In The News Today

Posted at 10:27 AM (CST) by & filed under In The News.

Magufuli Takes A Hit At Bureaucracy, Vows To Fix Business Bottlenecks At Meeting With Businessmen
June 7 2019

Dar es Salaam. President John Magufuli has pointed out a number of key issues that are derailing efforts to improve the business environment in Tanzania, and vowed to address the challenges.

The Head of State slammed both state-owned institutions and the business community for creating an unfavorable business climate.

He said the existence of excessively complicated administrative procedures in government was one of the factors that discourage the sustainable growth of business activities.

Magufuli made the remarks while addressing businessmen and women from all districts and regions across the country during a meeting held at the State House on Friday, June 7, 2019.

“The current bureaucracy in the government makes it difficult for the business environment to improve in the country,” said the Head of State.

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Tanzania: Magufuli Demotes TRA Commissioner Kichere Amid Apparent Gloom in Business Community
June 8, 2019

Dar es Salaam — President John Magufuli on Saturday June 8 demoted Mr Charles Kichere from the position of Commissioner General of the Tanzania Revenue Authority (TRA) to Njombe Regional Administrative Secretary (RAS).

The new development comes a day after the president held a meeting (Friday June7) at State House, with a cross section of traders drawn from various parts of the country.

Mr Kichere, who was at the meeting found himself in a tight spot as the traders vented their frustration over TRA’s performance. The traders laid their case at the no-holds-barred forum which was held to discuss the business environment.

The hundreds of traders spent more than 10 hours at the State House, pouring their hearts out over the difficulties they were facing doing business.

An unfair taxation regime, harassment by security and regulatory agencies, bureaucracy, corruption dominated cries from the traders, some of whom blamed ministers for letting down the President and complicating the business climate in Tanzania.

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Bill Holter’s Commentary

A very well done reply to the “DropGold” movement from Goldmoney.com.  This is very long but well advised to read, if you cannot read the entire text there is a conclusion at the end with bullet points.

Drop Gold and The Myths We’re Told
May 23, 2019

A Naturalist Exposition of Gold’s Manifest Superiority to Bitcoin as Money

Introduction

The purpose of this paper is to formally address public statements and representations made by Grayscale Investments, LLC (“Grayscale”) and its principal, Barry Silbert, beginning on or about May 1, 2019, through an advertorial campaign entitled: “DropGold,” which was ostensibly designed to educate precious metal investors on the relative advantages of Bitcoin, the digital cryptocurrency invented in 2009, in relation to Gold, the naturally-occurring element (Au) on the periodic table of elements.[1] Before addressing these statements and representations, allow me to begin by sharing with the reader my qualifications in providing this sobering analysis that I hope will sufficiently falsify the core claims made by Grayscale.

Over the past 18 years, I have been a professional investor actively participating in global financial markets. I have managed an investment fund and have founded three publicly traded companies which, together, have created hundreds of millions of dollars in wealth for institutional and retail investors around the world. Over a specific period in my career (2008-2014), I was primarily involved in the extractive industries, investing, owning and exploring for the geological resources in the form of hydrocarbons (Oil, Coal, Natural Gas), base metals (copper, zinc, tin, lead), and precious metals (Gold, silver, platinum, and palladium). The main company and investment vehicle I have been associated with over the recent past is Goldmoney Inc., which owns Goldmoney.com—an online investment platform that safeguards nearly $2 billion of precious metals in 13 physical vaults around the world for nearly 1.5 million clients.

I have been actively involved with Bitcoin and cryptocurrency since their inception, and I have made my involvement public for at least eight years. I have owned and invested in Bitcoin since at least 2010, own multiple cryptocurrency patents, and have founded “BitGold.com,” which was the first blockchain based cryptocurrency-to-physical-Gold platform to reach any meaningful scale. In 2017, I founded Bitfarms, one of the largest proof-of-work cryptocurrency mining operations in North America, and I remain one of its largest shareholders. I am also one of the founders and the current Chairman of Fortress Technologies, which owns and operates a 2.5MW cryptocurrency mine in Washington state. I am a leader in both the cryptocurrency and precious metal industries, with a long-standing track record of success in both. Given this confluence of experience, I believe I am uniquely positioned to provide a well-reasoned, authoritative counter argument to the debate which has recently ensued as a result of the DropGold campaign.

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The Precious Metals Super Sale Continues!!
June 10, 2019

 Great and Wonderful Monday Morning Folks,   

      The game we’re in is all about manipulations. These schemers are here to sway our opinion away from the truths called financial facts by using prices to dictate supply and demand instead of the other way around with August Gold down $16.50 at $1,329.60, and ironically at the absolute low at $1,329 with the high at $1,341.70. Silver is leading the decline with its trade at $14.705, it too right at the low at $14.69 we seem to always get when London is about to leave the trade with the high at $15.01 so far today. The US Dollar is benefiting from this pullback with its trade at 96.835, up 34.5 points and close to its high at 96.88 with the low way down at 96.575. All of these beatings happened before 5 am pst, the Comex open, the London close, and before any physicals have traded.     

      The Venezuelan Bolivar’s value has pushed Gold lower in the early morning trade with the Nobel metal at 13,279.38 Bolivar, losing 98.88 with Silver losing 1.848 at 146.866 Bolivar. Argentina’s Peso now has Gold valued at 59,629.48 losing 507.86 A-Pesos with Silver reaching down to 659.450, losing 9.019 Pesos. Turkey’s Lira now has Gold priced at 7,717.97 it too losing 109.92 in Lira value with Silver losing 1.6678 in value with its price at 85.3439 T-Lira.    

      These prices that have been quoted this morning are the futures prices, not the physical demands. Why? Because so far, since the markets have opened last night at 6 pm est, there have been NO PHYSICALS TRADED AT ALL! No June Gold purchases or sales, and the same goes with Silver, but the prices are lower, because the futures is anticipating what? No sales at these prices? LOLOLOLOL.    

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Bill Holter’s Commentary

Obvious (to some) that this should not be necessary as we have the 1st Amendment but I guess it covers those who say “not my Constitution/not my president?

Texas Governor Signs Sweeping New Law Protecting Free Speech On College Campuses
June 10, 2019

Authored by Jennifer Kabbany via TheCollegeFix.com,

Declares outdoor areas public forums, punishes students who interfere with others’ speech 

 

 

 

 

 

 

 

 

Texas Gov. Greg Abbott on Sunday signed a sweeping new law that aims to protect free speech on college campuses across the Lone Star state.

“Some colleges are banning free speech on college campuses,” the governor said in a video released on Twitter on Sunday as he signed the bill. “Well, no more. Because I am about to sign a law that protects free speech on college campuses in Texas.”

“Shouldn’t have to do it. First Amendment guarantees it,” he added. “Now, it’s law in Texas.”

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