A brief history of bitcoin

Bitcoin is the main cryptocurrency in the world. It is a peer-to-peer currency and transaction system based on a decentralized consensus-based public ledger called a blockchain that records all transactions.

Now bitcoin was provided in 2008 by Satoshi Nakamoto, but it was the product of years of research into cryptography and blockchain, not just the work of one guy. The utopian dream of cryptographers and free trade advocates was to have a limitless decentralized currency based on a blockchain. Nowadays, their dream has become a reality with the growing popularity of bitcoins and other altcoins around the world.

Now the cryptocurrency was first deployed on the basis of a consensus blockchain in 2009, and in the same year it was traded for the first time. In July 2010, the price of bitcoin was only 8 cents, and the number of miners and nodes was much less compared to the tens of thousands now.

Within one year, the new alternative currency rose to $ 1 and became an interesting prospect for the future. Mining was relatively easy, and people made good money by making deals and even paying for it.

Within six months, the currency doubled again to $ 2. Although the value of bitcoin at some point is not stable, but it has been demonstrating this pattern of insane growth for some time. In July 2011, at one point, the coin was lucky, and a record $ 31 was reached, but soon the market realized that it was overvalued compared to the profits made on the ground, and returned it to $ 2.

In December 2012, healthy growth was $ 13, but soon enough the price was to explode. In the four months to April 2013, the price rose to a whopping $ 266. It later corrected to $ 100, but this astronomical price increase first brought it to fame, and people began to discuss the real real scenario with bitcoins.

Around that time I was introduced to the new currency. I had my doubts, but the more I read about it, the more it became clear that the currency is the future, because it has no one to manipulate and impose itself on it. Everything had to be done with full consensus, and that is what made it so strong and free.

Thus, 2013 was a breakthrough year for the currency. Large companies began to publicly advocate for the adoption of bitcoins, and the blockchain became a popular subject for computer science programs. Then many thought that bitcoin served its purpose, and now it will calm down.

But the currency became even more popular: ATMs for bitcoins were created around the world, and other competitors began to exert their forces at different angles of the market. Ethereum developed the first programmable blockchain, and Litecoin and Ripple began themselves as cheaper and faster alternatives to bitcoin.

The magic figure of $ 1,000 was first broken in January 2017, and has since quadrupled by September. This is a really great achievement for a coin that cost just 8 cents just seven years ago.

On August 1, 2017, bitcoin even survived the hardfork and has since grown by almost 70%, while even bitcoin cash has managed to achieve some success. All this is due to the attractiveness of the coin and the stellar blockchain technology behind it.

Although ordinary economists claim it’s a bubble and the whole crypto-world will collapse, it’s just not true. There is no such bubble, as it can be observed that he actually ate shares of fiat currencies and money market corporations.

The future is extremely bright for bitcoins, and it is never too late to invest in it for both the short and long term.

Make money on gold rush through these popular household items

Gold recycling is more popular than ever in recent years, due to the demand for precious metals. Every piece of gold processing helps meet demand, and the American public can help process and get paid for it. Even if you don’t have a lot of gold jewelry at home, there are many other household items that contain gold and can be recycled for profit. Recycling gold can be very profitable and will help you earn from a few hundred to a few thousand dollars depending on what you have to recycle.

To start recycling gold, here are 10 items you can start looking for in your home to start recycling.

1) Old laptop and old computers – Different brands and models may have different components, but chances are your old computer will have gold in the chip processor, CD drive unit and laptop adapter extensions. Before extracting gold from these items, you should research the process of removing gold from these items. The use of toxic chemicals is often required, so it is important to understand the process of removing gold as well as take care of safety to make sure that the chemicals are not harming you.

2) cell phones – your mobile phone has components made of gold, or these products can be gold-plated.

3) Broken and unwanted jewelry – You may have old jewelry from your ex-husband, ex-girlfriend or boyfriend and even relatives. You may have items that you haven’t worn in 10 years, or items that have broken. The great news is that these things can be turned into cash if you no longer want them.

4) commemorative pins – around the house can be pins and buttons, which are real gold. You may have inherited military memorabilia that contain gold.

