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The Government’s Take on Crypto Trading and Currency

A known misconception with regards to blockchain realm is that, it is just purely about technology – nothing more, nothing less. The systems begin and finish with human interactions. In cryptocurrency environment, this phrase is totally understandable but the true challenge is making others mindful about this technology and existence. At the same time, the fact that it is not solely based on cryptography as well as algorithms.

Though there are those who use the best crypto trading bots online to increase digital currency, still part of the process is to educate others about it.

Back in the early days of cryptocurrency, it is noticeable that one critical concern to be addressed is bringing it in front of government regulators.

Unless this does not get government’s attention, blockchain technology will be kept in the dark.

We had to become part of this discussion in order to educate such individuals. After all, they are the ones who have the power in stifling innovation and regulating crypto out of existence.

Data Management, Privacy and Security

There’s no entity that’s more concentrated on how data and security is handled than the government and its branches. The main objective of the government is to assist its people which are the very reason why there are laws. These laws are designed and thought thoroughly to enforce the proper handling, storage and collection of data. But of course, no process and system is perfect.

Government’s Sentiment and Motivation

Before, blockchain technology and cryptocurrency was decentralized. Meaning, there’s no specific regulating body that is handling it. Those were truly the tough times as companies ought to navigate through a minefield where government entities are trying to keep tabs with the regulations and rules that were no near applicable to the industry.

These days, there are of course some difficulties associated in crypto environment. However, since there are regulations being formed, these challenges are more manageable to handle and overtake. So to assure that the regulators can get it right, some of the pioneers are fighting hard to have a seat at the table along with traditional currency.

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New Tariffs Imposed By the US President

Donald Trump, the president of the United States says that his protectionist trade policies boosted economic growth. However, his opposition and critics say otherwise – stating that there’s handful evidence that is supporting this claim.

US President Donald Trump has threatened over the weekend in re-escalating the trade war with China. This is by means of increasing the tariffs on almost all imported products coming from the said country. He has implied as well that this move isn’t going to hurt the US economy and had said that the tariffs that were imposed are partially responsible for greater economic results.

Going Strong?

According to advisers of the US president, it has expanded the argument saying that there has been a 3.2% growth in economy. An increase in the first quarter of this year – this includes a positive contribution from the exports, which serve as proof that the hard-line trade policies of the president are truly helping the US economy to grow. Well this has been felt by many citizens in the state by being able to qualify for Laina and buy the house of their dreams.

Well technically speaking, the secretary is correct:

The net exports have added to growth in first three months as per the preliminary number the Commerce Department had released.

On the other hand, this doesn’t automatically indicate that the tariffs are indeed bolstering the economy. The fact that Donald Trump as well as his team believe otherwise can be a smart and tactical negotiation with China – this can give credence to the notion that they are ready to escalate trade war further in the event that their demands have not been met.

However, claiming to have a strong economy can also undermine Trump’s position and set up the economy and even the financial markets for unpleasant surprise in case that his bluff is called.

The Explanation

To calculate the size of US economy, the GDP is deceivingly simple. It’s combining multiple metrics in economy including:

  • Business Investment
  • Consumer Spending and;
  • Government Spending

At the same time, these factors difference between the value of what’s being imported and exported by the United States.

And for over 4 decades, the difference has mostly negative. This is because America has bought more foreign services and goods than what it sold. Simply speaking, their imports have exceeded exports. Meaning to say, America’s GDP was lower due to the trade.

Politics

U.S. Vice Pres. Pence Sees Mexico Tariff Kicking Off On June 10, 2019, Not Unless…

After meeting with the Mexican envoys to discuss solutions for averting the dreaded 5% – 25% tariffs that the U.S. will impose on goods imported from Mexico, U.S. Vice President Mike Pence said the tariffs are likely to kick off as announced on Monday, June 10, 2019. Not unless the delegation headed by Mexico Foreign Secretary Marcelo Ebrard returns to the negotiation table with an acceptance of Trump’s demand for a “safe third country” agreement and of the “Migrant Protection Protocol.”

However, instead of accepting those conditions laid out to them last Wednesday, the Mexico envoys returned with a promise to deploy around 6,000 of the Mexico’s National Guards to the country’s southern border with Guatemala. The purpose of which is to cut off the flow of Central American migrants whose advancements to the US – Mexico south border has led to even sharper increases during the recent past months.

According to V.P. Pence, Mexico’s non-acceptance of the aforementioned conditions, is for the U.S. president to decide. Pence though, hinted that negotiation talks will continue.

Trump views the Thursday negotiations as having made “a lot of progress”, and is expressing determination to impose the initial 5% Mexico tariff on June 10, 2019 (Monday.) Yet, he is also dropping hints that are not short of dangling possibilities of foregoing the tariffs altogether. That is, if Mexico fully accepts the “safe third country” agreement and the “Migrant Protection Protocol.”

When asked by reporters about those specific demands, Mexico Foreign Secretary Ebrard avoided the question, but commented that the meeting on Friday could be one of the last sessions in the negotiation talks. Other Mexican officials said that they will agree to solutions in curbing the flow of asylum seekers, but only if such solutions are dignified, as well as effective.

What Exactly is the “Safe Third Country” Agreement?

Under a “Safe Third Country” covenant, a country agrees to grant asylum to refugees if that country has jurisdiction on the territory on which the refugees first set foot or landed. If this agreement is accepted by Mexico, the country automatically becomes responsible in granting the refugees asylum, as well as in preventing them from pushing forward should they prefer the U.S. as their place of asylum.

As it is, the government of Mexico is hardly in a position to take in hordes of refugees, in light of the country’s own economic conditions. In fact Mexico President Andres Manuel Lopez Obrador had slashed down the country’s immigration and refugee budget for 2019. According to reports, Mexico’s refugee agency is practically receiving less than $1 million for the year.

Canada, the only country with which the U.S. maintains a “Safe Third Country” agreement is currently seeking to end the pact, as Canadian official no longer regard the U.S. as a safe third country. .