Exchange rates for UK - Compare foreign currencies versus GBP

I will be moving abroad and would need to spend a lot of money until I can set up a bank account there. What is the best way to optimize for a good exchange rate and merchant transaction costs?

More specifically, I'll be moving to the UK soon. Unfortunately, to set up a bank account, I'd need to rent a residence and to rent a residence I'd need to spend my money wisely at a good forex rate. To understand the problem more, I did some google-fu and realized that the solution should account for a few things.
- I need to use a service that is / can be attached to my Indian bank and can provide card banking facilities abroad with at a near-wholesale currency exchange rate. I want to avoid using cash-based transfer services there (eg: like what western union is usually used for).
- The service should also have the lowest possible transaction charges applied. Are there services that provide 0% markup on foreign merchant transactions or ATM withdrawals?
The service again, is just a temporary solution until I can set up a proper account abroad. I did discover that a forex card service can be used (Like Makemytrip's HDFC Prepaid), but I'm a bit nervous on understanding how it this actually works or if there's a hidden catch. I hope I can learn more about this.
This community has been super helpful with me so far, so thank you!
submitted by movingtolondon101 to india [link] [comments]

Etoro and The bank F*&CKERY - They're both robbing you.

So im looking to invest through Etoro for the long term, Im a math freak and I create various spreadsheets to track my money, anyways to the point, I'm from the UK so the exchange is a real hassle.... not so much when depositing but when I withdraw, ill go into some numbers below.
Lets say I start the year by investing £10000 and I make 50%, great right? yeah, but heres some more numbers.
If I withdraw £15000 from USD to GBP ill have 13.14% of my profits slashed, my banks exchange rate is 1.4107... etorro is 1.2875 from GBP to USD, so £15000 would equate to $19312 USD, as etorro only handles USD and withdraws in USD.
So with $19,312 I withdraw I lose $5 > $19,307. $19,307 Is sent to my bank and my bank converts it to GBP at a rate of 1.4107 which leaves me at £13,686. thats £1314 taken away from me. 13.14% gone. and yes you could say "just dont withdraw then" lets see another example.
Deposit: £30,000 Etoro Conversion: $38,625Profit made: 50%: £45,000 Etoro Conversion: $57,937Withdrawal Free $5 --- $57932
$57932 in withdrawn, $5 fee is taken and is now on its way to the bank.
Natwest handles this withdrawn money at a rate of 1.4107 so our final sum ends at £41,966.49 with a EOY return of 36.89, again we have lost 13.11%. and the banks have taken £3034
So what does this mean? this is bad news to those who are not from the US, alot of people aim for 10% profits per year only to find out that they've made nothing because of the exchange rates, I have ran the numbers multiple time and its crazy when you see the truth, why cant Etoro handle withdrawal conversions? theyre making millions from forex and CFD spreads as it is.
The only solution is if Etoro withdraws your money the same way you deposit it.....
EDIT: this is only the case if you withdraw your funds that aren't your bank account currency, comments below have mentioned that you can choose your withdrawal currency so this shouldn't be a issue, but take this as a lesson, above is a prime example if you choose the wrong option, the banks will penalise your profits big time.
submitted by Zephh26 to Etoro [link] [comments]

No, the British did not steal $45 trillion from India

This is an updated copy of the version on BadHistory. I plan to update it in accordance with the feedback I got.
I'd like to thank two people who will remain anonymous for helping me greatly with this post (you know who you are)
Three years ago a festschrift for Binay Bhushan Chaudhuri was published by Shubhra Chakrabarti, a history teacher at the University of Delhi and Utsa Patnaik, a Marxist economist who taught at JNU until 2010.
One of the essays in the festschirt by Utsa Patnaik was an attempt to quantify the "drain" undergone by India during British Rule. Her conclusion? Britain robbed India of $45 trillion (or £9.2 trillion) during their 200 or so years of rule. This figure was immensely popular, and got republished in several major news outlets (here, here, here, here (they get the number wrong) and more recently here), got a mention from the Minister of External Affairs & returns 29,100 results on Google. There's also plenty of references to it here on Reddit.
Patnaik is not the first to calculate such a figure. Angus Maddison thought it was £100 million, Simon Digby said £1 billion, Javier Estaban said £40 million see Roy (2019). The huge range of figures should set off some alarm bells.
So how did Patnaik calculate this (shockingly large) figure? Well, even though I don't have access to the festschrift, she conveniently has written an article detailing her methodology here. Let's have a look.
How exactly did the British manage to diddle us and drain our wealth’ ? was the question that Basudev Chatterjee (later editor of a volume in the Towards Freedom project) had posed to me 50 years ago when we were fellow-students abroad.
This is begging the question.
After decades of research I find that using India’s commodity export surplus as the measure and applying an interest rate of 5%, the total drain from 1765 to 1938, compounded up to 2016, comes to £9.2 trillion; since $4.86 exchanged for £1 those days, this sum equals about $45 trillion.
This is completely meaningless. To understand why it's meaningless consider India's annual coconut exports. These are almost certainly a surplus but the surplus in trade is countered by the other country buying the product (indeed, by definition, trade surpluses contribute to the GDP of a nation which hardly plays into intuitive conceptualisations of drain).
Furthermore, Dewey (2019) critiques the 5% interest rate.
She [Patnaik] consistently adopts statistical assumptions (such as compound interest at a rate of 5% per annum over centuries) that exaggerate the magnitude of the drain
Moving on:
The exact mechanism of drain, or transfers from India to Britain was quite simple.
Convenient.
Drain theory possessed the political merit of being easily grasped by a nation of peasants. [...] No other idea could arouse people than the thought that they were being taxed so that others in far off lands might live in comfort. [...] It was, therefore, inevitable that the drain theory became the main staple of nationalist political agitation during the Gandhian era.
- Chandra et al. (1989)
The key factor was Britain’s control over our taxation revenues combined with control over India’s financial gold and forex earnings from its booming commodity export surplus with the world. Simply put, Britain used locally raised rupee tax revenues to pay for its net import of goods, a highly abnormal use of budgetary funds not seen in any sovereign country.
The issue with figures like these is they all make certain methodological assumptions that are impossible to prove. From Roy in Frankema et al. (2019):
the "drain theory" of Indian poverty cannot be tested with evidence, for several reasons. First, it rests on the counterfactual that any money saved on account of factor payments abroad would translate into domestic investment, which can never be proved. Second, it rests on "the primitive notion that all payments to foreigners are "drain"", that is, on the assumption that these payments did not contribute to domestic national income to the equivalent extent (Kumar 1985, 384; see also Chaudhuri 1968). Again, this cannot be tested. [...] Fourth, while British officers serving India did receive salaries that were many times that of the average income in India, a paper using cross-country data shows that colonies with better paid officers were governed better (Jones 2013).
Indeed, drain theory rests on some very weak foundations. This, in of itself, should be enough to dismiss any of the other figures that get thrown out. Nonetheless, I felt it would be a useful exercise to continue exploring Patnaik's take on drain theory.
The East India Company from 1765 onwards allocated every year up to one-third of Indian budgetary revenues net of collection costs, to buy a large volume of goods for direct import into Britain, far in excess of that country’s own needs.
So what's going on here? Well Roy (2019) explains it better:
Colonial India ran an export surplus, which, together with foreign investment, was used to pay for services purchased from Britain. These payments included interest on public debt, salaries, and pensions paid to government offcers who had come from Britain, salaries of managers and engineers, guaranteed profts paid to railway companies, and repatriated business profts. How do we know that any of these payments involved paying too much? The answer is we do not.
So what was really happening is the government was paying its workers for services (as well as guaranteeing profits - to promote investment - something the GoI does today Dalal (2019), and promoting business in India), and those workers were remitting some of that money to Britain. This is hardly a drain (unless, of course, Indian diaspora around the world today are "draining" it). In some cases, the remittances would take the form of goods (as described) see Chaudhuri (1983):
It is obvious that these debit items were financed through the export surplus on merchandise account, and later, when railway construction started on a large scale in India, through capital import. Until 1833 the East India Company followed a cumbersome method in remitting the annual home charges. This was to purchase export commodities in India out of revenue, which were then shipped to London and the proceeds from their sale handed over to the home treasury.
While Roy's earlier point argues better paid officers governed better, it is honestly impossible to say what part of the repatriated export surplus was a drain, and what was not. However calling all of it a drain is definitely misguided.
It's worth noting that Patnaik seems to make no attempt to quantify the benefits of the Raj either, Dewey (2019)'s 2nd criticism:
she [Patnaik] consistently ignores research that would tend to cut the economic impact of the drain down to size, such as the work on the sources of investment during the industrial revolution (which shows that industrialisation was financed by the ploughed-back profits of industrialists) or the costs of empire school (which stresses the high price of imperial defence)

Since tropical goods were highly prized in other cold temperate countries which could never produce them, in effect these free goods represented international purchasing power for Britain which kept a part for its own use and re-exported the balance to other countries in Europe and North America against import of food grains, iron and other goods in which it was deficient.
Re-exports necessarily adds value to goods when the goods are processed and when the goods are transported. The country with the largest navy at the time would presumably be in very good stead to do the latter.
The British historians Phyllis Deane and WA Cole presented an incorrect estimate of Britain’s 18th-19th century trade volume, by leaving out re-exports completely. I found that by 1800 Britain’s total trade was 62% higher than their estimate, on applying the correct definition of trade including re-exports, that is used by the United Nations and by all other international organisations.
While interesting, and certainly expected for such an old book, re-exporting necessarily adds value to goods.
When the Crown took over from the Company, from 1861 a clever system was developed under which all of India’s financial gold and forex earnings from its fast-rising commodity export surplus with the world, was intercepted and appropriated by Britain. As before up to a third of India’s rising budgetary revenues was not spent domestically but was set aside as ‘expenditure abroad’.
So, what does this mean? Britain appropriated all of India's earnings, and then spent a third of it aboard? Not exactly. She is describing home charges see Roy (2019) again:
Some of the expenditures on defense and administration were made in sterling and went out of the country. This payment by the government was known as the Home Charges. For example, interest payment on loans raised to finance construction of railways and irrigation works, pensions paid to retired officers, and purchase of stores, were payments in sterling. [...] almost all money that the government paid abroad corresponded to the purchase of a service from abroad. [...] The balance of payments system that emerged after 1800 was based on standard business principles. India bought something and paid for it. State revenues were used to pay for wages of people hired abroad, pay for interest on loans raised abroad, and repatriation of profits on foreign investments coming into India. These were legitimate market transactions.
Indeed, if paying for what you buy is drain, then several billions of us are drained every day.
The Secretary of State for India in Council, based in London, invited foreign importers to deposit with him the payment (in gold, sterling and their own currencies) for their net imports from India, and these gold and forex payments disappeared into the yawning maw of the SoS’s account in the Bank of England.
It should be noted that India having two heads was beneficial, and encouraged investment per Roy (2019):
The fact that the India Office in London managed a part of the monetary system made India creditworthy, stabilized its currency, and encouraged foreign savers to put money into railways and private enterprise in India. Current research on the history of public debt shows that stable and large colonies found it easier to borrow abroad than independent economies because the investors trusted the guarantee of the colonist powers.

