Quick, with MAGA-shocking news reverberating there’s a mid-west rush on winnamins.
Remember that massive MAGA Trump rally last week in Duluth Minnesota? That would be the 9,000 strong rally where twice as many were turned away?
Well, the data team at MAGA HQ have crunched the numbers and Brad Parscale shares the results: “The crowd at the Minnesota rally was 60% Democrat and Independent.”
There is an article from Bloomberg which finally concedes the obvious economic and trade dynamic within a U.S. -vs- China confrontation. The media paradigm shift is based on new statements from Chinese Ministers admitting they cannot win a trade confrontation with U.S. President Trump.
The summary reason is simple, we have discussed it frequently:
China is a production-based economic model, they do not have the ability, or wealth, to consume their own durable goods production; they rely on exports.
The U.S. is a more balanced economy; we consume 80% of our own production. We are self-sustaining, China is not.
Without a market to sell their products, the Chinese economy cannot survive.
Conversely, China has focused so intensely on durable-goods manufacturing, their consumable goods market (food) is dependent; they cannot feed themselves. The U.S. can survive without exporting food, China cannot survive without importing food. The U.S. economy can survive without importing durable goods; the Chinese economy cannot survive without exporting durable goods. This is the unavoidable trade reality. As a consequence President Trump has all the factual leverage.
In stunning, and carefully worded economic writings, Chinese academics and economic ministers are now talking about the inherent weakness of the Red Dragon policies:
(Bloomberg) Xi Jinping vowed to match Donald Trump blow for blow in any trade war. Now as one gets closer, some in Beijing are starting to openly wonder whether China is ready for the fight — an unusually direct challenge to the leadership of the world’s second-largest economy.
The essays have raised concerns that the ruling Communist Party underestimated the depth of anti-China sentiment in Washington and risked a premature showdown with the world’s sole superpower. Such views push the bounds of acceptable public debate in a nation where dissent can lead to censure or even jail time, and are particularly bold given Xi has amassed unrivaled control while leading China to a more assertive role on the world stage.
[…] “It seems like Chinese officials were mentally unprepared for the approaching trade friction or trade war,” Gao Shanwen, chief economist for Beijing-based Essence Securities Co., whose biggest shareholders include large state-owned enterprises, wrote in one widely circulated commentary.
[…] The essays have been noticed by key officials. Gao’s piece was circulated last week among bureaucrats at the Commerce Ministry, which has been on the front lines of the trade dispute, said one agency official, who asked not to be named because the discussions were private.
Other officials expressed skepticism about the senior leadership’s strategy in discussions with Bloomberg News last week. One Finance Ministry official said the country had made a “major misjudgment” of the U.S.’s commitment to a long-term confrontation with China.
[…] “People are going to look back at this year as the pivot point when Xi Jinping overreached and sparked an international backlash against the party and China’s development model on multiple fronts,” said Jude Blanchette, China practice lead at Crumpton Group in Arlington, Virginia, and a former Conference Board researcher in Beijing. “There can’t be a domestic backlash because most of what they spend their time doing is thinking about how to stop that.” (read full article)
Plant your trees in another man’s orchard, and don’t be surprised if you end up paying for your own apples!
Again, the key dynamic: The U.S. economy can survive without importing durable goods; the Chinese economy cannot survive without exporting durable goods. This is the unavoidable trade reality.
Now, frame that in a similar way for NAFTA.
The Canadian and Mexican economy (due to NAFTA) cannot survive without importing cheap durable goods from China to use in their assembly-based economies, and then trans-ship into the U.S market. However, the U.S. economy can survive, it can actually expand BIGLY, without accepting trans-shipped assembled goods from Mexico and Canada
Put simply, without NAFTA, the assembly processes just moves INTO the U.S because the market *is* the United States. We are the $20 trillion customer. We hold the leverage.
Example:
NOTE: “Donnelly said in his opening remarks that there was already a rise in product being diverted to Canada in recent years and signs of even more since the U.S. tariffs began this year.”..
This is evidence of multinationals exploiting the NAFTA loophole to avoid U.S. tariffs. This fatal flaw is at the very heart of the issue within the U.S. trade policy inside NAFTA. As long as Mexico and Canada remain gateways for foreign good assembly and shipment into the U.S. there will never be a way for the U.S. to demand fair and reciprocal trade.
