, as the United States capitalistic and political model specializes more on presidential campaigning and less on economic planning, which is exactly China's strength.
3. The Chinese 'digital' empire.
China is ideally positioned to become the new global power: it produces many of our products and dominates most supply chains. It has been hoarding gold and mines most of the Bitcoin. It might just have the right reserve assets to back its DCEP, the digital Yuan, which will be pilot tested during the 2022 Winter Olympics hosted by China. Despite the fact that the United States and other western nations might not want to adopt the Yuan or allow it to be part of the world's reserve assets, China can demand payment in Yuan for its products. It's that simple! This is why outsourcing is such as stupid economic voluntarily yet fatal policy. If you only print money and don't produce goods, how long will the world play ball? One of the results of Trump's trade war is that China and other countries such as Russia and Iran no longer want to be vulnerable to U.S. sanctions that come in the shape of being denied access to the financial system through Swift. The United States can indeed destroy a big part of Iran's economy, but Iran is now becoming a big cryptocurrency player. In other words, bullying those countries might work in the short-term, but in the long-term they will simply adopt a new standard: and I believe that the Yuan will likely play a major role in the financial system they will adopt. This trend means that the expansion of the demand in U.S. Dollars will stop and reverse, when countries no longer want to use the currency whose issuer can economically destroy them through sanctions. The alternatives for such countires are cryptocurrencies like Bitcoin, Ethereum and many others, national CBDC's (Central Bank Digital Currencies), and the adoption of the digital Yuan. This digital Yuan will be attached to the One Belt, One road initiative, finding adoption whilst developing huge infrastructure projects that will lead to a Eurasian trading zone. If the U.S. Military leaves the Middle East, as Trump brings home troops, this will create the right conditions for China to emerge as the victor.
4. Surveillance Capitalism - Insights on the DCEP (Digital Currency Electronic Payment, DC/EP):
This centralized digital financial system works on blockchain and cryptographic principles and aims to increase the circulation of the RMB, in the hope it can become a reserve currency like the U.S. Dollar.
Created and sanctioned by the Chinese Government, it is the only legal digital currency in China.
The system offers Chinese regulators better monitoring abilities and will be an efficient tool against anonymous counterfeiting, money laundering and illegal financing. At the same time it reduces costs involved in maintaining and recycling bank notes and coins.
As mentioned above, China aims to bypass Swift, which it regards to be a U.S. entity, and will be able to collect real-time data related to money creation, bookkeeping, essential information for the implementation of monetary policies.
The pilot institutions for DCEP, China Construction Bank, Agricultural Bank of China, Bank of China and Industrial and Commercial Bank of China, will serve as a production test for China's new currency system, after which the DCEP will be distributed to large fintech companies such as Tencent and Alibaba to be used in WeChat Pay and AliPay. Transfers will not go through bank accounts, but through electronic wallets.
By mandating that all merchants who accept digital payments must accept DCEP, the DECP will become the most accepted digital currency in the world.
5. Sings of hope.
If the United States adopts blockchain and issues a CBDC (Central Bank Digital Currency) backed by Bitcoin, they will have a reasonable chance to offer the western democracies a new type of dollar standard that can be an anchor versus the coming RMB. If not, I fear the worst is yet to come for the U.S. Dollar and its economy. Many smart American economists and Wall Street goeroe's have finally figured out the remarkable strength of Bitcoin, the world's first and most favorite digital form of gold. Some of the smartest investment capitalists like Ray Dalio and Warren Buffet have allocated more money into gold, a clear sign of trouble. Bitcoin might be a step too far for Warren Buffet, but rest assure that Wall Street investment management companies have figured it out by now, have you? You can expect more institutions to allocate a % of their portfolio's wealth into Bitcoin and other cryptocurrencies, as a hedge against the systemic risk in our global financial system, which will inevitable start feeling the effects of the trillions that have been printed. "Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!"
