Month: August 2015

August Bitcoin Flash Crash: Harbinger Of Increased Volatility?

Bitcoin has yet to recover from a flash crash which took place one week ago. Since that time, global markets have endured major volatility. Yet Bitcoin – which some Bitcoiners champion as a hedge against an empty global financial system – has trended down in the past week.

On August 18 around 5:00pm PST, a Bitcoin flash crash brought the price of the digital currency down to $162 from north of $250. The flash crash came amid much controversy regarding the block size debate. Michael Hearn and Gavin Andresen, Bitcoin programmers, have launched Bitcoin-XT, a new Bitcoin client, and wish to fork the Bitcoin community in favor of their client. While there have been criticisms, that the number of current Bitcoin transactions is programmatically limited makes such considerations importants.  Here is a chart of the crash:

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Bitcoin broke $162.

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The price has bounced between $200-250.

In the wake of the flash crash, Bitcoin has shown enduring volatility to the downside. Institutions dealing in Bitcoin are likely taking a step back and re-assessing their positions until the Bitcoin block size debate settles decreasing demand. Bitcoin, now at $216, could trend lower. Global stock market volatility – with the DOW down 1,000 points – could bolster the case for Bitcoin, but Bitcoin does not seem to be in the right position to cater to such a market.

The Bitcoin price further decreased today upon news that Bitfinex shut down its order book. The Hong Kong exchange endured a flash crash last week and halted trading for seven hours this morning.

Zane Tackett, In a statement, Zane Tackett, Bitfinex’s director of community and product development, stated on Reddit:

“Earlier today, at 5:27 UTC, we encountered an issue with post-trade processing, upon which we decided to halt trading to ensure consistency in the order book.”

People Are Freaking Out On Reddit’s r/Investing Right Now

As economist and investor Tuur Demeester pointed out on Twitter, people on r/Investing are truly freaking out amid the global stock market meltdown. One of the top posts of the day on the subreddit yesterday, posted by footballissoccer, shows a number to the National Suicide Help Line in the US.

 

In the comments individuals talk about how they are handling the volatility.

“I’ve made a decision not to sell. I’ve got little to no capital to throw into a well-time market low,” User leontes writes.“So- I’m deciding not to watch the market. Moment to moment checking just is upsetting. Whether it bounces back in a week, or a year, or a decade, so be it.”  One user posts yesterday was the first -1000 point drop day he has seen.

Another post, entitled  “Shit just got serious: US stock market authorities have been forced to suspend the futures market on the Nasdaq index,” underscores the freaking out. Some other notable posts include “ELI5: Why is there a panic in US stocks?” and “FUCK!!!!!!!!!!!!!

One poster suggests the amount of freaking out demonstrates the failure of basic economics courses in public school and higher education. The poster writes:

“I know everyone is a newb at some point, but this sub today especially has shown that most people are missing the very basic principals for investing. The fact that so many uninformed people have the ability to buy/sell their 401k/IRA holdings at the click of a button is scary. Add the media hype on top of that and bring on the panic. It is like stealing candy from a baby.”

Simply put, others felt merely screwed:

The fact that small time investors like me couldn’t place orders through ANY brokerage platform this morning really pisses me off. Almost every stock was trading at HUGE discounts; big banks and institutional investors are sucking up blue chip companies like its Black Friday. Meanwhile I’m sitting at my computer looking at freaking error messages and eventually get my order executed 4 HOURS LATER when the market is flat. I’m not a conspiracy theorist but a surefire way to dishearten the larger investing public is to exclude them from a market flash sale intended only for big money firms on wall street. The stock market is supposed to be the beacon for free market capitalism and what happened today felt like the exact opposite.

Other posts focused on the positive sides of the stock market crash. One user was curious what to buy during the dip, an investor who claims to have survived three major crises says now is the time to buy, and a high schooler wished to thank God for the dip.

Why The Stock Market Crash Is Really Good For Donald Trump

Republican presidential candidate Donald Trump took to Twitter to voice his displeasure about the United States’ close ties to China as the Dow plummeted 1,000 at its open on heavy algorithmic trading. 