Canada knows their decades-long designed economic position as shipment/assembly trade-brokers is the central issue is the heart of the confrontation with USTR Lighthizer, Commerce Secretary Ross and President Trump. As multinational corporations seek to avoid Trump tariffs they only exacerbate the issue.
If Canada and Mexico don’t try to stop their duplicitous NAFTA benefit scheme, they will end up with even bigger trade surpluses and become even bigger targets for President Trump. In essence, the reason for Canada and Mexico being subject to even more encompassing Trump tariffs’ grows.
If Canada and Mexico do nothing to stop this influx; Trump will levy more than just steel and aluminum tariffs; he’ll likely tax their auto-sector.
As a consequence Canada moves do back-down Red Dragon:
The Canadian government is preparing new measures to prevent a potential flood of steel imports from global producers seeking to avoid U.S. tariffs, according to people familiar with the plans. The Canadian dollar weakened and shares in Stelco Holdings Inc. soared.
The measures are said to be a combination of quotas and tariffs aimed at certain countries including China, said the people, asking not to be identified because the matter isn’t public. The moves follow similar “safeguard” measures being considered by the European Union aimed at warding off steel that might otherwise have been sent to the U.S. It comes alongside Canadian counter-tariffs on U.S. steel, aluminum and other products set to kick in on July 1. (read more)
The bottom line is U.S. market access is what all production countries need for their goods and the sustainability of their economies. The same dependency dynamic applies to German autos and Angela Merkel.
Trump wants three key issues resolved with Germany and he’s holding all the leverage to achieve it. 1) He wants Germany to pay for more of NATO defense and quit shirking their own responsibilities. 2) He wants the EU protective trade restrictions removed; and 3) He wants full EU support for sanctions against Iran.
The way for Trump to achieve these three objectives against the EU is through the threats on the auto-sector (20% tariff); which mostly impact Germany. Chancellor Angela Merkel is the EU:
EU Parliament.
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Today President Trump will award a posthumous medal of honor to WWII veteran First Lieutenant Garlin Murl Conner, who died in 1998 after returning home from his deployment in France in 1945. The honors will be received by his widow, Pauline Lyda Wells Connor. Anticipated start time 3:30pm
WH Livestream Link – PBS Livestream Link – Fox News Livestream Link
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♦ Enlistment date: March 1, 1941 ♦ Unit: 3rd Battalion, 7th Infantry, 3rd Infantry Division ♦ Campaigns: Algeria-French Morocco, Tunisia, Sicily, Naples-Foggia, Anzio, Rome-Arno, Southern France, Rhineland, Ardennes-Alsace, Central Europe.
Garlin M. Conner was born on June 2, 1919, and raised in rural Clinton County, Kentucky. With the nearest high school almost 15 miles away, Conner’s formal education ended in eighth grade. He spent his teenage years working on his family’s farm and served in the Civilian Conservation Corps when he enlisted in the Army, March 1, 1941, at Fort Lewis, Washington.
Following basic training, Conner was assigned to the 3rd Battalion, 7th Infantry, 3rd Infantry Division. After several months of training, Conner and the 3rd Infantry Division deployed, Oct. 23, 1942. During Conner’s service, he fought for 28 months on the front lines in 10 campaigns, participated in four amphibious assault landings, was wounded seven times and earned a battlefield commission.
Conner’s awards and decorations include: the Distinguished Service Cross, the Silver Star with three Bronze Oak Leaf Clusters, the Bronze Star Medal, the Purple Heart with two Bronze Oak Leaf Clusters, the Army Good Conduct Medal, the American Defense Service Medal, the American Campaign Medal, the European-African-Middle Eastern Campaign Medal with Bronze Arrowhead and two Silver Service Stars, the World War II Victory Medal, the Presidential Unit Citation with one Bronze Oak Leaf Cluster, the Combat Infantryman Badge, the Expert Infantryman Badge, the French Croix de Guerre, the French Fourragere and the Honorable Service Lapel Button-WWII.
After spending over two years in nearly continuous combat, Conner was honorably discharged from the Army, June 22, 1945. Conner returned home to Clinton County after his discharge to a parade in his honor, where he met Pauline Lyda Wells. After a one-week courtship, they were married.
When locals in the rural farming town of Albany, Kentucky, would ask Garlin “Murl” Conner about his time in World War II, he’d hush them quickly.
