Saturday, August 15, 2020

Max $5147, $1391 guaranteed-Service Cred Union, SoFi Money/Invest/Loans, Webull, Chime, Public,Aspiration,FirstTrade,Dough,Stash,Voyager,Moomoo,Donut,Root,TradeUP,Gemini,Qapital, Robinhood,M1Finance, Acorns,ChaseFreedom,DiscoverIT,Round,E*Trade, PremierMembersCU, SkyOne,Orchid,PersonalCapital, eToro

There are a lot of awesome referral opportunities out there, these are my personal favorites! All these offers (besides Gemini) are US only.

Banks

On the account application, after you select the Everyday checking account, it asks: "Did a friend refer you through the Pays 2 Know Program?"

Select "Yes" and paste this code: P2K0413361801

Guide on this referral bonus- https://sites.google.com/view/servicecreditunionguide/home

Stocks

Cryptocurrency

Credit Cards

Other

  • Root: Free $25 for downloading the app, and allowing it to track your driving for 3-4 weeks. (Need to keep your phone on while driving so it can give you a quote. You can simply reject the offer and take the $25 bonus anyway).
  • SoFi Loans: Free $300 for refinancing a student loan or taking a personal loan.

--Details on each offer below--

Banks-

Service Credit Union

Service Credit Union has an awesome new referral opportunity where they pay out $100 for anyone who signs up for an Everyday checking account account using a referral code and direct deposits $500. However, ACH or mobile checks through their app trigger the bonus, as does deposits from SoFi Money!

And you can close the account at any time with no fees or consequences-

Sign up using this link-

https://servicecu.org/pays-2-know-referred/

On the account application, after you select the Everyday checking account, it asks: "Did a friend refer you through the Pays 2 Know Program?"

Select "Yes" and paste this code: P2K0413361801

If you don't enter this promo code, you will not get the bonus, so please be sure to!

They also require you to sign up for the American Consumer Council if you live outside of Massachusetts or New Hampshire (their target locations). Luckily, signing up for that association is easy and free. To do that, sign up using the form below and use membership code "consumer" to get it for free. You only need to fill out the One person per application: section.

https://www.americanconsumercouncil.org/membership.asp?dname=Americanconsumercouncil.org

This is a relatively new referral offer, but easily one of the easiest and highest paying ones out there.

I made a guide with more detailed info on the steps to complete this referral offer, you can check it out here-

https://sites.google.com/view/servicecreditunionguide/home

SoFi Money

SoFi is a bank/app that give out $50 for anyone who signs up for a SoFi Money (bank) account using a referral code and deposits $500 from any source. So all you have to do is open an account with a referral link, deposit $500, and then instantly collect the bonus and then take it all back.

And you can close the account at any time with no fees or consequences-

I would be grateful if you used my referral link- https://www.sofi.com/invite/money?gcp=e65d8ea1-fd35-40bc-b801-547c3fc6e749

Chime

Chime is a bank/app which pays you a $50 bonus for opening an account via a referral code making a $200 direct deposit. There are no catches, and you can close the account at any time fee free as soon as you register their debit card (gotta wait a few days to get it in the mail).

A "direct deposit" technically means that they want you to deposit the money right from payroll, Social Security, or other direct payment, but you can actually meet this requirement simply by transferring in $200 from CASH APP! So you could deposit 200 into cash app, then withdraw that 200 into chime and get the $50 bonus!

If you don't have cash app, you can also transfer in $200 from most bank accounts and still get the bonus.

referral link- https://chime.com/r/milazadrozny

Aspiration

Aspiration is an online bank which is offering a free $50 bonus for simply opening an account via a referral link and spending $250, and an extra $100 for $1000 spend in 3 months.

So all you have to do is open a “Spend & Save” account using a referral link, spend $250/1000 using their debit card within 3 months, and then you will get $50/150 posted to your account! There are no fees to worry about! You can close the account fee free whenever you want!

referral link- https://my.aspiration.com/app/token/referral/232Y47KAE4OG8Y8W/

Stash

Stash is a finance app that gives out $20 for anyone who signs up for the Stash (bank) or Stash Invest account via my referral link and deposits at least $5 from any source (payroll, another bank account, PayPal, etc.) So all you have to do is open an account with a referral link, deposit $5, and then the bonus will post to your account!

The app will ask you to open a paid account, but you can simply open a "beginner" account for $1 a month, and then close your account after 1 month after you get your $20 bonus.

referral link- https://get.stashinvest.com/amadeowpr10

Qapital

Qapital is a banking app (iOS/Android) which pays you a $25 bonus for making a $20 deposit from any source. You need to set up a savings goal and a rule to automatically transfer funds to your Qapital savings account (One easy option would be to set up a $5 weekly transfer, so you can quickly qualify for the bonus). They have a monthly membership payment fee(Qapital Basic is $3/month; Qapital Complete is $6/month; and Qapital Master is $12/month.) which is waived for the first month. I would recommend you go for the Qapital Basic plan, as it has the lowest fee at $3 per month.

If you keep your account open for 45 days, maintain a $20 account balance, and make 1 membership payment (the $3 monthly fee), they will credit you with a $20 account bonus. You can then immediately close the account and take your deposit + the bonus out with no additional charges. Even after the fee, that's $17 in free money.

referral link- https://get.qapital.com/SGjU8VhoM4

SkyOne

SkyOne is a credit union which will pay you a $50 bonus for opening a checking account with a referral link, making a $5 opening deposit, and keeping your account open for at least 30 days.

