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    INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

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    Carol
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Mon Jun 19, 2017 10:50 am

    Stunning Footage Of American's Crumbling Infrastructure
    Jun 18, 2017


    It’s no secret that America’s infrastructure is in dire need of repairs. Earlier this year, America received her infrastructure report card from the American Society of Civil Engineers’ and received a repulsive D+. The ASCE guesstimates the US would need to spend $4.5 trillion by 2025 on infrastructure.

    Here’s the breakdown of the report card:

    Aviation: D
    Bridges: C+
    Dams: D
    Drinking Water: D
    Energy: D+
    Hazardous Waste: D+
    Inland Waterways: D
    Levees: D
    Parks and Recreation: D+
    Ports: C+
    Rail: B
    Roads: D
    Schools: D
    Solid Waste: C+
    Transit: D-
    Wastewater: D+


    With that being said, I’ve spent the entire weekend inspecting America’s infrastructure at the Port of Baltimore.

    At some locations, I was given special access to a behind the scenes view of America’s crumbling infrastructure that the public is not allowed to see. The reasons you’re left out of the know is because it destroys the mainstream narrative that everything is awesome.

    Even Jack Ma, the founder of Alibaba Group says, “the US wasted trillions on warfare instead of investing in infrastructure”.

    In the Sunday Edition, Alastair Williamson is on site at a marine terminal in the Port of Baltimore. He provides an interesting view of America’s deteriorating infrastructure blended with the current shape of the US economy.

    In this video, Alastair is given special access to behind the scenes of America’s crumbling infrastructure. This view is rarely seen by the mainstream public. Enjoy!



    https://www.youtube.com/watch?v=72gSKZ4tjLw


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Mon Jun 19, 2017 12:00 pm

    HKMA Says Hong Kong Peg to Stay; Sets Yuan Link Conditions
    https://www.bloomberg.com/news/articles/2017-06-18/hkma-chief-chan-sees-no-need-to-change-city-s-34-year-dollar-peg

    Hong Kong’s pegged exchange rate should stay as it has served the city well through financial crises for more than 30 years, the chief of its de facto central bank said.

    “Hong Kong is a small and open economy,” Hong Kong Monetary Authority Chief Executive Norman Chan said in a statement as the city approaches the 20th anniversary of Chinese rule. “Keeping a stable exchange rate between the Hong Kong dollar and the U.S. dollar is the most suitable arrangement. We have no need and no intention to change such an effective system.”

    The city linked its currency to the greenback in 1983, when negotiations between China and the U.K. over Hong Kong’s return to Chinese rule spurred a capital exodus. The Hong Kong dollar has come under pressure this year amid a widening interest-rate gap with the U.S., with the local exchange rate touching the lowest level since January 2016 on Friday.


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Fri Jun 23, 2017 11:25 am

    The Real Purpose Behind The Russian/Trump Conspiracy Propaganda
    http://www.zerohedge.com/news/2017-06-22/real-purpose-behind-russiantrump-conspiracy-propaganda
    Jun 22, 2017
    Authored by Brandon Smith via Alt-Market.com,

    Just after the US presidential election in 2016 I published an article titled 'Order Out Of Chaos: Defeat Of The Left Comes With A Cost', covering a rather difficult subject matter, namely the concept of “4th Generation Warfare” and how it is used by establishment elitists to defeat popular resistance to their agenda of centralization and globalization. 4th Gen tactics are confusing to many because most people think in terms of single movements and direct correlations; they think that a punch thrown is a punch intended to strike, rather than intended as a feint or misdirection.

    I'll put it another way – some people play chess and they only see the attack in front of them. Others play chess and they see the attack three moves ahead. 4th gen warfare is a “three steps ahead” style of fighting that focuses on a very specific goal: Tricking the enemy into destroying himself, or enslaving himself, so that you don't have to take any risks by moving against him directly. That is to say, 4th gen warfare is first and foremost about psychology. That which you see with your eyes is usually not what is actually happening.

