for life and liberty

Justice seeking to block Bernanke testimony

"The government is trying to block questioning of Federal Reserve Chairman Ben Bernanke in a lawsuit by the former head of American International Group Inc. The Justice Department told a federal appeals court Friday that high-ranking officials should not have to testify except in extraordinary circumstances. Former AIG CEO Hank Greenberg sued the government over the $182 billion bailout of the insurance giant that has since been repaid. It is rare for a Fed chairman to be questioned in a lawsuit, but Judge Thomas Wheeler ruled that Bernanke has firsthand knowledge of the bailout and should undergo questioning." Continue reading →

Continue ReadingJustice seeking to block Bernanke testimony

India’s Worst Economic Crisis Since 1991 When It Had To Airlift 67 Tons Of Its Gold

"At the time, the country had secured a $2.2bn loan, backed by 67 tons of gold reserves. To satisfy the IMF's concerns about access to the collateral, the RBI had to airlift 47 tons of gold to be deposited offshore with the Bank of England and 20 tons of gold with UBS. While such action is unlikely this time around, if the crisis continues to escalate, Asia's third largest economy will struggle to grow. Even though economists still do not expect a contraction, it is now a real possibility. Some weakening of the rupee may have been desirable for exporters, but losing control of the exchange rate was not what the RBI had in mind." Continue reading →

Continue ReadingIndia’s Worst Economic Crisis Since 1991 When It Had To Airlift 67 Tons Of Its Gold

Gold Investors Seek Alpine Haven in Swiss Army Bunkers

"At Pro Aurum, movement and vibration detectors add protection to the former Zuercher Kantonalbank branch in Kilchberg, a lakeside suburb of Zurich. Cameras hang from the ceiling to film employees as they fulfill orders from customers who can store valuables in one of the 700 safe deposit boxes or buy up to 100,000 francs ($107,000) of gold with cash over the counter without proof of funds such as a bank statement. About half of Buchwalder’s customers are Swiss, with Europeans making up most of the remaining clients. Pro Aurum, which also has units in Austria and Germany, trades 'over a billion francs' of gold per year." Continue reading →

Continue ReadingGold Investors Seek Alpine Haven in Swiss Army Bunkers

Prospectors pan Indiana creeks in quest for gold

"In the shallow streams and creek beds of Brown County, a new gold rush is going on. Outdoorsy types have taken to the water in search of flakes of natural gold left behind millions of years ago. No one is hitting the mother lode or striking it rich. But for modern-day Indiana prospectors, panning for gold is a chance to be outside, gather with like-minded friends and experience the thrill of finding buried treasure. Dozens of members of the Gold Prospectors Association of America gathered in the bends of Salt Creek, hunched over the water. Some of them used hand-held pans to sift through the bed of the stream." Continue reading →

Continue ReadingProspectors pan Indiana creeks in quest for gold

McCain and Graham flipflop on aid to Egypt– after AIPAC speaks up

"Two conservative senators, John McCain and Lindsey Graham, went to Egypt this week to urge Egyptian leaders to show more respect for democracy. McCain and Graham may be Republicans, but they have a lot of clout. They were reported to have the blessing of the Obama administration in making this embassy. Why do they have such clout? One reason is that they are extremely responsive to the Israel lobby. In fact, both men lately flipflopped on a principled statement-- cutting off aid to Egypt -- evidently at the urging of AIPAC, the leading Israel lobby organization." Continue reading →

Continue ReadingMcCain and Graham flipflop on aid to Egypt– after AIPAC speaks up

MSNBC Blames Boston Bombing on “Deeply Racist” Alex Jones

"'Alex Jones may sound crazy, but he has 300 million people that have watched him on YouTube,' said Wagner, characterizing Jones as 'deeply racist,' despite the fact that Jones has preached a message of peaceful, non-violent inclusiveness for the best part of two decades. On the contrary, Alex Jones and Infowars are renowned for communicating a message of non-violence and racial harmony, stemming back from the 90′s when Alex Jones protested against and bullhorned the Ku Klux Klan. In comparison, MSNBC is part owned by General Electric, a titan of the military-industrial complex and one of the biggest arms manufacturers on the planet." Continue reading →

Continue ReadingMSNBC Blames Boston Bombing on “Deeply Racist” Alex Jones

Bitcoin ATM Machines Receive Full Funding Hours After Campaign Launches

"Startup Lamassu Bitcoin Ventures has managed to fund its initial production run of 15 Bitcoin ATM units just hours after pre-orders were announced. The company’s new Bitcoin ATMs promise to take your cold hard cash and instantly added your money to a bitcoin wallet. The new ATM machines were paid for mostly with the use of Bitcoins. Based on the cost of each machine the company has raised $60,000-$75,000 in sales revenue after only a few short hours. While Bitcoin value has drastically increased over the last year the company is hoping to introduce the digital currency to “non-geeks” who may find entry into the payment a bit confusing." Continue reading →

Continue ReadingBitcoin ATM Machines Receive Full Funding Hours After Campaign Launches

Square Fined $507K In Florida For Operating Without A Money Transmitter License

"A little more state-specific financial regulatory hot water for Square, the hot mobile commerce startup: it has been fined $507,000 by Florida’s Office of Financial Regulation for operating a payment service without a money transmission license. This looks like the second time that a U.S. state financial regulator has gone after the company, after Square was served with a cease and desist order in Illinois in March 2013, also for failing to obtain a license before opening up for operations. According to the Florida payment order (embedded below), the $507,000 fine covers over two years of operation, from February 2010 to November 2012." Continue reading →

Continue ReadingSquare Fined $507K In Florida For Operating Without A Money Transmitter License