5) Old fillings and caps – dentists years ago used gold for fillings and caps. You may have a relative or even yourself who has had the gold filling removed.

6) Old smoke detectors – remove the old smoke detectors and replace them with new ones. Before disposing of the old smoke sensor, remove the gold

7) Old VCRs – they have gold

8) Old Junker Car – Your old car has gold. Depending on the year, brand and model, the gold content will vary. System chips and insulation are some places to look.

9) Old TVs, printers and cameras – I can’t list every make and model, but there is gold in these items. People throw away these things every day because they are obsolete. You can pick them up for free and turn them into cash.

10) Glass and silverware – not all glass and silverware will have gold, but some items will. In some devices in ware there will be gold, in glassware – gold in a glass, and in some silver products – gold in ware. Carefully review all items. Silverware can also be trial silver, which is also a precious metal that you can sell for an instant profit.

As you can see, there are many items that can be recycled and turned into instant money. Some recycling methods take longer than others, so you may have to experiment with the process to determine which method you prefer. The great thing about recycling precious metals is that everyone can start recycling today and make extra profit.

Gold comes first

What does the world come to when one of the largest, oldest insurance companies on the planet has decided that gold – yes, gold – is the best insurance against a monetary catastrophe?

That’s what I thought a few weeks ago when Munich Re, one of the world’s 20 largest financial services companies, said it kept bullion and money in the company’s vaults out of disgust for the European Central Bank (ECB) and its negative interest rate policy.

I mean, once the accumulation of gold was the realm of the crowd of table hats – think of Scrooge McDuck sitting in his bunker, counting down Looney and Krugerrands.

Saying “I like gold” used to be an alternative, and a little “there”. Like vinyl albums and a pot, gold is now part of everyone’s personal stock.

Okay, for me do it two out of three. But you realize that gold goes mostly.

Or maybe, more precisely, the main direction is starting to go for gold.

Munich Re, mind you, has been around for a long time.

Founded in 1880, it has undergone nearly 150 years of disaster. The company paid the inflation-adjusted equivalent of $ 150 million for the 1906 San Francisco earthquake. It survived the loss of its operations in the United States at the beginning of World War II, surviving the Third Reich and devastating Europe with war. When the Twin Towers received a blow, Munich Re paid nearly $ 2 billion in claims.

But, according to the company, negative ECB interest rates could be the biggest disaster he had to prepare for.

“Everything is out of control here,” Munich Re CEO Nikolaus von Bomhard told reporters on March 16. “This is the official end of monetary policy.”

Oh. Strong words coming from someone in a harsh world, no nonsense, global reinsurance at $ 570 billion.

Gold: Cash Accident Insurance

Herr von Bomhard did not finish. He warned of “devastating side effects” and “massive redistribution from poor to rich” as Europe’s economy bypasses sewers.

He then added, “The government can’t just let this happen!”

But it happened. And it is.

The Munich Re solution? Upload gold and cash and store them in the company’s own vaults.

By the standards of a company the size of Munich Re, the amounts are not very large. He withdrew $ 11 million in short-term deposits from the bank (saving, according to my estimate, about $ 44,000 in ECB “penalty interest” by 0.4%).

And von Bomhard said the company is already building its position in gold, although it has not given specifics. The Munich Re annual report for 2015, however, states that it contains $ 331 million.

So is Munich Re just trying to make a statement about the ECB? Is this a real strategy to combat negative central bank rates?

Von Bomhard told reporters it was both, “We’re just trying, but you see how serious the situation is.”

The rest of Germany’s financial establishment is also a cause for concern. The chief economists of Germany’s largest savings banks warned the ECB of its “hasty monetary policy” in an emergency communiqué earlier this month.

And thanks to negative interest rates, these savings banks are beginning to think about another radical idea: to keep in their vaults bales of euros in paper currency, rather than storing them electronically in the ECB (where money will be fined at a negative interest rate).

What impresses me the most is that the decisions that these large financial institutions are trying to make are the same topics we have been writing about for a long time: get a good safe and do not trust that your bank will always be near you …

And, yes, yes – buy gold, because the main crowd understands that the alternative wealth store is not so “there” after all.

