De-Dollarization Accelerates: Iran Unveils Gold-Backed Cryptocurrency

 

Four banks in the Islamic Republic of Iran have developed a gold-backedcryptocurrency called PayMon, financial news website Financial Tribune reported on Jan. 30.

According to the article, the crypto asset has been developed in cooperation with the Parsian Bank, the Bank Pasargad, Bank Melli Iran and Bank Mellat. Iran Fara Bourse, an over-the-counter (OTC) cryptocurrency exchange, will reportedly list the new cryptocurrency. Continue reading

U.S. Cash to Iran May Have Funded Attack on American Navy

Lawmakers fear Iran spending American dollars to fund global terror operation

Leading members of Congress suspect a portion of a recent $1.7 billion cash payment to Iran may have been used to help arm and support Yemeni terrorists who recently fired missiles on a U.S. Navy ship in the Red Sea, according to a new congressional inquiry that seeks to determine how U.S. taxpayer funds are being used by Iran to boost its global terror operation.

Iran is believed to have used a large portion of the $1.7 billion, suspected to have been paid by the United States as part of a ransom to free U.S. hostages, to fund its global terror operation and strengthen its military, according to conversations with lawmakers who told the Washington Free Beacon that U.S. taxpayer funds are likely being used to sponsor attacks on American military forces. Continue reading

China Could Control the Global Internet After Oct. 1

https://i0.wp.com/img.theepochtimes.com/n3/eet-content/uploads/2016/09/14/ICANN_Chair-463030862.jpg

ICANN Chairman Steve Crocker speaks during the opening of the ICANN meeting in Singapore on Feb. 9, 2015. The U.S. plan to relinquish control of ICANN opens the door for China to have greater influence over the global internet. (Roslan Rahman/AFP/Getty Images)

 

The handover of ICANN, the body that governs domain name registration, fits into a strategy by the Chinese regime to determine how the Internet is run

In November 2014, Li Yuxiao, a research fellow at the Chinese Academy of Cyberspace, stated, according to the state-run China Daily, “Now is the time for China to realize its responsibilities. If the United States is willing to give up its running of the internet sphere, the question comes as to who will take the baton and how it would be run?”

“We have to first set our goal in cyberspace, and then think about the strategy to take, before moving on to refining our laws,” he said.

Li’s comments were in response to news, also in 2014, that the United States would relinquish its remaining federal government control of the internet by ending its contract between the Commerce Department and the Internet Corporation for Assigned Names and Numbers (ICANN), which is scheduled for Oct. 1. Continue reading