By Jeff Brown, editor, Exponential Tech Investor Last week, House Democrats drafted a new bill called the “Keep Big Tech Out of Finance Act.” This is a short bill obviously timed around the antitrust congressional hearings. It’s designed to block large tech companies out of the financial services industry. Companies with annual global revenues of $25 billion or more can’t affiliate with a financial institution if they’re engaged in certain activities. (Examples include running an online marketplace, exchange, or platform to connect third parties.) Clearly, this bill is targeting the Big Tech companies that recently testified in Washington: Apple, Amazon, Google, and Facebook. It’s a heavy-handed attempt to keep Big Tech from disrupting – and improving – the financial services world. And it’s not a coincidence that the bill was drafted after Facebook announced plans to launch its Libra cryptocurrency. | Recommended Link | Wow, Did You See This Crazy $151,740 Opportunity Last Night? Last night, Jeff Brown revealed his secret system for uncovering huge (1,000%) opportunities tucked away in a small subsector of the tech market. He even wagered $2 million that you’ll have the chance to see $151,740 over the next year using just five minutes of your time each month. | | | -- | Of course, I wouldn’t be surprised if financial services industry lobbyists were behind the bill. It’s designed to protect incumbents from tech companies’ innovations. But this is always a terrible idea – and a great way to stifle economic growth. The fact is, over the last two decades, the financial industry has proven that we can’t trust it… From rigging the London Interbank Offered Rate (LIBOR) to inflate the industry’s profits… to colluding with credit-rating agencies to mislead investors about mortgage-backed securities… to the robo-signing of foreclosures… to paying billions in executive bonuses after the taxpayer bailouts… There’s a laundry list of transgressions from the Big Banks – and over $100 billion in fines levied against these guilty parties. Simply put, we need competition in this space. And we should keep in mind: This bill wouldn’t be limited to just the largest tech companies. It could potentially harm companies like Coinbase and Robinhood, too. These are digital-first companies catering to consumers, not just the big players. They’re fully compliant. And they provide immense value to normal, retail investors. We want these companies to continue innovating. We want them to remove the middlemen who add nothing but friction and unnecessary costs. We don’t want to slow these companies down… We want them to flourish. So this bill is an awful idea. And I expect it to die quickly. Even if it does pass in the House, I can’t imagine it getting through the Senate. The reality is, Congress knows it has much bigger problems. Cryptos – including Facebook’s Libra – threaten the government’s “monopoly” on currency creation. But the transition from fiat to digital assets is inevitable. Governments will have no choice but to adapt. And speaking of cryptos… | Recommended Link | We Screwed Up! Our book printer made a HUGE mistake... They printed an extra batch of The Income Bible... It’s valued at $250. But now we have no choice but to give it away... FOR JUST $1. It contains 316 little-known techniques designed to boost your monthly income by $1000s. Today you can take advantage of our printer mistake... And claim it for just $1. | | | -- | An IRS Crypto Crackdown? The Internal Revenue Service (IRS) – the U.S. government’s tax authority – may subpoena Apple, Google, and Microsoft to help find unreported crypto holdings. The IRS wants data surrounding crypto wallet downloads. And those three companies have that data. This comes from a massive, 181-page presentation leaked from an IRS cyber training session. Its goal is training IRS agents to find hidden crypto holdings. This is scary stuff. It tells us that the IRS is getting aggressive. Ironically, the IRS hasn’t yet provided clear guidance on the tax treatment of cryptos. As a result, tax professionals don’t know how to deal with the nuances of filing taxes regarding crypto gains. Most Americans want to file their taxes accurately. But this lack of clarity makes it difficult for crypto holders. So it’s a problem that the IRS wants to go after them anyway. This has been a major focus of the Chamber of Digital Commerce, a leading trade association representing the digital asset and blockchain industry. And it’s a big reason why I visited Washington last week. We’re working hard to educate Congress about cryptos and digital assets. In conjunction with the Congressional Blockchain Caucus, the Chamber has also been trying to provide guidance to the IRS in hopes of clarifying tax filing requirements. Now, we’ve made a lot of progress to this end – but we still have a lot more work to do. 
Here’s what I can say to crypto holders… Until we get more clarity, the smart assumption to make is that every time we sell a crypto (even just moving from one digital asset to another), it’s a taxable event. It’s very important for us to declare any gains from these sales on our tax filings. I always recommend speaking with a tax accountant on these matters. And always declare any form of gains from any sale of a digital asset. Regards, Jeff Brown
Editor, Exponential Tech Investor P.S. While I’m working towards educating Congress on the benefits of cryptos, tech firms are also presenting us with another investment opportunity… Last night, I revealed all the details behind my system that identifies the best ones that could hand investors life-changing gains. If you missed out, the good news is, I’m making a replay of my presentation available for a short time only. You can watch it right here.
