Is Ethereum in a Bubble or the Real Deal?
Ethereum rose 40% last week, nearly 300% last month and is up over 2500% since last year.
Former FBI Director Comey admits he is a coward and a leaker and that Flynn is a good guy.
China and Russia Load up on Treasuries, PBOC halts gold purchases.
Rumors of big gold buy within the month to rock the markets?
Top stories:
Comey leaks
Former FBI Director James Comey testifies. Admits he leaked his memo summarizing his conversation with Donald Trump through a friend to the NY Times, in hopes of getting a special prosecutor. Is this a violation of his employment agreement and a violation of 18 USC 641 which restricts public officials from appropriating government property.
Comey testified that he took notes of his meeting with Trump but no other president he had ever met with because he thought Trump as a liar.
Trump hopes
Comey claimed that when Trump said “I hope you can see your way clear to letting this go, to letting Flynn go. He is a good guy. I hope you can let this go,’ he took it as an order even though he said hope. Rather than interpreting it as an order immediately and telling the President that such comments are inappropriate and perhaps criminal, or asking the President for clarification, Comey responded by saying “I agree, Flynn is a good guy.”
Director Comey notified no one outside his department of his conversation with Trump and did nothing until after he got fired. His response was to have a friend leak his memo to the NY Times.
Comey Sits
If Director Comey believed Trump had committed a crime in attempting to obstruct justice, he had an obligation to report it. He didn’t. Further, when asked in congressional testimony last month (after his meeting with Trump) if he had ever been asked to stop an investigation he said it had not happened, indicating that Comey created the obstruction narrative after he got fired. Comey also noted that “in theory” the Justice Department can ask the FBI to halt an investigations.
Left wing Attorney Alan Dershowitz made the point that the President is within his Constitutional rights to DIRECT, not hope, that the FBI drop a case. Indeed, Dershowitz made the point that the President could have told Comey to stop the investigation because he was going to pardon Flynn and gave examples of other Presidents taking similar actions.
Comey Cowers
Democratic Senator Feinstein asked Director Comey But why didn’t you stop and say, ‘Mr. President, this is wrong – I cannot discuss that with you’?”. Comey responded by saying, “That is a good question, Maybe if I were stronger, I would have,” “I was so stunned by the conversation that I just took it in.”
And did nothing.
The head of the FBI was stunned that a crime in his mind MAY have been committed and became paralyzed that he could not do his job! He clearly did not do or understand his job.
Another Senator asked him if Trump ordered him to stop the investigation and Comey responded- not in words.
It seems Comey WANTED to entrap the President by leaking the memo. Also Comey had refused to publicly state that the President was not under investigation (allowing the media to continue to speculate that he was), highlighting his intent to bring the President down.
Comey Volunteers that Former Attorney General Loretta Lynch Interfered in the Hillary Clinton “Matter”
Comey – Loretta lynch asked me to not call the Hillary Clinton crimminal investigation an investigation – She said just call it a matter. Comey did not report this direct order to anyone.
Is Ethereum in a bubble?
Putin meets with Ethereum Founder
Value and Number of Initial Coin Offerings Using ETH Soars.
Market cap of Ethereum reaches 68% of Bitcoin.
Ethereum Trading volume past 24 hours EXCEEDED Bitcoin’s $2.039 billion vs $1.965 billion.
Bancor Market Cap is 1 million Ether
What is a bubble?
Something that goes up too fast too soon? Something that won’t stop rising? Something that rises without basis? Something that rises seemingly in a manner different than other assets that have risen? How long do bubbles last? Can one profit from a bubble?
How to value a crypto currency?
Pre IPO Gains are often massive/”bubble like” but hidden from the public
Perhaps pre IPO gains are in public view for ethereum
Compare Penny Stock Gains
Not everything that goes straight up is in a bubble.
Bubbles burst as there is little or no underlying value. Assets that are the real deal that rise too high to fast correct, but rise again.
Charts of the Week
You can buy Bitcoin, Ethereum and Litecoin through Coinbase.
