ECB: Digital Euro will not replace fiat money, provides ...

11-29 16:43 - '11/30/19 Crypto News Report - The Fed & ECB on CBDC, Record Bakkt Volume, HSBC to Tokenize $20 Bln in Assets' (self.Bitcoin) by /u/bitwomble removed from /r/Bitcoin within 35-45min

'''
In today's Crypto News Report, TCG looks at the reactions from the US Federal Reserve and the ECB to Libra and China's forthcoming central bank digital currency, and well as efforts to pass permissive crypto regulation in Switzerland and Germany. Also, Saudi Arabia and the UAE will build an oil refinery and launch a virtual currency together. Meanwhile, HSBC has announced plans to securitize $20 bln in assets within four months, and Bakkt posted record daily volume for its BTC futures contracts.

[[link]2
'''
11/30/19 Crypto News Report - The Fed & ECB on CBDC, Record Bakkt Volume, HSBC to Tokenize $20 Bln in Assets
Go1dfish undelete link
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Author: bitwomble
1: you*u.*e*j4Mz0ftT*w* 2: *outu.*e/j*Mz0f*Tcw*]*^1
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

BitBeat: New ECB Report Is Largely Dismissive of Bitcoin

BitBeat: New ECB Report Is Largely Dismissive of Bitcoin submitted by AndreKoster to Bitcoin [link] [comments]

Cash: use it or lose it!

Is this the last decade of cash?

The corona pandemic is not helping. Belgian media is picking up the Australian news about the coronavirus found active 28 days on banknotes, without understanding that the 28 days is on the Australian polymer and paper banknotes, while Euro banknotes are made of cotton fibers on which the coronavirus gets inactive rather quick. https://medicalxpress.com/news/2020-04-euro-banknotes-safe-coronavirus-ecb.html
You are touching so much in shops, including the pay terminals everyone is touching, that cash won't add much risk.

Until this year, I used to not care, and pay everything electronically.

But in March I became the victim of an identity theft. My bank account was frozen, my bank cards and payment app blocked. Opening new bank accounts or credit cards was impossible due to being on a blacklist.

My employer could not pay my salary in cash. For most professions this is forbidden by law since 2016.

Friends lent me cash. But I discovered cash was refused at supermarkets, shops, public transport, parkings, fuel stations, hospital, physiotherapist, online webshops, Uber, Deliveroo, etc. Sometimes because of corona anxiety, but often already from before 2020.

Prepaid cards could be a nice solution. But even while they are debit cards, in Belgium they seem to be refused where credit cards are refused, since they are Visa or Mastercards cards. These are refused in many Belgium places, since merchants don't like the higher costs. Not many prepaid cards allow charging with cash. And their availability is in recent decline: this year at least the following prepaid cards stopped or are announced to stop: Carrefour prepaid Flex card, BNP and Hello. The decline might be due to new very strict EU anti-money laundering laws. The anonymous prepaid cards (and generic gift cards) are now restricted to 100 euro maximum recharge in their lifetime and 50 euro payments.

Cryptocurrencies are also in theory a nice solution. But their acceptance in Belgium is extremely limited. Thanks to Takeaway accepting bitcoin, I could order delivery from many local snack restaurants.
But I discovered that bitcoin and most other cryptocurrencies, while having an "anonymous" reputation, are actually only pseudonymous and extremely open and transparent: for every transaction the origin address, destination address, amount and timestamp are recorded for eternity in a public ledger for everyone open to consult. When I buy something, the merchant can see how many coins I have in my wallet address. Buying, spending or selling coins are activities that can get your name connected to your addresses. Developers try to solve this privacy issue, but I'm afraid the war on anonymity (related to the war on cash) will crush that before cryptocurrency payments become popular.

So, my identity theft experience has awakened me: sharing your personal details in so many places caries a lot of danger. Think about it: while the law became more strict, there are still many (online) shops and restaurants taking knowledge of your credit card number, expiry date, CCV and your name. That's still enough information to do fraudulent payments in many places.

The cashless society is a surveillance society, with every payment traced. And it creates a lot of dependencies: electricity, internet, and permission by the banking and payment system. Once you are on a blacklist, even if you did nothing wrong, but somebody pretended to be you and did fraudulent payments, you are screwed for at least months.

So, now that I'm finally off the blacklist, I opened several bank accounts. That will not help for all issues, but still: having only 1 bank is really dangerous.

And from now on I pay everything possible with cash. Not just to keep my personal details safe, but also to keep the cash usage statistics high. Did you notice that the financial sector is regulary reporting the cash withdrawals decline? They report both the total amount withdrawn and the number of withdrawals.

I learned that the bank and payment processors are fighting a war on cash and they are actively lobbying the government for a reduction of the cash payment limit to 50 euro. Yes, an insane fifty euro! The banks are lazy about cash and want to impose negative rent without risking a bankrun. No cash is no bankrun. The payment processors just love the percentage they get from every payment.

Currently the acceptance of euro banknotes and coins for debts is compulsory by European law. But many merchants violated the law and we had at least one Belgian minister ignoring the enforcement. See e.g. this article from 2019: https://www.bruzz.be/samenleving/no-cash-doet-intrede-brusselse-horeca-2019-05-10.
The law has exceptions, e.g. for security reasons such as a pandemic. After the pandemic I will try to report all cash refusing merchants.
Merchants that refuse to accept cash payments can be reported at https://meldpunt.belgie.be or https://pointdecontact.belgique.be/. But I guess it is better to wait until after the pandemic.

We need to defend the right to use cash. And a crucial action to avoid the end of cash is to keep using it as much as possible.

Every time you pay with a bank card or app, you contribute to a cashless future where:
Use cash or lose it!
submitted by piabxl to belgium [link] [comments]

Bitcoin Likely to Grow, Poses Benefits and Risks: ECB Report - American Banker Article

Bitcoin Likely to Grow, Poses Benefits and Risks: ECB Report - American Banker Article submitted by Julian702 to Bitcoin [link] [comments]

ECB Report: Virtual Currency Schemes (pdf, bitcoin, second life)

submitted by EquanimousMind to evolutionReddit [link] [comments]

