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SEC Tightens Crackdowns on Crypto Exchanges as Federal Reserve Forces Banks to Adopt FedNow CBDC

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The Securities and Exchange Commission launched another attack on crypto exchanges Coinbase and Binance this week, a move that had been expected. Given the overlap with the timeline of the Federal Reserve forcing banks across the country to implement FedNow as part of the backbone of an ongoing effort to implement a central bank digital currency.

The charges against Binance allege that the exchange “misled” its users about how their deposited funds for staking would be used, including by allegedly funneling customer assets into separate entities owned and controlled by its founder, Changpeng Zhao.

The charges against Coinbase allege that the company is acting as an unregistered broker and exchange. The government alleges that the Coinbase’s flagship prime brokerage, exchange and staking programs violate securities laws, adding that the company “has for years defied the regulatory structures and evaded the disclosure requirements” of U.S. securities law.

The SEC is demanding that the company be “permanently restrained and enjoined” from continuing to do so.

Gary Gensler, a long-time advisor to Sam Bankman-Fried and the FTX Exchange prior to becoming the Chair of the SEC, has made statements in the past that he believes that there should be less cryptocurrency options in the marketplace.

The cases are likely to extend for years and will likely have long-term implications for the future of crypto investing that extend far beyond only these two companies. The agency is targeting the marketplaces where trades are brokered and cleared, which is at the heart of the cryptocurrency industry’s critical infrastructure., an unwelcome development for pro-crypto groups like the Blockchain Association.

However, advocates for crypto claim that Congress is responsible for establishing the laws regarding digital assets, with two proposals currently circulating in Committees to create a federal framework for regulation for crypto assets.

“Contrary to what [SEC Chairman Gary Gensler] says, there is no regulatory clarity for digital assets,” said Kristin Smith in a statement Tuesday. She is the CEO of Blockchain Association, a pro-crypto lobbying group who also pointed to two regulatory proposals the House currently under debate.

The Federal Reserve continues to drive CBDC efforts, while gaslighting the public with denials about their ongoing efforts to implement a central bank digital currency as the use of the dollar continues to dwindle around the world.

While the FedNow service is being pitched as a solution to the high fees charged by private banking networks, the platform will also enable the Federal Reserve to launch an assortment of consumer-to-business, business-to-business or consumer-to-consumer.

Topics around CBDC implementations have organically risen as issues in the current presidential race.

Democrat presidential candidate Robert Kennedy Jr believes that the FedNow service is part of a long-term strategy to outlaw bitcoin and any cryptocurrency that competes with the Federal Reserve.

While the FedNow service is initially restricted to interbank transactions, Kennedy points out that this is “the first step in banning and seizing bitcoin as the Treasury did with gold 90 years ago today in 1933.”

He goes on to explain that digital currency could give the US government power to freeze and seize citizens’ assets or even limit your spending when you fail to “to comply with arbitrary diktats.”

Binance has announced that it will be halting all withdrawals of US dollars as soon as June 13 and transitioning to an all crypto model.

The exchange saw the withdrawal of more than $700 million dollars in customer assets this week, with huge sell-offs occurring for certain tokens that were outlined in the government’s lawsuit.

The government’s war against bitcoin and other cryptocurrencies is reminiscent of the efforts to restrict gold ownership and gold bank withdrawals leading up to the government seizure of all privately owned gold in 1933.

Many of the tactics being used by the government are to sow Fear, Uncertainty and Doubt (FUD) and to keep consumers and everyday Americans confused about cryptocurrencies and scared of risking their financial security to private digital tokens. While at the same time, failing to warn or be transparent with the public about the inherent dangers of a central bank controlled digital form of money.

The government does not like competition. The Federal Reserve sees the use of any non-central bank controlled digital currency as a competitor to the dollar. Compared to crypto, gold and silver are the most trusted and proven long term store of value.

Private ownership of precious metals like silver, gold and platinum has been legal since 1974. There are currently an assortment of States, such as Texas, that are pushing to return to the gold-standard with the introduction of precious metals backed digital tokens that can be exchanged for gold.

The Goldback is an existing physical gold-based private legal currency in several states, with the gold-foil notes being issued for New Hampshire, Utah, Wyoming and Nevada is also among the option available to investors.

