Bitcoin Craters After the PBOC Confirms Probe into Bitcoin Exchanges

The run in Bitcoin was never a grass roots moment of human enlightenment like so many advocates want you to believe. It started off as a pyramid scheme and then morphed into a denizen for money laundering and financing criminality. Now it’s simply a manner by which wealthy Chinese can move their yuan out of China and into safer currencies.

The price of Bitcoins are crashing this morning, after it was revealed that the PBOC have visited three Bitcoin exchanges in an effort to reign in investment and to make sure people are taking a rational approach to the faux currency.

In other words, they want people to cut the shit out and leave their money in Chinese banks — because the country is doomed.

The People’s Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.

The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that “spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering”.

Separately in Shanghai, the PBOC said it visited BTCC, noting its checks “focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks.”

“Selling is being driven by China. The fear is that … this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly,” said Charles Hayter, CEO of digital currency analytics firm Cryptocompare.

“This is a ratcheting up of the rhetoric from the Chinese authorities – instead of ‘we’re watching’ you, it’s now ‘we’re investigating’ you,” he said.

According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months.

“The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry – but in the short term this could effect volumes which have been one of the key drivers of the recent rally,” Hayter added.

Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line.

“We’re definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China,” he told Reuters by phone.

“I wouldn’t call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today,” Lee said.

A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities.

Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin.

President elect Trump is expected to speak at 10am today, where he will, undoubtedly, scream bloody murder — following an incident in the liberal fake news industry last night with Buzzfeed publishing a pseudo intelligence report that was likely sourced back to a message board troll on a Hitler fan site.

In a series of tweets designed to trigger the least competent people in America, Trumo denied any involvement with Russia and criticized the intelligence agencies of high level retards for leaking a document which was obviously false. He also likened the current state of fake media to Nazi Germany.

Trump’s chief of staff, Reince Priebus, chimed in on the issue today — calling the Buzzfeed report complete garbage.

.@Reince Priebus on @realDonaldTrump-Russia report published by Buzzfeed: “This stuff is total garbage and it’s not true.” pic.twitter.com/YEXw95mbIq

— Fox News (@FoxNews) January 11, 2017

Ok, there is a lot to go through with this story, which is going to end up being one of the biggest embarrassments for Buzzfeed, the CIA, and old man Mcain.

First let’s go over what happened, in reference to the pesudo intelligence report aka ‘dossier’ published by the high level retards over at Buzzfeed.

I know this appears to be unbelievable, but it’s all verifiable. The neocon shill of a reporter from Buzzfeed, Rick Wilson, was catfished by some autist from the Hitler loving 4chan message boards and made to believe Trump enjoyed getting urinated on and all sorts of outlandish stuff. Truly, this is incredible. Let me post some screen shots.

That right there is the head of Buzzfeed explaining why he published a dodgy report of utter nonsense that was, apparently, fished around to other news agencies and summarily rejected — because it’s retard level was too high even for The NY Times.

Since the 4chan ruse was revealed, Rick Wilson has been made out to be a top moron with a propeller helmet, laughed at and derided as a person of very low standing. The heat is, apparently, getting to him.

Wikileaks calls bullshit on the report.

What sort of nonsense is in this top secret dossier? How about this?

And now to the curious case of John McCain, war shill, neocon lover of death of agony.

Source: Guardian

Senator John McCain passed documents to the FBI director, James Comey, last month alleging secret contacts between the Trump campaign and Moscow and that Russian intelligence had personally compromising material on the president-elect himself.

The material, which has been seen by the Guardian, is a series of reports on Trump’s relationship with Moscow. They were drawn up by a former western counter-intelligence official, now working as a private consultant. BuzzFeed on Tuesday published the documents, which it said were “unverified and potentially unverifiable”.

The Guardian has not been able to confirm the veracity of the documents’ contents, and the Trump team has consistently denied any hidden contacts with the Russian government.

The media ran with the ‘explosive news’ story and will now enjoy its explosion — as they hold it near their tiny little hearts.

Trump is now pissing all over these guys.

Overall, I gave the speech 1 mic out of a possible 5.

Somewhat related poll:

Are you sure Michelle Obama is a man?

— The_Real_Fly (@The_Real_Fly) January 11, 2017

Joan Rivers just before she was suicided.

Jacob Pramuk seems to make a living by second guessing just about every single thing President elect Trump does. His Twitter account is littered with anti-Trump gibberish. As an employee of CNBC, the home of the hardest Hillary shiller of all time — John Harwood — Jacob is right at home, very comfy, writing shit about Trump.

