Alternative News

David Stockman: There are Bubbles All Over, Hide in Cash

"Stocks seem like a pretty good place to be? 'That’s what they told me in late 2007 and early 2008,' Stockman says in response. 'About seven months later people had lost 45% to 70% of their net worth. If you were in the Russell 2000, which is where Bernanke wants you, you were crushed – it dropped by 60% within 15 trading days.' As for his advice to hide in cash he says, 'I would rather have capital preservation, be safe. I don’t think another two, four, 10 percent is worth losing 50, 60, 70 percent when the crash comes.'" Continue reading →

Continue ReadingDavid Stockman: There are Bubbles All Over, Hide in Cash

Economists Suggest The Federal Reserve Pump Money Directly Into Americans’ Bank Accounts

"Ben Bernanke himself famously argued years ago that a central bank should never run out of tools for fighting deflation and depression because, as a last resort, it could always drop cash out of helicopters. That would be fun to watch, obviously, but mailing checks would be a lot simpler. And even though it sounds a little insane, it becomes a more and more compelling idea the more you think about it." Continue reading →

Continue ReadingEconomists Suggest The Federal Reserve Pump Money Directly Into Americans’ Bank Accounts

So, What’s It Like To Have a Business in Cyprus Right Now?

"The most of circulating assets on our business Current Account are blocked. Over 700k of expropriated money will be used to repay country's debt. Probably we will get back about 20% of this amount in 6-7 years. I'm not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation. The business is definitely ruined, all Cypriot workers to be fired. We are moving to small Caribbean country where authorities have more respect to people's assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners." Continue reading →

Continue ReadingSo, What’s It Like To Have a Business in Cyprus Right Now?

Another Warning Sign – NY Times Columnist Favors Capital Controls

"Krugman doesn't see irresponsible government spending and the resulting debt as the core cause of recent crises in Europe and around the world. Instead, he blames inflows of money by undefined foreigners. He even says that the US, too, is victimized by inflows of foreign money when he claims, 'It's not just Europe. In the last decade America, too, experienced a huge housing bubble fed by foreign money.' According to Krugman, it's not the fault of the Federal Reserve's artificially low interest rates for blowing up the housing bubble, nor the proliferate spending habits of European welfare states for causing the debt crisis." Continue reading →

Continue ReadingAnother Warning Sign – NY Times Columnist Favors Capital Controls

Russia to ban cash transactions over $10,000

"The move is expected to boost banks’ cash reserves and put a damper on Russia’s shadow economy. However, the middle class will most likely end up having to pay the price for the scheme. In 2014, a ban on cash payments for purchases worth more than 600,000 rubles (about $19,500) will be introduced; the limit will then be halved in 2015. Furthermore, the document introduces mandatory, cash-free, salary payments. Smaller companies with fewer than 35 employees will be the only exception, and trade companies will be able to pay salaries in cash if they employ no more than 20 people on staff." Continue reading →

Continue ReadingRussia to ban cash transactions over $10,000

Jeffrey Tucker: Bitcoin’s Moment

"The Cyprus disaster sets in place an incredible precedent: Bank deposits will hereafter be treated as government property first and belong to the depositors only at the discretion of the masters of the money. It’s no wonder that Bitcoins are being brought from locales all over Europe, including Spain, Greece, Italy, and beyond. This also accounts for why mainstream news outlets are starting to write about Bitcoin as if it were the real thing, something serious, something that really matters on the world stage. Meanwhile, Bitcoin applications are flourishing all over the Web." Continue reading →

Continue ReadingJeffrey Tucker: Bitcoin’s Moment

As Feds Suggest ‘Guidance,’ Bitcoin Foundation Pushes Back

"The Bitcoin Foundation, which is devoted to standardizing and promoting the currency, didn’t like FinCEN’s guidance. As Patric Murck, the organization’s general counsel, wrote in a March 19 blog posting: 'Simply put, under the Administrative Procedures Act (APA), FinCEN can’t promulgate new rules without going through a notice and comment proceeding whereby the public may have their voices heard. If FinCEN would like to expand its statutory authority over ‘money transmitters’ to include brand new categories such as ‘administrators’ and ‘exchangers’ of digital currency it must do so through proper rulemaking proceedings and not by fiat.'" Continue reading →

Continue ReadingAs Feds Suggest ‘Guidance,’ Bitcoin Foundation Pushes Back

Casascius Physical Bitcoin: Orders now accepted by invitation only

"On April 1, 2013, I stopped accepting orders for Casascius Coins from the public. I switched my website so orders can only be placed by resellers with prior invitation. I recommend and encourage sales of Casascius Coins by resellers. Over the last month, Bitcoin has become a lot more interesting to the world. Bitcoin prices have skyrocketed. Interest in Casascius Coins has increased substantially for multiple reasons that are seemingly working as a 'force multiplier'. While I’m very excited to see this has happened, for me to be able to satisfy the market demand for Casascius Coins, I will have to make some major changes to the way they are made and shipped." Continue reading →

Continue ReadingCasascius Physical Bitcoin: Orders now accepted by invitation only

Whose “Provocative Actions”?

"March 28 2013 - US sends nuclear-capable B-2 bombers to SKorea; March 26 2013 - U.S. Army learns hard lessons in N. Korea-like war game; March 20 2013 - U.S. flies B-52s over South Korea; March 19 2013 - S. Korea, U.S. carry out naval drills with nuclear attack submarine; March 17 2013 - Troops remember sacrifices of Cheonan sailors; March 12 2013 - First day of SK-US military exercises passes without provocation; March 8 2013 - Air Assault Course increase 2ID capabilities; March 8 2013 - 'Frozen Chosen' Marines; March 6 2013 - S. Korea says it will strike against North’s top leadership if provoked." Continue reading →

Continue ReadingWhose “Provocative Actions”?

New York: Judge Rules Against Use Of X-Rays During Traffic Stops

"A motorist cannot have his car taken to a border station to be x-rayed based on a window tint violation, a federal judge ruled on Friday. US District Judge Richard J. Arcara allowed a lawsuit to proceed against the Niagara County, New York Sheriff's Department in the wake of an April 28, 2009 traffic stop where motorists who had done nothing wrong were detained by police for more than three hours." Continue reading →

Continue ReadingNew York: Judge Rules Against Use Of X-Rays During Traffic Stops