This credit union services the SoCal area, but anyone nationwide can sign up if you follow the steps detailed below. People are normally required to make a donation to a local charity to qualify for a local credit union bank account when they don't live in the area, but SkyOne will actually pay for a donation to the "Surfrider Foundation" themselves because they want everyone on the US to be eligible! In other words, you don't have to spend a dime! Simply click ("None of the above? We've got you! SkyOne will make a one-time donation to one of the following non-profits") on the eligibility page when signing up.

https://refer.skyone.org/amadeoruiu3

Premier Members Credit Union

Premier Members Credit Union is another credit union which will pay you a $50 bonus for opening a money market account with a referral link, and making a $5 opening deposit. They will also require you to open a savings account alongside the money market account, which also requires a $5 opening deposit.

They are located in Boulder Colorado, but will allow anyone to create an account with them as long as you make a $5 donation to one of their local charities (they walk you through it during account signup). That's a total profit of $45!

And you can close the account at any time, fee free!

They will prompt you to indicate if you were referred by someone early in the application, enter my referral code at that step- VFVJEVQQQ.

referral link (please remember to use my referral code during the account setup too)- https://www.pmcu.org/referred-by-a-friend/VFVJEVQQQ/

Stocks-

Webull

Webull is a commission free stock trading platform/app which is giving out 2 free stocks (1 worth $2.50-$250, and another worth $12-$1400) for opening an account via a referral link and making a $100 deposit.

Acorns is available on iOS and Android, or you can use their website.

referral link- https://act.webull.com/kol-us/share.html?hl=en&inviteCode=PUnH4ruayL3j

Public

Public is another commission free stock trading app which gives you a free stock (valued up to $50) when you create an account via a referral link. No initial deposit is required.

Public is available on iOS or Android only.

referral link- http://share.public.com/rayruiu

FirstTrade

FirstTrade is a commission-free stock trading app which gives you a free stock (valued up to $200) when you open an account via a referral link. No initial deposit is required.

FirstTrade is available on iOS or Android only.

referral link- https://share.firstrade.com/MilaAQOK

Dough

Dough is a commission free stock trading app which gives you a free stock (valued $2- $200) when you open an account via a referral link. No initial deposit is required, though you need to deposit $25 in order to make your first withdrawal (you can also withdraw your initial $25 too).

Dough is available for iOS or Android only.

referral link- https://dough.com/referrals?referral=XPSSX6DFNF&referredby=Mila

TradeUp

TradeUP is a commission free stock trading app which gives you a free stock (valued $2.50-250) for opening an account via a referral link. No initial deposit is required.

Additionally, they will give you a second stock (valued $8-$1000) for making a $100 deposit.

TradeUp is available for iOS or Android only.

referral link- https://tradeup.marsco.com/activity/market/us-open-price/#/share?invite=6NDX1U

Robinhood

Robinhood is a stock trading platform/app which gives you a free stock (valued $2.50 - $200) when you open an account via a referral link. No initial deposit is required.

Robinhood is available on iOS and Android, or you can use their website.

referral link- https://invite.robinhood.com/amadeor3/

Acorns

Acorns is an online investing app (iOS or Android) which is offering a free $5 bonus for simply opening an account via a referral link, depositing $5, and keeping the money in the account until August 15th, 2020. You can then withdraw the money and close the account, fee free!

If you keep the account longer, they may charge you a $3 fee so be sure to close it after the 15th on the following month from when you signed up.

Acorns is available on iOS and Android, or you can use their website.

referral link- https://www.acorns.com/invite/TLBCPD/

Moomoo

Moomoo is a commission free stock trading app which gives you a free stock (valued $10-$1000) for opening an account via a referral link and making a $500 deposit.

Moomoo is available on iOS or Android only.

referral link- https://j.moomoo.com/000LR3

M1 Finance

M1 Finance is an investing account, like Robinhood or Webull. It includes zero commission trading, and has a popular subreddit community behind it! If you open an account using a referral link, deposit $100 to a brokerage account, and keep that initial deposit in your account for 30 days, you will get a free $10 bonus that posts to the account within 14 days.

M1 Finance is available on iOS or Android only.

referral link- https://m1.finance/J6aLCt6SRGdW

SoFi Invest

SoFi gives $50 for anyone who signs up for a SoFi Invest account via a referral link and deposits $1000. This offer stacks with the SoFi Money $25 offer (see details below), so you can do both!

Plus, you can get another $25 cash bonus when you buy $10 or more of crypto like Bitcoin, Litecoin or Ethereum. That's a total of $75 cash bonuses with SoFi Invest!

SoFi Invest is available on iOS or Android only

referral link- https://www.sofi.com/share/invest/2498539

E*Trade

E*Trade is one of the biggest stock trading platforms out there, and they are offering new users a cash bonus for opening an account using a referral code and depositing funds. Your cash bonus varies based on how much you deposit, on a tiered basis-

Reward Deposit Amount
$25 $5,000–$9,999
$50 $10,000-$24,999
$200 $25,000–$99,999
$300 $100,000–$249,999
$600 $250,000–$499,999
$1,200 $500,000–$999,999
$2,500 $1,000,000+

referral link- https://refer.etrade.net/amadeoruiu3

Personal Capital

Personal Capital is a finance tracking website similar to Mint but tailored for investment accounts. If you open an account and link a qualified investment account for tracking (e.g. taxable brokerage, 401k, IRA, 529, etc) with more than $1000 in it, they will give you a free $20 amazon gift card within a couple weeks. No deposit required!