Click HERE to open a coin base account and get $10 worth of Bitcoin!.*
Four Main Factors That Explain 3,000 Percent Rally of Ethereum in 2017
Bigger than bitcoin? Enterprise Ethereum Alliance grows in size
Latest Additions Move Enterprise Ethereum Alliance Toward Mainstream Disruption
Ethereum Enterprise Alliance Adds 86 New Members Including DTCC, State Street And Infosys
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Gold and silver.
Gold closed last week at $1279.00 an ounce and closed this week at $1266.40 -0.9%
Silver closed last week at $17.52 an ounce and closed this week at $17.17 -2%
The gold and silver ratio ended the week at 73.76:1
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Tweets of the Week
https://twitter.com/Smaulgld/status/871744879029878785
https://twitter.com/Smaulgld/status/872106534892863488
https://twitter.com/Smaulgld/status/872106028346875904
From last week:
OneGram Launches $500 Million ICO for Sharia-Compliant Gold-Backed Digital Currency
Here are the stories we wrote, followed or commented on.
June 5, 2017
Gold
AMERICAN GOLD BUFFALO SALES CRASH AGAIN IN MAY
LIVING THROUGH AN ECONOMIC COLLAPSE
Russian Contradiction
Russia FinMin to raise FX purchases fivefold in June – contradicts the no plan in boosting reserves or gold!
From: CENTRAL BANK OF RUSSIA TO DEVELOP A NATIONAL CRYPTOCURRENCY
Yesterday first Deputy Governor of the Russian Central Bank Ksenia Yudayeva said that it was not a top priority of the bank to top up its gold and forex reserves.
US Economic Data
Factory Orders -0.2%, Exp. -0.2%, Last 0.5%
ISM Non-Mfg 56.9, Exp. 57.0, Last 57.5
Markit Service PMI 53.6, Exp. 54.0, Last 53.1
Nonfarm Productivity 0.0%, Exp. -0.0%, Last -0.6%
Labor Costs 2.2%, Exp. 2.4%, Last 3.0%
U.S. Mint Sales Update
U.S. Mint reported selling 229,000 American Silver Eagles and 0 American Gold Eagles today.
MTD American Silver Eagles sold 229,000 & American Gold Eagles sold 0
YTD American Silver Eagles sold 11,476,500/American Gold Eagles sold 137,000
The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 500 sold
YTD 64,500 sold
The U.S. Mint sold 2,000 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD Effigy Mounds ATB coins 21,200. The US Mint sold 0 Frederick Douglas National Historical Site ATB coins and 17,200 of the Ozark National Scenic Riverways.
Total YTD ATB coin sales 28,200 Effigy Mounds National Monument coin, 20,000 Frederick Douglas National Historical Site and 17,200 Ozark National Scenic Riverways ATB coins. Total 65,400
June 6, 2017
From Smaulgld.com
KAZAKHSTAN BOOSTS GOLD TO 37% OF RESERVES
Chats by Ex-Deutsche Bank Metals Trader Reveal Spoofing ‘Tricks from the Master’
China’s Gold Imports Seen Jumping 50% as Haven Demand Booms
Gold
US Economic Data
June 7, 2017
From Smaulgld.com
PERTH MINT OUT SELLS U.S. MINT GOLD SALES AGAIN IN MAY
June 8, 2017
From Smaulgld.com
REVERSAL! CHINA BOOSTS US TREASURY HOLDINGS, HALTS GOLD PURCHASES
PERTH MINT SILVER SALES BOUNCE BACK IN MAY
Comey Testimoney
UK Elections- Conservative party loses majority
June 9, 2017
Gold
SHARPS PIXLEY Sees A 252 pct Increase In Physical Gold Demand
Russian, Chinese Gold Reserves to Cut Global Economy’s Addiction to Dollar
Hoard Of Roman Gold Coins Found In Netherlands
US Economic Data
Wholesale Inventories -0.5%, Exp. -0.3%
June 10, 2017
Russia and China to digitize their currencies with Ethereum
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