Debt Rattle October 16 2017

 

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  • #36509

    Marc Riboud Street seen from inside antique dealer’s shop, Beijing 1965   • US Equities “At Most Offensive Level Of Overvaluation In History” (BI
    [See the full post at: Debt Rattle October 16 2017]

    #36510
    Nassim
    Participant

    4 years ago, Wikileaks revealed that in 2009 Russian agents prevented the assassination of Karamanlis who was then prime minister of Greece. The report was quite detailed as may be seen here:

    Plan “Pythia 1” for assassinating PM Karamanlis

    I did a search and could not find it mentioned on this site – although Greece does otherwise figure prominently.

    Last Monday, the main Russian TV news channel ran a sensational investigative piece about it on the main evening news – in Russian.

    The CIA Plan to Assassinate Greek PM Karamanlis For Ties to Russia

    Obviously, the Russians could have broadcast something along these lines quite a while ago. The fact that they chose to do so now is quite interesting in itself.

    The 2008 riots played a big role in the downfall of Karamanlis. Amnesty got involved and wrote a critical report. Here is what the Wikipedia has to say:

    “In a report on Tuesday, Amnesty International accused the Greek Police of brutality in handling the riots. The Greek department of Amnesty International cancelled the scheduled celebrations on 10 December for the 60th anniversary of the adoption of the Universal Declaration of Human Rights in response to the police violence in Greece”

    2008 Greek riots

    To the best of my knowledge, Amnesty is not doing anything about the actions of the Spanish Guardia Civil in Cataluña against peaceful people who wanted to vote. These people were not throwing Molotov cocktails and rocks at the police as was the case in Greece.

    The similarities with what the US tried to do in Turkey with Erdogan are striking. In the case of Turkey, they failed – probably because the Russians warned Erdogan and protected him. In the case of Greece, the Americans did manage to get Karamanlis replaced with Papandreou – an American stooge. They did it with organised and paid-for rioting. A sort of mini color revolution.

    I think we should all realise by now that we are being manipulated very successfully. It is also pretty obvious that the Russian have a good number of moles working for the various American intelligence agencies (ex-Soviet Jews?). I suspect humint is still more useful than electronic surveillance.

    Human intelligence (intelligence gathering)

    #36514
    Dr. Diablo
    Participant

    The Bitcoin article is interesting and true. It’s amazing the aggregate “mining” of BTC really adds up. As Bitcoin was the first, and Satoshi anticipated leaps and bounds in processing power — and presumably electric usage — this couldn’t be entirely avoided. Now that BTC has set the way, most other tokens focus on lower power consumption (and costs to their network) but that itself has tradeoffs.

    Here’s the real takeaway though: Financial Trust is so valued, so necessary, that the planet is actually willing to spend a month’s salary per transaction to avoind the fraud, theft, and corrupt front-running of the existing bank system. That’s a stunning indictment, and why they’re going to lose to cryptos: They’re stealing too much. Nor, as we’ve seen with their worldwide insolvency, can they simply steal less and come back to honesty and an even keel, an honest business model.

    Now a month’s electric may be a lot to you and I, but it’s nothing in the finacial world. The front-running HFT’s probably take that $100 or whatever in seconds. Bitcoin has also chosen to focus on large, secure transactions. So $100 tax to escrow a container ship is LESS than the banks are charging. That’s the amazing part. Because otherwise, what would be the driver for Bitcoin?

    #36518
    seychelles
    Participant

    Somehow I think China’s greatest long-term regret will be that they drank the
    Zioglobalist Kool-Aid. Mimicry of success is wonderful until it stops working.

    …integrity of the network can be preserved as long as benevolent nodes control..
    Isn’t this true of any monetary system? But monetary systems are controlled by humans…uhoh.

    Ai WeiWei’s mediocre political art has taken him far. Sometimes “feeling your pain” with good promotion can be quite lucrative…and the “collectors” buying it are have usually obtained the funds by means you don’t want to hear about on a full stomach, but the purchase allows them to “feel the pain”, i. e. dissipate their guilt, too. It’s a big psychological circle jerk.

    #36519
    anticlimactic
    Participant

    The Bitcoin article makes no sense whatever!

    When Bitcoin was created it was worth a fraction of a dollar and I have always assumed it was created for micro-payments. Also consider that over the years computing power per kilowatt has increased tremendously implying that when Bitcoins were worth a few cents it required thousands of kilowatt hours per transaction!!!!