Understanding the gold silver ratio and how to change

Change the ratio of gold / silver – look for 15 – 35% of profits without spending money

The upward trend in metalworking has many investors owning both. But with gold and silver bars you can do more than just buy and keep. You can also periodically trade or “swap” one on top of the other. To do this successfully, you first need to understand the gold / silver ratio.

The gold / silver ratio indicates the number of ounces of silver needed to purchase one ounce of gold at a given time. If you study the prices of gold and silver that go back 4,000 years, you will discover:

  • The historical ratio is 16: 1 (to buy 1 ounce of gold it took 16 ounces of silver)

  • Over the past 100 years, the ratio has been 30: 1

  • Over the past 12 years, this ratio has kept closer to 60: 1

  • In the last 5 years alone, the ratio has ranged from 40 to almost 100

  • As of March 1, 2011, the gold / silver ratio was just below 40: 1

How can we take advantage of this fluctuation?

  • First – we calculate purchases based on the ratio. If the ratio is relatively high, we prefer silver when making new purchases. If the ratios are relatively low, we prefer gold.
  • The last – we act when the ratio reaches peaks and troughs. If the ratio is high, we will exchange gold for silver. Then, when the ratio drops, we will exchange the silver again for gold. In other words, we exchange silver for gold when silver rises faster than gold. We will then exchange gold for silver when silver becomes “cheap” relative to gold. Every time we go through this cycle – gold to silver and back to gold – we increase our ounces. This is the whole goal. For example:

    • Suppose you had one ounce of gold, and the gold / silver ratio rose to 80: 1. You would exchange your ounce of gold for 80 ounces of silver.

    • If the ratio dropped to 40: 1, you would exchange your 80 ounces of silver back for 2 ounces of gold, doubling the number of ounces you have.

  • Next – we buy a form of silver or gold, which allows for greater profits. During periods of high demand, investors often assign a premium to certain goods of 20 to 40% or more of their value. At this point, we can swap high premium items for others with lower levels – capturing most of the difference and turning that difference into extra ounces of metal.

In addition, the use of this technique does not require additional monetary costs. Taking advantage of this ratio strategy, you can defeat the alternative – to sit and wait for prices to rise.

Careful

  • Taxes – If you make a profit from the transaction, you can borrow income tax. We do not offer tax advice. Consult a tax professional.
  • Market risk – I do not determine the independent exchange of prices. Most likely, I am strongly inclined to other representatives of the industry, who have also been involved in technology for decades. The market may not cooperate. The challenge is to correctly identify exchange points based on relative estimates between metals. The ratio can move much higher or lower than our goal. Then we would have to wait longer for the ratio to adjust. This is a significant risk for those who trade ratios.
  • Costs – Transaction costs such as shipping, spreading the cost of offers and inquiries can be up to 8%, although they should be lower. We will need to trade long enough to offset transaction costs. Transaction costs associated with trading physical metals are higher than trading ETFs, futures or other paper instruments. To keep your costs low, we only charge half of our usual commission for a swap deal. Many others will take full commission from both the buying and selling side. Be careful.

BENEFITS

  • More ounces free – A gold / silver trading strategy requires investments that would otherwise stagnate and create growth, increasing the number of ounces you have, at no extra monetary cost. From now until the end of the bull market, you should conservatively expect to double ounces using this strategy.

What you need to know

  • When I first started buying metals almost 20 years ago, my teacher often reminded me that he was not a prophet. In the same vein, if I’m wrong about the gold / silver ratio, it will cost you money. You buy silver instead of gold, and gold outstrips silver, or vice versa. I don’t think it will happen. Or, if so, it will be temporary. I have successfully deployed this strategy many times. Sometimes the time frame between swaps is relatively small – maybe just a few months. Other times it took two years or more.

  • I recommend exchanging silver for gold if the gold / silver ratio drops to 48 or less. Think about replacing more if the ratio goes down further. We will then look for an opportunity to exchange this gold back for silver by capturing this win in extra ounces of silver.

