Stablecoins Backed By Precious Metals – How Do They Work?

Stablecoins Backed By Precious Metals – How Do They Work?

Authored by Elena Perez via CoinTelegraph.com,

Cryptocurrencies are constantly subject to exchange rate fluctuations and are characterized by high price volatility. For making crypto money more useful and more stable, a special type was created: stablecoins.

image courtesy of CoinTelegraph

Stablecoin is a cryptocurrency whose value is tied to some valuable asset. This asset could be fiat money, precious metals like gold and silver, oil or almost anything that has tangible value. The price of a stable cryptocurrency is formed in direct proportion to the established asset.

An ideal stablecoin should perform three main functions:

  • Act as a means of exchange (buying and selling goods and services directly).

  • Be a saving asset (allowing funds to be saved without loss of value).

  • Be used as a unit of accounting (comparing the cost of goods and services).

Very early stablecoins like Tether were fiat-pegged, but as time went on, developers began to associate their stablecoins to other assets such as gold. Here are some of the most notable stablecoins backed by precious items.

PAX Gold

Paxos Standard Token (PAX) has been actively used by customers of popular crypto exchanges since 2018. It is tied to the United States dollar at 1:1 and stands out among other stablecoins in that it was approved by the New York State Department of Financial Services (NYDFS). The coin uses Ethereum smart contract. 

In March 2019, the startup announced that it was preparing to issue a new digital token, backed by precious metals and stocks. Subsequently, in early September, Paxos announced the launch of a stablecoin, the price of which is secured by gold. PAX Gold (PAXG), it is based on the Ethereum blockchain and meets the ERC-20 standard.

The company claims to have received approval from the NYDFS for the issuance of PAX Gold tokens. Each PAXG token gives users ownership of one ounce of gold held at Brink’s London vault. The token can be redeemed in exchange for a physical gold bar at partner organizations, for example, New York Bullion Exchanges.

Furthermore, users can convert tokens into fiat currency or gold and vice versa. In addition, information on the specific gold bar to which a PAXG is attached is available to token holders. They can see the serial number, brand code, weight and thickness of the ingot.

Paxos charges a fee for transactions within the blockchain, as well as for the creation and redemption of a token. However, no commission is charged for the storage of gold to which PAXG is attached.

Digix Gold

Digix DAO is a project that was developed with the goal of tokenizing real assets, particularly gold. It is based on Ethereum blockchain and provides users with the ability to conduct operations with a virtual version of gold. Two types of cryptocurrencies have been developed for the project: Digix Gold (DGX) and Digix DAO (DGD).

Digix Gold is a stablecoin tied directly to gold. The price of one coin is equivalent to 1 gram of gold. To ensure the exchange rate, gold bullion approved by the London Association of the Precious Metals Market has been placed in the bank account.

Digix was created in 2014 and is registered in Singapore. Its predecessor, Xcp, was unsuccessful. In May 2015, a meeting of Ethereum Foundation members was held in Singapore, to which developers proposed cooperation in promoting Ethereum together with Digix. 

On Jan. 15, 2016, a fully functioning beta platform on Frontier was launched. A crowdsale took place at the end of March 2016 and $5.5 million was collected on the first day. The total issue is 2 million DGD, of which 15% is intended for developers.

The main idea behind ​​Digix DAO is to acquire a real asset (gold), store it (transfer to the blockchain), and evenly distribute the shares among all participants. At the same time, all owners of tokens are also entitled to influence the development of the platform. 

The scheme is simple: developers offer investors various project development algorithms from a professional point of view. Investors need to participate in the vote in order to collectively find the most correct solution and come to a common consensus.

Digix Gold coins are liquid, they can be exchanged at any time for gold or other cryptocurrencies. Coins are available only on the Digix marketplace, where they can be purchased with Ether. Tokens are in the Ethereum EIP20 format, allowing them to be used for Ethereum contracts.

With the growth of prices for precious metals, the value of DGD will also go up, which can greatly strengthen the token’s position in the market. But even if the demand for a coin suddenly disappears completely, investors will still not be selling at a loss, as they can sell their gold at market price.

GoldMint

GoldMint is a blockchain-based platform using Gold digital assets that are 100% backed by physical gold or exchange-traded funds (ETFs).

GoldMint helps traders and investors manage volatility risks and receive competitive commissions for products sold through GoldMint to financial institutions, pawnshops and other business as well as individual stakeholders.

GoldMint depends on two native tokens — Gold and MNT. The first is an investment instrument fully backed by physical gold and/or ETFs. One Gold token is equivalent to one ounce of gold on the Global Authority for Precious Metals (LBMA). 

According to GoldMint CEO Dmitry Pluschevskiy the platform works as so: Users receive a loan from any of the project partners around the world for their gold product, which then gets into the Custody Bot repository. At the same time, the product passes through an automatic diagnostic system built into Custody Bot while information about the weight and sample of the product is recorded in the MINT blockchain network.

Using the received information, the MINT blockchain automatically issues the corresponding amount of Gold tokens. The movement of the Gold token is also fixed in the MINT blockchain. All changes in the MINT blockchain are recorded during mining by master nodes, which can only be launched by the owners of MNT tokens. Master nodes receive commissions from each transaction in the MINT blockchain.