Accounts that do not qualify as valid investment accounts include bank, credit or debit card, Paypal, Stash, Acorns, Kapitall, Groundfloor, WageWorks HSA, Coinbase, digital currency exchanges, and manual investment accounts. Robinhood works!

Referral link- https://share.personalcapital.com/x/oGFEyl

Cryptocurrency-

Voyager

Voyager is a crypocurrency trading app (iOS/Android only) which will pay you $25 in free bitcoin for trading $100 on the app! Make sure to use the referral code "AMA60T" in the “Reward Code” field when you create your account. The bonus posts within a couple of days, from my experience.

I would be grateful if you used my referral link-

iOS- https://apps.apple.com/us/app/voyager-buy-bitcoin-crypto/id1396178579

Android- https://play.google.com/store/apps/details?id=com.investvoyager

Donut

Donut is a cryptocurrency investing app (iOS only) which will give you $10 for signing up using a referral link and depositing $10. The deposit is automatically invested in bitcoin. You can sell the bitcoin immediately to avoid any risk. They pay out almost instantly (it took me 5 minutes to get my bonus), and you can withdraw instantly.

So all you have to do is download the app using a referral link, enter my referral ID (@annprod) when prompted, deposit $10, and you should get your $10 bonus within minutes. You can then sell your bitcoin, withdraw your money + the bonus, and close the account fee free if you wish.

https://donut.app.link/annprod/i/CVx0dbRMR

eToro

Etoro is a stock/crypto trading account which is offering users a $50 bonus if they deposit and trade $100. The bonus posts within a week of you making the deposit. You can buy and sell quickly to avoid risk.

You do NOT need to ever invest any of your money into any crypto currencies, so all you have to do is make the deposit, wait a week, and then your $50 bonus will post to your account!

https://etoro.tw/2XH1UdM

Gemini

Gemini is a cryptocurrency trading app/websitewhich will give you $10 worth of bitcoin for signing up using a referral link and buying/selling $100 worth of cryptocurrency.

Unlike the other offers listed here, this one can be used anywhere in the US (except NY), as well as Puerto Rico, Australia, Canada, Hong Kong, Singapore, South Korea, and the United Kingdom. This bonus posts VERY quickly, within a day or two.

https://gemini.com/share/rllzke26

Coinbase

Coinbase is a cryptocurrency trading platform which will pay you $10 in free bitcoin for trading $100 on the platform!

I would be grateful if you used my referral link- https://www.coinbase.com/join/ruiu_8

They will also give you $12 worth of the "Orchid" cryptocurrency (which can be immediately re-sold for cash) if you watch 3 short videos and answer 3 easy questions.

https://coinbase.com/earn/oxt/invite/t0wvs4k2

Credit Cards-

Chase Freedom

Chase will pay you $200 for signing up for a Chase Freedom Unlimited credit card with a referral link and spending $500 it within the first 3 months. This is one of the best credit card bonuses in the industry!

So all you have to do is sign up for a Chase Freedom Unlimited credit card using my referral link, spend $500 within the first 3 months, and then get your $200! You can cancel the card at any time with no fees or penalties.

https://www.referyourchasecard.com/18/ONLMEFPEFJ

Discover IT

Discover will pay you $50 for signing up for a Discover IT credit card with a referral link and making ANY purchase using it within the first 3 months. This is one of the easiest credit card bonuses in the industry!

So all you have to do is sign up for a Discover IT credit card using my referral link, make ANY purchase using it within the first 3 months, and then get your $50! You can cancel the card at any time fee free.

https://refer.discover.com/s/hhti4m

Other-

Root

Root is an auto insurance app(iOS/Android) that will pay you $25 to download their app, let it track your driving for 3-4 weeks, and then offer you an auto insurance policy based on your driving data. You can easily ignore their policy offer, take the bonus, and walk away with the $25 bonus which then then go to your PayPal account, sent as a check, etc.

https://rootbonus.com/AmadeoRuiu

SoFi Loans

SoFi loans is offering a $300 bonus for people who opens a new personal loan or refinance an existing student loan.

You should research the pros and cons of student loan refinancing before you consider this option, The basic rundown is that you can lower your interest rate, but lose some benefits from the federal government. Whether this is worth it to you will be based on your individual circumstances.

There's also the option of taking out a SoFi loan, if you were looking into taking out a loan soon anyway, might be worth considering.

www.sofi.com/share/2498539?src=copy

https://preview.redd.it/emw53o57f6h51.jpg?width=760&format=pjpg&auto=webp&s=c85fa46217d16d35bbabe6e1e1bb07e7749fe39a



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Bitcoin Cash long-term Price Analysis: 15 August (current BTC/USD price is $11,920.73)

Latest Bitcoin News:

Bitcoin Cash long-term Price Analysis: 15 August

Other Related Bitcoin Topics:

Bitcoin Price | Bitcoin Mining | Blockchain

The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.