  • Because there are commissions and other transaction costs, you won’t understand exactly the same ratio as the spot ratio.

  • The exchange strategy works for both small and large investors until you are ready to exchange (150) ounces of silver and more. We will exchange for the cheapest, most affordable, most liquid gold coins – all that offers you the most gold for your silver.

  • This is not a petition, but only a strategy. Please do your own check and make your own investment decision.

  • After all, I prefer silver over gold because I’m still confident that the ratio will reach 16: 1 (or lower) at the top of this bullish market.

Household

  • It is impossible to change the exact amount of one metal to the exact amount of another. For example, for an ounce of gold you can buy 50.17 ounces of silver, but never equal even for 50 ounces. I do my best to swap places as close to equal as possible. We will calculate the balances in cash. You can borrow a small amount, or you can borrow a small amount. I’m trying to keep those amounts under $ 100.

The ability to exchange gold / silver appears intermittently. If you want to learn more about how you can increase your metal stocks by 15-35% or more without spending money, contact us. The window of opportunity is very narrow.

What makes a good silver buyer?

Aside from selling gold, you can also get paid for your silver and silver jewelry and items that you have. It is among precious metals that buyers are more than willing to buy, and you can make money quickly by selling silver items that you have at home, or ones that you no longer need. However, buyers of precious metals have become more and you need to make a choice to get the best of them to purchase what you have. Here are some basic things that make a good silver buyer for you.

Reputation – It’s among the things you just can’t afford to ignore when choosing a silver buyer that you have. A good buyer should have a good reputation in the market and you can easily appreciate this by going through any review or feedback given to the buyer by previous sellers. Since there are real buyers, remember that many of them are not honest with the services they offer, and to be safe, you need to choose a buyer you can completely trust.

Prices – Your silver certainly needs to be valued to add value to it, but you can take your time to look at your buyer’s quotes. Most buyers have price lists based on the carats and weight of your silverware, and you can use such lists to determine which buyer can offer you the best value for the items you want to sell. However, remember that current market prices can also determine the amount you receive for the goods you sell.

Services – The services offered by your buyer can also help you determine how good it will be not only for the current needs you have, but also for any future needs you may need. Fortunately, most buyers of precious metals offer much more than just silver buying services. Depending on the choices you make, you can also enjoy legal collateral and consignment as well as cleaning services. So it helps to know what else your buyer can do for you regarding silverware.

Politics – If you appreciate the silver, you may or may not accept the stated prices. Either way you have to say the last word as to what’s going on with your subjects. You can accept prices or refund them to find the best deal for the buyer. Although most silver buyers offer you this simple process with no commitment, make sure you know the terms of the services offered. The best thing you can do is read the company’s policies and get the most important details so you can make better decisions when working with buyers. The items belong to you, so make sure the policy doesn’t bind you to commitments you may not like.

Survive outside of FOMO – how to choose a winning ICO project for long-term value

In a world driven by hype and FOMO [Fear Of Missing Out], it is becoming increasingly clear that a diligent cryptocurrency must go through the litmus test of choosing a token to support in a world where it is difficult to find real viable projects, and good long-term projects are even harder to distinguish from money-grabbing.

With recent developments, when most new cryptographies reach record lows, and new ICO projects that don’t match their post-crowds rush, now frustrated “investors” tend to blame ICO social media promoters rather than blame themselves for not doing their best check to select the most likely winner after the crowdsale before purchasing the token during the ICO.

From my extensive observation, it became clear that most crypto buyers simply bought coins during the ICO based on FOMO (Fear of the Abyss), created by the masters of hype behind these coins. Many just bought without understanding the purpose of the coin after the ICO and what needed to be done after the crowdsale. If nothing happens after the ICO, as is often the case with many ICOs, they then jump on social media and shout about the bloody murder.

Recently, me and my team just finished a tour of Africa and parts of the US to promote ICO Nollycoin. We have organized and sponsored various conferences, held live press meetings of the AMA (Ask Me Anything) and held many one-on-one meetings with crypto-whales, small investors and crypto-millionaires of any color.