The proceeds from the sale of Gold are invested by GoldMint into gold assets. GoldMint is aiming for tokens to be redeemed on its website to the investor’s personal account, where all Gold crypto assets at the current price of gold can be liquidated either instantly or within a certain period of time and without any additional fees.

Ekon Gold

Swiss blockchain startup Eidoo announced the creation of its stable coin in September 2017, tied to the price of gold. The stablecoin is called Ekon Gold and is an ERC-20-compliant token that will be available in the multi-currency wallet and on the hybrid decentralized exchange of the project. It is only possible to exchange Ekon for one gram of 999 gold in a special store in Switzerland in insured safe deposit boxes and audited by independent auditing company PluriAudit SA once every 90 days.

To purchase the token, it is necessary to download the Eidoo app and, in order to comply with AML regulations, complete the KYC procedure up to Tier 2.

In October 2017, Eidoo raised $27.9 million during the token sale and received a license from the Swiss Financial Services Standards Association (VQF) under the national financial regulator, FINMA.

Tiberius

The Swiss company, Tiberius Group AG, announced the issuing of the Tiberius token in September 2018. The coins are characterized by high stability, since they are backed by a basket of seven precious metals.

The group is preparing to issue a cryptocurrency supported by non-ferrous and precious metals such as copper, aluminum, gold, platinum, tin, nickel and cobalt, according to Bloomberg.

All operations for the sale of Tiberius’ crypto will be made in accordance with Swiss law. The price of the coin will be approximately $0.7. But Tiberius Group AG has delayed the sale of Tiberius coin for now.

Tiberius Group received orders of $1 million through its affiliate Tiberius Technology Ventures AG, but fees from credit card processing companies were unacceptably high, rendering Tiberius Group unable to process orders of $15 million due to “restrictions” on credit cards.

According to CEO Giuseppe Rapallo, the reason for this delay was the desire to achieve diversification, which should make the coin even more attractive and more stable. At the same time, buying a coin will be equivalent to investing in the metals and the technologies associated with them, such as electric vehicles, robots, solar energy, artificial intelligence and others.

Why choose metal-backed stablecoins?

A cryptocurrency-based monetary system seemed at first an unfeasible decision, given the fact that crypto is one of the most volatile asset classes, but stablecoins backed by tangible assets have become a viable option to anyone wanting to invest in precious metals without the headache of storing or transporting them. 

Additionally, gold-backed stablecoins are similar to gold funds and are thus deemed as safe investments, as argued by Digix Gold’s co-founder and COO Shaun Djie:

“The crypto market has generally reacted well to using stablecoins as a mode of payment, store of value and a hedge against the volatility of most cryptocurrencies. It would not be so much of a district in cryptocurrencies but rather, an alternative to having something more stable and well-recognized store of value.”


Tyler Durden

Wed, 10/02/2019 – 18:55

via ZeroHedge News https://ift.tt/2oATpCg Tyler Durden

Ohio Police Fired Blanks During School Shooter Drill, Needlessly Terrifying Students

Police officers outside of Dayton, Ohio, unsheathed their weapons and fired blanks in Franklin High School on Tuesday as part of a misguided effort to prepare students for a possible active shooter.

The planned drill unnecessarily ratcheted up the intensity of school lockdown procedures, which routinely require students and teachers to barricade themselves in their classrooms. That the exercise was potentially traumatizing was not lost on the officials who planned it, as they came equipped with “Social-Emotional Activities,” as well as counselors who could talk with any disturbed teens.

“There was a concern and it did cause some stress” among parents and students, Lt. Gerry Massey tells the Cincinnati Enquirer. Senior Samantha Earnhart, one such terrified student, said that she “became very emotional” and “started to cry” upon hearing the gunfire.

And for what? Regardless of the feverish rhetoric around school shootings, the phenomenon remains exceedingly rare.

Less rare, however, are these increasingly extreme active shooter drills.

In August, police fired off blanks at a high school in Long Island, New York, in response to a pretend shooter who banged on classroom doors while students and teachers hid. Elementary school teachers in Indiana were recently shot execution-style with plastic pellets, causing many of them to bruise, and a Florida “Code Red” exercise last year was marketed to students as the real deal. “This is not a drill,” a school administrator announced over the intercom, sending some students into an emotional frenzy as they texted their parents goodbye.

“I felt more traumatized than trained,” Elizabeth Yanelli, a teacher in Cranberry Township, Pennsylvania, told Education Week after undergoing an active shooter drill at her school. Yanelli says teachers were told to shoot Airsoft guns in the cafeteria to sharpen their skills in case they might need to confront an active shooter one day. Worse still, the teachers were told to practice on each other. “We had colleagues shooting colleagues, we had people getting hit with [plastic] pellets. … People were screaming, trying to run. People were tripping over each other. It was just horrendous.”

Whether or not such exercises actually prepare people for active shooters remains to be seen, says James Alan Fox, the Lipman Family Professor of Criminology, Law, and Public Policy at Northeastern University. But they almost certainly stoke paranoia around an already-fraught issue.

“From 2013 to 2018, 40 students were fatally shot by an assailant in school, averaging 6.7 a year out of 55 million schoolchildren,” Fox tells Reason. That includes the Parkland and Santa Fe shootings, which took 17 and 10 lives, respectively. He contrasts that with the student fatalities that occur while children commute to school—bicycle and bus crashes, for instance—which average about 30 a year.

