"What does psychological research reveal about people's perception of money and value? What mental barriers do Bitcoin adoptees need to overcome to help others welcome the new paradigm? Stefan Molyneux, host of Freedomain Radio, brings the latest scientific insights into the psychology of money and value to bear on the challenges of evangelizing Bitcoin to the masses!" Continue reading →
"The self-proclaimed government in Kiev is reportedly planning to cut pensions by 50 percent as part of unprecedented austerity measures to save Ukraine from default. With an 'empty treasury', reduction of payments might take place in March. Ukraine’s new prime minister, Arseny Yatsenyuk, promised the government would do its best to avoid a default, adding that he expects an EU/IMF economic stabilization package soon. The European Commission offered Ukraine an 11 billion euro loan if Kiev agrees a deal with the IMF. Accepting IMF money will mean many sacrifices for Ukraine’s economy, [such as] increased gas bills, frozen government salaries, and all around budget cuts." Continue reading →
"Savers eventually will have to pay for their current accounts, according to the new chief executive of Royal Bank of Scotland. Ross McEwan, the head of Britain’s second-biggest current account provider, said that free banking would come to an end because up-front fees were more transparent. RBS had no plans to scrap free banking, but he cast the eventual adoption of a fee-based system in the context of making banks more straightforward for customers. He said in a weekend interview: 'I think [the end of free banking] is something that will be addressed in the marketplace.'" Continue reading →
"The military escalation in Ukraine has had dire consequences for the financial state of the country, its banks, and ultimately its people. The central bank promised to rescue domestic banks so long as they agreed to its complete control and it appears the first consequences of that 'we are here to help you' promise is coming true. Privatbank is Ukraine's largest bank and while claiming this move is temporary (just like Cyprus' capital controls), the bank has also ceased new loans amid what it calls 'geopolitical instability'. In summary, you can't have your money back! Expect long angry lines at Ukrainian banks on Monday morning." Continue reading →
"Most empires were financed on the loot captured from their conquered opponents. But the US Empire depends not on generals, but on bankers. Bernanke – the 'Hero of ’08' – kept the credit flowing at a crucial moment… He kept the empire on schedule… and on target… for its rendezvous with disaster. [..] Debt has its lifecycle. So do empires. Both expand. Then both… without exception… contract. An empire funded by debt is an especially ungainly, grotesque thing. It lurches from one disaster to another – going deeper and deeper into debt each time. But it is not the debt that kills empires. Debt is just a razor conveniently left on the side of the tub." Continue reading →
"The Bank of Greece issued a brief statement on 11th February warning citizens of the potential risks associated with virtual currencies, such as bitcoin. Citing past statements from the European Banking Authority, the release included introductory information meant to guide consumer decision-making, as well as material that further informed readers of the potential tax implications and legal consequences associated with the use of virtual currency. The announcement comes after a string of similar remarks from other European central banks, such as the Central Bank of Lithuania and the Central Bank of Cyprus, which both issued statements to raise awareness of the potential risks." Continue reading →
"Don’t be persuaded by the theory that the dollar is invulnerable … that inflation is dead … or that none of this really matters. Above all, don’t let anyone talk you out of protective investments. Indeed, the same investments that can help shield you from the consequences of the Fed’s folly also have the potential to deliver some of the greatest profit bonanzas of this era. Our editors are continually scouring the globe for the best opportunities at the best time. Today, I want to set the stage by taking you on a tour through time — to help you experience the consequences of central bank money printing … and to see the fortunes that can be lost, or made, as a result." Continue reading →
"The former chairman of the Dutch Libertarian Party, Toine Manders has been kidnapped in Cyprus by the FIOD (the Dutch IRS) and is currently locked away in the Netherlands in complete isolation (aside from his lawyer), in an undisclosed location. He is being held for an extended 90-day period, the charges for which are unknown. Toine Manders began his career by giving legal advice to young Dutch men who wanted to avoid military conscription. Toine Manders had attracted special attention from the government by running controversial ads that stated 'Taxation is theft', and that it was people’s moral duty to pay as little in taxes as possible, as the government is a criminal enterprise." Continue reading →
"In the US, as in Japan, QE does not help stimulate a real recovery. But it does help simulate one. House prices are up (thanks, in part, to ultra-low mortgage rates). The middle class has more 'wealth' (albeit the paper kind) due to gains in their stock market portfolios. The rich are feeling fat and sassy, too. The Fed can continue modest tapering. But this is likely to produce a selloff in the stock market. Then the Fed will stop tapering. But it will be too late to reverse the damage to equities. They will go down for many years… bringing us even closer to the Japanese model. Our guess now is that this situation will persist for a few years." Continue reading →
"It was the Central Bank of Jordan’s (CBJ) turn to issue a digital currency warning this week, advising the public of the risks associated with the use of the financial tools, and blocking financial companies from engaging in bitcoin business. The Bank’s executive director of its payment services department, Maha Bahu, told The Jordan Times that the Kingdom’s banks, financial companies, payment processors and currency exchangers had also received a circular 'prohibiting them from dealing with virtual currencies, particularly in bitcoins'. She said the CBJ had been 'following the issue of bitcoin very closely over the past two months'." Continue reading →