“I’d done what I had to do,” Conner said in Soldier accounts, “and that’s all there is to it.”
Conner ran a 36 acre farm in Clinton County, Kentucky, where he and Pauline raised their son, Paul. For several years, he served as president of the local Kentucky Farm Bureau, and he and Pauline volunteered their time to help disabled veterans receive their pension benefits. Conner died in 1998 at the age of 79 after battling kidney failure and diabetes
On the morning of Jan. 24, 1945, 1st Lt. Garlin M. Conner was serving as an intelligence staff officer with the 3rd Battalion, 7th Infantry, 3rd Infantry Division, near the town of Houssen, France, when German formations converged on 3rd Battalion’s position.
With his battalion at risk of being overrun, Conner volunteered to run straight into the heart of the enemy assault in order to get to a position from which he could direct friendly artillery on the advancing enemy forces.
With complete disregard for his own safety, Conner maneuvered 400 yards through enemy artillery fire that destroyed trees in his path and rained shrapnel all around him, while unrolling telephone wire needed to communicate with the battalion command post. Upon reaching the battalion’s front line, he continued to move forward under the withering enemy assault to a position 30 yards in front of the defending U.S. forces. He plunged into a shallow ditch that provided little protection from the advancing enemy’s heavy machine gun and small-arms fire.
With rounds impacting all around him, Conner calmly directed multiple fire missions on to the force of 600 German infantry troops, six Mark VI tanks and tank destroyers, adjusting round after round of artillery from his prone position until the enemy was forced to halt their advance.
For three hours, he remained in this prone position, enduring the repeated onslaught of German infantry which, at one point, advanced to within five yards of his position. When the Germans mounted an all-out attack to overrun the American lines and his location, Conner ordered his artillery to concentrate on his own position, resolved to die if necessary to halt the enemy.
Ignoring the friendly artillery shells blanketing his position and exploding within mere feet, Conner continued to direct artillery fire on the enemy assault swarming around him until the German attack was finally shattered and broken. By his incredible heroism and disregard for his own life, Conner stopped the enemy advance. The artillery he expertly directed while under constant enemy fire killed approximately 50 German soldiers and wounded at least 100 more, thus preventing heavy casualties in his battalion.
Source Here – and – Source Here
Immediately before lunch with members from congress, President Trump delivers remarks in response to the Supreme Court removing a challenge to the administration travel restrictions and vetting process. In a 5-4 decision the Supreme Court upheld the president’s authority to restrict travel from countries who are not compliant with U.S. vetting requirements.
26-year-old Ms. Reality Winner (what a goofy name), “Reality Leigh Winner“, aka “Reality Winner” aka “Sara Winner“, aka “Sara Winners“,was an NSA contractor in June 2017 when she was arrested and charged under the Espionage Act for stealing classified documents and leaking them to the media. Today she pleads guilty to one count of unlawful retention and dissemination of national defense information.
GEORGIA – Reality Winner, the former National Security Agency contractor accused of leaking classified information to journalists, pleaded guilty Tuesday as part of a deal with prosecutors.
Winner, 26, pleaded guilty to one count of unlawful retention and dissemination of national defense information.
Her plea agreement, signed June 19, says she’s facing a possible sentence of 63 months in jail and three years of supervised release. No date has been set yet for a sentencing hearing.
Winner was arrested in June 2017 for allegedly feeding a classified report with information on Russia’s involvement in the 2016 presidential election to a news outlet.
“I misused my clearance to print out the report…I did so of my own free will,” Winner said during Tuesday’s court hearing.
Winner was charged, under the Espionage Act, with removing classified material from a government facility and leaking it. According to court documents, Winner snuck the document out of a secure NSA facility by folding it and putting it in her pantyhose.
During Tuesday’s hearing, the judge asked Winner questions about her mental state. Winner disclosed she is taking antidepressant Zoloft and battling an eating disorder as well as depression. She has been held at the Lincoln County Jail near Augusta, Ga. (read more)
The Supreme Court has upheld President Trump travel restrictions and rejected the challenge to the Trump administration’s September 2017 travel ban. (full ruling pdf below). Response from the White House – Statement from the President Regarding Supreme Court Ruling:
Today’s Supreme Court ruling is a tremendous victory for the American People and the Constitution. The Supreme Court has upheld the clear authority of the President to defend the national security of the United States.