The overblown approach to shooter drills might actively make schools less safe. Fox notes that some students find the exercises “extremely upsetting, traumatizing, and fear-provoking,” while others still think they’re “not that big of a deal.” But then there’s another group of students, he says, who find it all-too-thrilling, increasing “the likelihood that they’ll perpetuate” something similar. (While the jury is still out on that, some preliminary data is worrying.)

It’s likely impossible to pinpoint a hard number on how many lives, if any, have been saved by active shooter exercises. Thus far, the benefit of these drills does not appear to exceed the cost.

At Franklin High School, for example, teachers had the option to tell students which direction the bullets were coming from and then confer with their students about the best plan of action. A teacher seized with fear in real-time might not have the ability to determine where shots were coming from, or have time to chat with students about evacuation versus a barricade.

Some version of active shooter preparation likely has a place in the school curriculum. Even Fox says he can understand teachers talking to students about proper protocol. But the wild attempts to subject kids to an authentically frightening experience provides no additional benefit and borders on the absurd. During a tornado drill, should school staff employ high-powered fans to shake the windows and drive genuine terror into their pupils? Most would certainly say no, as it would it actively inflict trauma on young kids⁠—just as these shooter drills are now designed to do.

“Schools are safe,” says Fox. “For some kids, it’s the safest place they can be.” Let’s keep it that way.

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US Military Tests ICBM Hours After Beijing Parades Missiles Through Tiananmen Square

US Military Tests ICBM Hours After Beijing Parades Missiles Through Tiananmen Square

Mere hours after the latest missile test by North Korea and Beijing’s parading of its ICBM arsenal through Tiananmen Square during the 70th anniversary celebration of Communist Party rule, the US military decided to carry out a missile test of its own on Wednesday, testing an unarmed Minuteman III ICBM.

The Minuteman was launched from the Vandenberg Air Force Base in California at 1:13 am Pacific Time. The missile, which was equipped with a ‘reentry vehicle’, traveled 6,750 kilometers across the Pacific Ocean before touching down on the Kwajalein Atoll in the Marshall Islands, according to the Air Force Global Strike Command.

A photo of the test shows the missile in a brilliant purple hue.

“The test demonstrates that the United States’ nuclear deterrent is robust, flexible, ready and appropriately tailored to deter 21st century threats and reassure our allies,” the AFGSC said. “Test launches are not a response or reaction to world events or regional tensions.”

Meanwhile, Channel News Asia reports that the US has spent billions of dollars on developing a system for intercepting ballistic missiles fired at US territory, and hopes to step up testing in the coming weeks and months.

North Korea infamously tested one of its submarine-based ballistic missiles shortly after declaring the resumption of talks with the US.

The two sides will have “preliminary contact” on Friday and begin negotiations on Saturday.

Watch video of the launch below:


Tyler Durden

Wed, 10/02/2019 – 18:35

via ZeroHedge News https://ift.tt/2nNtF5F Tyler Durden

“The Press Has Gone Crazy”: Trump Mocks NYT Report That He Wanted ‘Moat Stuffed With Alligators’

“The Press Has Gone Crazy”: Trump Mocks NYT Report That He Wanted ‘Moat Stuffed With Alligators’

One of the more bizarre pieces of propaganda to bubble out of the MSM cauldron of late is a claim by the New York Times that President Trump has “often talked about fortifying a border wall with a water-filled trench, stocked with snakes or alligators, and that he wanted the wall “electrified, with spikes on top that could pierce human flesh.”  

After publicly suggesting that soldiers shoot migrants if they threw rocks, the president backed off when his staff told him that was illegal. But later in a meeting, aides recalled, he suggested that they shoot migrants in the legs to slow them down. That’s not allowed either, they told him. –NYT

Responding to the report, President Trump tweeted on Wednesday: “Now the press is trying to sell the fact that I wanted a Moat stuffed with alligators and snakes, with an electrified fence and sharp spikes on top, at our Southern Border,” adding “I may be tough on Border Security, but not that tough. The press has gone Crazy. Fake News!”

Surely reports like this won’t render any legitimate criticism of the 45th POTUS moot


Tyler Durden

Wed, 10/02/2019 – 18:15

via ZeroHedge News https://ift.tt/2pucAy1 Tyler Durden

Ohio Police Fired Blanks During School Shooter Drill, Needlessly Terrifying Students

Police officers outside of Dayton, Ohio, unsheathed their weapons and fired blanks in Franklin High School on Tuesday as part of a misguided effort to prepare students for a possible active shooter.

The planned drill unnecessarily ratcheted up the intensity of school lockdown procedures, which routinely require students and teachers to barricade themselves in their classrooms. That the exercise was potentially traumatizing was not lost on the officials who planned it, as they came equipped with “Social-Emotional Activities,” as well as counselors who could talk with any disturbed teens.

“There was a concern and it did cause some stress” among parents and students, Lt. Gerry Massey tells the Cincinnati Enquirer. Senior Samantha Earnhart, one such terrified student, said that she “became very emotional” and “started to cry” upon hearing the gunfire.

And for what? Regardless of the feverish rhetoric around school shootings, the phenomenon remains exceedingly rare.