    For example, when predicting the election win of Donald Trump and the passage of Brexit, I based my conclusions on a 4th gen strategy. According to the behavior and rhetoric of globalists and their organizations at the time, it seemed to me that they were allowing sovereignty and conservative movements to gain a foothold in the political arena. They were letting us THINK that we were winning.

    This accomplishes a few things – it takes conservatives off their guard and convinces them to think in terms of defending government rather than overthrowing government. The corruption has not changed, but now we have a vested interest in keeping the system going and attempting to change it “from the inside”. I hope it is clear to the majority of liberty activists today that this is a naive notion.

    Conservatives are also now willing to argue in favor of the election system, because many of them think that because Donald Trump “won” the system must be at least partially legitimate. News Flash: Our election system has been fraudulent for decades. The only candidates that ever make it past the DNC and the RNC filters are the candidates the elites WANT the public to choose from.

    The American public is also now viciously divided over Trump's ascendance to the White House. The political left has been driven to the point of utter insanity, not that they weren't already stark raving mad to begin with. Conservatives are next to be targeted with psychological manipulation, as the leftist zealotry pushes us towards the other end of the spectrum and a potentially dangerous mindset of rationalizing a totalitarian response. Where extreme social divisions exist, civil unrest and war are not far behind.

    Finally, the existing economic and social framework of the US in particular has a finite lifespan. Economic instability is rampant as I noted and evidenced in last week's article, and this has been a process ongoing since the initial 2008 credit and derivatives crisis. The old structure of America is being deliberately torn down to make way for a new structure; a single global edifice in which we are not a nation but a feudal vassal with no ideas of sovereign self determination. That said, the old world cannot be torn down outright. The globalists do not plan to take any blame for the crisis that would inevitably follow. Enter Trump, the perfect scapegoat for the next stage of fiscal collapse, and perhaps a pied piper convincing enough to lure numerous conservative groups into taking the blame as well.

    Trump, a seeming enemy of the globalist agenda, takes office, then surrounds himself with the same bankers and globalists he admonished during his campaign. He continues his anti-globalist rhetoric, but his actions tend to help them. Conservatives, desperate for a hero on a white horse to ride in and stop the rushing tide of cultural Marxism, were given one... just not in the manner they were hoping for.

    In the meantime, the establishment has sought to keep social tensions high. How? The political left has been played like a marionette since the election with a narrative of "Russian conspiracy". You see, hatred is psychologically exhausting. Mobs tend to dissipate and become impotent over time. It is hard to sustain the hatred of a large mass of people without consistent propaganda. Thus, it is important to give people a reason to hate; a reason that fuels perpetual reinforcement. For leftists, the desire to hate Trump runs deep. They think he represents everything that stands in opposition to their ideology, and zealots cannot tolerate the existence of opposing ideals. But there has to be more. The left has to be convinced that Trump is a thief, a thief so heinous that he stole an election with the help of a foreign power.

    Now, not only is Trump the anti-christ to leftists, he is also a false president – a pretender to the throne. This narrative is more than enough to keep the left frothing at the mouth for months if not years.

    As many analysts have pointed out, there is absolutely no evidence whatsoever that Trump “stole” the election, let alone colluded with the Russian government to steal the election. Former FBI director James Comey's recent testimony before the Senate Intelligence Committee produced nothing; no memos, no paper trail, zip, zilch. The very existence of the “Comey memos” is likely a farce.

    But here is where I break with many in the liberty movement – some analysts assume that Trump is being “targeted” and that the goal is to remove him from the White House. This makes little sense to me. If the elites wanted to stop Trump they would have done it during the RNC selection process just as they did to Ron Paul, and just as the DNC did to Bernie Sanders.

    Clearly, Trump is more valuable to them sitting in the Oval Office, as I outlined above. The Russian circus is going nowhere because it was never meant to go anywhere. It is distraction and drama, a soap opera for the ignorant masses. Trump will not be removed from office. If he does end up impeached, the impeachment will fail. As I have said since before the election, the establishment needs Trump as president.