Against India’s net foreign earnings he issued bills, termed Council bills (CBs), to an equivalent rupee value. The rate (between gold-linked sterling and silver rupee) at which the bills were issued, was carefully adjusted to the last farthing, so that foreigners would never find it more profitable to ship financial gold as payment directly to Indians, compared to using the CB route. Foreign importers then sent the CBs by post or by telegraph to the export houses in India, that via the exchange banks were paid out of the budgeted provision of sums under ‘expenditure abroad’, and the exporters in turn paid the producers (peasants and artisans) from whom they sourced the goods.
Sunderland (2013) argues CBs had two main roles (and neither were part of a grand plot to keep gold out of India):
Council bills had two roles. They firstly promoted trade by handing the IO some control of the rate of exchange and allowing the exchange banks to remit funds to India and to hedge currency transaction risks. They also enabled the Indian government to transfer cash to England for the payment of its UK commitments.

The United Nations (1962) historical data for 1900 to 1960, show that for three decades up to 1928 (and very likely earlier too) India posted the second highest merchandise export surplus in the world, with USA in the first position. Not only were Indians deprived of every bit of the enormous international purchasing power they had earned over 175 years, even its rupee equivalent was not issued to them since not even the colonial government was credited with any part of India’s net gold and forex earnings against which it could issue rupees. The sleight-of-hand employed, namely ‘paying’ producers out of their own taxes, made India’s export surplus unrequited and constituted a tax-financed drain to the metropolis, as had been correctly pointed out by those highly insightful classical writers, Dadabhai Naoroji and RCDutt.
It doesn't appear that others appreciate their insight Roy (2019):
K. N. Chaudhuri rightly calls such practice ‘confused’ economics ‘coloured by political feelings’.

Surplus budgets to effect such heavy tax-financed transfers had a severe employment–reducing and income-deflating effect: mass consumption was squeezed in order to release export goods. Per capita annual foodgrains absorption in British India declined from 210 kg. during the period 1904-09, to 157 kg. during 1937-41, and to only 137 kg by 1946.
Dewey (1978) points out reliability issues with Indian agriculutural statistics, however this calorie decline persists to this day. Some of it is attributed to less food being consumed at home Smith (2015), a lower infectious disease burden Duh & Spears (2016) and diversified diets Vankatesh et al. (2016).
If even a part of its enormous foreign earnings had been credited to it and not entirely siphoned off, India could have imported modern technology to build up an industrial structure as Japan was doing.
This is, unfortunately, impossible to prove. Had the British not arrived in India, there is no clear indication that India would've united (this is arguably more plausible than the given counterfactual1). Had the British not arrived in India, there is no clear indication India would not have been nuked in WW2, much like Japan. Had the British not arrived in India, there is no clear indication India would not have been invaded by lizard people, much like Japan. The list continues eternally.
Nevertheless, I will charitably examine the given counterfactual anyway. Did pre-colonial India have industrial potential? The answer is a resounding no.
From Gupta (1980):
This article starts from the premise that while economic categories - the extent of commodity production, wage labour, monetarisation of the economy, etc - should be the basis for any analysis of the production relations of pre-British India, it is the nature of class struggles arising out of particular class alignments that finally gives the decisive twist to social change. Arguing on this premise, and analysing the available evidence, this article concludes that there was little potential for industrial revolution before the British arrived in India because, whatever might have been the character of economic categories of that period, the class relations had not sufficiently matured to develop productive forces and the required class struggle for a 'revolution' to take place.
A view echoed in Raychaudhuri (1983):
Yet all of this did not amount to an economic situation comparable to that of western Europe on the eve of the industrial revolution. Her technology - in agriculture as well as manufacturers - had by and large been stagnant for centuries. [...] The weakness of the Indian economy in the mid-eighteenth century, as compared to pre-industrial Europe was not simply a matter of technology and commercial and industrial organization. No scientific or geographical revolution formed part of the eighteenth-century Indian's historical experience. [...] Spontaneous movement towards industrialisation is unlikely in such a situation.
So now we've established India did not have industrial potential, was India similar to Japan just before the Meiji era? The answer, yet again, unsurprisingly, is no. Japan's economic situation was not comparable to India's, which allowed for Japan to finance its revolution. From Yasuba (1986):
All in all, the Japanese standard of living may not have been much below the English standard of living before industrialization, and both of them may have been considerably higher than the Indian standard of living. We can no longer say that Japan started from a pathetically low economic level and achieved a rapid or even "miraculous" economic growth. Japan's per capita income was almost as high as in Western Europe before industrialization, and it was possible for Japan to produce surplus in the Meiji Period to finance private and public capital formation.
The circumstances that led to Meiji Japan were extremely unique. See Tomlinson (1985):
Most modern comparisons between India and Japan, written by either Indianists or Japanese specialists, stress instead that industrial growth in Meiji Japan was the product of unique features that were not reproducible elsewhere. [...] it is undoubtably true that Japan's progress to industrialization has been unique and unrepeatable
So there you have it. Unsubstantiated statistical assumptions, calling any number you can a drain & assuming a counterfactual for no good reason gets you this $45 trillion number. Hopefully that's enough to bury it in the ground.
1. Several authors have affirmed that Indian identity is a colonial artefact. For example see Rajan 1969:
Perhaps the single greatest and most enduring impact of British rule over India is that it created an Indian nation, in the modern political sense. After centuries of rule by different dynasties overparts of the Indian sub-continent, and after about 100 years of British rule, Indians ceased to be merely Bengalis, Maharashtrians,or Tamils, linguistically and culturally.
or see Bryant 2000:
But then, it would be anachronistic to condemn eighteenth-century Indians, who served the British, as collaborators, when the notion of 'democratic' nationalism or of an Indian 'nation' did not then exist. [...] Indians who fought for them, differed from the Europeans in having a primary attachment to a non-belligerent religion, family and local chief, which was stronger than any identity they might have with a more remote prince or 'nation'.

Bibliography

Chakrabarti, Shubra & Patnaik, Utsa (2018). Agrarian and other histories: Essays for Binay Bhushan Chaudhuri. Colombia University Press
Hickel, Jason (2018). How the British stole $45 trillion from India. The Guardian
Bhuyan, Aroonim & Sharma, Krishan (2019). The Great Loot: How the British stole $45 trillion from India. Indiapost
Monbiot, George (2020). English Landowners have stolen our rights. It is time to reclaim them. The Guardian
Tsjeng, Zing (2020). How Britain Stole $45 trillion from India with trains | Empires of Dirt. Vice
Chaudhury, Dipanjan (2019). British looted $45 trillion from India in today’s value: Jaishankar. The Economic Times
Roy, Tirthankar (2019). How British rule changed India's economy: The Paradox of the Raj. Palgrave Macmillan
Patnaik, Utsa (2018). How the British impoverished India. Hindustan Times
Tuovila, Alicia (2019). Expenditure method. Investopedia
Dewey, Clive (2019). Changing the guard: The dissolution of the nationalist–Marxist orthodoxy in the agrarian and agricultural history of India. The Indian Economic & Social History Review
Chandra, Bipan et al. (1989). India's Struggle for Independence, 1857-1947. Penguin Books
Frankema, Ewout & Booth, Anne (2019). Fiscal Capacity and the Colonial State in Asia and Africa, c. 1850-1960. Cambridge University Press
Dalal, Sucheta (2019). IL&FS Controversy: Centre is Paying Up on Sovereign Guarantees to ADB, KfW for Group's Loan. TheWire
Chaudhuri, K.N. (1983). X - Foreign Trade and Balance of Payments (1757–1947). Cambridge University Press
Sunderland, David (2013). Financing the Raj: The City of London and Colonial India, 1858-1940. Boydell Press
Dewey, Clive (1978). Patwari and Chaukidar: Subordinate officials and the reliability of India’s agricultural statistics. Athlone Press
Smith, Lisa (2015). The great Indian calorie debate: Explaining rising undernourishment during India’s rapid economic growth. Food Policy
Duh, Josephine & Spears, Dean (2016). Health and Hunger: Disease, Energy Needs, and the Indian Calorie Consumption Puzzle. The Economic Journal
Vankatesh, P. et al. (2016). Relationship between Food Production and Consumption Diversity in India – Empirical Evidences from Cross Section Analysis. Agricultural Economics Research Review
Gupta, Shaibal (1980). Potential of Industrial Revolution in Pre-British India. Economic and Political Weekly
Raychaudhuri, Tapan (1983). I - The mid-eighteenth-century background. Cambridge University Press
Yasuba, Yasukichi (1986). Standard of Living in Japan Before Industrialization: From what Level did Japan Begin? A Comment. The Journal of Economic History
Tomblinson, B.R. (1985). Writing History Sideways: Lessons for Indian Economic Historians from Meiji Japan. Cambridge University Press
Rajan, M.S. (1969). The Impact of British Rule in India. Journal of Contemporary History
Bryant, G.J. (2000). Indigenous Mercenaries in the Service of European Imperialists: The Case of the Sepoys in the Early British Indian Army, 1750-1800. War in History
submitted by GaslightEveryone to u/GaslightEveryone [link] [comments]

Pound escaped from the scaffold. Forecast as of 29.09.2020

Pound escaped from the scaffold. Forecast as of 29.09.2020
It seemed that Boris Johnson should have crashed the sterling by the domestic market bill. But it was only a part of the plan. Let us discuss the pound prospects and make a GBPUSD trading plan.

Fundamental Pound forecast for this week

How to make a nation happy? Ruin the hopes for the bright future and bring them back. The UK domestic market bill, which allows canceling some paragraphs of the EU-UK deal signed last year, could have ruined the last hopes for a Brexit deal. The UK has created problems itself and was going to face new tariffs after December 31, which would hit the UK economy, already weak. Fortunately, the chance to sign the EU-UK trade deal has increased, and the pound is strengthening.
All or nothing. The final round of the EU-UK talks should clarify the situation, also for the sterling future trend. The progress suggests moving into the next stage of the “tunnel” negotiations to allow both sides to discuss detail and present the draft deal at the EU summit in mid-October. Otherwise, if the negotiations fail, the chance of a no-deal Brexit will surge. The pound traders are preparing for the market turmoil, as the GBP will be somewhat responsive to any news about Brexit talks. The EU’s chief negotiator, Michel Barnier, told there was “a more open atmosphere at the negotiating table.” Moreover, Bloomberg’s source familiar with the matter suggests that the EU will demand the withdrawal of specific provisions on the UK internal market bill in exchange for concessions. The GBPUSD bulls went ahead and sent the rate above the top of figure 29 for a while.

Reaction of pound to positive information about Brexit


Source: Reuters.
If the Brexit deal is signed, Boris Jonson’s game will be useful. The UK often exaggerates the crisis scale to fuel the positive news after the problem is solved. If so, the BoE will have no reasons to cut the interest rates below zero. Expectations for the BoE rate cut were one of the drivers for the sterling’s drop in September. Some BoE officials, including Andrew Bailey and the deputy Governor Dave Ramsden, say there is no need for negative rates. Their opponents, including Silvana Tenreyro, note that in other countries, the banking system has adapted to similar monetary policy.
We shouldn’t deceive ourselves about the positive influence of the UK fiscal stimulus on the pound rate. According to Goldman Sachs, the new financial aid package won’t save the UK labor market form either the loss of another 2.2 million jobs or the unemployment growth to 9%, which is two times more than the current level.