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Validcc

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Web: Validcc



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Why we need to think more carefully about what money is and how it works

Most of us have overlooked a fundamental problem that is currently causing an insurmountable obstacle to building a fairer and more sustainable world. We are very familiar with the thing in question, but its problematic nature has been hidden from us by a powerful illusion. We think the problem is capitalism, but capitalism is just the logical outcome of aggregate human decisions about how to manage money. The fundamental problem is money itself, or more specifically general purpose money and the international free market which allows you to sell a chunk of rainforest and use the money to buy a soft drink factory. (You can use the same sort of money to sell anything and buy anything, anywhere in the world, and until recently there was no alternative at all. Bitcoin is now an alternative, but is not quite what we are looking for.) The illusion is that because market prices are free, and nobody is forced into a transaction, those prices must be fair – that the exchange is equitable. The truth is that the way the general money globalised free market system works means that even though the prices are freely determined, there is still an unequal flow of natural resources from poor parts of the world to rich parts. This means the poor parts will always remain poor, and resources will continue to accumulate in the large, unsustainable cities in rich countries. In other words, unless we re-invent money, we cannot overturn capitalism, and that means we can't build a sustainable civilisation.

Why does this matter? What use is it realising that general purpose money is at the root of our problems when we know that the rich and powerful people who run this world will do everything in their power to prevent the existing world system being reformed? They aren't just going to agree to get rid of general purpose money and economic globalisation. It's like asking them to stop pursuing growth: they can't even imagine how to do it, and don't want to. So how does this offer us a way forwards?

Answer: because the two things in question – our monetary system and globalisation – look like being among the first casualties of collapse. Globalisation is already going into reverse (see brexit, Trump's protectionism) and our fiat money system is heading towards a debt/inflation implosion.

It looks highly likely that the scenario going forwards will be of increasing monetary and economic chaos. Fiat money systems have collapsed many times before, but never a global system of fiat currencies floating against each other. But regardless of how may fiat currencies collapse, or how high the price of gold goes in dollars, it is not clear what the system would be replaced with. Can we just go back to the gold standard? It is possible, but people will be desperately looking for other solutions, and the people in power might also be getting desperate.

So what could replace it? What is needed is a new sort of money system which both

(a) addresses the immediate economic problems of people suffering from symptoms of economic and general collapse and

(b) provides a long-term framework around which a new sort of economy can emerge – an economy which is adapted to deglobalisation and degrowth.

I have been searching for answers to this question for some time, and have now found what I was looking for. It is explained in this recently published academic book, and this paper by the same professor of economic anthropology (Alf Hornborg). The answer is the creation of a new sort of money, but it is critically important exactly how this is done. Local currencies like the Bristol Pound do not challenge globalisation. What we need is a new sort of national currency. This currency would be issued as a UBI, but only usable to buy products and services originating within an adjustable radius. This would enable a new economy to emerge. It actually resists globalisation and promotes the growth of a new sort of economy where sustainability is built on local resources and local economic activity. It would also reverse the trend of population moving from poor rural areas and towns, to cities. It would revitalise the “left behind” parts of the western world, and put the brakes on the relentless flow of natural resources and “embodied cheap labour” from the poor parts of the world to the rich parts. It would set the whole system moving towards a more sustainable and fairer state.

This may sound unrealistic, but please give it a chance. I believe it offers a way forwards that can

(a) unite disparate factions trying to provoke systemic change, including eco-marxists, greens, posthumanists and anti-globalist supporters of “populist nationalism”. The only people who really stand to lose are the supporters of global big business and the 1%.

(b) offers a realistic alternative to a money system heading towards collapse, and to which currently no other realistic alternative is being proposed.

In other words, this offers a realistic way forwards not just right now but through much of the early stages of collapse. It is likely to become both politically and economically viable within the forseeable future. It does, though, require some elements of the left to abandon its globalist ideals. It will have to embrace a new sort of nationalism. And it will require various groups who are doing very well out of the current economic system to realise that it is doomed.

Here is an FAQ (from the paper).

What is a complementary currency? It is a form of money that can be used alongside regular money.

What is the fundamental goal of this proposal? The two most fundamental goals motivating thisproposal are to insulate local human subsistence and livelihood from the vicissitudes of nationaland international economic cycles and financial speculation, and to provide tangible and attractiveincentives for people to live and consume more sustainably. It also seeks to provide authoritieswith a means to employ social security expenditures to channel consumption in sustainabledirections and encourage economic diversity and community resilience at the local level.

Why should the state administrate the reform? The nation is currently the most encompassingpolitical entity capable of administrating an economic reform of this nature. Ideally it is alsosubservient to the democratic decisions of its population. The current proposal is envisaged as anoption for European nations, but would seem equally advantageous for countries anywhere. Ifsuccessfully implemented within a particular nation or set of nations, the system can be expectedto be emulated by others. Whereas earlier experiments with alternative currencies have generallybeen local, bottom-up initiatives, a state-supported program offers advantages for long-termsuccess. Rather than an informal, marginal movement connected to particular identities andtransient social networks, persisting only as long as the enthusiasm of its founders, thecomplementary currency advocated here is formalized, efficacious, and lastingly fundamental toeveryone's economy.