If you’re an investor looking to use crypto to buy silver bars, you can find a variety of trusted and reputable online bullion dealers who accept various forms of crypto for payment and have the generic 10 oz silver bars shipped directly to your door.

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Zimbabwe to Launch Gold-Backed Digital Currency

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central bank digital currency

Zimbabwe has had a long history of economic instability. From 2004 until 2009 the country experienced five years of hyperinflation.

During the period of hyperinflation the country had to halt the exchange of local currency to dollars due to a meteoric rise in prices.

In early 2009, the government had abandoned the local currency, instead favoring the US dollar for all official transactions.

By 2014, there were eight legal foreign currencies being used for day-to-day transactions throughout the country.

Almost ten years later, the economy is Zimbabwe is still in shambles. The Zimbabwe dollar was reintroduced in 2019. Periods of high inflation quickly followed.

In an attempt to curb inflation last year, government leaders began to issue gold coins to try to earn the trust of investors with a store of value.

The latest announcement from the African nation says that the central bank will begin to issue a digital token that is backed by gold.

The gold-backed digital is an attempt by the country’s central bank to provide a trusted hedge against the volatility of its local currency.

The country’s central bank reports holding just 350 kg of gold bars among its reserves and estimates that it will need $100 million dollars to support the digital gold token.

Royalties from the mining industry exceed $300 million dollars per year.

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Gold at Home is Insurance Against the Next Bank Failure

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This week, customers of the failed bank woke up to find their money gone after SVB received accolades from mainstream media praising the bank as one of best.

Executives cashed out millions in recent weeks before SVG was taken over by regulators. Customers stood outside in long lines trying to get their money.

The failure began with a bank run withdrawal of $42 billion.

Gold is a proven hedge against inflation and a proven long term store of value. Having gold as part of your overall portfolio offers a defensive strategy strategy when there is a lot of uncertainty about other investments. In some cases, this now includes even holding cash in banks during high inflation period.

Yellen initially expressed “full confidence” in the government’s abilities to respond to the situation. While the White House released a statement affirming that it too is confident that regulators have the situation under control.

The latest moves have all the makings of a major bailout. The Fed’s new “emergency bank funding program” will make an unlimited amount of funds available to cover customer deposits.

Inflation continues to run hot and the Fed is likely to pause continuing rate hikes as trading has been halted by numerous banking stocks as the fallout from the SVB failure continue to spread.

Owning physical precious metals such as gold and silver is considered by financial experts as one of the best ways to safeguard some of your cash.

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Tokenizing Gold Bullion Bars with Blockchain Technology

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cbdc blockchain for tracking gold bars

Public trust in government central banks and global banks continues to erode as the world economy staggers to recover from issues caused by the pandemic response.

Many central banks have begun working on CBDC projects as a means of implementing programmable and controllable currencies even though popular opinion opposes the implementation of the G7, WEF and BIS recommendations, further eroding trust in the bankers who have a long history of corruption.

One way that blockchain ledger technology can help enable public trust in central banks, governments and global banks is by providing a means of transparency into the asset being held on behalf of customers.

The Dubai Multi Commodities Center recently announced a partnership with Comtech Gold to create TradeFlow warrants using Comtech Gold Tokens (CGO) based on customers depositing gold in approved vaults.

Comtech Gold is built on the XDC blockchain network with each contract on the network being represented with one gram of pure physical gold.

The DMCC TradeFlow project is already backed by 122 kilo gold bars.

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A New Global Gold Standard?

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Gold has been an instrumental component of the economy since before the American Revolution.

Our founding fathers had the forethought to include gold and silver coins in the Constitution.

A metallic standard was a central foundation for the economy in the United States based on gold and silver coins.

The US Mint was established on April 6, 1792, prior to the Declaration of Independence.

Recently, legislation has been introduced into the House of Representatives that is intended to move the United States back towards a gold-standard.

The sponsor of the bill, Representative Alex Mooney (R-WV), has stated that the purpose of the Bill is to give greater visibility of the spending by politicians in Washington.

