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October 9, 2024

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North Korea’s army said it will take the “substantial military step” of completely cutting off its territory from South Korea on Wednesday, after months of fortifying its heavily armed border.

The announcement, which comes after North Korean leader Kim Jong Un scrapped a longstanding policy of seeking peaceful reunification with South Korea earlier this year, declared that remaining roads and railways connected to the South would be completely cut, blocking access along the border.

“The acute military situation prevailing on the Korean peninsula requires the armed forces of the DPRK to take a more resolute and stronger measure in order to more creditably defend the national security,” the General Staff of the Korean People’s Army (KPA) said, according to a notice on state-run news agency KCNA that referred to North Korea by the initials of its official name, the Democratic People’s Republic of Korea.

Since January, Pyongyang has fortified its border defenses, laying land mines, building anti-tank traps and removing railway infrastructure, according to the South Korean military.

Kim has also ramped up his fiery rhetoric against the South, referring to it as the North’s “primary foe and invariable principal enemy,” a description echoed in the latest KPA notice.

The General Staff said the measures were a response to recent “war exercises” held in South Korea and visits by what it claims are US strategic nuclear assets in the region. Over the past year, a US aircraft carrier, amphibious assault ships, long-range bombers and submarines have visited South Korea, drawing angry rebukes from Pyongyang.

In a response Wednesday, South Korea’s Joint Chiefs of Staff said North Korea’s announcement was “a desperate measure stemming from the insecurity of the failed Kim Jong Un regime” and would “only lead to [its] harsher isolation.”

Hong Min, a senior research fellow at the Korea Institute for National Unification in Seoul, said North Korea’s latest move formalizes work already being done along its militarized border and suggests Pyongyang may aim to constitutionalize it in the future.

Simmering tensions

Inter-Korean hostilities have simmered this year as North Korea appears to have intensified its nuclear production efforts and strengthened ties with Russia, deepening widespread concern in the West over the isolated nation’s direction.

Last week, Kim threatened to use nuclear weapons to destroy South Korea if attacked, after South Korea’s president warned that if the North used nuclear weapons it would “face the end of its regime.”

Kim’s comments appeared to come in direct response to South Korean President Yoon Suk Yeol, who showcased Seoul’s most powerful ballistic missile and other weapons designed to deter North Korean threats during a parade for Armed Forces Day on October 1.

Leif-Eric Easley, a professor at Ewha Womans University in Seoul, said the Korean army’s announcement could be Pyongyang’s attempt to “shift blame for its economic failures and legitimize its costly buildup of missiles and nuclear weapons” by exaggerating external threats.

“Kim Jong Un wants domestic and international audiences to believe he is acting out of military strength, but he may actually be motivated by political weakness,” Easley said. “North Korea’s threats, both real and rhetorical, reflect the regime survival strategy of a hereditary dictatorship.”

North and South Korea have been separated since the Korean War ended in 1953 with an armistice agreement. The two sides are still technically at war, but both governments had long sought the goal of one day reunifying.

In January, Kim said North Korea would no longer seek reconciliation and reunification with South Korea, calling inter-Korean relations “a relationship between two hostile countries and two belligerents at war,” KCNA reported at the time.

In its statement, the North Korean army said it notified US forces on Wednesday morning to “prevent any misjudgment and accidental conflict” over its “fortification project.”

This post appeared first on cnn.com

Mourners wept and monks prayed at a cremation ceremony Tuesday in a small town in central Thailand for 23 young students and teachers who died in last week’s bus fire on a school field trip.

A large cremation site was set up close to the temple in Lan Sak town whose compound hosts the school that was attended by the victims. Several furnaces with tall chimneys were erected, with floral adornments placed in front of them.

Six teachers and 39 elementary and junior high school students were on the bus when it caught fire on October 1 on a highway in Pathum Thani, a northern suburb of Bangkok. It spread so quickly that only 22 people were able to escape.

After forensic work in Bangkok made positive identifications of the badly burnt bodies, the victims’ remains were were returned to their hometown for funeral rites that began last week.

The tragedy sparked national outrage over insufficient safety procedures and pushed the authorities to take immediate legal action. Police arrested the driver of the bus for alleged reckless driving and announced they were charging the woman in whose name the bus was registered with negligence causing death.