In this era of worldwide terrorism and extremist movements bent on harming innocent civilians, we must properly vet those coming into our country. This ruling is also a moment of profound vindication following months of hysterical commentary from the media and Democratic politicians who refuse to do what it takes to secure our border and our country.
As long as I am President, I will defend the sovereignty, safety, and security of the American People, and fight for an immigration system that serves the national interests of the United States and its citizens. Our country will always be safe, secure, and protected on my watch. ~ President Donald Trump
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QUESTION: Do you agree that a democracy will never last because the people will vote themselves other people’s money? Do you support Trump or are you against him? Sometimes to agree and others you disagree. Or are you just between the two extremes?
VE
ANSWER: First, a democracy has been always temporary in nature, this is very true. Any form of government simply cannot exist as a permanent establishment for there will always be forces to usurp it as long as it claims a power to tax and legislate. A democracy will continue to exist not until the time that voters discover that they can vote themselves generous gifts from the public treasury. That is a questionable quote attributed to Alexander Fraser Tytler, Lord Woodhouselee (1747 – 1813). History does not support that. The Greek Democracy was overthrown not by the people but by the oligarchs. It is easy to say that the majority always votes for the candidates who promise the most benefits from the public treasury. But there is no absolute 100% empirical evidence of that. This view is purely post-Marxism and does not hold up historically. We are reaching a point that we cannot expect the truth from left or right. The worst form of government is always a Republican form which pretends to be democratic but is always in the hands of the oligarchy – just behind the curtain.
I believe the only type of government which may last cyclically longer is a Direct Democracy with a strict Constitutional Restraint, a Private Supreme Court which MUST hear every case and the Constitutionality of any legislation MUST be tested BEFORE enforced. If we can buy online from Amazon securely, then we can vote online securely as well and reduce the potential to rig elections as they have always done. The PEOPLE should have control of the legislature NEVER pretend “representatives” of the people who are career politicians. We can have “representatives” but that should be a term that is limited to ONE YEAR and never a career. They MUST be subject to the very laws they authorize. We should all be able to vote on every law at home and each law MUST be a stand-alone issue as they do in Switzerland. To change the Constitution, it should NOT be the majority of states, it should require 100% uniformity. Difficult – yes! That is the point. This just touches the surface. A lot more needs to be done.
You must separate Trump the person from the trend. These people who bash Trump focus on him personally. That is NOT THE TREND!!!!!!!! He is the symptom – NOT THE CAUSE!!!!!! He was elected for the simple reason he was against CAREER politicians. He beat 17 of them. If you remove California, he also won the majority of the popular vote throughout the rest of the nation and there were countless claims that California was rigged. That is why Bernie went to the White House to talk to Obama BEFORE he agreed to concede to Hillary. Bernie really won California. Even with all the rigging in California, the establishment still lost.
Trump is by no means the best person for the job. However, he is the ONLY person. He has bashed Canada on trade but keep in mind he is by far not being different there. All politicians say the same thing behind the curtain. I disagree with this nonsense because trade is HIGHLY distorted by currency. Canadians are NOT going to buy shoes in the USA, scuff them up, and sneak them back into Canada. First of all, most shoes are made in Asia anyhow. Secondly, the US dollar is TOO HIGH to make it worthwhile for Canadians to travel to the USA to buy things for they will NOT be cheaper. When it comes to trade, Trump is displaying the same nonsense that has been the prevailing view since World War II. I have stated plenty of times, NOBODY knows what is the balance of trade because it is measured under the old fixed exchange rate system.
I have CONSISTENTLY argued against this stupidity even when the politicians start bashing other countries accusing them of manipulating their currencies for trade. So do I fault Trump? No. This has been the prevailing view of ALL politicians for they are prejudiced by the failed economic theories that we were taught in school and are STILL being taught to this very day even in the top 10 universities around the world!!!! Hello! Welcome to the floating exchange rate system since economics continues to ignore the simply fact the monetary system changed back in 1971.
This is the response of Tim Geithner for Rubin. You will recall that Geithner later became Secretary of the Treasury.
There have been a few politicians over the years that understood what I was arguing about is this currency manipulation all for trade. However, they are far and few between.