On the contrary, I was struck by, among other things, that MOST token holders DID NOT MEAN about the core business or project behind the sales of the tokens in which they participated.

Even more astonishing in my observation was the astonishing fact that many could not tell you the valuable proposal of the project, its goals or the company’s plan to disrupt the market and capture many buyers in its field. They just bought the ICO because a few telegrams or Facebook pages they visited kept telling them, “Buy Hodle and buy more.” Most simply acted on the basis of herd instinct rather than objective discussion.

Now that most of the people I’ve met have been just teenagers or uneducated people, I wouldn’t be so surprised by the level of ignorance of many crypto-investors I’ve met. On the contrary, many of those I met were college graduates and people with a certain affluence. However, less than 10% of them could easily articulate why they bought the coin, hoping that it would increase in value over time. Wherever I went, few in the crowd could tell me the name, experience, and capabilities of the corporate managers of a company that sells coins.

Most could only point out that the coins were recommended by “respected” influential people when the facts prove that most of them were getting chills to create FOMO and respectability for otherwise useless shitcoins.

Apart from the so-called false influencers, all the many buyers of the crypt knew that the names of the team leaders were Russian, Chinese or Korean, although they knew absolutely nothing about them. As if all you need for a successful ICO is to list the names of people from Korea, China, or Russia that no one could even verify with a simple Google search.

While I agree, there are definitely many things to consider when deciding whether to increase project tokens over time, I think the acid test and the most immediate evaluation criteria should be the utility of the coin itself outside of what happens on the crypto -exchanges.

Although most crypto token owners I’ve met didn’t even know about it, the reality is that if you bought a token from most ICOs, you didn’t actually “invest” in that company. You would not buy company shares and would not buy any securities in the company.

And at best, what you did when buying tokens during most ICOs was a “donation” to the project in exchange for a utility token or coin that legally had no real value other than a business ecosystem controlled by the issuing company.

In other words, other than your hope that the price of the tokens will become “monthly” or rise to make you a millionaire, you can’t do much else with the token other than enjoy the utility attached to it by ICO, if any.

Because no one could really predict exactly how Crypto would act on a crypto exchange when it finally got there, and recent experience has shown that the prices of most tokens are likely to drop in the nose in the first few weeks after going public (due to big speculator sales), it would be clear to you to see what other value or utility you could get from your token other than the expected “feast” on the exchange.

As the crypto-revolution has continued to change, change and adapt to different market developments, the only way to make sure your money doesn’t fall into the gutter is to be sure that you can still use these tokens to get great value and benefit even if you could sell it for a profit right on the stock exchange.

When making this decision you should ask yourself this basic question: what is the price, product, or service created by the company that sells the token that will give me enough value for my cash to make that purchase of mine?

In a world of falling token prices on different exchanges, the more opportunities you have for real use using a token outside the expected list on a crypto exchange, the more likely you are that you will not end up spoiled or blocked tokens that are useless to you.

So you have to ask over and over again: IF this coin was never traded on an exchange, would I still be glad to have supported that vision? If this ticket has lost 70% of its value on the exchange, can I still use it and get the price from it elsewhere?

If you have not been able to answer these questions in the affirmative after viewing the WHITEPAPER and filing the company’s claims, you should think twice before buying this coin.

A recent case study

Take the current ICO, such as Nollycoin, which is a marker that feeds the Blockchain-supported movie distribution ecosystem. Coin promoters have created various utility scenarios for coin buyers to ensure that no matter what happens to Nollycoin on the cryptocurrency exchange, their fans and hockey players will continue to smile.

Include some great useful features that attach to the Nollycoin token in the Nollytainment ecosystem

• Ability to use Nollycoin tokens to watch exclusive movies in cinemas and cinemas

• Ability to use Nollycoin tokens to access thousands of movies in their distribution of Netflix movies on steroids.

• Ability to use Nollycoin tokens to purchase products and services at NollyMall, which is similar to Amazon’s platform for entertainment-based products.

• Ability to use Nollycoin tokens to pay school fees on the NOLLY Academy platform and partner companies

As you can see, apart from the usual expectation that tokens can be listed on a crypto-exchange platform, you need to look beyond the hype ico of the immediate and promising usefulness of the token and the viability of the main project behind it.

