De-Dollarization Accelerates: Iran Unveils Gold-Backed Cryptocurrency

Image courtesy of CoinTelegraph

 

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.

The Threat of Communism: Then and Now

Soviet-era Dissident Vladimir Bukovsky speaks at an opposition meeting in Moscow, 17 December 2007. Bukovsky is a potential united oppostion candidate for president in Russia’s March 2008 presidential elections. AFP PHOTO / ALEXEY SAZONOV (Photo credit should read Alexey SAZONOV/AFP/Getty Images)

 

One of the most famous enemies of Soviet communism is Vladimir Bukovsky. He was tortured by Soviet authorities. He spent many years in Soviet prisons. He was even declared “insane” and sent to a psychiatric prison. When Bukovsky was exiled to the West, people paid lip service to his courage; but few heeded his warnings about Gorbachev’s Perestroika.

Bukovsky reminded everyone that all Soviet leaders were liars. Gorbachev, he said, was no exception—and was certainly no democrat. Like Lenin, Stalin, Khrushchev, and Brezhnev, Gorbachev was a liar and a hangman. But hardly anyone listened. Everyone wanted to believe the Cold War was over.

But how could we have won the Cold War? This was the inconvenient question Bukovsky asked. Random House senior editor Jason Epstein rejected Bukovsky’s question altogether. And so, Bukovsky’s book on the equivocal “fall of communism” was not published in English—until now.

‘Your time is up’ South Africa sets date for white farmer land grabs – March 2019

DEBATE: There were heated scenes as politicians debated the proposals (Pic: GETTY)

 

SOUTH Africa has set a date for when its much-criticised land expropriations can begin after a politician declared: “Your time is up, white people”.

The country’s National Assembly approved a proposal to change the constitution to make the so-called reforms legal in a vote of 183 to 77.

Hong Kong Overtakes New York as City With Most Super-Rich People

 

More proof that the Hong Kong transfer was a colossal loss for Great Britain, and a massive gain for China

Hong Kong has overtaken New York City to become the city home to more super-rich people than any other metropolis on the planet, according to a study published on September 6 by the Wealth X research firm.

The study tallies the number of individuals worth $30 million or more, labeling them ultra-high net worth individuals. In recent years, the number of these individuals living in Hong Kong has risen to about 10,000.

As Land Confiscations Loom, South Africa Rules 300,000 Gun-Owners Turn Over Their Weapons

The Constitutional Court of South Africa recently ruled that 300,000 gun owners must turn in their firearms.

 

South Africa is opening the door for tyranny.

This judgement came in response to the North Gauteng High Court’s ruling in 2017 which said Section 24 and Section 28 of the Firearm’s Control Act were unconstitutional.

A report from The Citizen explains what Section 24 and Section 28 entail:

“Section 24 of the Act requires that any person who seeks to renew a licence must do so 90 days before its expiry date Section 28 stipulates that if a firearm licence has been cancelled‚ the firearm must be disposed of or forfeited to the state. A 60-day time frame was placed on its disposal, which was to be done through a dealer.”

South Africa Civil War Concerns Growing

(Photo Credit: Gary van der Merwe via Creative Commons 3.0)

 

President Cyril Ramaphosa insists his government’s confiscation of white farmer-owned land without compensation is “no land grab,” but rather a “moral, social, and economic imperative.” He added:

“By bringing more land into productive use, by giving more South Africans assets and opportunities, the country is creating conditions for greater, more inclusive, and more meaningful growth.”

Yet social media posts out of South Africa tell a completely different story. In one video clip, black protesters can be seen chanting:

“Let us kill the white man. The white man must die.”

BRICS in a multipolar world

This week, South Africa is hosting the 10th annual gathering of BRICS (Brazil, Russia, India, China, and South Africa). When the first BRIC summit was held in 2009 (South Africa was added in 2010), the world was in the throes of a financial crisis of the developed world’s making, and the increasingly dynamic BRIC bloc represented the future. By coming together, these countries had the potential to provide a geopolitical counterweight to the West.

But Western commentators have long underestimated that potential, forcing BRICS to demand greater representation in global-governance institutions. In 2011 and 2012, BRICS challenged the process of selecting leaders at the International Monetary Fund and the World Bank. But, lacking a united front behind them, a European (Christine Lagarde) and an American (Jim Yong Kim) continued to preside over those organizations. And though BRICS did get these institutions to reform their voting structures to give developing countries greater weight, the US and Europe still wield disproportionate power.

The “Hitler Of South Africa” Tells White People, He Won’t Kill Them…Yet!

 

Earlier this week while most of the world was transfixed on the World Cup, the Trump/Kim handshake, or a multitude of other sundry events, Julius Malema, aka the Hitler of South Africa, was busy telling white people in his country that he’s not going wage genocide against them. Yet.

