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Despite What You Don't Hear In The Media, It's ALL OUT (Currency) WAR! Pt. 1

Reggie Middleton's picture




 

The premise of this book is that Western countries are ultimately controlled by a group of private banks, which, according to the book, runs their central banks. This book uses the claim that the Federal Reserve is a private body to support its role. The book's author correctly predicted a banking crisis in the US in 2008. More than one million copies of this book have been sold.

I've finally been convinced to manage others' money. This series of postsl outline my investment thesis going in .


The world is at war, yet it's citizens don't even know it!

First, a backgrounder, as excerpted from Wikipedia:

Currency war, also known as competitive devaluation, is a condition in international affairs where countries compete against each other to achieve a relatively low exchange rate for their own currency. As the price to buy a particular currency falls so too does the real price of exports from the country. Imports become more expensive. So domestic industry, and thus employment, receives a boost in demand from both domestic and foreign markets. However, the price increase for imports can harm citizens' purchasing power. The policy can also trigger retaliatory action by other countries which in turn can lead to a general decline in international trade, harming all countries.

... currency war broke out in the 1930s. As countries abandoned the Gold Standard during the Great Depression, they used currency devaluations to stimulate their economies. Since this effectively pushes unemployment overseas, trading partners quickly retaliated with their own devaluations. The period is considered to have been an adverse situation for all concerned, as unpredictable changes in exchange rates reduced overall international trade.

... States engaging in competitive devaluation since 2010 have used a mix of policy tools, including direct government intervention, the imposition of capital controls, and, indirectly, quantitative easing. While many countries experienced undesirable upward pressure on their exchange rates and took part in the ongoing arguments, the most notable dimension of the 2010–11 episode was the rhetorical conflict between the United States and China over the valuation of the yuan. In January 2013, measures announced by Japan which were expected to devalue its currency sparked concern of a possible second 21st century currency war breaking out, this time with the principal source of tension being not China versus the US, but Japan versus the Eurozone.

... when a country is suffering from high unemployment or wishes to pursue a policy of export-led growth, a lower exchange rate can be seen as advantageous.

...  Devaluation can be seen as an attractive solution to unemployment when other options, like increased public spending, are ruled out due to high public debt, or when a country has a balance of payments deficit which a devaluation would help correct. A reason for preferring devaluation common among emerging economies is that maintaining a relatively low exchange rate helps them build up foreign exchange reserves, which can protect against future financial crises.[4][5][6]

Of course, it seems to be lost on many that competitive devaluations (currency war) only really works for strong net export nations such as China, Japan, Germany and the US. If you are highly reliant on imports vs. exports and try to become a currency warrior then the Marshall–Lerner condition will likely occur. Best case scenario you get a significant lag in true economic benefits, likely scenario... You just piss off your neighbors and lose economic benefit as the higher price of your imports simply outweight the internal generation of economic activity and exports. After all, if you buy more than you sell, why raise the price of your purchases?

The Three Methods of Currency Manipulation

Countries and their central banks can:

Buy and sell currencies in the open market. This takes horsepower. Just ask the Swiss National Bank whose balance sheet swelled 3x in 2 years - and that's before the ECB QE announcement (which would have easily doubled the pressure, if not more). If you want to move upscale, ask the Bank of England after their conversation with Soros, et. al.

... Black Wednesday refers to 16 September 1992 when the British Conservative government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism (ERM) after it was unable to keep the pound above its agreed lower limit in the ERM. George Soros, the most high profile of the currency market investors, made over 1 billion GBP[1] profit by short selling sterling.

In 1997 the UK Treasury estimated the cost of Black Wednesday at £3.4 billion, with other sources giving estimates as high as £27 billion. In 2005 documents released under theFreedom of Information Act revealed that the actual cost may have been £3.3 billion.[2]

The trading losses in August and September were estimated at £800 million, but the main loss to taxpayers arose because the devaluation could have made them a profit. The papers show that if the government had maintained $24 billion foreign currency reserves and the pound had fallen by the same amount, the UK would have made a £2.4 billion profit on sterling's devaluation.[3] Newspapers also revealed that the Treasury spent £27 billion of reserves in propping up the pound.

