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HASHGRAPH vs. BLOCKCHAIN

Swirld.com

Hello Everyone!

Today we’re going to share with you a technology that has emerged that in our opinion will replace Blockchain technology.  It’s called Hashgraph.  Listed below are several important interviews / discussions on this new Distributed Ledger Technology (DLT).  We would highly recommend you listen to these and get familiar with this technology, as this is (in our opinion) going to be the new technology platform standard for the foreseeable future.

Over the past few months, we have learned through our research, that Bitcoin is unsustainable in its current platform using blockchain technology.  The experts below can explain the reasons why far better than we can.  So we encourage you to be patient, listen, and learn just as we are doing and will continue to do.  This first informative VIDEO is presented by Dr. Steve Pieczenk (MD and PhD who also  served under 5 U.S. President Administrations in the State Department), articulates quite clearly in  5-6 minutes “why” Bitcoin is not sustainable as a global currency:

This second video is a little lengthy yet very well done, more detailed, and begins with presenting the promises of Bitcoin and blockchain technology.  However, as this experienced investor/researcher discovers in furthering his research, there are serious limitations with Bitcoin and the Blockchain technology platform it’s based on.  Take a listen:

So, you want to know more about Hashgraph?  Below are several discussions and sources to listen to and research.  The founders and “Heavy Hitters” and master minds behind this technology of Hashgraph, are Leemon Baird & Mance Harmon.  Together they formed  SWIRLDS.  Check out their website and interviews available online.

This discussion below is with a group of Swirld’s key, yet few employees in an event in late 2017 hosted by Demetri Kofinas of Hidden Forces.

Below is Leemon Baird, the developer of Hashgraph and Co-Founder of Swirld, talking about this next evolution of technology that will revolutionize cryptocurrencies, the internet and the way we use technology in the world today and in the future.  Take a listen:

Below is another presentation on the Hashgraph technology by Leemon Baird PhD.

We hope you will find this post helpful and insightful.  This technology is extremely powerful with many, many applications and implications on how we are going to exchange, share and manage data and information in the future.  As we always state, do your own research and analysis.  Don’t rely on what we say or present.  We’re simply trying to bring to light information that we find to be of interest and value, and want to share with our clients and readers.

GMS BUSINESS CONSULTING – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

 

GMS Business Consulting No Comments

BITCOIN & CRYPTO CURRENCIES

Good Morning Readers!  So…is Bitcoin here to stay?  Is it a legitimate currency or is it simply another fiat or fad currency?  We have been researching and discussing the craze and issues surrounding Bitcoin and crypto currencies, and wanted to share what we learned with you.  It seems that everyday people we speak with tend to have many of the same questions…such as:

  • How does it work?  (Click HERE for a basic introduction to Bitcoin)
  • Is it a real and viable currency?
  • Is it a bubble?
  • Is is sustainable?
  • What backs this and other crypto currencies?
  • Will crypto currencies put the banks out of business?
  • Should I invest in crypto currencies?
  • Is it safe?

Trying to answer all these questions isn’t possible in one post.  Rather we simply want to address these questions, but from a broad or macro spectrum.  Listed below are a few links from some pretty smart people who have a good understanding of the economic, financial, geo-political and social perspectives who also share their thoughts on crypto currencies.  Just take some time and listen to what they have to share.  You don’t have to take their word for it, just balance what they’re presenting and addressing and compare it to the many, many crypto currency proponents out there in order to get a more balanced view.  That’s all…  So, take a listen to these interviews (some of these interviews cover a multitude of economic areas other than crypto currencies, but what they have to say in these other areas shape their views on crypto currencies.  Then we’ll highlight a few of our own points to consider further down in our post:

CAUTIOUS PERSPECTIVES ON BITCOIN AND CRYPTO CURRENCIES:

POINT #1 – There are so many questions and issues related to Bitcoin and crypto currencies as to whether or not they’re a legitimate form of currency.  Before we go any further in expressing our opinions, let me be very, very clear on this…  GMS Business Consulting, Inc. is NOT an investment advisory firm. We do NOT give clients investment advice…period.  We provide business advice and are compensated for providing business advisory services and guidance. Because we have financial backgrounds at international investment firms and international consulting firms, we are simply choosing to exercise our freedom of speech by expressing our OPINIONS on various sorts of issues, events, and matters including Bitcoin and crypto currencies to our readers.