“As I have long stated, we are so tied in with China and Asia that their markets are now taking the U.S. market down. Get smart U.S.A.” Trump tweeted.

“Markets are crashing – all caused by poor planning and allowing China and Asia to dictate the agenda. This could get very messy! Vote Trump,” he wrote in a separate Tweet. Trump Instagramed a video on the issue.

“I’ve been telling everybody for a long time China’s taking our jobs, they’re taking our money. Be careful, they’ll bring us down. You have to know what you’re doing,” Trump says. “We have nobody that has a clue.”

Unfortunately for everyone who is not a Trump follower – for instance, Deez Nuts supporters – the stock market crashing now is not such a good thing. For Donald Trump and his followers, it could be a very good thing.

Historically, economic uncertainty have allowed what were once radical and fringe personalities to seize considerable power in their country. In 1920s Germany, the government at the time – known as the Weimar Republic – endured unfortunate economic crisis after the Treat of Versailles tasked Germany with paying back all World War I debts.

This ultimately led to the sort of monetary conditions wherein the famous photos of people bringing wheelbarrows full of money to the market for food and other goods. In post-war Italy, Mussolini’s great oratorical skills, the post-war economic crisis ravaging Italy, and an increasing fear of socialism allowed his Fascist Party to lead the Italian government into World War II.

Argentina is familiar with such a history when economic crisis in the 1930s led to a military junta which dominated the country on-and-off until the 1970s.

In Nazi Germany, history generally explains that Hitler did improve the economy when he came to power in 1933. The following 5 years were a time of economic growth and numerous state run programs were designed to ease the economic burden on everyday Germans. Many people in Germany  viewed Hitler as the one who could save them from the turmoil of the previous decade+. Some think the same of Trump:

Trump took to Instagram to voice his warning:

Depression- be careful of China!

A video posted by Donald J. Trump (@realdonaldtrump) on

Michael Snyder Warns The World: “Buckle up – we have got quite a bumpy ride ahead of us.”

The Economic Collapse Blog’s Michael Snyder was kind enough to answer some of GoldSilverBitcoin’s questions. In the following written interview you will read about Snyder’s predictions for the coming months and years.

GSB:24 nations are currently facing a debt crisis. How unprecedented is this in the history of the world?

M: Right now, global debt is at an all-time high. When you add up all forms of debt, the debt to GDP ratio for the entire planet has reached a staggering 286 percent. We have never seen anything like this before, and anyone that is not entirely blind can see that this is going to end very, very tragically.

GSB: Is it hyperbole to say that Germany is taking over Greece?

M: I think that it is more complicated than that.  There are some very powerful forces in Europe that are not satisfied with the status quo.  I expect that we are going to see some dramatic things happen in Europe very soon, but the end result will be a Europe that is much more centralized and much more integrated.

Do people underestimate the potential for contagion from the second largest stock market in the world, China, to the US?

Definitely.  The global financial system is more interconnected than it ever has been before, and just like we witnessed in 2008, when one area of the planet starts to feel immense pain the entire world will eventually.

But I don’t think that China is the big story.  Watch the big banks in Europe, and once things in Europe begin to unravel watch the U.S. markets very closely.

GSB: Is Puerto Rico the US’s Greece?

M: You could definitely say that, and the crisis in Europe is going to hit some players in the U.S. pretty hard, but in the end Puerto Rico is not that significant.  It is just another symptom of a much bigger global debt problem.

Why is it significant that shadow banking assets are greater than traditional banks?

The reason why it is so important is because the shadow banks are largely unregulated.  They have been running around doing absolutely crazy things, but because they are not really regulated much their behavior has gone under the radar pretty much.

But when this next great financial crisis erupts, we are going to hear a lot about them.  They play a critical role in the flow of money around the world, and once they start imploding it is going to cause tremendous problems.

GSB: Why is your new documentary, Economic Collapse, World War III & The Death Of America, so important?