If you haven't picked up on the theme yet, this central bank buying currencies in an attempt to over power the markets (dirty float) stuff really just doesn't work. Over time, mother market takes charge and extracts one hell of a price in return.

Central banks can also just attempt to talk rates down or up. I'll not waste anymore words on this as CBs around the world have lost creditiblity. Talk is cheap!

Lastly, and this is the kicker, banks can engage in quantitative easing (QE). QE is essentially the injection of money into the economy by openly purchasing public and private assets, oftentimes dead assets that no private entity would touch with a ten foot pole. The PC way of putting it is this is creating money, but more aptly put this bailing out failed institutions by creating a market for things that the actual market has priced at, or close to, economically nothing. This practice was invented by the Japanese, and it didn't work! Do you guys remember the 26 year lost decade? It's not that hard to rememer since, although it started in 1990, it's still ongoing. That's Japanese central banker math for you. As per Wikipedia:

The Lost Decade or the Lost 10 Years(????10? Ushinawareta J?nen?) is the time after the Japanese asset price bubble's collapse within theJapanese economy. The term originally referred to the years from 1991 to 2000,[1] but recently the decade from 2001 to 2010 is often included,[2] so that the whole period of the 1990s to the present is referred to as the Lost Two Decades or the Lost 20 Years (????20?, Ushinawareta Nij?nen). Over the period of 1995 to 2007, GDP fell from $5.33 to $4.36 trillion in nominal terms,[3] real wages fell around 5%,[4] while the country experienced a stagnant price level.[5] While there is some debate on the extent and measurement of Japan's setbacks,[6][7] the economic effect of the Lost Decade is well established and Japanese policymakers continue to grapple with its consequences.

Now, there are some who said Japan did start recovering earlier, but they used the very malleable (in terms of definition) GDP numbers to prove their point. Asset values didn't back the story...

Japan lost decade

QE was taken to the next level by the only central bank that I know of that is actually owned by, and controlled by, a coterie of private, for profit, publicly traded banks. It is also the most powerful central bank in the world, bar none. Here's a hint...

Between QE1/2/3, the Fed has injected well over $3 trillion dollars and has exploded its balance sheet both in terms of size and composition...

Despite many proclamations that things are getting better, the Fed has increased its purchases of both MBS (the housing market's financial underpinnings are still in trouble of the Fed wouldn't be doing this) and US Treasury securities (the treasury issues the securities to fund the US and the Fed creates money and buys them - as wel all know, we are financing our credit cards with newly acquired credit cards). It is the Fed that ISthis country (US), almost literally with a balance sheet that is over 25% of the US GDP. Remember who owns the Fed? Well, if you do you realize why the ECB is doing this QE thing to the level that it is. Their banks are still in trouble, material trouble. Reference "Ovebanked, Underfunded, and Overly Optimistic: The New Face of Sovereign Europe" from 5 years ago and tell me if you think its gotten better...

 Well, it's all relative. The banks are smaller, leverage is down - and that's after 6 years of global QE, ZIRP and now NIRP, yet each and every bank is big enough to collapse the country that it's domicled in... Global Bank Risk as Determined by Veritaseum

And since the big global banks are so interconnected as they daisychain their hedges and act as counterparties with each other (6 banks hold over 85% of the multi-trillion dollars global derivatives exposure), once one goes down hard, it brings the rest with them. And as you can see from the size of each individual bank relative to their domiciled country, such an event will still drag the countries down with them. 


Okay, now back to this discussion of currency wars, something's got to give. Countries cannot (or at least, have never) successfully pursued all three methods of currency manipulation without failing. According to Wikipedia:

The Impossible trinity (also known as the Trilemma) is a trilemma in international economics which states that it is impossible to have all three of the following at the same time:

    1. fixed exchange rate
    2. Free capital movement (absence of capital controls)
    3. An independent monetary policy

It is both a hypothesis based on the uncovered interest rate parity condition, and a finding from empirical studies where governments that have tried to simultaneously pursue all three goals have failed. 