Transport officials were being scrutinized after information emerged that the bus had passed an inspection about four months before the fire. In the wake of the accident, investigators found that the bus was fitted with 11 natural gas canisters although it had a permit for only six.

Officials have said that the bus, which was more than 50 years old, had been modified to run on CNG — compressed natural gas — which is often used especially by commercial vehicles to save money. Police believe that a gas tube from one of the canisters had come loose, with sparks then setting the leaking gas on fire.

The more than 13,000 buses running on CNG were ordered to be inspected within 60 days, while the Education Ministry suspended school study trips in the meantime.

Tuesday’s cremation in Uthai Thani province was held under the sponsorship of King Maha Vajiralongkorn, who sent the head of his Privy Council, former army chief and prime minister Surayud Chulanont, to represent him.

This post appeared first on cnn.com

Australian Prime Minister Anthony Albanese has apologized after using an ableist slur to taunt political opponents in parliament.

Albanese was speaking during question time on Tuesday when opposition lawmakers repeatedly interrupted him.

“Have you got Tourette’s or something? You know, you just sit there, babble, babble, babble,” he said, before immediately adding: “I withdraw and apologize.”

Albanese later returned to the chamber to make a more formal apology.

“I made comments that were unkind and hurtful. I knew it was wrong as soon as I made the comment,” he said.

“I apologized and I withdrew as soon as I said it, but it shouldn’t have happened and I also want to apologize to all Australians who suffer from this disability.”

Albanese’s apology came after strong criticism from figures including shadow minister for health and aged care Anne Ruston.

Tourette’s syndrome is a neurological disorder that involves tics that present themselves in various ways, described by the National Institute of Neurological Disorders and Stroke as “repetitive, stereotyped, involuntary movements and vocalizations.”

“Mocking a disability is no laughing matter,” Ruston wrote in post on X, adding that the comment was “absolutely despicable behaviour” from Albanese.

“Australians living with Tourette’s deserve the PM’s respect, not his ridicule,” she added.

“I’m incredibly disappointed and just gobsmacked somebody that has the national stage would use that platform and Tourette syndrome to make an insult,” she said.

Maysey, who has three children with Tourette’s, said the disability can be socially isolating.

“This shows we have a very long way to go until Tourette syndrome is taken seriously as a condition,” she added.

Singers Lewis Capaldi and Billie Eilish have both spoken about their experiences of living with Tourette’s.

“The worst thing about it is when I’m excited I get it, when I’m stressed I get it, when I’m happy I get it. It happens all the time,” Capaldi said in February 2023.

A few months later, Capaldi announced that he was taking a break from touring due to the impact of Tourette’s

In 2022, Eilish told David Letterman that the condition can be “exhausting.”

This post appeared first on cnn.com

The Potential Effect of the US Election on Cryptocurrency

The upcoming 2024 US presidential election has an influence on various sectors, and the cryptocurrency industry is no exception. As crypto continues to gain mainstream attention, its role in the political landscape is becoming increasingly significant. This article looks at the potential impacts of the 2024 election on cryptocurrencies and examines the positions of Donald Trump and Kamala Harris.

Donald Trump’s stance on cryptocurrency has undergone a significant shift since his previous term in office. Once skeptical of digital assets, the former president has now positioned himself as a champion of the crypto industry, aligning his campaign with the growing interest in blockchain technology and decentralized finance.

Trump has declared his intention to transform the United States into the “crypto capital of the planet” if he returns to the White House. This promise has an influence on the intersection of cryptocurrency and US elections, as it seeks to energize its base and attract support from the digital asset community.

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At a major cryptocurrency conference in Nashville, Tennessee, Trump outlined his vision for America’s crypto future. He pledged to defend the right to mine Bitcoin and ensure that every American has the right to self-custody their digital assets, free from government surveillance and control.

Trump’s campaign has embraced cryptocurrency, accepting Bitcoin donations as part of an effort to build what they call a “crypto army.” This move not only demonstrates Trump’s newfound enthusiasm for digital assets but also highlights the growing importance of crypto in campaign financing and voter engagement.