Less rare, however, are these increasingly extreme active shooter drills.

In August, police fired off blanks at a high school in Long Island, New York, in response to a pretend shooter who banged on classroom doors while students and teachers hid. Elementary school teachers in Indiana were recently shot execution-style with plastic pellets, causing many of them to bruise, and a Florida “Code Red” exercise last year was marketed to students as the real deal. “This is not a drill,” a school administrator announced over the intercom, sending some students into an emotional frenzy as they texted their parents goodbye.

“I felt more traumatized than trained,” Elizabeth Yanelli, a teacher in Cranberry Township, Pennsylvania, told Education Week after undergoing an active shooter drill at her school. Yanelli says teachers were told to shoot Airsoft guns in the cafeteria to sharpen their skills in case they might need to confront an active shooter one day. Worse still, the teachers were told to practice on each other. “We had colleagues shooting colleagues, we had people getting hit with [plastic] pellets. … People were screaming, trying to run. People were tripping over each other. It was just horrendous.”

Whether or not such exercises actually prepare people for active shooters remains to be seen, says James Alan Fox, the Lipman Family Professor of Criminology, Law, and Public Policy at Northeastern University. But they almost certainly stoke paranoia around an already-fraught issue.

“From 2013 to 2018, 40 students were fatally shot by an assailant in school, averaging 6.7 a year out of 55 million schoolchildren,” Fox tells Reason. That includes the Parkland and Santa Fe shootings, which took 17 and 10 lives, respectively. He contrasts that with the student fatalities that occur while children commute to school—bicycle and bus crashes, for instance—which average about 30 a year.

The overblown approach to shooter drills might actively make schools less safe. Fox notes that some students find the exercises “extremely upsetting, traumatizing, and fear-provoking,” while others still think they’re “not that big of a deal.” But then there’s another group of students, he says, who find it all-too-thrilling, increasing “the likelihood that they’ll perpetuate” something similar. (While the jury is still out on that, some preliminary data is worrying.)

It’s likely impossible to pinpoint a hard number on how many lives, if any, have been saved by active shooter exercises. Thus far, the benefit of these drills does not appear to exceed the cost.

At Franklin High School, for example, teachers had the option to tell students which direction the bullets were coming from and then confer with their students about the best plan of action. A teacher seized with fear in real-time might not have the ability to determine where shots were coming from, or have time to chat with students about evacuation versus a barricade.

Some version of active shooter preparation likely has a place in the school curriculum. Even Fox says he can understand teachers talking to students about proper protocol. But the wild attempts to subject kids to an authentically frightening experience provides no additional benefit and borders on the absurd. During a tornado drill, should school staff employ high-powered fans to shake the windows and drive genuine terror into their pupils? Most would certainly say no, as it would it actively inflict trauma on young kids⁠—just as these shooter drills are now designed to do.

“Schools are safe,” says Fox. “For some kids, it’s the safest place they can be.” Let’s keep it that way.

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Breakdown

Breakdown

Authored by Sven Henrich via NorthmanTrader.com,

I’ll aim to do a proper technical update this weekend, but wanted to share some thoughts on this market breakdown this week. I’ll focus on the big picture here not on the intra-day action.

Look, markets are a journey, the bigger picture versus the daily noise. If you are familiar with my work I’ve been harping about building risks to markets for months. We’ve outlined the Sell Zone 3000 – 3050 at the end of June which produced an over 200 handle drop into August, I pointed toward the 2019 trend break and highlighted that the September rally may simply have been a back test of the trend. I suggested that for a rally to convince small caps, banks and transports needed to break above resistance. They never did, the bounces were once again sold. I mused about a replay to 2018 (strength in September being a selling opportunity) as so many technical factors were lining up similarly. But I also made clear upside risk persisted but the sell zone once again took hold and I pointed toward a renewed $VIX breakout setting up.

Making a bear case in a bullish environment is never easy, but of course when you have trade optimism and central banks rate cuts galore it is especially hard, but once again technicals cut through the noise. But now we got the breakdown and the $VIX breakout:

With the weaklings completely breaking down again, but staying still inside their ranges:

  

Key facts:

  • All new highs have been sold forming a very clean resistance trend.

  • The 2019 uptrend was broken in August.

  • In September the break was backtested and failed to recapture the trend.

  • Worse: $SPX made a lower high versus July while volatility has formed another potential bullish pattern that could target the 25-28 area.

  • Such a spike may set up for a buyable market dip for a year end rally.

  • But no new lows have been made yet either and so markets remain in tradable ranges.

  • But note this market continues to fail to make to make sustained new highs, lacks participation and remains at risk of a sizable reversion.

  • Without a substantive trade deal result that will bring about lasting confidence and will inspire companies to expand capex and business investment recession risk is rising rapidly.

  • Get such a trade deal then markets can look toward a substantive rally into Q4. But a potential interim deal may not be enough beyond a temporary sugar high rally.

  • The global slowdown is real and risk continues to rise.

Here’s my general view on all this now:

Markets need to see earnest progress during the October 10 trade negotiations or are at risk that the deteriorating macro data will spill over into the consumer.

Markets have ignored weakening data all year and have lived on multiple expansion only driven by the central bank put and continued trade optimism.

But now we’ve seen macro data matter as worsening manufacturing data seems to show a building manufacturing recession globally and markets have finally shown sensitivity to the macro data.