Jerome Powell has said that gold bullion has no purpose in the US economy. The rest of the world is still remembers the Nixon Shock and other major events in the global commodities markets caused by US foreign policy.

Gold has been a core, instrumental component of the global economy, politics and international trade for thousands of years.

With the Moscow World Standard posited to compete with the LBMA, COMEX, Shanghai and other global trading markets.

* gold.org

Many speculate that Moscow is trying to position itself as an economic leader in the global economy. Earlier this year, the Moscow World Standard was announced by the Russian Finance Ministry as an open and fair competitor to the LBMA.

Moscow hopes that many of the BRICS nations and developing nations that are abundant in natural resources have opportunities to trade more fairly in global markets.

Minerals like cobalt, lithium, manganese, nickel and other rare earth minerals that are necessary for the production of batteries for electric cars, houses and other future energy needs. Silver is used in the manufacturing of solar panels and other electrical components.

All of these natural resources are also part of a national initiative to secure resources necessary to build new supply chains for the reemergence of high-tech and semi-conductor manufacturing on American soil.

An emerging Global Gold Standard built on Blockchain Auditing

Outside of the US, private gold ownership continues to grow, particularly amongst Asian markets including China and India.

Russia responded to economic sanctions by starting a program to buy gold from citizens in exchange for rubles and began requiring payment for oil, natural gas and other energy needs in Rubles as a way to stabilize the Russian economy following the invasion of Ukraine.

Bloomberg reports that at least 4 accounts in Rubles have been opened with Gazprom PJSC.

The government of Zimbabwe began to issue gold coins as currency as a way to stabilize their economy following decades of inflation due to corruption.

Many developing nations in Africa, Central and South America and Asia are rich and abundant with natural resources.

Having direct access to global markets for selling commodities such as lithium, cobalt and other minerals is of interest to leaders and businesses of many nations, some of which may be looking to renegotiate contracts with global conglomerates as a way to better leverage their local resources to rebuild their local economies following the pandemic.

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Bitcoin Investors Buy Silver Bars as Fed Develops CBDC Blockchain Competitor

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10 oz silver bullion bars

The Federal Reserve is developing its own digital currency token, or CBDC. Bitcoin investors are worried that the government intends to track all digital transactions and are using their profits to buy 10 oz silver bars with bitcoin.

There are growing concerns that blockchain and new digital currency technology are not mature enough to handle issues around privacy, tracking and reliability. The technology is advancing at such as a rapid pace as the world shifts to a multi-polar gold-backed trading system.

Many experts, both critics and supporters are quick to point out that there are many huge risks that will be coming as widespread integration of the blockchain and related technologies continues this year in the economy.

It seems apparent that many are starting to believe that the current government intends to support the Fed in their push to usher in the FedNow platform. There are many risks to implementing a digital token to compliment the dollar.

In addition to being a globally accepted reserve currency, eleven countries have adopted the US dollar as legal currency either solely, or in conjunction with local currency.

Blockchain implementations also place heavy demands on an electricity grid that has shown in recent years to vulnerable to the weather, cyberattacks and other external threats.

According to a report from the Bank of International Settlements (BIS), the digital currency being developed in secret by the Fed will change the way Americans use money. Even big banks have concerns that the government’s blockchain implementation will strip away rights of millions of Americans.

Americans continue to be anxious, frustrated and angry from the complacency placed on the failing economy.

While it is currently difficult for the government to associate specific bitcoin transactions to individuals, the IRS and other federal agencies have been seizing cryptocurrencies and digital tokens at alarming rates.

Although it’s been suggested that crypto offers anonymity, there are growing reports that the IRS and other federal agencies have been employing special forensic researchers and hackers to find new ways track each purchase you make.

During the 12-month period from October 2020 to September 2021, IRS agents seized from than $3.5 billion worth of bitcoin from Americans in cases unrelated to taxes!

The pending blockchain implementations by the Federal Reserve is likely to bring about significant new regulations will have a major impact across the economy this year.

While the IRS claims that all of these funds were from criminal enterprises. Many legal experts have raised concerns that civil forfeiture laws could be used as a regulatory enforcement tool to continue the unlawfully seizure of crypto in similar ways gold was seized by the government in 1933.

