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The World’s First $1 Million Bitcoin Mining Auction

"A bitcoin mining company just sold more than $1,000,000 worth of hardware. ASICMiner is a publicly traded bitcoin company that both operates and sells bitcoin mining hardware. In their latest auction they successfully sold 180 ASIC mining blades for 49.99 bitcoins (BTC) each. Friedcat, the CEO, announced two weeks ago that they would be selling usb-powered mining devices for 1.99 BTC each. There is clearly a lot of demand for bitcoin mining hardware. The question in any gold rush is who will do better: the people mining, or the people selling the shovels? ASICMiner decided they can do both." Continue reading →

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China housing inflation quickens to two year high

"China's housing inflation accelerated to its fastest pace in April in two years, driven by a jump in prices in Beijing and Shanghai, complicating the task of policymakers trying to cool the property sector while supporting economic expansion. Average new home prices rose 4.9 percent last month from a year ago, after a year-on-year increase of 3.6 percent in March, according to Reuters calculations from data released by the National Bureau of Statistics(NBS) on Saturday. The rise was the sharpest since April 2011. New home prices in Beijing rose 10.3 percent in April from a year earlier and Shanghai's prices were up 8.5 percent in April from a year ago." Continue reading →

Continue ReadingChina housing inflation quickens to two year high

Pilotless Planes, Pacific Tensions

"This week the Navy will launch an entirely autonomous combat drone — without a pilot on a joystick anywhere — off the deck of an aircraft carrier, the George H. W. Bush. The drone will then try to land aboard the same ship, a feat only a relatively few human pilots in the world can accomplish. This exercise is the beginning of a new chapter in military history: autonomous drone warfare. But it is also an ominous turn in a potentially dangerous military rivalry now building between the United States and China. To offset China’s numerical advantage and technological advances, the United States Navy is betting heavily on drones." Continue reading →

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It’s Time for Private Defense

"If the Cleveland Police Department had believed and convinced a judge that there were drugs being consumed or sold in the Castro home, a battering ram would have collapsed the front door years ago. A dozen cops from various agencies would have stormed the place. Police don’t take those kinds of chances with a less sexy crime like kidnapping. So while government maintains a monopoly on policing power, its finances don’t allow it to do the job adequately. Police departments prioritize chasing drugs, cash, and terrorists. Because of asset forfeiture laws, those are the crimes that pay." Continue reading →

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Army sexual assault prevention officer arrested for stalking ex-wife

"For the third time in ten days, a U.S. military officer leading his branch’s sexual assault prevention efforts has been accused of misbehavior. Lt. Col. Darin Haas, the manager of the prevention program at Fort Campbell in Kentucky, turned himself into police on charges of stalking his ex-wife and violating a restraining order she had against him. An Army statement indicated that Haas has been removed from his position in the sexual assault prevention office, and that he was due to retire soon. News of Haas’ arrest comes as the military sexual assault issue is becoming a top priority for President Obama, the Pentagon, and the U.S. Congress." Continue reading →

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Pentagon plans to fight ‘War on Terror’ for another 20 years

"Even after cutting off the head of al-Qaeda, the United States Department of Defense doesn’t believe an end to the war on terror is in sight. On Thursday, one Pentagon official predicted the mission against al-Qaeda could continue for another two decades. Speaking to the Senate Armed Services early Thursday, Assistant Secretary of Defense for Special Operations Michael Sheehan said the Pentagon has no plans to pull out of its almost 12-year-old war overseas. When asked for his take on how long the war on terror could go on for, Sheehan told lawmakers, 'At least 10 to 20 years.'" Continue reading →

Continue ReadingPentagon plans to fight ‘War on Terror’ for another 20 years

Drones are cheaper and more powerful. In US, that’s a problem, lawmakers told

"With much of Capitol Hill riveted by IRS audits, AP phone records, and Benghazi e-mails, top US scholars gathered to testify in a little-watched congressional hearing that unmanned aircraft carrying cameras raise the specter of a 'significant new avenue for surveillance of American life,' as Christopher Calabrese, legislative counsel for the American Civil Liberties Union, characterized it for lawmakers Friday. 'Many Americans are familiar with these aircraft – commonly called drones – because of their use overseas in places like Afghanistan and Yemen. But drones are coming to America,' he said." Continue reading →

Continue ReadingDrones are cheaper and more powerful. In US, that’s a problem, lawmakers told

Paul Craig Roberts: Assault On Gold Update

"Who has 16 million ounces of gold? At the beginning gold price that day of about $1,550, that comes to $24,800,000,000. Who has that kind of money? What happens when 500 tons of gold sales are dumped on the market at one time or on one day? Correct, it drives the price down. Investors who want to get out of large positions would spread sales out over time so as not to lower their sales proceeds. The sale took gold down by about $73 per ounce. That means the seller or sellers lost up to $73 dollars 16 million times, or $1,168,000,000. Who can afford to lose that kind of money? Only a central bank that can print it." Continue reading →

Continue ReadingPaul Craig Roberts: Assault On Gold Update