In an article out today, he cites a rigged poll calling for Trump to delete his Twitter account. The main stream media are livid over Trump’s use of Twitter, specifically because it renders them and their filtration systems of propaganda worthless.

Most American voters think Donald Trump should delete his account.

A Quinnipiac University poll released Tuesday showed 64 percent of voters surveyed think Trump should not keep a personal Twitter account while in the White House. Only 32 percent of those polled said he should maintain his personal account.

Trump used the social media platform frequently during his campaign and continues to do so after his presidential election victory, attacking rivals, highlighting media coverage he views as negative and weighing in on foreign and economic policy. While Trump’s team sees Twitter as a way to directly get its message to voters, critics have slammed his penchant for late-night tweets and 140-character responses to delicate issues, like U.S. relations with China and Russia.

Republican voters narrowly said Trump should keep his account by a 49 percent to 45 percent margin. Only 18 percent of Democrats said he should maintain his personal account, while 80 percent said he should not. Independents said he should scrap his account by a 65 percent to 31 percent margin.

Considering how wrong the biased polls were this past election, predicting a landslide victory for Hillary Clinton, I put very little credence into the polls put forth by Quinnipiac. But even if that was the consensus opinion, who the fuck are we to tell Trump what to do with his Twitter account? If he’s more comfortable talking to the people directly, instead of through the shills at the NY Times, so be it.

Just like the fake news theme that was pressed hard by the main stream media, going into and after the elections, their new play is to pressure Trump to give up his Twitter account. Politico quizzed the half-dead former Sec of State, Madeline Albright, who probably doesn’t know how to use a teevee remote, about Trump’s twitter usage and this is what she had to say.

“I’m going to try to be polite,” Albright said, asked about the president-elect’s propensity to tweet policy pronouncements on a U.S. Institute of Peace conference panel. “Let me just say that I am very concerned about the tweets and generally about the messages that are going out.”

Concern trolling at its best.

According to Google Trends, search terms for ‘Trump delete Twitter account” is on the rise.

Supply side media propaganda.

Conservative leaning website, Lifezette, takes the other side of the argument.

Trump cut out the middleman, and the middleman is livid. Thanks to technology, Trump doesn’t need their ink or their audience — he has his own. That’s why his tweeting has long been the mainstream media’s rhapsodic parrot-gripe. Do a Google news search for “Trump should stop tweeting;” the results are endless. Pick a Trump tweet, scroll through the comments and see how many people are saying “Delete Your Account.” Lots.

But President Trump will never stop tweeting. Why would he? He can change the news cycle in 30 seconds with just his iPhone. He can say whatever he wants, whenever he wants, and the whole world hears it. He has the biggest megaphone in the history of the world at his disposal. Asking Trump to stop tweeting is like asking Tom Brady to show up to the NFL playoffs wearing handcuffs or asking Michael Phelps to cinch an anchor to his waist before diving into the pool. The liberal logic being, “You keep winning. What you’re doing is very effective. Please stop.”

Here’s another poll to consider: America’s trust for the media sinks to new lows.

Instead of correcting their haggard ways in reporting news, the main stream media has sought out to control the dissemination of news through filtration systems, discouraging direct dialogue with the American people and impugning the integrity of independent media by calling them ‘fake news.’

Hitherto, their schemes have failed. Thus, their credibility continues to spiral lower.

As a side note, I just ran a Twitter poll asking if Trump should delete his account and the results were almost the exact opposite of what Quinnipiac produced.

Marc Faber chimed in on the recent rally, comparing it to the Reagan years, highlighting the differences between now and then. Naturally, he’s a big old stupid bear, clamoring for end of times, pointing out uncomfortable truths — such as record high asset prices.

Everyone would like the bull market, which is now 8 years old, to continue unabated. Mr. Faber thinks you’re all in for a very shallow grave.

I’m gonna show you how to bank a fucking fortune this year, whether you voted for the orange pussy grabber or the soon to be imprisoned lady with parkinsons.

The nuclear fallout is palpable, isn’t it? The U3O8 industry is ranked #1 for 2017 — higher by 27% so far. When was the last time uranium stocks lifted off like this?

Answer: never.

Embrace the winship that is before you, space alien magician (SAM), time traveling technologies — used for the purposes of acquiring Count of Monte Cristo type wealth — in order to subsidize and to create the world’s first orbital space cannon (OSC) for offensive purposes only. The terror by which you will endure, through betting against me, will be of a supernatural quality.