The Impossible Trinity or "The Trilemma", in which three policy positions are possible. If a nation were to adopt positiona, for example, then it would maintain a fixed exchange rate and allow free capital flows, the consequence of which would be loss of monetary sovereignty.

So, either balance sheets get burned trying to buy and sell currencies, capital controls are implemented, or QE (sovereign monetary policy) fails. All three are likely not going to succeed.

Stay tuned for part two of four of this series in roughly 24 hours. Anyone who wishes to chit-chat can reach me at reggie AT ultra-coin.com. 

 

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Mon, 01/26/2015 - 11:05 | 5706039 forexskin
forexskin's picture

so reggie, i've got a lot more reading to do, but in general, some obvious questions occur, and i wonder if you'd comment.

i cannot view all this without considering (in the broadest macro perspective):

1) posession of the medium of exchange confers power

2) it costs to defend that power over / posession of that medium of exchange

3) the situation we have today is due to the fact that this battle for the power over the medium of exchange has been made more efficient and specialized, and those in contol (to their immense benefit) of this latest iteration of the ancient battle have become nearly unassailable, with virtually no moral impediment to doing whatever they deem necessary to retain this power.

4) those in posession of the power over the medium of exchange are not going to let that power devolve to the masses without a significant battle.

i watched the entire bitcoin episode, and saw it fail partly due to the technical difficulties with blockchain transaction verification, but also saw it fail in the battle for mindspace because it is essentially an alternative that is outside the control of the elite in control of the current dominant medium of exchange.

given the way you work, i'm sure you've thought through all this, including possible downsides to what might be called a theoretical ideal crypto currenty. what are they from your point of view (beyond the obvious), or does that have to wait for the following 3 installments?

thanks again - i like your style.

Mon, 01/26/2015 - 07:37 | 5705396 falak pema
falak pema's picture

I may be old fashioned in my quest for new knowledge.

I welcome RM's comments as he is an original out of box thinker.

And, I hope he'll prove it again in this coming series which I'm sure will benefit us all.

But facts are facts and the the past timeline of Reggie's comments need some clarification if we are to believe his future cogitations are worth following, so here goes :

1° Reggie your take on the French banks and their imminent collapse as front runners of EU fiat crapolia has not panned out. WHY ? Please explain why Paribas still stands on its legs, whereas you said--in 2011/2012-- it could not even meet its liquidity problems let alone its structural imbalances.

Your logic and analysis was very detailed and based on umpteen charts, as you are very factually oriented in your approach. But your extrapolation did not unfold...

2° Your comparison of Google to Apple has not panned out as you predicted. Any comments on this evolution, especially Google's global click to nirvana game model, will be appreciated.

After all, Apple and Google are the corporate TECH role models of the US oligarchy whose WS flagship, the stocks Titanic, floats in fiat pumping and asset levitating troubled waters of awesome dimension and consequence for us all.

Mon, 01/26/2015 - 09:06 | 5705601 Reggie Middleton
Reggie Middleton's picture

The ECB saved them and went to lengths to do so that I ddn't anticipate. That being the case, the can was kicked down the road, it didn't disappear. It is quite possible to save the banks if you drag the nations economy (or in the case of the EU, 17 nations) into the quagmire for an exteneded period of time. It that's the case, instead of a slam bang short on specific names, you get a lesser bang by shorting the broader market. If QE spikes that, there are other tactics to allow one to position.

As for Apple and Google, that went EXACTLY as I told my subscribers, so I have nothing else to say on that topic.

Alas, I'm not a soothsayer, I'm a calculating observer and student of human nature. I don't use crystal balls, I used spreadsheets and common sense. 

Mon, 01/26/2015 - 09:52 | 5705732 falak pema
falak pema's picture

fair enuff and thanks for taking the time RM.

Mon, 01/26/2015 - 02:30 | 5705172 YouThePeople
YouThePeople's picture

Reggie, Reggie, Reggie. I just like chanting something new.

Sun, 01/25/2015 - 22:58 | 5704717 Vendetta
Vendetta's picture

Thanks for your research Reggie.  I had come to the conclusion some time ago it has been a giant currency war that no MSM outlet discusses honestly (or at all). 