GBPUSD trading plan for the week

Brexit and nothing else will determine the sterling trends for the near future. The progress in the Brexit talks encourages the GBPUSD bulls. Pound volatility should be very high during the week through October 2. If the UK-EU talks succeed, the price could hit 1.33. If the pound buyers break out the resistance at $1.2925-$1.293, it may be a signal to buy the GBPUSD. There must be a stop loss, as the lack of progress could send the pair towards 1.2.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/pound-escaped-from-the-scaffold-forecast-as-of-29092020/ ?uid=285861726&cid=62423
submitted by Maxvelgus to Finance_analytics [link] [comments]

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

Author: Christian Hsieh, CEO of Tokenomy
This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets.
The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world’s most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world’s debt is denominated in U.S. dollars1.
However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of “money printing” and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.

Demand for U.S. Dollars

Firstly, most of the world’s trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar’s share of invoicing was 4.7 times larger than America’s share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant “invoicing currency” in most developing countries4.

https://preview.redd.it/d4xalwdyz8p51.png?width=535&format=png&auto=webp&s=9f0556c6aa6b29016c9b135f3279e8337dfee2a6

https://preview.redd.it/wucg40kzz8p51.png?width=653&format=png&auto=webp&s=71257fec29b43e0fc0df1bf04363717e3b52478f
This U.S. dollar preference also directly impacts the world’s debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate.

https://preview.redd.it/6956j6f109p51.png?width=487&format=png&auto=webp&s=ccea257a4e9524c11df25737cac961308b542b69
Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America’s total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors’ quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions.

Source: Bloomberg
Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.

The Rise of Crypto Dollars

Due to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether’s intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13.

https://preview.redd.it/3vq7v1jg09p51.png?width=700&format=png&auto=webp&s=46f11b5f5245a8c335ccc60432873e9bad2eb1e1
An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether’s trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether’s solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.

Institutional Developments

In addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero.
J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the “permissioned” blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of “blockchain” in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications.
Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook’s aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19.

https://preview.redd.it/lgb1f2rw19p51.png?width=700&format=png&auto=webp&s=040bb0deed0499df6bf08a072fd7c4a442a826a0
These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that “stablecoins and CBDC could sit alongside each other20”. One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.

Future Opportunities

There is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation. Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry.
There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish.
In this paper we examined the historical background and economic reasons for the U.S. dollar’s dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world.
Thank you.

Reference:
[1] How the US dollar became the world’s reserve currency, Investopedia
[2] The dollar is in high demand, prone to dangerous appreciation, The Economist
[3] Dollar dominance in trade and finance, Gita Gopinath
[4] Global trades dependence on dollars, The Economist & IMF working papers
[5] Total credit to non-bank borrowers by currency of denomination, BIS
[6] Biggest stock exchanges in the world, Business Insider
[7] McKinsey Global Private Market Review 2020, McKinsey & Company
[8] Central banks current interest rates, Global Rates
[9] Venezuela hyperinflation hits 10 million percent, CNBC
[10] Lebanon inflation crisis, Reuters
[11] Venezuela cryptocurrency market, Chainalysis
[12] The most used cryptocurrency isn’t Bitcoin, Bloomberg
[13] Trading volume of all crypto assets, coinmarketcap.com
[14] Tether US dollar peg is no longer credible, Forbes
[15] New crypto derivatives let you bet on (or against) Tether’s solvency, Coindesk
[16] Remittance Price Worldwide, The World Bank
[17] Interbank Information Network, J.P. Morgan
[18] Jamie Dimon interview, CBS News
[19] Rise of the central bank digital currency, BIS
[20] Speech by Andrew Bailey, 3 September 2020, Bank of England
submitted by Tokenomy to tokenomyofficial [link] [comments]

Money, Money, Money - Its always about the money!


Some economists (but not all economists) believe that the USD and the US economy is losing its integrity and may ultimately collapse.
https://www.businessinsider.com.au/dollar-crash-swelling-deficit-deglobalization-stephen-roach-coronavirus-stimulus-recession-2020-6?r=US&IR=T
https://www.bloomberg.com/opinion/articles/2020-06-14/dollar-crash-how-will-it-unfold
https://www.investopedia.com/articles/forex-currencies/091416/what-would-it-take-us-dollar-collapse.asp
https://www.nytimes.com/2020/06/06/upshot/coronavirus-economic-crisis.html
https://www.ft.com/content/d5f05b5c-7db8-11ea-8fdb-7ec06edeef84
https://markets.businessinsider.com/news/stocks/dollar-crash-swelling-deficit-deglobalization-stephen-roach-coronavirus-stimulus-recession-2020-6-1029312845?op=1
https://medium.com/@baileybarney/will-the-us-dollar-collapse-23e707f19da0

Question: If accurate, what would replace the USD as the global reserve currency?
Answer: The IMF is ready with a replacement global reserve currency called SDR's!

  1. https://www.imf.org/external/pubs/ft/fandd/2019/12/future-of-the-IMF-special-drawing-right-SDR-Ocampo.htm
" In this brave new world, is it time to rethink the SDR’s role?" (Ocampo)"The IMF should not pass up this opportunity" (Ocampo)
  1. https://www.project-syndicate.org/commentary/imf-special-drawing-right-global-currency-by-jose-antonio-ocampo-2019-04?barrier=accesspaylog
3.https://www.google.com/amp/s/amp.theguardian.com/business/2017/ap24/imf-populism-nationalism-sdr-reserve-currency
4.https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR
5.https://www.theigc.org/project/the-viability-of-the-special-drawing-rights-as-an-international-reserve-asset/
6.https://www.google.com/amp/s/www.livemint.com/news/india/consensus-remains-elusive-among-g20-countries-on-fresh-sdr-allocation/amp-11595160202040.html
7.https://www.google.com/amp/s/amp.ft.com/content/43a67e06-bbeb-4bea-8939-bc29ca785b0e
8.https://www.nytimes.com/2010/02/27/business/27imf.html
9.https://www.economist.com/finance-and-economics/1998/09/24/one-world-one-money
10.https://www.google.com/amp/s/www.cityam.com/world-reserve-currencies-is-the-us-dollars-days-numbered/amp/
11.https://www.eastasiaforum.org/2019/09/22/the-dollar-shouldnt-be-the-reserve-currency-but-neither-should-the-renminbi/

Will CBDC's be created at the same time as the SDR's? Will exchange rates of CBDC's be anchored to Quotas? Is the IMF a fund or potentially more like a Central Bank for the World? How did the IMF come about?
Central Bank Digital Coins - CBDC's
https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2018/11/13/Casting-Light-on-Central-Bank-Digital-Currencies-46233

2.https://www.imf.org/en/News/Articles/2019/05/13/sp051419-stablecoins-central-bank-digital-currencies-and-cross-border-payments
https://www.google.com/amp/s/techwireasia.com/amp/2020/03/central-banks-are-keen-on-digital-currencies-the-imf-is-backing-them/
3.
https://m.economictimes.com/markets/stocks/news/central-banks-wake-up-to-digital-currency-create-new-framework-with-wef/articleshow/73554517.cms
4.
https://www.forbes.com/sites/pawelkuskowski/2020/06/07/central-bank-digital-currencies-cbdc-a-crisis-recovery-tool-for-governments/5.
https://www.weforum.org/press/2020/01/central-banks-waking-up-to-digital-currency-create-new-framework-for-cbdc-deployment-with-world-economic-forum-177ca5d9ee/6.
https://www.theblockcrypto.com/linked/41243/imf-officials-say-synthetic-cbdc-with-a-public-private-partnership-is-the-better-option7.
https://blockchain.news/insight/private-firms-can-boost-innovation-of-central-bank-digital-currencysays-imf-8.
https://coinidol.com/official-promote-digital-currency/9.
https://bitcoinexchangeguide.com/top-imf-official-calls-for-synthetic-central-bank-digital-currencies-cbdc-development/10
  1. England:https://www.bloomberg.com/amp/news/articles/2020-07-13/bank-of-england-debating-digital-currency-creation-bailey-says
  2. USA:https://www.forbes.com/sites/jasonbrett/2020/03/23/new-coronavirus-stimulus-bill-introduces-digital-dollar-and-digital-dollar-wallets/amp/
https://www.google.com/amp/s/www.wsj.com/amp/articles/fed-digital-dollars-are-part-of-debate-over-coronavirus-stimulus-11585085518
  1. Australiahttps://www.businessinsider.com.au/the-rba-has-been-secretly-working-on-an-all-digital-version-of-the-australian-dollar-but-it-may-not-release-it-to-the-public-at-all-2020-1
https://www.rba.gov.au/publications/submissions/payments-system/financial-and-regulatory-technology/
  1. Canadahttps://www.ledgerinsights.com/canada-exploring-consumer-cbdc/
  2. Swedenhttps://www.google.com/amp/s/cointelegraph.com/news/sweden-is-testing-its-new-central-bank-digital-currency/amp
  3. Norwayhttps://www.norges-bank.no/en/news-events/news-publications/News-items/2019/2019-06-27-cbdc/
  4. European Unionhttps://www.google.com/amp/s/finance.yahoo.com/amphtml/news/dutch-central-bank-wants-european-191627776.html
  5. Singaporehttps://chainbulletin.com/singapore-ready-to-explore-cbdc-together-with-china/amp/
  6. New Zealand:https://investmentnews.co.nz/investment-news/digital-central-bank-money-tipped-for-world-dominance/
  7. Chinahttps://www.ledgerinsights.com/china-central-bank-digital-currency-cbdc-renminbi-dolla

SideNote:

The World Economic Forum is planning a major event for January of 2021 that will focus on the "Great Reset" and the "4th Industrial Revolution".
https://www.weforum.org/great-reset/
https://www.weforum.org/agenda/2016/01/what-is-the-fourth-industrial-revolution/

Prince Charles wants to reset - Do you?
https://www.theguardian.com/uk-news/2020/jun/03/pandemic-is-chance-to-reset-global-economy-says-prince-charles

What are they gonna reset?

TL:DR
!. Potential collapse of the US dollar.
  1. Replaced by IMF SDR's
3.Complimented by new CBDC's
  1. How is this connection the WEF "Great Reset..
Its time to read, learn and share!

