"Jeffrey Tucker describes the nature of Bitcoin and whether it is an opportunity for online merchants from various industries to start accepting bitcoins as a payment method for their goods and services." Continue reading →
"The authors are particularly concerned about the Bitcoin Payment Messages system scheduled for release along with version 0.9 of the cryptocurrency. That mechanism would allow merchants to request payment from customers, rather than simply providing them with an address to send payments to. Payments would be completed using digital certificates owned by the merchants, and would contain customer and merchant metadata linked to specific transactions. [The paper] worries that Bitcoin Payment Messages will make it possible – and therefore mandatory – to issue receipts, playing further into the hands of the regulators." Continue reading →
"South Korean custom officials caught Wednesday nine Taiwanese nationals who were allegedly smuggling 134 pounds (60.75 kilograms) worth of gold, hidden in their rectal cavities. According to China Post, the suspects are accused of transforming US$3 million worth of gold bars into small beads and smuggling them into South Korea 11 times since May last year. The group allegedly entered the country through Gimpo International Airport in western Seoul as Korea’s main gateway, the Incheon International Airport, has recently tighten controls." Continue reading →
"Early this month, big news came out of China. It may have gone unnoticed by some investors—and there's really no reason why it would have been covered extensively by mainstream media—but it's important if you're a silver investor. China raised its target for solar generating capacity to more than 35 gigawatts (GW) by 2015, a stunning increase of 67% above the previous target. In addition to China, India plans to increase its solar output to 20 GW by 2020, starting essentially from the scratch. On a worldwide basis, solar power generating capacity is projected to be 20 to 40 times the amount of current capacity by 2020." Continue reading →
"The most lucrative trade of 90's Soviet period was obtaining a bank loan (there were only state banks). Which was easy as long as you paid bank manager 20% straight in the pocket. It was up to you what you did with the 80%. Fast forward to today's China. Special investment financing vehicle and state bank loan architecture has been in place for a long time and not just since 2008. As you can imagine such vehicles are predominantly used to skim a little bit off the top. Operator gets rich, lender gets rich, party official gets rich. 2008-2009 RMB 4trn stimulus is the payday system the operators were waiting for, a once in a lifetime chance." Continue reading →
"Motor City has been flattened. Now it’s being scrapped. The largest municipal bankruptcy in history. Detroit was once one of the richest…and most dynamic…cities in the world. And it was the centre of America’s most profitable industry: automobiles. German and Japanese automakers had the good fortune to be bombed out in World War II. But Detroit grew bigger…more prosperous…and full of zombies. Yes, dear reader, Detroit is a zombie story. Since 1971, almost all big stories have a zombie angle. Because the credit-based monetary system that Richard Nixon put us in is a perfect habitat for zombies." Continue reading →
"The Tigers’ home stadium Comerica Park, which opened in 2000, was built at a cost of $300 million, 38 percent of which was publicly financed. Ford Field, the Lions’ domed stadium, was built next door to Comerica and opened in 2002 at a cost of $430 million, 36 percent of which was publicly financed. A state board recently approved issuing bonds to help pay for a new arena for the Red Wings at the heart of a proposed 45-block entertainment district just north of downtown. The total project is slated to cost $650 million. About 44 percent of the project would be financed through public sources." Continue reading →
"There’s no way a bailout of Detroit goes through the House of Representatives. Heck, I don’t even think it could make it through the Senate. So some folks on the left would be justified if they asked why the high rollers on Wall Street supposedly deserved a bailout a few years ago but they don’t get one today. The answer, of course, is discrimination by color. But I’m not talking black vs white. The color that matters in politics is green. The financial industry dispenses huge campaign contributions to both sides of the aisle, and the bailout was their payoff. Public employee unions, by contrast, give almost every penny of their money to Democrats." Continue reading →
"Detroit’s population has fallen by 60% since 1950. The murder rate is 11 times the national average. The previous mayor is in prison. Shrubs, weeds and raccoons have reclaimed empty neighbourhoods. The debts racked up when Detroit was big and rich are unpayable now that it is smaller and poor. Though some of its woes are unique, a crucial one is not. Many other state and city governments across America have made impossible-to-keep promises to do with pensions and health care. Detroit shows what can happen when leaders put off reforming the public sector for too long." Continue reading →
I LOVE this stuff From the video description: From the upcoming Special Edition Ascent: Commemorating Space Shuttle DVD/BluRay by NASA/Glenn a movie from the point of view of the Solid Rocket Booster with sound mixing and enhancement done by the folks at Skywalker Sound. The sound is all from the camera microphones and not fake […]