Sun, 01/25/2015 - 22:42 | 5704650 rsnoble
rsnoble's picture

All kinds of different wars till the last option war and we all know what that is.

Sun, 01/25/2015 - 22:24 | 5704396 drand02
drand02's picture

Reggie,  I have been on this site for about 5 years. I like most here do not trade for a living and carry a small (hopefully growing) portfolio for that day we retire.  I started really following you in 2010, which folks, if you do a little research on this guy he does not mind nor care if he gets exposed.  His record says he's right lots more than wrong. Out of this ridiculously hard world to find truth, Reggie will at least SHOW you he's truths, let you judge it's good or bad, then predicts his points.  You see all stops of the train and how it works..  I may not agree or I might, I can see every step of the decision.  Thanks for the help in allot of areas including "how to research" and getting the best facts possible.

Now on to thing that always seems simple is now complex.  In times of hardship, if you can not defend your assets and have them physically available, think land hardware, food, and friends.  Anything else is hard to defend including something that can disappear by turning off electricity.  It's like the bank closes and doesn't reopen. How can you get something that is not physical for in tragedy, I can't defend property owned in Colorado if I in live in Florida.  I cannot defend any paper with promises.  If I cannot get into the vault, I cannot use it.  That's the problem I have with electric money.  There I showed how ignorant I probably am.

Mon, 01/26/2015 - 03:57 | 5704854 TeethVillage88s
TeethVillage88s's picture

Any advice is appreciated since I am not in the markets or an investor at this point.

Three Strategies from article:

- Buy and sell currencies in the open market.
- Central banks can just talk rates down or up.
- banks can engage in quantitative easing (QE).

That is monetary expansion. But we have Fiscal Expansion too as a fourth way of effecting the price of our USD.

Clearly each administration most demonstrate it's power, status, success, and military-economic expertise. It must lead with ethics, morals, values & strength that everyone can see. This makes associations with Hollywood (R. Reagan) and gays (B. Obama) difficult with conservatives.

"The Impossible trinity" seems like "Gaslighting" Meme to me.

Where is money created out of thin air?

- Federal Spending
- FED Spending
- US State & National Banks
- Wall Street Banks, Shadow Banking, Fictitious Accounting

I Posit that Wall Street creates money out of this air and even manipulates the value of assets to rehypothicate in a Felonious & Systemic Scheme. in 20088-2009 we heard Wall Street was Rehypothicating at 40:1, an average no doubt, or a low number.

- What is the Truth?
- How Secure are the US Financial Markets?
- Do we have standard accounting & financial instruments?
- Is Fraud in Finance Vigorously Pursued?

Who tracks where money is created? Where are the Reports on where the money goes, who ends up with the assets of loans, how much of loans or rehypothication adds to the economy, to jobs, to quality money activity, to enhancing our fiat, to adding value to the US Dollar, and to enabling our people and adding wealth to our retirements for the middle class...?

------------------------------------------------------------
--- Or Is the Middle Class No Longer a Goal for Congress? -
------------------------------------------------------------

Late Add: Reggie; thanks. I have forwarded some of your work last year. I haven't followed you much though.

The above is an attempt to examine where money is created, where it goes, what it is used for, the degree that it benefits Main Street, ETC. My premise is that Wall Street Creates the most Fiat, and doesn't benefit Labor, Consumers, or Main Street as much as State Banks, Public Banks, or Credit Unions. Why does JPM get to handle EBT Cards for the Federal Government & be a Prime Dealer after the 2008-2014 Financial Crisis, why do we continue to give all our powers to Wall Street Banks who enabled the Secondary Market in Sub-Prime Mortgages/Ninja Mortgages? If we keep giving them all of our power, they will have us all in Debtor prisons and US Dollars will end up off shore as horded loot.
---------------------
It is call Piracy --
---------------------

Last count was $1.7 Quadrillion in Global Derivatives from Depository Trust Clearing Corporation.

https://en.wikipedia.org/wiki/Depository_Trust_%26_Clearing_Corporation

Sun, 01/25/2015 - 20:36 | 5704196 HardAssets
HardAssets's picture

Agree or disagree with him, it's refreshing to read a guy willing to come here in the comments section and defend his views vigorously.

