The bad news just keeps coming for the bitcoin ecosphere. This article reports that China has ordered its banks to stop providing financial services for any cryptocurrency related transactions. This is important because customers wishing to buy or sell cryptocurrencies have to start by funding their crypto accounts from conventional banking sources. Also, when customers
The Incredible Growth of Fintech Hat tip to Josh Wardini at Expedia for a terrific infographic of the investment dollars pouring into Meraglim’s Fintech & Artificial Intelligence sectors.
About 15 years ago, a Swiss banker loaded all of the confidential information on Americans with Swiss bank accounts that he could find onto a CD-ROM. He flew to the United States and handed the information over to the U.S. Treasury and the FBI. The banker was in trouble for helping Americans evade taxes and
It’s no secret that deficit spending is out of control and the U.S. national debt is heading for nosebleed levels. When Ronald Reagan was sworn in as president in January 1981, the U.S. debt-to-GDP ratio was 32%. When Donald Trump was sworn in as president in January 2017, that ratio had grown to 105%, the
CFIUS (pronounced SIF-eus) is one of the more obscure corners of the U.S. national security apparatus. CFIUS stands for the Committee on Foreign Investment in the United States. Even most Washington insiders have never heard of it. When you say “CFIUS” in Washington most people ask you if there’s a cure. CFIUS is a Cabinet
Gold has entered the third bull market of my lifetime. The first bull market was 1971-1980 when gold gained 2,190%. The second bull market was 1999-2011 when gold gained 655%. The third bull market started in December 2015 and gold is up almost 30% already. The new bull market should have many years to run
Remember the days (about six months ago) when bitcoin was going to revolutionize banking and disintermediate the mean nasty “banksters?” Well, a funny thing happened on the way to the revolution. Bitcoin itself has hit an air pocket with a 50% price drop last week. Meanwhile the banks are taking over the blockchain as this article
While all the media hype lately has been about bitcoin, a sleeping giant in the monetary space has awakened. The sleeping giant is gold. The dollar price of gold per ounce was up 8.6% in 2016, 13.1% in 2017 and 2.7% so far in 2018. Overall, gold has rallied 27.3% from its low of $1,051