How is local use defined and monitored? The complementary currency (CC) can only be used topurchase goods and services that are produced within a given geographical radius of the point ofpurchase. This radius can be defined in terms of kilometers of transport, and it can vary betweendifferent nations and regions depending on circumstances. A fairly simple way of distinguishinglocal from non-local commodities would be to label them according to transport distance, much asis currently done regarding, for instance, organic production methods or "fair trade." Suchtransport certification would of course imply different labelling in different locales.

How is the complementary currency distributed? A practical way of organizing distribution wouldbe to provide each citizen with a plastic card which is electronically charged each month with thesum of CC allotted to him or her.

Who are included in the category of citizens? A monthly CC is provided to all inhabitants of anation who have received official residence permits.

What does basic income mean? Basic income is distributed without any requirements or duties tobe fulfilled by the recipients. The sum of CC paid to an individual each month can be determinedin relation to the currency's purchasing power and to the individual's age. The guiding principleshould be that the sum provided to each adult should be sufficient to enable basic existence, andthat the sum provided for each child should correspond to the additional household expenses itrepresents.

Why would people want to use their CC rather than regular money? As the sum of CC providedeach month would correspond to purchases representing a claim on his or her regular budget, thebasic income would liberate a part of each person's regular income and thus amount to substantialpurchasing power, albeit restricted only to local purchases. The basic income in CC would reducea person's dependence on wage labor and the risks currently associated with unemployment. Itwould encourage social cooperation and a vitalization of community.

Why would businesses want to accept payment in CC? Business entrepreneurs can be expected torespond rapidly to the radically expanded demand for local products and services, which wouldprovide opportunities for a diverse range of local niche markets. Whether they receive all or onlya part of their income in the form of CC, they can choose to use some of it to purchase tax-freelocal labor or other inputs, and to request to have some of it converted by the authorities to regularcurrency (see next point).

How is conversion of CC into regular currency organized? Entrepreneurs would be granted theright to convert some of their CC into regular currency at exchange rates set by the authorities.The exchange rate between the two currencies can be calibrated so as to compensate theauthorities for loss of tax revenue and to balance the in- and outflows of CC to the state. The ratewould thus amount to a tool for determining the extent to which the CC is recirculated in the localeconomy, or returned to the state. This is important in order to avoid inflation in the CC sector.

Would there be interest on sums of CC owned or loaned? There would be no interest accruing ona sum of CC, whether a surplus accumulating in an account or a loan extended.

How would saving and loaning of CC be organized? The formal granting of credit in CC wouldbe managed by state authorities and follow the principle of full reserve banking, so that quantitiesof CC loaned would never exceed the quantities saved by the population as a whole.

Would the circulation of CC be subjected to taxation? No.

Why would authorities want to encourage tax-free local economies? Given the beneficial socialand ecological consequences of this reform, it is assumed that nation states will represent thegeneral interests of their electorates and thus promote it. Particularly in a situation with risingfiscal deficits, unemployment, health care, and social security expenditures, the proposed reformwould alleviate financial pressure on governments. It would also reduce the rising costs oftransport infrastructure, environmental protection, carbon offsetting, and climate changeadaptation. In short, the rising costs and diminishing returns on current strategies for economicgrowth can be expected to encourage politicians to consider proposals such as this, as a means ofavoiding escalating debt or even bankruptcy.

How would the state's expenditures in CC be financed? As suggested above, much of theseexpenditures would be balanced by the reduced costs for social security, health care, transportinfrastructure, environmental protection, carbon offsetting, and climate change adaptation. Asthese savings may take time to materialize, however, states can choose to make a proportion oftheir social security payments (pensions, unemployment insurance, family allowance, etc.) in theform of CC. As between a third and half of some nations' annual budgets are committed to socialsecurity, this represents a significant option for financing the reform, requiring no correspondingtax levies.

What are the differences between this CC and the many experiments with local currencies? Thisproposal should not be confused with the notion, or with the practical operation, of localcurrencies, as it does not imply different currencies in different locales but one national,complementary currency for local use. Nor is it locally initiated and promoted in opposition to theregular currency, but centrally endorsed and administrated as an accepted complement to it. Mostimportantly, the alternative currency can only be used to purchase products and servicesoriginating from within a given geographical range, a restriction which is not implemented inexperiments with Local Exchange Trading Systems (LETS). Finally, the CC is provided as a basicincome to all residents of a nation, rather than only earned in proportion to the extent to which aperson has made him- or herself useful in the local economy.

What would the ecological benefits be? The reform would radically reduce the demand for long-distance transport, the production of greenhouse gas emissions, consumption of energy andmaterials, and losses of foodstuffs through overproduction, storage, and transport. It wouldincrease recycling of nutrients and packaging materials, which means decreasing leakage ofnutrients and less garbage. It would reduce agricultural intensification, increase biodiversity, anddecrease ecological degradation and vulnerability.

What would the societal benefits be? The reform would increase local cooperation, decreasesocial marginalization and addiction problems, provide more physical exercise, improve psycho-social and physical health, and increase food security and general community resilience. It woulddecrease the number of traffic accidents, provide fresher and healthier food with lesspreservatives, and improved contact between producers and consumers.

