Bitcoin Price Increases

world banksThe Bitcoin price hit $400 in the Bitstamp exchange chart. Price is currently trading in the $390s and looks set to establish trade above $400 in the coming days. Meanwhile, delving further into yesterday’s special IMF report, a message to the banking sector emerges: Manage Perceptions.

Also read: Banking Elite Meet In Washington to Discuss Bitcoin Threat

IMF: Banks Should Manage Perceptions
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IMF: Banks Should Manage Perceptions

In part three of the IMF’s Global Financial Stability Report entitled Risk Taking By Banks: The Role of Governance and Executive Pay, the IMF implores banks to manage public perception of their excesses:

…conflicts of interest between bank managers, shareholders, and debt holders can lead to excessive bank risk taking from society’s point of view.

The operative clause in the above quote – “society’s point of view” – is the true concern, and the excessive risk taking is not directly addressed in the report. Instead, policies to “limit risk” are suggested, now, five years into the crisis.

That the IMF’s suggested policies have not been in place, as a banking sector standard, since the dawn of the modern financial era is clear.

The current crisis is a banking crisis. It is the doing of the banks and therefore their responsibility. By asking banks to at least create the impression of responsible behavior, here at the mouth of the spinning vortex, the IMF is preparing for the post-crisis fall-out when public commissions and inquiries will demand answers.

The sensible thing for individuals and businesses to do is to move their funds and banking to the Bitcoin blockchain. The sooner, the better. The start of a rally in the Bitcoin price and IMF warnings of a coming liquidity crisis in banking and shadow banking should be reason enough. Bitcoin’s design is based on sound principles of computer science and the blockchain is a disruptive innovation precisely because it represents the solution to the out-dated, ineffective and centralized banking model of finance.

Global Economy

Gold
Gold is not wasting time in getting to its target near $1,340. The wave structure to target should be a three-wave zigzag to complete Gold’s long-term corrective triangle. It is currently trading at $1,234 and looks set to achieve $1,247 or even $1,250 in the next day or two.

Gold bitcoin 14oct2014

S&P500
The S&P500 is tumbling down in the absence of QE. Life-support had kept the patient going for five years but now it looks like the market has wheeled its bed out the fifth-floor window.

S&P500 bitcoin 14oct2014

Selected Economic Data
UK Inflation Rate (CPI) year-on-year
expected: 1.4% (previous: 1.5%)
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Bitcoin Price Analysis

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