Edit = Added TL:DR
submitted by andrew77mc to conspiracy [link] [comments]

EUR/USD forecast: Euro doesn’t believe its luck

EUUSD forecast: Euro doesn’t believe its luck

Fundamental euro forecast for today

EUUSD bulls do not believe Christine Lagarde’s optimism

ECB is monitoring the euro exchange rate, but it is not willing to start a currency war now. Christine Lagarde expressed optimism about the euro-area economic recovery, the ECB president hasn’t signaled the further monetary easing in the near future. Lagarde’s speech should have encouraged the EUUSD bulls, but they didn’t believe the good news, so they didn’t go ahead. It looks like a catch. The ECB officials express concerns about the euro strengthening ahead of the Governing Council meeting, and, next, the ECB president sounds hawkish.
At the press conference, Christine Lagarde several times stressed that exchange rates and the euro appreciation were not the ECB policy target. However, the exchange rate was the most discussed topic at the Governing Council meeting in September. According to a Reuters source familiar with the matter, the ECB officials have agreed that the EUUSD rally resulted from a faster economic rebound in the euro area compared to the US growth, the Fed’s easy monetary policy, the increased confidence in the currency bloc due to the management of the pandemic fallout. Moreover, the upcoming presidential election in the US weighs on the US dollar. Bloomberg’s leading indicators signal that the GDP recovery is the fastest in Germany. After a temporary downturn in France, Italy, and Spain on concern about the second wave of the COVID-19 outbreak, the economic activity is gradually increasing. The UK, US, and Canada persistently lag behind.

Dynamics of the economic recovery


Source: Bloomberg
Four sources on the ECB's Governing Council told Reuters that the ECB acknowledges the negative effects of the euro's strength on inflation and growth, but the central bank is not willing to start a currency war. Speaking after the meeting, two sources said they saw $1.20 as not far from the equilibrium exchange rate at present. According to Citigroup, if the EUUSD is up by another 5%, the European Central Bank will take active measures. In the meanwhile, the regulator is carefully monitoring the exchange rates of the regional currency. The Governing Council policymakers at the meeting considered adopting the language used to stem the euro's previous rally, in early 2018, when the former ECB President Mario Draghi described "volatility in the exchange rate" as "a source of uncertainty", according to Reuters.
The Reuters sources say the southern countries of the eurozone are much more concerned about the euro strengthening than the northern ones. The Governing Council hawks wanted Lagarde to note the great progress in the euro-area economic recovery. François Villeroy de Galhau, the governor of the French central bank, insisted on this especially strongly.
So, the EUUSD bulls feared verbal interventions, signals of monetary easing, and the ECB willingness to follow the Fed’s example and target the average inflation. None of the fears came true. However, the euro hasn’t consolidated above $1.19. Are the buyers so weak? Or, they could feel a catch and will resume attacks after the ECB officials’ speeches. I suppose both scenarios should be considered. If the euro rises above $1.192, it will be relevant to buy. If it slides down below the support levels of $1.1795 and $1.1765, we should sell the euro versus the dollar.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/eurusd-forecast-euro-doesnt-believe-its-luck/?uid=285861726&cid=62423
submitted by Maxvelgus to Finance_analytics [link] [comments]

How does the BitQT App work?

How does the BitQT App work?

https://preview.redd.it/81cx1yfe1pm51.jpg?width=474&format=pjpg&auto=webp&s=2ceddeda7d5dc0be5c7d4b4dfa7a715baac65b3a
In the later part of websites are the testimonials screaming out loud regarding their success.BitQT review can be quiet judgemental at this point as a result of neither these testimonials prove the legitimacy of the web site nor the live profit reviews account such
You extremely want to understand that if you opt to speculate you’ll surely not visiting recover. TheBitQT just prove this by themselves stating it not being on affiliate terms with others. Something that’s claiming that you simply’ll earn 110zero greenbacks every day is doing a true-time scam job
Perhaps, theBitQT states advertising itself on Times, CNN and Forbes however neither of them found supportive during this regard. You'll check it all by yourself. This is often the sound proof of its scamming regime throughout the globe
It doesn’t have that laser-accurate performance as in trading bitcoin you can never guarantee the minimum amount of profit you be earning the other day. Its what happens when trading with Forex

Many of the websites agree onto the proficiency ofBitQT negating the crucial and impactful proves I shared with you higher than. They are saying it’s flawless. Will something be this flawless letting you earn regarding one thousand bucks each day without charging a penny? The automated transactions are known to be deposited directly into the user’s account that is nowhere to find affiliation with. Undoubtedly, most of the revealing sites have the only supportive argument beginning with, ‘As the review suggests’. Do raise yourselves, is that this the legitimate way to prove legitimacy ofBitQT
They too argue regarding the legitimate verification method. That’s the explanation why there’s a number of complaints with reference to the current. If these products would have really worked, why not each single person select to remain off from their offices integrating with it somehow:

Merely head to the SIGN-UP section on theBitQT site, fill in your personal info, and present your registration. When acknowledged, you'll be able to be able to access our restrictive Bitcoin exchanging

To induce your exchange account in progress, you’ll have to include some assets. WithBitQT, you can create a initial investment of as low as $250, although you'll be able to contribute as a lot of as you wantoy
Since your enlistment has been acknowledged and you’ve invested some funds, you’re fully done. Simply click on ‘trade’ to receive the rewards ofBitQT’s highly rated algorithm. In case you need a hands-on approach, you can shift to manual operation by changing the settings

There’s no harm in trading in terms of cryptocurrency. We have a tendency to’re not against it. But we tend to really aim to reveal the very fact thatBitQT isn't a legitimate website to believe during this case. To actually invest in bitcoin you initially want to shop for a bitcoin wallet so as to store all bitcoins. a series of blockchain integrations which permits you to top-up and earn.

But, as stated earlier you’ve no actual guarantee concerning the number you wish to earn. Secondly, you wish to integrate your bitcoin wallet to your account and then you’ll be ready to head towards the foremost step. Here, you’ll jin a bitcoin exchange system for trading bitcoin for any different traditional currencies of the market.

It works well solely if you for legitimate sites for functioning and planning. Perhaps, it too needs a nice amount of ability and we never promise you to begin earning when you join Bitcoin Exchanger somehow. This was all aboutBitQT Review as a full fulling the aim of alerting the scam going around.


Money Forex Cluster scamThe Cash Forex Group is run by a company named CFxG which allegedly was founded by a team of experts in all kinds of areas, mainly education in the monetary trading field and network promoting.

https://preview.redd.it/0gc7ga9f1pm51.jpg?width=474&format=pjpg&auto=webp&s=5c031ac047e635c47d3ee592ab9235878613c890
These experts and their automated trading system will supposedly facilitate your to form heaps of cash. In trading solely you'll allegedly make fifteenp.c weekly on your investments. Then there are referral programs and multi-level structures that can boost your income even more. Is that t
Money FX Group scamLet’s begin this Money Forex Group review by stating the obvious, this scheme may be a total scam, you just have to look at the numbers.BitQT

When they promise you fifteen%+ weekly, it means that 60percent+ monthly, which is totally ridiculous in the important world. It means a lot of than 560zeropercent per year, therefore you'd need solely $18,00zero greenbacks to become a millionaire within year. And this is often plain impossible.

No legitimate business can create you a gradual fifteenpercent weekly, no financial markets are that predictable and that easy to trade. It may appear straightforward to you, but it really is this straightforward, a program promising fifteenp.c weekly should be a scam, there is no alternative method, the Money FX Group is a scam.

However there is additional to go through in this review.
Massive lies

Money FX Cluster testimonialThe Money Forex Cluster claims to be regulated by the subsequent institutions: FAC – Financial Conduct Authority of London, DFSA – Monetary Services Authority in Dubai, FSCA – Monetary Sector Conduct Authority of South Africa and FSA – the Monetary Services Authority of Seychelles.

But guess what, the FAC will not even exist, while the others (DFSA, FSCA and FSA) haven't issued any license whatsoever to Cash Forex Cluster. Therefore not only Money FX Group is not regulated at all, it conjointly is lying huge time regarding its regulatory status.

The fact is that it's no license whatsoever, so it cannot supply investment services legally in most countries.

This is often conjointly why they want you to deposit cryptocurrencies, they wish to remain as anonymous as potential, so that they will run away along with your cash.
Regulatory warning

Not long when we have a tendency to printed our analysis, the Financial Conduct Authority (financial regulator in Nice Britain) came up with its own warning.

The regulator said that CashFX is providing investment services without the mandatory authorization and advised the public to remain off from it. This is often a very serious argumentBiTQT.

It'd be terribly unwise to deposit money with an unregulated and basically anonymous entity, as a result of it would not be protected in any means. No matter where the cash finally ends up, this program is promising you impossible returns on investments, which in itself confirms that something is wrong.
How it works

Let’s end this Cash Forex Group review by explaining the essential principle of this investment program. It's a Ponzi theme that does no real economic activity. It just collects money from individuals and may pay out some profits, but the most recent clients’ deposits can be used for that.

This will have an inevitable outcome, the system can sooner or later crumble. It's simply a matter of your time when there can be not enough deposits to hide withdrawals and also the inevitable end can

Nobody has not been paid, that is NOBODY ….. after all you can't compound or upgrade your CFX account unless you withdraw (get paid) …. CFX are not regulated…. as a result of they use a Regulated broker (everfx) to trade…so that information is also incorrect…and judging by the actual members comments….I’d say, members are happy….. long might that continue. BUT, you must never place in more than you are prepared to lose (In SOMETHING). However do correct analysis, ask

members, don’t rely on people that play safe and stay poor. Do your own due diligence. (ps MOST sites that decision each business out as a scam…have their own links…..promoting guess what ? ….tip. SCAMS ! Beware.

https://www.cryptoerapro.com/bitqt/


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submitted by bitqtadvantage to u/bitqtadvantage [link] [comments]

MT5 international foreign exchange trading platform, recently the foreign exchange gold market is also on the rise

What is the foreign exchange market?Foreign exchange market (FOREx market) refers to the place or network where foreign exchange transactions take place.Mainly between local currency and foreign currency, foreign exchange transactions between different currencies.The foreign exchange market can be divided into two parts, namely the inter-bank foreign exchange market and the retail foreign exchange market.Interbank foreign exchange market can also be acquired as an inter-bank wholesale foreign exchange market, which is the uppermost market in foreign exchange transactions and the market for foreign exchange transactions among Banks, forming a relatively centralized foreign exchange market.In the interbank market, there is no such thing as margin trading.Retail forex market refers to the market between forex trading institutions and their clients. The most basic class in this market is individual traders, characterized by wide and dispersed distribution.
The modern international foreign exchange market is generally distributed in major cities in the world, such as London, New York, Paris, Vertical, Zurich, Wellington, Tokyo, Singapore, Hong Kong and other world-famous financial centers and foreign exchange centers. The interconnections and influence of these centers form a foreign exchange network covering the whole world.Due to time zones and time differences, such a horizontal global market is almost always open and close one after another, forming a circular 24-hour foreign exchange market.In the global market, the UK, the US, Singapore, Hong Kong and Japan accounted for 77% of the global forex trading volume.At present, China's foreign exchange market is a market system centered on the inter-bank market.
In the foreign exchange market, the exchange rate fluctuation refers to the exchange rate of changing currencies. The change in exchange rate is the decrease in the value of one currency and the increase in the value of another currency.A currency does not become a waste of paper, or even a dwindling currency, but it will always represent a certain value, unless the abolition of the currency is declared.You've had negative interest rates, you've had a plunge in stocks, you've had zero futures, you've had real estate, you've had a question mark as an investment hedge, and in many cases rents may not be worth the mortgage index.For domestic investors, the currency market is the most "clean" speculative market with little risk but great opportunity.
Investors need not bother in the performance of each stock, futures long-short don't have to worry about both sides of the insider trading, daily turnover of huge, make any also does not have the dealer's courage, soros, buffett can learn about the information, as well as ordinary investors can learn, global investors and speculators are in the same time looking at the same price and graphics, several thousands of marketmakers network trading platform and the world millions of investors and speculators have together.
submitted by kelly19981001 to investing [link] [comments]

With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today

With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today



By signing up, you may receive emails concerning CoinDesk products and you agree to our terms & conditions and privacy policSTER ON THE SITE
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Bitcoin Trader is a trading robot powered by cutting-edge AI technology. We have a tendency to have a possible daily return on investment of up to four hundredp.c. We have a tendency to have over five thousand reviews on TrustPilot, and at least 90percent of our reviewers are happy with our platformn
Are there hidden fees with Bitcoin Trader?
Our fees are fully transparent. You can download a listing of trading fees from the platform’s management dashboard. We have a tendency to only charge a little commission on profits earned through our trading robot
We have a tendency to settle for registrations from over a hundred thirty countries across the world. Most of our purchasers are from the UK, the US, some elements of Africa, and Asia. We have a tendency to are on the market in your country if you can access our Bitcoin Trader website while not employing a VPN.

