Bitcoinist spoke withVitaly Balakhonov, CEO of Eloplay,the eSports platform that allows players to organize and participate in tournaments with decentralized prize pools through the use of its innovative blockchain-based Smart Tournaments. Eloplay&8217s ICO begins on October 16, 2017. BitcoinistHow did you come up with the idea for Eloplay VBAt first it was a simple idea to create a service for one-on-one video games competitions. In April 2016, the platform hosted the first trial battles wh
Famous cryptocurrency proponent and antivirus software developer John Mcaffeestated in a recent article that governments fear cryptocurrencies because they can&8217t tax them. Making Profits with Cryptocurrencies Cryptocurrencies have received a lot of attention from individual and institutional investors since there is a lot of money to be made. From day trading to cryptocurrency mining, there are a lot of ways to make a profitin the digital asset space. Initial Coin Offerings have become o
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On October 11, an exhibition of promising ICO projects and companies that represent the crypto industry will take place in London. Exhibitors will include investment companies, medical services, brokerage service providers, representatives of the gamin…
The FOMC Minutes may ultimately fuel the bullish sequence in EUR/USD should Fed officials defend the downward revision in the longer-run interest rate forecast. The post Tamed FOMC Minutes to Fuel Bullish EUR/USD Sequence appeared first on Forex news f…
A new survey offers a glimpse into the attitude of retail traders towards this new financial tool
A new survey conducted among visitors by the reveals the very positive attitude of retail forex traders towards investing in ICOs.
The post Almost …
The Job Openings and Labor Turnover Survey from the Fed:
– was 6170K (revised to 6140K)
– Hires 5430K vs 5521K prior
– Separations 5228K vs 5362K prior
– Quits 3124K vs 3194K prior
The numbers are a tad soft across the board but they’re coming from a …
The post August US JOLTS job openings 6082K vs 6135K expected appeared first on Forex news forex trade.
An estimated 40,000 Israeli settlers have stormed into the Ibrahimi Mosque in Hebron over the past two days as they mark the Jewish holiday of Sukkot, the Palestinian Information Centre has reported. Israeli occupying forces imposed a curfew on the indigenous Palestinian residents of the occupied West Bank city and closed off numerous roads leading to the mosque in order to allow settlers to enter freely. Some 22,500 Jewish settlers performed religious rituals at the Muslim holy site on Monday, with a further 22,000 storming the building yesterday. The extent of the incursion is unprecedented, but such events are increasingly common. Last month 3,000 settlers stormed the mosque and conducted religious ceremonies inside the prayer hall. Meanwhile, Muslim worshippers have […]
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I was not sure if I was going to write this article. I mean, why become a target of such a
powerful group with such a critical article. However, after watching such negative impact
from large pools of money deployed for self-determination purposes and what
appears to be abuse of powers and inherent resulting dangers, I am compelled to
When pure at heart and cause, the deployment of large pools
of capital to assist with social and economic stability can bring prosperity
and safety acting as a natural buffer to economic downswings. But when wielding such power, it’s easy to
cross the virtuous and ethical lines and justify poor decisions and policies
for insular and egotistical pursuits.
The IMF believes they have the most accurate economic and
financial recipes, especially as it applies to Greece and their best policies moving
forward. But as the old adage goes –
Economists are like a broken clock, they are correct twice a day. The IMF firmly believes they know better than
others and not willing to consider other collective reasoning. Competitive reasoning has taken over and they
appear determined to be proven correct regardless of the costs. This is how a good natured cause succumbs to negative
human impulses such as greed, jealousy, hostility, self-gratification and
The IMF has dug themselves into a corner insisting
conditions in Greece will remain dire and their economic recovering prescriptions
are the only viable solutions. Worse, as
they publicly spar with the other Greek creditors, the patient gets
sicker. Eventually these public spats
and comments lead to such a lack of confidence their forecasts become self-fulfilling
as credit contracts and economic malaise rolls around again.
Never have these detrimental policies and statements of the
IMF been more evident of those last month.
The IMF made comments that they were going to insist on another round of
Greek bank recapitalization, going against the collective thoughts of other
Greek creditors. This led to losses of
up to 50% of publicly traded Greek bank stocks.
Fifty percent in one month? And
the IMF’s primary purpose is to ensure the stability of the international
monetary system?!? Such destruction of wealth has resulted in
nations going to war in the past. Such a
run on the banking sector can subtract significantly from GDP. These comments and resulting effects on
financial markets impact individuals’ savings and livelihood. Reckless.
What I find most appalling is after spreading fear
throughout the banking sector and the economy (they recently changed their
position on Greek bank recapitalization), the IMF raised Greek 2018 GDP
forecast from 2.4% to 2.6%. Had they not
just wreaked havoc on the markets, economy and confidence, would they have
raised it to 3%, 4% or even more?
