Whenever a bill to allow industrial hemp farming – note, this is different than marijuana legalization – comes up in a state legislature, the leading opponents are generally law enforcement groups. These police lobbies almost always base their opposition on flawed logic and outright falsehood. A recent conflict between marijuana growers and hemp farmers in…
"Capital controls imposed by the Greek government mean that Greek citizens can only withdraw 60 euros (effectively 50 euros after ATMs have run out of 20 euro notes) and online payment service, PayPal, has been left crippled, as a result. PayPal relies on the traditional banking sector and credit card industry for all its transactions to flow. Fact is, there is an old-style bank that underpins nearly every finance tech start-up that purports to threaten and disrupt the old guard. Examples are peer-to-peer lending platforms such as Prosper and Lending Club. Neither company holds the loans they award on their own balance sheets, but, instead, acquire the funds from WebBank, Salt Lake City, Utah." Continue reading →
"China created Unionpay 13 years ago to serve as its own interbank for payments. The unique benefit of Unionpay is that is controlled by the People’s Bank of China and has no relation to the western banking system. In fact, the Russian government is using the system while they build their own payment system to get away from western systems. One Russian billionaire commented that he got a Unionpay-backed card to protect himself after US sanctions were imposed on Russia. You can get a Unionpay card by opening a bank account in Mainland China. Interestingly enough, wealthy Chinese are even using Unionpay for capital flight out of Mainland China." Continue reading →
"West Coast venture capitalists see Visa as an oligopolistic dinosaur and are pouring hundreds of millions of dollars into rivals that use bitcoin. Meanwhile, banks, which collect the bulk of the fees from merchants, are warily eyeing Visa’s efforts to bypass them and forge direct relationships with retailers by offering one-click internet transactions and providing data on consumer behaviour that only Visa possesses. None of which seems to faze Visa’s chief executive, Charlie Scharf. In time, he says, would-be Visa disruptors all discover—just as internet upstarts PayPal, Square and Uber did—that it is simply easier and more economical to work with his leviathan than fight it." Continue reading →
At least five prominent Republican governors are advocating state resistance to Environmental Protection Agency (EPA) regulations regarding climate change and carbon emissions. If done by multiple states, this would likely nullify those EPA rules in practice. Buoyed by assistance from Senate Majority Leader Mitch McConnell, they are calling on states to deny enforcement resources for an anticipated regulatory plan from…
"The media incorrectly suggests that the collapse of the market in 2008 began with the Lehman bankruptcy on September 15. The fact is that the market fully recovered to even higher levels the following week as the government banned short selling of financial stocks (much like China is doing more broadly at present). Weeks later, in a wicked case of 'sell the news,' the actual collapse started literally 15 seconds after the TARP bailout was passed by Congress. Investors want to tie market outcomes to very specific events or catalysts. But history suggests a different lesson: once extreme valuations are joined by a shift toward risk-aversion among investors, the specific events become irrelevant." Continue reading →
The Supreme Court majority ruling ignored this long-term clarity and instead chose, as they did in 2013, to violate the document they are charged with upholding.
Video embedded Trump sell out crowd, Phoenix -- Silent Majority has risen once more! Source: http://thearizonasentinel.com/2015/07/12/trump-sell-out-crowd-phoenix-silent-majority-has-risen-once-more/
It happened in the blink of an eye. With one favorable Supreme Court decision, scores of libertarians joined establishment progressives and conservatives, picked up daggers and thrust them into the heart of the Constitution. It was bizarre watching people who used to talk about the evils of centralized government and federal usurpation of power suddenly…
Obama in 2024
Source post: http://thearizonasentinel.com/2015/07/12/america-in-8-years/