What would the long-term consequences be for the economy? The reform would no doubtgenerate radical transformations of the economy, as is precisely the intention. There would be asignificant shift of dominance from transnational corporations founded on financial speculationand trade in industrially produced foodstuffs, fuels, and other internationally transported goods tolocally diverse producers and services geared to sustainable livelihoods. This would be ademocratic consequence of consumer power, rather than of legislation. Through a relativelysimple transformation of the conditions for market rationality, governments can encourage newand more sustainable patterns of consumer behavior. In contrast to much of the drastic and oftentraumatic economic change of the past two centuries, these changes would be democratic andsustainable and would improve local and national resilience.

Why should society want to encourage people to refrain from formal employment? It isincreasingly recognized that full or high employment cannot be a goal in itself, particularly if itimplies escalating environmental degradation and energy and material throughput. Well-foundedcalls are thus currently made for degrowth, i.e. a reduction in the rate of production of goods andservices that are conventionally quantified by economists as constitutive of GDP. Whether formalunemployment is the result of financial decline, technological development, or intentional policyfor sustainability, no modern nation can be expected to leave its citizens economically unsupported. To subsist on basic income is undoubtedly more edifying than receiving unemployment insurance; the CC system encourages useful community cooperation and creative activities rather than destructive behavior that may damage a person's health.

Why should people receive an income without working? As observed above, modern nations willprovide for their citizens whether they are formally employed or not. The incentive to findemployment should ideally not be propelled only by economic imperatives, but more by the desireto maintain a given identity and to contribute creatively to society. Personal liberty would beenhanced by a reform which makes it possible for people to choose to spend (some of) their timeon creative activities that are not remunerated on the formal market, and to accept the tradeoffimplied by a somewhat lower economic standard. People can also be expected to devote a greaterproportion of their time to community cooperation, earning additional CC, which means that theywill contribute more to society – and experience less marginalization – than the currentlyunemployed.

Would savings in CC be inheritable? No.

How would transport distances of products and services be controlled? It is reasonable to expectthe authorities to establish a special agency for monitoring and controlling transport distances. Itseems unlikely that entrepreneurs would attempt to cheat the system by presenting distantlyproduced goods as locally produced, as we can expect income in regular currency generally to bepreferable to income in CC. Such attempts would also entail transport costs which should makethe cargo less competitive in relation to genuinely local produce, suggesting that the logic of localmarket mechanisms would by and large obviate the problem.

How would differences in local conditions (such as climate, soils, and urbanism) be dealt with?It is unavoidable that there would be significant variation between different locales in terms of theconditions for producing different kinds of goods. This means that relative local prices in CC for agiven product can be expected to vary from place to place. This may in turn mean thatconsumption patterns will vary somewhat between locales, which is predictable and notnecessarily a problem. Generally speaking, a localization of resource flows can be expected toresult in a more diverse pattern of calibration to local resource endowments, as in premoderncontexts. The proposed system allows for considerable flexibility in terms of the geographicaldefinition of what is categorized as local, depending on such conditions. In a fertile agriculturalregion, the radius for local produce may be defined, for instance, as 20 km, whereas in a lessfertile or urban area, it may be 50 km. People living in urban centers are faced with a particularchallenge. The reform would encourage an increased production of foodstuffs within and in thevicinity of urban areas, which in the long run may also affect urban planning. People might alsochoose to move to the countryside, where the range of subsistence goods that can be purchasedwith CC will tend to be greater. In the long run, the reform can be expected to encourage a betterfit between the distribution of resources (such as agricultural land) and demography. This is fullyin line with the intention of reducing long-distance transports of necessities.

What would the consequences be if people converted resources from one currency sphere intoproducts or services sold in another? It seems unfeasible to monitor and regulate the use ofdistant imports (such as machinery and fuels) in producing produce for local markets, but asproduction for local markets is remunerated in CC, this should constitute a disincentive to investregular money in such production processes. Production for local consumption can thus beexpected to rely mostly – and increasingly – on local labor and other resource inputs.

​



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Dirty Dozen Tax Scams: 2020 Edition

The "Dirty Dozen" is a list of common tax scams that target taxpayers. Compiled and issued annually every year by the IRS, this year it includes many aggressive and evolving schemes related to coronavirus tax relief, including Economic Impact Payments. The criminals behind these bogus schemes view everyone as potentially easy prey and everyone should be on guard, especially vulnerable populations such as the elderly.

While tax-related scams usually increase at tax time, this year, scam artists are using pandemic to try stealing money and information from honest taxpayers. As such, taxpayers should refrain from engaging potential scammers online or on the phone.

Here are this year's "Dirty Dozen" tax scams:

1. Phishing

Taxpayers should be alert to potential fake emails or websites looking to steal personal information. IRS Criminal Investigation has seen a tremendous increase in phishing schemes utilizing emails, letters, texts, and links. These phishing schemes are using keywords such as "coronavirus," "COVID-19" and "Stimulus" in various ways.

These schemes are blasted to large numbers of people to get personal identifying information or financial account information, including account numbers and passwords. Most of these new schemes are actively playing on the fear and unknown of the virus and the stimulus payments.

Don't click on links claiming to be from the IRS and be very wary of emails and websites as they may be nothing more than scams to steal personal information. As a reminder, the IRS will never initiate contact with taxpayers via email about a tax bill, refund or Economic Impact Payments.

