Domain for Mintchip from the Royal Canadian Mint has expired
"Looks like the MintChip domain from the Royal Canadian Mint has expired: http://mintchipchallenge.com/ ? Guess they have abandoned ship..." Continue reading →
Peter Schiff & Max Keiser talk of greatest Ponzi of our time
"In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss drinking the kool aid (never mind the cyanide) while the young and unemployed of Ireland are encouraged to emigrate by government economists determined to flatter their Troika stats. In the second half, Max interviews author and investor, Peter Schiff, about inflation in fraud as governments want a cut of financial crimes and the trickle down monetary policy ponzi scheme." Continue reading →
The Fed is Killing the Middle Class
"I walked into a Subway sandwich shop and noticed a big change in the menu. I noticed that the list of sandwiches in its $5 menu keeps shrinking. Pretty soon, Subway will have to come up with a new name for its menu. This is also happening at other fast-food restaurants. In January, Wendy’s turned its $0.99 menu into a 'Right Price, Right Size' menu. And, recently, McDonald’s announced it’s turning its $1 menu into a 'Dollar and Up' menu. These price hikes seem like inconsequential changes. But they represent something bigger … Without its $1 menu acting as an anchor, McDonald’s is now free to start passing along its higher input costs to consumers in the form of rising prices." Continue reading →
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 HMRC's VAT legislation is already outdated in many areas especially regarding online trade.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 →
‘Without third party bitcoin is safer than Fed notes’
"WM: What we see in the world today with the libor crisis, and Greece, and the failure in Cyprus is regulation does not work. You have regulatory capture, you just have system failure. And the thing that makes bitcoin exciting for people that believe in bitcoin is the fact that it is an emergent system. If it does require regulation to survive then it really wasn’t as good as we thought it was. These sorts of things do happen. You can call this a bank. I would say this is a hosted service run by an 18-year-old. It is not a bank. The people who trusted the third party were really giving away the strength of bitcoin which does not require a third party." Continue reading →
Where’s the Crisis That Requires Crisis-Era Monetary Policy?
"There simply isn’t one, no matter how much the Federal Reserve apologists try to justify the most aggressive quantitative easing since the 2008 crash. Look at initial jobless claims. Look at job creation. Look at GDP growth, or confidence, or anything else. None of these economic indicators are near or at the depths seen in 2007-2008 when the economy and credit markets were crashing. Then there’s the ISM manufacturing index, a benchmark survey of economic activity that has been conducted since 1948. This is no minor report, it’s right up there with the monthly jobs survey in terms of importance. And the story it’s telling is very important as far as I’m concerned." Continue reading →
JPMorgan’s $13B Penalty Helps IRS Deal A Huge Blow to Homeowners
"Here’s an illustrative example. Say an individual Detroit homeowner earning $40,000 a year gets a principal reduction of $100,000, roughly the average principal reduction in the National Mortgage Settlement, a previous deal that offered consumer mortgage relief as part of a penalty for bank misdeeds. In the tax year 2014, that homeowner would record an income of $140,000, and their resulting tax bill, according to this calculator, would be $29,693, or nearly three-quarters of the homeowner’s annual income. Homeowners struggling to stay in their homes typically do not carry large amounts of cash reserves to pay off tax bills; they wouldn’t be desperate for mortgage debt relief if they did." Continue reading →
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 →
Premeditation of Currency Wars
"The BRICs system of finance is entirely Western, starting with its central banking and continuing via its banking interests that are inevitably part of the larger fabric of Anglosphere finance. If those in charge of Western finance really did not want the BRICs – including China – to create an alternative to the dollar, it likely wouldn't happen. But it is happening. The dollar has been destabilized and the BRICs and China offer alternative currencies that are supposedly seen as 'stronger.' Jim Rogers, for instance – a respected voice in commodities and a commentator we've often interviewed – believes the yuan could appreciate 500 percent against the dollar in the next few years." Continue reading →
The Rise and Fall of the World’s Largest Bitcoin Exchange
"Mt. Gox evolved into a reliable marketplace for buying and selling bitcoins, now the world’s most popular digital currency. By one estimate, Karpeles has made over $8 million plus 345,000 bitcoins (at current rates: $86 million) swapping bitcoins for dollars and yen and other federal currencies. Karpeles and his company are a metaphor for the bitcoin world as a whole. Created by an anonymous computer scientist, the digital currency rose to prominence after it was embraced by software geeks across the globe. But now, as its influence continues to grow, these young, idealistic hacker types are running into the government regulators who control the existing financial system." Continue reading →
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