Criminal charges are pending for some that have been accused of money laundering, the IRS is reportedly hiring at its fastest pace in history to allow politicians continue to fleece the American people.

Pending regulations in Congress continue to put many normal people at risk of being investigated by the IRS and other federal agencies.

New data shows that in January 2022 inflation may have been as high as 7.3%. Well above the previously reported number.

Wall Street analyst are mixed on their predictions for the upcoming interest rate hikes.

Based on what we’ve seen in recent months, including the highest rates of inflation in recent history, rising interest rates and uncertainty in the mid-term elections, our economic future is fraught with risks that investors need to act on before it’s too late.

Stock & crypto investors are transferring profits at alarming rates from their into other assets like precious metals. Precious metals is one of the most effective ways of balancing risk in your portfolio.

Crypto token are not proven as stable and reliable investments, nor are they a proven store of wealth.

Major Wall Street Banks share many of the concerns that giving the Federal Reserve real-time access to your purchase data is just part of a slippery slope that will strip away the right to privacy and the individual security of all Americans.

There is a growing amount of evidence that suggests much of the hype pushed by the mainstream media over the last few years has been largely propaganda.

A growing number of Americans believe many of the intention behind many of the misinformation campaigns in recent years has been to line the pockets of the political elite. This is an ongoing concern for millions of people as we approach the mid-term elections.

Many investors are taking their profits as crypto prices continue to drop.

Any pending digital currency implementation is likely to have a major impact on our money and invade privacy at the same time.

One of the most effective and simple ways to store crypto profits is to buy silver bars as a store of value.

Silver, historically is one of the most trusted and reliable stores of value for thousands of years.

Even today’s central and private banks use precious metals as a mechanism for storing wealth.

Many trusted and reputable online bullion dealers have made it easy to buy 10 oz bars with bitcoin as a payment method. Several dealers integrate Bitpay wallet and other wallet to payment gateways and exchanges to provide some assurance that transactions will occur with discretion and privacy.

FindBullionPrices.com compares the prices of silver bars to make it easy and simple for crypto and digital token investors to buy ten ounce silver bars with bitcoin.

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Why do online bullion dealers have different prices for cash or credit cards?

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It can be confusing for first time investors looking to buy silver rounds online. Whether looking for silver bars, silver rounds, or government minted products like American Silver Eagles on Canadian Silver Maple Leafs, the pricing that online bullion dealers show is confusing.

Silver and gold bullion prices are based on “spot price”. Spot price is the price per ounce that the precious metals are trading at on the COMEX commodities exchange.

Online bullion dealers and many local coin stores will base their pricing on spot price. Spot price is the per ounce value of the silver or gold bullion.

Dealers then add a premium on top of the spot price. One way to think of the premium is that it includes the cost of selling, marketing and other operating costs for the dealer plus their profit margin.

Why do online bullion dealers charge different prices for different payment methods?

The cost of accepting different payment methods have differing costs. Generally speaking, payment methods like PayPal and Credit Cards cost merchants and online bullion dealers as much as 4% of the total cost of each transaction.

Cryptocurrency payment methods, which include services like Bitpay, allow dealers to accept Bitcoin, Litecoin, Ethereum and other cryto payment methods also charge merchants on a per transaction basis.

This can be confusing to first time precious metal buyers. Online bullion dealers pass the fees along to the buyer. This is standard practice throughout the industry and you will see these different prices reflected when you browse online bullion dealer websites.

The Cheapest way to Buy Silver Rounds Online

Many beginning precious metals investors look to buy silver rounds online. Silver rounds are popular because of their size, simple denomination, shape and the value they represent.

Generic Silver rounds also can be found with some of the lowest dealer premiums over spot price which makes them attractive to many investors, preppers and silver stackers.

The cheapest way to buy silver rounds from most online bullion dealers is to pay via check or money order. This may seem a bit backwards because most people have become accustom to paying for online purchases with credit cards.

When you buy silver rounds online with a check or money order you must mail the payment to the dealer. This can take up to a week for the dealer to receive the payment. Another week for the payment to clear. Then another week for the dealer to finalize the processing of the order and send out your purchase. It can take upwards of three weeks to month from the time you order until you receive your bullion purchase.