So…our short answer as to whether or not Bitcoin is a legitimate currency or not is…in our opinion is…yes, it’s “currently” a legitimate yet limited form of currency as evidenced by some businesses and individuals accepting Bitcoin as a form of payment for goods and services provided.  That said, this crypto currency has never been tested in a financial crisis nor can it be “directly” purchased or redeemed at your local bank (yet).  You can purchase crypto currencies directly through a crypto wallet (such as Coinbase) by using your bank account or debit card/credit card to purchase the crypto currency itself and storing it in your crypto wallet.  However your local bank doesn’t currently “issue/sell/redeem” Bitcoin.  Once you have the crypto currency in your crypto wallet, you may then use these to pay for products and services from businesses who accept Bitcoin or other crypto currencies for payment.  The funds used to purchase crypto currencies do come directly from your bank account in the form of U.S. dollars (or whatever your local currency is such as euro’s/ sterling/etc.), and the crypto currency can then be sold and stored in your crypto wallet to purchase other crypto currencies such as Ethereum or Litecoin…or… the proceeds may be converted back into your local currency and redeposited back into your local bank account.

POINT #2 – Now…as far as “investing” in crypto’s is concerned, there is no doubt that many, many individuals have made a lot of money investing and trading these crypto currencies over the last few years, especially in 2017.  That said, many, many people will lose a lot of money as well investing/trading Bitcoin and others, just as many individuals made and lost money in the .com bubble and the real estate bubbles.  Both of those bubbles had viable companies and assets, but many companies were not viable or they increased to such highly inflated values with nothing to to back their valuations, resulting in their downfall.  Did some .com companies and real estate survive the 2008 financial crisis and still exist today?  Of course some survived and thrived!  But not all survived nor made money.  Given that crypto currencies are relatively new, untested, highly volatile and to a great extent still somewhat of a mystery as to how they actually work and what backs the value of these crypto’s at the end of the day, we would approach investing in crypto’s with caution.  Invest only what you could afford to lose.

POINT #3 – As far as “trading” crypto currencies, it all comes down to buying low and selling high…it’s about TIMING!  It’s about “when” you buy and when you sell.  If you don’t have knowledge about the investment vehicle you’re trading AND a discipline to manage your trading, then you’re simply gambling your money blindly with the hopes and dreams of making money.  It’s called greed…  As humans, we tend to be motivated by two emotional states of mind…greed and fear.  Right now, 9 years after the real estate bubble, and 16 years after the .com bubble, many people have forgotten the the golden rules…the principles of investing…buy low, sell high.  The question is…how high will Bitcoin and other crypto currencies go?  Nobody knows!  If you believe you have an adequate knowledge of crypto currencies and the discipline to successfully trade these crypto currencies, then by all means exercise your freedom to do so.  If you don’t have either one, then I  would make three recommendations:

  1. Get informed on both sides (research the pro’s and cons/risks of investing in crypto currencies) from knowledgable, experienced sources, and…
  2. Implement a disciplined investing/trading system to identify changes in the momentum of the particular crypto currency you’re interested in investing or trading, and lastly…
  3. Invest only what you can afford to lose…period.  As mentioned before…these crypto currencies have NOT been tested in a financial crisis.

POINT # 4 – When it comes to really understanding the mechanics of crypto currencies, I still have not seen nor heard a “clear” definitive description or seen a diagram adequately explaining just how these actually work, (terms such as “distributed ledgers” and “blockchain” technology etc.)  How do they really work?  We’ve read the definitions, but even with our financial and consulting backgrounds, it’s still challenging to comprehend the meaning and processes involved given that the definitions are filled with crypto coding language to decipher in order to understand a single point in the definition itself!  Could YOU describe these terms to your colleagues so that they really understand how they work?  Can you explain it to the average person on the street in detail that perhaps even to a high school student to understand?  Or…are they so complex that only coders may understand?  That was the problem with derivatives… People could use the lingo, but they really had no idea of how they actually worked.  In my view, if you can’t explain it in plain…clear…English, then the person describing it really doesn’t understand it either.

POINT #5 – What actually backs these crypto currencies?  Other worthless forms of fiat currencies?  In a melt-down or an extreme loss of confidence, what is actually protecting and backing the value of this currency?  Who is backing it?  Enough said about that…

POINT #6 – Also, please consider the following points related to Bitcoin and crypto currencies:

  • If you believe investing or trading in crypto currencies will not become controlled and regulated by Wall Street and the central bankers of the world, the IMF or the BIS…think again.
  • If you believe Wall Street and the central bankers of this world are going to hand over or transfer their oversight/regulation/money-making control and power of international banking to unregulated crypto currencies to the individual or to the wild west internet?…think again.
  • If you believe Bitcoin or these crypto currencies can continue increasing in value without revaluations/corrections etc…think again and don’t forget the lessons of history.

POINT #7 – All that said, in this post, we’re simply wanted to present the cautionary-side of Bitcoin and crypto currencies by some very seasoned professionals with different backgrounds, and to give you some food for thought before jumping on the bandwagon of crypto currencies.  We wanted to provide the cautionary side because there are dozens and dozens of people singing only the praises of Bitcoin and other crypto currencies.  As mentioned earlier, you can watch dozens and dozens of people endorsing crypto currencies all over the internet.  And who knows, they may be spot-on with their research and analysis, but many are simply trying to sell you something without explaining the downside risks or providing a sound foundation of information for the individual.  We’re not concerned with Wall Street or the central bankers or the individuals who have already made their fortune by investing on the ground floor of these crypto currencies.  We’re mostly concerned about the average person, professional or laborer, who works hard for their money trying to make a living, and are considering crypto currencies.