One of Trump’s most attention-grabbing proposals is his promise to establish a “strategic national Bitcoin stockpile” using the digital currency that the government currently possesses. Trump has stated that his administration will keep 100% of all cryptocurrency the U.S. government holds or acquires in the future. As of October 2023, it’s estimated that the U.S. government held more than GBP 3.93 billion worth of Bitcoin, largely seized from criminal investigations. This proposed stockpile would serve as the core of what Trump calls the “strategic national Bitcoin stockpile.” Critics argue that such a move could create conflicts of interest and raise questions about the government’s role in the crypto market.

Additionally, Trump has proposed creating a “Bitcoin and crypto presidential advisory council” with rules written by people who support the industry. This council could have a substantial impact on shaping future crypto policies and regulations.

Trump has also vowed to block the creation of a Federal Reserve-administered Central Bank Digital Currency (CBDC). He has called CBDCs a “dangerous threat to freedom,” echoing concerns within the crypto community about potential government overreach in digital finance.

These policy proposals have an influence on the broader crypto 2024 landscape, potentially shaping the future of DeFi and the relationship between cryptocurrency and US elections. As the campaign progresses, Trump’s crypto agenda will likely continue to evolve, reflecting the dynamic nature of both politics and the digital asset space.

Kamala Harris’s approach to digital assets has been evolving but remains somewhat ambiguous, reflecting the complex landscape of crypto regulation and policy.

There are indications that Harris may continue the Biden administration’s cautious approach to cryptocurrency regulation. Some analysts suggest that her administration could maintain a hardline stance on digital assets, potentially continuing the policies established under President Joe Biden.

Harris has been working closely with Brian Deese and Bharat Ramamurti, two prominent figures from the Biden administration known for their anti-crypto positions. Deese, played a central role in shaping the administration’s crypto policies, including the controversial “Chokepoint 2.0” initiative. An initiative that restricts the involvement of banks and other financial institutions in the cryptocurrency industry.

Ramamurti, who has been described as ‘the White House’s top crypto critic’, has a history of opposing pro-crypto legislation. His involvement in blocking a compromise on stablecoin legislation in 2023 has had an impact on the regulatory landscape for digital assets.

Despite the perception of a potentially tough stance on crypto, Harris’s campaign has been engaging with figures in the crypto industry. These meetings suggest an openness to dialog and potentially a more nuanced approach to crypto policy. The establishment of Crypto4Harris, a group dedicated to enhancing Harris’s appeal on cryptocurrency issues, underscores the growing importance of this topic in the upcoming election.

These engagements have led to some optimism within the crypto community. Billionaire investor Mark Cuban, a high-profile Harris surrogate and crypto advocate, has indicated that Harris’s campaign has expressed opposition to “regulation through litigation,” echoing a common complaint from the crypto industry about current regulatory approaches.

While Harris has not yet taken a definitive stance on crypto policy, there are signs that she may be open to a more balanced approach. At a fundraiser in New York City, Harris publicly expressed support for emerging technologies, including artificial intelligence and cryptocurrencies. She said, “We will encourage innovative technologies like AI and digital assets while protecting consumers and investors.”

This statement suggests that a Harris administration might seek to strike a balance between fostering innovation in the crypto space and ensuring consumer protection. It has an influence on the broader crypto 2024 landscape, potentially signaling a shift from the current regulatory approach.

Harris has the opportunity to bring clarity to crypto regulation, potentially by championing frameworks like the Financial Innovation and Technology for the 21st Century Act (FIT21). Such initiatives could provide the necessary guidance for the industry and position the U.S. as a leader in digital finance.

Moreover, Harris could potentially make crypto part of her broader “Opportunity Economy” vision, which prioritizes empowering small businesses, lowering costs for middle and working-class families, and expanding financial access. Crypto and blockchain technology could help achieve these goals by providing DeFi-enabled services, particularly for the unbanked and underbanked.

As the election approaches, Harris’s stance on crypto regulation could have a significant impact on campaign financing and voter engagement, especially among younger, tech-savvy voters who are increasingly engaged with digital assets. The crypto community, like many others, is eager for thoughtful leadership that understands the balance between innovation and protection, and Harris is positioned to potentially guide this landscape in a new direction.

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The Evolution of Forex Trading: From Barter to Blockchain

Forex trading is a dynamic financial market with a rich history that reflects economic, political, and technological developments around the globe. With its origin rooted in trade and commerce, the foreign exchange market has evolved into one of the largest and most liquid financial markets in the world. This article will explore how forex trading has evolved from its early beginnings to the technologically advanced present day.