Many dealers have begun offering an e-check payment method which speeds up the process some. Paying for silver rounds with an e-check is basically an ACH transfer between your bank and the bullion dealer’s bank.

Paying with e-check eliminates the mailing time and some of the processing time associated with buying silver rounds with a check.

The Fastest way to Buy Silver Rounds Online

Most people who buy silver rounds online want to receive their purchase as quickly as possible. In order to receive your online bullion purchases quickly it means that you’ll need to pay with a payment method that incurs some additional cost. That means paying for your silver rounds with PayPal or Credit Card.

Paying for silver rounds online with PayPal or Credit Cards clears your payment the fastest. Payments are usually processed by the dealers within 24 hours. That means that your silver rounds are usually shipped by the dealer within a day of receiving your order and payment. Often your order will ship out the same or the next day after you place your order.

Benefits of Using a Credit Card to Buy Silver Rounds Online

While paying with PayPal or credit cards does incur an additional fee it does have several benefits.

Credit card and PayPal payments allow your bullion purchase to ship quickly so you will receive it faster than if you pay by check or money order.

Both credit card and PayPal payments also provide you, the buyer, with some security when you buy silver rounds online. PayPal and most credit cards provide a buyer protection guarantee that gives assurance that even if something happens your purchase is protected. Though, buying from a trusted and reputable dealer will also provide assurance. Reputable online bullion dealers aren’t going to risk their reputation on ripping off customers or bad customer service.

Reducing the Premiums You Pay When You Buy Silver Rounds Online

Another reason to use a credit card to buy silver rounds online is that you can earn cash back rewards, airline miles or other loyalty program points. Many credit card companies offer a card that can provide up to 2% cash back on purchases. This cash back reward helps to offset the credit card premium that you pay when you buy silver rounds online.

It is also possible to offset the premium cost when you buy silver rounds online by leveraging other cash back rewards programs. Programs such as eBay Bucks allow you to earn cash back rewards on eBay purchases that can then be used to buy silver rounds.

The normal cash back reward for eBay Bucks is 1% on the purchase price of items bought from listings in eligible categories. The Bullion category is excluded from earning the cash back reward from eBay Bucks, however, many reputable dealers will create alternate listings in other categories which allow you to earn the rewards when you buy silver rounds.

Several times per year eBay runs promotions where they increase the cash back earning of the eBay Bucks program. The promotional bonuses have historically been as high as 15%. Though it is far more common to see promotions of 8% to 10%. That cash back reward from eBay Bucks can offset your investment or be used in the future for additional silver bullion purchases.

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Buy Silver with Bitcoin

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Bitcoin and other cryptocurrencies have had a wild ride over the past year. Down more than 70% from it’s highs, the future of bitcoin as a viable security and cryptocurrency is still a risky investment. Now is a great time to buy silver with bitcoin profits.

Many online silver and gold bullion dealers have begun accepting bitcoin and other cryptocurrencies as a payment method. Many are using bitpay as the gateway.

The list of dealers that are accepting bitcoin or cryptos as payment continues to grow. We keep an updated list of online bullion dealer payment methods.

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Bitcoin accepted as payment at APMEX

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Bitcoin now accepted at APMEX
Bitcoin now accepted at APMEX

APMEX announced that they now accept bitcoin as a payment method. Te announcement comes just in time for Black Friday and the 2017 Holiday shopping period. Bitcoin can be used for buying silver and gold bullion.

APMEX offers a 4% discount for Bitcoin payments. The discount is the same as check, eCheck or bank wire payments. Bitcoin payments can be made on orders up to $25,000. Orders more than $25,000 will require a different payment method.

How to pay with bitcoin at APMEX

During the checkout process you can now choose to complete your transaction with Bitcoin. You will be shown a Bitcoin invoice from their payment partner BitPay which will include a scannable QR code and a transaction id number.

To complete the payment you can scan the QR code with your mobile Bitcoin wallet or submit payment to the transaction id from a desktop Bitcoin wallet.

Additional information can be found in the APMEX Bitcoin FAQ.

Check out our list to see which other dealers accept Bitcoin as payment for silver and gold bullion.