I highlighted some of this in my interview today on CNBC:

This breakdown is happening despite 2 rate cuts by the Fed and dozens of rate cuts by central banks across the globe.
As a matter of fact each time the Fed has cut rates this year markets have sold off, which brings us to the question of efficacy. As of now there is precious little evidence that central bank easing is producing a growth spurt.

Now Q3 earnings will show negative EPS growth making real progress on the trade front absolutely essential, because without it confidence will be further shaken.

Companies are facing deteriorating profit margins and employment growth has been slowing and it appears only a matter of time before margin compression will spill into the labor market as companies hold back in hiring or, worse, will begin to commence reduction in work forces.

Hence key to watch for Q4 are:

  • Trade progress

  • Earnings reports

  • Consumer confidence

  • Labor market

For now we’re in the middle of an apparent repeat of 2018, a rally into September OPEX, early October sell-off, that script was advertised in Replay in early September.There is risk of a double top with far reaching consequences as the big megaphone structure remains in play and has not been invalidated:

But the broken trend backtest has clearly failed.

Bottomline: Markets, despite all the noise, respect technicals as the action has unfolded per the technical view we presented. Now markets are getting short term very oversold and bounces will of course be part of the make up. A substantive trade deal next week may be a must for these markets to make sustained new highs to avert last year’s script and while an interim deal or easing of tariffs may produce sizable relief rallies, the alternative, no deal, no progress, may be too much for this market to bear, especially as it has run on hopium as opposed to substance. Central bank rate cuts have so far resulted in selloffs and given continuing declining data trends central bank efficacy must be questioned. Indeed, let me highlight this: The fact we’ve made a lower high on a second rate cut by the Fed should make everyone ponder. More this weekend…

*  *  *

For the latest public analysis please visit NorthmanTrader. To subscribe to our market products please visit Services.


Tyler Durden

Wed, 10/02/2019 – 17:55

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The FBI Is Running Facebook Ads To Target And Recruit Russian Spies In Washington D.C.

The FBI Is Running Facebook Ads To Target And Recruit Russian Spies In Washington D.C.

In a comically ironic move, after all the meddling miasma of the last few years, The FBI is now running Facebook ads to try and target Russian spies and those who know about their work in the Washington D.C. area, according to CNN.

One such advertisement features a photo of a young woman at her graduation with her family. The Russian text over the photo reads: “For your future, for the future of your family.”

A second advertisement shows a picture of a chess set and says in Russian: “Isn’t it time for you to make your move?”

A third advertisement says “Time to draw bridges” in Russian with a photo of a man walking over a bridge. 

The ads then link to a page in the FBI’s Washington DC field office that has details in both English and Russian about the FBI’s counterintelligence team, asking people to “visit us in person”. 

The FBI was running these three ads when they were discovered by CNN earlier this week – but they have reportedly been running for the length of the summer. 

The FBI didn’t confirm any details about the campaign but the ads are viewable through tools that track active advertising campaigns on Facebook. 

Alan E. Kohler Jr., special agent in charge of the Washington field office’s counterintelligence division said: “We cannot comment except to note that Russia has a large number of intelligence officers based in Russian diplomatic facilities around the world. They are very active and pose a security risk to the US and our allies.”

He continued: 

“The FBI uses a variety of means to gather information, including the use of sources. The FBI will use all legal means available to locate individuals with information that can help protect the United States from threats to our national security. Russia has long been a counterintelligence threat to the US and the FBI will continue to adapt our investigative and outreach techniques to counter the threat.”

Bob Baer, a former CIA agent said the ads were a good idea: “The thing with Russian spies is 99 percent of them are walk-ins, and these people make the decision on their own completely. Putting it out there and getting in this milieu and seeding the idea of volunteering for the FBI is a good idea.”

Counterintelligence at the FBI is tasked with “the detection, identification, and neutralization of hostile foreign intelligence activities,” according the FBI website, which also states “The FBI obtains the best intelligence to combat this threat through information provided by the public. If you have information that can help the FBI fulfill this mission, visit us in person.” 

How long before Zuckerberg bans The FBI for ‘meddling’?


Tyler Durden

Wed, 10/02/2019 – 17:35

via ZeroHedge News https://ift.tt/2nWfmLZ Tyler Durden

Another Narrative Collapse: Eating Meat Is Not Ritualistic Suicide

Another Narrative Collapse: Eating Meat Is Not Ritualistic Suicide

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

I’ve been on some form of low-carb diet since the 1990’s. If not for a few years of intense martial arts training and that dietary switch, I would have been likely ended up with type-II diabetes.

And well on my way to the grave.

I know, some of you are thinking, “More’s the pity.” Fair enough.

But, the truth is that once my wife and I started down that path and our health rapidly improved there was no going back. I clearly remember an early article in, of all places, the Gainesville Sun talking about how butter may not be bad for you.

That planted a seed and things went from there.

We started with Dr. Atkins. Then we moved on to books like Neanderthin and devoured, all puns intended, the work of the Drs. Mary and Michael Eades of Protein Power fame.

I went from 250 lbs. with high blood pressure. triglycerides and the kind of temper that cost me jobs (no lie) to dropping below 200 lbs for the first time since high school and more patience for the world.