M: In that DVD, I address some things that I have never addressed publicly before.  Sometimes people may read my articles and come away with the impression that I am not revealing everything that I know.  And that is 100 percent accurate.  As with so many things in life, timing is everything.  There are some things that were not meant to be revealed yet, and there are still many things that are not meant to be revealed.  But in this DVD, I have gone further than I have ever gone before.  Many that are familiar with my work are going to be absolutely stunned by what I have to say about the future of America.  Over the course of two hours, I lay out the most comprehensive roadmap of what I believe the coming years will bring that I have ever come across.  The material that I cover is for those that are truly interested in “taking the red pill” and going quite a bit further “down the rabbit hole”.

GSB: What else are you keeping your eye on currently?

M: On June 25th, I released an article entitled “The Economic Collapse Blog Has Issued A Red Alert For The Last Six Months Of 2015”.  This is the first time that I have ever done anything like this.  I believe that a major financial collapse is imminent.

When I say “imminent”, I do not mean that I believe that it is coming within the next couple of weeks.  And I do not mean that it will be over by the time 2016 arrives.  But what I am saying is that we are right on the verge of a 2008-style financial collapse, and that it will eventually turn out to be much worse than 2008.

I believe that we are entering a time unlike anything that any of us have ever experienced before.  The debt-fueled prosperity that we have all been enjoying is ending, and now a lot of pain is on the way.  That is why my new book is entitled “Get Prepared NOW”.  I put an emphasis on the word NOW because I don’t believe that there will be a chance to prepare for the coming crisis later.

I know that the relative calm of the last few years has lulled a lot of people into a false sense of security.

But none of our underlying problems have been fixed.

Instead, they have gotten much, much worse.

If I am right, the months ahead of us are going to be very chaotic and events are going to start accelerating greatly.

So buckle up – we have got quite a bumpy ride ahead of us.

 

Paul Krugman: “Debt Is Good For The Economy”

In his most recent post at the New York Times Paul Krugman submits that debt is good for the economy. He posts in response to Rand Paul who posted on his Twitter account that,  “The last time the United States was debt free was 1835.” Krugman then lays out the case for why debt is good.

“The British government, by the way, has been in debt for more than three centuries, an era spanning the Industrial Revolution, victory over Napoleon, and more,” he writes. He goes on:

Believe it or not, many economists argue that the economy needs a sufficient amount of public debt out there to function well. And how much is sufficient? Maybe more than we currently have. That is, there’s a reasonable argument to be made that part of what ails the world economy right now is that governments aren’t deep enough in debt.

Krugman admits that might sound a bit crazy considering the fiscal panics we endure often “with all the Very Serious People declaring that we must slash deficits and reduce debt now now now or we’ll turn into Greece, Greece I tell you.”  In the end, Krugman believes all of the focus on debt is unfounded:

In other words, the great debt panic that warped the U.S. political scene from 2010 to 2012, and still dominates economic discussion in Britain and the eurozone, was even more wrongheaded than those of us in the anti-austerity camp realized.

Not only were governments that listened to the fiscal scolds kicking the economy when it was down, prolonging the slump; not only were they slashing public investment at the very moment bond investors were practically pleading with them to spend more; they may have been setting us up for future crises.

And the ironic thing is that these foolish policies, and all the human suffering they created, were sold with appeals to prudence and fiscal responsibility.

The NSA Probably Didn’t Invent Bitcoin

A common hypothesis submitted by members of the bitcoin community argues that the National Security Agency (NSA), or some other government alphabet agency, invented bitcoin. Many bitcoiners laugh this suggestion off as “impossible,” but, on the contrary, there is precedent for such an assertion. But, that doesn’t make it true…

It’s not as if the government or its agencies have never invented technology. In particular, the US defense industries, dubbed by Dwight D. Eisenhower as the “military-industrial complex.” Government research – generally conducted by the military or intelligence complexes and academia – has resulted in some of the most compelling technologies of our age, including the internet. The Tor project (the anonymous online network) was created by DARPA (Defense Advanced Research Projects Agency) and currently receives 80% of their funding from the US Government.