POINT # 8 – Lastly, we do believe crypto currencies and blockchain technology are here to stay, but not in their current state…  Whether we like them or not, they’re part of our future in one form or another.  The issue is how will these crypto currencies be valued, protected, backed, as well as, how and who will regulate them?  Which of these will survive?   Have you considered that perhaps the central banks of the world, the IMF or the BIS are in the process of creating their own crypto currencies?  Do you think they haven’t been exploring this already?  Our thoughts and recommendations are simply to do your own research, speak with your investment adviser, and then proceed with caution.  We hope this post is of value to you because you are valuable to us…  Keep an eye out for our upcoming post in a few weeks about Hashgraph…will it replace blockchain technology?

GMS BUSINESS CONSULTING – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

 

GMS Business Consulting No Comments

Apple – Lacks Supplier Oversight

MacRumors.com

Photo from: https://cdn.macrumors.com/article-new/2015/02/iphone75colors-800×438.jpg?retina

Good Morning Everyone:

Just a brief post we wanted to share with you…that we believe you would want to know about.  This post is to highlight the lack of oversight by Apple Inc. with regard to the poor working and living conditions for employees at one of Apple’s key manufacturing suppliers.  This is a situation that should be non-existent when it comes to the worlds largest market capitalized corporation in the world.  A company that does so many things well, yet completely misses the mark when it comes to addressing the fair treatment of their manufacturing supplier’s employees overseas.  Why?  What’s the reason for this?  This VIDEO as presented, reported and seen on Bloomberg News, shows one of Apple’s key manufacturing suppliers in China by the name of “Catcher Technology” (the manufacturer for the iPhone’s brushed metal casing), exhibiting deplorable working and living conditions for its employees!  This component…the iPhone casing is one of the largest if not the single largest component of the iPhone!  Is this too much of a challenge for Apple to address with its suppliers?  May I be so bold as to present three simple solutions that would eliminate this situation with all of their key suppliers:

  1. First, in all contract negotiations with foreign suppliers, Apple needs to set the standards for employee working and living conditions similar to what would be set here in the U.S.  Anything less would be taking advantage of these contracted employees from a human dignity standpoint.  Of course these workers will be paid less as their cost of living is less, but the “working and living conditions” should be established and implemented according to Apple’s standards.  The incremental cost should be easily negotiated and absorbed by both Apple and their supplier.  AND
  2. To hold unscheduled/unannounced on-site visits, documentation and interviews (including video interviews and site locations of working and living conditions…all done on iPhones to be directly uploaded to Apple Inc.) by an independent 3rd party at each key manufacturing supplier on a monthly basis.  This will allow the supply chain management team to view, analyze and remedy any potential adverse employee living and working conditions before they become problematic and in accordance with U.S. standards.  OR…
  3. Assign 2-3 full-time Apple employees at each of their key manufacturing supplier facility to perform the same tasks listed above to remedy any potential adverse employee living and working conditions before they become problematic, and in accordance with U.S. standards (as well as perform other supply chain optimization and intelligence gathering that would be beneficial to Apple’s executive management).

Is there any reasonable explanation for this lack of oversight?  With billions of dollars in revenue, and all the technological, logistical and managerial capabilities that Apple Inc has at its disposal, you would think they would have the ability to address these issues with EACH of their key suppliers at the onset of contract negotiations.  Perhaps we’re wrong?  What would it take for Apple to remedy these situations?  Perhaps if each potential buyer of Apple products were to see this VIDEO…before making their purchase, would it influence their purchasing decisions regarding Apple products?  Would it get Apple’s attention then?  I personally have been a supporter of Apple products for over two decades.  However, after seeing the conditions of this one “key” manufacturing supplier, it’s hard to ignore and not let this influence how I view Apple (the corporation), and its dedication to upholding humane, decent employee working and living conditions of its key suppliers employees.  In producing this VIDEO, Bloomberg News sent one of their own reporters to document these awful working and living conditions at one of their key suppliers.  So this is not simply rumor or hearsay by an anonymous source, this is researched, documented and publicly presented by Bloomberg.

I understand Apple is not alone in this lack of supplier oversight.  Many, many global corporations are guilty of the same disregard of foreign employees/contracted employees working and living in shameful conditions all for the sake of maximizing their earnings per share.  Is this due to the lack of ability or lack of financial resources?  Or is it due to negatively impacting earning results of a few pennies per share?  I don’t know the answer to that from Apple’s perspective.  Only Apple’s executive management knows the answers to these questions.  All that said, given Apple’s position as a global leader in technology, their apparent lack of knowledge, interest and dedication to negotiating and implementing higher quality, humane working and living standards for key supplier employees is inexcusable and a great disappointment.  Those in charge of supply-chain management & oversight at Apple, should be better negotiators and better enforcers of making sure their products are not being made at the expense of human dignity…especially when charging the prices they do  for their products, and offshoring $billions in profits.

