- THE EMERGENCE OF A NEW MARKET, FROM FED-MONOPLY TO TRUMP COMPETITION.
- WHY ISN'T GOLD BEING CRUSHED WHEN STOCKS RISE?
- SOMETHING NEW IS TAKING PLAC E:
- THE FED (BEAR/BULL) TRIGGER MONOPOLY IS BEING CHALLENGED BY THE TRUMP (BEAR/BULL) TRIGGER.
- BOTH CRYPTOS AND GOLD MAY BE RESTORED INTO MARKET ECONOMY AND MANIPULATIONS BY CENTRAL BANKSMAY BE DEFEATED.
- THE DEEP STATE'S PONZI SCHEME IS BEING PUSHED INTO THE SWAMP, BOTH BY PATRIOTS AND MARKET FORCES.
World's First Licensed Crypto Bank Seen As Game
The co-founders of Sygnum crypto bank have hailed the award of a Swiss banking license as a game changer that could open the floodgates to the integration of cryptocurrencies
“This is the first time such licenses have been granted worldwide, so Switzerland is playing a pioneering role,” Manuel Krieger, CEO of Sygnum Switzerland, told swissinfo. ch
“This has positive implications for Switzerland and distributed ledger technology [the blockchain cryptocurrencies
“will come out of the shadows if dealing with these assets can be done in a 100% compliant manner upholding all the rules that a strict regulator demands. That is a game changer,” he added. Cryptocurrencies
Global reputation
Switzerland has been one of the leading players in the global adoption of tokenised
It is one of the reasons that Facebook decided to house its Libra cryptocurrency start-ups
Until now, the crypto asset sector had failed to completely convince the Swiss Financial Market Supervisory Authority (FINMAexternal link) that it could safely and reliably integrate the worlds of crypto and mainstream finance.
The benefits of tokenising
Critical voices
“DLT has potential to make whole financial infrastructure more stable and robust,” said Krieger.
As with all new technologies untested on a large scale, there are doubters. Cryptocurrencies bitcoin for rulesexternal
The United States is leading a host of critical voices against Facebook’s Libra project, fearing it will snatch away control of the monetary system. Institutions like the Bank for International Settlements have also highlighted concerns about cryptocurrenciesexternal
Others worry that a “magical” digital book keeping
But despite the doubters, Switzerland appears determined to keep ahead of the game. Part of the reason, as Imbach lays out, is the fear of falling behind international competitors.
“Other countries, like Liechtenstein and Luxembourg have also taken steps towards adopting DLT [although they have not yet licensed a dedicated crypto bank]. It is crucial for Switzerland to at least remain at par with them.”
Additionally, Sygnum is in talks with local regulators to seal a banking license in Singapore,
INSIDER TRADING: TRUMP'S BEAR/BULL BUTTON READS, TRADE WARS, IMPORT DUTIES, BOYCOTTS, SANCTIONS, BLOCKADES, WHILE THE OLD FED BEAR/BULL BUTTON STILL READS BENCHMARK RATE, YIELDS, QE.
INSIDER TRADING: TRUMP'S BEAR/BULL BUTTON READS, TRADE WARS, IMPORT DUTIES, BOYCOTTS, SANCTIONS, BLOCKADES, WHILE THE OLD FED BEAR/BULL BUTTON STILL READS BENCHMARK RATE, YIELDS, QE.
Trump Made Up "High Level Phone Calls" With China To Boost Markets, Aides Admit: Report
Just before Europe opened on Monday morning, with US equity futures tumbling below 2,800 and the Chinese yuan in freefall after a tense weekend in which traders stewed over the latest trade war escalations and rushed to sell, algos sent risk surging following a statement by President Trump in Biarritz, France, that "China called last night" and said they want to resume trade talks, later elaborating that two "high-level" Chinese officials had called to try and restart stalled negotiations. He turned to Treasury Secretary Steven Mnuchin for backup, and Mnuchin said there had been "communication," later amending it to "communications."
Almost immediately, China denied that any phone call had taken place, insinuating that Trump had made up the entire event - ostensibly to avoid a market landslide, and if so, Trump indeed achieved his goal: in the span of seconds, the market mood changed, and stocks surged on Monday, and have continued their ascent higher on the assumption that sentiment in the trade war had shifted. The reality, of course, is that there was little doubt as to whether a phone call had ever taken place. It hadn't.
And now, according to a CNN report, White House aides "conceded the phone calls Trump described didn't happen they way he said they did," and "instead, two officials said Trump was eager to project optimism that might boost markets, and conflated comments from China's vice premier with direct communication from the Chinese," precisely as we said had likely happened on Monday morning.
Trump has become increasingly concerned about the market's inability to rise comfortably above 3,000 and is agitated, CNN reports, because "the economy is flashing warning signs Trump didn't expect, his trade war with China is dragging on months longer than expected yet he refuses to give in," and he's "spinning to find victories to sell to voters."
For now, Trump is enjoying an S&P that remains just a few percent below its all time highs. But what happens once algos realize that Trump will say any lie just to push risk assets higher? And is that why bond yields continue to grind to new all time lows, because while stocks may be fooled by Trump's lies, bonds know that the more Trump tries to push stocks higher, the greater the fall in risk assets will be.
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