Latest Articles: Business/Finance
Russia's Blockchain Revolution
Post Date: 2018-03-21 07:08:49 by Tatarewicz
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MoscowTimes...intellinews.com Russia has gone a bit blockchain bonkers. President Vladimir Putin has been looking for something for Russia to be good at for a while, but hasn’t had much luck so far. Now it’s the secure data-transfer technolgy’s turn and here Putin actually has a very good chance of making a difference. Back in 2006, Putin gave a speech in which he said: “Russia’s greatest asset is not oil and gas, but its people. Russia’s human capital is its most valuable resource.” And given Russia is the country that put the first man into space while working under a totalitarian regime that was run on central planning lines, he probably has a point. ...
Berkeley, California, is considering an ICO unlike any other
Post Date: 2018-03-16 04:09:46 by Tatarewicz
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MIT-TR ...Connectivity Berkeley, California, is considering an ICO unlike any other A city council member calls his plan to mint a new crypto-token an “initial community offering.” If it works, it could be revolutionary. by Mike Orcutt March 8, 2018 Venezuela is doing it. So is Estonia. And now Berkeley, California, is considering its own government-backed initial coin offering. But this is a different beast from the ICO craze that’s gripped the crypto world in the last year or so, and a far cry from a petro-state’s Hail Mary attempt to save its foundering economy. Recommended for You A startup is pitching a mind-uploading service that is “100 percent ...
Pump & dump? Crypto market crashes in suspiciously delayed reaction
Post Date: 2018-03-16 03:00:37 by Tatarewicz
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RT... The cryptocurrency market crashed on Thursday with bitcoin plunging to a five-week low. The broad sell-off followed Google's plan to ban cryptocurrency advertising the day before. It took more than 24 hours for the crypto market to react to the news, but major cryptocurrencies saw double-digit percent losses on Thursday. Bitcoin slid 13 percent to $7,950 for the first time this month. The second-largest cryptocurrency ethereum fell below $600 – losing over 57 percent in value since peaking above $1,400 at the beginning of the year. Read more © Joseba Etxaburu Cryptocurrency market ruled by lawless code of Wild West – analyst Ripple and bitcoin cash both tumbled ...
Major Campaign Promise Fulfilled After Trump Hotels Made Over $100K From Foreign Gov’ts
Post Date: 2018-03-12 05:29:05 by BTP Holdings
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Major Campaign Promise Fulfilled After Trump Hotels Made Over $100K From Foreign Gov’ts By Thomas Phippen March 10, 2018 at 2:08pm The Trump Organization made a voluntary payment of $151,470 to the Department of the Treasury to keep a promise that the company would not benefit from foreign government payments while Donald Trump is president. The check represents the net profits the Trump Organization — which includes both the president’s Mar-a-Lago club in Palm Beach, Florida, and the Trump International Hotel in Washington, D.C. — made from doing business with foreign leaders for Trump’s first year in office, Eric Trump, executive vice president of the company, ...
Russia says Iran to become EEU member in May
Post Date: 2018-03-10 22:58:53 by Tatarewicz
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PressTV... Russia says Iran could join an emerging economic bloc that it leads as early as May in a move that could eventually help both nations dodge the impacts of US-led economic sanctions they face. Russia’s Energy Minister Alexander Novak was quoted by media as saying that Iran’s membership to the Eurasian Economic Union (EEU) could help the expansion of bilateral trade and investment between Tehran and Moscow. “The move to enter into a temporary agreement making for a free trade zone to be set up between Iran and the Eurasian Economic Union, which is currently at an advanced stage, will obviously trigger further development of our bilateral trade and expansion of ...
Mysterious Entities Secretly Stealing Billions from ‘Frozen’ Gaddafi Accounts
Post Date: 2018-03-10 08:53:51 by Ada
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Billions in sanctioned Libyan funds from Muammar Gaddafi—meant to be given back to the Libyan people—are being stolen by secret interests from frozen accounts in Belgium. Belgium — (RT) Some €10 billion of Libyan government funds, frozen as part of sanctions against the late Muammar Gaddafi’s inner circle, has mysteriously disappeared from a Belgian bank somewhere between 2013 and 2017, according to local media. Back in November 2013, four Euroclear Bank accounts belonging to the Libyan Investment Authority (LIA) and its subsidiary Libyan Foreign Investment Company (LFICO) in Bahrain and Luxembourg, contained some €16.1bn in frozen assets. However, when ...
