Big gain hunters — don’t miss this!

Thursday, 3 May 2018
Melbourne, Australia
By Bernd Struben

  • Here’s to the independent nation of Taiwan
  • Beware of Greeks bearing gifts
  • Since we started with crypto…

Before diving into today’s Port Phillip Insider, an important reminder.

This Monday, 7 May, Sam Volkering and Kris Sayce are holding ‘The Crypto Fast Fortune Summit’.

You see, Sam has startling evidence that’s convinced him the explosion in crypto currency values we saw in 2017 was only the tip of the virtual iceberg.

In fact, he believes the total value of the crypto market could go up 1,000% over the next year. That would take it from roughly US$450 billion today, to over US$4.5 trillion.

In one year.

It would also see the price of well–established existing coins take off. But even more importantly, if you’re a big gain hunter, it would see new coins launched to meet the exploding demand.

Many of those new coins will falter. Some may even fall to zero.

But others could be the next ether, which rocketed 9,265% in 2017. Or ripple, which shot up a mind boggling 36,018%.

Granted, to have pocketed 36,018% in gains — turning a $1,000 stake into over $360,000 — you would have needed to get in at ripple’s 2017 low and out at the 2017 high. But still…

Sam will explain precisely why he’s convinced the entire crypto market is about to skyrocket again during Monday’s ‘Crypto Summit’.

He’ll also detail his proprietary four-step crypto isolation system. It’s this system that’s enabled him to pinpoint some of the most lucrative cryptos to date with impressive accuracy.

And he’ll share with you three cryptos he believes could see 1,000% gains well before the entire market moves that much higher.

Now in saying that, a nod towards risk.

Investing in cryptocurrencies is risky. Period. While some investors have pocketed 10 or more times their money in a matter of months, others have lost most of their money just as quickly.

Which, of course, is all the more reason to be as well-informed as possible before you invest a single dollar. And that brings us back to the ‘Crypto Summit’.

It takes place on a private website at 2pm, AEST. If you’re not available at that time, you will be able to watch it later, at your own convenience.

There is no cost for any paying subscriber to any of Port Phillip Publishing’s services. If you’re receiving the Port Phillip Insider, that means you.

But you will only be able to tune in if you’ve registered to do so first. You can do that right here.

Now I’m not sure if any Goldman Sachs employees are reading this. (We don’t know our readers like Facebook does!) But if so, you’ll want to be sure to sign up.

The following headline comes from Bloomberg, ‘Goldman to Add Crypto Contracts Without Trading Bitcoins’. The article continues:

Don’t call Goldman Sachs Group Inc.’s long-awaited Bitcoin-trading business a full-fledged desk, and don’t expect it to buy and sell Bitcoins, at least at first.

The bank, preparing to pioneer a new cryptocurrency market on Wall Street, plans to start small and offer a limited number of derivatives, according to a person briefed on the decisions. It will trade Bitcoin futures in a principal, market-making capacity and will also create non-deliverable forward products.’

Do you think Goldman Sachs would be launching a new crypto trading business if they didn’t believe the sector is set for a new round of growth?

Me neither.

Now to the markets…

Markets

Overnight the Dow Jones Industrial Average closed down 174.07 points, or 0.72%.

The S&P 500 fell 19.13 points, or 0.72%.

In Europe, the Euro Stoxx 50 index finished up 17.53 points, or 0.50%. Meanwhile, the FTSE 100 gained 0.30%, and Germany’s DAX rose 190.14 points for 1.51%.

In Asian markets, Japan’s Nikkei 225 is down 35.25 points, or 0.16%. China’s CSI 300 is down 0.12%.

In Australia, the S&P/ASX 200 is up 45.01 points, or 0.74%.

On the commodities markets, West Texas Intermediate crude oil is US$67.70 per barrel. Brent crude is US$73.08 per barrel.

Gold is trading for US$1,307.72 (AU$1,743.39) per troy ounce. Silver is US$16.42 (AU$21.89) per troy ounce.

One bitcoin is worth US$9,208.70.

The Aussie dollar is worth 75.01 US cents.

Here’s to the independent nation of Taiwan

As China’s wealth and power grow, so too does its government’s demands. And when you’re talking about a totalitarian regime like China’s, it’s a perilously slippery slope.

With that in mind, I’d like to congratulate the citizens of the proud and independent nation of Taiwan.

There. I said it.

So long as the majority of the country’s 23.5 million citizens wish to remain an independent nation, they have every right to do so. And to be recognised.

The Chinese government, of course, feels a bit differently.

They stubbornly maintain that Taiwan is a temporarily separated breakaway province. One which will return to the comforting embrace of China’s Communist Party…no matter what.

I apologise to our China based readers, who may now find this publication censored. But my sales department tells me we only have a handful of China based subscribers, at most. So admittedly I’m not putting Port Phillip Publishing’s bottom line at risk here.

It’s a different story for Qantas Airways Limited [ASX:QAN].

Qantas looks set to hit a record pre-tax profit this year. Third quarter revenue was up 7.5%. With news that full year profits could hit $1.6 billion, the share price soared 8.1% in yesterday’s trading.

