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Last week bitcoin plunged over 40% from all time highs hit as recently as three weeks ago on news that China had ordered local exchanges to halt trading in the cryptocurrency. Since then, defying naysayers yet again, bitcoin staged a remarkable comeback, rising from under $3000 to $4000 in the last few days of trading, but China appears to be nowhere near done, and as the WSJ reports this morning, Beijing is moving toward a “broad clampdown on bitcoin trading, testing the resilience of the virtual currency as well as the idea its decentralized nature protects it from government interference” in what the paper dubs the “most draconian measures any government has taken to control bitcoin.“
A day after US ambassador to the United Nations Nikki Haley admitted that with the latest round of sanctions the Security Council has just about reached the limits of China’s and Russia’s tolerance – and that the US will now need to explore other diplomatic, and possibly military, options, US forces joined with their South Korea counterparts for another “show of strength” meant for North Korea.
Both Haley and US Secretary of State Rex Tillerson appeared on the Sunday talk shows to stress – using language that’s ringing increasingly hollow – that the administration wouldn’t hesitate to authorize a military response to the North should diplomacy fail. (What diplomacy?????)
It’s official: China’s sharing economy has reached its peak.
After shared workout pods, stools luxury cars, and, of course, bicycles, Shanghaist reports that a Beijing-based startup now has come up with a “mesmerizingly grotesque” idea: what if people could rent sex dolls through an app and return them after a period of time so that other silicone slammers could take advantage of the very same product?
And no, sadly this is not a joke.
The Chinese app, which is called Ta Qu, or “Touch” in English, was launched in 2015 as a platform for discussing issues about sex and sexuality. Over the past two years, it has pivoted or “(d)evolved” into a sex doll sharing app, which is now being tested in Beijing. The Global Times reports that daily rentals cost 298 yuan, or less than $50, while users of the app can rent dolls for a week for the price of 1,298 yuan, after making an 8,000 yuan deposit.
The dolls then get delivered right to the user’s doorstep.
According to the Chinese outlet, there are currently five models to choose from: “Greek bikini model,” “US Wonder Woman,” “Korean housewife,” “Russian teenager” and “Hong Kong car race cheerleader.” Users can customize the dolls to their liking by picking out hair and eye color, as well as their outfits.
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…which will end soon anyway.
Following Treasury Secretary Mnuchin’s threat that the US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea:
“If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system, and that’s quite meaningful.”
Billionaire investor and commodity guru Jim Rogers has a warning for the Trump administration – this would hurt America more because it just forces China and Russia and other countries to cooperate.
You’d have to laugh – if it were not so grave. The Trump administration says that it is running out of patience for a diplomatic solution to the Korea crisis.
This pseudo piousness comes from a US government that continually refuses to enter into direct negotiations with Kim Jong-un, the leader of the Democratic People’s Republic of Korea (DPRK).
So, how can the US say it is growing weary from diplomatic effort when it hasn’t even bothered to breathe an earnest word of diplomacy – despite being urged to do so by Russia, China, and other world leaders?
Israel and the whole of Palestine will be utterly and totally destroyed during WW3, as planned by the Rothschilds, who are the founders of Israel!
Next up: (Planned) Financial collapse & hyperinflation, then (planned) all-out civil war in the U.S. and Europe, directly followed by (planned) WW3, which will be brought to an abrupt end by the “3 days of Darkness”.
Power shift East, Israeli technological domination, Jewish supremecism and economic collapse.
Economic collapse is coming. It's planned & is very much imminent. High inflation, then hyperinflation, is coming.https://t.co/CoOLBO2I0M
— Alois Irlmaier (@AloisIrlmaier) September 17, 2017
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For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar.
China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange.
These were challenges to the dollar’s dominance, but they weren’t mortal threats.
What’s happening lately, however, is a lot more serious.
It even has an ominous-sounding name: de-dollarization. Here’s an excerpt from a much longer article by “strategic risk consultant” F. William Engdahl:
The revelation that the People’s Bank of China (PBoC) will ban–or at least severely restrict–bitcoin exchanges from operating within the country has captured the focus of the cryptocurrency community over the past week and led to intense volatility within the markets. However, as many people have pointed out on Twitter, China has a long history of censoring even the most bizarre things, so it should not be surprising that the government is cracking down on a technology that threatens its power to control the economy. In that spirit, here are seven ridiculous things China has banned–other than bitcoin exchanges.
A National Party MP who studied at an elite Chinese spy school before moving to New Zealand has attracted the interest of our Security Intelligence Service.
The list MP Jian Yang did not mention in his work or political CVs a decade he spent in the People’s Liberation Army-Air Force Engineering College or the Luoyang language institute run by China’s equivalent of the United States National Security Agency.
H/t reader kevin a.
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Update: Confirming the other speculation, that China would halt all cryptocurrency exchange, Yicai reports that it is not just BTC China:
- CHINA MAY SHUT ALL LOCAL BITCOIN EXCHANGES BY SEPT. END: YICAI
To which the response from the Bitcoin Association of Hong Kong is: “if China restricts growth in bitcoin” it will drive business to us”
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Yuan-denominated Bitcoin has crashed as much as 25% 35% in Chinese trading, plunging from 25,000 yuan to as a low of 16,000 on local exchanges BTCChina (and as low as 20,000 on OKCoin), following confirmation of last week’s Caixin report that Beijing would stop cryptocurrency exchange trading. China’s second largest exchange, BTC China, said that it would halt all trading on the platform beginning September 30, launching a liquidation panic.
By Paul Craig Roberts
Two of America’s most populous states, Texas and Florida, are in hurricane ruins, and Washington is fomenting more wars.
The US national debt is now over $20 trillion, and Washington is fomenting more wars.
The entire world is helping Washington foment wars – including two targeted countries themselves – Russia and China – both of which are helping Washington foment more wars. Believe it or not, both Russia and China voted with Washington on the UN Security Council to impose more and harsher sanctions on North Korea, a country guilty of nothing but a desire to have the means to protect itself from the US and not become yet another Washington victim like Afghanistan, Iraq, Libya, Somalia, Yemen, Syria, Serbia, and Ukraine overthrown in a US coup and now poverty-stricken.
China is joining France and Britain in announcing plans to end sales of gasoline and diesel cars.
China’s industry ministry is developing a timetable to end production and sale of traditional fuel cars and will promote development of electric technology, state media on Sunday cited a Cabinet official as saying.
The reports gave no possible target date, but Beijing is stepping up pressure on automakers to accelerate development of electrics.
China is the biggest auto market by number of vehicles sold, giving any policy changes outsize importance for the global industry.
In an unexpectedly strong diplomatic escalation, one day after China agreed to vote alongside the US (and Russia) during Monday’s United National Security Council vote in passing the watered down North Korea sanctions, the US warned that if China were to violate or fail to comply with the newly imposed sanctions against Kim’s regime, it could cut off Beijing’s access to both the US financial system as well as the “international dollar system.”
Speaking at CNBC’s Delivering Alpha conference on Tuesday, Steven Mnuchin said that China had agreed to “historic” North Korean sanctions during Monday’s United Nations vote. “We worked very closely with the U.N. I’m very pleased with the resolution that was just passed. This is some of the strongest items. We now have more tools in our toolbox, and we will continue to use them and put additional sanctions on North Korea until they stop this behavior.”