My belly shrank. I could fit into 36 inch waist jeans.

My friends noticed it. My wife noticed it. My co-workers and my boss thanked me.

Being on that diet allowed me to handle the heat and stress at 35 of building my house in the North Florida summer; working sun up to sun down three days a week for seven-months straight.

I held my full-time job as a Senior Chemist at the same time, working four ten-hour days.

So yes, I had the endurance, focus, strength and fitness to work as a professional researcher and laboratory manager four days a week and an amateur framer, roofer, plumber, general contractor and ditch-digger the other three.

From March to October… in Florida. No days off. No bullshit.

The self-education continues today to refine what works and what doesn’t for us; what foods we’re allergic to and how can we support our organs and gut health as we enter our fifties.

Have I ‘fallen off the wagon’? Of course. At times really badly. I haven’t told you how much I loved my goat milk/duck yolk custard ice cream I used to make when I had a small dairy on the side. I sincerely love ice cream.

That’s the pernicious thing about sugar, like any other powerful drug, you always think you have control over it.

But you don’t. It controls you.

And as humans we really have no defense against the combination of fat and sugar. That’s why there is always room for desert.

And its control is far worse than cigarettes or coffee. I’ve quit both, it’s true. The former permanently the latter only when fasting (because I’m no ascetic).

Then you look in the mirror one day and you’re disgusted with what you see. And the only thing worse than that is knowing that you knew better and did it anyway.

Giving in to the Imp of the Perverse undermines your spirit far worse than any other mistake you can make.

And when I was forced by circumstance in 2017 to chain myself to my keyboard and ‘write or die’ to build a new career path, I didn’t treat myself as well as I should have.

And so, while I was in better health than I could have been I wasn’t happy about it either. Because I knew I should be better than that.

And it had gotten to the point of interfering with my ability to write at a level that I expected of myself, no less y’all.

That’s why three weeks ago I followed my wife onto a near all-meat diet. No exceptions, no “I can have a small fries with my hamburger,” or this one candy bar. Just meat, salt, the occasional egg and a little garlic with 20 to 24 hour fasts in between.

The dietary equivalent of cold turkey of everything bad.

And guess what? I’ve already lost significant girth, I sleep better, my concentration has improved, my joints don’t ache and I’m just plain happier.

Recently I had a physical ordered by my life insurance company. This was before I made the switch. And even then, as unhappy with myself as I was, my blood work was fine: a testament to eating mostly low carb, whole foods and staying away from God forsaken vegetables.

It wasn’t that hard for me. My body knows how to cycle in and out of ketosis now. The first couple of days are the toughest, thinking about food constantly. But once you get in the groove it’s not an issue.

Once you put your mind to it, as the saying goes, the rest is just doing it.

It wasn’t as hard as quitting sugar the first time. That was hard. Three weeks of that empty feeling in your stomach, the brain fog, the feeling of just being ‘off.’ It’s like those old V-8 commercials from the 80’s.

But here’s the thing. I was likely pre-diabetic at the time. My body had zero idea how to burn fat and so it resisted doing so for weeks. Once through that, however, I didn’t need a glass of pulverized compost material to keep me upright.

Low carb isn’t anything new now. We helped plow that field twenty years ago. And that’s a great thing.

But there is still this horrific stigma against meat that has zero basis in dietary reality. It is a holdover of Ancel Keyes’ moronic and virulent Lipid Hypothesis which demonized saturated fats.

But Keyes, like Michael Mann and his hockey stick chart of global temperatures, cherry picked his data to prove his point. And because what he said was in accordance with what the political establishment wanted to push on us, meat was vilified and vegetable oils (which have never been a big part of human nutrition) were elevated.

To the detriment of us all.

Trillions of dollars in misallocated capital to a theory that made us all fat, sick, stupid and perpetually pissed off.

Trillions to a health care industry designed to treat these new problems caused mostly from people eating like they are pigs being fattened for slaughter.

And the irony is, of course, that now we raise lean hogs as opposed to lard hogs. So even our pork is fed a better diet than we feed ourselves.

So much of our political debate about rising health care costs come down to treating lifestyle diseases brought on by insipid and venal government propaganda and the ideological zealotry of vegans.

Health care wouldn’t be the Byzantine nightmare and wholly unethical quicksand of graft, corruption and corporate profiteering if it wasn’t for Ancel Keyes and his disciples.

And the Democrats wouldn’t be pushing for Health Care to be a right as defined by everyone else has to pay for my shitty choices about what foods I push down my gullet.

Worse, today, after the mainstreaming of low-carb, we are still dealing with the remnants of Keyes and the vilification of meat-eating. Because they know that once a critical mass of us get trim, healthy and independent-minded, their amateurish narrative control techniques don’t work on us.

This is why we laugh at “Soy Boys” with “Bitch tits.”

They’ve given ground gradually and grudgingly. First it was butter was better than margarine, after telling us that trans-fats were better than saturated fats.

Then it was eggs are okay, even though a lot more people are allergic to egg whites than you would think.

But they won’t bring themselves to admit that saturated fats are the healthy fats. They are the ones that your body uses to build cell walls resistant to oxidative stress. They are the ones that are made of the ‘good cholesterol’ and not the nasty stuff the body produces when you starve it.