Market Insight: Still Think Esports Is Just a Fad? Read This… By Houston Molnar, analyst, Casey Daily Dispatch One of today’s most explosive trends just reached a new milestone… Competitive video gaming – or “esports” (electronic sports) – is now entering the X Games. If you don’t know, the X Games is an annual extreme sports competition hosted by ESPN. Think dirt bikes, skateboarding, and motocross. Take a look at the image below, which shows last year’s X Games, hosted at U.S. Bank Stadium, home of the NFL’s Minnesota Vikings. 
Source: X Games
As you can see, it’s a massive event that draws in millions of people… and is getting more popular every year. Last year’s television audience was up 38% year-over-year for all telecasts. Not only that… it streamed live on YouTube, where it reached 2.3 million total views. That’s in addition to the 119,000 people who attended last year’s Games in person. In one week, fans will flood the stadium and tune in again… but not only to watch skate tricks and backflips on a dirt bike… They’ll also watch a $150,000 cash prize esports tournament. As regular readers know, esports is competitive video gaming played at the highest level in front of an audience for cash prizes. Now, before you laugh, this is only the latest proof esports is a new megatrend which is here to stay. The money-making opportunity is no different than a professional golf tournament. You have viewers, sponsors, and cash prizes… The bigger the attraction, the bigger the investment opportunity. Strategic Trader editor E.B. Tucker has been following this massive trend since the beginning. And he says the boom is just getting started: This is a serious trend. Before you scoff at esports as a nothing business, consider revenue looks set to cross $1 billion this year. That’s up five times from 2014. Estimates forecast another 80% increase by 2022. Money’s flowing into esports. And people are tuning in to watch these competitions at a record pace… According to market research firm Newzoo, the number of esports viewers reached 395 million in 2018. That’s up 195% from 2012. And that’s four times the 98 million viewers who tuned in to watch the Super Bowl this year. As E.B. says, this industry will be a huge money-maker in the years ahead. And now’s the time to take advantage. – Houston Molnar P.S. E.B. and his team have been researching esports longer than anyone I know… and not just from the comfort of their desks. They’ve gone to the front lines of the esports boom. Here’s a photograph of John Pangere, E.B.’s lead analyst, at a recent esports competition in Los Angeles. 
John also recently visited an esports arena at the Luxor Hotel and Casino in Las Vegas. 
This “boots on the ground” research has paid off. I say this because E.B.’s found a unique way to profit off this mega trend. In short, he’s bet on a company that owns esports arenas as well as its own esports team. And that’s not even the most interesting part. You see, E.B. didn’t tell his readers to buy this company’s stock outright. Instead, he found a backdoor way to invest in this incredibly promising business. This unique strategy offers unlimited upside with little downside risk. It’s the sort of investment that E.B. focuses exclusively on in his new venture, Strategic Trader. This play is already up an astonishing 227%... and E.B. says the run is just getting started. You can learn more about this opportunity, and the specific strategy E.B. uses, here.
Reader Mailbag Today, readers respond to our recent interview on cryptos with Disruptive Profits senior analyst Marco Wutzer… and offer their takes on whether cryptos are as illegitimate as President Trump says they are… Cryptos are not superior to fiat currency because of multiple taxes by thieving, lying, cheating, stealing, blackmailing government – and it will want to keep sales tax, too. A medium of exchange has to be earned, not bought. – Pete Sorry, I will take the U.S. dollar anytime over bitcoin. This is a waste of time. – Brian The Fed’s job is to print money. It is a private corporation, and it is a total fraud. If the Federal Reserve were eliminated, and Congress returned to a gold-backed dollar and did its job, then Trump would be correct! That has to happen first, and I hope it does, but I am not so certain this will happen. There is risk with this move as well, but it is inevitable if we wish to keep the dollar as the exchange unit for oil. That, of course, is just my opinion, and you know what all opinions have in common. – Ken As always, send any questions, comments, or concerns to feedback@caseyresearch.com.
In Case You Missed It Have you reserved your spot at the second annual Legacy Investment Summit yet? This year’s event, taking place from September 23-25, is your ticket to building and securing your wealth in 2019 and beyond. You’ll get to meet and chat with our top gurus, including Doug Casey… Nick Giambruno… Dave Forest… Marco Wutzer… E.B. Tucker… and more. Plus, it’s all happening at a five-star resort in Southern California. Go here now to book your tickets. 
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