The rise of cryptocurrency is making a huge influence towards different businesses, companies or even simple individuals that supports the use of it in exchange of service, products, investments, etc. Number of users increases seemingly. However, beginners often get confused with the jargons, known only in the said network. In this article, I will be sharing basic terms that exists in cryptocurrency world: Cryptocurrency - is an internet-based, digital/virtual form of currency that is secured by cryptography (which makes it almost impossible to counterfeit) and operates independently from central bank. These include Bitcoin, Bitcoin Cash, Etherium, Ripple, Litecoin, etc. Cryptography - process of securing communication and data in various electronic transactions (such as account name, account number, amount, digital signature, etc.) by converting plain texts to unintelligible texts and vice versa. It is also be utilized for user authentication. Blockchain - refers to a growing list of record or the digital information (blocks) stored in public database (chain). Wallet - or software wallet, is where you “store” your cryptocurrency. It is basically a digital program/system/site/app that store public and/or private keys used to track ownership and transactions of your cryptocurrency. Example: Coinbase, Trust Wallet, Exodus Crypto Wallet, Coins.ph, Binance Wallet, etc. Wallet Address - is a destination associated with the software wallet where a user sends and receives cryptocurrency. Usually include a long series of letters and numbers. Example: qz8wlltmrj83mj2waw6rgaw9wtzqywuc5s3xqm67g7 Fiat Money - a currency that has actual value maintained; established as money; and backed up by the government. Example: US Dollar, British Pound, Philippine Peso, Japanese Yen, Euro, etc. Altcoin - or "alts"; refers to any cryptocurrency other than Bitcoin. ATH (All-time High) - it's when a cryptocurrency breaks its previous record price. FOMO (Fear of Missing Out) - refers to the strong urge or need to purchase a cryptocurrency when the price starts increasing rapidly. Mining - process of validation of transactions such as computers trying to solve blocks in a blockchain. Thus rewarding new cryptocurrency to successful user (miner). However, mining scams are rampant nowadays. Miners are always reminded not to provide private keys, deposits, etc to avoid these frauds. FUD (Fear, Uncertainty and Doubt) - this is the greatest risk for investors; A state of mind that often influence when and how crypto-enthusiasts make trades, purchase or hold onto their coins thus affects greatly in the actual prices/convertion rate of cryptocurrency. DeFi - short term for "decentralized finance" which includes digital assets, protocols, smart contracts, and dApps; is a financial software built on the blockchain that can be pieced together like Money Legos. Etherium is the primary choice for DeFi Application. Stablecoin - refers to a class of cryptocurrency that attempts to stabilize coin prices, backed by reserve assets. Reserve Assets - financial assets denominated in foreign currencies, held by central banks; must be readily available for monetization and/or must be an external physical asset. Example: US Dollars, Gold. That's all for now, I hope this information might help especially beginners who still lack knowledge regarding these terms. Continue supporting #Cryptocurrency
Kraken Crypto Exchange Integrates Swiss Franc (CHF) to Trade Against BTC And ETH
Kraken crypto exchange has expanded its BTC and ETH fiat trading pair options after adding the Swiss Franc (CHF) to the existing portfolio. The exchange partnered with Frick, a bank based in Liechtenstein, to launch the CHF within its platform. The U.S headquartered digital exchange is among the earliest entrants in the market having been launched back in 2011. So far, a number of cryptocurrencies ranging from Bitcoin to tokens like XRP can be traded on the exchange against fiat currencies. Prior to the CHF integration, acceptable fiat denominations within Kraken’s network included; Japanese Yen (JPY), British Pound Sterling, Euro, Canadian dollar and the U.S dollar. A blog post by Kraken on 5th December highlighted that the CHF trading would commence a day after the announcement. Initially, the CHF will be tradeable against Ether (ETH) and Bitcoin (BTC) but plans to add more options for the Swiss currency are under consideration. Just recently, Kraken made a partnership move that would enable real-time deposits and withdrawals at zero fees for its U.S clientele. The firm joined Silvergate Exchange Network, a product of Silvergate Bank, which now facilitates the U.S dollar deposits and withdrawals against Kraken’s crypto options. Besides this milestone, Kraken had earlier released its mobile application to enhance the user experience for Futures trading. https://bitcoinexchangeguide.com/kraken-crypto-exchange-integrates-swiss-franc-chf-to-trade-against-btc-and-eth/
All We Know About Cryptbontix (DIG) + Other Tokens
“If you want to go to the future, you have to go to the past. The future of money is gold.”