    So, if I am correct and the Russian conspiracy narrative is not intended to take Trump down, what is it intended for? As stated earlier, this is 4th gen warfare, and the intended target for propaganda is not always the obvious target.

    As noted, Leftists are the initial target. They will continue to believe that Trump is a Russian collaborator because they want to believe it, regardless of how absurd the whole idea is. They will ignore the fact that there is no evidence to support the accusation. They will embrace the propaganda wholeheartedly and develop more violent methods to express their outrage.

    The secondary target of the Russian conspiracy manipulation is conservative groups.

    Here is the reality of our predicament; the US system is going to move into the next phase of collapse under Trump's watch. Period. The math is undeniable. Every economic indicator except stocks is in severe decline, the Federal Reserve is raising interest rates to deliberately ignite greater instability and time is running out. I believe that this phase will begin before the end of 2017. When the next downturn arrives on the doorstep and in the pocketbooks of the average American, the leftists and most of the world will blame Trump as an “incompetent buffoon” or a “vitriolic fascist”.

    Just as the elites need to make Trump and conservatives the best possible scapegoat for the left; they also need a perfect scapegoat for the political right. The narrative will be turned against the leftists and conservatives will exclaim that Trump was not able to reverse economic damages “created by the Obama administration” because leftists used the fake Russian conspiracy as a means to undermine him at every opportunity. Leftists will be labeled economic and political saboteurs, and this accusation will work to a point, because it is partly true.

    Finally, as America's decline accelerates, Eastern nations will without a doubt decouple completely from the US dollar as the world reserve currency and begin using the IMF Special Drawing Rights basket structure as a replacement. Russia will most likely lead this charge along with China. Americans will blame Russia in part for the demise of the dollar's buying power around the world. And, the rest of the world will blame the U.S. for the dollar's demise due to U.S. “imperialism” and overt sanctions against Russia. They will say we had it coming.

    Perhaps you have noticed a particular pattern here? Every piece of the narrative I have outlined has already been initiated, if perhaps only in early-to-mid stages of development. This is an open dialogue common in the mainstream. And in every case, the offered culprit behind the downfall of America is always someone other than the banking elites. Anyone other than the banking elites.

    THE BLAME GAME

    Leftists and socialists around the globe will blame Trump and conservative principles. Conservatives will blame the left and their obstructions of Trump. The West will blame the East. Globalists will blame “populists” and nationalists, and nationalists will be scrambling to protect their ground by any means necessary, including unconstitutional measures, which will only help the globalists in the long run.

    A core catalyst for this geopolitical blame game is the Trump presidency and the use of the Russian conspiracy to ensure that the left remains crazy, inspiring the right towards extreme measures. Again, this is not about removing Trump, it is about manipulating the left; it is about using the Left's cultural Marxism to trigger an iron-fisted reaction from the political right.

    In my recent article 'Operation Temperer - U.K. Will Likely Institute Martial Law Measures Within A Year', I warned readers that the UK government has already set in motion martial law measures in response to a growing number of Islamic terrorist attacks. In the US, I think the same march towards totalitarianism will occur, but for reasons beyond foreign terrorism. Economic uncertainty coupled with a volatile left hellbent on supplanting the presidency by any means necessary may very well be exploited by Trump and the elites surrounding him to establish martial law measures in the US. And, I have little doubt that a portion of conservatives will cheer this action.

    If this takes place and conservatives come out in majority support, then the globalist use of 4th Gen warfare will have succeeded. They will have won. For if conservatives abandon the constitution, then no one will be left to defend the principles and heritage it represents. We will have destroyed ourselves, and the elites will have barely lifted a finger to make this happen. The game can be changed entirely, but only if we are smart enough to recognize the narrative for what it is, and only if we turn our sights on the globalists instead of hyperfocusing on the scapegoats they offer us.


