The Path to $10,000 an Ounce Gold, Revisited

"Most traders, obsessed with the tiniest tweaks to the monthly rate of Fed printing, are missing the big picture: Credit growth has outpaced the economy’s productive potential, both here and around the globe. Each successive growth spurt in money and credit has a weaker marginal impact on the real economy; this requires permanently easy monetary policy, and perhaps, eventually, a formal devaluation of paper against gold. In his latest Gloom Boom & Doom Report, Marc Faber argues that the Fed has lost control of the bond market. Treasury note yields have doubled from the summer 2012 lows — a development that surely wasn’t part of the Fed’s stimulus playbook." Continue reading

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Precious Metals True To Form As Markets Wake To Reality

"As for PMs, the funds and other 'smart money' as well as retail investors took the news from the Fed to mean the USD will depreciate against hard assets of all kinds. PM gains of 10-15% were widespread within ninety minutes though most faded toward the close. September 16 nearly all issues gave back significant portions of their gains as the metals indicated that their roller-coaster nature had not gone away. With those postulates in mind, it is useful to look at some of the better companies in the sector to see how they fared the day after the QE go sign flashed. Price action is important in considering what horses you will ride." Continue reading

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Homeless, Unemployed, and Surviving on Bitcoins

"The internet provides the extra money he needs to buy a meal each and every day. Since setting up a bitcoin wallet about three or four months ago, he has earned somewhere between four or five bitcoins — about $500 to $630 today — through YouTube videos, Bitcoin Tapper, and the occasional donation. And when he does odd jobs for people around Pensacola — here in the physical world — he still gets paid in bitcoin, just because it’s easier and safer. He doesn’t have to worry as much about getting robbed. Jesse Angle isn’t your average homeless person. But he shows that bitcoin is changing the world in more ways than you might imagine." Continue reading

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Swiss socialist politician asks government to create report on bitcoin

"Jean Cristophe Schwaab of the Swiss Socialist Party said he is concerned about the potential of bitcoin. 'At the moment, I have no idea, but a Swiss journalist recently bought drugs from Silk Road using bitcoins, so I think the state needs to make an intervention,' he added. The 34-year-old said bitcoin came to his attention because he has a strong interest in internet policy, data protection and new online trends. He has also come across bitcoin in his work as a unionist for bankers – he is on the executive board of the Swiss Bank Employees’ Association. He said the only people in Switzerland who know about bitcoin are 'geeks, criminals and special police units'." Continue reading

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Gliph Raises $200,000 To Expand Secure Messaging And Bitcoin Features

"Gliph began in early 2012 as an encrypted messaging app, focused on securing communications across iPhone, Android and web users, protecting all messages with SSL and/or AES-256 encryption. The service also offers the ability to reveal only as much personal information as desired with communication partners, using symbols – or ‘artifacts’, as the company calls them – as the primary personal identifiers. More recently, Gliph has added a number of bitcoin functions to seamlessly transact in the digital currency. Users can link existing wallets from a number of popular options including BIPS, Blockchain.info, or Coinbase." Continue reading

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Journalism professor says he hopes for murder of NRA members’ children

"A journalism professor at the University of Kansas (KU) turned to Twitter on Monday to suggest he would like to see the murder of children of National Rifle Association (NRA) members at the hands of a deranged gunman. A journalism professor has defended tweets he sent out which called for the death of NRA employees children. '#NavyYardShooting The blood is on the hands of the #NRA,' tweeted David Guth, who is an associate professor of Journalism at the university’s William Allen White School of Journalism. 'Next time, let it be YOUR sons and daughters, he continued. “Shame on you. May God damn you.'" Continue reading

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Rep holds up vodka and steak on House floor to shame food stamp opponents

"Rep. Jackie Speier (D-CA) on Thursday held up steak, vodka and caviar during her House floor speech in an effort to shame Republicans who want to slash $40 billion from the food stamp budget, while they continue to go on 'lavish' trips financed by taxpayers and other groups. Earlier this month, House Republicans introduced a bill that caved to conservative members and doubled the amount of cuts the party was proposing to the Supplemental Nutrition Assistance Program. 'They dine at lavish restaurants, eating steak, vodka and even caviar,' she added, showing food props to members of the House. 'They receive money to do this. That’s right, they don’t pay out of pocket for these meals.'" Continue reading

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Ohio cop on paid leave after threatening handcuffed family with Taser

"Police in Washington Township, Ohio are investigating an officer’s conduct after footage surfaced online of him waving his Tazer at two people already handcuffed on the ground and seemingly grabbing a teenage boy during a traffic stop. The Toledo Blade reported on Wednesday that Officer Eric Hart was on paid leave while his department investigates his encounter on Sunday with Aaron Tatkowski, his daughter-in-law Cassandra Meyers, and Meyers’ 14-year-old son. The description for the video contends that Hart blocked Tatkowski’s driveway while stopping Meyers, and that the confrontation began after Tatkowski asked Hart to move his vehicle." Continue reading

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