MY TRADE NOT YOURS
We’ll see how it goes
U.S. President Donald Trump on Wednesday signaled a new direction in U.S.-China trade talks and said any deal would need “a different structure,” fueling uncertainty over current negotiations and sending U.S. stocks lower.
In an early morning post on Twitter, Trump said the current track appeared “too hard to get done” and cited difficulties such as verification, but he gave no other details about what he or his administration was looking for amid ongoing negotiations.
Representatives for the White House did not respond to a request for more information about the president’s statement. Representatives for China’s Foreign Ministry did not immediately respond to a request for comment on Trump’s statement.
“Our trade deal with China is moving along nicely, but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion,” Trump wrote in his post.
Bitcoin has been flirting for some time with the critical support located around $6000-$6500, and each time the support has held strong. But continued failed attempts time and time again to push up to and through the critical resistance at $11500 is a very bad sign for the immediate value of BTCUSD … each failed attempt increasing the likelihood we will fall below $6k. Once the support becomes resistance, we can expect to stay there for an extended period.
Essentially whichever of those two lines we cross first and stay across over 24 hours will tell everyone which way BTC is going for the rest of the summer.
I remain long term, but not until late 2018 do I expect us to recover from this extended downward movement. It seems likely after the pronounced drop of the past 48 hours, we will see a brief recovery, before testing $6k once again – but will it hold this time?
Please give me a thumbs up if you agree. If you don’t write a comment telling us why. This analysis is for educational purposes only and not a recommendation to buy or sell. Always do your own research before trading.
Today we will be analyzing the EUR/USD short-term and long-term targets.
We have just broken through and closed below the 1.172 major support on the 1 hour and 4 hour time frames and were currently retesting that zone. The target over the next 24hours would be to be falling towards the 1.15 area of support.
We could be in the process of forming on the 1-day time frame. This would be a strong reversal at the 1.157 heading back up towards 1.20.
Below is a link to my first video analysis-
Having tested $8,000 last week, and bounced, Bitcoin has broken back below it – to six-week lows – as the entire crypto-space is under pressure following China crackdown headlines and news that India is considering a major crypto tax.
It’s a sea of red across cryptos…
So much for Blockchain Week…
And the entire cryptospace is accelerating lower…
While it is never clear what the driver of price action is, news from China and India appear to major potential catalysts in the last 24-48 hours…
According to the anonymous parties with “direct knowledge” of the plans, the government’s Central Board of Indirect Taxes is considering applying the 18 percent tax to exchange operations, which it would view as “intangible goods.”
“Purchase or sale of cryptocurrencies should be considered as supply of goods, and those facilitating transactions like supply, transfer, storage, accounting, among others, will be treated as services,” the publication reports in a summary.
India has so far refrained from issuing regulations on cryptocurrency, despite efforts by its central bank to reduce the ability of businesses and citizens to interact with them.
If the taxation rule goes ahead, it would signal a move towards legitimacy of the industry in the continued absence of hard-and-fast legislation.
“If buyers and sellers are in India, the transaction would be treated as a supply of software and the buyer’s location will be the place of supply,” Bloomberg continues, noting elsewhere that: “Transactions beyond the Indian territory will be liable for integrated GST, and would be considered as import or export of goods. IGST will be levied on cross-border supplies.”
The move is not the first targeting taxation of cryptocurrency in India. In February, letters were sent to around half a million traders demanding they report profits on exchange activities.
Meanwhile, CoinTelegraph notes a new report issued by China’s Ministry of Industry and Information Technology, reiterated the Chinese government’s concerns about “certain risks that cannot be ignored” in regards to ICOs, pyramid schemes, and fraud, with a new government-led study detecting 421 fake cryptocurrencies in China’s crypto space.
The post Cryptos Crushed: Bitcoin Battered Below $8k On China Crackdown, India Tax appeared first on crude-oil.news.
Former Trump campaign aide and Republican consultant Michael Caputo has provided more details about what he believes was another attempt to infiltrate the Trump campaign during the 2016 U.S. election – long before FBI informant Stephan Halper infiltrated the Trump campaign, targeting several aides. Speaking on Tuesday with Fox News and One America News Network (OANN), Caputo said he refused an offer from a former NSA contractor who said he had Hillary Clinton’s emails.