Arbitradehas acquired Cryptobontix, and although they both have different but complementary business models, they have formed a symbiotic relationship benefiting both parties to bring you this multidimensional asset class. Cryptobontix is the company responsible for creating a family of tokens backed by precious metals such as Gold, Silver, Platinum and Palladium. Currently, you will not be able to find a lot of information on their website, because:
“The website is awaiting legal approval from our council and council of our newly developed partners before we can release details of our operations and partnerships.”~Cryptobontix
The Cryptobontix Inc. development team has created four cryptocurrencies based on the Etherium smart contract technology (ERC20 Token), which are backed by valuable hard-backed assets. These include:
Dignity (DIG) – backed by ingot of gold bullion
Namaste (NAM) – backed by ingot of silver bullion
Orectic (ORE) – backed by ingot of palladium bullion
Honor (HNR) – backed by ingot of platinum bullion
Key Features Of The Asset-Backed Tokens:
Robust security & privacy protection, making it difficult for hackers, corporations and governments to unfairly seize assets.
Faster & cheaper transactions than traditional electronic systems.
Elimination of boundaries and fees associated with international transaction, some bank charges are as high as 10-15% – Baffles the mind to think what big industries and companies must spend on these fees!
How this changes the digital asset landscape and the future
To give you a better understanding of how powerful this family of tokens really is for the future economy, let’s take a closer look at another traditional store of value, money. Money has four functions; It is a:
Store of value
Medium of exchange
Unit of account
Standard of deferred payment
One of the many problems with our traditional monetarysystem is the declining value of our fiat currencies, they are dropping immensely due to the impact of inflation on the economy over time. For instance, the Great British Pound has lost 90\% of its value since 1973 and the price of a pint of milk has increased by 767\% in 40 years. What is commendable and unique about the Cryptobontix Inc. cryptocurrency tokens is that they provide a dependable means of exchange beyond the direct control of national banks, such as the U.S. Federal Reserve, European Central Bank, Bank of Canada, Monetary Authority of Singapore, etc. This is particularly attractive for those concerned about future long-term inflation as a result of:
Loose monetary policy such as quantitative easing(often central banks’ “printing money” by purchasing government bonds).
Near zero interbank lending rates.
Banks going into liquidation such as the recent crash of Deutschebank or India’s war on cash.In 2016 Indias Finance Minister says “honest people” have no need worry. They removed the two large denominations of the rupee (500 and 1000 rupee) from use, stating it will no longer be legal tender. Citizens were given only four hours notice of this change, thus removing 86\% of cash in circulation by value. And in a country where 95\% of all transactions happen in cash and this is where more than 40\% of the population of the country has no bank account. The immediate effect was expected to be a loss of 2-4\% of the GDP of the country, and the ripple effect has been devastating.
By combining bullion, the oldest store of value, with the newest, cryptocurrencies, we believe Arbitrade & Cryptobontix have created both a new hybrid asset class and investment vehicle that has the potential to become a global leader in this sector. We are witnessing the start of a new era in bullion backed digital assets. Trust-less is the key & decentralisation is the strength
“Arbitrade is acquiring $8.7 Billion worth of the four bullions (gold, silver, platinum, and palladium) that will back the company’s four major tokens.” - Arbitrade Management 25/05/18
History: UNY To DIG Swap
The history of events leading up to the rebranding of T.J.L. Holdings to Cryptobontix Inc. has been outlined below:
T.J.L. Holdings launched unity Ingot (UNY) on May 8th 2017. Tokens value proceeded on a gradual decline.
T.J.L Holdings, then rebranded to Cryptobontix Inc.
A 1:1 token swap from Unity Ingot (UNY) into Dignity (DIG) was initiated by Cryptobontix Inc. and took place from the 8th February through to 20th February 2018 on the Livecoin exchange.
During the take-over, a small number of members from T.J.L Holdings remained with the development team in the capacity of consultants until the transfer was completed and the company is successfully operating as Cryptobontix Inc.
Cryptobontix Inc. has a renewed vision of the original idea behind the Unity Ingot project and is now leading a family of tokens into its next stages of expansion.