As for us, this current lack of oversight may influence our future purchasing decisions when it comes to Apple products.  What a shame…  Apple does so many things so well.  Perhaps Apple focuses too much attention on placing investment capital in technology, design, branding & image, and offshoring huge profits in the BILLIONS…and perhaps not enough attention spent on the human dignity of the foreign workers in their supply chain.  Come on Apple, you can do better than that…we know you can!  It’s a choice…but is it a priority?  We expect you to lead, innovate, implement and uphold to higher standards, especially when it comes to global worker conditions in your supply chain.  The importance of human dignity should match the quality of the products you produce…period.  Please don’t prove us wrong!  Give this the attention and resources it deserves…fix the problems.

GMS BUSINESS CONSULTING – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

GMS Business Consulting No Comments

Santa Rosa Fires & Redwood Academy

Hello Dear Readers,  As we now begin the second week of wildfires here in Northern California, our hearts, thoughts, and prayers go out to the victims and their families, business owners and anyone else who was adversely affected by this disaster that came on so quickly in the middle of the night on October 9th.   Also, our hearts, thoughts, prayers and indescribable gratitude go out to the heroes in this disaster…the Firemen/Firefighters, the Sheriffs, the Highway Patrol, the city Police Departments, the evacuation centers and all the volunteers who were willing to sacrifice their time, their efforts and in many cases… their lives in the service of others.  Thank you…

One tragedy that was close to our hearts was a local K-12 Academy – RAA (Redwood Adventist Academy) – located in Santa Rosa off Mark West Springs Road, was completely destroyed in the Santa Rosa wildfires last Monday.  This Academy was established in 1931, and it has produced some of the most wonderful human beings, and some of the best educated children in the state with high moral characters.  Pretty impressive in this world today!  This Academy also hosted an on-site 8 acre farm and farm stand (that was open to serve the public), producing “better than organic” heirloom vegetables planted by/nurtured by/harvested by the students of RAA under the leadership of our CFO (Chief Farming Officer), Joby Oft.  They served the community, fellow churches, local restaurants and anyone else  interested in purchasing locally grown, wholesome food…right from the farm on the school campus.  Within minutes, the school and the farm/farm stand were gone.  My wife and I serve on both the Redwood Academy’s School Board and Foundation Board to support high quality Christian education that is affordable.  This news was devastating to the students, staff, parents, alumni, the local community, and to us.  What a terrible loss.

That said, the light is at the end of the tunnel, in that eventually the Redwood Adventist Academy/ farm/ and farm stand will be rebuilt, with God’s amazing grace.  Yes, insurance will cover some of the costs but not all.  So that is why we’re doing this post this evening… we’re reaching out to you and others to help rebuild Redwood Academy.  We need your help to expedite this effort, and with your support we can do it.  To make a donation to rebuild RAA, simply go to: https://www.purecharity.com/redwood-adventist-academy

Thank you in advance for your support, your prayers and for any donations you may be inspired to make…God Bless.

 

GMS BUSINESS CONSULTING – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

GMS Business Consulting No Comments

“BUY LOW…SELL HIGH” – LOOK FAMILIAR?

“Buy low…Sell High”  Sound familiar?  Good Morning Everyone!  It’s been a few months since our last post.  After spending several years analyzing dozens and dozens of investment charts and graphs as a stockbroker/financial consultant/and a middle-market institutional broker at two international investment firms, I saw the above graph and article this morning on Bloomberg.  I couldn’t resist…I have to share my views and make a few comments…

As the saying goes, “a picture is worth a thousand words.”  And this picture on the surface tells a lot.  Based on my years of experience advising and consulting the general public, (both inexperienced as well as very experienced investors) on prudent investment management, I know most everyday investors and self-proclaimed savvy or experienced investors simply don’t understand the foundational principles of investing.  The general principle is to buy low and sell high.  In most cases, the general public invests in a manner that is the exact opposite…they tend to emotionally buy high, and in a panic… sell low.  The savvy/experienced investors on the other hand do exactly what they should do…they unemotionally buy low and unemotionally sell high!  How do they do this?  The answer in general terms is simple, but it’s not easy.  They do the following, but methodically:

  1. They don’t invest with emotion, they invest with discipline using financials/trading models etc. (which are all available to the public through their investment firms and online sources)
  2. They do their own homework first, by relying on their own research, good advisors (if they need one), and their own business sense.
  3. They don’t follow the crowd…they do quite the opposite.  They buy when the public is emotionally selling or panicked, and sell when the public is emotionally optimistic and running up the markets.

