Alternative News

Detroit Cancels City Blight Tour for Creditors

"Creditors of the city of Detroit aren't interested in the city blight, they want their money. Emergency Manager Kevyn Orr's office announced Tuesday afternoon that a bus tour of Detroit planned for 25 creditors who are being asked to forgive the city's debt has been cancelled, reports AllMichigan.com. Orr has been trying to get city creditors, who are owed billions, to accept massive concessions in order to prevent bankruptcy. And don't think Detroit is anomaly, crises are developing in other cities and some states." Continue reading →

Continue ReadingDetroit Cancels City Blight Tour for Creditors

House votes to uphold increased spending on ‘unneeded and unwanted’ nuclear bombs

"The DOE requested about $537 million for the B61 Life Extension Programs, but the GOP-led House Appropriations Committee provided $23.7 million more than the department asked for. In a report, the committee explained the nuclear program had its funding boosted because it had a 'troubling history of insufficiently planning for its ongoing production requirements.' Polis noted that the Air Force had recently doubted the effectiveness of the B61 nuclear bomb. A former vice chairman of the Joint Chiefs of Staff said the bomb was virtually useless, Polis explained. In addition, some European allies no longer wanted the bomb deployed in their country." Continue reading →

Continue ReadingHouse votes to uphold increased spending on ‘unneeded and unwanted’ nuclear bombs

British UKIP Convulsion Significant Threat to Tories

"One can make a case that both UKIP and the US Tea Party movement are the 'managed opposition,' at this point any way. But at the same time, their emergence obviously indicates that there is a larger social movement that has taken shape. If one feels the need to 'manage' something – as those at the top of society evidently and obviously do – it is because there is something that has emerged to begin with. And that something is obviously a deep dissatisfaction with many of the building blocks of modern society, from its military-industrial complex to its central banking economy and the regulatory democracy that flows out of vast government spending." Continue reading →

Continue ReadingBritish UKIP Convulsion Significant Threat to Tories

UPDATE: Adam Kokesh SWAT Raid Yields Multiple Felonies

"A SWAT raid on the property of Adam Kokesh was conducted late Tuesday night on July 9, resulting in the detainment of Adam until his next scheduled hearing where he faces multiple felony charges. Months prior to this year's 4th of July, Marine Veteran & Libertarian activist Kokesh has called for supporters of the right to armed self-defense to gather in Washington, D.C. to conduct a peaceful armed march. Thousands have reportedly signed up for the protest, which Kokesh says would be a non-violent exercise of the right to open carry." Continue reading →

Continue ReadingUPDATE: Adam Kokesh SWAT Raid Yields Multiple Felonies

Manhattan Law Firm Accepts Bitcoin

"On July 1, Nesenoff & Miltenberg LLP ('N&M') made the decision to give its clients the option to pay legal fees in Bitcoin. The full-service commercial law firm is among a few that offer legal services for businesses in the Bitcoin space. Led by attorney Marco A. Santori, who also serves as Chairman of the Bitcoin Foundation’s Regulatory Affairs Committee, Nesenoff & Miltenberg LLP is uniquely positioned to offer exclusive insight into the complex and evolving legal and regulatory issues surrounding Bitcoin commerce." Continue reading →

Continue ReadingManhattan Law Firm Accepts Bitcoin

300 Year Old Russian Watch Factory Raketa Accepts Bitcoins

"Just this week, Russia’s historical watch factory Raketa, began accepting Bitcoins. Raketa was founded in 1721 by Peter the Great and is the oldest factory in Russia. For almost 300 years, Raketa, formerly known as Petrodvorets Watch Factory, has produced and sold wristwatches to individuals in Russian and those around the world. Petrodvorets Watch Factory was renamed Raketa in 1961 to honor the World’s first cosmonaut Yuri Gagarin. Yuri was the first human to travel to outer space." Continue reading →

Continue Reading300 Year Old Russian Watch Factory Raketa Accepts Bitcoins

Portrait of a Bitcoin miner: How one man made $192K in virtual currency

"Eric has been mining Bitcoins since 2010, and at one point quit a high-paying job as a software engineer to devote all of his time to, figuratively speaking, extract gold from silicon. His move was bold and risky, but yielded an awesome reward: To date, Eric has accumulated 2500 bitcoins, which is worth a cool $191,900 as of this writing. (At Bitcoin’s highest exchange rate, that amount was $665,000.) He doesn't trade them and has no immediate plans to cash out. Instead, he's hanging on to them, and waiting to see how their value changes." Continue reading →

Continue ReadingPortrait of a Bitcoin miner: How one man made $192K in virtual currency

Japan Government To Change Inflation Calculation Ushering In Even More BOJ Liquidity

"The official explanation for this upcoming adoption of core-core-CPI which also excludes energy prices in addition to fresh food costs (as core CPI does everywhere else in the world) is to 'raise the bar' on Abe's inflation goal. In reality, it will simply grant the BOJ unlimited ammo to continue injecting liquidity indefinitely because absent exploding energy costs (as we have discussed), inflation in Japan is quite dormant. But what will really happen is that inflation will merely become just one more governmentally-determined and goalseeked economic indicator and policy tool, as it is in the US and China." Continue reading →

Continue ReadingJapan Government To Change Inflation Calculation Ushering In Even More BOJ Liquidity

Chinese Gold Rush Underway

"This featured chart depicts the explosion in Chinese gold imports from Hong Kong since January 2012, during which China imported an astonishing 1,206 tonnes of gold – 20% more than the nation's latest official gold holdings of 1,054 tonnes. In the first quarter of 2013 alone, China imported 372 tonnes from Hong Kong, or nearly what was imported through the entire first half of 2012." Continue reading →

Continue ReadingChinese Gold Rush Underway

Citi: “No Gold Company… Will Generate Free Cash Flow At Current Gold Prices”

"After updating their precious metals' company cost curve, Citi's ominous warning that, 'a combination of rising unit costs (15% yoy), sustained high capital budgets and a falling gold price have resulted in a fast contraction in margins - so much that no gold company under our coverage will generate Free Cash Flow at spot gold.'" Continue reading →

Continue ReadingCiti: “No Gold Company… Will Generate Free Cash Flow At Current Gold Prices”