The concept of currency exchange has existed since ancient times. As early as 3000 BC, merchants in Mesopotamia used barley as a medium of exchange. Similarly, in ancient Egypt, grains, and other commodities served as a form of currency. However, the use of coinage as a standardized medium of exchange marked a significant advancement in trade. The first coins are believed to have been minted in Lydia (modern-day Turkey) around 600 BC.

Over the centuries, as different civilizations interacted through trade, the need for currency exchange became evident. Travelers and traders had to convert their money into the currency accepted in the regions they were visiting. This need for currency exchange laid the groundwork for what would eventually develop into the forex market.

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$(‘.blur’).html(`By the medieval period, the establishment of trade routes and the rise of banking systems facilitated more organized currency exchange practices. Italian merchants, particularly those in Venice and Genoa, played a significant role in early forex trading. They developed exchange houses, where currency could be traded and exchanged, and established exchange rates based on supply and demand.

During this time, the concept of promissory notes also emerged, allowing traders to transfer value without the physical exchange of currency. These practices paved the way for modern banknotes and contributed to the growing complexities of trading different currencies.

The introduction of gold and silver standards provided a framework for measuring the value of currencies with precious metals, which encouraged international trade and investments. In the 17th century, the establishment of national banks, such as the Bank of England in 1694, further boosted the forex market. National banks had the authority to issue currency, maintain reserves, and manage exchange rates.

The rise of the British Empire meant that the British pound became the dominant currency for international trade. During this time, exchange rates fluctuated based on political events, economic factors, and shifts in global power.

The 19th century saw the establishment of the gold standard, which linked currencies to a specific amount of gold. This system simplified international trade as exchange rates became more stable and predictable. The gold standard facilitated global commerce and helped reduce risks associated with currency fluctuations.

During this period, leading financial centers emerged, including London, Paris, and New York. The forex market began to formalize, with the first currency exchange market opening in London in the early 1800s. Traders began to engage in more speculative activities, betting on the rise and fall of various currencies.

The 20th century marked a turning point in the history of forex trading. The collapse of the gold standard during World War I and the subsequent economic turmoil led to a more fragmented currency system. Central banks began to play a more significant role in managing their respective currencies through regulatory measures and interventions.

1944 saw the establishment of a new international monetary system known as the Bretton Woods Agreement. The agreement fixed currencies to the US dollar, which in turn was convertible to gold. This system aimed to stabilize exchange rates and encourage trade among nations. However, the Bretton Woods system faced challenges, such as inflation and trade imbalances, ultimately leading to its collapse in 1971.

Following the end of the Bretton Woods system, the forex market transitioned to a floating exchange rate system. This shift allowed currencies to fluctuate based on market forces, such as supply and demand, rather than being pegged to a fixed value. As a result, forex trading became more accessible and attractive to institutional investors, hedge funds, and individual traders.

The advent of technology played a crucial role in the expansion of forex trading. In the late 20th century and early 21st century, the Internet revolutionized access to financial markets. Online trading platforms emerged, allowing retail traders to participate in the forex market from the comfort of their homes. The introduction of leverage also enabled traders to control larger positions with smaller amounts of capital.

Today, the forex market is the largest financial market globally, with a daily trading volume exceeding $6 trillion. It operates 24 hours a day, five days a week, and includes a wide range of participants, from central banks and financial institutions to multinational corporations and individual traders.

In conclusion, the evolution of forex trading from ancient bartering to today’s digital marketplace showcases the remarkable progress in global finance. This journey has seen the rise and fall of various monetary systems, each leaving its mark on how currencies are valued and exchanged. The shift from fixed to floating exchange rates has had a profound impact on the forex market, leading to increased liquidity and trading opportunities.

Technological advancements have been game-changers in the forex world, making trading more accessible and efficient than ever before. The emergence of major currency pairs and the dominance of the U.S. dollar have shaped the modern forex landscape. Looking ahead, the forex market is likely to keep evolving, with new technologies and changing global economic dynamics continuing to shape its future. The history of forex trading serves as a reminder of the market’s resilience and adaptability in the face of economic shifts and technological breakthroughs.`);

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