Stages of market mania

What is mania? It is defined as a mental illness characterized by strong excitement, euphoria, illusion and excessive activity. When investing, this leads to the fact that investment decisions are driven by fear and greed, without interfering with the analysis, causes or balance of risk and reward results. Usually mania runs in parallel with product development in business, but can occasionally go awry.

The technology boom of the late 1990s and today’s cryptocurrency boom are two examples of how mania works in real time. These two events will be highlighted at each stage in this article.

Stage ideas

The first stage of mania starts with a great idea. The idea is not yet known to many, but the potential for profit is huge. This usually translates to unlimited profits, as “something like this has never been done before.” The internet was one such case. People who used paper systems at the time were skeptical of “how can the Internet replace such a familiar and entrenched system?” The backbone of the idea begins to build. This translates to modems, servers, software and websites needed to make the idea turn out to be material. Investments at the idea stage start small and are made by people “aware”. In this case, it could be visionaries and people working on the project.

In the world of cryptocurrencies, the same question is asked: how can a piece of cryptocurrency replace our monetary system, contract system and payment systems?

Opportunities

The first websites were rude, limited, slow and annoying. Skeptics would look at the words “information superhighway” that visionaries shouted and said “how can this be really helpful?” Here the element is forgotten – ideas start with the worst and then turn into something better and better. Sometimes this is due to better technology, larger scale and cheaper costs, better application for the product in question or greater familiarity with the product combined with excellent marketing. As for investment, early people are entering, but the euphoria and astronomical return is not yet there. In some cases, investments bring a decent return, but not enough to make the masses jump. This is similar to a slow Internet connection in the 1990s, a failure of Internet sites or incorrect information in search engines. In the world of cryptocurrencies, this indicates high costs for coin mining, slow transaction times and hacking or account theft.

Acceleration

It is rumored that this Internet and “.com” is the newest. Products and material construction are created, but due to large scale costs and time will be large before everyone will use them. The investment aspect of the equation is beginning to outpace business development as markets reduce business potential with the cost of investment. Euphoria is beginning to take place, but only among those who have adopted the early framework. It’s happening in the world of cryptocurrencies with the explosion of new “altcoins,” and the big media is pushing what space is getting.

Euphoria

This stage is dominated by the parabolic impact and potential offered by the Internet. Not much is thought about the implementation or the problem because “the profits are huge and I don’t want to miss out”. The words “irrational wealth” and “mania” become common when people buy because of pure greed. Disadvantages and negatives are also largely ignored. Symptoms of mania include: any company that has a name in the company is hot, the analysis is thrown out the window in favor of optics, investment knowledge becomes less and less obvious among new entrants, expectations of 10 or 100 bag returns are common and few actually knows how the product works or doesn’t work. It happened in a world of cryptocurrencies with stellar returns in late 2017 and cases where company stocks jumped hundreds of percentage points using their name “blockchain”. There are also “reverse takeover offers” where subscriber companies that are listed on the stock exchange but do not work change their names to something blockchain-related, and the shares are suddenly actively traded.

Crash and burn

The business scene for a new product is changing, but not as fast as the investment. Eventually, there is a shift in thinking and a huge rampage of sales begins. Volatility is massive, and many are “weak hands” and wiped out of the market. Suddenly, analysis is used again to justify that these companies have no value or are “overpriced”. Fear is spreading and prices are accelerating down. Companies that are unprofitable and that survive because of the hype and future prospects are blown away. Cases of fraud and fraud, which are increasing to take advantage of greed, are revealed, causing more fear and the sale of securities. A business that has money is quietly investing in a new product, but the pace of progress is slowing down as the new product is a “nasty word” if profits are not demonstrated convincingly. This is starting to happen in the world of cryptocurrencies with the curtailment of lending schemes using cryptocurrencies and higher cases of coin theft. Some marginal coins are lost in value because of their speculative nature.