An NSA paper, written in 1996 and entitled “How To Make A Mint: The Cryptography of Anonymous Electronic Cash”, represents an interesting anecdote in the history of crypto-currencies and government agency. Here is the table of contents of the document:

CONTENTS

INTRODUCTION

1. WHAT IS ELECTRONIC CASH?

1.1 Electronic Payment

1.2 Security of Electronic Payments

1.3 Electronic Cash

1.4 Multiple Spending

2. A CRYPTOGRAPHIC DESCRIPTION

2.1 Public-Key Cryptographic Tools

2.2 A Simplified Electronic Cash Protocol

2.3 Untraceable Electronic Payments

2.4 A Basic Electronic Cash Protocol

3. PROPOSED OFF-LINE IMPLEMENTATIONS

3.1 Including Identifying Information

3.2 Authentication and Signature Techniques

3.3 Summary of Proposed Implementations

4. OPTIONAL FEATURES OF OFF-LINE CASH

4. 1 Transferability

4.2 Divisibility

5. SECURITY ISSUES

5.1 Multiple Spending Prevention

5.2 Wallet Observers

5.3 Security Failures

5.4 Restoring Traceability

CONCLUSION

REFERENCES

The report does not exactly describe bitcoin, with key differences in the NSA researchers envisaging, in 1996, how a crypto-currency would work, and what bitcoin is today. It does accurately pinpoint the abuse such a medium of exchange could endure, and which bitcoin solves; that is, double-spending.

Tatsuaki Okamoto, one of the referenced authors at the bottom of this report by the NSA’s cryptology division, has been of particular interest to bitcoiners investigating what’s possibly the newest age-old question: “Who is Satoshi Nakamoto?” Many bitcoiners have highlighted that this person’s name is very similar to that of Satoshi Nakamoto, the alleged inventor of bitcoin. Mr. Okamoto wrote a paper entitled “An Efficient Divisible Electronic Cash Scheme“, leading many people to suggest that perhaps this individual is Satoshi Nakamoto indeed.  By the time this paper had been written, the general consensus that an “electronic currency” would enable a user to withdraw these coins from a bank or other centralized institution. Even the above-mentioned NSA paper makes the same assumption. Obviously, this is not how Bitcoin functions. At this point a direct connection between Okamoto, the NSA and bitcoin eludes any diligent researcher. But circumstantial evidence remains. For instance, the Wikipedia page for Sha-1, of which sha-256 is a function (the hash function used by bitcoin), explains the hash functions origin:

In cryptography, SHA-1 is a cryptographic hash function designed by the United States National Security Agency and published by the United States NIST as a U.S. Federal Information Processing Standard. SHA stands for “secure hash algorithm”. The four SHA algorithms are structured differently and are distinguished as SHA-0, SHA-1, SHA-2, and SHA-3. SHA-1 is very similar to SHA-0, but corrects an error in the original SHA hash specification that led to significant weaknesses. The SHA-0 algorithm was not adopted by many applications. SHA-2 on the other hand significantly differs from the SHA-1 hash function.

Other stories online seeking to connect bitcoin with intelligence agencies evokes In-Q-Tel. According to Wikipedia:

In-Q-Tel… is a not-for-profit venture capital firm that invests in high-tech companies for the sole purpose of keeping the Central Intelligence Agency, and other intelligence agencies, equipped with the latest in information technology in support of United States intelligence capability.

A basic premise of individuals holding the belief that bitcoin was created by a government agency is that bitcoin was created as an pseudonymous currency, passed on as an anonymous currency, for the sole purpose of tracking criminals attempting to launder money. Towards this end of tracking criminals, In-Q-Tel exists, making it a prime suspect to invest in bitcoin related startups if indeed bitcoin were a law enforcement project.