Backing the Dignity token to Gold will give the token a floor value that matches the true value of the gold. It should be noted that assets usually trade at multiples of theirintrinsic value. Key facts about the Dignity (DIG) token:
The first token of it’s kind to be backed by both:
Mining hardware – 10,000+ high performace mining rigs
Gold bullion -$3 Billion in Gold Bullion ($1 worth of Gold Bullion for every token issued.)
Arbitrade Ltd. has made a definitive deal with Sion Trading FZE Dubai to acquire $10,000,000,000 in gold bullion. The bullion will be held at Brinks’ vault at the Dubai Gold Exchange. The company will have the bullion audited by a major accounting firm that operates in both Bermuda, Dubai and the United States before the end of September 2018 or as the accounting firm’s schedule permits. The audit is not an important factor and is only being done to satisfy U.S. Regulators. Source: Arbitrade news update
How To Get Hold Of Your Physical Assets
According to the existing white paper:
After two years, you will be able to swap your token 1 to 1 for a special utility coupon that grants you your amount of bullion.
These will be redeemable during specific periods each year.
In November of every year, 1/15th of the token float will become available for you to trade your tokens with, until the expiration date of the coupons.
You will then be able to redeem the physical bullion held against the token by using the coupon.
At any point throughout the year, you can place a bullion order at the Cryptobontix website and fill out and send an order form to the prescribed address.
The shipping department will then process the transaction when the November redemption window opens and will ship the physical bullion to the token holders.
Cryptobontix Inc. and Arbitrade have partnered with:
Coin Miner LLC – to provide mining hardware
Cryptotopic Inc. – to build and operate the mining facilities
Arbitrade Ltd. and Cryptotopic Industries have been working with Coin Miner LLC and the build team to create a 100,000 square foot industrial mining facility in Ontario, Canada. A facility that was previously used for metal manufacturing.
Has over five years experience in industrial sized mining infrastructure & development
Over the next 12 months, they aim to provide the facilitities with 65,000 mining units, ranging from high-performance ASIC and GPU mining units such as proprietary G Series mining units with Nvidia & AMD chips achieving 275MH at 1,200 watts each.
Hayden Gill, Arbitrade’s leading advisor & mining consultant, says:
“The D9 miners alone will be generating a minimum of 305 Decred (DCR) per day which is currently trading at $99.90 onCoinMarketCap.com***(June 2018)***
Arbitradeand Cryptobontix have also reported purchasing additional units from Bitmain, Canada Computers & Halong. The mining units will commence operations for:
Arbitrade’s decentralized exchange (DEX)
Cryptobontix’s bullion and cryptocurrency mining backed tokens
Once installed and operational, the facility will mine the most profitable cryptocurrencies such as Bitcoin, Etherium, Dash & Monero. The daily cryptocurrency mining profits are to be used to:
50\% – purchase physical bullion
20\% – buy additional high standard mining rigs
15\% – support buy back tokens and trade exchange marketplaces
15\% – operational cost and upkeep of mining facility
Arbitrade reported it has commenced a 15-year lease agreement with Cryptotopic Inc., an Ontario company that will work with Coin Miner LLC, on behalf of Arbitrade, to build Canada’s largest mining facility in a 100,000 square foot industrial warehouselocated in Watford, Ontario, Canada, which will house the 65,000 mining units. This lease agreement marks the first of four facilities Arbitrade plans to open over the next 36 months with Cryptotopic Inc. and Coin Miner LLC.
Coin Miner LLC
Hayden owns Coin Miner LLC and has been overseeing the mining developments in Watford and Atlanta. Watford has 5MW of current power that can facilitate 4,000 mining rigs to start. Arbitrade, along with Coin Miner LLC, has been successfully negotiating with Hydro One and its partners to bring in up to an additional 150MW of power so that the Watford facility will be among the largest cryptocurrency mining facilities in the world. Currently, the property boasts a massive size of 100,000 square feet, but there are an additional 16 acres available that can accommodate an enormous expansion up to 1,000,000 square feet of mining space. The company, on behalf of Hayden, has been in negotiations to develop the company’s own ASIC mining rigs and GPU miners. The Atlanta facility has already been toured by top stock and crypto analyst Ronnie Moas. Photographs and videos are available on his Instagram account. You can also check the Timeline. IfArbitradeexecute properly, this will make them one of the largest cryptocurrency mining operations globally.
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