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Trump about Paris climate agreement: ‘We’re getting out’

President Donald Trump announced Thursday his decision to withdraw the US from the Paris climate accord, a sweeping step that fulfills a campaign promise while seriously dampening global efforts to curb global warming.

Speaking from the White House, Trump said he was open to renegotiating aspects of the agreement, which was inked under his predecessor and which all nations except two have signed onto.

Trump and Europe don't mix, and that will have lasting consequences

Trump and Europe don’t mix, and that will have lasting consequences
But he was withering in his criticism of the pact, which he cast as a humiliating defeat for American workers that unfairly advantaged foreign countries.
“At what point does America get demeaned? At what point do they start laughing at us as a country?” Trump asked during an afternoon event held in a sun-drenched Rose Garden.
“We want fair treatment,” Trump said. “We don’t want other countries and other leaders to laugh at us anymore.”
The decision amounts to a rebuttal of the worldwide effort to pressure Trump to remain a part of the agreement, which 195 nations signed onto. Foreign leaders, business executives and Trump’s own daughter, Ivanka, lobbied heavily for him to remain a part of the deal, but ultimately lost out to conservatives who claim the plan is bad for the United States.
Trump, who has governed with an “American First” policy, said Thursday he was carrying out the will of the voters who elected him to the White House.
“I was elected by the citizens of Pittsburgh,” Trump said, “not Paris.”

White House: Trump ditching Paris climate deal

White House: Trump ditching Paris climate deal 01:38

Lengthy process

In triggering the official withdrawal procedures, Trump has sparked a lengthy process that won’t conclude until November 2020 — the same month he’s up for reelection, ensuring the issue becomes a major topic of debate in the next presidential contest.
In his remarks, Trump said he was open to re-brokering US carbon reduction commitments, but cast doubt on the ability of other nations to agree to a plan that he deems fair to the United States. He said the deal placed “draconian” financial burdens on the American people.
“We’re getting out,” he said. “And we will start to renegotiate and we’ll see if there’s a better deal. If we can, great. If we can’t, that’s fine.”
Trump said his announcement would end the implementation of carbon reduction targets set under Obama, and stall all contributions to the United Nations’ Green Climate Fund, which Trump said was “costing the United States a fortune.”
“As someone who cares deeply about our environment, I cannot in good conscience support a deal which punishes the United States,” he said. “The Paris accord is very unfair at the highest level to the United States.”
The President campaigned ardently against the climate agreement last year as a candidate, vowing to “cancel” the accord. Those close to him said he was insistent upon fulfilling his promises, despite urging from some members of his own administration to remain in the agreement.
A person familiar with Trump’s thinking said the President was convinced he needed to withdraw from the pact, and there was little chance of talking him out of it.
Opponents of the move say it threatens to isolate the United States in a global effort to curb the warming of the planet, and leave an opening for countries like China to fill the leadership void.
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Bitcoin’s Price Correction Called in Advance by Analyst

Fibonacci Retracement

Bitcoin's Price Correction Called in Advance by AnalystAn analyst at Forex Analytix, Nicola Duke, uses a method called Fibonacci retracement to analyze the price of bitcoin as well as determine its support and resistance levels.

This popular technical analysis tool is based on the idea that markets will retrace a predictable portion of a move before continuing in the original direction. It looks at the peaks and troughs or rallies and falls of historical bitcoin prices in order to forecast future movements.

“According to Fibonacci analysis, the way bull markets typically work is that you’ll have a pullback that stops when it retraces a key percentage of a previous move higher,” CNBC explains, adding that these key percentages come from Fibonacci Ratios. Examples of key ratios which technical traders like to use are .618, .786, 1.27, 1.618, and 2.618.

Bitcoin’s Price Analysis

Duke’s Fibonacci retracement analysis chart, using Bitstamp weekly prices going back to 2013, was published on on Thursday.