The point is, if you want to buy low and sell high, you have to get into the mindset of the savvy experienced investors.  Beginning with understanding where the markets are in the midst of the investment cycle…are they over-valued or under-valued?  Are they at high or low valuations.  And secondly, begin asking yourself (or your advisors) strategic questions.  As you can see in the above chart, all three markets are at or near their all-time highs.  Then depending on whether you are an existing owner or considering to be an/investor/or speculator, ask yourself the following questions:

  • Are the markets (stock/bond/real estate) under-valued or over-valued?
    • Based on what information and valuation data?
    • What are your investment goals & objectives?
    • What’s your time horizon?
    • What’s your expected R.O.I.?
  • Is it a good time to be either a buyer or a seller in any these markets right now?
    • It depends…What’s your motivation?
    • Are you an existing holder considering to sell…or an investor considering to buy…or simply a speculator looking for a short-term profit?
  • Why do you want to buy/sell/ or hold in these markets now…is it due to need/long-term investment/speculation?
    • Again…What’s your motivation?
  • What’s your buy/sell discipline…your entry/exit points?
    • How did you arrive at those entry/exit points…through emotion or through a careful analysis of financial data and momentum oscillator data?
    • Again…What’s your time horizon?
    • Again…What’s your projected R.O.I. given your time horizon?

In general…not always…when the general public’s interest goes one way (in terms of investing), you may want to consider doing the opposite (however do your own due diligence and research first, and don’t rely on others!).  Generally, when it comes to “investment timing”, people tend to buy their investment assets at inappropriate times because they feel good or positive about the economy/the markets/or a particular company is popular or they’re afraid they’re missing out.  When it comes to inappropriate investment timing on selling, it’s usually because the markets are diving and they simply panic.  In either case the timing is off due to emotional investing and not methodical investing.  That’s understandable…we’re human!  That said, most experienced investors understand this costly emotional roller coaster and tend to avoid that ride by doing the fore-mentioned above.  When markets have fallen and asset valuations are near their lowest price points in their market cycle, this often times presents an optimal time to begin acquire such assets.  Likewise, when the markets are reaching new highs and the general public has taken an emotional buying position, this may be an opportune time to begin  taking some profits off the table, and setting the cash aside to invest when prices soften once again.

Is this a simple concept…yes.  Is it easy to implement…no.  When it comes to investing, most people tend to take action based on their emotional instincts…which are usually wrong.  Interestingly, the Bible also cautions us to not be ruled by emotions as ““The heart is deceitful above all things, and desperately wicked; Who can know it?” (Jeremiah 17:9…please understand this text in its context).  So given the state of these markets, use your common sense…your business sense…do your own research…ask strategic questions, and make your investment decisions based on research and not emotion.  This will get you closer to becoming a savvy, experienced investor with the mind-set and practice of buying low and selling high.  We hope you found our perspectives and opinions to be insightful and helpful.

GMS BUSINESS CONSULTING provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

GMS Business Consulting No Comments

Cyber Security – Part Two

Jim Rickards – THE DAILY RECKONING

Hello everyone…this is Part 2 of 3 of our series called Cyber Security.  In 2016, Accenture Consulting published a cyber security white paper (geared towards large organizations) that we thought would be of interest to business owners like you.  This study goes into a more in-depth analysis supported by industry interviews and statistics.  You can download this white paper in two formats; either the Executive Summary or the Complete Report.

Having worked for a forensic accounting firm for several years, I understand some of the challenges and vulnerabilities all organizations face, and that we as consumers face regarding cyber security.  The challenge is, there doesn’t appear to be much access to simple, step-by-step, practical standards of cyber security available to small business owners to readily implement.  This is a real problem!  The white paper focuses its attention on cyber security threats of larger organizations, but we as small business owners can learn from their challenges, approaches and solutions.  The small business owner (and individual alike) needs access to practical, actionable standards of practice against cyber security threats and the protection of their data.

When we think of cyber security from the perspective of a small business owner or as an individual, think about it in terms of our smartphones/ tablets/ and computers.  We either grant permission for auto updates or regularly receive promptings to update and “accept” software company’s “terms and conditions” to either download or update the software on our devices.  This “acceptance” grants those software companies access to our data through our phone cameras, microphones, phone records, pictures and access to other data files.  It’s quite obvious that we have been conditioned to accept whatever terms and conditions are asked by these software companies in order to comply with their downloading/updating standards.   Why should you grant access to all these requests for your smartphones solitaire game?  What this means is that our data and our privacy are at risk.  Our privacy and security are practically non-existent because we have blindly “accepted” software providers terms and conditions.  We therefore have either knowingly or unknowingly relinquished our privacy, our data and control of our information, how it’s managed, secured and shared with others.  This can and does have serious repercussions!  How could we be then surprised that our information could be stolen and disseminated all over the globe?  We have only ourselves to blame.