We aim to assist normal people reap important returns from cryptocurrency trading. With us, you get exposure to over forty five Bitcoin contracts for variations (CFDs). Common crypto pairs you'll trade with us embrace BTC/USD, BTC/GBP, BTC/EUR, and BTC/XRP.

1) Register: Registering with the Bitcoin Trader app is straightforward. Scroll to the high of this page and submit the specified details through the registration kind.

We require users to verify your phone range and email, since this is often what you'll use for multi-factor authentication. Yet, our partner brokers verify the identity of all users per regulators’ understand your customer (KYC) requirements.

a pair of) eposit: You wish to deposit a minimum of $250 US to trade with the Bitcoin Trader software. We tend to depend on our partner brokers to facilitate transactions, and all of our partners are absolutely regulated by government authorities. With regulated brokers, you'll rest simple knowing that your funds are safe.
You'll fund your account through wire transfer, MoneyGram, Western Union, FasaPay, Visa, MasterCard, Neteller, WebMoney, and Skrill.


three) Trading Education and Demo: We have a tendency to are an auto-trading robot, however we have a tendency to do enable our users some level of management, especially when it comes to risk management. Consequently, our Bitcoin Trader official website encourages you to travel through our trading education section to familiarize yourself with the chance management process.
Our highly intuitive demo platform ought to additionally facilitate your observe trading with the robot before you begin trading during a live account Bitcoin Freedom

The platform needs that you just define the trading conditions for the robot and activate the live trading session button. We have a tendency to encourage you to depart the robot running throughout the day within the background. You'll be able to let it run unmonitored for up to eight hour
We tend to have recently been nominated as the most profitable robot for BTC trading in 20twenty. Moreover, we are one of the trading robots that has been extensively covered by mainstream media. Bitcoin Trader has thousands of reviews on client feedback platforms
Bitcoin Trader was one amongst the primary robots to use high-frequency trading techniques to BTC trading. The robot was founded in 2015, nearly two years before the crypto boom in 2017.
Bitcoin Trader uses AI and ML to create sense of big knowledge, which allows it to trade with high accuracy.
Our trading platform became an on-line sensation in mid-2017, and it has maintained its popularity since then. Bitcoin Trader is the simplest possibility for many beginner and experienced traders.
Bitcoin Trader allows you to earn a daily profit of up to $1,00zero by investing simply $250. That’s a potential return on investment of up to four hundredpercent.
Do celebrities recommend the Bitcoin trader software?

https://preview.redd.it/6i2yjm7sz9j51.jpg?width=1280&format=pjpg&auto=webp&s=b94d3dd01aaff2d7d4230f81176913586c729aef
We tend to are highly widespread and hence a prime target for celebrity gossip. There are viral rumours that we have a tendency to have been endorsed by Elon Musk, Richard Branson, and Jeff Bezos.

Elon Musk – The founder of SpaceX has invested in Bitcoin and expressed interest in artificial intelligence, however he has not invested employing a trading robot.
Richard Brandson – Branson is another celebrity alleged to own invested using Bitcoin Trader. While it's true that he loves Bitcoin and blockchain technology, he hasn’t endorsed any trading robot.
Jezz Bezos – Bezos is also a big fan of emerging technologies, however he hasn’t shown any interest in BTC trading through revolutionary robots like Bitcoin Trader.

You ought to never build an investment decision based mostly on whether or not a star has endorsed or invested in it. Bitcoin Trader has been tested and licensed by specialists.

The verdict about Bitcoin Trader
We tend to are a prime-rated crypto trading robot with nice reviews on sites like TrustPilot and ForexPeaceArmy. Moreover, we have been recognized as legit and profitable by authoritative bodies like the US Trading Association.

We have a tendency to are always striving to offer the most effective to our users by regularly improving our trading platform. Our team of experts analyzes feedback from users to work out what features will create a a lot of seamless trading experience. We tend to operate in complete transparency, having partnered with some of the world’s most reputable brokers.

Our platforms are encrypted to shield you from hackers. Furthermore, we tend to also adhere to information privacy measures, like the General Information Protection Regulation (GDPR). Try out Bitcoin Trader currently through the link at the high right corner of this page.
perior over different cryptocurrencies?
LATESTBITCOINETHEREUMALTCOINSTECHNOLOGYADOPTIONBLOCKCHAINEVENTSCONTACT
PRESS RELEASEWhy is Bitcoin superior over different cryptocurrencies?Akshay KSPublished a pair of weeks agoon August 12, 2020By Akshay KS
Source: Pixabay
During this technical world, bitcoin is the foremost used digital currency all over the world. However the main question then arises within the minds of the many folks is why bitcoin is considered the foremost superior over other cryptocurrenc Bitcoin Freedom
Bitcoin is that the one method of creating transactions daily as alternative currencies. But it's its options and uniqueness that make it superior. Bitcoin and different currencies are based mostly on the cryptographic algorithms or mathematics that are encrypted, with that the user becomes the owner of the currency. Bitcoin currencies are easily accessible at Bitcoin ATM and online exchange
The main feature of the bitcoin, which makes it superior is that it is the safest option for digital transactions. These will be used for on-line searching and transfer of money too.
There are many alternative blessings to using bitcoin. A number of them are mentioned below
Decentralized and digital
Bitcoin offers the freedom of exchanging the price without representatives that proves helpful in controlling the lower fees and high funds. Bitcoin is that the faster method of transaction than others. It is secure as it is free from theft and frauds and is constant. The main advantage is that bitcoin has its homeowners whereas the bank controls the money.
Makes online looking
Normally, bitcoin will be used for on-line shopping too. Bitcoin is the opposite face of e-wallet, that is created by blockchain technology that is used to store money and will easily pay everywhere digitally. For this reason, it also makes your searching easy by which you'll be able to look from your home solely

Bitcoin is accepted globally at each corner of the planet, which makes it less volatile than local currencies or cash. This feature makes it superior because it enables us to form transactions on-line and across the boundaries
Bitcoin unable the means of tracking cash

https://preview.redd.it/4vpws3gtz9j51.jpg?width=1280&format=pjpg&auto=webp&s=179af0fcc33f85322d48b6be65fce2e4442c6cd6
Bitcoin is created by blockchain technology. Blockchain is the sole technology which will either make it or break it. There are many computers which are used to keep up a permanent record of each bitcoin transactions with the help of cryptographic technique. In this approach, it becomes a lot of valuable together with the tracking of the payment. At the same time, there's no method of tracking the cash

While not any transformation method, it will be used over the entire world. It provides the simplest platform for the investment as it is free from the restrictions of governments or banks. It provides an open market and combines the simplest of gold and money.

Bitcoin provides the power to access the balance of the users with a password which is named a personal key. It additionally permits the exchange of values through the web without any middle person. Thus, bitcoin becomes safer, stuffed with privacy, and open to everyone
Unlike cash, it is not possible to form the duplicate quite bitcoin that makes it more efficient. It's protected with the technology of blockchain. Even if anyone tries to form a replica of bitcoin to use it, then the system will automatically reject it as the system recognize it as unknown

Bitcoin Freedom failed to allow two persons to transact on the one price. Once the bitcoin is transferred, its possession is also transferred. So this is the simple approach of maintaining records for any tax functions. It conjointly makes it a easy and healthier metho

Bitcoin is the foremost reliable manner of online transactions. Many questions arise in folks’s minds that are solved on websites like bitcoin revolution. One in all them was the above-mentioned question. Bitcoin provides many facilities, and it comes with more and a lot of blessings which makes it distinctive and special over different cryptocurrencies. It can be preferred as the simplest digital platform for transac


BITCOINADOPTIONABOUT USMEET THE TEAMCAREERADVERTISE WITH USCONTACT USTERMS AND CONDITIONSPRIVACY POLICYPARTNERS
Disclaimer: AMBCrypto US and UK Market's content is informational in nature and is not meant to be investment advice. Buying, trading or selling crypto-currencies ought to be considered a high-risk investment and every reader is advised to do their due diligence before making any decisions.
People, businesses, and developers: get the support you would like with our straightforward

Browse the FAQ'sn news, CoinDesk is a media outlet that strives for the very best journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sign up with Bitcoin Trader nowadays to start out earning potentially thousands of greenbacks in profits daily from an initial investment of just $250. We tend to are a high-rated automated trading robot that's accessible and easy for all to use. By trading with Bitcoin Trader, you'll start generating a lot of investment income than ever beforeBitcoin Freedom