End of day summary - 09/08

The Dow fell 632.42, or 2.25%, to 27,500.89, the Nasdaq lost 465.944, or 4.11%, to 10,847.69, and the S&P 500 declined 95.12, or 2.78%, to 3,331.84.
The major averages were sharply lower in Tuesday's trading, picking up where they left off before the long holiday weekend. Tech once again was leading the charge lower, with the Nasdaq the laggard among the major averages.
Today's selling was largely a continuation of last week, but unlike Friday, buyers appeared unwilling to buy the dip. Tesla's 21% decline was a drag on the Nasdaq, while Apple's 7% decline pressured the large-cap indices and the S&P 500 information technology sector (-4.6%). The energy (-3.7%) and financials (-2.6%) sectors followed suit amid weaker oil prices ($36.76/bbl, -2.94, -7.4%) and lower Treasury yields, while the utilities sector (-0.6%) declined the least.
Besides concerns that the market's pullback had more room to go, investors had to contend with Democratic leadership rebuffing the Senate's $300 billion coronavirus relief bill, President Trump suggesting disincentives for U.S. companies to outsource jobs to China, and reports that China's largest semiconductor foundry could be added to a trade blacklist.
Production problems at a BA 787 Dreamliner factory have prompted air-safety regulators to review quality-control lapses potentially stretching back almost a decade, The Wall Street Journal reported over the weekend. This morning, Boeing said in a statement to media outlets that inspections stemming from production problems of its 787 Dreamliners are slowing deliveries.
AAPL announced an event, to be held from Apple Park on September 15, without offering details on the nature or contents of the meeting. Bloomberg is reporting the event will be focused on the iPad, not the company's new iPhone models.
The prospect of potential retaliation on U.S. semiconductor companies was an additional drag on the Philadelphia Semiconductor Index (-4.7%). Separately, Boeing (BA 161.08, -9.97, -5.8%) provided a disappointing update, saying 787 Dreamliner production problems have slowed the pace of deliveries.
Among the noteworthy gainers was NKLA, which surged +40.8% after GM, +7.9% formed a strategic partnership that was well-received by investors. WDIS, +1.7% was upgraded to Buy from Hold at Deutsche Bank.
Among the notable losers was CRBP, which fell 74% after its RESOLVE-1 Phase 3 study did not meet its primary endpoint. Also lower was ACMR, which declined 26% after Needham analyst N. Quinn Bolton downgraded the stock to Hold from Buy, saying that the company's business outlook could weaken due to its "material exposure" to Chinese chip giant SMIC. The downgrade follows reports that the Pentagon proposed for SMIC to be added to U.S. government trade blacklist.
U.S. Treasuries saw increased buying interest amid the decline in equities but closed off highs. The 2-yr yield declined two basis points to 0.14%, and the 10-yr yield declined four basis points to 0.68%. The U.S. Dollar Index rose 0.8% to 93.46. Oil prices were pressured by Saudi Aramco lowering its prices for buyers in Asia and the U.S. due to sluggish demand.
Elsewhere, Stoxx 600 provisionally closed over 1% lower, with the tech sector falling another 2% as almost all sectors and major bourses fell into negative territory. Stocks in Asia-Pacific were higher on Tuesday, as Japan released revised gross domestic product figures for the second quarter.

Currency

The U.S. Dollar Index climbed 0.8% to 93.46, recording its sixth consecutive advance.
In emerging markets, Turkey’s lira hit another record low and Russia’s rouble sagged to its lowest since April amid ongoing talk about fresh Western sanctions.

Treasury

Treasuries overtook their opening levels as the stock market opened for the day, but the buying pressure faded shortly thereafter, allowing Treasuries to inch back to their starting levels as the day went on. Today's $50 bln 3-yr note auction was met with lukewarm demand but Treasuries of most tenors remained near their midday levels into the close.

Commodity

WTI crude futures settled sharply lower by 7.4%, or $2.94, to $36.76/bbl. Prices were pressured by Saudi Arabia reducing October prices for buyers in Asia and the U.S. Gold futures settled $8.90 higher (+0.5%) to $1,943.20/oz, recouping earlier declines, as pressure from equities pushed investors into the yellow metal.
Gold’s gains came despite a stronger dollar, which rose 0.7% against rivals. Investors are now awaiting an ECB policy meeting due on Thursday, while the U.S. Federal Reserve’s next meeting is scheduled for next week.

Crypto

Bitcoin is again proving itself to be a bit too correlated with financial markets for comfort, continuing to slide right alongside stocks.

YTD

  • FAAMG + some penny stocks +20.9% YTD
  • Spoos +3.1% YTD
  • Old man -3.6% YTD
  • Russy -9.7% YTD

COVID-19 news

In COVID-19 news, Florida reported 650,092 cases of the virus versus 648,269 the previous day, while California reported a 2,676 increase in cases from the prior day.
The CEOs of AZN, BNTX, GSK, JNJ, MRK, MRNA, NVAX, PFE and SNY announced a pledge, outlining a "united commitment to uphold the integrity of the scientific process as they work towards potential global regulatory filings and approvals of the first COVID-19 vaccines." The statement reads in part: "We, the undersigned biopharmaceutical companies, want to make clear our on-going commitment to developing and testing potential vaccines for COVID-19 in accordance with high ethical standards and sound scientific principles. The safety and efficacy of vaccines, including any potential vaccine for COVID-19, is reviewed and determined by expert regulatory agencies around the world, such as the United States Food and Drug Administration. FDA has established clear guidance for the development of COVID-19 vaccines and clear criteria for their potential authorization or approval in the US. FDA's guidance and criteria are based on the scientific and medical principles necessary to clearly demonstrate the safety and efficacy of potential COVID-19 vaccines. More specifically, the agency requires that scientific evidence for regulatory approval must come from large, high quality clinical trials that are randomized and observer-blinded, with an expectation of appropriately designed studies with significant numbers of participants across diverse populations...We believe this pledge will help ensure public confidence in the rigorous scientific and regulatory process by which COVID-19 vaccines are evaluated and may ultimately be approved. We believe this pledge will help ensure public confidence in the rigorous scientific and regulatory process by which COVID-19 vaccines are evaluated and may ultimately be approved." The companies also pledged to "only submit for approval or emergency use authorization after demonstrating safety and efficacy through a Phase 3 clinical study that is designed and conducted to meet requirements of expert regulatory authorities such as FDA."

AH news

  • Slack Technologies EPS beats by $0.03, beats on revenue. Reports paying customers of 130k +30%. Shares down by 15%.
  • Snowflake prices $75-85 IPO with Salesforce, Berkshire Hathaway set to buy
  • Lululemon slips after earnings beat, execs cautiously optimistic on back half
Summary scraped from the interweb. Took 13.52 seconds.
submitted by hibernating_brain to thewallstreet [link] [comments]

09-05 02:34 - 'Bitcoin Plunged Violently Losing 7% And Liquidated $100M Longs, Here Is Why' (self.Bitcoin) by /u/cryptoanalyticatech removed from /r/Bitcoin within 1405-1415min

'''
Bitcoin has been rising for most of this year. However, it experienced a sharp fall on September 3 losing up to 7% of its value to sink towards $10,500. The losses happened in less than two hours liquidating more than 100 million worth of longs in the process. Taking a look at BitMEX alone, the sudden crash wiped out almost $99 million worth of longs.
Three major factors might have likely caused a sudden drop in the price of the flagship crypto. The strength of the U.S. dollar, miner outflows, and major resistance are to blame for the sharp correction below $11K.
Miner Outflows
According to reports that emerged earlier today, large-scale mining pools are sending higher-than-normal amounts of Bitcoin to exchanges in recent days.
This data indicated that miners were now preparing to sell their holdings which added selling pressure to the crypto markets. The CEO of CryptoQuant, Ki Young-Ju, wrote:
“Miners send a certain amount of BTC to exchanges periodically, so they already have a large amount of BTC in the exchange. Whenever they decided to sell, it seems they move a relatively significant amount of BTCs to other wallets, and some of them are going to exchanges.”
Miners represent one of the two sources of external selling pressure in the bitcoin market other than exchanges. When miners start to sell their holdings, it could cause considerable pressure on bitcoin.
US Dollar Rally
In the past three days, the US dollar has rallied against all other reserve currencies. The dollar showed some strong momentum against the euro. Based on previous reports, the European Central Bank (ECB) warned that the euro has become quite expensive. The ECB’s warnings rattled the markets resulting in a euro sell-off as most investors feared the imposition of various restrictions.
As the US dollar started to rally from a multi-year support area, both gold and bitcoin declined steeply.
Bitcoin Was At Strong Resistance
The $12,000 to $12,500 range has acted as a strong area of resistance for bitcoin since 2018. Bitcoin’s price tested the $12,000 resistance level for the fourth time in a relatively short period. That might have led to a reaction from sellers which contributed to the pullback of bitcoin.\
But the price of bitcoin dropped to as low as $10,625 across major exchanges. A well-known pseudonymous trader, Salsa Tekila, said it is a strong support level at a higher time frame. Thus, a bounce is likely to happen in the near term.
'''
Bitcoin Plunged Violently Losing 7% And Liquidated $100M Longs, Here Is Why
Go1dfish undelete link
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Author: cryptoanalyticatech
submitted by removalbot to removalbot [link] [comments]

Banca internacional #03 UK LT BG MT DE – Intro EU y Fintech

Este contenido fue publicado originalmente el 06/08/2019 - Aca
Posts anteriores de la serie

Background e intro
La Union Europea y en cuestión el Area Economica Europea o single market es un colectivo de veintiocho estados, cuales en su mayoría abolieron todo tipo de controles migratorios internos. También llamado Area Schengen, aunque esta, no incluye los veintiocho miembros sino, veintiséis.

