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Bitcoin Awareness Grows in South Korea After Central Bank U-turn

“Kevin Lee is a Seoul-based bitcoin entrepreneur and CEO of BitcoinKorea, South Korea’s first bitcoin business and portal. He has traveled around Asia attending bitcoin-related conferences and meetups, and wants to be instrumental in promoting its use in his native land. He thinks South Korea’s need for digital currency options are similar to China’s: a way to diversify investments and find a way around capital controls. Lee, a friend of Asia-based bitcoin missionary Roger Ver, said the pair will tour South Korea from 8th to 23rd January to spread the word – talking to major news organisations and helping to introduce Kraken, an exchange that launched in the country just last Friday.” Continue reading →

Bank of Korea Relaxes Negative Stance on Bitcoins

“The BOK said on December 3 that it made a report on bitcoins and is pondering a measure to open the virtual money to the public. The report however includes a negative opinion on the possibility of its use as a future currency. There are no stores in Korea that accept bitcoins except Korbit, which was established in April this year, specifically to facilitate trading in bitcoins. Bitcoins are only used for investment purposes, not for the trade of goods. Under such circumstances, a Paris Baguette in Incheon City started to accept bitcoins and developed a tablet application for bitcoin settlement.” Continue reading →

Impeachment has moved from the back burner to the front. Now its time to turn up the heat!!!

click on this link: sign the petition to impeach Barry Soetoro/Barack H Obama.
http://www.wnd.com/wnd_petition/petition-urging-congress-to-impeach-president-barack-obama/

Argentina Raises Tax on Foreign Credit Card Purchases to 35%

“President Cristina Fernandez de Kirchner’s government is raising taxes on credit card purchases abroad in a bid to stem the drop in Argentina’s international reserves to their lowest levels since December 2006. The government raised the the tax charged on credit card purchases in foreign currency to 35 percent from 20 percent, according to the Official Gazette. Argentina’s dollar reserves have plunged 29 percent this year to $30.9 billion as the government uses the funds to pay international debt and import energy, while Argentines take advantage of a strong official rate for the peso to spend abroad. The official rate is 6.2 pesos, while the black market rate is 9.2.” Continue reading →

Small Banks Disappear. So Do Loans to Small Businesses.

“The number of banks is down to just under 6,900. There were 7,000 a year ago. Banking regulation adds to costs. This wipes out small banks. It subsidizes big banks. Which banks caused the crisis of 2008? Large banks. Which banks got the lion’s share of the bailouts from Congress and the Federal Reserve? The top 6 banks. The crisis made them bigger, more powerful. The bailouts were subsidies for failure. Which banks hold 70% of all bank assets? The top 12 banks. Who loses? Small businesses. They get loans from small banks. Which businesses provide the vast majority of new jobs? Start-up businesses.” Continue reading →

London Gold Fix Calls Draw Scrutiny Amid Heavy Trading

“Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal. The U.K. Financial Conduct Authority is scrutinizing how prices are set in the $20 trillion gold market, according to a person with knowledge of the review who asked not to be identified because the matter isn’t public. The process, during which gold is bought and sold, can take from a few minutes to more than an hour. The participants also can trade the metal and its derivatives on the spot market and exchanges during the calls.” Continue reading →

15 new UK banks in five years, predicts Metro founder

“Mr Thomson, backed by US banking entrepreneur Vernon Hill, launched Metro Bank in 2010. It was the first award of a new full banking licence since the 19th Century, underlining the barriers to entry that new competitors face. New entrants to the market have failed to loosen the grip of the ‘Big Five’ banks, which includes the taxpayer-owned Lloyds-Halifax brands and RBS-NatWest. It was announced in March that new applicants for UK banking licences would face more ‘relaxed’ demands on the amount of capital they hold as part of plans to reduce barriers to entry and stimulate competition.” Continue reading →

Dutch Bank Rabobank is Blocking Customers from Buying Bitcoins

“In the US many banks don’t accept any bitcoin businesses as clients, possibly because of regulatory concerns and money laundering risks. Individuals aren’t free from bitcoin banking issues either. CoinDesk reported recently that a Swedish bank froze a customer’s account for selling just 5 BTC. Now it is the Netherlands’ turn. According to an article in the Dutch press, Rabobank cancelled 99% of its customers’ transactions with bitcoin exchanges on Tuesday and Wednesday. Rabobank did not give a reason for this, but a spokesperson for Dutch bitcoin exchange BTCNext said it was because transactions are seen as potential fraud.” Continue reading →