Ash Heap Of History

‘Paradigm shift’: Bitcoin to replace ‘broken’ government currencies?

"The Bitcoin virtual currency is up 24.5 percent in 24 hours, touching a new record of $619. The surge is 'the beginning of something spectacular,' with it potentially displacing the dollar, Jeffrey Tucker of the Foundation for Economic Education told RT. 'I think, that’s not a bubble, it represents a substantial paradigm shift,' Tucker said, commenting on the latest boom of the anonymous crypto currency. 'In fact $600 per bitcoin might be a thing of history, we might get it much –much higher,' the expert added. 'The bottom line is that the government currencies are broken at the moment, they don’t meet the modern needs of an internet age and Bitcoin does,' Jeffrey Tucker explained." Continue reading →

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Jeffrey Tucker: Has the Fed Met Its Match?

"'It is hard to imagine a world,' says the unimaginative study, 'where the main currency is based on an extremely complex code understood only by a few and controlled by even fewer, without accountability, arbitration, or recourse.' Blink, blink. This is the Fed talking here. Talk about complex. When the Fed governor speaks in Congress, he (soon she) speaks in such a blithering array of econ-babble that no one dare respond, for fear of seeming ignorant. It’s like the first day of an Intro to Physics class. The professor asks if there are questions, and everyone sits in terror. In a half-century of this nonsense, only Ron Paul ever really dared to ask serious questions of the Fed." Continue reading →

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The Invisible Plumbing Of Our Economy

"It turns out the money collected on Kickstarter is handled by Amazon. Great, we figure: This is the company that will sell you anything on the planet and get it you you the next day. And what we need in this case isn't even a thing, really. We just need Amazon's bank to send money electronically to a checking account at Chase bank. It's just information traveling over wires. How long could it take: A minute? An hour? It took five days. On today's show: Why the invisible pipes that move money around America are so slow. (And why the ones in England are so much faster.)" Continue reading →

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Why the Higher Education System Is Unsustainable (i.e. Doomed)

"That which is unaffordable is unsustainable and will go away. The current system of higher education is profoundly unaffordable: it exists on an immoral foundation of student debt--$560 billion of which is Federal. Enormous expansions of student debt are required to keep the current system of higher education afloat. This chart shows the insane trajectory of Federal student debt. But unaffordability is only one reason why the present system of higher education is unsustainable. Despite the good intentions and hard work of individuals, these systems are broken. Due to their size and structure, large systems such as national defense, healthcare and education limit the impact of individual initiative." Continue reading →

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The Smartphone Wars: Nokia gives it up for Microsoft

"If Elop was a mole, what were his instructions? 'Elop. Go forth. Destroy Nokia so we can buy things we already effectively control for huge amounts of money.' I’m put in mind of the wave of mergers in the 1980s among mainframe computer manufacturers, what we called at the time 'dinosaurs mating'. Those didn’t make any sense either; when you merge two huge, doomed, inefficient thunder-lizards together you don’t tend to get a mammal. Meanwhile – and of course – Android continues to stomp its competition flat. Even the post-Jobs Apple can’t stem the tide; it’s pretty close to the 10% niche market share I predicted back in 2009 already, with no sign that trend will or can be reversed." Continue reading →

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When Dominance Leads to Incompetence and Catastrophe

"It's rather staggering to list Microsoft's failures over the past decade. The strategy that worked in the 1990s--copy rivals and add more features to the copycat products and services--is no longer working. Dominance in any space breeds complacency and enables the luxuries of political squabbling, sclerosis and loss of focus. Competence becomes incompetence, and the infrastructure that fosters creativity and flexibility--that is, a keen appreciation of risk and spontaneity--is slowly dismantled. That applies not just to corporations but to governments, nations and empires." Continue reading →

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Canadian billionaire predicts end of US Dollar as world’s reserve currency

"Canadian billionaire businessman Ned Goodman predicts the end of the U.S. Dollar as the world's reserve currency. He predicts the transition out of the U.S. Dollar will become, '...quite ugly.' He delivered the lecture at Cambridge House's Toronto Resource Investment Conference 2013 on Thursday, September 12, 2013." Continue reading →

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Fighting marijuana … or reality?

"Americans are becoming deaf to the critics of pot legalization. Their hyperbolic claims about the dangers of pot -- along with the realistic ones -- are being dismissed by a justifiably cynical public. Anti-marijuana propaganda isn't stopping the march toward national legalization, but the opposition is losing its voice as it screams about the falling sky. A majority of Americans favor full legalization. So why can't the opposition discuss these problems realistically? It's simple: Because the only rational conclusion is that the dangers of pot are not sufficient to warrant its prohibition. Yet those who have an ideological opposition to legalization appear immune to reason." Continue reading →

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Drug-Sniffing Dogs Pose a Problem in States That Legalized Marijuana

"Police in Tacoma, Wash., aren’t ready to retire their four-footed marijuana sniffers. 'There are several instances where marijuana is still illegal,' says officer Loretta Cool. 'If you are under 21, you cannot possess marijuana. If you have more than an ounce, it’s illegal.' But half an hour north in Seattle, police have stopped teaching drug dogs to recognize pot. 'There’s constant training to make sure their sniffers are up to snuff, where we use real drugs from evidence and a dog is rewarded for sniffing it out,' says Sergeant Sean Whitcomb, a spokesman for the Seattle Police Department. 'Marijuana is not something they are training on—that skill is no longer being reinforced.'" Continue reading →

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Fed Warns of ‘Escalating Threats’ to U.S. Payment System

"The central bank oversees the nation's payment system. The Fed is seeking public comments on the weaknesses of the system, including its inability to process transactions in near-real-time. The U.S. lags behind other countries in the speed of transactions, the Fed said. 'In a world where several other countries are moving to ubiquitous near-real-time retail payment systems, the U.S. payment system does not have this capability,' according to the paper. The central bank also said 'cross-border payments from and to the United States are slow, inconvenient, costly and lack transparency regarding fees and timing.'" Continue reading →

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