    However, new Bitcoins can be created by ‘mining’ which DOES require huge amounts of computing power. As more Bitcoins are mined the computing power needed to create more increases. Also there is a fixed limit on how many Bitcoins can exist. When this limit is reached no more Bitcoins can be mined, ever.

    Given the antipathy to Bitcoin you are never sure if articles like this or just misunderstanding or propaganda.

    #36523

    So, Diablo, anticlimactic, bitcoin for micro-paymnets looks out. What else do they have to offer?

    #36524
    Doc Robinson
    Participant

    Re: “I don’t normally post 3-week-old articles…”

    No worries, you already posted it on September 28.

    Debt Rattle September 28 2017


    Why that forced low volatility is so dangerous. No price discovery.
    • China’s Mortgage Debt Bubble Raises Spectre Of 2007 US Crisis (SCMP)
    Young Chinese like Eli Mai, a sales manager in Guangzhou, and Wendy Wang, an executive in Shenzhen, are borrowing as much money as possible to buy boomtown flats even though they cannot afford the repayments…

    #36526
    Diogenes Shrugged
    Participant

    Think of a Bitcoin the same way you’d think of a ten-thousand dollar bill. Imagine buying ten-thousand dollar bills for a little less than $5,632 (the current price of one Bitcoin). Ten-thousand dollar bills aren’t much good for buying packs of gum, either.

    That’s why the dollar price of Bitcoin is stated to eight decimal places. One one-hundred-billionth of a Bitcoin is called a Satoshi. A Satoshi is currently worth $5,632 divided by one-hundred-billion, or 0.0056 cents. You’d need an awful lot of Satoshis to buy a pack of gum.

    Bitcoin is PERFECT for small purchases. When the dollar price of Bitcoin gets too high, the world will start using Satoshis for pricing goods rather than Bitcoin. Note that for one Satoshi to be worth a penny, the price of single Bitcoin would have to be one million dollars.

    I suggest you buy one BTC now before the curve goes vertical. Less than one percent of the world population currently owns any cryptocurrency at all. That is going to change.

    It’s my understanding that the problem of energy usage for mining is being addressed, but I’m not qualified to explain how. Importantly, “mining” verifies and records valid transactions on the Blockchain, and denies invalid transactions. Miners are occasionally rewarded for their expenditures on hardware and electricity with Bitcoin in exchange for providing that verification.

    The secondary virtue of Bitcoin, as I understand it, is the minuscule fee charged for transactions. A couple of orders of magnitude less than the few percent charged for credit card transactions. Bitcoin may not eventually put banks and governments out of business entirely, but they’re likely to become seriously humbled.

    The primary virtue of Bitcoin, as I understand it, is the ability to carry your wealth with you wherever you go. No confiscation at borders.

    https://www.zerohedge.com/news/2017-09-19/cryptocurrency-concentration-just-4-own-over-95-bitcoin

    So, 95% of Bitcoin are owned by 4% of the buyers. This is my concern, and explains why I’ve dragged my feet buying Bitcoin. The volatility in the price is due to relatively few Bitcoin being in circulation — 95% parked in digital wallets, waiting to see how high the price goes — so the VELOCITY as a money supply is quite low. I’m worried that I’ll buy now, and then a member of the 4% will cash out a million Bitcoin tomorrow, doubling current liquidity overnight. And bringing a huge (though temporary) crash to the price.

    I’m waiting for another Mt.Gox – level shake-up. A successful hack of an exchange somewhere, for instance. But waiting could very well turn out to be the dumbest investment move I’ve ever made. Best of luck if you decide to buy. And best of luck if you don’t.

    #36527
    Diogenes Shrugged
    Participant

    Sorry, in the second paragraph I meant one-hundred-millionth, not one-hundred-billionth. One-hundred-million Satoshis in one Bitcoin.

    #36530
    V. Arnold
    Participant

    Diogenes Shrugged
    Is Bitcoin a store of value? No.
    Is the U.S. dollar a store of value? Not really, but it has the power of the U.S. military behind it; not a comforting thought for this one.
    If there is no internet access; Bitcoin owners are screwed.
    Lose your account information; you’re screwed.
    But holders of genuine store of value (gold and silver) are fine.
    Understand what a store of value is; then tell me Bitcoin isn’t a Ponzi scheme.
    Russia is going to develope a block chain for crypto rubbles; which are backed by gold.
    Doing that will make sanctions a nothing burger and there can be no blocking international trade by the U.S., or anybody else.
    I’m somewhat fascinated by the crypto-currency phenomenon; but not drinking the koolaide.

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