But, even then, grudgingly as the data started coming back, to hold the line they keep telling us, if you have to eat them, avacado, coconut and fish are okay.

Just stay away from the red meat!

Because the demonization of red meat cuts to the heart of the political con job that is modern cultural Marxism and its supposed moral high ground.

You can see this in the response to the landmark study just completed that concluded there is no perceivable risk from eating red meat as opposed to anything else. It immediately provoked apoplexy akin to doctors prescribing hemlock to treat eczema.

“Based on the research, we cannot say with any certainty that eating red or processed meat causes cancer, diabetes or heart disease,” said Bradley Johnston, an associate professor at Dalhousie University in Canada who co-led the review published on Monday in the Annals of Internal Medicine journal.

However, in what amounts to a scientific food fight, experts from Harvard, Yale, Stanford and elsewhere, including one of the review authors, said guidelines that could lead people to eat more red and processed meats were irresponsible.

They asked in a letter to the journal that it “pre-emptively retract publication” of the papers pending further review.

I can’t wait until the study comes out comparing those on a carnivore diet to vegan one. That’s the study no one in power wants to see the results of.

We’re at the overwhelming evidence stage of the benefits of not eating like our dinner eats and these guys are trying to hold back the dam and force the truth under the rug.

Because they can’t give up the dream, man.

Veganism and ethical vegetarianism are inextricably bound up with the push towards modern forms of social control. They are religions based on the mistaken, inherently Marxist, belief that humanity is a virus that needs to be contained.

Vegetarians claim a moral high ground they can’t support as an extension of an ideology built on the guilt of being alive, of denying their basic humanity as predators.

It is another false narrative designed to rob you of your reason physically as well as psychologically, since diet affects both in a vicious feedback loop of auto-immune disorders which are entirely avoidable, just like the donuts in the break room.

And the idea that you can just go to the gym and burn that donut off is simply ignorant of how the body actually functions. Calories in do not just equal calories out.

The body doesn’t treat a teaspoon of sugar the same way it treats an ounce of bacon grease. If you think that. Then you aren’t just ignorant, at this point, you are being willfully obtuse.

We don’t have a bathtub metabolism anymore than we have Keynes’ idea of a bathtub economy. Reducing our food intake to the same gross generalization that we do the economy via GDP is not only stupid but antithetical to truth.

The idea that calories are just calories is, literally meaningless. It strips out all meaning as to how specific molecules are utilized by the body and for what purpose. Just like reducing the economy to gross spending also strips out the meaning about what we spent the money on and how it was utilized.

If we spend all our money on hookers and blow do you think that’s any more sustainable than living on pasta, pizza and paninis?

But like all gatekeepers they will fail to hold containment on the truth because, as I keep saying, lies are expensive, the truth sells itself.

Don’t you ever wonder why they have to sell us on tofu but bacon sells itself?

I don’t.

*  *  *

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Tyler Durden

Wed, 10/02/2019 – 17:15

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Solomon Hits Back With Receipts After MSM Denies DNC-Ukraine Collusion Attempt In 2016

Solomon Hits Back With Receipts After MSM Denies DNC-Ukraine Collusion Attempt In 2016

While Democrats scramble to accuse President Trump of attempting to interfere with the 2020 US election by asking Ukraine to investigate former Vice President Joe Biden and his son Hunter, the MSM has been hard at work trying to discredit proof that a DNC contractor begged Ukraine for ‘dirt’ on the Trump campaign in 2016. 

You know, election meddling

As detailed in a 2017 Politico report that MSNBC‘s Katy Tur called Russian propaganda last week, DNC contractor and former Bill Clinton White House employee Alexandra Chalupa approached the Ukrainian embassy to solicit ‘dirt’ on the Trump campaign, and convince then-president Petro Poroshenko to help.

Now watch MSNBC‘s Katy Tur called this “Russian propaganda.” 

As reported by The Hill‘s John Solomon in May, “In its most detailed account yet, the Ukrainian Embassy in Washington says a Democratic National Committee (DNC) insider during the 2016 election solicited dirt on Donald Trump’s campaign chairman and even tried to enlist the country’s president to help.”

In written answers to questions, Ambassador Valeriy Chaly’s office says DNC contractor Alexandra Chalupa sought information from the Ukrainian government on Paul Manafort’s dealings inside the country in hopes of forcing the issue before Congress.

Chalupa later tried to arrange for Ukrainian President Petro Poroshenko to comment on Manafort’s Russian ties on a U.S. visit during the 2016 campaign, the ambassador said.

Chaly says that, at the time of the contacts in 2016, the embassy knew Chalupa primarily as a Ukrainian American activist and learned only later of her ties to the DNC. He says the embassy considered her requests an inappropriate solicitation of interference in the U.S. election. –The Hill

Appearing on Fox News‘ “Hannity” on Tuesday, Solomon pushes back:

Let’s start with something that’s important about this. There is a media narrative that is false. How do we know it’s false? Because the documents I possess show it’s false. So let’s start with one of my favorites – this was Katy Tur on Friday night and many others across the weekend said “there is no evidence that the Ukraine Embassy was ever asked for help – to help the Democratic National Committee. In fact, Katy Tur called it Russian propaganda.”