So do I support Trump? On some things yes, on others no. I am by the issue, not the political party. Republican and Democrats are the same when it comes to money. They just push everyone’s buttons on social issues. John McCain voted to enforce state sales taxes federally. He justified that by claiming he was not “raising” taxes but voted to enforce what taxes already existed. That is what I mean in politics – it’s; just show me the money. So no, I will defend Trump on economic issues that are valid and disagree when he has it wrong. I just ignore the person and deal with the issues not the gutter bashing that ignores the subject matter which is the entire purpose of bashing Trump so we do not look at the issues.
Some people think that Andrés Manuel López Obrador, who is leading the polls in Mexico, is their answer to Trump. This is once again the constant trend of trying to blame Trump for everything. In 1933, Adolf Hitler came to power and Mao Zedong rose in China. At the same time, we saw Franklin Roosevelt take office after beating Herbert Hoover. The PROPER way to view politics is rather simple. The people in Mexico are sick and tired of career politicians and they too are demanding REAL CHANGE. The key to understanding the political trend is very clear and distinct — whoever is in power is thrown out without a particular political view be it left or right.
This is a generational shift. That is what these 51.6-year waves in the Economic Confidence Model truly represent when we are looking at societal changes. Nearly half of all eligible voters in Mexico are now under 40, and of that, 20% will be voting for the very first time! We are watching the younger generation coming to power and the old ideas are falling rapidly. The younger generation is an age group that is profoundly disenchanted with the political “establishment” and are DEMANDING a moral leader to bring about real change, not just in Mexico, but around the entire world.
The change in government over corruption in Malaysia was profound. Now we see thousands of anti-corruption protesters are demonstrating in cities across Romania for the fifth day after a court sentenced the country’s most powerful politician for official misconduct. There have been far more than 10,000 demonstrators waving Romanian and European Union flags outside the government offices in Bucharest on this past weekend. They were singing the national anthem and using their smartphone torches to illuminate the night sky. They were yelling: “We don’t want to be a nation of thieves!” and “Down with the Social Democratic Party!”
If you listen to CNN, Washington Post, and the New York Times, they are all combining to fight for the “establishment” against Trump. They feel their power is slipping and they are fighting back, but they will lose in the end and may send the nation into a storm of bloodshed. People are demanding CHANGE and the “establishment” is fighting back. In many circles, the face of that establishment is George Soros who has been funding things like the anti-BREXIT position in Britain, the Democrats in the USA, and the effort to federalize Europe under Brussels.
Many are starting to see this as a confrontation between Trump and Soros. One German press report, Epoch Times, ran the headline: Soros fears for his liberal-globalist world order – Trump’s “revolution in world politics” is becoming successful. Soros has been funding the anti-Trump agenda. What comes out of this mess is going to be nothing but civil unrest.
Soros did admit that he helped confiscate property from Jews for the Nazis. Soros views that he was a child of 14, and if he did not help his adopted father do that, then someone else would so he has no sense of guilt. This is a window into his character for he assumes that whatever happened would have happened anyway if he were not funding it today. Interesting perspective.
If you want to see the REAL trend, stop looking at Trump — look around the world and connect the dots. Then you will see we are headed into a major period of global civil unrest for politicians have rigged the game for themselves since World War II. Trump was not a fluke, and he certainly was not the cause. He too is simply a symptom of the trend in motion.
Those in power deliberately seek to make any issue complex and show so many facets that this seeds the crop of disunity and debate. This is a DELIBERATE strategy! They know people want a single cause and effect. Given the people many potential causes, they will argue among themselves. Keeping the people divided is the key to retaining power. As long as the establishment is obfuscating the global trend by picking on things Trump says or does in a desperate attempt to discredit him, there is no possible way getting rid of Trump. They will not manage to put the genie back in the bottle. This is a GLOBAL TREND — just open your eyes and you will see it absolutely rising EVERYWHERE!!!!!
The Mueller investigation is all about removing Trump from office, which has been cheered by CNN, New York Times, and The Washington Post among many others. They are intent on overturning the results of a Democratic election to ensure this is no longer a government of the people for the people. They see this as intolerable and those who voted for Trump are too stupid to vote anyway. I have actually heard that argument. So we all know what the objective here really is – Mueller is to overthrow the presidency. Yet, history may one day write that this is the very man who created the Second American Civil War.
Mueller is hell-bent on charging Trump to get him out of office. The bureaucracy then will take back the government and suppresses the people, grinding us into the dirt. What they overlook is that the resentment from both sides is turning into sheer unbridled hatred and this is the foundation needed for a Civil War. This is by no means the first time a president was elected this century and many said he didn’t really win. Of course, the election of Abraham Lincoln led to the secession of several states who also rejected the election because they lost. The South rose up against the North and the Civil War began. The Supreme Court gave George Bush the election and that began to stir the discontent among the people.