De la misma manera, el “single market” o Eurosystem, mercado común europeo y su moneda de facto el Euro, ISO 4217 : EUR no se usa en todos los miembros del área política. Sin embargo todos los miembros de la Union Europea y varias de las jurisdicciones que no usan el Euro como su moneda de intercambio oficial (Romania, Polonia, Suiza, Dependencias de la corona, etc.) son parte del área SEPA compuesta por 36 miembros.

SEPA, Single Euro Payment Area es un protocolo de créditos y débitos bancarios entre personas físicas o legales de rápida ejecución operando 100% bajo el estándar IBAN. Es moderno comparado con otros sistemas similares como el ACH o wires locales americanos, ciertamente anticuados y de un costo mucho mas alto de operar.

Por regulación del ECB (European Central Bank) los pagos SEPA ya sean créditos o débitos deben ser gratuitos y se considera ilegal cobrar por una transferencia SEPA.

Esto dicho, varias instituciones cobran un “fee” por la ejecución de transferencias SEPA bajo alguna descripción a modo de eufemismo.

Si bien SEPA es considerado relativamente moderno, SEPA ICT (Instant Credit Transfer) ya se encuentra desarrollado y en proceso de implementación. Bajo el nuevo standard, las transferencias SEPA son ejecutadas en tiempo real con el fin de incentivar la implementación y adopción de las tecnologías fintech desarrolladas por privados bajo el tutelaje del ECB.

Desde hace aproximadamente diez años, el ECB comenzó a liberalizar el mercado bancario a modo de desconcentrar el monopolio de la banca europea. De esta manera dieron comienzo a las entidades EMI (Electronic Money Institutions). Entidades quasi bancarias, las cuales pueden ofrecer IBANs personales de manera instantánea y emitir tarjetas de pago (en general no debito sino prepagas directamente ligadas a una cuenta personal).

Regulación

La flexibilización de la banca europea via fintech tiene sus rarezas, la mayoría de las nuevos “bank challengers” usaron frases del tipo “we are not a bank, we are better tan a bank” y similares. Muy cool a los ojos de un millenial rebelde sin embargo el wording es exacto. Una entidad EMI no es un banco, no está siquiera remotamente cerca de serlo. Estas entidades no operan con efectivo, ni en general ofrecen créditos, o inversiones o tasas de interés (mas allá de que la tasa de interés del ECB se encuentra en el área negativa hace años) porque la verdad es que una entidad EMI no está a autorizada a tomar depósitos en Euros.

Cuando decimos “Electronic Money Institution” en realidad debería leerse más como “token”, la gente que usa crypto entenderá de manera más fácil. Al momento del depósito, la entidad mueve nuestros Euros a una cuenta a su nombre en una entidad bancaria real en general en la jurisdicción en la cual está registrada y licenciada aunque esto no es necesario. Los depósitos, a diferencia de un banco, no se pueden ofrecer a modo de prestamos ni se pueden invertir y se deben mantener segregados. Como una especie de cuenta escrow. En el mismo momento, de manera instantánea intercambia 1 for 1 cada euro por un token dentro de su plataforma al que le podemos poner el símbolo y nombre de euro pero al mismo tiempo no lo es. Al momento de efectuar un pago fuera de la plataforma el ejecutor intercambia nuevamente nuestro token por 1 euro cash que se encuentra depositado en la cuenta escrow y lo envía via SEPA o SEPA card hacia un comercio o una persona física/juridica a modo de pago.

Esta pequeña diferencia hace que el statement “we are not a bank” tenga un significado mucho más verosímil en lo legal de lo aparentemente anunciado. Y por esta razón, suelen lidiar con clientes de mayor riesgo que un banco tradicional. A manera de un sandbox monetario.

El problema principal, más allá de la oferta de banca básica y el peligro de que la entidad desaparezca de la noche a la mañana sin dejar rastro. Los depósitos en las EMIs no están cubiertos por el seguiro de depósitos de ninguna jurisdicción ni por el ECB.

En un comienzo, hace unos años uno podía abrir una cuenta en algún país del báltico, recibir una tarjeta MasterCard en Euros y empezar a recibir pagos de manera instantánea luego de un onboarding básico de 5 minutos vía una App. Algunos proveedores inclusive ofrecen una dirección de Bitcoin a la cual, si uno envía BTC, es convertido automáticamente a depósitos en EUR a la cotización del momento del clearing de la transaccion. Suena too good to be true no?

Bueno MasterCard y Visa también pensaron eso. En el 2018 cancelaron todas las tarjetas de los EMIs en Europa y renegociaron las licencias de emisión. Muchos proveedores de servicios financieros nunca emitieron tarjetas nuevamente y se dedicaron solo a cuentas virtuales. Los proveedores que sobrevivieron y encontraron su nicho se vieron en una situación grow or die.

Pero como se puede crecer sin poder ofrecer más servicios bancarios, crypto estaba sufiendo un slump terrible… Ah si, licencias bancarias.

Y así llegamos al presente, donde “we are not a bank” es una falacia y si, ya somos un banco. Tenemos una licencia, aseguramos tus depósitos y podemos ofrecer más servicios bancarios. El passporting de servicios está en toda su gloria, a costo de muchos de nuestros beneficios. La consecuencia principal? Todos los usuarios de riesgo, eliminados. Non-residents? Fuera, Gambling? Fuera, Crypto trading? Fuera…

KYC más estricto(si se lo puede llamar asi), mayor escrutinio de transacciones, CRS, suspensiones de cuentas y otros detalles están a la orden del día.

En la situación actual, siguen existiendo EMIs que hacen menos preguntas al costo de algunos Euros por mes. Donde podemos enviar y recibir fondos de un crypto Exchange o de TransferWise (a contrariedad de BruBank*… EJEM…*) y operar pagos de manera normal. No es un arreglo definitivo pero es de bajo costo y puede servir de “buffer” entre negocios que pueden atraer cierto escrutinio a nuestras cuentas en banco tradicionales.

Obviamente esto es un arma de doble filo y afecta a todos los miembros de la cadena de la misma forma. En mi caso, tuve que hacer un “White listing” luego de un intercambio de emails con soporte, de cuentas en Lithuania en las Crypto Exchanges que uso porque no querían procesar mis depósitos y ponían todas mis transacciones on hold de manera indefinida. La explicación? “Too much fraud from those suppliers”.

