Like it or not Bitcoin is changing the world. A year ago very few people outside of wonky libertarian financial circles even knew what Bitcoin was. Now it is known by everyone, including and especially governments and central banks. They for the most part are not keen on the crypto-currency. And one can understand why. The central planners have no control over Bitcoin and that scares them to death. How are they supposed to manipulate monetary policy if everyone is using blockchain based virtual currencies?
“Have I become an instrument in some billionaire’s investment campaign?” he said, adding that he now regrets sending the letter. “I don’t want to be an unwitting pawn, and that is how I am feeling right now.”
This is some truly disgusting crony capitalism.
Government work can be very lucrative. But this is nothing. I’d love to see what one of Putin’s many palaces look like.
The “fairy dust” has kept things going for a long time. Will it continue to work? How long? It won’t work forever. Did it just stop working?
Next week will be fun.
The answer I believe is, yes, absolutely. Frankly I think that some people in Washington were hoping for a crash before now.That they haven’t gotten one has lead to significant consternation.
Surprise, Hank Paulson thinks the rabble, now empowered by new media, are counter productive to the great “debate” the country is having. Better to leave it to the Masters of the Universe like him.
What is under the stock market? Is the market reflecting an economy which is fundamentally strong?
The IRS is the key enforcer, implementer, etc for Obamacare. This should have never been allowed to happen in the first place, but in the wake of the “enemies list” scandal the American people should insist on a total revamp of the program (at the very least) and the removal of the Internal Revenue Service as chief administrator.
Though I have real issues Mayor Bloomberg, the publication which bares his name is often superb. We highlight their articles regularly at ACC.
But Bloomberg publishing has got a real problem on its hands. On Friday the story broke that reporters at the magazine and website may have had access to when bankers and traders from Goldman Sachs, The Federal Reserve, to the Vatican were online, and even what their keystrokes were. Pretty high quality information.
“When it comes to hubris, nobody beats the Federal Reserve.” – Rick Santelli
Steady as the QE goes, but the Fed is fully prepared to ramp up printing if it thinks it has to.