I bought $HBM because it’s heading, the fuck, higher.

My goal for 2017 is very simple: keep buying stocks until I run out of money.

A great man once said ‘I got a lotta more for you.’

My biggest winners for the day are $UEC, $YY, $URG, $TDW and $ALNY.

All losses incurred from last year’s slothlike behavior have been made up here, and more, pressing my rights as a gentleman of the markets using space aged technology.

“The Fly’s” reign of terror has begun.

Believe it or not, all roads paved with uranium run through the slavic lands of Kazakhstan. Shares of uranium stocks have exploded to the upside this morning, something yours truly foretold weeks ago, after Kazatomprom, a state run uranium company for Kazakhstan, announced they were cutting back on uranium production by 10%.

Kazakhstan is the world’s largest producer of uranium, representing 39% of world production.

Source: Borat’s favorite website

Kazatomprom Chairman, Askar Zhumagaliyev, announced today that due to the prolonged recovery in the uranium market, planned 2017 production from Republic of Kazakhstan will be reduced by approximately 10%. This will amount to a volume greater than 2,000 MtU or more than 5 million lb U3O8 reduction in 2017 planned output. For greater context, this is equal to 3% of total global uranium production (based on 2015 UxC Consulting figures).

The uranium output of Kazakhstan is produced by mining operations either wholly owned by Kazatomprom, or managed through joint-ventures with international partners. The exact production levels for each mine and JV were determined and approved by their respective management boards, and vary from the overall aggregate 10% figure. These difficult decisions were based on a strategic review of the current oversupplied uranium market, and the unique circumstances and economics of each operation. These adjustments of production levels are also consistent with the provisions of Kazakhstan sub-soil use agreements governing each operation.

Kazatomprom Chairman Askar Zhumagaliyev remarked: “While the outlook for nuclear energy growth continues as strong as it has been in many years, the realities of the near-term uranium market remain in oversupply. Kazatomprom, and its joint venture partners, have had to make responsible decisions in light of these market challenges. These strategic Kazakh mineral assets are far more valuable to our shareholders and stakeholders being left in the ground for the time being, rather than adding to the current oversupply situation. Their greater value will instead be realized when produced into improved markets in the coming years.”

Even with these reductions, Kazatomprom will continue to lead global uranium production and support the growth of nuclear energy around the world. No existing customer contractual commitments are impacted by these strategic decisions.

Spot uranium prices have Mcjumped by 13%.

Spot #Uranium 2450/2550 USc/Lb U3O8 (+300c,+13.6%)

— numerco (@numerco) January 10, 2017

As such, shares of uranium stocks are through the roof.

$UEC, $URG, $UUUU, $URRE, $CCJ, $DNN, $LEU

Based off the predictive algorithms in Exodus, the sector has more upside.

For those keeping track, I put my entire fucking account in UEC at $1.04, back in December.

Joerg Meuthen, leader of Germany’s Alternative for Germany party, wants the eurozone divided in two — with the stronger nations clustered around Germany and the weak ones around France, naturally.

Germany would keep Austria, Finland and the Netherlands and France would keep the PIGS (Portugal, Italy, Greece and Spain).

Sounds like a war in the making.

“The euro is a seed of discord in Europe that has different currency cultures and different competitiveness levels,” Meuthen told Reuters, eight months before the federal election.

Meuthen, widely seen as a moderate in the AfD which represents a wide range of views, said the German economy could suffer in the wake of such a euro zone split but only for a year or two.
“The euro is too strong for southern European countries while for Germany and several others it’s too weak,” he said in a telephone interview.

“It’s conceivable that the weaker countries leave,” he said, mentioning Italy, Spain, Portugal and France. He said Greece is so weak that no country wants to share a currency with it.

Germany, Austria, the Netherlands and Finland should remain in the core euro group, he said, even though a stronger currency would hurt exports from those countries.

“That could cause an economic slump (in Germany),” he said. “It’s impossible to say how deep. But in my view the economic slump would be over in about a year or two.”

Meuthen said the euro exit should not be linked to a fixed exchange rate system. “The currencies need to be able to breathe,” he said.

Nothing is unreasonable about his plans. As presently situated, the EU is a failure and destined to collapse. In this way, Germany gets to rule over wide areas of Europe (their main goal in life), while subjugating others, the weak, to a life of misery and slavery.

Literally, nothing has changed in Germany over the past 100 years.