Resistance

Bitcoin Goes to Washington

"The Committee understands that Bitcoins and other forms of peer-to-peer digital currency are a potential means for criminal, terrorist or other illegal organizations and individuals to illegally launder and transfer money. News reports indicate that Bitcoins may have been used to help finance the flight and activity of fugitives. The Committee directs the FBI to provide a briefing on the nature and scale of the risk posed by such ersatz currency, both in financing illegal enterprises and in undermining financial institutions. The briefing should describe the FBI efforts in the context of a coordinated Federal response to this challenge." Continue reading →

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Congress starts looking into Bitcoin

"The Senate Homeland Security and Government Affairs Committee on Monday sent letters to several agencies requesting that they disclose their virtual currency policies, how they developed them, how agencies are coordinating and finally what they plan to do going forward. Committee Chairman Tom Carper (D-Del.) and ranking member Tom Coburn (R-Okla.) sent letters Monday, which ask for information on a range of virtual currencies while naming Bitcoin as an example, to the Homeland Security Department, Justice Department, Federal Reserve, Treasury Department, Securities and Exchange Commission, CFTC, and OMB." Continue reading →

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India raises import duty on gold, silver to 10 per cent

"India hiked import duty on refined gold bars for a third time in eight months to 10 per cent from the earlier 8 per cent, the Finance Ministry said in a statement on Tuesday. The government also raised the import duty on silver to 10 per cent from the earlier 6 per cent, and the factory gate duty on gold bars to 9 per cent from 7 per cent. India, the world's biggest buyer of gold, has been trying to curb imports of the yellow metal, which is the second biggest imported item after crude oil. On July 22, the RBI required a fifth of all gold imports to be used for export, usually in the form of jewellery." Continue reading →

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The Taper Trap

"The big question these days is this: 'When will the Federal Reserve System start to taper off its purchases of U.S.Treasury debt and Fannie/Freddie debt?' The commonly held view is next month. A Reuter’s reporter went up to David Kotok’s annual gathering at Leen Lodge in Maine. He brings in 50 or so big names in the investment world. They can chat with each other. There are formal presentations. She asked several of them when the FED will taper. The answer was unified: not soon. Pippa Malmgren said it best: if the FED moves from buying 75% of the Treasuries issued this year to selling them, the market will react violently." Continue reading →

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The Police State Mindset in Our Public Schools

"Instead of making the schools safer, we simply managed to make them more authoritarian. It used to be that if you talked back to a teacher, or played a prank on a classmate, or just failed to do your homework, you might find yourself in detention or doing an extra writing assignment after school. Nowadays, students are not only punished for transgressions more minor than those—such as playing cops and robbers on the playground, bringing LEGOs to school, or having a food fight—but they are punished with suspension, expulsion, and even arrest. As a result, America is now on a fast track to raising up an Orwellian generation." Continue reading →

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Disabled man plans to sue after being tased by officer on bus

"Hulett suffered neurological damage in 1991 after being hit by two trains, causing him to be handicapped. 'Because my back feels better standing up that sitting down...puts more pressure on two herniated disks,' Hulett said. When the driver asked him to sit down, he refused. Syracuse Police were called and officers ordered Hulett to get off of the bus. He again refused, saying he was doing nothing wrong. After approximately a minute of back-and-forth with police, the incident escalated and police deployed a taser. In the video, an officer appears to lift up Hulett’s shirt and then fires the taser. Hulett can be heard apparently howling in pain in the video." Continue reading →

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Lamassu: Bitcoin ATM Machine

"This is the Bitcoin Machine. Here's how it works: 1. Scan your Bitcoin QR code. 2. Insert cash. 3. You have bitcoins! Buy yourself something pretty. [..] Do I require a license or permit to operate the Bitcoin Machine? Some jurisdictions may have regulatory requirements (such as KYC/AML). We would advise to consult with an attorney prior to operating these machines. If you are located in the US, we require a signed due diligence questionnaire prior to shipping." Continue reading →

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Vancouver businesses jump on the Bitcoin bandwagon

"A new and innovative payment system has a number of Vancouver business owners intrigued. A slew of local businesses, from coffee shops to moving companies, are adopting Bitcoin – a new currency that many believe will revolutionize the way we think about money. Bitcoin is a digital currency, meaning it has no paper trace and lives entirely online. 'Bitcoin was really born out of banking bailouts,' says Michael Bliss with Vancouver Bitcoin Co-op. 'It is the future of money, no doubt.' The Bitcoin Co-op that Bliss co-founded is a local network for people interested in Bitcoins — traders, investors and merchants." Continue reading →

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