Meet Puregold, the newest gold backed cryptocurrency that seeks to fill the function as a payment system where Bitcoin and others have failed

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Even the staunchest anti-cryptocurrency advocates are admitting that the future financial and monetary systems will somehow be integrated onto the blockchain.  And where most of these analysts differ from cryptocurrency evangelists is whether the money of the future will be decentralized like Bitcoin and Litecoin, or resource backed using commodities such as gold or oil. […]

CRYPTO CRASH: You Won’t Believe What Just Happened to Bitcoin

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This post CRYPTO CRASH: You Won’t Believe What Just Happened to Bitcoin appeared first on Daily Reckoning. Bitcoin broke below $10,000 during a wild trading session yesterday, briefly sending the king of cryptos 50% below its December highs. That’s crash territory, folks… But bitcoin speculators didn’t capitulate. A new buying frenzy helped bitcoin recover most […]

2018 Social Security and Medicare Changes

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Every new year brings changes and for 2018 the Federal Government has made changes to Social Security and Medicare. Surprise, surprise! Some retirees get a raise. Some workers will see more come out of their checks for future benefits. And most Medicare recipients will pay more for health care. First, the good news. For the […]

A Golden Opportunity For Precious Metals

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Via Dana Lyons’ Tumblr, The popular gold-based exchange traded product, “GLD”, is testing the Down trendline from its 2011 peak. I think most participants would likely characterize recent markets as exciting — or, at least, interesting. That’s because, despite historically depressed volatility indices, there has certainly not been a lack of movement. Stocks are soaring, […]

Trump Says CHIP Extension Shouldn't Be Part Of Stopgap Spending Bill

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Update: In what appears to be another unvetted twitter outburst, President Donald Trump tweeted Thursday that an extension for CHIP – the children’s health-insurance program – that Republican leaders had included in their stopgap bill should be part of a “long term” solution, not the 30 day extension.   CHIP should be part of a […]

Sacrifices Will Be Made

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Financial sacrifices are so obvious and commonplace they are seldom acknowledged. Borrowing money on a credit card, mortgage or car loan to purchase something is typical. You have sacrificed future spending for use in the present. If the purchase, financed by debt, increases income more than the cost of debt service, the required principal plus […]

Philly Fed Slumps Near Weakest Since Dec 2016 As 'Hope' Tumbles

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Having reached its highest since 2014 in mid 2017, Philly Fed has slid notably since and printed 22.2 in January – equaling the weakest since Dec 2016. ‘Hope’ took a big hit, dropping from 52.70 to 42.2, as new orders and employees weakened. Price increases were more widespread this month. On the cost side, nearly […]

Housing Starts Crash In December

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Housing Starts plunged 8.2% MoM in December (5 times worse than expected and the biggest drop since Nov 2016) and November was revised lower as it seems the exuberant steam is coming out of the housing ‘recovery’.     Year-over-Year Housing Starts tumbled 6.0%…   Driven by a big slump in single-family housing starts…   […]

Cry-Baby OPEC Just Got Exactly What They Wanted… (Again)

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This post Cry-Baby OPEC Just Got Exactly What They Wanted… (Again) appeared first on Daily Reckoning. Are you wondering why oil is off to such a rousing start in 2018? Look no further than the chart below: This chart depicts where the level of oil in storage at Cushing, OK stands relative to the trailing […]

Crypto Rebound Continues As South Korea Admits Exchange Shutdown May Be Impossible

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The rebound from yesterday’s lows ahead of the Bitcoin futures expiration continues across the crypto space with Ripple soaring over 50% in the last 24 hours. South Korean headlines continue, ranging from insider-trading accusations to admissions that shutting down crypto is “realistically impossible.” Bitcoin hit $12,000 this morning… Quite a rebound…   As headlines pour […]

Market Bulls Target S&P 3000

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It’s a record. As of yesterday’s market close, the Dow crushed its previous record milestone time frame by adding 1000 points to the index in just 8-trading days. The S&P also rose to 2800 at a record pace adding 100-points in just 10-days. It is starting to go parabolic. While the record-breaking pace is certainly breathtaking, […]

Chile’s regulator orders permanent closure of Barrick's Pascua-Lama mine

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Chile’s environmental authority — SMA — has ordered the definitive closure of Barrick Gold’s (TSX, NYSE:ABX) already halted Pascua-Lama project, but lowered the fine for violations to 7 billion pesos ($11.5 million) from the previous $16 million it had charged the company. “Given the nature and the size of the breaches that the company committed, there is […]

Danger of defaulting: S&P signals warning over Eskom, huge risk it poses to SA

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By Loni Prinsloo (Bloomberg) — There is a “clear danger” that South Africa’s state-owned power utility, Eskom Holdings SOC Ltd., could default on its debt, S&P Global Ratings said. “We are very concerned about liquidity issues,” Konrad Reuss, the managing director of S&P for sub-Saharan Africa, said at an event in Johannesburg Thursday. Eskom is the biggest […]