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A Propaganda War

“We’ve long imagined that only the state and its central bankers can issue money. The Bitcoin protocol directly challenges that notion. Most importantly, unlike similar inventions before it, Bitcoin can only be stifled. It can never be stopped. Its importance is unequivocal. As Bitcoin continues to spread globally, we, as a community, must grapple with a very challenging and unsettling question of principle: should Bitcoin actively engage the apparatus of state? Bitcoin is getting political. Parties are forming. unSystem, through its Dark Wallet, has ostensibly drawn a line in the sand. There is much at stake. A battle is now on for the protocol and the hearts and minds of we, the 99%.” Continue reading →

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Black Market Dollar Exchange Sparks Argentina Luxury Sales Crackdown

“Argentines who buy a car valued at more than 350,000 pesos ($58,600) will now be required to justify the transaction with the Financial Information Unit, the nation’s money-laundering watchdog, according to a Nov. 11 decree. Argentina is boosting its currency controls as consumers faced with 25 percent annual inflation turn to everything from luxury cars to gold and bitcoins as a store of savings. With the black market offering holders of undeclared U.S. currency 3.8 pesos more than the official exchange rate of 5.9764 pesos per dollar, demand for premium cars from Volkswagen AG’s Porsche and Bayerische Motoren Werke AG is causing a 33 percent jump in imports this year.” Continue reading →

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The Downturn in the Spot Gold Price

“Virtually from the day that Germany demanded to have its gold delivered back to the Bundesbank, three very clear phenomena have occurred: 1. The gold price, which had been trending sideways, has plummeted. 2. The physical gold held at the COMEX has been pouring out of the warehouses. 3. The amount of physical gold held by the ETFs has stopped rising and started falling. Fast. Coincidence? I very much doubt it.” Continue reading →

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Jeffrey Tucker: Has the Fed Met Its Match?

“‘It is hard to imagine a world,’ says the unimaginative study, ‘where the main currency is based on an extremely complex code understood only by a few and controlled by even fewer, without accountability, arbitration, or recourse.’ Blink, blink. This is the Fed talking here. Talk about complex. When the Fed governor speaks in Congress, he (soon she) speaks in such a blithering array of econ-babble that no one dare respond, for fear of seeming ignorant. It’s like the first day of an Intro to Physics class. The professor asks if there are questions, and everyone sits in terror. In a half-century of this nonsense, only Ron Paul ever really dared to ask serious questions of the Fed.” Continue reading →

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Bitcoin’s UK Future Looks Bleak

“It’s depressing that firstly key government departments have not apparently to the best of my knowledge even discussed this potentially revolutionary technology. It’s even more depressing that in a democratic society, discussion of policy regarding this technology is conducted in secrecy. HMRC’s VAT legislation is already outdated in many areas especially regarding online trade. My confidence that they will appear from behind these doors with legislation based on a firm understanding of Bitcoin is low. These responses also indicate glaring misunderstandings of what Bitcoin is, hilariously the Bank of England wrote back to tell me ‘There have been no meetings held at the BoE attended by Bitcoin’.” Continue reading →

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ObamaLoans Up by Almost 3 to 1

“The official goal of the Health Care and Education Reconciliation Act was to make college more affordable. How? By making loans to students. The effect has been to lure millions of students into long-term debt for the purchase of liberal arts degrees that do not lead to high-income jobs. ObamaLoans took loan-making decisions away from banks and placed this into the hands of federal employees at the Department of Education — bureaucrats with job tenure. The amount of student debt owed to the U.S. government in 2009 was $120 billion. Today, it is $675 billion. In July 2010, ObamaCare was passed. That’s when the loans began to multiply.” Continue reading →

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