“I have a statement from the Ukrainian Embassy in Washington. On the record, from their sitting Ambassador in Washington, that in fact Alexandra Chalupa – the DNC contractor, came to the Ukraine embassy in spring 2016 and asked for help in finding dirt on Donald Trump in the hopes of staging a Congressional hearing to hurt Donald Trump in the fall election of 2016. That is the Ukraine Embassy’s on the record statement.”

In addition, they state that Ms. Chalupa also asked for the Ukraine President to visit the United States and spend time with an investigative reporter trying to turn up dirt on Donald Trump and Paul Manafort. What did the Embassy do? They say they recognized this request for what it was; an improper request to influence the election, and they refused to cooperate with Ms. Chalupa.”

Watch: 


Tyler Durden

Wed, 10/02/2019 – 16:55

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Naloxone Can Prevent Opioid Overdose Deaths. Why Isn’t the FDA Allowing Over-the-Counter Sales?

America’s opioid crisis is really a fentanyl crisis, and the fentanyl crisis is really a prohibition crisis. So why aren’t we doing more to prevent fentanyl deaths?

As demand for black market opioids has increased in response to the reduced availability of prescription opioids, there’s been a corresponding spike in the use of illicit fentanyl, which is 50 times more potent than heroin and widely available on the street. A powerful drug being marketed as a less powerful drug has produced a corresponding increase in overdose deaths—48,000 Americans overdosed on opioids in 2017, according to the U.S. Centers for Disease Control and Prevention (CDC), with synthetic opioids like fentanyl responsible for 29,000 (and likely more) of those fatalities. While the overall number of overdose deaths has doubled since 2013, the number of deaths resulting from the use of synthetic opioids has increased ninefold.

Federal drug prohibition played a big role in creating this mess. Unfortunately, the federal government is also playing a role in limiting the availability of naloxone, a drug that blocks opioid receptors and can reverse an otherwise fatal overdose.

“Everyone agrees—no matter where they stand on the drug war—everyone agrees this is a lifesaver,” says Jeffrey Singer, a medical doctor and senior fellow at the Cato Institute.

Singer, who has written previously for Reason and has co-authored a paper with Reason‘s Jacob Sullum, co-hosted an event on Wednesday for congressional staffers in the hopes of jump-starting an apparently stalled effort to get naloxone to be approved for over-the-counter sales (something that many other countries already allow). If the FDA changes the designation for naloxone, it could be sold in more than 750,000 retail stores across the country, or even out of vending machines. That would mean better, easier access to a life-saving drug for the people who are most likely to need it: those using heroin or illicit fentanyl in public spaces without access to a pharmacy.

For now, Naloxone is available in most states by going to a pharmacy and asking for it, no doctor’s prescription needed. The drug is easy-to-use and can be safely administered without training—either in the form of a nasal spray (sold under the brand name Narcan) or an intramuscular auto-injector (Evzio). The drug was first approved by the FDA all the way back in 1971.

“There are a lot of people, because of the stigma attached to opioid use in general, who are hesitant to go up to the counter,” says Singer. “Just being able to take it off the shelf with a box of Band-Aids and take it up to the counter—or, better yet, to pay a robot in the form of a vending machine.”

There are some who worry that such widespread access to naloxone could create a moral hazard. That is, if it becomes easier to avoid a deadly consequence, more people might be willing to engage in dangerous behavior, like doing heroin, in the first place. That was the stated reason why, for example, Maine’s Gov. Paul LePage (R) vetoed a bill allowing pharmacists to dispense naloxone (the state legislature overrode his veto).

Studies into whether those fears are grounded in reality have been mixed. While some have found an increase in opioid-related emergency room visits after access to naloxone was expanded in some states, others have found a reduction in opioid-related deaths. A study published in the journal Addictive Behavior found that opioid use generally declined among individuals who used or have been trained to use naloxone—suggesting that close brushes with death discourage drug use.

So why isn’t naloxone available over-the-counter? The FDA isn’t entirely at fault. The agency has actually been asking drug companies to petition them for a reclassification of the drug. But under FDA rules, the agency doesn’t necessarily have to wait until the drug companies ask for that change. Technically, any “interested person” can request a review, or the FDA commissioner can institute one preemptively.

The FDA has worked to raise awareness about naloxone. In 2018, Surgeon General Jerome Adams issued a statement encouraging more people to carry naloxone. Later that same year, the Department of Health and Human Services outlined guidance for health care providers and patients detailing how naloxone can help save lives. The FDA has even taken the unusual step of pre-approving an official “drug facts label”—something required for all over-the-counter medications—that can be slapped on packages of Narcan once naloxone is reclassified. Those are all encouraging signs, even against the backdrop of President Donald Trump’s threats to double-down on failed “get tough” prohibition policies.

If the drug companies won’t pick up the pace and get naloxone approved for over-the-counter sales—perhaps because they are worried that it would cause the drug’s price to fall, something that often happens when drugs are made available over-the-counter—then acting FDA Commissioner Norman Sharpless should do it unilaterally. The agency does not exist to protect drug companies’ profits; it exists to evaluate the risks of allowing wider access to certain drugs. In this case, opioid overdoses are an exponentially greater threat to Americans than the misuse of naloxone.

“The fact that you have to, in this country, go up to a pharmacy counter to get naloxone,” Singer tells Reason, “is standing in the way of getting access to the people who need it.”

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