But, the most in-depth connection between In-Q-Tel and bitcoin is via Google, a by-no-means-whatsoever concrete affiliation. Google’s connection to In-Q-Tel is not public. But, in 2006, ex-CIA officer Robert David Steele told Home Security Today that Google “has been taking money and direction for elements of the US Intelligence Community, including the Office of Research and Development at the Central Intelligence Agency, In-Q-Tel, and in all probability, both the National Security Agency (NSA) and the Army’s Intelligence and Security Command.”

The year before In-Q-Tel sold more than 5,000 shares of Google stock. In 2010 Google announced it was working directly with the National Security Agency so as to secure its electronic assets. Also in 2010 Wired reported that In-Q-Tel and Google had jointly provided venture capital funding to Recorded Future Inc, a temporal analytics search engine company that analyzes tens of thousands of web sources in order to predict trends and events.

But Google has itself not yet invested in bitcoin. The conglomerate does not accept bitcoin for any of its products or services. What’s more, it has invested in alternative digital currencies other than bitcoin.

Paltry is the evidence regarding the claim that a government agency is directly responsible for bitcoin. Instead, what’s more likely, is that government researchers and the possible player or players referred to as “Satoshi Nakamoto” attended similar gatherings and perhaps shared acquaintances. Before the arrival of bitcoin, at the very beginning of this new century, financial cryptology conferences were not well attended but by perhaps twenty people. Attendees at these conferences might give us an idea into the minds participating in a dialogue that ultimately led to bitcoin. With this said, it is entirely possible still that Satoshi Nakamoto’s experiences outside this clique saved him from many of the fallacies early researchers internalized, such as centralized “banks” for the “electronic currency.”

All-in-all, those who claim bitcoin was designed by “The Man” do not have adequate proof.

 

$4.5 Million In Gold Coins Found 10-15 Feet Off Florida Beach

Treasure hunters discovered $4.5 million in gold coins off the Florida coast last month, including several which were minted for the king of Spain, Philip V, in the early 1700s, according to Florida Today

The July 30 and 31 finds were made off the coast of Vero Beach were not announced until Wednesday by Bret Brisben, captain of the S/V Capitana. Brisben and his crew claimed to have found 350 gold coins, nine of which – called Royals – are worth $300,000 each.

The coins were aboard the 1715 Fleet shipwreck. Their discovery was made on the 300th anniversary of that July 30, 1715 tragedy. An entire fleet of 11 ships were lost when they were traveling from Havana to Spain after it got swept up in hurricane conditions. More than 1,000 people perished in the tragedy.

“It’s been magical,” Brisben told CBS This Morning. “What’s amazing about this is we found it on the actual anniversary. We found over 230 gold coins on the 30th, and the hurricane started on the evening of the 30th (in 1715).” Brisben knows everyone loves treasure stories.

“It resonates with everybody — every demographic, young and old, rich and poor,” Brisben told the newspaper. “People freak out that we’re literally 10-15 feet off the beach in 2-3 feet of water.”

The State of Florida is entitled to 20% of the recovered artifacts in order to display in its Tallahassee Museum. Brisben’s most recent discovery comes but one month after a subcontractor of his, Eric Schmitt, discovered 52 gold coins worth in excess of $1 million. Schmitt discovered the gold just 150 feet off the coast of Fort Pierce Florida, according to the Orlando Sentinel.

A Lost Nazi Gold Train Might Have Just Turned Up In Poland

A “finders claim” has been filed in a district council in Poland for an “armoured train” carrying precious metals onboard. Many have speculated this is a so-called Nazi “ghost train” which was carrying the spoils of the Second World War. In the final days of that War, the train reportedly went missing.  

Filed in the south-west Polish town of Walbrzych, local media reports write the claimants, who are Polish and German, have claimed to find a 500-foot long “armoured train” with artillery platforms and is carrying “precious metals.”

NaziGold

Soldiers inspect Nazi gold after the War. Getty Images

Under Polish law people who find treasure can keep 10 percent of the value of their find. The historical account of the train states that Nazis loaded the train with gold and other treasure as the Red Army advanced on the city of Wroclaw. The train went south west.