Esto dicho, para las instituciones que no son crypto friendly, esto puede ser la salvación. Un depósito de otra cuenta a tu nombre es mejor que un depósito a nombre de Kraken Payward o Bitstamp Limited.

Las licencias bancarias son un gran desarrollo para el mundo fintech europeo, lamentablemente tiene un gran costo a nivel usuario. Hay muchos menos proveedores que ofrezcan servicio a no residentes.

Los riesgos de los EMIs son reales, muchos han desaparecido sin dejar rastro, otros como WorldCore se vieron enrollados en lavado de dinero Ruso y cancelación masiva de sus tarjetas por parte de Visa y MasterCard Europe a punto tal que se vieron obligados a cerrar. WorldCore sigue en venta hoy día. SataBank un banco digital basado en Malta de capitales Bulgaros entro en administración para nunca más reaparecer.

Otros tuvieron que reinventarse o separarse. PayMix se disolvió en dos compañías una para personas físicas y otra para personas legales. Ejemplos de este tipo existen por montones.

Instituciones de interés

Globitex – UK/Lithuania
https://globitex.com/euro-wallet
Licencia: Crypto UK/Wallet EMI Lithuania
Cuentas: Personal/Business
Tarjeta: No.
No residentes: Si.
Detalle: Globitex es un crypto broker el cual simplifica el intercambio de crypto por fiat via el uso de un servicio de wallet (EMI) el cual posee un IBAN personalal y unico a nombre del UBO de la cuenta.
El servicio tiene algunos costos sin embargo es una buena alternativa para ejecutar pagos via SEPA.
En este momento 14 dias de trading sin costo, imagino que las operaciones de la cuenta si tienen costo, sin embargo desde que empezaron a ofrecer el servicio, los cargos por operar se han reducido substancialmente.

MisterTango – Lithuania
https://www.mistertango.com/en/
Licencia: EMI
Cuentas: Personal/Business
Tarjeta: Temporalmente suspendidas.
No residentes: Si.
Detalle: Las cuentas funcionan, la mía personalmente desde hace más de 2 años. Existe integración a su propia exchange de crypto. Ofrecen servicios para traders de crypto y dirección de BTC con deposito a EUR instantáneo.
Hay que tener en cuenta que la oferta de servicios en el pasado era muy superior. Incluía dirección de BTC, transferencias SWIFT, transferencias SEPA, tarjeta MasterCard Euro, acceso al Exchange, top up de la cuenta via tarjetas de debito/crédito y opción de una API para facturar.
Hoy día está dividido en diferentes segmentos y el pricing varía según el paquete elegido, nacionalidad y residencia.

LeoPay – Bulgaria
https://leopay.eu/
Licencia: EMI
Cuentas: Personal/Business con preferencia a Estonian e-residents.
Tarjeta: Si, debito Visa, con condición de dos tarjetas por cuenta o una tarjeta por currency.
No residentes: Si.
Detalle: Originalmente llamado LeuPay registrado en Malta de capitales Bulgaros. Usaban de backend SataBank, así que si leyeron lo anterior entenderán el cambio de nombre de la entidad.
Cuentas multicurrency en EUR, USD, GBP, CHF, RON, HRK, JPY, BGN, PLN, CZK.

Paysera – Lituania
https://www.paysera.lt/v2/lt-LT/index
Licencia: EMI
Cuentas: Personal/Business. Es posible obtener más de una cuenta por cliente.
Tarjeta: Si, debito Visa.
No residentes: Si.

PayMix Pro – Malta
https://www.paymix.pro/
Licencia: Institución financiera Maltesa
Cuentas: Business
Tarjeta: Debito
No residentes: Si.

Prospero – Malta
https://www.yourprospero.com/
Licencia: Institución financiera Maltesa
Cuentas: Personal
Tarjeta: Debito
No residentes: Si.

Deutsche Handelsbank – Alemania
https://www.handelsbank.com/en/bc/home-business-customers.html
Licencia: Bancaria propia.
Cuentas: Business. Es posible obtener más de una cuenta por cliente.
Tarjeta: No.
No residentes: Si.
Detalle: Es un pequeño banco alemán que se especializan en cuentas únicamente para personas legales con licencia y backend bancario propio.

N26 – Alemania
Licencia: Bancaria propia.
Cuentas: Personal/Business
Tarjetas: Debito/Crédito
No residentes: No*.
Detalle: No aceptan no-residentes en el Area economía europea, sin embargo si aceptan pasaporte Argentino y cualquier numero de móvil. El requerimiento es una dirección de correo en el Área Económica para recibir la tarjeta. (Chripre no es una opción para la dirección).

Revolut – Lithuania/UK
https://www.revolut.com/
Licencia: Bancaria propia (UK)
Cuentas: Personal/Business.
Tarjeta: Si, variedad dependiendo del tier.
No residentes: No*
Detalle: Revolut evoluciono desde una licencia de EMI a una entidad con licencia bancaria. Siempre en las noticias por las razones equivocadas, han quedado atrás los días en los que la banca Lituana los decepcionaba. Lamentablemente los reportes de cuentas congeladas persisten y rehabilitarlas puede tardarse meses.
Revoluto ofrece tarjetas con conversión de divisas usando el mid-market rate y sin FX conversion fee. Ofrecen crypto trade (CFDs) y muy recientemente una plataforma de inversiones. Si han leído mi post titulado Banca internacional #02 – United Kingdom, where it all began y repararon en el detalle de que la licencia bancaria es de Reino Unido, si, están en lo correcto. Esta entidad no puede técnicamente aceptar no-residentes si tiene una licencia bancaria ringfenced. Sin embargo, tal como es el caso con varias de alternativas, una dirección de correo dentro de Reino Unido o Europa suele bastarle a los clientes para hacerse de una cuenta.
UPDATE: Recientemente Revolut agrego un setting muy interesante, la cual permite, una vez registrados como clientes cambiar la residencia fiscal. No hay muchos datos con respecto a qué efectos tiene sobre la cuenta más allá de una suspensión quasi instantánea. Sin embargo! Según la jurisdicción de residencia fiscal seleccionada, también nos puede dar como opción “Email us to [[email protected]](mailto:[email protected]) and let’s see what we can do.”

TransferWise
https://transferwise.com/
Licencia: Money transfer (UK), EMI (Lithiania)
Cuentas: Personal/Business y Borderless, 4 currencies GBP, EUR, NZD, AUD y condicionalmente USD.
Tarjeta: Si, MasterCard para residentes del Area Economica Europea.
No residentes: Si.
Detalle: Conocido por casi todos hoy día, la aplicación de cabecera para remittances elegida por todos los millenials. No es la mejor sin embargo es la que tiene mejor publicidad y estrategia.
Se sabe que hay clientes quienes han usado datos postales europeos para registrarse y han logrado recibir la tarjeta en condición de no residentes.

Disponibles fuera de sus países de registro en breve

Insha – Alemania con backing de Al Baraka (Turquía)
https://www.getinsha.com/
Detalle: Primer banca islámica digital en Europa. Que esto no los detenga en ver el servicio que ofrecen. Dado los servicios que ofrecen (y la carencia de interés computado en depósitos) es una plataforma idea para banca Islámica.

ToMoRRoW - Alemania
https://www.tomorrow.one/en-de/
Detalle: Banca alemana sustentable.

Kontist – Alemania
https://kontist.com/
Detalle: Banca digital para pequeños negocios o freelancers con implementación de contabilidad y taxación.

