FinTech Flop – The US is Being Left Behind

OWNx Team Global Finance and Economics, Money & Financial Technology, News & Current Events Leave a Comment

Innovation is key to the ongoing health and prosperity of a nation. Technological innovation is exploding across the world. Few industries benefit more from this phenomenon and are set to contribute more to the long term health of the global economy than FinTech.  Unfortunately, the United States regulatory agencies just don’t get it.

This lack of insight into one of the greatest opportunities in a generation may just leave the United States on the outside looking in as the next great global financial center emerges in the coming years.

While America Slept: Our Lost Billions from Crowdfunding and FinTech Innovation

What role will silver and gold play in a future monetary system built round FinTech? It’s difficult to tell. However, they are universally known as money. They will find their place, which is why you want to own gold and silver now.

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Millennials On Saving For Retirement – How About Gold?

OWNx Team Global Finance and Economics, Money & Financial Technology, News & Current Events, Retirement Planning Leave a Comment

Millennials are probably the most scrutinized generation ever. Why? Because technology today enables vast amounts of personal data collection and this group loves to use technology. Thus, they have given analysts the raw data they need to look into their behaviors individually and as a group.  Despite their love of technology, it seems as though the trend for Millennial savings rates is not good despite technology tools that are available to help them achieve their savings goals.

In a recent article for CNBC, one commentator observed:

“Millennials should look into personal financial management apps such as Digit and Acorns among others, that provide users with real time insight into their spending habits and make it easier to allocate money to their retirement savings with a few taps on their phones.”

We would suggest they also look at the benefits of making gold and silver a part of their long term savings and investment strategy. Instead of Digits and Acorns, why not nuggets? While many younger people do not trust the banking system, they haven’t embraced owning physical gold and silver. It’s possible that one reason is the industry’s underutilization of technology, making access to gold and silver a cumbersome and unattractive process.

OWNx |Automatic| has solved that problem by enabling accumulation of silver and gold bullion as easy as accumulating dollars in a savings account.

Of course, this strategy isn’t just for Millennials. Anyone who understands the benefits of owning gold and silver bullion can use OWNx |Automatic| as a way to diversify their long term savings strategy. However, if you are or know someone between 18 and 34 years of age, they may benefit from knowing what technology can do for them in the precious metals investment space.

Millennials aren’t saving enough for retirement. Here’s how they can fix that.

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The Move Toward A Cashless Society Goes Global

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First India.  Now Australia is considering removing some banknotes from circulation. These are opening salvos toward a move to remove physical currency from circulation. Speculation abounds as to why this is the case. One of the major reasons is taxes.

If every transaction must pass through a network, then it can be calculated where it took place and the amount. The taxing authorities then would be able to automatically deduct them even if the transactions were held at a private location.

Gold and silver have long filled a role as money. In a cashless society, would the price of gold and silver rise or fall? It is too early to tell, however if history has proven anything, it is that people are innovative. If they feel the need to be able to conduct transactions outside of any closed system, they will find a means to do it.

For them, it’s not about avoiding taxes. It’s about the principle of maintaining privacy. It would be wise for our future monetary authorities to insure transaction privacy (blockchain technology anyone?). Gold and silver may then have a role as a means to stabilize a future monetary system.

The Global Move Toward a Cashless Society

 

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New FOMC Taking Shape January 1st

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In with the new and out with the old. Such is the case every year with the Federal Open Market Committee. On January 1, new members will step in and vote on monetary policy that effects you and me as well as the silver and gold price. Who will sit at that table in 2017?

Here is an overview of what is taking shape:

Meet the 2017 FOMC

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Fed Raises Rates For Second Time in a Decade

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Twice.

That is the number of times the Federal Reserve has raised rates in a decade. Ten years. This is not how a normal economy works. It is also evidence that we are far from having escaped the shadow of the financial crisis of 2008.

So what happens over the next decade? That is the subject of a lot of electronic ink being spilled. Rising rates are not friendly to $20 trillion in US government debt. Nor is it friendly to the tens of trillions of debt on the books of other world nations.

But what happens when the market forces rates higher? When the Fed is not in the front seat driving, but rather in the back seat watching?

It’s commonly thought that the price of gold and silver fall with rising rates. That correlation holds early in the cycle. However, if either deflation or inflation begins to rear it’s ugly head the price of gold and silver take on a life of their own.