“Lawyers, the army, the police and the fire brigade are dealing with this,”  an official at the Walbrzych district council, Marika Tokarska, told Reuters. “The area has never been excavated before and we don’t know what we might find.”

“In the region we actually two gold train stories,” Joanna Lamparska, local historian, told Radio Wroclaw. “One is supposed to be under a mountain and the other somewhere around Walbrzych.

“But no one has ever seen documentary evidence confirming the existence of such trains.”

Roger Ver Weighs In On The Block Size Debate

Roger Ver weighed in over the potential increase in the Bitcoin block size today. He noted his deep respect for people from each perspective on the issue, and lamented the censorship seen on certain Bitcoin forums.

“Censorship is never the answer,” Ver noted.

Bitcoin’s ability to “resist financial censorship” is what first attracted Ver to Bitcoin. He implores the Bitcoin community in his note, posted on his website http://bitcoin.com, not to censor itself.

“Currently, many people seem to be under the false impression that bigger blocks mean fewer full nodes on the Bitcoin network, leading to more centralization, and a higher likelihood of governments being able to subvert, censor, or otherwise control Bitcoin,” Ver wrote. This is not the way Ver sees it.

“If this were true,  I would certainly oppose any increase to the block size, but I think this is clearly wrong for several reasons.” One of Ver’s main reasons for using Bitcoin XT is to increase the block size limit to 8MB. This means “room for eight times as many Bitcoin users, so that would mean up to at least 48M users from the current estimated 6M,” the Bitcoin investor wrote.

“…It should be clear to everyone that bigger blocks will likely mean more full nodes around the world,  and therefore more decentralization, not less.  This will make Bitcoin even more difficult to control, censor, or be stopped by anyone, including governments.”

Roger Ver responded to questions and comments in the article section of the until the publishing of this article. The full article can be read here.

BitPay Launches New Refund & Invoice Functions

BitPay introduced this week an update to their backend which will make it easier for Bitcoin accepting merchants using the BitPay platform to accept payments. In 2011, as BitPay became the world’s first Bitcoin payment processor, there were many features that merchants using the service wanted and needed in order to have more control over their e-commerce business.

Yesterday the firm introduced an improvement to its platform, enabling BitPay merchants to initiate refunds and adjust invoices through their merchant dashboard.

Users can now adjust overpaid/underpaid invoices, as well as initiate total or partial refunds.

“This makes our merchants more self-reliant, accelerates the refund process, and provides a better customer support experience,” the firm wrote in a blog post on its website.

The old way of doing this on the BitPay platform was reaching out to customer service, a tedious process for any busy business owner, and also now-and-then irksome to some customers.

BitPay invoices will now feature a notes section complete with details about the invoice. Users taking advantage of BitPay’s payment protocol wallet will find the refund process extremely easy.

“Partial refunds can also be initiated through the dashboard and give more flexibility to handle overpayments, offer discounts, or retain restocking fees,” wrote BitPay.

If you have comments on BitPay’s changes, you can discuss on their forums at BitPay Labs. The payment processing firm has further plans on the horizon.

“We look forward to releasing more product improvements in the following months.”

Fidor Bank CEO Says Bitcoin Is a “natural part of digital lifestyle”

CEO of Fidor Bank of Germany, Matthias Kröner, has long been a supporter of Bitcoin. In recent comments to IBTimes, the CEO said that Bitcoin is the “natural part of digital lifestyle.” Fidor Bank, he also said, is opening in the United Kingdom this year. This means that people interested in Bitcoin in UK will find it easier than ever to use, especially with a forthcoming exchange set to be launched by Fidor soon.

“When we approach an issue we ask ourselves, ‘why can’t this be done any better’, or ‘is that really the final solution’, or if there is a segment like the crypto issue, ‘why is this not being executed by a normal bank?'” Kröner said.

Bitcoin regulations – or lack thereof – have been a problem even for Kröner who mentions that regulations in Germany are unclear and that he himself has been a proponent of Bitcoin to politicians. He has not necessarily succeeded in this capacity, criticizing politicians and calling them “the biggest local disadvantage.” Unlike many Bitcoiners, he does not value anonymity more than some of Bitcoin’s other features.