Tarjetas

Algunos EMIs solo ofrecen tarjetas. En general son productos sub-prime y consecuentemente los fees son usureros. No voy a entrar en detalle sobre el ofrecimiento de servicios de estos proveedores, pero les dejo algunos por una cuestión de mera curiosidad y cobertura de alternativas.


Nota final
Existen muchos servicios más de tipo pseudo bancario en Europa. Podría publicar un post infinito con 500 URLs y links a cada uno de ellos. Muchos con respaldo de Bancos centenarios y prácticamente todos con requerimiento de residencia en la Unión Europea. Si desean mas información, puedo hacer un post apartado. Pero más allá del landing page, no van a poder utilizar ningún servicio.
Es más fácil abrir una cuenta en un banco normal para no residentes en Europa de manera personal que intentar circunventar la legislación y regulación pertinente a los bancos o EMIs digitales reservados para Europeos.

Donations.
Token Wallet address BTC 19xvUdQoZosrzYKNaTCK834zRkg5Bogop BCH qqqmyqjspnq0fazk9wvv0elc8vxdp2rkvgfqs3s87x LTC LKNvBgwEtE3w7oEUYiSVb96qCe7xFDBvp8 ETH/DAI 0x1cbbcf2ca8849893ad7feac5ef5c735f6d91fa4e XMR 44AXEt8ZkmjgGuUrPaoNTzBGhp92L3HozSYxAip7dz8qL6A3neJBriLRSjC8Qnam4tEhfw2yXzcXsbZ2dJiWHDC7Ji8nBvx 
submitted by diyexageh to LATAM_PersonalFinance [link] [comments]

From Chaos, Comes Order

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts...
Let's start with the virus.

Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...

Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!

Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.

Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to Bitcoin [link] [comments]

From Chaos, Comes Order

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.
Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...
Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!
Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.
Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to conspiracy [link] [comments]

For Trading March 19th

For Trading March 19th
Another Halt!
Yields Rise
Oil Collapse
Today’s market was actually not as bad as it seemed. We finally got some dramatic action on the downside, and a rally back up into the range that I thought we were building yesterday. The obvious culprit was the Oil. In case you missed it, here is my midday video, #148 https://youtu.be/7eKv4Z2Qox0 . I’m going off script because I have several issues to discuss, and frankly, I’m not really sure we need to go over all the damage that seems to have been done. First of all, the big numbers: DJIA -1338.46 (6.3%) after being -2320, NASDAQ -344.94 (4.7%) after being -648, S&P 500 -131.09 (5.18%) after being -249, the Russell -115.50 (10.44%), and the DJ Transports -496.79 (6.65%) after being -987. Internals were NYSE 15:1 and NASDAQ 8.9:1. Volume increased, especially on NASDAQ. The rally came late in the day and while there was an ECB stimulus package and China lowering rates, it felt to me as if the we were just so “wrung out” that we were due a bounce.
Another issue that came to the surface was provided by Bill Ackman of Pershing Square fame, who called into CNBC and gave, without question, the worst-case scenario for the state of the world. His degree of panic was palpable and frankly a bit overboard. In all his doom and gloom, he also said he was buying selected stocks. He called for the total shutdown of the country for 30 days. I find that as I’ve always said, “everyone is never right” and EVERYONE is panicked. Buy the fear, sell the greed works for me too. Frankly, it scares me too, and that goes into the buy column. Here’s the Ackman call-in: https://www.cnbc.com/2020/03/18/bill-ackman-pleads-to-trump-to-increase-closures-to-save-the-economy-shut-it-down-now.html
My other issue is one that I’ve railed about for months. Buybacks. If you had any doubt of the BS basis for buybacks, the last week should solve it. Now that these companies have been buying stock and cutting their share count to inflate their earnings at the cost of (not the benefit of) shareholder. The fact that most companies have cut off their buying is the giveaway. The point of buybacks is to use your excess cash for the betterment of the firm. At what point on the downside should you be buying stock back? Any time that prices are depressed, and you can’t find a better use for the cash. This is EXACTLY THE OPPOSITE OF WHAT THE CORPORATIONS HAVE DONE. It shows their true intent, and it is disgraceful. That’s all I have to say about it, except that you can count on the massive class-action suits that will be brought.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights.
SECTORS: Other names in the news: While there is plenty to discuss, I’ll just hit a few high points. All U.S. automakers closing production. Marriott laying off workers and closing many hotels completely and in other floors. Airlines cutting capacity. DAL which 10 days ago said 15%, upped it to 40%, now cutting 70%. Shelter in place expected in many major U.S. cities. If you think it can’t get worse, wait a few minutes. But, as I said above, that’s a time to buy, not sell.
BIOPHARMA: was LOWER with most falling sharply, and only gainers REGN +3.31 and VRTX +8.36 (3.97%). IBB was $99.97 -1.33 (1.31%).
CANNABIS: stocks aren’t even worth reporting with losses from the best, GWPH only down 2.85 (3.42%) and the worst PYX -.65 (30.95%). MJ $9.10 -.85 (8.54%).
DEFENSE: was MOSTLY LOWER with LMT +20.17 (6.33%) and NOC +5.67 (1.78%) and TDY -58.88 (22.57%) the biggest loser. ITA was $124.90 -12.15 (8.87%).
RETAIL was MIXED with JWN +1.47 (7.85%), DDS +2.74 (7.39%), and WMT +5.44 (4.56%) and JCP -.08 (16.34%), and UAA -.97 (9.83%) the biggest loser. XRT was $27.75 -2.39 (7.93%).
FAANG and Big Cap: were MIXED with GOOGL -26.87, AMZN +22.16, AAPL -6.19, FB -2.46, NFLX -4.28, NVDA -14.45, TSLA -68.98 (16.03%), BABA -4.81, BA -22.25 (17.92%), DIS -4.73 and XLK $76.35 -1.15 (1.48%). This group was down much harder but rallied late and are higher in extended hours.
FINANCIALS were LOWER with insurance stocks the worst. TRV -14.41 (14.95%), AIG -2.80 (12.58%) the banks all down from 3 to 9%, and XLF $19.77 -1.20 (5.72%).
OIL, $20.83 -6.50 The stocks were LOWER with the price of Oil trying to hold $24.00 and fell quickly on the break there touching $20.06. XLE was $23.98 -4.02 (14.36%). The oil rallied in extended hours and is currently $23.23 +2.40.
METALS, GOLD: $1,477.47.90 After the liquidation of the past few day’s gold tried to work higher but gave it up when the oil cracked $24.00. I still expect a move back toward $1,600 to unfold.
BITCOIN: closed $5340 -40. We broke to the downside overnight and fell to a low of $4390, and for the first time in days did not make a new recent low. Today was another “inside day” which is generally indecisive. While I want to add the 350 sold just over a week ago, I want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $6.01 -.09 today.
Tomorrow is another day.
CAM
submitted by Dashover to options [link] [comments]