Bitcoin's Price Correction Called in Advance by Analyst with More Predictions
BTCUSD support levels weekly chart (Photo\Nicola Duke)

She indicated on the chart that $2,283 is the short-term trend support; another support level above that is $2,800. In addition, bitcoin has two major support levels below $2,283. They are $2,145 and the more likely $1750-80. Both are shown on her chart.

In an interview with CNBC on Thursday morning, Duke explained that “wave two” of bitcoin began in the fall of 2013. The price of bitcoin rallied sharply for several months before falling steadily. It bottomed out in January 2015, then began to climb again. Currently, bitcoin is in “wave three”, the publication relayed her findings:

$2,800 could be the level at which bitcoin begins its fall. The price is likely to hit $1,780, but could even fall as far as $1,470.

Duke expects this next wave, which is the fourth, to last 61.8 percent of how long wave two lasted. 61.8 percent is one of the key Fibonacci ratios.

She believes that the rally after the correction would start in January. “We will see the bottom at the start of January, that is when stock markets typically tend to have a correction as well,” she noted, then explained to CNBC that:

After that, there should be a sustained rally to $3,350 and then $4,480 in 2018.

What do you think of this Fibonacci retracement analysis? Let us know in the comments section below.

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Bitcoin Helps Venezuelan Families Avoid Starvation

Bitcoin Saves a Family From Starvation and Gives Them Financial Freedom

Bitcoin Helps Venezuelan Families Avoid StarvationThere have been many reports of people residing in Venezuela turning to bitcoin to hedge against the country’s economic failures. Venezuelans have been using bitcoin because their national currency the Bolivar has been significantly devalued and citizens using the tender are suffering from over 1800 percent inflation. The enthusiast who detailed that bitcoin was saving his family from starvation wanted to let the public to know the potential for the cryptocurrency used in this fashion is way bigger than its use cases in the black market.

“I want to debunk that myth and explain how real the potential for bitcoin is and how it is so much bigger than the black market can ever be,” explains the threads author.

Bitcoin is literally saving my family from hunger and giving them the financial freedom to emigrate in the near future — Thanks to the rising price of Bitcoin and its relative stability (compared to the Venezuelan economy) my family is part of a very small fortunate minority that can afford to help feed their community and also potentially emigrate to another country.

Bitcoin Helps Venezuelan Families Avoid Starvation
Venezuelan citizens waiting in very long lines to purchase food during shortages.

‘Skeptical About Bitcoin but No Other Options Were Available’

The author states that his father lost his air conditioning job some time ago, and his neighbors around him, even the upper class cannot afford food. He explains bitcoin being used by criminals is no different than then when they use cash for illegal activities. “If you take one step back you’ll realize that the possible legitimate uses for bitcoin are far greater than the black market.” In 2014 his family discovered bitcoin but were very skeptical about the digital currency, “but we didn’t have any other options,” the author details.

The post also explains that many people are trading bitcoins underground to acquire either Bolivars or USD to purchase food and living necessities. Furthermore, some Venezuelans are using bitcoin for arbitrage opportunities as well.

Right now I can exchange 1 USD for around 6000 Bolivars. Some clever people have figured out they can sell 1 USD worth of bitcoins for 4500 Bolivars and keep 1500 as profit. They use this money to buy goods and import through towns that border with Colombia.

Many Other Countries May Face the Same Economic Hardships

The interesting post about bitcoin saving the young man’s family was well received by the crypto-community. Additionally, a few other Venezuelans revealed how bitcoin was helping them and the methods they use to convert bitcoin into USD or Bolivars.

Moreover, a couple individuals from the U.S. and other regions said that people from “well off” countries should not assume the economic situation in Venezuela will not happen to their economy. In their opinion Venezuela, Greece, and many other manipulated and centrally planned monetary systems worldwide are simply the first of many to fall.

What do you think about bitcoin helping this family from starvation? Do you believe there are more families around the world using bitcoin as a safe haven? Let us know in the comments below.