Survivors

At this stage, the investment landscape is scorched by stories of losses and bad experiences. Meanwhile, a great idea is coming into sensitivity, and for businesses that use it, it’s a boom. It is beginning to take root in everyday activities. The product is starting to become the standard, and visionaries are quoting, saying the “information highway” is real. The average user notices an improvement in the product and it starts to take root en masse. Businesses that had a real profit strategy get hit during the accident and burn phase, but if they have the money to survive, they move on to the next wave. So far this has not happened in the world of cryptocurrencies. Those who have a tangible business case and corporate support are expected to survive – but it remains to be seen what those companies and coins will be.

The next wave – the business is catching up with the hype

At this point, a new product is the standard, and profits become apparent. Now the business case is based on profits and scale, not on ideas. There is a second wave of investment that starts with survivors and moves on to another early stage mania. The next stage was characterized by companies on social networks, search engines and online shopping, which are all derivatives of the original product – the Internet.

Conclusion

Mania works on a pattern that over time plays out in a similar way. Once a person recognizes the stages and thought process on each, it becomes easier to understand what is happening and investment decisions become clearer.

Confiscation and the case for gold

Imagine how one evening the President of the United States made a television surprise:

“Starting at midnight, I’m banning all the $ 100 bills that are now in circulation. You have eight weeks to execute. After that, they’re worthless.”

Without prior notice. No press leaks. There is no “gradual introduction” of the ban.

It can’t happen here, you say?

This happened in India last month – a country that is much more dependent on paper cash than the US (In India somewhere between 70% and 95% of all transactions are made on a cash basis. In the US this figure is close to 40%.)

Technically blitzkriegThe ban on cash by Indian Prime Minister Narendra Modi did not mean the end of major denominations. (His order banned 500 and 1,000 rupee notes, but people can exchange them for smaller denominations or new notes until the end of December.)

Big brother, in Indian

In fact, it meant the end of a large denomination currency that the government could not track on an ongoing basis.

If you read the warnings about maintaining your economic privacy, the next part will not be a surprise:

According to India Economic times, “the central bank has now asked all banks to track the movement of new bills from [banks’] currency boxes ”and“ implement a reporting system ”to track these bills as they move through the local economy.And to keep any fun business going, banks were also ordered to keep records of their security cameras for future use by the Indian authorities.

Modi’s stated goal with the cash ban was to eradicate “black money” from corruption and tax evaders. But suppose you don’t fit any of these descriptions?

Suppose you are a law-abiding citizen but do not trust the local bank. (Not a bad idea in India or the US in that regard.) Suppose you like to keep a supply of money on hand “just in case” – and you don’t understand why the government should know.

Showcase for gold ownership

That’s when our frequent advice about “gold as insurance” arises.

You turn your money into ingots and jewelry.

This is happening all over India. For example, Hindustan Times reportedly “panicked shoppers” flooded jewelry stores in the city of Indore in central India. Most stores do business early in the morning because of customer commitment.

The head of the local jewelry association said: “None of the buyers wasted time on the bidding and most of the purchases went in the form of gold coins and cookies [1-ounce wafers of gold] and gold bars. “

To date, the “cash ban” in India has been in place for six weeks, and the results are widely considered a failure:

  • Moody’s expects efforts to “significantly disrupt economic activity” in the world’s seventh-largest economy.

  • Cash shortages were common, as banks ran out of “new” bills to replace old ones that seemed to be depositors.

  • It is also unclear that efforts have been made to fight corruption – it has only forced corrupt, privacy-seeking “non-corrupt” people to find other ways to circumvent the government decree.

The process of banning cash

Even the amount of illegal money turned out to be less than the government’s early estimates. So far, the Indians have converted 12.6 trillion rupees (about $ 185 billion). More than 80% of these soon-to-be-banned notes were “checked,” meaning the money was legally accounted for.

What about arrests as a result of the cash ban? Authorities have not yet announced any “smoking guns” for a billion rupees. The ban did not lead any king of the underworld to vaccination or tax evasion.

And among the arrests that have been made? How India Times noted across the country there are at least six major cases where bank employees have been arrested for corruption and money laundering. Ironically, the most illegal activity falls on the sector of the economy most closely linked to “legal” money regulated by the government – the banks themselves.