For Trading March 19th

For Trading March 19th
Another Halt!
Yields Rise
Oil Collapse
Today’s market was actually not as bad as it seemed. We finally got some dramatic action on the downside, and a rally back up into the range that I thought we were building yesterday. The obvious culprit was the Oil. In case you missed it, here is my midday video, #148 https://youtu.be/7eKv4Z2Qox0 . I’m going off script because I have several issues to discuss, and frankly, I’m not really sure we need to go over all the damage that seems to have been done. First of all, the big numbers: DJIA -1338.46 (6.3%) after being -2320, NASDAQ -344.94 (4.7%) after being -648, S&P 500 -131.09 (5.18%) after being -249, the Russell -115.50 (10.44%), and the DJ Transports -496.79 (6.65%) after being -987. Internals were NYSE 15:1 and NASDAQ 8.9:1. Volume increased, especially on NASDAQ. The rally came late in the day and while there was an ECB stimulus package and China lowering rates, it felt to me as if the we were just so “wrung out” that we were due a bounce.
Another issue that came to the surface was provided by Bill Ackman of Pershing Square fame, who called into CNBC and gave, without question, the worst-case scenario for the state of the world. His degree of panic was palpable and frankly a bit overboard. In all his doom and gloom, he also said he was buying selected stocks. He called for the total shutdown of the country for 30 days. I find that as I’ve always said, “everyone is never right” and EVERYONE is panicked. Buy the fear, sell the greed works for me too. Frankly, it scares me too, and that goes into the buy column. Here’s the Ackman call-in: https://www.cnbc.com/2020/03/18/bill-ackman-pleads-to-trump-to-increase-closures-to-save-the-economy-shut-it-down-now.html
My other issue is one that I’ve railed about for months. Buybacks. If you had any doubt of the BS basis for buybacks, the last week should solve it. Now that these companies have been buying stock and cutting their share count to inflate their earnings at the cost of (not the benefit of) shareholder. The fact that most companies have cut off their buying is the giveaway. The point of buybacks is to use your excess cash for the betterment of the firm. At what point on the downside should you be buying stock back? Any time that prices are depressed, and you can’t find a better use for the cash. This is EXACTLY THE OPPOSITE OF WHAT THE CORPORATIONS HAVE DONE. It shows their true intent, and it is disgraceful. That’s all I have to say about it, except that you can count on the massive class-action suits that will be brought.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights.
SECTORS: Other names in the news: While there is plenty to discuss, I’ll just hit a few high points. All U.S. automakers closing production. Marriott laying off workers and closing many hotels completely and in other floors. Airlines cutting capacity. DAL which 10 days ago said 15%, upped it to 40%, now cutting 70%. Shelter in place expected in many major U.S. cities. If you think it can’t get worse, wait a few minutes. But, as I said above, that’s a time to buy, not sell.
BIOPHARMA: was LOWER with most falling sharply, and only gainers REGN +3.31 and VRTX +8.36 (3.97%). IBB was $99.97 -1.33 (1.31%).
CANNABIS: stocks aren’t even worth reporting with losses from the best, GWPH only down 2.85 (3.42%) and the worst PYX -.65 (30.95%). MJ $9.10 -.85 (8.54%).
DEFENSE: was MOSTLY LOWER with LMT +20.17 (6.33%) and NOC +5.67 (1.78%) and TDY -58.88 (22.57%) the biggest loser. ITA was $124.90 -12.15 (8.87%).
RETAIL was MIXED with JWN +1.47 (7.85%), DDS +2.74 (7.39%), and WMT +5.44 (4.56%) and JCP -.08 (16.34%), and UAA -.97 (9.83%) the biggest loser. XRT was $27.75 -2.39 (7.93%).
FAANG and Big Cap: were MIXED with GOOGL -26.87, AMZN +22.16, AAPL -6.19, FB -2.46, NFLX -4.28, NVDA -14.45, TSLA -68.98 (16.03%), BABA -4.81, BA -22.25 (17.92%), DIS -4.73 and XLK $76.35 -1.15 (1.48%). This group was down much harder but rallied late and are higher in extended hours.
FINANCIALS were LOWER with insurance stocks the worst. TRV -14.41 (14.95%), AIG -2.80 (12.58%) the banks all down from 3 to 9%, and XLF $19.77 -1.20 (5.72%).
OIL, $20.83 -6.50 The stocks were LOWER with the price of Oil trying to hold $24.00 and fell quickly on the break there touching $20.06. XLE was $23.98 -4.02 (14.36%). The oil rallied in extended hours and is currently $23.23 +2.40.
METALS, GOLD: $1,477.47.90 After the liquidation of the past few day’s gold tried to work higher but gave it up when the oil cracked $24.00. I still expect a move back toward $1,600 to unfold.
BITCOIN: closed $5340 -40. We broke to the downside overnight and fell to a low of $4390, and for the first time in days did not make a new recent low. Today was another “inside day” which is generally indecisive. While I want to add the 350 sold just over a week ago, I want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $6.01 -.09 today.
Tomorrow is another day.
CAM
submitted by Dashover to swingtrading [link] [comments]

Central Bank Digital Currency

Christine Lagarde recently announced ECB (European Central Bank) Policy Makers are discussing plans to create their own Central Bank Digital Currency.
In her previous role at the IMF, Lagarde gave a speech - Winds of Change: The Case for New Digital Currency.
She gave this speech in November 2018.
For that paper she referenced, named Casting Light on Central Bank Digital Currencies - a particular section is very interesting indeed...
"This note contributes to a growing body of literature on CBDC. Others have already explored this topic, including international organisations such as the Bank for International Settlements and several central banks (Bank of Canada, People's Bank of China, Bank of England......."
Remember, this report is from November 2018 - so Central Banks and powerful entities such as the BIS, Bank of China and Bank of England have explored this topic in detail for longer than one initially assumes.
There are important points to discuss, as it could have huge implications for society in general:
  1. The first is the trend towards a cashless society. The infrastructure required for using cash costs countries a fair amount every year. Also, younger consumers prefer the convenience of mobile payments.
  2. What does this mean for privacy (particularly financial privacy)?
  3. What does this mean for the most vulnerable in society who are heavily reliant on cash, such as the homeless?
  4. As well as this, any trusted third party is a security hole - thus these centralised institutions are honeypots for skilled hackers
  5. There is of course Facebook's Libra and the recent news of China's plan to introduce the Digital Yuan
Outgoing Bank of England Governor Mark Carney has stated that digital currencies can be used to reduce the reliance on the US Dollar
So...
Demand is there, and Pandora's Box is now opened
IT SEEMS INEVITABLE THAT THIS IS THE DIRECTION IN WHICH WE ARE HEADING.
Here is my current take on the situation.
[DISCLAIMER: THIS IS NOT INVESTMENT ADVICE]
Things can change and you should conduct your own due diligence.
I think Central Bank Digital Currencies will happen and start the trend towards a cashless society.
This will also make it easier to collect taxes for Governments.
Unfortunately, I believe this probably will be a centralised network.
This means that funds can be frozen (which is bad for certain privacy conscious consumers), although it will mean that transactions will have reduced fees and that the 'middleman' aspect of the financial services industry will be hit (which is good for all consumers).
Therefore, Bitcoin will be (and already is my opinion) the decentralised hedge against bad monetary policy and centralised power structures.
Allowing for peer to peer transactions in a decentralised manner.
In terms of long term investment, I think that Bitcoin will hit $100K within 2-3 years, and $1MM within the next 15 years.
This will be a critical issue over the next decade that could have some very serious consequences for those who are not prepared for this transition.
As an investor, it is important to understand where the long term trend is heading.
Generally, this revolves around technological innovation that makes our lives more convenient and makes it more efficient to transfer value and thus drive progress and prosperity.
These developments are an indicator of that, but it is important to remember that those in positions of power and that control the flow of money are ruthless in their pursuit to maintain that power and maybe, just maybe, the guys at the NSA created a decentralised hedge against their incompetence...
https://www.youtube.com/watch?v=MBQyv7_8fdY

BRAVE BROWSER: https://brave.com/fin894
submitted by financeoptimum to Bitcoin [link] [comments]

From Chaos, Comes Order

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.
Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...

Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!

Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.

Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to investing_discussion [link] [comments]

Order From Chaos

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.
Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...
Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!
Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it has been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.
Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to InvestmentEducation [link] [comments]

Order From Chaos and CBDCs

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.
Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...
Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!
Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.
Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to ReserveProtocol [link] [comments]

Central Bank Digital Currency

Christine Lagarde recently announced ECB (European Central Bank) Policy Makers are discussing plans to create their own Central Bank Digital Currency.
In her previous role at the IMF, Lagarde gave a speech - Winds of Change: The Case for New Digital Currency.
She gave this speech in November 2018.
For that paper she referenced, named Casting Light on Central Bank Digital Currencies - a particular section is very interesting indeed...
"This note contributes to a growing body of literature on CBDC. Others have already explored this topic, including international organisations such as the Bank for International Settlements and several central banks (Bank of Canada, People's Bank of China, Bank of England......."
Remember, this report is from November 2018 - so Central Banks and powerful entities such as the BIS, Bank of China and Bank of England have explored this topic in detail for longer than one initially assumes.

There are important points to discuss, as it could have huge implications for society in general:
  1. The first is the trend towards a cashless society. The infrastructure required for using cash costs countries a fair amount every year. Also, younger consumers prefer the convenience of mobile payments.
  2. What does this mean for privacy (particularly financial privacy)?
  3. What does this mean for the most vulnerable in society who are heavily reliant on cash, such as the homeless?
  4. As well as this, any trusted third party is a security hole - thus these centralised institutions are honeypots for skilled hackers
  5. There is of course Facebook's Libra and the recent news of China's plan to introduce the Digital Yuan

Outgoing Bank of England Governor Mark Carney has stated that digital currencies can be used to reduce the reliance on the US Dollar
So...
Demand is there, and Pandora's Box is now opened
IT SEEMS INEVITABLE THAT THIS IS THE DIRECTION IN WHICH WE ARE HEADING.
Here is my current take on the situation.
[DISCLAIMER: THIS IS NOT INVESTMENT ADVICE]
Things can change and you should conduct your own due diligence.
I think Central Bank Digital Currencies will happen and start the trend towards a cashless society.
This will also make it easier to collect taxes for Governments.
Unfortunately, I believe this probably will be a centralised network.
This means that funds can be frozen (which is bad for certain privacy conscious consumers), although it will mean that transactions will have reduced fees and that the 'middleman' aspect of the financial services industry will be hit (which is good for all consumers).
Therefore, Bitcoin will be (and already is my opinion) the decentralised hedge against bad monetary policy and centralised power structures.
Allowing for peer to peer transactions in a decentralised manner.
In terms of long term investment, I think that Bitcoin will hit $100K within 2-3 years, and $1MM within the next 15 years.

This will be a critical issue over the next decade that could have some very serious consequences for those who are not prepared for this transition.
As an investor, it is important to understand where the long term trend is heading.
Generally, this revolves around technological innovation that makes our lives more convenient and makes it more efficient to transfer value and thus drive progress and prosperity.
These developments are an indicator of that, but it is important to remember that those in positions of power and that control the flow of money are ruthless in their pursuit to maintain that power and maybe, just maybe, the guys at the NSA created a decentralised hedge against their incompetence...
https://www.youtube.com/watch?v=MBQyv7_8fdY

BRAVE BROWSER: https://brave.com/fin894
submitted by financeoptimum to investing_discussion [link] [comments]

From Chaos, Comes Order

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.
Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...
Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!
Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.
Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to StockMarket [link] [comments]

For Trading March 19

For Trading March 19th
Another Halt!
Yields Rise
Oil Collapse
Today’s market was actually not as bad as it seemed. We finally got some dramatic action on the downside, and a rally back up into the range that I thought we were building yesterday. The obvious culprit was the Oil. In case you missed it, here is my midday video, #148 https://youtu.be/7eKv4Z2Qox0 . I’m going off script because I have several issues to discuss, and frankly, I’m not really sure we need to go over all the damage that seems to have been done. First of all, the big numbers: DJIA -1338.46 (6.3%) after being -2320, NASDAQ -344.94 (4.7%) after being -648, S&P 500 -131.09 (5.18%) after being -249, the Russell -115.50 (10.44%), and the DJ Transports -496.79 (6.65%) after being -987. Internals were NYSE 15:1 and NASDAQ 8.9:1. Volume increased, especially on NASDAQ. The rally came late in the day and while there was an ECB stimulus package and China lowering rates, it felt to me as if the we were just so “wrung out” that we were due a bounce.
Another issue that came to the surface was provided by Bill Ackman of Pershing Square fame, who called into CNBC and gave, without question, the worst-case scenario for the state of the world. His degree of panic was palpable and frankly a bit overboard. In all his doom and gloom, he also said he was buying selected stocks. He called for the total shutdown of the country for 30 days. I find that as I’ve always said, “everyone is never right” and EVERYONE is panicked. Buy the fear, sell the greed works for me too. Frankly, it scares me too, and that goes into the buy column. Here’s the Ackman call-in: https://www.cnbc.com/2020/03/18/bill-ackman-pleads-to-trump-to-increase-closures-to-save-the-economy-shut-it-down-now.html
My other issue is one that I’ve railed about for months. Buybacks. If you had any doubt of the BS basis for buybacks, the last week should solve it. Now that these companies have been buying stock and cutting their share count to inflate their earnings at the cost of (not the benefit of) shareholder. The fact that most companies have cut off their buying is the giveaway. The point of buybacks is to use your excess cash for the betterment of the firm. At what point on the downside should you be buying stock back? Any time that prices are depressed, and you can’t find a better use for the cash. This is EXACTLY THE OPPOSITE OF WHAT THE CORPORATIONS HAVE DONE. It shows their true intent, and it is disgraceful. That’s all I have to say about it, except that you can count on the massive class-action suits that will be brought.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights.
SECTORS: Other names in the news: While there is plenty to discuss, I’ll just hit a few high points. All U.S. automakers closing production. Marriott laying off workers and closing many hotels completely and in other floors. Airlines cutting capacity. DAL which 10 days ago said 15%, upped it to 40%, now cutting 70%. Shelter in place expected in many major U.S. cities. If you think it can’t get worse, wait a few minutes. But, as I said above, that’s a time to buy, not sell.
BIOPHARMA: was LOWER with most falling sharply, and only gainers REGN +3.31 and VRTX +8.36 (3.97%). IBB was $99.97 -1.33 (1.31%).
CANNABIS: stocks aren’t even worth reporting with losses from the best, GWPH only down 2.85 (3.42%) and the worst PYX -.65 (30.95%). MJ $9.10 -.85 (8.54%).
DEFENSE: was MOSTLY LOWER with LMT +20.17 (6.33%) and NOC +5.67 (1.78%) and TDY -58.88 (22.57%) the biggest loser. ITA was $124.90 -12.15 (8.87%).
RETAIL was MIXED with JWN +1.47 (7.85%), DDS +2.74 (7.39%), and WMT +5.44 (4.56%) and JCP -.08 (16.34%), and UAA -.97 (9.83%) the biggest loser. XRT was $27.75 -2.39 (7.93%).
FAANG and Big Cap: were MIXED with GOOGL -26.87, AMZN +22.16, AAPL -6.19, FB -2.46, NFLX -4.28, NVDA -14.45, TSLA -68.98 (16.03%), BABA -4.81, BA -22.25 (17.92%), DIS -4.73 and XLK $76.35 -1.15 (1.48%). This group was down much harder but rallied late and are higher in extended hours.
FINANCIALS were LOWER with insurance stocks the worst. TRV -14.41 (14.95%), AIG -2.80 (12.58%) the banks all down from 3 to 9%, and XLF $19.77 -1.20 (5.72%).
OIL, $20.83 -6.50 The stocks were LOWER with the price of Oil trying to hold $24.00 and fell quickly on the break there touching $20.06. XLE was $23.98 -4.02 (14.36%). The oil rallied in extended hours and is currently $23.23 +2.40.
METALS, GOLD: $1,477.47.90 After the liquidation of the past few day’s gold tried to work higher but gave it up when the oil cracked $24.00. I still expect a move back toward $1,600 to unfold.
BITCOIN: closed $5340 -40. We broke to the downside overnight and fell to a low of $4390, and for the first time in days did not make a new recent low. Today was another “inside day” which is generally indecisive. While I want to add the 350 sold just over a week ago, I want to wait and see some stabilization. We still own 400 GBTC with an average of $8.06. GBTC closed $6.01 -.09 today.
Tomorrow is another day.
CAM
submitted by Dashover to OptionsOnly [link] [comments]