Let’s find out. The
IMF should pursue virtuous policies without being compelled to visibly act out
publicly when disagreements. They should
act with dignity and respect that is commensurate with the power they
wield. Otherwise, please disarm the IMF.
They need to find their economic
cooperative roots and once again become the righteous group chartered instead
of a group determined to self-fulfill their own prophecies.
by Michael Carino, Greenwich Endeavors, 10/11/17
Michael Carino is the CEO of Greenwich Endeavors and has
been a fund manager and owner for more than 20 years. He has positions in Greek Equities.
The post The IMF Is Using Egotistical Economic WMD–Disarm Them Please: By Michael Carino, Greenwich Endeavors appeared first on crude-oil.news.
The record-breaking streaks of un-dipping gains; the “epic” bull market (Morgan Stanley’s words, not ours); and the total and utter collapse of all risk premia (equity and credit alike) is all about to end according to former fund manager Richard Breslow: “as the long running debate about lack of volatility in the markets continues, I’ve got some good news for you. As long as you promise to be happy with what you wish for. It’s about to change.”
Investors are fearless…
And reaching for yield, no matter what…
Even as real uncertainty soars…
Sure we have momentary bouts of hysteria which people get all excited about and extrapolate to eternity – until they run out of steam forthwith, but as Bloomberg’s Richard Breslow writes:
“I’m talking about good old fashioned two-way flow and nascent trends galore. And I’m officially declaring today the very start of the entire change over process.
Wouldn’t it be ironic if future generations of traders celebrate this epiphanic moment of a return to volatile markets by shutting the exchanges and sleeping in?”
So what’s the big news? I’m glad to say it isn’t war or some other catastrophe. Those have become anti-volatility events, for better or worse. The big news is the release of the FOMC minutes. Now before you get excited, or derisive, I don’t expect any profound surprises. I’m not even all that consumed by the inevitable wrangling over why inflation isn’t showing up in the measurements they’ve chosen. It’s that this is the true start down the road to tapering. Which I expect to start very tamely, orderly and with many pats on backs.
So what’s the catalyst? It’s the next phase of the free rider problem.
QE worked because those benefiting from the appropriation of the public good, namely central bank balance sheets, were the ones in charge. In every sense of the word. And if you were a member of the class of citizens that got left behind you were assured that it was your patriotic duty to accept it gratefully. And by the way, what are you going to do about it?
This was only sustainable and achievable because everyone in the developed world hegemony was doing it in tandem. My low rates are your low rates. As are my equity prices and suppressed volatility. Now that was true globalization. But this is going to change.
The Fed is confident their tapering plan can work because they comfortably assume that the other central banks will let the U.S. enjoy free ridership from their ongoing asset purchases and ridiculous rate structures. That surmise may seem reasonable at the outset, especially with the initial numbers so small. And ultimately prove to be just a bridge too far. And it doesn’t have to be so out of any jealousy, malice or the kind of pettiness that causes all those occasional outbreaks of currency wars.
The issue for the other countries will be that once the U.S. has begun to meaningfully get their balance sheet in order and follow some version of the medium-term dot plot, there will be no protection from global rates being forced collectively higher. And equity markets will realize what’s coming. Sheer survival instinct will force the ECB, BOJ, and others to move forward their own normalization plans.
From the lowest of levels. They’ll have no choice or risk be left high and dry, with very few options of their own. And investors, too, aren’t prepared for it.
It is simply asking too much for the Fed to expect everyone else to smooth their transition, eliminate any pain, make them the heroes and then announce, like a scene from Blazing Saddles, “Son, you’re on your own.” No one is isolated or isolatable and friendship only goes so far.
Those wily foreign exchange traders are the first ones to get this.
Probably because they benefited the least from the actions of the last decade. It makes perfect sense to like the dollar given the divergent central bank cycles out there, but they can’t help understanding that there will be plenty of room for other sovereign rates to snap higher at some point and that is when two-way price action becomes intense.
It is this free ridership problem that should frame the debate over a hawk or dove becoming the next Fed Chair, not whether we should expect an extra hike somewhere down the line.
The timing for this ‘changeover’ process seems frighteningly prescient…
The post Why One Trader Just Called It – “Today Is The Start Of The Market Changeover Process” appeared first on crude-oil.news.
The post Why One Trader Just Called It – “Today Is The Start Of The Market Changeover Process” appeared first on aroundworld24.com.
Moving above 50% retracement target.
The EURUSD is spiking to a new session highs and trades at 1.1858. In the process, the pair has moved above the 50% midpoint of the move down from the Sept 20 high. That comes in at 1.18505. …