We would recommend reading the white paper referenced above by Accenture Consulting, and think about how large organizations are approaching this eminent risk.  What can we as small business owners learn and implement from these organizations to better protect our privacy and data (and client data), and to help mitigate cyber security threats and breaches?  We’ll post a follow-up in Part 3 of this series in a few weeks to address how we as business owners (and individuals) can take some practical and actionable measures to better control the security and privacy of our data.  Well I should say, as best we can given that we live in a state of technological acquiescence…whether we choose to believe it or not.  Until then, we hope you enjoy reading the white papers by Accenture Consulting.  Back to you in a few weeks…

Contact Us if you would like to discuss business strategies for your business.

GMS BUSINESS CONSULTING provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact us if you are interested in learning more about our services, and in particular, about our M.A.P. (our 3-phase business development solution) to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

 

GMS Business Consulting No Comments

Cyber Security – Part 1

Jim Rickards – The Daily Reckoning

Cyber Security may be the number one economic threat to individuals, businesses and to our nation.  Recently, there was a massive breach in cyber security for some of the largest companies in the world.  For the most part, it was brushed over on mainstream media for a few days.  Nothing substantial was revealed in terms of understanding the nature of this particular cyber hacking, and the potential threat and depth of damage this may have lead to.  Jim Rickards wrote an interesting post on his blog, THE DAILY RECKONING regarding cyber security that we thought would be of interest to our clients and readers.  Jim gives a macro perspective on the three degrees of the cyber security threats that currently exist in the world today.

We’ll post a follow-up to this in a few weeks to address how cyber security experts are strategizing about how to best address this imminent threat currently and for the future.  Hopefully their insights will enable us as business owners and individuals to take practical and actionable steps to better control the security and privacy of our data (well, as best we can).   Given that we live in a state of technological acquiescence (whether we realize it or not), have you ever seriously considered just how quickly and easily we “accept” the terms and conditions of downloading new software or software updates to our smart phones?  Do we really understand the access rights we are granting to these organizations, and what they’re doing with our data and who they’re sharing our data with?  Think about it…  Until then, we hope you enjoy reading the article by Jim Rickards.  Back to you in a week or two…

 

GMS BUSINESS CONSULTING provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

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The Coming Economic Crisis: A Follow-Up

We wanted to provide you with a brief follow-up to our earlier post on the coming economic crisis back on November 3rd, 2016.  Those of you who “believe” you understand finance, investments, Wall Street, and how the economy really works…think again and humble yourselves, and listen to this insightful 2-Part interview on London Real with Jim Rickards.  This recent interview will bring you perspectives that cannot be obtained through mainstream media or an MBA program.  Rather, it is through decades of training, knowledge and experience shared by one of the brightest minds in the financial world.  Watch, listen and learn…get informed.  This is perhaps the most informative, insightful and important financial interview we have ever listened to.  See the links below:

Part 1https://www.youtube.com/watch?v=h8GGm0WOGms&spfreload=1  (this covers the first 48 minutes of a 1-hour-25 minute interview.  Just make sure to advance to 5 minutes into the interview to avoid all the annoying marketing intro.)

Part 2: https://londonreal.tv/james-rickards-the-road-to-ruin/  (this link is to view the interview in its entirety, which is approximately 1-hour-25 minutes.  You’ll need to register (it’s free) w/an email and password to access the entire interview on London Real …sorry!  Their rules, not ours…but it’s well worth it.  Just make sure to advance to 5 minutes into the interview to avoid all the annoying marketing intro.)

Do yourselves a favor and prepare for the coming economic crisis, and take the information provided in the interview, and take action.  Contact your financial advisor and discuss your strategy/ options/ and plan (however, my guess is that your typical investment / financial advisor will have no idea what Jim Rickards is talking about, and will most likely feed you with mainstream Wall Street investment advice…which borders on worthlessness).  Although we don’t provide investment advice, we’re more than happy to discuss business strategies to help you/your business navigate through the upcoming economic crisis.  Remember…it’s better to have a plan and have nothing happen, rather than not having a plan and something does happen…the results are vastly different.  Remember…do your research, get informed, and then you’ll be in a better position to make better informed decisions to survive the coming economic crisis.

Contact Us if you would like to discuss business strategies for your business.

 

GMS BUSINESS CONSULTING provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact us if you are interested in learning more about our services, and in particular, about our M.A.P. (our 3-phase business development solution) to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

GMS Business Consulting No Comments

Election Fraud In The U.S. – FACT OR FICTION?

Hello Everyone!  Well, we’re almost two weeks past the general elections, and we thought we’d let the dust settle a little bit before addressing the issue of election fraud, and whether or not it is fact or fiction would make for an interesting and timely post.  We are NOT claiming election fraud in this past election of President-elect Donald Trump vs. Hillary Clinton, we’re simply addressing the issue, and attempting to shed some light on the possibility that election fraud may exist here in America, and if so…to what extent.  While mainstream media apparently dismisses the notion and possibility that election fraud exists here in the United States, and labels those who do believe this or discuss this as out-of-touch, non-sense and conspiracy theory, we want to show some alternative views from credible sources that you may want to consider.