ORDO AB CHAO

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.

Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...

Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!

Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and it's been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.

Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to Libertarian [link] [comments]

Order From Chaos

I feel it is important to discuss what is happening at the moment.
We're gonna break this down into 4 parts.
Let's start with the virus.

Part 1 - The Virus
Now, this virus.
First of all, I just want as a disclaimer to say that it's important to rely on official sources of information regarding the virus since they would never lie to you...
OK, so what's up? Well, here's what's up:
This virus is the trigger for the biggest power play we've seen since 2001.
This is a perfect excuse for an economic crash.
This defers responsibility from those who are actually responsible and blames it all on this virus.
It also accelerates the inevitable trend towards a cashless society, and the much desired Central Bank Digital Currency (CBDC).
We've had Christine Lagarde (former head of the IMF and current President of the ECB) and Mark Carney (former Governor for the Bank of England and current UN special envoy on climate action and climate finance) speak on digital currencies.
We've had reports from the Bank for International Settlements (BIS). The BIS is essentially the Central Bank for Central Banks.
Coincidence is a funny thing (just ask Larry Silverstein...):
In 2019, 1200 CEOs left their positions. That was a record year.
In the first month of 2020, 219 CEOs left. A new record.
On the topic of CEOs...

Part 2 - CEOs and Stock Buybacks
The financial metrics which incentivise executives have become far removed from operating performance.
As an example, here is a story from the end of 2014...
This summarises perfectly what has happened!
The main source of demand for equities has been corporations (i.e.stock buybacks).
And this makes sense, incentives drive human behaviour. Pretty simple.
Now, this is the really infuriating part.
These corporations now want bailouts.
By the way, this will happen.
And just like '08, profits are privatised and losses are socialised.
The Airlines, which feel they are entitled to bailouts, spent 96% of their free cash flow on stock buybacks over the past decade.
Now they want a bailout. Ridiculous!

Part 3 - Encryption and Privacy
While all of this is going on, the US Government has been sneakily trying to remove end-to-end encryption and has been working it's way through Congress.
This concerns the EARN IT Act.
The premise of the bill is that technology companies have to earn Section 230 protections rather than being granted immunity by default, as the Communications Decency Act has provided for over two decades.
If the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content. When internet companies become liable for what their users post, those companies aggressively moderate speech.

Part 4 - Practicality
Central Bank Digital Currencies are inevitable.
The NSA created the SHA-256 algorithm in 2001.
The NSA could of stopped Bitcoin early on if it truly wanted to (51% attack for example).
Why NOW allow a decentralised network of value transfer to develop, whereas previous attempts were snuffed out?
Well, going back to central banking: how about a centralised Central Bank Digital Currency (CBDC) that will allow a greater level of control, can facilitate negative interest rates, easier collection of taxes, etc.
For this to work, you need to usher it in gradually such that people have a decentralised alternative (i.e. BTC) and the mass public is more receptive to digital currencies more broadly. So BTC is the gold and CBDC is the ‘new fiat’.
The current situation is pretty chaotic.
But... ORDO AB CHAO
https://www.youtube.com/watch?v=jfx7PnMtCeY
submitted by financeoptimum to hedgefund [link] [comments]

Digital Currencies, Stablecoins, and the Challenges Ahead

SPEECH
December 18, 2019
Lael Brainard
Board of Governors of the Federal Reserve System on the Monetary Policy, Technology, and Globalisation Panel at “Monetary Policy: The Challenges Ahead,” an ECB Colloquium Held in Honour of Benoît Coeuré sponsored by the European Central Bank Frankfurt, Germany
\\
Source
submitted by wumzao to econmonitor [link] [comments]

ECB's Constancio on Bitcoin, Asset Values, Economy ECB's Constancio on Bitcoin, Asset Values, Economy Max Keiser $100K BTC  ECB Loves Stable Coins  Blockstream Liquid BITCOIN on SAVAGE MODE once ECONOMY Collapses in 2020!!! FED & ECB EXPOSED!!! European Central Bank ECB Considering Bitcoin Regulation

On December 17, the European Central Bank (ECB) published a report that showcased its blockchain technology proof-of-concept. One particular feature the central bank digital chain holds is the ... The European Central Bank (ECB) has published a report in which it envisages monitoring cryptocurrency markets by analysing blockchain data. Something very similar was decided a few days ago by the US SEC, making it clear that even the large traditional financial institutions are understanding the usefulness of public distributed ledgers on which anyone can freely conduct an analysis of ... September 22, 2020 / in Bitcoin / by Crypto Potato. In a recent report on stablecoins, the European Central Bank (ECB) questioned the accuracy of their name arguing that it may be misleading to users. The paper also highlighted that stablecoins could have a significant role in a digital economy if adequately regulated. The Name Stablecoins May Not Be A Proper Fit: ECB. Whether they are backed ... The report has been drafted by the ECB’s Crypto Assets Task Force. One of its objectives is to unify the terminology related to stablecoins, their characteristics, and the functions they perform. The institution states that it expects fiat money and euro deposits to be “resistant” to the expansion of stablecoins as payment methods. In addition, the institution disclosed the following on ... ECB Has The Tools To Regulate Stablecoins. Similarly to the US Commodity Futures Trading Commission, the ECB argued that stablecoins require a proper legislative framework. However, the report highlighted that the central bank has the necessary tools to establish concrete regulations.

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ECB's Constancio on Bitcoin, Asset Values, Economy

YouTube. This is a Video for YouTube. This is the Link of YouTube: https://youtube.com Here you can find Trending Youtube Videos: https://www.youtube.com/fee... Visit LEDN to check out getting a bitcoin-backed loan! https://platform.ledn.io/join/0a00cca3dd61dea5909c95cd41f41685 Check out my website: http://btcsession... European Central Bank Considering Bitcoin Regulation. How?? Watch the video till the end and know the answer. ----- Subscribe to my channel for further latest news ----- European Central Bank ECB ... ECB cuts rates and prints moneys to try and fight off recession, CME and Binance get serious about futures markets, and the Bitcoin ETF still so far away. RE... This video is unavailable. Watch Queue Queue. Watch Queue Queue

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