Sun, 01/25/2015 - 19:29 | 5703917 GCT
GCT's picture

Reggie welcome back. 

Been a following you for a long time.  Good article for me anyway.   I learn here on a daily basis.  From the articles and comments, well the ones that are not dissing everyone and everything.  Tell me Reggie if you come back here today, The Greek Syriza party has won.  The Greek bank runs are denominated in the Greek Euro.  If Syriza actually decides to tell the Triorka to take a hike and gets the boot from the Euro will their Greek identified Euro still be valid. 

I am only asking this as I have not gotten an answer anywhere else. It seems to me they would be worthless.  But who knows. Of course I do not expect the Greeks to do anything any time soon. 

Sun, 01/25/2015 - 18:55 | 5703788 davey
davey's picture

You people can stack which is great but I prefer gold stocks. It's just exponentially better. And buy the way Regi thanks for your wonderful insight as always

Sun, 01/25/2015 - 18:44 | 5703733 zipit
zipit's picture

What's the update on your Bitcoin project, Reggie?

Sun, 01/25/2015 - 18:40 | 5703714 Greenspazm
Mon, 01/26/2015 - 10:35 | 5705948 commander gruze?
commander gruze?'s picture

Bzzzt-wrong. Bitcoin does not use "proof of stake" algorithm. Try again. Oh, and this short video may help you: https://www.youtube.com/watch?v=yWTQgmCuiCw&t=9

Sun, 01/25/2015 - 17:53 | 5703511 Free_Spirit
Free_Spirit's picture

Hey Reggie, always great to hear your logical and information-loaded understanding man ,  not clear on what you make of the ruble situation though,  as I see it the ruble was the first to fall but others are now catching down with it, narrowing the gap - currencies are all about comparative values.   You're sooo right about the imminent end of that carry trade though. of course those nations with very strong currencies are those in proper deflation, e.g Swiss and Euroland, and also the US, so not actually the strongest and most healthy economies on the globe by any stretch.  Hey be sure to come back on with Max Keiser soon.  

Sun, 01/25/2015 - 23:57 | 5703372 ebworthen
ebworthen's picture

Yo Reggie, you don't have a definition for "Veritaseum" though it is used in the charts.

I agree with you about central bank insanity and the bankster derivative casino betting skullduggery.

Problem being the central banks of the world can print with keystrokes to bail out the banksters at the expense of the populace.  It is shadow theft insofar as the masses do not understand it now that tangible value has been destroyed.

Sun, 01/25/2015 - 17:28 | 5703358 lasvegaspersona
lasvegaspersona's picture

I can't read the first part of the article due to the kanji image,

Sun, 01/25/2015 - 23:32 | 5704669 Wild Theories
Wild Theories's picture

edit: wait I see what you mean, the paragraph on Japan with the quotes, not the first paragraph

it displays some ??? but should still display

Sun, 01/25/2015 - 17:14 | 5703298 Wave-Tech
Wave-Tech's picture

Granted, this article is formatted like shit however, everyone seems to have missed Reggie's opening line...."

"I've finally been convinced to manage others' money. This series of posts outline my investment thesis going in."

Is Reggie starting a hedge fund of sorts?

Sun, 01/25/2015 - 17:54 | 5703510 Reggie Middleton
Reggie Middleton's picture

:-)

Sun, 01/25/2015 - 22:53 | 5704682 Stained Class
Stained Class's picture
I've finally been convinced to manage others' money. REGGIE DON'T DO IT!!!

Are you kidding? How will you be able to focus on the cutting edge "Next Big Thing", or "What the Smart People are Overlooking"? You'll be too busy looking at charts, and worse, watching CNBC.

Trade your own account, dude, and update BoomBustBlog your website for once in 6 months......