In an interview with TRT World News published this week, Malema said, “We have not called for the killing of white people. At least for now. I can’t guarantee the future.”

The U.S. Should Be Reaching out to Russia — Not Risking War

 

There’s no greater villain in the world today than Vladimir Putin. He stands accused in the media and global public opinion of rigging his recent reelection, imprisoning his political enemies, murdering Russian spies turned double-agent, meddling in Western elections, seizing Crimea, destabilizing Ukraine, supporting a murderous dictator in Syria and exporting arms to terrorist nations like Iran.

The list of bad acts laid at Putin’s feet is much longer than the one just recited, but you get the idea. He’s no Mr. Nice Guy.

If War Comes, Russia Could Disconnect from the Internet. Yes, the Entire Country

ALEXEI DRUZHININ, SPUTNIK/AP

 

Robust internal networks will keep the military and government operating, says Putin’s top IT advisor.

A two-year-old effort to allow the Russian military to rely solely on internal networks during wartime has apparently blossomed into support for a digitally isolated government and civil society as well, a top advisor to Vladimir Putin said this week.

What is really scarce in a water drought

A communal tap runs as people collect water in an informal settlement near Cape Town, South Africa, Jan. 23. While the city urges people to restrict water usage, many living in poor areas already have limited access to water, and the day that the city runs out of water, ominously known as \”Day Zero,\” moves ever closer for the nearly 4 million residents. (AP Photo)

 

FEBRUARY 22, 2018 —Earlier this year, the South African city of Cape Town was told that it would make history by April 16. On that date, dubbed Day Zero, it was expected to become the world’s first major city to run out of water because of an extended drought. More than 1 million households would face extreme rationing or no water at all as reservoirs went dry.

But then something happened. The date was pushed back to June 4. And this week, Day Zero was set for July 9.

Worst Drought in Capetown in 112 Years – Part of the Cycle

 

QUESTION: Marty,

Any thoughts/comments regarding the impending water shortage in Capetown? As a person who has much historical knowledge, are you aware of a major city such as Capetown ever running out of water? Or is this truly a historical first?

Russia, China, India Unveil New Gold Trading Network

Deputy Governors of the People’s Bank of China and Bank of Russia sign Memorandum on Gold Trading, Sochi, September 2017. Photo: Bank of Russia

 

One of the most notable events in Russia’s precious metals market calendar is the annual “Russian Bullion Market” conference. Formerly known as the Russian Bullion Awards, this conference, now in its 10th year, took place this year on Friday 24 November in Moscow. Among the speakers lined up, the most notable inclusion was probably Sergey Shvetsov, First Deputy Chairman of Russia’s central bank, the Bank of Russia.

In his speech, Shvetsov provided an update on an important development involving the Russian central bank in the worldwide gold market, and gave further insight into the continued importance of physical gold to the long term economic and strategic interests of the Russian Federation.

Firstly, in his speech Shvetsov confirmed that the BRICS group of countries are now in discussions to establish their own gold trading system. As a reminder, the 5 BRICS countries comprise the Russian Federation, China, India, South Africa and Brazil.

Russia plans to create an ‘independent internet’ by 2018 to protect it from ‘global internet malfunctions’ – but critics say the plan could make it easier to launch its own attacks

The Russian government has revealed plans to develop an ‘independent internet’ that operates separately from the Domain Name System used worldwide. According to Russian news site RT, Russian President Vladimir Putin (pictured) is targeting August 1, 2018 for its completion

 

• Russian Security Council met in October to discuss an ‘independent internet’
• Would cover Brazil, Russia, India, China, and South Africa with alternative DNS
• Currently, a global Domain Name System (DNS) is used to connect to internet
• While they cited security concerns, others suggest it could be used maliciously

The Russian government has revealed plans to develop an ‘independent internet’ that operates separately from the Domain Name System used worldwide.

During a recent meeting of the Russian Security Council, officials discussed an initiative to create an alternative to the DNS, claiming the move could protect Russia and a handful of other nations in the event of a large-scale cyberattack.

Cracks in Dollar Are Getting Larger

 

Many Daily Reckoning readers are familiar with the original petrodollar deal the U.S made with Saudi Arabia.

It was set up by Henry Kissinger and Saudi princes in 1974 to prop up the U.S. dollar. At the time, confidence in the dollar was on shaky ground because President Nixon had ended gold convertibility of dollars in 1971.

Saudi Arabia was receiving dollars for their oil shipments, but they could no longer convert the dollars to gold at a guaranteed price directly with the U.S. Treasury. The Saudis were secretly dumping dollars and buying gold on the London market. This was putting pressure on the bullion banks receiving the dollar.