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The Story Behind Asia’s Crypto Squeeze

It seems not everyone is a fan of cryptocurrencies. South Korean police and tax officials raided several crypto trading operations in the country last week, looking for tax evaders, money launderers, and generally bad actors. The government previously informed the crypto community that it thought its activity was little more than gambling and that it could potentially ruin citizens’ financial lives. Officials threatened to shut down cryptocurrency operations around the country, and they now seem to be following through. This is particularly bad news for Bitcoin and its ilk because Asia, and particularly South Korea, has been one of the […]

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Chinese Physical Gold Demand Surges; Americans Pile Into Stock & Crypto Bubbles

Chinese demand for physical gold investment surged in the first three-quarters of 2017 while Americans ditched the shiny yellow metal for increased bets in the crypto mania and stock market bubble market. Even though China’s Hang Seng Stock Market outperformed the Dow Jones Index last year, Chinese citizens purchased the most gold bar and coin products Q1-Q3 2017 since the same period in 2013, when they took advantage of huge gold market price selloff. According to the World Gold Council, Chinese gold bar and coin demand increased to 233 metric tons (mt) in the first three-quarters of 2017 compared to […]

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The Fatal Mistake Crypto Investors are Making Now

I find it amusing that the stock market is attributing so much value to the “blockchain” technology.  In reality, blockchain technology is just a piece of software that increases the degree of security for digital transactions.  I fail to see how this will revolutionize our lives the way the roll-out of the internet or the implementation of mass production or the invention of the internal combustion engine or the harnessing of electricity  changed and affected our daily lives.  I believe the technology has been egregiously over-hyped by promoters who make unrealistic claims about the potential for blockchain software. But for […]

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What’s a Crypto Worth?

I’ll be straight with you. When it comes to Bitcoin, I got nothing. For months, I’ve watched Bitcoin explode higher. And philosophically, there’s a lot I like about cryptocurrencies. I like the idea of a viable currency that exists outside of government control and outside of the banking system. I like the fact that there is no central bank like the Federal Reserve to debase the currency, inflating away its value over time. And I like that Bitcoin and other cryptos – at least in theory – are anonymous. But, back in 1998, I also liked the internet. That didn’t […]

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Will The New Bitcoin CME Futures Contract Benefit Gold?

The Chicago Mercantile Exchange (CME) announced a plan to launch Bitcoin futures by the end of the year. The price of Bitcoin surged to a new record in response to the announcement.  It was reminiscent of the dot.com era, when a dot.com stock would jump 10% if Maria Bartiromo merely whispered the name of the company on CNBC. Ironically, the cheers for this new contract from the Bitcoin faithful could turn out to be analogous to chickens in the barnyard cheering at the appearance of Colonel Sanders. GATA released an article about the new Bitcoin futures contract titled “So Long […]

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