Mon, 01/26/2015 - 00:49 | 5705017 Reggie Middleton
Reggie Middleton's picture

All of the last six months of content is on http://ultra-coin.com. How do you think I find out what the next big thing is? By studying and asking questions. I realize that most don't realize what I've been up to this past year. I've created investment bank in the cloud, sans the bank. It's quite exciting. My team and I have replicated the transaction platform (in a much safer, unconflicted, counterparty risk fashion) as P2P software through the blockchain, the advisory section (moi, et. al.) and soon a regulatory approved (hopefully) underwriting function through the cloud as P2P software supported by the blockchain.

I truly believe that this time around tech will bring the banks the way of the record companies circa 2000.

BusinessPlanRedux very hi-res optimization Page 18

Sun, 01/25/2015 - 23:07 | 5704741 Stained Class
Stained Class's picture

Reggie, seriously, that's a bad idea. Your kids will tell you so. If you think that trading from the long side will make you money without risking your own money, think about the mop-up after, its not worth it. MSM is finally focused on stock dividends, MO at noxious-oxide highs (finally) its over, and you know it. 

Really Reggie? You're going to help people short this market? People who don't have a clue to do it on their own?  Ah, I think I just figured you out: Get your new clients LONG, then there will be more people to SELL when the ether wears off...  Go Get 'em Reggie!  You are a brilliant man, I have no doubt you have a brilliant plan. Good luck Mr. Middleton, you're one of the best. -SwingForce (banned).

 

Sun, 01/25/2015 - 17:11 | 5703283 DavyRoySixPack
DavyRoySixPack's picture

Don't buy Reggies coin. Ultracoin was a "fastmine" coin and most of the coins have been "given out" to the developers from what I have read. 

Ultracoin is in the catagory of scamcoin.

 

Reggie, do yourself a favor and start a new Ultracoin with a fair rollout. As cyrpto masses get more educated ... the sillier you are going to look.

 

Sun, 01/25/2015 - 17:52 | 5703504 Reggie Middleton
Reggie Middleton's picture

What are you talking about. I don't have a "coin" to buy and if I did I never offered it up for sale anyway. You dudes really need to read. As I told the other troll above..

"Actually, if you bothered to read, its a "smart contract" ecosytem based on the blockchain. So discussions of gold, colors, coins, papers simply don't apply. Unbeakable promises, no counterparty or credit risk - now were talking..."

You use my system to trade value. You don't "buy" it. You can use it to take positions in anyting mentioned in this article, in any amount from 18 cent to $180 million and denominate it in almost anything.

View the tutorial 

 Veritaseum's UltraCoin Prototype Wallet Quick Tutorial 

and see why banks are looking to adopt it - 

 Why Should Banks Adopt Veritaseum's UltraCoin?


Sun, 01/25/2015 - 22:42 | 5704648 DavyRoySixPack
DavyRoySixPack's picture

I was wrong about this Reggie. You don't have a "coin". This other "Ultracoin" has nothing to do with you. I did buy a bunch of Ethereum which uses contracts.

I am just a low information guy. Its was an honest mistake. 

 

Sun, 01/25/2015 - 22:42 | 5704647 DavyRoySixPack
DavyRoySixPack's picture

I was wrong about this Reggie. You don't have a "coin". This other "Ultracoin" has nothing to do with you. I did buy a bunch of Ethereum which uses contracts.

I am just a low information guy. Its was an honest mistake. 

 

Mon, 01/26/2015 - 00:39 | 5705000 Reggie Middleton
Reggie Middleton's picture

No blood, no foul. Don't worry about it. At least you were man enough to apologize. Here's what the future of money and contracts really looks like, taken from http://ultra-coin.com/index.php/homes/item/79-monetizing-the-spear-that-.... This is UltraCoin in action:

... Can you imagine the margin and collateral calls that are likely occuring right about now. Let's discuss contagtion effect in our next blog post, shall we? This is a price snapshot as of now.

swiss financials after SNB currency debacle

This is how to set up the trade in the UltraCoin client to go long the Swiss Franc in euros and short Allianz equity traded directly on the SWX (Swiss stock exchange)...