While the share price is down 0.64% for the day at time of writing, the stock is up 43.81% since 3 May last year. And with both domestic and international travel markets looking healthy, the share price could enjoy another good run in the year ahead.

That is, of course, if it doesn’t lose its right to fly into and out of China. Or Chinese internet access. Which it almost certainly won’t…so long as it embraces the Communist Party’s views of the world.

From The Sydney Morning Herald:

Qantas has been ordered to adopt the Chinese Communist Party’s view of the world and remove any material from its website that refers to Taiwan as an independent country.

The Australian airline faces the prospect of having its website blocked in what will soon be the world’s largest aviation market unless it complies with the demands, which mark an acceleration of a push by China to ensure foreign companies are aligned with its flashpoint “One China” policy…

It is not known if the letter to Qantas contained any threats of what would happen if it does not comply.

However similar letters sent to US carriers American Airlines and United contained warnings that it would refer them to “cyber-security authorities” who could block their websites in China, according to Foreign Policy magazine.’

This ‘believe what we do or take your business elsewhere’ approach to the world is an ominous sign of things to come. And one Australia should be very concerned with.

China is Australia’s largest trading partner. And you’ll hear a lot of noise about the importance of moving closer to China. And not upsetting them. But as China’s power and influence continues to grow, you can expect its political demands to ramp up as well.

At the moment that might mean demanding companies remove any mention of Taiwan as an independent country. But soon it could mean demanding sovereign nations deport Chinese dissidents at the request of the Communist Party. Perhaps like the creators of Peppa Pig. The cartoon is being deleted by Chinese censors as apparently Peppa stokes rebellion.

And if you fail to comply? No soup for you!

The Chinese government — even more so than most governments — is not your friend. That doesn’t mean we shouldn’t do business together. But keep in mind, that business comes with strings attached. Strings that will only become more burdensome with time.

In the meantime, Qantas will most likely bow to the mighty yuan. Not unlike the Dominican Republic…

Beware of Greeks bearing gifts

Only a few days ago Taiwan counted the Dominican Republic as one of only 19 nations that recognise the island as an independent country. Neither the US or Australia have been bold enough to take that step. Though the Holy See has.

But China has been busy wooing Taiwan’s friends away. And the Dominican Republic caved in to China’s ‘soft diplomacy’ this week. This came in the form of a US$3 billion low interest loan to fund much needed infrastructure in the impoverished country.

Cash in hand, the Dominican Republic announced they will no longer recognise Taiwan.

Needless to say, Taiwan’s government is less than pleased. They’d pledged US$35 million of support themselves, but China outspent them. By almost 1,000%.

You can see how a small, poor nation like the Dominican Republic could be swayed by the sight of US$3 billion. But its government should be careful what they wish for.

Just ask Sri Lanka.

Chinese loans to Sri Lanka have begun to pile up. As Bloomberg notes, ‘China’s Belt-and-Road Billions Come With a Cost’:

The country [Sri Lanka] now spends 80 percent of government revenues paying down what Prime Minister Ranil Wickremesinghe has called “unprecedented” debts. Last year, Wickremesinghe — who took office after Rajapaksa lost the presidency — sold the port to a Chinese firm for $1.1 billion to ease the debt burden.’

In the 21st century the saying ‘Beware of Greeks bearing gifts’ may need to be amended.

Since we started with crypto…

We’ll finish with crypto.

Don’t worry. It all ties back in with China.

From CoinDesk:

The historic moment when leaders from South and North Korea met on April 27 and signed an agreement for peace between the two nations has now been permanently recorded on the ethereum blockchain.

According to a report from CoinDesk Korea, Ryu Gi-hyeok, a 27-year-old game developer from South Korea, has coded the Panmunjom Declaration, which includes the line “there will be no more war on the Korean peninsula,” in both Korean and English and stored both versions in two ethereum transactions…

Inspired by activists of the #metoo moment in China, who used the ethereum blockchain to record messages as a way to evade internet censorship, Ryu said he is also planning to launch a website service that will “keep all historic records permanent and immutable” on a blockchain.’

Evading Chinese censors with the ethereum blockchain? Perhaps someone should send a note to Alan Joyce.

Since we’re running short of time — and long on word count — we’ll leave it there for today.

Don’t forget to sign up for Sam and Kris’s ‘Crypto Summit’.

And if you have any thoughts on the future of cryptos, China’s largesse, or Taiwan, we’re always happy to hear from you. Just write to letters@portphillipinsider.com.au.

And finally, you might like this, from The Australian Tribune:

Tony Abbott Slams Big Spending Budget

One of the easiest things to do in politics is promise people more.

More roads, rails, and bridges. More schools, hospitals, and police. More welfare, income subsidies, and pension benefits. And more tax cuts.

Yet it’s all but impossible to keep those promises without diving deeper into debt. Or, at best…

If you’re fed up with sanitised, politically correct dogma cut and pasted from one mainstream source to another then The Australian Tribune is for you.

And it’s absolutely free.

Sign up here to get The Australian Tribune delivered free to your inbox five days per week.

You can visit our website at https://www.theaustraliantribune.com.au/ to read the complete article above now.

Cheers,
Bernd