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Sat Jun 24, 2017 9:13 am

    WHAT HAPPENED TO LIBYA'S GOLD? - QUESTIONS FOR CORBETT - THE CORBETT REPORT
    https://www.bitchute.com/video/XW3dW7JzbHE/

    SHOW NOTES AND MP3: https://www.corbettreport.com/?p=23097

    Libya had 144 tons of gold in the vaults when NATO's humanitarian love bombs began raining down in 2011. So now that the company has been utterly destroyed and discarded like yesterday's newspaper, what happened to all that gold, anyway? Join James for this month's #Q4C as he delves into the topic of Libya's gold and fields your questions on Skull & Bones, CIA art, open borders, education in Japan and much more.


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Wed Jun 28, 2017 2:11 pm


    https://www.youtube.com/watch?v=p28WN6RnRoA&app=desktop
    Greg Hunter and James Howard Kunstler -
    Major Crisis of Culture and Economy Coming Soon

    Published on Jun 27, 2017
    How does James Howard Kunstler think all the rigged financial markets and fantasy economy will play out? Kunstler says, “There is an appearance that they can carry on these shenanigans forever, but sooner, rather than later, we are going to see consequences. My guess is it will appear in the form of people losing their confidence in the value and the meaning of the money they are using. That would be a currency crisis. Right now, they have no reason to believe in the value of the things in the markets because the markets have been so distorted. Eventually, I think it will be a matter of them losing confidence in the currencies themselves. I think that’s where it’s going to start to accelerate into a major crisis of culture and economy.”

    Join Greg Hunter as he goes One-on-One with journalist James Howard Kunstler, author of the new book “A Safe and Happy Place,” his 20th book.


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Sat Jul 01, 2017 3:02 pm



    The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way
    http://theeconomiccollapseblog.com/archives/the-world-is-now-217000000000000-in-debt-and-the-global-elite-like-it-that-way
    By Michael Snyder, on June 29th, 2017

    The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers. Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation. As the elite get governments around the globe in increasing amounts of debt, those governments must raise taxes in order to keep servicing those debts. In the end, it is all about taking money from us and transferring it into government pockets, and then taking money from government pockets and transferring it into the hands of the elite. It is a game that has been going on for generations, and it is time for humanity to say that enough is enough.

    According to the Institute of International Finance, global debt has now reached a new all-time record high of 217 trillion dollars…

    Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327 percent of the world’s annual economic output (GDP), reports the Institute of International Finance (IIF).

    The surging debt was driven by emerging economies, which have increased borrowing by $3 trillion to $56 trillion. This amounts to 218 percent of their combined economic output, five percentage points greater year on year.

    Never before in human history has our world been so saturated with debt.

    And what all of this debt does is that it funnels wealth to the very top of the global wealth pyramid. In other words, it makes global wealth inequality far worse because this system is designed to make the rich even richer and the poor even poorer.

    Every year the gap between the wealthy and the poor grows, and it has gotten to the point that eight men have as much wealth as the poorest 3.6 billion people on this planet combined…

    Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos. This didn’t happen by accident. Sadly, most people don’t even understand that this is literally what our system was designed to do.

    Today, more than 99 percent of the population of the planet lives in a country that has a central bank. And debt-based central banking is designed to get national governments trapped in endless debt spirals from which they can never possibly escape.

    For example, just consider the Federal Reserve. During the four decades before the Federal Reserve was created, our country enjoyed the best period of economic growth in U.S. history. But since the Fed was established in 1913, the value of the U.S. dollar has fallen by approximately 98 percent and the size of our national debt has gotten more than 5000 times larger.

    It isn’t an accident that we are 20 trillion dollars in debt. The truth is that the debt-based Federal Reserve is doing exactly what it was originally designed to do. And no matter what politicians will tell you, we will never have a permanent solution to our debt problem until we get rid of the Federal Reserve.