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With the Bitcoin Trader software, you can probably build up to $one,500 daily from a deposit of $250. We tend to are powered by artificial intelligence technology to confirm that you just get a win rate of more than 98p.c under the right market conditions. The US Trading Association has nominated our Bitcoin Trader as the most profitable crypto trading robot on the market.
We have invested in the globe’s best trading technologies. These include the factitious intelligence subsets of natural language processing, deep learning, and machine learning. Bitcin Trader depends on these technologies to derive insights from huge data and market news.
The Bitcoin Trader app has won nearly fifteen coveted awards since launching in 2016. These include the most Profitable Robot 2020 award by the American Trading Association, the simplest Robot in Trading Technologies 2019 award, and the most Profitable Crypto Robot in 2018 Award. We have a tendency to price our customers and are contin
https://www.cryptoerapro.com/bitcoin-freedom/
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

dux forex

3) More Than leveraged - Leverage is a two way street. The Currency is half a commerce; failure or success depends upon being about the money that makes up the set. Profit targets will produce the agent rich. The desire to"only" make a couple hundred dollars per day by bending in miniature profits whenever possible will be a losing approach. A cost fast becomes a high cost when you're trading from the trend. Two ) Overtrading - trading with tiny and tight stops 4) Determined by Others -- Actual investors play a lone hand; they Brokers want you to work with leverage since that means more disperse income because your position dimension determines the quantity of spread income; the bigger the position the spread income the broker earns. Traders, and hedge funds have a enormous advantage they could push the currencies round when no volume is currently going through and the ending game is new traders get fleeced attempting to exchange signs best forex brokers in uk.
There is just one signal during off hours – stay out. Trading plan is a blueprint for trading success; it spells out everything you see your edge as being; if you don't have an advantage, you do not have a plan, and likely you'll wind up a statistic (portion of this 95% of traders that lose and quit). 1) Knowledge Deficiency -- Many new FOREX traders do Not take Make their own conclusions and do not rely on others to make their trading decisions for themthere is not any halfway; either trade for yourself or have someone else exchange for you. Agents is a recipe for disaster. When you place on a commerce commit to a stop loss limit which enables your trade a fair opportunity to develop. 9) No Trading Strategy - earn money is not a trading plan brokers reviews.
A 7) Trading Through Off Hours -- Bank FX traders, option The time to find out what pushes money rates (mostly fundamentals). When news or a statement is because they have to close out their positions and also sit out the very best trading opportunities. Following the market calms down, they are taught to only trade. So they overlook the entire move and trade the random sound that follows a cost move that is fundamental. About trading the aftermath of a price movement, just think for a minute . 8) Trading a Currency, Not a Demo -- Becoming right about a Sorts; they are not as time sensitive as actual accounts and so give the impression that time sensitive trading systems, such as average crossovers can be constantly profitably traded; after you start dealing with real cash reality is fast to set in. Difference between buying and buying. What was 5) Stop Losses -- Putting tight stop losses with retail top forex brokers
submitted by usamaali5050 to u/usamaali5050 [link] [comments]

forex factory

In addition, in Forex, with a little bit of money, you are able to control bigger market positions using the leverage or margin trading. Effect of 1:100 is common in the Fore marketplace. It permits you to control numbers 100 times bigger than your capital, whilst leverage of 1:1000 and 1:500 are available with a few businesses that are offshore. The Forex market can be traded anyplace and everywhere. As long as you have access to web and a pc, you have the ability to trade the Forex market. An important issue to consider before leaping to trading currencies is it is worth practicing with"paper money", or"fake money", online demo account. Most foreign exchange agents have demo accounts where you are able to download their trading system and training in real-time with real market information but with"virtual currency". While profitable demonstration trading cannot guarantee your success with real money. best forex brokers

There are numerous advantages of the Forex market over several kinds of financial trading. There is 1 type that springs to mind, when speaking about different investments that are accessible to everyone. Even the Forex or foreign exchange market has many advantages over other types of trading. Because it is an OTC (over-the-counter) market, the Forex market is open 24 hours daily, unlike the regular stock or commodity markets. Most investments require a substantial quantity of money until you're able to make the most of this investment opportunity. Everyone can enter the marketplace with just as little as 1 to trade a"micro account", which enables you to open positions of 1,000 units. One lot of 1,000 units of currency is equivalent to 1 contract from account that is micro. Each"pip" or"tick" (lowest currency rate movement down or up ) is worth $0.10 profit or decrease, depending on wheather you are going with the Marketplace or against it Forex is among the most liquid markets. best forex brokers in uk
When trading currencies on the spot Forex market you've got complete control of your capital, which means that you can purchase and sell your positions anytime throughout market stage. This is a definite benefit because, if you will need to utilize your account cash, it may be obtained without additional commission or waiting intervals. Many different sorts of investments need holding up your money . Forex dealers may be profitable in bullish or bearish market conditions. Stock market traders want stock prices to grow to be able to take a profit, since short-selling is an issue to limits in stock trades. Forex dealers may produce a profit . Forex Currency trading is considered risky but with a trading platform that was fantastic to very decent money management skills, and a certain level of self-discipline, the risks of Forex trading can be lessened. brokers reviews
submitted by elzajohn265 to u/elzajohn265 [link] [comments]

Funds operated in EUR and subject to forex fluctuation into GBP: what are the risks?

Title explains most of it. There are some funds out there which state that they are operated in foreign currencies. Example: Many of Triodos' funds, which have the following caveat:
The fund is operated in euros, but we’ve priced it in sterling for UK investors, so your return is subject to the sterling to euros exchange rate.
You're also exposed to currency fluctuations in regions the fund invests in, and any changes in exchange rates may affect the value of your investment.
Part of me thinks this isn't a problem, surely any fund that isn't solely invested in UK businesses is therefore having to deal with forex risk, let alone huge global funds, and that this is perfectly normal. On the flipside, being exposed to principally one other currency's fluctuation seems riskier as you can't spread that risk across many.
Am I being barmy?
(and no, you're not allowed to reply "yes" just because I'm thinking about a so-called 'ethical' S&S ISA...) ;)
submitted by drylosswheathands to UKPersonalFinance [link] [comments]

How to buy pounds right now?

Hey all, I'm an American who will be attending UCL this fall in a postgrad program (assuming we have moved past the COVID crisis by then, which may be unlikely?).
Anyway, unfortunately for everyone else but fortunately for me, the pound just dropped majorly in value against the dollar (I'm really sorry, I know y'all are hurting, and all of our lives have been turned upside down!). I know I am about to have to pay for tuition in a foreign currency that's stronger than the dollar, so I'd really like to cash in on a good exchange rate and exchange a lot of money right now. I'm talking at least $50k.
Anyone know how to do this? I talked to my own banker here in the USA and he wasn't sure, besides opening up a UK bank account and wiring money over. Can I get a UK bank account if I'm not a resident/visa older? Any other ways I can access forex?
submitted by TheOneTrudoG to UKPersonalFinance [link] [comments]

UK tax laws in 2020 - how do they apply to stablecoin lending/borrowing?

Hi All,
I had a quick search on the sub for UK Tax threads, couldn’t find much within the last year so I’ve come to ask about a specific use case.
My plan:
I found two articles on UK tax laws re-crypto assets with a breakdown of how to calculate capital-gains-tax in a few scenarios here for a very neat breakdown by use case and this one - both from November 2019.
Given my plan above, I feel like all I’m doing is effectively
I won’t be speculating on the price of any crypto asset, because the only crypto I will hold will be pegged to the USD. If this whole thing is treated as an asset trade and taxed as Capital-Gains, does that mean I should be checking to see what the difference in rate of exchange is between USD/GBP at time of exchange and eventual time of exchange back and paying CGT based on that? Presumably one doesn’t normally need to do this when exchanging fiat for fiat and back again?
Do I need to pay any specific tax on the interest earned whilst lending the stablecoin? Would this be taxed as income? Does this also mean I get taxed twice (on the interest earned, and the FOREX change when going back to GBP fiat?
TBH, I’m not planning on doing this for any huge amount at least to start with, maybe £1000 GBP. I am a higher rate tax payer for income (40%) , so I’m keen to know what personal allowances get impacted by this, and whether it’s worth it all to achieve the interests rates available for lending via apps like Compound compared to fiat savings accounts and other alternatives like P2P.
Thanks for any advice help!
submitted by reddorical to CryptoCurrency [link] [comments]

University Student asking for comments on his strategy.

Hello, I am a first-year university student (BSc Finance and Banking), I have recently opened a Revolut account and I have noticed that even with the standard plan I can exchange currencies without fees at real current exchange prices. Since I am an Italian guy studying in the UK I frequently have to change money from EUR to GBP, however, I have noticed that the daily range for EUR to GDP seems to vary by about ±0,02, this would allow me to nearly daily trade. Here is my thought, if I buy EUR when they are at the daily low and I sell them at the daily high I would make a profit of ±20£ a day only trading 1000£ for the first trade .Even if the EUR does not increase in value after I buy them, I would still hold the as I need anyway when I go back to Italy, of course, I have more than 1000£ so I wouldn't need to exchange EUR for GBP at bad rates just to afford daily expenses, this would give me time to wait for the value of EUR to rise again.
I am probably talking about obvious stuff for you but, I am new to Forex and I would like to understand more of it. It would be very helpful if you could comment on what I plan on doing.
Thanks and I am sorry if the explenation is not very clear.
submitted by BlackWolf_ITA to Forex [link] [comments]

US Venezuela Policy is About Oligarchy, Not Democracy

US Venezuela Policy is About Oligarchy, Not Democracy

The proven oil reserves in Venezuela are recognized as the LARGEST in the world, totaling 297 billion barrels.
While ignoring (and even supporting) the atrocities of authoritarian regimes in places like Saudi Arabia, Bahrain and Uzbekistan, US oligarchs have targeted Venezuela for “regime-change” in the name of “democracy”.
Currently, the US is engaging in economic warfare against Venezuela to foment a coup and remove its democratically elected president Nicolás Maduro.
Without providing solid evidence, our corporate-controlled government and mainstream media portray Maduro as a corrupt, repressive, and illegitimate leader with little to no support.

Ask yourself:

Do I ever see officials from the Venezuelan government appear in corporate news shows to tell THEIR side of the story?
What people DO get to comment on Venezuela and what are their credentials and agenda? Are these people essentially public relations agents for the US-orchestrated coup?
Does corporate news provide me with historical background of US imperialism in Venezuela to put these current events in context?

What Corporate-Controlled Media will NOT Tell You

The CIA was involved in the failed coup against Venezuela's popular leader Hugo Chavez in 2002.
Venezuela is not a strictly socialist country; it has a “mixed” economy - not unlike Norway or other Scandinavian countries.
Venezuela is a DEMOCRACY - unlike US-allies Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, and Kuwait.
In 2012, Jimmy Carter went on record saying:
“As a matter of fact, of the 92 elections that we've monitored, I would say the election process in Venezuela is the best in the world”
The opposition to Maduro knew they were going to lose the last election and so boycotted it in attempt to delegitimize the results.
The US actually tried to dissuade Maduro’s opponents from running!
Maduro invited international observers into the country in 2018 to monitor the last election but the opposition asked the UN not to send observers!
More than 80% of the Venezuelan population had not even HEARD of Juan Guaidó before Trump and the US state proclaimed him the “rightful” president.
Maduro’s approval ratings within his country are on par with opposition-controlled National Assembly. According to an October poll by opposition-aligned pollster Datanalisis, Venezuela's National Assembly, of which Juan Guaidó is president, has a disapproval rating of 70%.
Venezuela WANTS to sell its oil to the US – the US is their largest market and refines a majority of their oil.
US companies Chevron Corp, Halliburton, Schlumberger, Baker Hughes and Weatherford International all have operations in Venezuela, and are allowed to continue to engage in transactions and activities with PDVSA and its joint ventures through July 27.
“No State or group of States has the right to intervene, directly or indirectly, for any reason whatever, in the internal or external affairs of any other State. The foregoing principle prohibits not only armed force but also any other form of interference or attempted threat against the personality of the State or against its political, economic, and cultural elements.” Organization of American States Charter

Why is the US Corporatocracy so Keen to Remove Maduro?