Peter Schiff - Gold Will Explode & Dollar Wiped Out
Post Date: 2018-03-08 21:53:19 by BTP Holdings
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How long can the U.S. economy be propped up with ever expanding debt? Money manager Peter Schiff says, “How high can the debt go? I don’t know and you don’t know. . . .How many straws can you put on a camel’s back? You don’t know until you put that final straw that’s one too many and you break his back. So, can we go to $25 trillion in debt? Maybe. At some point, we are going to break the back of the camel with all this debt. Then we are going to find out how much debt we can pile on, and it’s not going to be pretty. Everybody is going to lose. Everybody is going to get wiped out who has been partying in the stock market, the bond market and the real ...
The Real Reason the Investor Class Hates Pensions
Post Date: 2018-03-08 03:21:45 by Tatarewicz
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NYT... No issue in America today better illustrates the divergent interests of working Americans and the 1 percent than pension reform. Substantial empirical evidence shows that America’s favored retirement vehicle — the 401(k), recently renounced by its own inventors — is grossly inadequate and will leave tens of millions of Americans with insufficient retirement assets. And yet states and cities are busy converting traditional pensions into these failing 401(k)s or equivalents, to the great benefit of money managers and the finance class. Advocates of pension “reform” — which really means cutting or eliminating traditional pension funds — will tell you ...
How Bitcoin Ends
Post Date: 2018-03-04 01:20:21 by Tatarewicz
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Fast company.l.. Is the cryptocurrency just going to end up re-enforcing the financial system it was supposed to disrupt? Bitcoin was a clever idea. Idealistic, even. But it isn’t working out quite as its developers imagined. In fact, once all the coin has been mined, bitcoin will simply reinforce the very banking system it was invented to disrupt. advertisement Watching the bitcoin phenomenon is a bit like watching the three-decade decline of the internet from a playspace for the counterculture to one for venture capitalists. We thought the net would break the monopoly of top-down, corporate media. But as business interests took over it has become primarily a delivery system for ...
Marshall Islands creating own virtual currency
Post Date: 2018-03-03 21:27:17 by Tatarewicz
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PressTV... The tiny Marshall Islands is creating its own digital currency in order to raise some hard cash to pay bills and boost the economy. The Pacific island nation said it became the first country in the world to recognize a cryptocurrency as its legal tender when it passed a law this week to create the digital "Sovereign," or SOV. In the nation of 60,000, the cryptocurrency will have equal status with the US dollar as a form of payment. Venezuela last month became the first country to launch its own cryptocurrency when it launched the virtual Petro, backed by crude oil reserves. The Marshall Islands said the SOV will be different because it will be recognized in law as ...
Bank of Canada wants its old money back
Post Date: 2018-03-01 06:44:08 by Tatarewicz
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iPolitics... If you’ve got an old $1 bill that you’re using as a bookmark or a pile of $1,000 bills hidden in a safety deposit box, listen up: it’s soon going to be time to give them back. The federal government, acting on the advice of the Bank of Canada, plans to remove legal tender status from a variety of old banknotes, including $1, $2, $25, $500 and $1,000 bills. A total of $1.1-billion worth of old paper currency is to be pulled from circulation. The problem, says the 2018 federal budget, is that “large denominations facilitate illicit activities such as counterfeiting, money laundering and tax evasion.” The $1 and $2 were long ago replaced by coins and ...
Sweden 'Most Cashless' Society in the World
Post Date: 2018-02-28 08:40:42 by Ada
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People living in the world’s most cashless society may soon lose their access to notes and coins. To avoid that extreme scenario, Swedish cash-handling provider Loomis AB wants authorities to force banks and retailers to continue accepting cash. The warning follows similar calls from the Swedish central bank, which is worried that the rapid disappearance of cash will ultimately lead to the disintegration of the infrastructure needed to use notes and coins and undermine its task to promote a safe and efficient payment system. “We have to have cars, vaults and all that, and in order to maintain the infrastructure we also need a base volume,” Loomis Chief Executive ...
Nomi Prins - Debt Will Ultimately be Destructor of the System
Post Date: 2018-02-27 06:39:35 by BTP Holdings
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Two time, best-selling author Nomi Prins says global debt levels are at record highs. Prins contends, “These are levels that they have never been, and they are all at their historic highs. That’s why debt will ultimately be the destructor of the system. In order for that to happen, the cheapness of money that allow states, municipalities and corporations to continue to borrow at these cheap levels has to go away. . . . At some point, there will be a mistake. There might be a tiny smidge of an interest rate hike at some central bank, probably the Fed, which ripples throughout the system as a mistake, not because real growth has happened, and that’s why interest rates have ...