    In 2017, interest on the national debt will be nearly half a trillion dollars.

    That means that close to 500 billion of our tax dollars will go out the door before our government spends a single penny on the military, on roads, on health care or on anything else.

    And we continue to pile up debt at a rate of more than 100 million dollars an hour. According to the Congressional Budget Office, the federal government will add more than a trillion dollars to the national debt once again in 2018…

    Unless current laws are changed, federal individual income tax collections will increase by 9.5 percent in fiscal 2018, which begins on Oct. 1, according to data released today by the Congressional Budget Office.

    At the same time, however, the federal debt will increase by more than $1 trillion.

    We shouldn’t be doing this, but we just can’t seem to stop.

    Let me try to put this into perspective. If you could somehow borrow a million dollars today and obligate your children to pay it off for you, would you do it?

    Maybe if you really hate your children you would, but most loving parents would never do such a thing.

    But that is precisely what we are doing on a national level.

    Thomas Jefferson was strongly against government debt because he believed that it was a way for one generation to steal from another generation. And he actually wished that he could have added another amendment to the U.S. Constitution which would have banned government borrowing…

    “I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.”

    And the really big secret that none of us are supposed to know is that governments don’t actually have to borrow money.

    But if we start saying that too loudly the people that are making trillions of dollars from the current system are going to get very, very upset with us.

    Today, we are living in the terminal phase of the biggest debt bubble in the history of the planet. Every debt bubble eventually ends tragically, and this one will too.

    Bill Gross recently noted that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”. One wrong move and the whole thing could blow sky high.

    When everything comes crashing down and a great crisis happens, we are going to have a choice.

    We could try to rebuild the fundamentally flawed old system, or we could scrap it and start over with something much better.

    My hope is that we will finally learn our lesson and discard the debt-based central banking model for good.

    The reason why I am writing about this so much ahead of time is so that people will actually understand why the coming crisis is happening as it unfolds.

    If we can get everyone to understand how we are being systematically robbed and cheated, perhaps people will finally get mad enough to do something about it.


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Fri Jul 14, 2017 1:55 pm


    AND ANOTHER THING: CHASE WAS HIT BEFORE JULY 4th TOO…
    https://gizadeathstar.com/2017/07/another-thing-chase-hit-july-4th/

    Let's posit a hypothetical bank, say, Deutsche-Manhattan-Cheese Banco dei Flaschi di Cesspool, and let's say that, just before the beginning of August, when the entire country of France goes on vacation holiday, Deutsche-Manhattan-Cheese Banco dei Flaschi di Cesspool announces in the Toulouse Daily Whistle, that it is going to shut down its systems to make improvements just before the next holiday, stranding thousands of Frenchmen at their ATMs and keeping Paris unusually populated for the month of August.

    That's quite an improvement, for during this period of being "down," one might - just as a kind of hypothetical high octane speculation - be able to access the funds that its depositors could not access, and via a variety of cutouts, fronts, and so on, be able to place gobs of trades, make huge amounts of money, keep it all off the books (remember, the system is down - just before the holidays - to make "improvements"), trigger various flash crashes in various markets, and perhaps even target specific equities to be re-evaluated because of the reset when the circuit breakers kick in and halt all the trading.

    But of course, nothing like that could ever happen, because we all know that big international mega-banks like Deutsche-Manhattan-Cheese Banco dei Flaschi di Cesspool are cleaner than a Wall Street toilet.

    And thank goodness too, because I was beginning to lose my faith in crony finance crapitalism.