Common gold trading companies. Why buying gold is a big investment

Gold plays an important role in the economies of many countries. Although it is not the primary form of currency, it is still considered a long-term, solid investment.

Why most people invest in gold

Liquidity – It can be easily converted into cash, no matter where you are in the world. Apart from cash, the versatility as well as liquidity of gold is unmatched.

Great value – Over time, it tends to maintain great value. In fact, most economists argue that its value does not indicate its value. Thus, even when the cost decreases, its core value does not change.

A great way to diversify – A significant way to diversify as well as reduce the overall risk of investing is to add a variety of securities to your portfolio. Because the fold usually moves back to the stock market, it actually provides an effective way to diversify.

Contribute to products – Due to the fact that this element is used for the production of various products, such as electronic equipment and jewelry, there is a great demand, which further stabilizes its value. In addition, the market may force its price to rise if demand for it increases.

Universal product – Despite the fact that different countries sell their treasuries, currency futures and other securities around the world, compared to gold, they are mostly exposed to political chaos.

Note also that when inflation is fixed, this element increases. Indeed, any deterioration in the dollar will lead to higher gold prices. Thus, in times of inflation it actually offers a more stable investment compared to cash.

Recall that this form of investment also has some drawbacks. First, this element does not generate passive income. The only profit you can get from it is when the price increases and you want to sell it. Second, he needs physical storage as well as insurance. In addition to placing a store where you can place it, you also need to insure it. If not, you cannot replace it if it is stolen or damaged.

When is the best time to invest?

The best time to invest in this element – if inflation is expected to consolidate and reduce the value of the national currency. Once you are able to detect such drops, the more space you will be able to make a high profit. Some of the indicators will include political upheavals and a falling stock market.

A guide to selling gold jewelry

If you are deprived of cash, the easiest way to get money – to sell your gold jewelry – is to get money for gold. The price of gold is rising, and buyers of gold have a lot of newspapers, the Internet, radio and television.

To get the most out of gold jewelry, you need to be very careful and follow the right channels.

How to sell gold jewelry

Start by dividing jewelry into different categories: broken, missing parts and antiques. Your next step should be the right price of your gold. It should be noted that there are many people who pretend to be professional jewelers, but this is not the case.

To be safe, you need to find reputable jewelers at your local business improvement office. If you live in the United States, you should find wonderful jewelers from the American Gems Society.

The jeweler will analyze the gold and give you the value in carats and the weight of the gold in a penny. There are several jewelers who will give you weight in troy ounces. You don’t have to agree with the cost of one jeweler – you have to get a price from at least three professionals.

In addition to getting value from a number of jewelers, you also need to determine your own gold value online. The coolest thing is that there are many online calculators to help you determine the value in seconds.

You can also calculate the cost yourself. Start by determining the percentage of gold in jewelry. Always remember that 24 carats is 100% gold; so to get the percentage of gold in jewelry, you have to divide the carat jewelry by 24.

For example, 18-carat jewelry is 75% (18 carat / 24 carat = 0.75 = 75%)

By the percentage you will be able to determine the weight of the gold. To do this, you only need to multiply the percentage you get by the fixed weight of your jewelry. For example, in an 18-carat gold ring weighing 20 grams 15 grams of gold (29 g X75 = 15 g).

To translate weight in ounces, remember that 1 g = 0.0353 ounces; therefore 15 g = 0.53 g (1 ounce / 0.0353 g).

To get the value of gold, you need to multiply the weight of the gold (in ounces) by the current price. For example 0.53 g X $ 1000 / ounce = $ 530

With all the information with you, you need to explore your sales opportunities. As mentioned above, the price of gold is rising; so it is easy to find a gold buyer. It should be noted that different buyers will accept different qualities of gold. For example, online shoppers will accept broken jewelry, but jewelry stores will only accept undamaged jewelry.

If you have broken jewelry, you should think about selling them for gold purchase or buyers of broken jewelry and keep the whole jewelry for jewelry stores.

You should reach out to different buyers and compare their prices. Generally, you should buy from a buyer by providing the best prices for your gold.