Investment/Trends

Dotcom: Surveillance and Copyright Extremism Will Cost United States Dearly

"'The US government and the other Five Eyes partners (UK, Canada, Australia and New Zealand) have an agreement to push for new spy legislation that will provide them with backdoors into all Internet infrastructure and services. The NZ government is currently aggressively looking to extend its powers with the GCSB and the TICS act, which will force service providers with encryption capabilities to give them secret decryption access,' Dotcom explains. 'The US is on a path of destroying its massive lead in the Internet economy. Mass surveillance and copyright extremism will cost the US economy more than any terrorist attack or piracy,' Dotcom says." Continue reading →

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The FED’s Money Trap

"The Federal Reserve, and therefore the economy, is caught on the horns of a dilemma of our own making. ZIRP (zero interest rate policy) and the aggressive pumping of money (upwards of $85 billion a month) into the financial system have tripled our money supply. Housing is perhaps the canary in the coal mine telling us that things are not going well and danger is close by. Even with 3% 30-year mortgages and no money down, we have to go back to 1997 to see such such low levels of home ownership in America." Continue reading →

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Is the Gold Market Manipulated?

"By arguing whether or not gold manipulation exists, we may find that we are wasting our brain cells on the question. A better question, and one that we might choose to monitor on a regular basis, might be, 'To what degree is successful manipulation taking place?' We might then use the on-going answer as a guide, to inform our reasoning going forward, as to what impact any perceived manipulation is likely to have with regard to our precious metals investment." Continue reading →

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Bitcoin Ticker Available On Bloomberg Terminal For Employees

"Bitcoin is now officially mainstream. According to BTC Geek, Bloomberg terminal users can now look up Bitcoin’s pricing history. Data comes from ubiquitous Bitcoin exchange service Mt. Gox as well as Tradehill. For now, only Bloomberg employees can access the ticker. But the feature should make its way to regular Bloomberg terminal customers under the label XBT. The ticker probably shows what a bitcoin is worth in U.S. dollars over time. With the Bloomberg terminal, traders could easily compare Bitcoins with other currencies in order to short them." Continue reading →

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Japan’s Debt Exceeds 1 Quadrillion Yen as Abe Mulls Tax Rise

"The country’s outstanding public debt including borrowings reached a record 1,008.6 trillion yen as of June 30, the finance ministry said in Tokyo today. Larger than the economies of Germany, France and the U.K. combined, the amount includes 830.5 trillion yen in government bonds. The world’s heaviest debt burden will weigh on Abe when he decides next month whether to implement a two-step plan to double the tax on consumers in a nation with ballooning welfare costs. Moody’s Investors Service yesterday warned that a worsening of finances would erode confidence in government bonds." Continue reading →

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Am Law Lawyers Help Bring Bitcoin to the Masses

"It may be awhile before Kathleen Moriarty lets clients pay her in bitcoin, but the Katten Muchin Rosenman partner is doing her part to help legitimize the digital currency derided as speculative and risky by some prominent economists. In July, Moriarty filed with the Securities and Exchange Commission what appears to be the first-ever proposal to create a bitcoin-based, exchange-traded fund on behalf of two high-profile clients: Cameron and Tyler Winklevoss, the twin brothers famous for battling Mark Zuckerberg over Facebook’s origins. The twins turned to Moriarty because of her extensive experience with ETFs." Continue reading →

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With Detroit’s Bankruptcy, Anarchists Have Begun Project “Free Detroit”

"With much of the city in disarray and literally moving away, the cost of living has gone down dramatically with housing prices in some cases reaching only a single dollar. Michigan market-anarchists from the 'Michigan Peace and Liberty Coalition' are coming together to put 'theory into reality' when it comes to free markets. In their plans, coalition members believe they’ll be purchasing an estimated five blocks of property. Free Detroit members hope to provide food production, security, water collection, education, construction, communications, child services and many others – through agorism, without any government intervention." Continue reading →

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Peter Schiff: What Doesn’t Kill Gold Makes It Stronger

"In July, the gold net-short positions reached record highs. When gold began to rebound last month, a massive number of shorts were left exposed and many still remain exposed. Gold shorts are stuck holding the losing bet on an asset that is going to do the opposite of what they anticipated. If the price rally continues, these traders will feel increasing pressure to unwind their shorts before their losses become catastrophic. This 'short squeeze,' as it is known in finance, will reverse the vicious cycle and could send gold dramatically higher than when the correction started." Continue reading →

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Bill Bonner: The Bottom Is Still Ahead for This Bear Market

"The last top in Treasury prices (and a bottom for yields) occurred in 1946. Yields rose for the next 34 years. Now the Treasury market appears to be topping out again… and is headed for a new high in yields… which may not arrive until 2047. It may be a long way off… or right around the corner. Either way, it will be hell getting there. The Detroit pension disaster is just the first of many. Wait until long-term interest rates hit 5%… or 10%. How many companies, cities and pension funds will still be solvent? We’ll see! But wait. You don’t think the Fed will sit on its hands and let the markets take over, do you? Taper off? Forget it." Continue reading →

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