Allianz short and long Franc

Mon, 01/26/2015 - 10:12 | 5705800 DavyRoySixPack
DavyRoySixPack's picture

Reggie your a gracious fellow. The myopic understanding of what Bitcoin actually represents is a reflection of where we are with blockchain innovation. The innovation of the blockchain will hopefully become a clearer reality to masses things unfold.

 

The media is looking for soundbites. The blockchain and its implications will reward those who have a dedicated attention span. I am a low tech, low info guy who at least understands that the blockchain is like the invention of the light bulb.

 

I am not a trader with currencies. But I do try to watch what is going on in the markets. Looks like Denmark had to increase their negative interest rate. The Greek situation is quite fluid at the moment. Gold bugs seem to think we will see a slam down before the FOMC, but that gold will catch wings in the next week or two. February looks like firework central ...

 

I bought Ethereum to try and speculate the best way I could with my limited knowledge.

 

I fear for the Greeks though. I see the long arms of the Oligarchy squashing rebellion throughout Europe.

 

Cheers Reggie.

Sun, 01/25/2015 - 22:15 | 5704549 DavyRoySixPack
DavyRoySixPack's picture

I thought you have Ultracoin that is traded on alt-coin markets. I saw a write up on this coin. If this is not your coin -then my mistake and please accept my apology. There is a thread on Bitcoin talk that mentions Ultracoin. Litecoin was also another thatwas mentioned that had a fastmine. 

 

 

Sun, 01/25/2015 - 22:15 | 5704548 DavyRoySixPack
DavyRoySixPack's picture

I thought you have Ultracoin that is traded on alt-coin markets. I saw a write up on this coin. If this is not your coin -then my mistake and please accept my apology. There is a thread on Bitcoin talk that mentions Ultracoin. Litecoin was also another thatwas mentioned that had a fastmine. 

 

 

Sun, 01/25/2015 - 18:44 | 5703744 zipit
zipit's picture

How about doing a video progress report and update, soon, Reggie?  Thks.

Sun, 01/25/2015 - 16:32 | 5703169 Brutlstrudl
Brutlstrudl's picture

THANKS, Reggie!

Sun, 01/25/2015 - 16:12 | 5703087 RaceToTheBottom
RaceToTheBottom's picture

I look forward to reading the next one.  Right now am wondering why this could not be condensed in less than 4 posts, but thanks for writing it.

 

Sun, 01/25/2015 - 16:43 | 5703205 Reggie Middleton
Reggie Middleton's picture

I'm in the process of putting some blackswan positions in some relatively thinly traded markets and don't want to compete with myself. So I will put this out one bit at a time. Plus, isn't this article long enough as it is? :-)

Mon, 01/26/2015 - 14:23 | 5707051 RaceToTheBottom
RaceToTheBottom's picture

"Plus, isn't this article long enough as it is? :-)"

Please don't write for how your readers presently are, write for how you want them to be.

Sun, 01/25/2015 - 15:29 | 5702937 disgruntled hou...
disgruntled housewife's picture

Anyone can comment but not everyone can post. The Tylers must see some value in the four part series or it would not have been offered. Another thing for those who criticize this as being old news you should consider not all of us readers have phD's in economics.  

I have been reading this site for awhile now and commenting for leass than a year. One standard theme of the comments seems to be how stupid people all are and I am guessing you are using yourselves as a yardstick. People need to start somewhere and I personnaly have never heard of the Impossible Trinity or Trilemma so for me I will look for the following parts.

It is a shame when people believe they know it all and there is nothing more to learn than "keep stackin bitches." Maybe that is why we find ourselves in this position. Those before us closed their minds too. Anyhow I appreciate all offerings and look for the good in every post. Certainly there are times when I feel it necessary to disagree but I try to offer a reason why.

Mon, 01/26/2015 - 01:39 | 5705103 NevadaMirage
NevadaMirage's picture

This is the same Zerohedge that recently featured a chemtrail article which was serious and not parody. Clicks are a powerful force on the internet. I just clicked on a Reggie Middleton post to see the trainwreck. Mission accomplished for the Tylers.