“I was approached by an intermediary who had been talking to a former government official who told him that they had Hillary Clinton related emails at the – at that government organization, and that they wanted to get them to the Trump campaign.”
SCOOP: Fmr Trump Advisor Michael Caputo confirms to @OANN that the second informant who reached out to him and offered Hillary’s missing emails claimed to be from the NSA
— Jack Posobiec (@JackPosobiec) May 22, 2018
Key read: Claimed to be NSA. Typically NSA does not run informants, FBI/CIA does
— Jack Posobiec (@JackPosobiec) May 22, 2018
Michael Caputo responds to @OANN on recent article about the 2nd informant. “This is pure BS. People are taking my words out of context to push an agenda”
— Jack Posobiec (@JackPosobiec) May 23, 2018
“We believed that to mean at the time if you remember, early May, that Hillary Clinton had revealed that she had deleted 30,000 emails and we believed that meant that they had those 30,000 emails.”
“By the time the 16th of may came around, I came to the conclusion that I did not want to take possession of these emails. I thought they might be classified documents, and I urged through the intermediary, that the people at the government organization do it through a proper whistleblower process.”
Caputo: I gave this information to the Senate Intelligence Committee two weeks ago. And I gave this information to the Mueller team, and they never reached out to the intermediary to check on it.
Neil Cavuto: Wait a minute, so you raised this issue with Mueller’s team when they were questioning you, and they did nothing?
Caputo: They weren’t even interested. They didn’t even seem to be taking notes.
The post Second Trump Campaign Spy Was From NSA, Offered Hillary’s Emails: Caputo appeared first on crude-oil.news.
Reuters reports the eruption in Hawaii is entering a new, more violent phase with lava exploding as it pours into the ocean, shooting rock fragments that are a danger to boaters.
Inland, where molten rock is burning through jungle, methane explosions are hurling boulders while toxic gas is reaching some of the highest levels seen in recent times.
On the volcano’s east flank, nearly two-dozen fissures are producing 15,000 tons a day of toxic sulfur dioxide, a level “much higher than seen in recent times,” Bravender said.
Aditionally, Reuters notes that the race at the Puna Geothermal Venture site marked the latest challenge facing authorities during what geologists call an unprecedented, simultaneous eruption at Kilauea’s summit and from giant fissures 25 miles (40 km) down its eastern side.
“Fissures near Puna Geothermal Venture are active and producing lava slowly flowing onto the property,” Civil Defense said in a statement. “This activity has destroyed the former Hawaii Geothermal Project site,” it said referring to the warehouse.
Many are asking, why now, why so suddenly, why such an “unprecedented, simultaneous” eruption?
John Rappoport asks the uncomfortable question – Did fracking cause the Hawaii volcano eruption?
On the Big Island of Hawaii, where the Kilauea volcano has explosively erupted, there is a geothermal energy plant. It is the Puna Geothermal Venture (PGV) Plant, in Puna.
There is a long-running debate about whether PGV is fracking. The debate may be a matter of terminology, because in the geothermal process, as hawaiifracking.com reports, “…the drilling and the injection of cold water into hot rocks used in geothermal energy plants does fracture the rocks, which can induce earthquakes and through contamination of the atmosphere and water tables can affect our health and safety.”
Whether deep injection of fluid aims to capture oil, gas, or heat (geothermal), the beginning stage of the process is the same.
Earthquakes induced by this water-injection could obviously trigger a volcano.
For example, here is an alarming article about a geothermal project in Switzerland. Swissinfo.ch, December 10, 2009:
“The authorities in canton Basel City say they will cancel a geothermal energy project, which three years ago caused minor tremors that damaged many buildings.”
“A risk analysis study published on Thursday found that the danger of setting off more earthquakes was too great if drilling at the site resumed.”
“The project was put on hold three years ago after thousands of claims for damage were filed with insurers. Total costs for the damage were around SFr9 million ($8.78 million).”
“The study, commissioned by the canton, concluded that Basel was ‘unfavourable’ for geothermal power generation.”