The Presidential election of 1824 was really the start of the Civil War. This followed the Missouri Compromise which was legislation passed on May 9th, 1820, and provided for the admission of Maine as a free state along with Missouri as a slave state. This maintained the balance of power between North and South in the United States Senate. It was showing that the tension was rising when the presidential election followed four years later.
John Quincy Adams won the election and served as president from March 4, 1825 — March 4, 1829, but he actually lost in electoral votes and in popular votes to Andrew Jackson. The 12th Amendment specified if no candidate for president has a majority of the total votes in the Electoral College, then the House of Representatives, voting by states and with the quorum was to consist of a member or members from two-thirds of the states, and a majority of all the states shall be necessary to a choice. The 12th Amendment requires the House to choose from the three highest receivers of electoral votes, compared to five under the original procedure. Henry Clay was thus eliminated and he threw his support to Adams. In the contingent election decided in Congress, Clay’s backing gave the Presidency to Adams on the first ballot. Jackson accused Clay and Adams of having agreed to a “corrupt bargain” in which Clay supported Adams in return for his appointment to the most prestigious Cabinet position. This was the event that split the Democratic-Republican Party into the National Republican Party and Jackson forming the Democratic Party.
The hatred that is brewing is really out of control. We have the actor Peter Fonda calling to kidnap Trump’s son and put him in a cage. To advocate kidnapping, anyone in the president’s family is just insane. This is showing there is no longer any civility left. The Hollywood industry is simply out of control. Kathy Griffin thought it was funny to show a bloody severed head of the president on TV. There is ZERO respect for the office of the presidency. I was not a fan of Obama, but you do not cross the line and propose violence against him and then in another breath protest gun violence and call for all guns to be banned.
The left is historically always the violent side. The right argues to be left alone. The left cannot sleep at night because they worry the right is not submitting to their control. The revolutions in Russia and China came from the left. The French Revolution was also a leftist movement and that is where they began with the “Commune” project. It was the French who convinced Marx about Communism.
In 1848, territory won from Mexico was to become a state. This upset the balance of power and it illustrated that tensions were rising between the North and South. The True Issue or “That’s What’s the Matter” is a Currier & Ives print showing General George McCellan preaching a peaceful end to the Civil War standing between Lincoln and Jeff Davis trying to support the union. An American Civil War certainly becomes possible between 2024 and 2026 if tensions continue to rise. Interestingly enough our volatility models on the prospect of a civil war bottomed in 2008.
Based upon our model, assuming Trump remains in office and is even re-elected in 2020, that brings us to 2024 and that is where we see a serious risk of rising tensions that could bring about a Second American Civil War. This is what I mean when I ask, “What comes after Trump
QUESTION: It certainly seems that the cryptocurrency world has its flaws and may even be worse than traditional bank accounts and credit cards. They keep getting hacked. So they are trying to defeat central banks but may be running into the arms of scammers and thieves. I read one guy even claimed Bitcoin would be the new reserve currency. I really do not understand these fools. How can Bitcoin become the reserve currency? Where does this really end?
EP
ANSWER: I really do not know. The dollar is the reserve currency BECAUSE it has a $20 trillion debt that is used globally to park money. Europe never created a single debt market and that is why the euro never managed to compete with the dollar. There is just no way Bitcoin can become the reserve currency. That is really la-la-land. Where does this end? The technology may be absorbed by governments and perhaps you end up with a single electronic currency for each country. As far as circumventing central banks and governments, they can shut it down whenever they want by simply declaring cryptocurrency is for criminals as Australia is trying to do with cash.
With respect to the hacking, well easy come easy go. For the second time in just a few days, hackers launched a raid on a South Korean cryptocurrency exchange. The hackers had captured in one night about €27 million euros, the trading platform Bithumb had to admit. This is number six worldwide in terms of trading volume for cryptocurrencies. Bithumb announced that it would compensate its users.
The prices of most cryptocurrencies fell after the second South Korean incident within a few weeks. Bitcoin, the largest cryptocurrency, fell 2% that day. These attacks are starting to wear down the cryptocurrency market, and we may yet see a decline further into July.
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