Alt/Indie News

Bitcoin Exchange Loses $60M In Hack; US Regulations ‘Prevented Cold Storage Use’

"Bitfinex was previously fined $75,000 by the CFTC for failing to register as an appropriate entity for the services it offered as well as: '[F]or offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies.' These 'off-exchange' transactions could be alluding to the storage of funds offline — commonly known as cold storage — one of the best ways to keep your funds out of hackers’ reach. If this is indeed the case then the incident could undermine calls for more regulation as cryptocurrency exchanges face a dilemma between security and compliance." Continue reading →

Continue ReadingBitcoin Exchange Loses $60M In Hack; US Regulations ‘Prevented Cold Storage Use’

Norway’s Biggest Bank Demands Cash Ban

rivacy advocates in Norway have expressed worries for years that, without cash, there would be no way for an individual to purchase something without being tracked. In 2014, Finans Norge, a financial industry organization in Norway, said the country was on pace to be a cashless society by 2020, Ice News reported. While DNB said its proposal will take time to complete, executives suggested the country start phasing out cash by discontinuing the 1,000 kroner note so it could focus on updating its banking system. Continue reading →

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Audit the Fed Legislation Sinks: Plan Accordingly

"Rand Paul and Ron Paul, the dynamic duo of anti-Fed forces, invested a lot of time and money trying to get that legislation passed. But even if it reached Barack Obama's desk, it would have been vetoed. Of course, the Fed pushed back against the legislation. Fed Chairman Janet Yellen penned a letter to senators before the vote claiming that the legislation would deprive the Fed of necessary independence. She also noted that passing the legislation might generate an inflation scare and cause interest rates to rise. One wonders if this was a subdued threat." Continue reading →

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Ron Paul Says to Watch the Petrodollar

"From 1972 to 1974, the U.S. government made a series of agreements with Saudi Arabia. These agreements created the petrodollar system. The U.S. government chose Saudi Arabia because of its vast petroleum reserves, its dominant position in OPEC, and the (correct) perception that the Saudi royal family was corruptible. In essence, the petrodollar system was an agreement that the U.S. would guarantee the survival of the House of Saud. It’s hard to overstate how much the petrodollar system benefits the U.S. dollar. It’s allowed the U.S. government and many Americans to live beyond their means for decades." Continue reading →

Continue ReadingRon Paul Says to Watch the Petrodollar

Hillary Emails Reveal Propaganda, Executions, Coveting Libyan Oil and Gold

"Historians of the 2011 NATO war in Libya will be sure to notice a few of the truly explosive confirmations contained in the new emails: admissions of rebel war crimes, special ops trainers inside Libya from nearly the start of protests, Al Qaeda embedded in the U.S. backed opposition, Western nations jockeying for access to Libyan oil, the nefarious origins of the absurd Viagra mass rape claim, and concern over Gaddafi’s gold and silver reserves threatening European currency." Continue reading →

Continue ReadingHillary Emails Reveal Propaganda, Executions, Coveting Libyan Oil and Gold

Societé General Strategist: Yellen’s Dithering Fed Is Destined for Infamy

"The Federal Reserve’s failure to recognize its role in driving the third dangerous asset bubble in 15 years will destroy the central bank’s reputation for good, said Albert Edwards, global strategist at Societe Generale. Edwards said it’s too late to avoid another massive collapse in asset prices. 'This time the Fed’s largesse has fueled another corporate debt explosion,' he said. 'The real rate of corporate borrowing is even greater than was seen during the late 1990s tech bubble. This is 100 percent attributable to the Fed’s excessively loose monetary policy.'" Continue reading →

Continue ReadingSocieté General Strategist: Yellen’s Dithering Fed Is Destined for Infamy

China Launches Frightening ‘Social Credit’ Game; Soon Mandatory

"'Going under the innocuous name of Sesame Credit, China has created a score for how good a citizen you are,' explains Extra Credits’ video about the program. 'The owners of China’s largest social networks have partnered with the government to create something akin to the U.S. credit score — but, instead of measuring how regularly you pay your bills, it measures how obediently you follow the party line.' In the works for years, China’s ‘social credit system’ aims to create a docile, compliant citizenry who are fiscally and morally responsible by employing a game-like format to create self-imposed, group social control. In other words, China gamified peer pressure to control its citizenry." Continue reading →

Continue ReadingChina Launches Frightening ‘Social Credit’ Game; Soon Mandatory

Et Tu, Brute? (How Empires Die)

"The state-owned Bank of China has been ordered by an American court to hand over customer information to the US. The bank has refused to comply, as to do so would violate China’s privacy law. The US court has subsequently ordered the Bank of China to pay a fine of $50,000 per day. China is a sovereign nation, halfway around the globe from the US, yet the US seems to feel that it’s somehow entitled to set the rules for China. All over the world, those who live outside the US are increasingly observing that the US has become so drunk with power that they’re threatening both friend and foe with fines, trade restrictions, monetary sanctions, warfare, and invasions." Continue reading →

Continue ReadingEt Tu, Brute? (How Empires Die)

Ben Bernanke Was Incredibly, Uncannily Wrong [2009]

"We now have the diametrical opposite of the famous 'Peter Schiff Was Right' video (a compilation of 2006 and 2007 clips in which Schiff, a financial expert who subscribes to Austrian economics, predicted the deep recession that would follow the bursting of the housing bubble). The new, opposite video is a compilation of the 2005–2007 prognostications of Federal Reserve Chairman Ben Bernanke. In it, Bernanke is shown to have been just as embarrassingly wrong as Schiff was uncannily right. Could their differences in economic understanding have anything to do with this remarkable dichotomy?" Continue reading →

Continue ReadingBen Bernanke Was Incredibly, Uncannily Wrong [2009]

Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens

"With Citi's chief economist proclaiming 'only helicopter money can save the world now,' and the Bank of England pre-empting paradropping money concerns, it appears that Australia's largest investment bank's forecast that money-drops were 12-18 months away was too conservative. Over the last few months, in a prime example of currency failure and euro-defenders' narratives, Finland has been sliding deeper into depression. As The Telegraph reports, this is a deeper and more protracted slump than the post-Soviet crash of the early 1990s, or the Great Depression of the 1930s. And so, having tried it all, Finnish authorities are giving every citizen a tax-free payout of around $900 each month!" Continue reading →

Continue ReadingDesperate Finland Set To Unleash Helicopter Money Drop To All Citizens