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Ian King Warns Crypto Investors to Watch Out for Tether

Tether is a cryptocurrency exchange that offers a coin, the tether, that is tied to the United States dollar. That’s what’s called a “stablecoin.” Because they are worth the same as one dollar, stablecoins allow cryptocurrencies to buy and sell positions in different cryptocurrencies without having to cash out from the exchange and deposit actual dollars into a bank account, only to withdraw them again. That creates a taxable event involving capital gains, so it’s much easier and less expensive to exchange one crypto asset for another crypto asset for another because that’s a nontaxable like-kind exchange. However, it only works as long as the stablecoin is truly backed up by a US dollar. Read more on bitcoin about Ian King at Banyanhill.

In a recent article for Banyan Hill Publishing, Ian King warns his readers about possible misbehavior on the part of the Tether exchange. According to Tether’s website, the last audit was conducted on September 15. The accounting firm found $443 million to back up 420 billion tethers. That’s great so far. But that accounting firm has since stopped working for Tether. Also, Tether has issued a total of at least 2.2 billion tethers. Do they have $2.2 billion in a bank account to back up those 2.2 billion tethers?

The United States Commodity Futures Trading Commission sent subpoenas to the group that own both Tether and Bitfinex, another exchange with the same CEO. So far, there have been no results announced from the subpoenas.  Check: https://www.tumblr.com/blog/iankingguru

If Tether really has issued more tethers than it has US dollars to back them up, that’s an ironical situation. That’s the kind of money manipulation bitcoin was created to eliminate. Our current paper money began as receipts for gold held by the local goldsmith, before banks were invented. Gold is heavy and subject to theft. In the old days, even a small gold coin was probably worth a lot more than bushels of wheat in a market, dresses in a store or beer in a tavern, making it difficult to spend for such small transactions. Therefore, people let the local goldsmith hold it in secure storage. The goldsmith gave receipts for the amount of gold. When people did business, they would just sign their receipts over to each other because that was easier than taking it out of storage, handing it over to the other party, who then had to put it back in secure storage. So dishonest goldsmiths could issue more receipts than they had gold in storage.

Read this article at Investopedia about Ian King

 

Ted Bauman reveals how investors can make money off the tax cuts

Just the other day, Ted Bauman wrote an article predicting the implications of the tax cuts passed by the House of Representatives recently. He goes further to reveal how investors can benefit from this action and make some money off of it. R. Bauman begins the article with a personal account of his younger years more than 30 years ago when he landed in South Africa. In South Africa the United States dollar was far much stronger than the South African Rand back then, Ted immediately spotted an opportunity and consequently bought an asset which has paid off all through. In the article, Ted recommends this move to his readers encouraging them that they could never go wrong. Ted goes further to elaborate reasons as to why he finds this to be the most pertinent time to strike by saying that he predicts a weakening of the US dollar in most financial markets in the near future in the wake of the recently passed tax cuts by the house of representatives. Visit crunchbase.com to know more about Ted Bauman.

Ted took his time to break down the financial market dynamics and how they relate to different economic indicators of any given country. A strong dollar is beneficial to Americans traveling abroad especially to countries where their currency is weaker compared to the dollar as they find stuff there to be really cheap and hence affordable while on the other hand, products made in the US find it hard to penetrate such markets since the products seem to be highly priced. This in effect hurts the US manufacturing sector and therefore increasing the rates of unemployment given that the industry is one of the country’s top employer. On the other hand, a strong US dollar means that imports from countries with weaker currency when compared to the dollar seem cheap and affordable to most American consumers hence their preference which also, in turn, hurts the manufacturing and industry and balance of trade. Read this articles about precision profits, click here.

Analysts predict that the tax cuts will cause a $1.5 trillion federal deficit which will, in turn, lead to a weakened US dollar making it the perfect time to invest in foreign assets that are priced at local currencies which are weaker compared to the dollar. When the dollar starts dropping, the value of the foreign assets will thus be higher in US dollars than when you bought them.

Ted Bauman is an experienced financial expert who specializes in asset protection and low-risk investment.

Learn more:https://plus.google.com/+TedBaumanGuru