With the glut of debt around the world, it is not out of the realm of possibility that we see one or the other. Just the possibility will send gold bullion prices higher until this situation is truly and finally resolved, and that may take years.

Fed Raises Rates for First Time This Year

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Gold Coins Dropped in Salvation Army Kettles

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We thought we’d pass on a “feel good” story for those of us who love silver and gold bullion. Seems like Fargo, N.D. is developing a bit of a Christmas tradition. Dropping gold coins into Salvation Army Kettles has been occurring for a decade.  Just last week, three more were found.

Timeless value. That is gold and silver. When expressed as a gift during the Christmas season, it further identifies just how precious the metal is.  Gold. Frankincense. Myrrh.  Although we hope the last two aren’t dropped into the kettles.

3 more gold coins found in Salvation Army red kettles

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Could Silver Replace Gold as India’s Preferred Investment?

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Could it happen? About 100 years ago, silver was the preferred precious metals investment in India. Because of the government crackdown on the underground economy by restricting its paper currency, the question is a good one.

India has long held a quasi-dual currency system. Paper rupees used in daily transactions, with gold bullion being a preferred savings currency. The removal of India’s two largest paper currency denominations have had a major impact on the price of gold in India, reviving the question of silver’s role in the country.

Gold demand in India has risen only 25% over the last decade while silver demand has risen by 600%. This isn’t the first time the Indian government has fought precious metals as a currency in their country. Last time it happened the shoe was on the other foot. Silver was taxed and gold became the preferred savings vehicle.

Turnabout is fair play, and people around the world will always seek for a way to protect their wealth.

Read the full article:

A century later, could silver beat gold to become India’s preferred investment option once again?

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Price of Gold Nearing 10 Month Low After Italy Vote

OWNx Team Global Finance and Economics, Gold & Silver Market, News & Current Events Leave a Comment

Geopolitical uncertainty is supposed to help the price of gold right? Over the long term that is certainly the case. However, short to intermediate term fluctuations have more to do with capital flows and traditional correlations. This is likely the reason why the gold and silver price has performed poorly over the last few months.

Traditional correlations say that when the dollar and interest rates rise, the gold spot price falls. That certainly has been the case recently. The US dollar has soared since Brexit, and gained momentum after the election of Donald Trump. These combined with the vote by Italy to reject constitutional reforms (and thus their current government leadership) and we have a well entrenched trend toward increasing geopolitical uncertainty.

It is likely that Italy will now have a change in government that is much more open to leaving the European Union. The geopolitical and economic implications of this are significant. Once the reality of the magnitude of the changes coming becomes manifest in the market place and financial systems, we will likely see gold and silver prices reverse to the upside for a sustained period. In fact it could likely be the catalyst for a new multi-year bull market in gold and silver.

Gold Heads for 10-Month Low as Investors Look Past Italy Vote

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Large 3,000 year old golden ‘belt’ found in the UK

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A mysterious 3,000-year-old gold torc, described as one of the largest ever discovered, has been found in the UK. A torc is a stiff ring of metal, made in a single piece or from several strands twisted together. The size of this torc (nearly 50 inches in length) has left open speculation as to what it was actually used for.

Discoveries like this remind us of the timeless value of gold. Whether used by Kings as a store of wealth, priests in ceremonies, or ornamentation, gold bullion has been a significant part of cultures for thousands of years.

In cultures such as India, gold is still a widely used metal for jewelry and ornamentation. These items also serve a dual purpose as a long term store of savings and thus Indian consumption of gold drives a substantial portion of overall gold demand. Meanwhile, in the United States, jewelry usage is more limited and gold demand is now primary investment related.

Regardless of its use, gold bullion has been, and always will be something that fascinates all of mankind.  It’s future will be just as exciting as its past.

You can read the full article about this interesting discovery here.

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Govt Debt and Liabilities May Support Gold and Silver Prices

OWNx Team Money & Financial Technology Leave a Comment

When we think of cities that are struggling with debt, we tend to to look at Detroit, Chicago, and some of the larger cities in California. However the problem extends across the nation and into nearly every major metropolitan area, including Dallas, where the economy seems to be relatively strong. This widespread combination of debt and underfunded liabilities represents a significant factor in the looming debt crisis that threatens the financial system. And it could be a major catalyst for rising gold prices in the years to come.

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