Sun, 01/25/2015 - 16:20 | 5703119 Minder For Priapus
Minder For Priapus's picture

No. You are wrong, those before us had their minds well and truly open, which was why this finiancial theft shit never got off the ground despite multiple attempts. Only the TV and the ability to brainwash millions changed that and made the majority dumb, whereby they got away with it.

Just take 'Keep stackin bitches' to mean 'Only tangible money is real money'

And yes people are stupid in the main, if you think they aren't then you yourself are stupid. Sorry.

Sun, 01/25/2015 - 18:01 | 5703540 oudinot
oudinot's picture

I know many very smart people who are uninformed or disinformed but they are not stupid; just ignorant.

I believe 'stupid' is the wrong word, 'ignorance'fits better.

 

Sun, 01/25/2015 - 20:25 | 5704133 HardAssets
HardAssets's picture

IMO people may be ignorant regarding a particular topic. Nothing wrong with that since you can't know everything.

Stupid is purposely & energetically refusing to inform yourself on a topic which is of great, even critical, importance . . . such as the nature of money. It is evidence of a "head in the sand" attitude. A form of denial. It is an emotional failing with intellectual effects.

I know plenty of people who are stupid in this way, including family members.

Sun, 01/25/2015 - 21:34 | 5704389 amadeus39
amadeus39's picture

I have no problem with people being stupid...as long as they don't let me know.

 

Sun, 01/25/2015 - 16:08 | 5703070 oddjob
oddjob's picture

If you now feel you are so enlightned to judge people on what you know now, you are no different than them. Did it ever occur to you that maybe somebody is taking the bus back from where you are heading?

Sun, 01/25/2015 - 20:51 | 5704250 old naughty
old naughty's picture

"...taking the bus back from where you are heading?"

Hummmmm.

“Your frequency is what you frequently see. Pay attention to synchronicity as there are valuable lessons to be learned in the repetition of your reality.” - Jennifer Sodini

Sun, 01/25/2015 - 14:42 | 5702762 epicurious
epicurious's picture

Hey this is such old news!  Everybody here read James Rickards back in 2011.  Please get a life!

Sun, 01/25/2015 - 15:05 | 5702858 Reggie Middleton
Reggie Middleton's picture

This is a primer, and I doubt very seriously the following pieces are widely known.

Sun, 01/25/2015 - 16:04 | 5703050 Motorhead
Motorhead's picture

Thanks for your comments, Reggie.

Sun, 01/25/2015 - 15:18 | 5702894 me again
me again's picture

What happened to you Reggie; ? You were an honest guy walking around New York on video pointing out the commercial real estate disaster; which was completely real; you were kind of a hero of mine; you spoke right up and told a lot of truth to a lotta people. How did you get involved with something as silly as digital-code "money";  and on Zero Hedge ?? Reggie, I know what real money looks like, I already have some. The 1964 US Silver Quarter looks a lot like the coin they paid the first Roman Legions with; before they got themselves behind the eight-ball. That's real money, Reggie; with real historical mass sub-conscious meaning.  Digital codes ? Come on, man; you're just joking, right ?

Sun, 01/25/2015 - 16:31 | 5703155 Reggie Middleton
Reggie Middleton's picture

Let me answer your question my friend. My specialty, my strength, is in seeing things that other's can't - or probably more aptly put, wont! When I was walking around pointing out real estate that was going to go bust, I got a lot of comments like yours saying "what happened Reggie, I had a lot of respect for you when you were bullish on real estate!". I caught the same flack when I said Lehman and Bear were toast. The same thing when I warned about Blackberry and the EU. Lord knows what I went through when I warned about Apple (America's sweetheart). 

You see, the truth is never popular, but that doesn't make it less true! Get it?

Blockchain technologies are the fastest growing segment in both tech and finance since its inception. The problem is the media has trained lay people and finance pros to focus on the fluctuating price of bitcoins and fraudulent/imcompetent actors (both highly irrelevent to the tech itself) which as led most astray. Its unfortunate for if you are misled you are missing out on the most important global development since arpanet turned into the Internet which spawned the World Wide Web!

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