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Sun Jul 16, 2017 1:08 pm


    The case for free-market anticapitalism
    https://capx.co/the-case-for-free-market-anticapitalism/

    This is a very interesting article interviewing Elon Musk. It is interesting to think about a number of things in it that are referenced worth considering. First he talks about technology in 40 years moving from 2D pong video games to our current level of virtual reality where eventually and shortly virtual reality and reality in fact become indistinguishable. We are moving to a place where virtual reality may even seem more real than reality itself. He addresses that if we do not regulate it in time there will be the threat of the evolution of Artificial Intelligence to become self aware and exceed human capabilities in all areas and the potential of the soulless machine become the demise of or slave master of humanity. Even with regulation there could be those rogue who violate those regulations. In the past he has discussed the possibility we are already living in a computer simulation of virtual reality much like the movie the matrix. It is interesting to contemplate all of this, isn't it.




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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Swanny on Mon Jul 17, 2017 4:19 am

    Have a listen to this


    Red Dwarf better than life

    The crew play an artificial game called "Better than life" which makes the players' wishes come true,



    https://www.youtube.com/watch?v=dDoItNNdLg0
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Mon Jul 17, 2017 10:41 am

    Over $7 Million Stolen After CoinDash Initial Coin Offering Hacked
    http://www.zerohedge.com/news/2017-07-17/over-7-million-stolen-after-coindash-initial-coin-offering-hacked
    by Tyler Durden
    Jul 17, 2017 11:26 AM

    It was bound to happen: after hundreds of millions of capital was raised through "Initial Coin Offerings", with the recently concluded Tezos coin offering raising a record $232 million in 2 weeks, it was inevitable that (at least) one would get hacked. On Monday morning, that's precisely what happened to CoinDash, a blockchain startup focusing on "cryptocurrency social trading and portfolio management platforms", which sent out an urgent warning to investors advising of a severe cyber security breach of its crowdfunding page.

    Apparently the hack involved switching over the legitimate address to a fake one, to which "investors" were sending their funds. The CoinDash warning reads:

    This is an emergency message delivered to you in order to stop you from sending your money to an unauthorized ETH address. It seems like our Token Sale page was tampered and the sending address was changed. Please stop from sending your funds to any of the addresses until we say otherwise. We are currently examining the situation and will shortly send further instructions.


    The site also issued a follow up announcement:

    CoinDashers, soon we will get the site back and release our official announcement about what just happened. Everyone who participate, both with the right & fraud address will get his CDT. Pleases be patient as we are trying to make things clear

    Less ambitious than the Tezos offering, the CoinDash Token Sale only started a bit earlier today (July 17th, 2017), and was supposed to last for 28 days or until the funds raised reach a $12 million hard cap.

    This is what the ICO's bonus structure was supposed to look like:

    First day bonus – 30%
    First week bonus – 20%
    Second week bonus – 10%
    Rest of the Token Sale period bonus – 0%

    However, it was not meant to be, and moments ago the startup tweeted that "The Token Sale is done, do not send any ETH to any address. Official statement regarding the hack will be released soon."


    Some background on this particular ICO and statup, courtesy of Finance Magnates, which recently conducted an interview with CEO Alom Muroch:

    The Coindash platform will enable cryptocurrency investors to manage and analyze their portfolios, share insights about the market and display achievements, as well as copy-trade and receive trading signals.

    Coindash’s current partners include CryptoCompare, Smith & Crown and RSK Labs, WINGS, ethere.camp, Antshares and HyperChain Capital. Back in May 2017 Coinsilium Group Limited (NEX:COIN), the London-based blockchain venture investment fund, confirmed that it has completed its investment of $75,000 in Coindash.
    The scammer’s address has been quickly tracked down: https://etherscan.io/address/0x6a164122d5cf7c840d26e829b46dcc4ed6c0ae48

    While the monetary damages have yet to be confimed, according to Etherscan it appears that over $7 million was already "stolen" in 2130 transactions, as a result of the address redirection hack.


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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Mon Jul 17, 2017 10:46 am

    95% Of Europeans Reject EU Efforts To "De-Cash" Their Lives
    http://www.zerohedge.com/news/2017-07-16/95-europeans-reject-eu-efforts-de-cash-their-lives

    Authored by Don Quijones via WolfStreet.com,

    But the IMF has suggestions on how to win the War on Cash...