Many people we have spoken with regarding the issue of election fraud and stolen election possibilities here in the U.S., both recently and in the past, also tend to dismiss this issue as either non-sense or a conspiracy theory as well.  The few people that we have spoken to about this issue that more readily accept this as a real possibility and threat are high-tech professionals who understand software & network engineering and mathematical algorithms.  That said, those business professionals generally do not fit our typical client profile for whom we are writing this post.  Business professionals like you (lawyers/CPA’s etc), while well-informed, generally dismiss this issue as well, due to disbelief that this could happen in America, lack of evidence or credible sources that would support this position and take this matter more seriously.  We’re not going to try convincing you one way or another as to “if” this happens or is even a possibility.  We simply want to present to you several sources of information for you to review, consider and to weigh the evidence so that you may come to your own conclusions.  As we ALWAYS stress to our readers, do your homework so that you are better informed so that you can make better decisions.

The better people are informed, the more likely corrective legislation can be discussed, drafted and implemented to change or fix the problem our society faces.  We don’t know if this past election was fixed/stolen/modified because there is no credible “provable” public audit of voting results prior to/during/after the polls close that verify that ALL voting terminals/servers/data centers have clean software, and accurate mathematical algorithms encoded into the software are verified.  If we do have this authenticated process in place, please let us and the sources listed below know…because we haven’t seen them yet.  Listed below are just a few of the many sources available that competently address the issue of election fraud in the U.S.:

  1. Dr. Paul Craig Roberts (Former Assistant Secretary of the Treasury – Biography) discusses and provides links to support his position on election fraud ARTICLE #1, ARTICLE #2.
  2. World News Daily – Information Clearing House interview with Professor Mark Crispin Miller – (of New York University),  “Can U.S. Elections Be Stolen”
  3. BlackBoxVoting.org – Black Box Voting, founded in 2003, is a nonpartisan investigative reporting and public education organization for elections.
  4. Investigative Reporter – Jon Rapporport’s blog post on October 31, 2016 Election Fraud

Interesting information, right?  The question is, how will we as voters, citizens of the United States respond to this issue?  Do we the American public really care or care enough to want to make a difference?  There is a solution…we the people must get informed, organize and discuss, then act judicially to hold our representatives accountable in making the changes necessary to resolve this issue.  We’ve presented some credible sources that expose that election fraud here in the U.S. exists.  So the question is, what are you and I going to do?…What are “we” going to do about it?

GMS BUSINESS CONSULTING provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact us if you are interested in learning more about our services, and in particular, about our M.A.P. (our 3-phase business development solution) to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

 

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WARNING – THE COMING ECONOMIC CRISIS

Image by: WiseGeek

Hello Everyone,  we hope all of you are in good health, prospering and productive.  You may have heard people talk about it before, and nothing has happened since 2008…yet.  As many of you know, earlier in my business career, I was a financial consultant for two large Wall Street Investment firms.  Over the past two decades, I have further expanded my breadth of knowledge and experience in business consulting for various business disciplines.  During which time I have also kept my hand on the pulse of the economic and financial world in which we have to live and navigate through.  Over the last three decades, I have seen and lived through several financial crises of which, by the grace of God, using some good common sense and incorporating some solid forecasting advice, I was 100% in cash 3-6 months PRIOR to the dot-com crash and the 2008-2009 crash.  (Please note: We are NOT investment advisers, nor are we giving investment advice.)  We’re simply sharing with you, our readers, how some proactive planning on your part may help you, your family and your business prepare for the coming economic crisis.  Thus, the title…”Warning – The Coming Economic Crisis.”

Over the years, I’ve noticed one important trend…the crises are getting worse as they come along.  The 2008-2009 crises literally brought the world to its knees…being within weeks if not days of a complete global financial banking melt-down.  Eight years later, I believe we are on the cusp of yet another, more severe economic crises that will forever change the world and how we transact business.  Nearly every person I speak with (business professionals and non-professionals alike) are completely uninformed about what happened leading up to the 2008 crisis, and have no clear understanding of what actually caused the economic crisis in 2008.  Most people simply believe it was about too many sub-prime home mortgages defaulting…really?  Do you honestly believe that was the true cause of almost bringing down the global financial system?  This post is not about explaining what happened in 2008 because that has already passed, and many have written about it.  Rather, we want to focus on what looms ahead and how you can prepare for it.  I know what you’re thinking… Things seem to be be better than they were a few years ago, and in many areas they are.  However, when you look at the foundations…the fundamentals of what support the global economy and not simply look at the short-term surface results, the picture is quite different.  We (GMS Business Consulting) feel like we’re all living economically on borrowed time.  Simply ask yourself the following questions:

QUESTIONS:

  • Are near-zero interest rates a sign of a weak or strong economy?
  • Why has the Federal Reserve been so hawkish in raising interest rates for 8 years if the economy were as strong as reported, and so cautious this year about raising interest rates 1/4 of 1 percent?
  • Does a 25 basis point interest rate hike really threaten a healthy economy?
  • Would you or any reasonably-minded person or business man refuse to make a purchase because of a 25 basis point hike in interest rates? (I don’t believe so, unless that person is already at their 95% affordability index.)
  • So the questions begs an answer to:  Why is the Fed so cautious and reluctant to raise interest rates by 25 basis points once or twice a year?  What do they know that we don’t know…and are not telling us?
  • How do you get good financial information/perspective/forecasting, and not dumbed-down propaganda?