“I definitely do not understand the fundamentalists in the crypto environment saying that anonymity or anonymous status is kind of sacred heaven. I want to know who potentially wants to fool me.” For him, Bitcoin has a long way to still go to achieve mainstream appeal, and he knows his bank can lead the way.

“I know that this an uphill struggle. From my perspective, having a full European banking licence, I’m definitely defending this line saying, you need to regulate this – in a constructive way.

“If it’s unregulated, this is a grey market, and grey markets are always negative. You have to legalise it; banning is not an option.”

The German bank has operated with a full European banking license since 2009. It plans to launch a Bitcoin exchange, called “Bitcoin Express,” which will allow users to buy and sell bitcoin instantly on its partner exchange, bitcoin.de. Fidor bank also has a partnership with Kraken in the USA.

Venezuela May Sell Gold According To Major Bank

Citibank has stated that Venezuela could sell gold reserves to raise funds for the struggling country. David B. Wilson and Aakash Doshi wrote the report.

“Cash-strapped nations could trigger further downside price risk as the temptation to sell gold reserves mounts,” the analysts said in the Aug. 18 report. “Venezuela is one such country at risk.”  Crude oil prices have hurt Venezuela, which receives over 95% of its export revenues from oil.

Earlier this year the country did sell off some of its gold reserves. In March Venezuela was declared a National Security threat by President Obama. With new sanctions on certain officials, China would no longer be able to fund Venezuela. And so Reuters reported that Venezuela’s central bank was in talks of creating a gold swap to monetize $1.5 billion of the metal. That caused the gold price to fall. Venezuela leader Hugo Chavez had put most of the country’s money into gold.

Silver Is Secret Ingredient In Anti-Radiation Underwear

‘This covers the entire range of radiation emitted by wireless devices, from voice and text through to 4G and Wi-Fi – almost everything is blocked…’ – inventor Joseph Perkins
Silver is one of the most reflective metals on the planet. The precious metal has many uses, including as a conductor of energy and even anti-bacterial functions. We can add one more to this list of uses for silver: radiation protection.

This so-called “smart underwear” protects male fertility from radiation emitted by modern electronic such as smartphones and laptops. Designed by a British scientist, the pants were called “underpants for superheroes” by Sir Richard Branson. A pure silver mesh has been woven into the fabric of the Wireless Armour underwear

The pants reportedly protect against 99.9 percent of electromagnetic radiation emitted from modern electronics, tablets and laptops. These devices have been linked to fertility problems by scientists.

It shields against 99.9 per cent of electromagnetic radiation, which is emitted from devices such as smartphones, tablets and laptops, and has been linked to fertility problems by scientists.

“Like so many people, my smartphone and laptop use has increased dramatically in recent years, which made me realise that I was exposing myself to large amounts of electromagnetic radiation, mostly centred on my groin,” inventor Joseph Perkins said. “With my physics background I knew there must be a way to shield from electromagnetic radiation using a simple solution.” Perkins got to work.

“Wireless Armour has been tested by an industry leader in wireless shielding and the results show that our fabric shields against 99.9 per cent of the radiation emitted between 100MHz to 2.6GHz.

“Put simply, this covers the entire range of radiation emitted by wireless devices, from voice and text through to 4G and Wi-Fi – almost everything is blocked.”

Photo: Wireless Armour/PA

Will Tesla’s Home-Based Battery Use Silver?

In this day and age, energy comes from wind, water, sun and from geothermal forces below the surface of the planet. How to store that energy and transport it becomes more difficult. Oil is transportable and has a long shelf-life, making it a favorite option.

Elon Musk’s plan to bring a Tesla battery to homes and offices, the Powerwall, is a battery in 7 or 10 kilowatt-hour sizes. Tesla plans a battery for bigger operation with a 100 kWh unit named the Powerpack. The Powerwall can pull power from the grid during off-peak hours. Read More