2. Fake Charities

Criminals frequently exploit natural disasters and other situations such as the current COVID-19 pandemic by setting up fake charities to steal from well-intentioned people trying to help in times of need. Fake charity scams generally rise during disaster times like these.

Fraudulent schemes normally start with unsolicited contact by telephone, text, social media, e-mail, or in-person using a variety of tactics. Bogus websites use names similar to legitimate charities to trick people to send money or provide personal financial information. They may even claim to be working for or on behalf of the IRS to help victims file casualty loss claims and get tax refunds.

Taxpayers should be particularly wary of charities with names like nationally known organizations. Legitimate charities will provide their Employer Identification Number (EIN) if requested, which can be used to verify their legitimacy. Taxpayers can find legitimate and qualified charities using the search tool on IRS.gov.

3. Threatening Impersonator Phone Calls

IRS impersonation scams come in many forms such as receiving threatening phone calls from a criminal claiming to be with the IRS where the scammer attempts to instill fear and urgency in the potential victim. These types of phone scams or "vishing" (voice phishing) pose a major threat. Scam phone calls, including those threatening arrest, deportation or license revocation if the victim doesn't pay a bogus tax bill, are reported to the IRS year-round and are very common. These calls often take the form of a "robocall" (a text-to-speech recorded message with instructions for returning the call).

The fact is, the IRS will never threaten a taxpayer or surprise him or her with a demand for immediate payment. Nor will it threaten, ask for financial information over the phone, or call about an unexpected refund or Economic Impact Payment. Taxpayers should contact the real IRS or consult a tax and accounting professional if they are worried there is a tax problem.

4. Social Media Scams

Social media enables anyone to share information with anyone else on the Internet. Scammers use that information as ammunition for a wide variety of scams. As such, taxpayers need to protect themselves against social media scams, which frequently use events like COVID-19 to try tricking people. These methods of trickery include emails where scammers impersonate someone's family, friends or co-workers.

Social media scams have also led to tax-related identity theft. The basic element of social media scams is convincing a potential victim that he or she is dealing with a person close to them that they trust via email, text or social media messaging.

Using personal information, a scammer may email a potential victim and include a link to something of interest to the recipient which contains malware intended to commit more crimes. Scammers also infiltrate their victim's emails and cell phones to go after their friends and family with fake emails that appear to be real and text messages soliciting, for example, small donations to fake charities that are appealing to the victims.

5. Economic Impact Payment or Refund Theft

Great strides have been made against refund fraud and theft in recent years, but they remain an ongoing threat. Due to the corona virus pandemic, this year, criminals turned their attention to stealing Economic Impact Payments as provided by the Corona virus Aid, Relief, and Economic Security (CARES) Act. Much of this stems from identity theft whereby criminals file false tax returns or supply other bogus information to the IRS to divert refunds to wrong addresses or bank accounts.

Recent victims of this type of scam include residents of nursing homes and other care facilities when concerns were raised that people and businesses may be taking advantage of vulnerable populations who received the payments. Economic Impact Payments generally belong to the recipients, not the organizations providing the care.

As a reminder, economic impact payments do not count as a resource for determining eligibility for Medicaid and other federal programs they also do not count as income in determining eligibility for these programs.

6. Senior Citizen Fraud

Seniors are more likely to be targeted and victimized by scammers than other segments of society and fraud targeting older Americans is pervasive. Financial abuse of seniors is a problem among personal and professional relationships but seems to be less of a problem when the service provider knows that a trusted friend or family member is keeping an eye out and taking an interest in the senior's affairs.

Also, as older Americans become more comfortable with evolving technologies, such as social media, scammers have moved in to take advantage. Phishing scams linked to Covid-19, for example, have been a major threat this filing season. Seniors need to be alert for a continuing surge of fake emails, text messages, websites, and social media attempts to steal personal information.

7. Scams Targeting Non-English Speakers

IRS impersonators and other scammers also target groups with limited English proficiency. These scams target those potentially receiving an Economic Impact Payment and request personal or financial information from the taxpayer.

Phone scams are often threatening in nature and pose a major threat to people with limited access to information, including individuals not entirely comfortable with the English language. These calls frequently take the form of a "robocall" (a text-to-speech recorded message with instructions for returning the call), but in some cases may be made by a real person. These con artists may have some of the taxpayer's information, including their address, the last four digits of their Social Security number or other personal details, which make the phone calls, seem more legitimate.

One of the most common scams is the IRS impersonation scam where a taxpayer receives a telephone call threatening jail time, deportation or revocation of a driver's license from someone claiming to be with the IRS. Taxpayers who are recent immigrants often are the most vulnerable and should ignore these threats and not engage the scammers.

8. "Ghost" Tax Return Preparers

Selecting the right return preparer is important because they are entrusted with a taxpayer's sensitive personal data. Most tax professionals provide honest, high-quality service, but dishonest preparers pop up every filing season committing fraud, harming innocent taxpayers or talking taxpayers into doing illegal things they regret later.

Taxpayers should always avoid so-called "ghost" preparers who expose their clients to potentially serious filing mistakes as well as possible tax fraud and risk of losing their refunds. With many tax professionals impacted by COVID-19 and their offices potentially closed, taxpayers should take particular care in selecting a credible tax preparer.