    In January 2017 the European Commission announced it was exploring the option of imposing upper limits on cash payments, with a view to implementing cross-regional measures as soon as 2018. To give the proposal a veneer of respectability and accountability the Commission launched a public consultation on the issue. Now, the answers are in, but they are not what the Commission was expecting.

    A staggering 95% of the respondents said they were opposed to a cash ceiling at EU level. Even more emphatic was the answer to the following question:

    “How would the introduction of restrictions on payments in cash at EU level benefit you, or your business or your organisation (multiple replies are possible)?”

    In the curious absence of an explicit “not at all” option, 99.18% chose to respond with “no answer.” In other words, less than 1% of the more than 30,000 people consulted could think of a single benefit of the EU unleashing cross-regional cash limits.


    Granted, 37% of respondents were from Germany and 19% from Austria (56% in total), two countries that have a die-hard love for physical lucre. Even among millennials in Germany, two-thirds say they prefer paying in cash to electronic means, a much higher level than in almost any other advanced economy with the exception of Japan. Another 35% of the survey respondents were from France, a country that is not quite so enamored with cash and whose government has already imposed a maximum cash limit of €1,000.

    By its very nature the survey almost certainly attracted a disproportionate number of arch-defenders of physical cash. As such, the responses it elicited are unlikely to be a perfect representation of how all Europeans would feel about the EU’s plans to introduce maximum cash limits. Nonetheless, the sheer strength of opposition should (but probably won’t) give the apparatchiks in Brussels pause for thought.

    Respondents cited a number of objections to EU-wide cash restrictions, chief among them the convenience of using cash and the limited impact the measure would probably have on achieving its “stated” objectives of curbing terrorism, tax evasion, and money laundering. Of course, there are many other reasons to worry about living in a cashless (or “less cash”) society that were not offered as an option in the survey, including the vastly increased power it would give to political and monetary authorities as well as the near-impossibility of ever escaping from the clutches of the banking system or central banks’ monetary experiments.

    The biggest cited concern for respondents was the threat the cash restrictions would pose to privacy and personal anonymity. A total of 87% of respondents viewed paying with cash as an essential personal freedom. The European Commission would beg to differ. In the small print accompanying the draft legislation it launched in January, it pointed out that privacy and anonymity do not constitute “fundamental” human rights.

    Be that as it may, many Europeans still clearly have a soft spot for physical money. If the EU authorities push too hard, too fast in their war on cash, they could provoke a popular backlash. In Germany, trust in Europe’s financial institutions is already at a historic low, with only one in three Germans saying they have confidence in the ECB. The longer QE lasts, the more the number shrinks.

    Bundesbank president Jens Weidmann has already warned that it would be “disastrous” if people started to believe cash would be abolished — an oblique reference to the risk of negative interest rates and the escalating war on cash triggering a run on cash. The IMF has also waded into the debate with a working paper full of sage advice for governments keen on “de-cashing” – as the IMF calls this procedure – their economies against the will of their citizenry (emphasis added):

    The private-sector-led de-cashing seems preferable to the public-sector-led decashing. The former seems almost entirely benign (e.g., more use of mobile phones to pay for coffee), but still needs policy adaptation. The latter seems more questionable, and people may have valid objections to it. De-cashing of either kind leaves both individuals and states more vulnerable to disruptions, ranging from power outages to hacks to cyberwarfare. In any case, the tempting attempts to impose de-cashing by a decree should be avoided, given the popular personal attachment to cash.

    A targeted outreach program is needed to alleviate suspicions related to de-cashing; in particular, that by de-cashing the authorities are trying to control all aspects of peoples’ lives, including their use of money, or push personal savings into banks.
    It basically involves making it easier and cheaper for people to use electronic payment methods while subtly turning the screw on those who would prefer to continue using cash (for perfectly valid reasons, as the IMF itself admits), presumably by making it more difficult and expensive to do so. In many places it’s already happening.