While Venezuela’s economy is not a strictly-state-run economy, its oil industry is nationalized and uses its revenues for the benefit of its citizens (especially the poor).
After years of crippling US sanctions Maduro stepped over a crucial line in October when his government announced that Venezuela was abandoning the US dollar and would be make all future transactions on the Venezuelan exchange market in euro.
Saddam Hussein also went off the dollar in favor of the euro in 2003 – we started dropping bombs on him the next month.
A similar decision by the Gadhafi government in Libya (2011) was quickly followed by a devastating US-orchestrated conflict - culminating in Gadhafi's capture by radical Islamists who sodomized him with a bayonet before killing him. Since then, Libya has gone from Africa's wealthiest country to a truly failed-state complete with a slave trade! To make matters worse, after the collapse of the Libyan government, its military arms were smuggled out of that country and into the hands of ISIS fighters in Iraq and Syria - enabling US-orchestrated chaos in those countries.

Who cares what currency a country uses to trade petroleum?

Answer: US oligarchy

The US dollar is central to US world economic domination.
Like all other modern currencies, it is a fiat currency – backed by no real assets to prop up its value.
In lieu of a “gold standard” we know operate on a de-facto “oil-standard”:
"After the collapse of the Bretton Woods gold standard in the early 1970s, the United States struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a paradigm shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.
The petrodollar system elevated the U.S. dollar to the world's reserve currency and, through this status, the United States enjoys persistent trade deficits and is a global economic hegemony." Investopedia
“The central banking Ponzi scheme requires an ever-increasing base of demand and the immediate silencing of those who would threaten its existence. Perhaps that is what the hurry [was] in removing Gaddafi in particular and those who might have been sympathetic to his monetary idea.” Anthony Wile

US Foreign Policy is about Oligarchy Not Democracy

Since World War II, the US has attempted to over-throw the 52 foreign governments. Aside from a handful of exceptions (China, Cuba, Vietnam, etc.), the US has been successful in the vast majority of these attempts.
US foreign policy is not about democracy – it is about exploiting the world’s resources in the interests of a small, ultra-wealthy global elite.
This exploitation benefits a small percentage of people at the top of the economic pyramid while the costs are born by those at the bottom.

US CIA Coup Playbook:

How to Plunder Resources from Foreign Countries While Pretending to Support Democracy
  1. Find a country with resources you want.
  2. Send in an “Economic Hitman” to offer bribes the country’s leader in the form of personally lucrative business deals. If he accepts the deal, the leader will amass a personal fortune in exchange for "privatizing” the resources you wish to extract.
If the leader will not accept your bribes, begin the regime-change process.
3) Engage in economic warfare by imposing crippling sanctions on the country and blame the ensuing shortages on the leader’s “socialist” policies.
4) Work with right-wing allies inside country to fund and organize an “astroturf” opposition group behind a corporate-friendly puppet.
5) Hire thugs inside country to incite unrest and violence against the government in coordination with your opposition group. Use corporate media to publicize the orchestrated outbursts as popular outrage and paint a picture of a “failed state” mired in corruption and chaos.
6) When the government arrests your thugs, decry the response as the brutal repression. Use corporate-owned media to demonize the target government as a despotic regime while praising your puppet opposition as champions of democracy.
7) Work with right-wing military leaders to organize the overthrow the government (offer them the same business deals the current leader refused).
8) If a military-led coup cannot be organized, create a mercenary army to carry out acts of terrorism against the government and its supporters. Portray the mercenaries as “freedom fighters” and their acts of terrorism as a “civil war”.
9) If the target government has popular and military support and is too well-defended for your mercenaries to over-throw: label the country a “rouge state” and wait for the right time to invade. Meanwhile, continue to wear the country’s government and populace down using steps 3 – 8.
10) Escalate the terror campaign within the country to provoke a military response from the country against the US. If they won’t take the bait , fabricate an attack or threat that you can sell to the US population as justification for an invasion.
11) Once the government is removed, set up your puppet regime to provide the illusion of sovereignty. The regime will facilitate and legitimize your appropriation of the country’s resources under the guise of "free" trade.
12) As you continue to extract the country’s resources, provide intelligence and military support to the puppet regime to suppress popular dissent within the country.
13) Use the demise of the former government as yet another example of the impracticality of “socialism.”
What Can I Do?
Call your senators and representatives to voice your opposition to US regime-change efforts in Venezuela.
https://www.commoncause.org/find-your-representative/
Please share this message with others.
Sources included at: https://link.medium.com/8DiA5xzx4T

‘Venezuela’: Media’s One-Word Rebuttal to the Threat of Socialism

ALAN MACLEOD FEBRUARY 8, 2019
A recent Gallup poll (8/13/18) found that a majority of millennials view socialism favorably, preferring it to capitalism. Democratic socialist Bernie Sanders is the most popular politician in the United States, while new leftist Rep. Alexandria Ocasio-Cortez’s (AOC) policies of higher taxes on the wealthy, free healthcare and public college tuition are highly popular—even among Republican voters (FAIR.org,1/23/19).
Alarmed by the growing threat of progressive policies at home, the establishment has found a one-word weapon to deploy against the rising tide: Venezuela. The trick is to attack any political figure or movement even remotely on the left by claiming they wish to turn the country into a “socialist wasteland” (Fox News, 2/2/19) run by a corrupt dictatorship, leaving its people hungry and devastated.
Leading the charge have been Fox News and other conservative outlets. One Fox opinion piece (1/25/19) claimed that Americans should be “absolutely disgusted” by the “fraud” of Bernie Sanders and Democrats like Alexandria Ocasio-Cortez, Elizabeth Warren and Cory Booker, as they “continue to promote a system that is causing mass starvation and the collapse of a country,” warning that is exactly what their failed socialist policies would bring to the US. (Back in the real world, while Sanders and Ocasio-Cortez identify as socialists, Warren is a self-described capitalist, and Booker is noted for his ties to Wall Street, whose support for his presidential bid he has reportedly been soliciting.) A second Fox Newsarticle (1/27/19) continues in the same vein, warning that, “At the heart of Venezuela’s collapse is a laundry list of socialist policies that have decimated its economy.”
The Wall Street Journal (1/28/19) describes calls for negotiations in Venezuela as “siding with the dictator.”
In an article entitled “Bernie Sanders, Jeremy Corbyn and the Starving Children of Venezuela,” the Washington Examiner (6/15/17) warned its readers to “beware the socialist utopia,” describing it as a dystopia where children go hungry thanks to socialism. The Wall Street Journal (1/28/19) recently condemned Sanders for his support of a “dictator,” despite the fact Bernie has strongly criticized Venezuelan President Nicolás Maduro, and dismissed Maduro’s predecessor, Hugo Chavez, as a “dead Communist dictator” (Reuters, 6/1/16).
More supposedly centrist publications have continued this line of attack. The New York Times’ Bret Stephens (1/25/19) argued: “Venezuela is a socialist catastrophe. In the age of AOC, the lesson must be learned again”—namely, that “socialism never works,” as “20 years of socialism” has led to “the ruin of a nation.” The Miami Herald(2/1/19) cast shame on Sanders and AOC for arguing for socialism in the face of such overwhelming evidence against it, describing the left’s refusal to back self-appointed president Juan Guaidó, someone whom less than 20 percent of Venezuelans had even heard of, let alone voted for, as “morally repugnant.”
This useful weapon to be used against the left can only be sustained by withholding a great number of key facts—chief among them, the US role in Venezuela’s devastation. US sanctions, according to the Venezuelan opposition’s economics czar, are responsible for a halving of the country’s oil output (FAIR.org, 12/17/18). The UN Human Rights Council has formally condemned the US and discussed reparations to be paid, with one UN special rapporteur describing Trump’s sanctions as a possible “crime against humanity” (London Independent, 1/26/19). This has not been reported by any the New York Times, Washington Post, CNN or any other national US “resistance” news outlet, which have been only too quick to support Trump’s regime change plans (FAIR.org, 1/25/19).
Likewise, the local US-backed opposition’s role in the economic crisis is barely mentioned. The opposition, which controls much of the country’s food supply, has officially accepted responsibility for conducting an “economic war” by withholding food and other key goods.
For example, the monolithic Empresas Polar controls the majority of the flour production and distribution crucial for making arepa cornbread, Venezuela’s staple food. Polar’s chair is Leopoldo Lopez, national coordinator of Juan Guaidó’s Popular Will party, while its president is Lorenzo Mendoza, who considered running for president against Maduro in the 2018 elections that caused pandemonium in the media (FAIR.org, 5/23/18).
Conspicuously, it’s the products that Polar has a near-monopoly in that are often in shortest supply. This is hardly a secret, but never mentioned in the copious stories (CNN, 5/14/14, Bloomberg, 3/16/17, Washington Post, 5/22/17, NPR, 4/7/17) focusing on bread lines in the country.
Also rarely commented on was the fact that multiple international election observer missions declared the 2018 elections free and fair, and that Venezuelan government spending as a proportion of GDP (often considered a barometer of socialism) is actually lower than the US’s, and far lower than most of Europe’s, according to the conservative Heritage Foundation.
The London Daily Express (2/3/19) demonstrates that redbaiting works equally well on either side of the Atlantic.
Regardless of these bothersome facts, the media has continued to present Venezuela’s supposedly socialist dictatorship as solely responsible for its crisis as a warning to any progressives who get the wrong idea. So useful is this tool that it is being used to attack progressive movements around the world. The Daily Express (2/3/19) and Daily Mail (2/3/19) condemned UK Labour Party leader Jeremy Corbyn for his “defense” of a “dictator,” while the Daily Telegraph(2/3/19) warned that the catastrophe of Venezuela is Labour’s blueprint for Britain. Meanwhile, the Greek leftist party Syriza’s support for Maduro (the official position of three-quarters of UN member states) was condemned as “shameful” (London Independent, 1/29/19).
“Venezuela” is also used as a one-word response to shut down debate and counter any progressive idea or thought. While the panel on ABC’s The View (7/23/18) discussed progressive legislation like Medicare for All and immigration reform, conservative regular Meghan McCain responding by invoking Venezuela: “They’re starving to death” she explained, leaving the other panelists bemused.
President Trump has also used it. In response to criticism from Senator Elizabeth Warren over his “Pocahontas” jibe, he replied that she would “make our country into Venezuela” (Reuters, 10/15/18).
The weapon’s effectiveness can only be sustained through a media in lockstep with the government’s regime-change goals. That the media is fixated on the travails of a relatively small and unimportant country in America’s “backyard,” and that the picture of Venezuela is so shallow, is not a mistake. Rather, the simplistic narrative of a socialist dictatorship starving its own people provides great utility as a weapon for the establishment to beat back the domestic “threat” of socialism, by associating movements and figures such as Bernie Sanders, Alexandria Ocasio-Cortez and Jeremy Corbyn with an evil caricature they have carefully crafted.

