In The News Today

Posted at 9:10 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

On the other hand, gold and silver actually prefer the “dark”…

One of the Biggest Crypto Exchanges Goes Dark and Users Are Getting Nervous
January 12, 2018

One of the biggest cryptocurrency exchanges has been down for hours and its clients are starting to freak out.

Kraken went offline at 9 p.m. Pacific Time on Wednesday for maintenance that was initially scheduled to last two hours, plus an additional two to three hours for withdrawals, according to an announcement on the San Francisco-based company’s website.

“We are still working to resolve the issues that we have identified and our team is working around the clock to ensure a smooth upgrade,” according to a status update on Kraken’s website posted seven hours ago. “This means it may still take several hours before we can relaunch the site.”

In previous updates, Kraken mentioned it’s working on “unexpected and delicate issues” and assured clients their funds were secure, adding that “Yes, this is our new record for downtime since we launched in 2013. No, we’re not proud of it.”

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Bill Holter’s Commentary

…now show us yours!

Move Over Fort Knox: Here’s An Actual Look Inside Russia’s Gold Vaults At Their Gold Reserves
January 10, 2018

It’s no secret that Russia has been stacking the shiny phyzz for years, and here’s a glimpse showing exactly how they stack…

Article originally sourced via English Russia

Photos from main gold storage of Central Bank of Russia. Almost 1800 tons of gold is stored here. This is the main storage of gold in Russia. This makes Russia to be number six in the world by gold storage.

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Bill Holter’s Commentary

Grab the popcorn for this one folks!

New Survey Reveals Staggering Number Of People Are Buying BitCoin On Their Credit Cards
January 12, 2018

A few weeks ago we presented anecdotal evidence from Joseph Borg, director of the Alabama Securities Commission, suggesting that people are taking out home equity loans and cash advances on credit cards just to purchase BitCoin in the hopes of getting rich quick (see: “It’s In The Mania Phase”: Securities Regulator Warns That “Mortgages Are Being Taken Out To Buy Bitcoin”)

“We’ve seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines,” said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission.

“This is not something a guy who’s making $100,000 a year, who’s got a mortgage and two kids in college ought to be invested in.”

“You’re on this mania curve. At some point in time there’s got to be a leveling off. Cryptocurrency is here to stay. Blockchain is here to stay. Whether it is bitcoin or not, I don’t know,” Borg said in an interview with “Power Lunch.”

Now it seems that the speculation by Borg has been confirmed by a new survey conducted by LendEDU which found that, among other things, nearly 20% of people who have purchased BitCoin have done so using their credit cards.

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