    But a surprisingly large number of people still appear to have a strong sense of attachment to physical money, particularly in Europe’s most important economy, Germany. And if the survey is any indication, they have little interest in changing those habits.




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    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Mon Jul 17, 2017 10:51 am

    Earth's Economy Glorifies Waste, Exploitation, Debt, Expediency, & Magical Thinking
    Read: http://www.zerohedge.com/news/2017-07-17/earths-economy-glorifies-waste-exploitation-debt-expediency-magical-thinking

    Authored by Charles Hugh Smith via OfTwoMinds blog,

    Humanity appears to default to magical thinking when faced with untenable situations that demand systemic change.

    How would extraterrestrial anthropologists characterize Earth's dominant socio-economic system? It's not difficult to imagine their dismaying report:

    "Earth's economy glorifies waste. Its economists rejoice when a product is disposed as waste and replaced with a new product. This waste is perversely labeled 'growth.'

    Aimless wandering that consumes fossil fuels is likewise rejoiced as 'growth.'

    The stripping of the planet's oceans for a few favored species of edible fish is also considered 'growth' as the process of destroying the ocean ecosystem generates sales of the desired seafood.

    Even more perversely, the resulting shortages are also causes of rejoicing by the planet's elites, as their ability to purchase the now-scarce resources boosts their social status and grandiose sense of self-worth.

    This glorification of waste is the same dynamic that destroyed the civilization on Zork.

    Earth's economy also glorifies exploitation, as this maximizes profits, which appears to be the planetary equivalent of a secular religion that everyone believes as a Natural Law.

    Thus slavery and monopoly are highly valued as the most reliable sources of profits. If ethical concerns limit the actual ownership of humans, Earth's economy incentivizes feudal arrangements that share characteristics of servitude and bondage. In the current era, the favored mechanisms are over-indebtedness (debt-serfdom) and taxation by the state, which extracts approximately 40% of all labor via threat of imprisonment.

    Earth's elites exhibit a pathological preference for micro-managing the commoners via criminalizing much of everyday life and imposing extremely harsh punishments for any dissent or resistance to elite domination.

    This is the same dynamic that doomed planetary civilizations in the Blug system.

    Earth's economy is currently dependent on depleting fossil fuels and borrowing from the future to fund consumption in the present, i.e. debt. Rather than face the reality that this is not sustainable and pursue other arrangements, Earth's elites have chosen expediency, responding to the inevitable crises caused by depletion and dependence on debt with expedient but ultimately destructive policies that paper over the crises but at the cost of generating greater crises in the next iteration.

    Humanity appears to default to magical thinking when faced with untenable situations that demand systemic change. This is eerily parallel to the now-lost civilization of Frum.

    It seems Earth's dominant species has selected the most destructive policies and mindsets to glorify and worship. Earth's current civilization is doomed, with near-zero prospects for the necessary transition to a more sustainable, less exploitive arrangement.

    Earth's decline is a tragi-comedy, much like the one on Ononon that entertained our home planet audiences for a time."

    In case you missed it, here's a snapshot of total debt as a percentage of median household income: from 79% to 584%.


    If this strikes you as "healthy growth" because "debt doesn't matter"-- welcome to the Wonderland of Magical Thinking.


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    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol
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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

    Post  Carol on Fri Jul 21, 2017 9:48 am


    https://www.youtube.com/watch?v=-mejOviGyok&app=desktop
    The Biggest Scam In The History Of Mankind - Explained In 7 Minutes
    Our government is not in control of our money.

    The history of the Federal Reserve. Lack of Accountability, Transparency, and Responsibility. Group of Elite Bankers, in the form of shareholders (members), control the currency of the United States, the most powerful country in the world.


    _________________
    What is life?
    It is the flash of a firefly in the night, the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset.

    With deepest respect ~ Aloha & Mahalo, Carol

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    Re: INTERNATIONAL FINANCIAL PROGRESS REPORT - part 2

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