Corporate Propaganda Blitz Against Venezuela’s Elected President: MSM Will Not Let Facts Interfere With Coup Agenda

Facts Don’t Interfere With Propaganda Blitz Against Venezuela’s Elected President Joe Emersberger
Guaidó, anointed by Trump and a new Iraq-style Coalition of the Willing, did not even run in Venezuela’s May 2018 presidential election. In fact, shortly before the election, Guaidó was not even mentioned by the opposition-aligned pollster Datanálisis when it published approval ratings of various prominent opposition leaders. Henri Falcón, who actually did run in the election (defying US threats against him) was claimed by the pollster to basically be in a statistical tie for most popular among them. It is remarkable to see the Western media dismiss this election as “fraudulent,” without even attempting to show that it was “stolen“ from Falcón. Perhaps that’s because it so clearly wasn’t stolen.
Graph: Approval Ratings of Main Venezuelan Leaders Nov 2016 - July 2018 Data from the opposition-aligned pollsters in Venezuela (via Torino Capital) indicates that Henri Falcón was the most popular of the major opposition figures at the time of the May 2018 presidential election. Nicolás Maduro won the election due to widespread opposition boycotting and votes drawn by another opposition candidate, Javier Bertucci.
The constitutional argument that Trump and his accomplices have used to “recognize” Guaidó rests on the preposterous claim that Maduro has “abandoned” the presidency by soundly beating Falcón in the election. Caracas-based journalist Lucas Koerner took apart that argument in more detail.
What about the McClatchy-owned Miami Herald's claim that Maduro “continues to reject international aid”? In November 2018, following a public appeal by Maduro, the UN did authorize emergency aid for Venezuela. It was even reported by Reuters (11/26/18), whose headlines have often broadcast the news agency’s contempt for Maduro’s government.
It’s not unusual for Western media to ignore facts they have themselves reported when a major “propaganda blitz” by Washington is underway against a government. For example, it was generally reported accurately in 1998 that UN weapons inspectors were withdrawn from Iraq ahead of air strikes ordered by Bill Clinton, not expelled by Iraq’s government. But by 2002, it became a staple of pro-war propaganda that Iraq had expelled weapons inspectors (Extra! Update, 10/02).
And, incidentally, when a Venezuelan NGO requested aid from the UN-linked Global Fund in 2017, it was turned down. Setting aside how effective foreign aid is at all (the example of Haiti hardly makes a great case for it), it is supposed to be distributed based on relative need, not based on how badly the US government wants somebody overthrown.
But the potential for “aid” to alleviate Venezuela’s crisis is negligible compared to the destructive impact of US economic sanctions. Near the end of the Miami Herald article, author Jim Wyss cited an estimate from the thoroughly demonized Venezuelan government that US sanctions have cost it $30 billion, with no time period specified for that estimate. Again, this calls to mind the run-up to the Iraq invasion, when completely factual statements that Iraq had no WMDs were attributed to the discredited Iraqi government. Quoting Iraqi denials supposedly balanced the lies spread in the media by US officials like John Bolton, who now leads the charge to overthrow Maduro. Wyss could have cited economists independent of the Maduro government on the impact of US sanctions—like US economist Mark Weisbrot, or the emphatically anti-Maduro Venezuelan economist Francisco Rodríguez.
Illegal US sanctions were first imposed in 2015 under a fraudulent “state of emergency” declared by Obama, and subsequently extended by Trump. The revenue lost to Venezuela’s government due to US economic sanctions since August 2017, when the impact became very easy to quantify, is by now well over $6 billion. That’s enormous in an economy that was only able to import about $11 billion of goods in 2018, and needs about $2 billion per year in medicines. Trump’s “recognition” of Guaidó as “interim president” was the pretext for making the already devastating sanctions much worse. Last month, Francisco Rodríguez revised his projection for the change in Venezuela’s real GDP in 2019, from an 11 percent contraction to 26 percent, after the intensified sanctions were announced.
The $20 million in US “aid” that Wyss is outraged Maduro won’t let in is a rounding error compared to the billions already lost from Trump’s sanctions.
Former US Ambassador to Venezuela William Brownfield, who pressed for more sanctions on Venezuela, dispensed with the standard “humanitarian” cover that US officials have offered for them (Intercept, 2/10/19):
And if we can do something that will bring that end quicker, we probably should do it, but we should do it understanding that it’s going to have an impact on millions and millions of people who are already having great difficulty finding enough to eat, getting themselves cured when they get sick, or finding clothes to put on their children before they go off to school. We don’t get to do this and pretend as though it has no impact there. We have to make the hard decision—the desired outcome justifies this fairly severe punishment.
How does this gruesome candor get missed by reporters like Wyss, and go unreported in his article?
Speaking of “severe punishment,” if the names John Bolton and Elliott Abrams don’t immediately call to mind the punishment they should be receiving for crimes against humanity, it illustrates how well the Western propaganda system functions. Bolton, a prime facilitator of the Iraq War, recently suggested that Maduro could be sent to a US-run torture camp in Cuba. Abrams played a key role in keeping US support flowing to mass murderers and torturers in Central America during the 1980s. Also significant that Abrams, brought in by Trump to help oust Maduro, used “humanitarian aid” as cover to supply weapons to the US-backed Contra terrorists in Nicaragua.
In the Miami Herald article, the use of US “aid” for military purposes is presented as another allegation made by the vilified Venezuelan president: “Maduro has repeatedly said the aid is cover for a military invasion and has ordered his armed forces not to let it in, even as food and medicine shortages sweep the country.”
Venezuela Accuses U.S. of Secretly Shipping Arms After Weapons Found on Plane with Possible CIA Ties | Democracy Now!
Calling for international aid and being democratically elected will do as little to protect Maduro’s government from US aggression as being disarmed of WMD did to prevent Iraq from being invaded—unless there is much more pushback from the US public against a lethal propaganda system.

When Is a Democracy not a Democracy? When It’s Venezuela and the US is Pushing Regime Change. Venezuela has as much right to call itself a democracy as does the United States. Until that is understood by enough people, the Trump administration will continue to devastate Venezuela’s economy with illegal sanctions and push it towards civil war.
Suggested Reading:
UN Rapporteur: US Sanctions Cause Death in Venezuela
Guaido is playing it fast and loose with the Bolivarian Constitution to justify a dictatorship
Trump’s Economic Sanctions Have Cost Venezuela About $6bn Since August 2017
How could Venezuela's president 'steal' the 2018 election from an unknown who didn't run?
In other news...
The Largest Protest Ever Was 15 Years Ago. The Iraq War Isn’t Over. What Happened?
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What is Forex?

Forex is the short way of saying “Foreign Exchange”. This means the global market for exchanging international currencies, also known as the FX market. When someone prices or exchanges a currency against another, the exchange rate is best on the particular forex trading pair (i.e., both currencies involved in the pair).
Currency pairs are typically priced out to four decimal places, depending on the currency denomination, where one ten-thousandth of a unit of currency is known as a pip (i.e., 0.0001 unit), which is the smallest price increment (in addition to fractional-pips).
The EUUSD, which is the most widely-traded forex pair, is an example of the Euro (EUR) currency against the US dollars (USD) currency.
When trading one unit of EUUSD, you can calculate the price in USD (i.e., a price of EUUSD 1.3000 indicates $1.30 per euro). Conversely, when exchanging the USD/EUR, each unit of USD (i.e. each dollar) will have the prace of a specific number of euros (i.e., a USD/EUR price of 0.7700 indicates €0.77 per dollar).
A speculator expecting the price of the EUUSD to go up. He will buy the EUUSD pair long (buying a pair to open a trade can be a bullish or long position). Whereas, a speculator anticipating a drop in the price of the EUUSD may sell the pair. (bearish or short position: selling to open a trade).

Largest international market Globally

The forex market is decentralized across the globe. It consists of dealers such as central banks, private and public banks, non-bank intermediaries, brokerages, and large corporations such as insurance giants and other participants engaged in international finance.
The Foreign Exchange market is the largest globally, with nearly $6 trillion in average daily volume traded as of April 2019, according to the latest BIS Triennial Survey of Central Banks.
The FX market suffers the influence mainly by each government’s monetary policy, the supply, and demand of the global economy. As well as international trade agreements, and users and suppliers of currencies (hedgers), in addition to speculators.

Market integrity and progress

While there have been cases of forex market manipulation by the biggest banks and dealers in the past, the amount of influence any one entity can have on the prices of major currencies is negligible. This resistance to serious manipulation risk is due to the enormous amount of trading and resulting liquidity available.
The FX Market itself has high price integrity. Because it is an electronic market, efficient and with a certain size. Participants must still adhere to best practices.
Efforts such as the Global FX code were launched to encourage forex dealers to uphold the best-execution where the best price available is given to traders.
These efforts are why the spreads and trading commissions continued to improve over the years, as the FX market evolved. In addition, regulators have competed to increase local market integrity and efficiency by creating more strict regulations. These come from the top-tier financial centers such as the US, UK, Singapore, Japan, Australia, among other advanced economies.

Investing and trading in the forex market

As an asset class, Forex is well-established and offered by many regulated brokerages from within a margin account.
The use of leverage is what makes forex trading more risky than non-margin investing.
Margin-based trading used by investors as well as self-directed traders and fund managers, thanks to the range of risk-management tools available within forex trading platforms (mobile, web, and desktop software). Wiseinvest provides trading signals with risk-management.

Forex market research and analysis

There are two primary ways for traders to assess and identify trading opportunities in the forex market.

Advanced forex trading strategies and algorithms

The foundation of successful trading in the forex market is having a trading strategy. It’s based on a specific methodology that best suits your trading needs. Strategies could be manual, automated, or a combination of both.
Over the past decade, there has been a proliferation of automated trading strategies made available for retail traders.
And while there are many serious traders with established track records for their trading systems, there are many more low-quality trading systems falsely marketed as high-quality by overly eager affiliates, making it harder for investors to navigate the market for trading signals.
There has also been an increase in the social copy trade. Where an operator can mimic other operators’ businesses in real time.
Whether using a copy-trading platform or an automated trading system, in almost all cases, this type of investing is considered self-directed and doesn’t require a power-of-attorney or another third-party money manager to handle your account.
Unlike other copy and social trading platforms, Wiseinvet’s AI has the ability to execute a huge set of market data. It does by combining technical and fundamental analysis. This strategy can increase the accuracy of trading signals.

Self-directed forex investors

Compared to investing in a managed fund, there is greater responsibility. Traders put it on self-directed traders who use trading systems. A self-directed trader should conduct more detailed due diligence. It can avoid falling for the countless low-quality trading systems that exist on the internet.

There are no guarantees that a strategy will perform well. But conducting proper due diligence can help traders assess various trading systems. They consider using them to aid their trading or investment strategy.
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Funding avenues for overseas education

Although one is well aware of the various benefits of overseas education, people often restrict themselves from doing the same due to the high costs associated with it. The fall in the value of rupee coupled with the rising costs of attaining an international degree hinders study abroad plans that a student may have.
However, the above mentioned facets shouldn’t restrict you from achieving your dreams; various funding avenues are made available for overseas education which makes the process of studying abroad easier. Before making any arrangements for funding, one must undertake meticulous planning to understand the costs that may be incurred. The costs incurred will not only include tuition and application fees but also consists of costs of books, entrance tests fees, travel, accommodation and food.
Parents plan their child’s overseas education expenditure in advance and few students have creative solutions to their financial woes through investments in various avenues. The exchange rate considerations are paramount when making funding plans. After careful deliberations of costs, the following avenues can be availed:






It will take you some time to settle in a new country; therefore before one gets accustomed to the financial situation in the foreign country you must carry local currency and forex cards in case of emergencies.

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