"As Venezuela’s economy sinks deeper into depression with a fourth consecutive year of recession to go along with hyperinflation, some ruling socialist party members are raising their voices to call for reforms."
"Joseph Stiglitz said that he favours making the digital currency illegal because it does not have a 'socially useful function'. 'Bitcoin is successful only because of its potential for circumvention, lack of oversight,' the renowned economist said."
"The embargo is a failed foreign policy that’s only served to punish the Cuban people and isolate the United States internationally. And rolling back Obama’s opening there is a major blow for diplomacy, people-to-people ties, and — most of all — Cuba’s new private businesses."
"Alfred McCoy was a young rebel academic who waded into the war zone in Southeast Asia to investigate the relationship between the CIA, crime syndicates, and local drug lords. The result, which the Agency tried unsuccessfully to suppress, was his classic The Politics of Heroin: CIA Complicity in the Global Drug Trade. In the 45 years since, McCoy has consistently probed the underside of American global power, analyzing how the United States uses covert interventions, local proxies, torture, and worldwide surveillance to maintain its global empire."
"Initially, these markets consisted of disorganized traders meeting in fields, facing seizure from police if they did not come up with a bribe. Today, the jangmadang practice has led to fully-fledged markets, complete with stalls selling street food, smuggled electronics, ingredients, and clothes; certain markets allegedly grew to encompass upwards of a thousand stalls. Today, the markets remain a crucial element of survival for many North Koreans, with some reports estimating that around 5 million (around a fifth of the overall population) are 'directly or indirectly dependent on the markets'."
"Unclaimed property is one of the fastest growing sources for state revenue, and many believe that most unclaimed property is not reported. The lucrative silence surrounding unclaimed property has shifted from business entities, prior to the enactment of unclaimed property laws, to the current lucrative silence that allows unclaimed property to become a vital source of revenue for state governments."
"The creators lauded the launch as establishing the first nation to have all of its territory in space, though no countries have acknowledged its statehood. For now, the primary benefit of 'citizenship' is being able to store data on Asgardia-1 while it’s in orbit. Only those who support the constitution will have the right to upload data to the satellite. Asgardia will have taxes, though only businesses will be forced to contribute. Individual taxes will apparently be voluntary. The website explains that 'people can decide what amount of tax they would like to pay.' The country will also have passports, IDs, a national bank, business regulations, and a cryptocurrency called SOLAR."
"'Buy bitcoin' is now a more popular search phrase than 'buy gold' on Google. The buzz is starting to impinge on gold’s role as a store of value especially since, like the precious metal, there’s a finite supply of bitcoin, which proponents say gives it anti-inflationary qualities. Sales of gold coins from the U.S. Mint slid to a decade low in the first three quarters months of 2017."
"Many people in Zimbabwe don’t have bank accounts. But a growing number own smartphones. And that’s all you need to buy bitcoin. But this isn’t just happening in Zimbabwe. The people of Venezuela are becoming increasingly desperate. And many are buying bitcoin to survive. That’s because bitcoin doesn’t lose value by the day like the bolivar, Venezuela’s currency. Instead, it becomes more valuable."
"Covered deposits no longer need to be protected, according to the European Central Bank (ECB), which has proposed this month to stop withdrawals when a bank is on the verge of failing. It has suggested the current €100,000 (£85,000) deposit level currently protected in the event of a bail-in would no longer be available."