Ghost preparers don't sign the tax returns they prepare. They may print the tax return and tell the taxpayer to sign and mail it to the IRS. For e-filed returns, the ghost preparer will prepare but not digitally sign as the paid preparer. By law, anyone who is paid to prepare or assists in preparing federal tax returns must have a Preparer Tax Identification Number (PTIN). Paid preparers must sign and include their PTIN on returns.

Unscrupulous preparers may also target those without a filing requirement and may or may not be due to a refund. They promise inflated refunds by claiming fake tax credits, including education credits, the Earned Income Tax Credit (EITC), and others. Taxpayers should avoid preparers who ask them to sign a blank return, promise a big refund before looking at the taxpayer's records or charge fees based on a percentage of the refund.

Taxpayers are ultimately responsible for the accuracy of their tax return, regardless of who prepares it.

9. Offer in Compromise (OIC) Mills

Taxpayers need to be wary of misleading tax debt resolution companies that can exaggerate chances to settle tax debts for "pennies on the dollar" through an Offer in Compromise (OIC). These offers are available for taxpayers who meet very specific criteria under the law to qualify for reducing their tax bill. But unscrupulous companies oversell the program to unqualified candidates so they can collect a hefty fee from taxpayers already struggling with debt.

These scams are commonly called OIC "mills," which cast a wide net for taxpayers, charge them pricey fees and churn out applications for a program they're unlikely to qualify for. Although the OIC program helps thousands of taxpayers each year reduce their tax debt, not everyone qualifies for an OIC. In Fiscal Year 2019, there were 54,000 OICs submitted to the IRS. The agency accepted 18,000 of them.

10. Fake Payments with Repayment Demands

Criminals are always finding new ways to trick taxpayers into believing their scam including putting a bogus refund into the taxpayer's actual bank account. Here's how the scam works:

A con artist steals or obtains a taxpayer's data including Social Security number or Individual Taxpayer Identification Number (ITIN) and bank account information. The scammer files a bogus tax return and has the refund deposited into the taxpayer's checking or savings account. Once the direct deposit hits the taxpayer's bank account, the fraudster places a call to them, posing as an IRS employee. The taxpayer is told that there's been an error and that the IRS needs the money returned immediately or penalties and interest will result. The taxpayer is told to buy specific gift cards for the amount of the refund.

The IRS will never demand payment by a specific method. There are many payment options available to taxpayers and there's also a process through which taxpayers have the right to question the amount of tax we say they owe. Anytime a taxpayer receives an unexpected refund and a call from us out of the blue demanding a refund repayment, they should reach out to their banking institution and the IRS.

11. Payroll and HR Scams

Tax professionals, employers, and taxpayers need to be on guard against phishing designed to steal Form W-2s and other tax information. These are Business Email Compromise (BEC) or Business Email Spoofing (BES). This is particularly true with many businesses closed and their employees working from home due to COVID-19. Currently, two of the most common types of these scams are the gift card scam and the direct deposit scam.

Gift card scam. In the gift card scam, a compromised email account is often used to send a request to purchase gift cards in various denominations.

Direct deposit scam. In the direct deposit scheme, the fraudster may have access to the victim's email account (also known as an email account compromise or "EAC"). They may also impersonate the potential victim to have the organization change the employee's direct deposit information to reroute their deposit to an account the fraudster controls.

BEC/BES scams have used a variety of ploys to include requests for wire transfers, payment of fake invoices as well as others. In recent years, the IRS has observed variations of these scams where fake IRS documents are used to lend legitimacy to the bogus request. For example, a fraudster may attempt a fake invoice scheme and use what appears to be a legitimate IRS document to help convince the victim.

The Direct Deposit and other BEC/BES variations should be forwarded to the Federal Bureau of Investigation Internet Crime Complaint Center (IC3) where a complaint can be filed. The IRS requests that Form W-2 scams be reported to phishing@irs.gov (Subject: W-2 Scam).

12. Ransomware

Ransomware is malware targeting human and technical weaknesses to infect a potential victim's computer, network, or server and is a rapidly growing cybercrime. It doesn't just affect individuals either. Recently, Garmin Ltd., a GPS, and fitness-tracker company was the victim of a ransomware attack and asked to pay $10 million in "ransom" to restore its systems.

Malware is a form of invasive software that is often frequently inadvertently downloaded by the user. Once downloaded, it tracks keystrokes and other computer activity. Once infected, ransomware looks for and locks critical or sensitive data with its encryption. In some cases, entire computer networks can be adversely impacted.

Victims generally aren't aware of the attack until they try to access their data, or they receive a ransom request in the form of a pop-up window. These criminals don't want to be traced so they frequently use anonymous messaging platforms and demand payment in virtual currency such as Bitcoin.

Cybercriminals might use a phishing email to trick a potential victim into opening a link or attachment containing the ransomware. These may include email solicitations to support a fake COVID-19 charity. Cybercriminals also look for system vulnerabilities where human error is not needed to deliver their malware.

If you think you've been a victim of a tax scam, please contact the office immediately.

For More Information Visit: http://www.avyantax.com/


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US Federal Reserve Reveals Building a Digital Dollar Codebase With MIT (current BTC/USD price is $11,883.45)

Latest Bitcoin News:

US Federal Reserve Reveals Building a Digital Dollar Codebase With MIT

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Bitcoin Price | Bitcoin Mining | Blockchain

The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.


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