“It said the resumption of Deep Heat Mining project and its operation over a 30-year period could set off around 200 tremors with a strength of up to 4.5 on the Richter Scale – in 2006, the quakes were about 3.4.”
“This would result in damages up to SFr40 million.”
“The Basel facility drilled five kilometres into the earth. The borehole was designed to be injected with water to capture the extreme heat. Back at the surface, the hot water – at a temperature of around 160° Celsius – would run a steam turbine coupled with a generator.”
This Swiss article outlines the risks, and also confirms that deep water-injection is used in the geothermal process—which can and does trigger earthquakes.
Here is another reference—The Guardian, July 11, 2013:
“Pumping water underground at geothermal power plants can lead to dangerous earthquakes even in regions not prone to tremors, according to scientists.”
“Prof Emily Brodsky, who led a study of earthquakes at a geothermal power plant in California, said: ‘For scientists to make themselves useful in this field we need to be able to tell operators how many gallons of water they can pump into the ground in a particular location and how many earthquakes that will produce’.”
“It is already known that pumping large quantities of water underground can induce minor earthquakes near to geothermal power generation and fracking sites. However, the new evidence reveals the potential for much larger earthquakes, of magnitude 4 or 5, related to the weakening of pre-existing underground faults through increased fluid pressure.”
“The water injection appears to prime cracks in the rock, making them vulnerable to triggering by tremors from earthquakes thousands of miles away. Nicholas van der Elst, the lead author on one of three studies published on Thursday in the journal Science, said: ‘These [injected] fluids are driving [earthquake] faults to their tipping point’.”
“The analysis of the Californian site showed that for a net injection of 500m gallons of water into the ground per month, there is an earthquake on average every 11 days.”
“Heather Savage, a co-author on the same study said: ‘It is already accepted that when we have very large earthquakes seismic waves travel all over the globe, but even though the waves are small when they reach the other side of the world, they still shake faults [such as the faults induced by geothermal water-injection]. This can trigger seismicity in seismically active areas SUCH AS VOLCANOES where there is already a high fluid pressure.” (emphasis added)
So, on the Big Island of Hawaii, where there is a massive volcanic eruption underway, there is a geothermal plant, PGV. How close to the volcano is PGV?
The Washington Post, May 12:
“Long a concern for residents and the target of lawsuits challenging its placement ON AN ACTIVE VOLCANO, the Puna Geothermal Venture (PGV) is a major safety issue [i.e., chemicals stored at PGV] in the wake of the eruptions and earthquakes that have shaken the Big Island for days, government officials say.” (emphasis added)
I see. PGV is ON the volcano. Other reports claim PGV is 15 miles from the volcano. In either case, PGV is close, very close.
Who owns PGV? Ormat Technologies. Through internal merger and stock swapping, Ormat appears to be a jointly owned Israeli and US company now.
Ormat is no stranger to scandals. At blog.heartland.org, H Sterling Burnett writes (4/1/15):
“One scandal that could haunt [Harry] Reid for his remaining time in the Senate (and possibly beyond) was reported on recently in the Washington Free Beacon and Courthouse News. It seems the Reid helped the green energy company, Ormat Technologies, a firm that owns and manages geothermal plants in California and Hawaii, secure nearly $136 million in economic stimulus funding from the 2009 American Recovery and Reinvestment Act.”
“Two former employees are suing the firm, claiming Ormat executives defrauded the United States of more than $130 million by reporting false information about two projects to get government grants, a federal judge ruled Tuesday.”
“Reid’s ties to Ormat are deep. The company runs geothermal plants in Nevada and Reid has been a big booster of the company in D.C. As reported in the Free Beacon, ‘Reid bragged about securing Ormat a $350 million loan guarantee from the Department of Energy (DOE) and took credit for expanding the Treasury program that the former employees say illicitly provided Ormat with millions more in taxpayer funds’.”
“It is also worth noting that Ormat’s DOE award came a year after investors sued the company for allegedly inflating its stock price through ‘fraudulent accounting and overstated financial results.’ Ormat settled the allegations in 2012 for $3.1 million.”
Ormat potentially faces a much larger scandal now: A massive volcanic eruption on the Island of Hawaii.