Yearly Archives: 2013

Living On Bitcoin For A Week: The Journey Begins

"On Tuesday morning, I emptied my wallet of all of the cash and credit cards before I left my house. Many journalists have been writing about the mechanics of buying Bitcoin and the resulting heart palpitations as they watched the dramatic rises and falls in the digital currency’s worth over the last few weeks. But that’s just a story about gambling. My editor issued a different challenge to test the currency’s legitimacy: 'Don’t just buy Bitcoin. Live on it for a week.'" Continue reading →

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Turkey Said to Sign Oil Deal With Kurds, Defying Baghdad

"Iraq’s Kurdish region has signed a landmark agreement with Turkey to supply it directly with oil and gas, two people familiar with the matter said. The accord was signed last month when Turkey’s Prime Minister Recep Tayyip Erdogan met Iraqi Kurdish Prime Minister Nechirvan Barzani in Ankara. The Kurdish government will sell oil and gas directly to Turkey in a deal that so far has bypassed the Iraqi government in Baghdad, which has warned the Kurds not to sign separate energy accords. Turkey may also take the Kurdish government’s stake in concessions operated by Exxon Mobil Corp. on the enclave’s border with the rest of Iraq." Continue reading →

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Banking Crisis Awakens Hopes for Cyprus Reconciliation Between Turks and Greeks

"In 2008, when the Greek part of the island adopted the euro, the Turkish inhabitants of the northern part of the island felt duped. And, of course, this makes their schadenfreude regarding the southern part's current economic woes all the greater. 'With the referendum, the Greeks left us out in the cold. They wanted to profit from the euro by themselves,' says Efem Okiran, who runs a flower store in Gemikonagi. But now his neighbors can see what good that's done for them -- and where they've ended up. 'For 10 years, they made money thanks to the EU,' Okiran adds. 'And now they're supposed to bleed for 10 years.'" Continue reading →

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Expat exodus from Spain as new tax law takes effect

"New Spanish tax laws affecting an estimated 200,000 British expats, have sparked panic, prompting some to leave the country or hand in their residence cards at town halls before today's deadline (30 April), fearing a Cyprus-style money grab. Opponents, including Spanish politicians, have branded the new asset declaration law discriminatory, and fear an exodus of EU residents from the fragile economies of the coastal towns. The Spanish government requires that any resident with an overseas asset worth more than €50,000 and who lives in Spain at least six months (183 days) of the year is affected – and must declare what they own abroad." Continue reading →

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U.S. officials arrest Swiss banker on vacation

"U.S. officials have arrested a former UBS (UBSN.VX) banker working for the Swiss operations of Coutts, the private banking division of Royal Bank of Scotland Group Plc (RBS.L), sources told Reuters. The arrest comes as U.S. authorities crack down on tax evasion and has revived Swiss bankers' fears that they could face detention if they travel to the United States and are suspected of helping people hide money in offshore accounts. Coutts notified staff in Geneva on Friday that one of its private bankers had been arrested last week when he entered the U.S. for a vacation, a source familiar with the situation said." Continue reading →

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Junior mining stocks see record insider buying

"Those looking for even more evidence that corporate executives are smelling bargains in the junior mining sector should consider this: Insider buying on the TMX Venture exchange is near a record high. INK Research’s Venture indicator is at 715 per cent today, just 20 percentage points below its record peak of 735 per cent set on Oct. 27, 2008. That means there are more than seven stocks listed on the exchange with insider buying for every one seeing selling. Such a high level of buying interest among officers and directors within their own businesses in the resource sector has correctly foreshadowed a recovery in share prices in the past." Continue reading →

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Texas: Court Finds Breath Mints Are Evidence Of DUI

"Once stopped, there was a mild odor of alcohol in the Tahoe, the passengers denied drinking, and Richardson was nervous. Trooper Fulford told Richardson he would write him a warning for his failure to signal before changing lanes. When he returned from his squad car with a warning notice in hand, Trooper Fulford said he noted an 'overwhelming' odor of breath mints. 'Did you just take a breath mint?' Trooper Fulford asked. When Richardson said yes, he was ordered out of the Tahoe. From there, he was arrested and convicted of DUI." Continue reading →

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Dronebusters: Turning Spy Drones into Barney Fife

"An Oregon company says that it has developed a new technology which will prevent drones from 'completing their mission.' It will not say how this technology does this. It does not say what it will cost. But it claims that commercial units will be affordable for private homes. Whether local governments will place restrictions on its use, the way some states have made using car-based radar speed trap detectors illegal, also is yet to be seen. The important thing is that the company says the technology exists. There will probably be cheap Chinese knock-offs. The creativity of the free market works against the government. So does the basic incompetence of the government." Continue reading →

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