ANSWERS:  You have to do your homework.  You have to dig a little bit outside the mainstream sources of information.  You have to become financial and political atheists when it comes to seeking sources of good/reputable information.  You need to let go of the mainstream media sources like the CNN’s/FOX’s/NYTimes/Wall Street Journals etc.  Not that they’re bad, but I just don’t recall these sources effectively ringing the warning bells of prior crises or of the future looming crisis.  They’re pretty good at telling you what “happened” once the crises began, but not too effective about warning the public and accurately describing the lead-up to the crises themselves.  Perhaps they did provide some tid-bits of warning in isolated sound bites, but I personally don’t recall receiving my sources of preparedness of previous crises coming from these sources.

Given where we are economically and politically, there are a few sources that we believe have been credible over the years that we share with family and friends, that we would like to share with you…  Keep in mind these sources are not perfect/all-knowing/faultless etc., but they have good, long, solid records of experience and forecasting.  We would suggest starting with these, then branch out and seek more on your own.  Evaluate how they compare with your current sources.  If you “really” want to seek understanding of the economic and financial condition we’re living in, then you must give-up your biases, and seek truth and understanding.  Only then will you be able to clearly understand the facts as they are, and not as they’re reported or appear to be.  Then, you will be better prepared to engage in strategic planning for yourself, your family and your business to survive the coming economic crisis.  We have found the following 5 sources  to be very credible in economic, financial and political perspectives and forecasting.  You may not agree with them on each point, however the key is…to better build your sources of independent information to give you a balanced perspective from which to make better informed decisions.

  1. JIM RICKARDS (Attorney & Financial Expert – About Jim) – View these interviews to understand his perspective regarding the coming economic crisis ahead at:  https://www.youtube.com/watch?v=tfiJMMxSv3o     http://icradio.co.uk/icr-142-james-rickards-road-ruin/   https://www.youtube.com/watch?v=2rhm0Zm-J4k and  https://youtu.be/MhR_AkfFfZ0
  2. NOMI PRINS (Former Goldman Sachs Director/Financial Expert/Author/Speaker) – View her bio here: http://www.nomiprins.com/ and view her recent interview of the coming economic crisis here: http://kingworldnews.com/financial-crack-up-nomi-prins-warns-when-the-system-crashes-this-time-it-will-crash-harder/
  3. DR. PAUL CRAIG ROBERTS (Economist/Former Assistant Secretary of the Treasury/Author) – Visit his blog with interviews and articles at: http://www.paulcraigroberts.org/pages/about-paul-craig-roberts/
  4. GERALD CELENTE (Renowned Trend Forecaster) – You can view his website and subscribe to his newsletter at: http://trendsresearch.com/   (Mr. Celente is very passionate, a political atheist, and very knowledgeable.  Focus on “what” he says, not “how” he says or expresses his views).
  5. JOHN WILLIAMS (Economist) – To better understand the “real” or true economic numbers reported to the public, John Williams strips away the non-sense used in massaging the economic indicators by government officials and mainstream media, and provides bare-bones numbers that more accurately reflect the state of the economy.  Visit his web site at: http://www.shadowstats.com/

CONCLUSION:  As we’ve mentioned, we believe we are on the cusp of another economic crisis of which we’ve never seen in our lifetimes.  Does that mean you should sell everything/close shop/stay inside/do nothing?  Absolutely not…it simply means get informed…better informed so that you can make better decisions on how to better prepare and protect your family and business once this crisis unfolds.  The sources I listed are simply the sources we have found outside of the mainstream media sources that have proven valuable to us over the last two decades.  There are many more sources out there…too many for us to list, and you too will find others as well if you do your homework.  Remember, you don’t have to agree with them on everything, simply listen to what they have to say, test their knowledge and perspectives, consult with your current advisers, and then make your own decision.  We simply didn’t want to let time go by and an opportunity slip away to warn our readers of what concerns us personally and professionally of what we see coming on the horizon, and to not take the opportunity to share our perspectives along with a few reputable sources.  Please don’t wait to do your planning now…the coming economic crisis isn’t waiting for you…

 

GMS BUSINESS CONSULTING provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact us if you are interested in learning more about our services, and in particular, about our M.A.P. (our 3-phase business development solution) to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15