Cryptocurrencies pose serious threat to Bank of America according to its SEC filings
Post Date: 2018-02-25 02:53:53 by Tatarewicz
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RT... Bank of America considers cryptocurrency a material risk to its business, public records reveal. The bank has made efforts to restrict its customers’ use of bitcoin and other virtual currencies. In its annual filing with the Securities and Exchange Commission, the bank admitted cryptocurrency poses a competitive threat to its business on three separate occasions within the document. The bank said there is a risk that its customers could turn to cryptocurrencies adding that, "Clients may choose to conduct business with other market participants who engage in business or offer products in areas we deem speculative or risky, such as cryptocurrencies." The bank realizes ...
Blockchain will fuel next oil boom – here’s why
Post Date: 2018-02-24 23:26:08 by Tatarewicz
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RT... Big Oil is due for a disruption. The world’s most important industry has been carrying on without any significant changes in its day to day routine for far too long. But now, the new tech on the block has its sights set on the multi-trillion-dollar oil and gas sector. It’s official: Blockchain technology has infiltrated Big Oil. Read more © Sergei Karpukhin Russia may turn to cryptocurrencies in oil trade to challenge sanctions & the petrodollar The hype behind blockchain has reached a full-blown frenzy. And for good reason.The technology, which creates secure ledgers for digital transactions and rapidly accelerates the pace at which transactions can be made, has ...
Why the Fed & The National Debt Are Illegal
Post Date: 2018-02-24 21:23:40 by BTP Holdings
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Why the Fed & The National Debt Are Illegal This Awareness indicates that you must understand that when the Federal Reserve Bank, the privately owned Federal Reserve bank, was given authority to print Federal Reserve notes instead of the Treasury Department writing the Treasury Notes as directed by the U.S. Constitution, these Federal Reserve notes were not printed to be given out to the economy, in the way as the Treasury Notes of the Treasury Department. Rather, they were loaned to the U.S. government and then circulated into society, and society was required to pay back interest on the IRS notes and that amount of interest accumulated to the point of approximately 5 trillion dollars ...
Remington's bankruptcy could be the tip of the iceberg
Post Date: 2018-02-18 08:21:31 by BTP Holdings
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Remington's bankruptcy could be the tip of the iceberg Bloomberg Eliza Ronalds-Hannon and Polly Mosendz 1 day ago 00:24 02:09 Remington settlement in peril Video by CNBC Quotes in the article Prospect Capital Corp PSEC ▲ 6.82 +0.08 +1.19% Firearms companies face declining sales, falling stock prices and tremendous debt. Gunmaker American Outdoor Brands Corp., formerly known as Smith & Wesson, has seen its stock plummet by almost half, compared with 2017. On Monday, Remington Outdoor Co., an iconic 200-year-old American firearms manufacturer, announced it’s planning to file for bankruptcy. With Republicans in control of Washington, there’s ...
Three Crazy Things We Now Accept as "Normal"
Post Date: 2018-02-17 10:42:26 by Ada
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How can central banks "retrain" participants while maintaining their extreme policies of stimulus? Human habituate very easily to new circumstances, even extreme ones. What we accept as "normal" now may have been considered bizarre, extreme or unstable a few short years ago. Three economic examples come to mind: 1. Near-zero interest rates. If someone had announced to a room of economists and financial journalists in 2006 that interest rates would be near-zero for the foreseeable future, few would have considered it possible or healthy. Yet now the Federal Reserve and other central banks have kept interest rates/bond yields near-zero for almost nine years. The Fed ...
Winn-Dixie and Tops Owners Are Said to Prepare for Bankruptcy
Post Date: 2018-02-17 08:43:22 by BTP Holdings
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Winn-Dixie and Tops Owners Are Said to Prepare for Bankruptcy Bloomberg Lauren Coleman-Lochner and Eliza Ronalds-Hannon 7 hrs ago Bi-Lo LLC, the company behind the Winn-Dixie chain, is preparing for a filing as soon as March, according to the people, who asked not to be identified because the process isn’t public. The owner of Tops Friendly Markets, meanwhile, could potentially seek court protection from creditors as soon as this month, people familiar with that situation said. With low margins and ample competition, the grocery business has always been challenging. But now the industry is contending with a more aggressive push by big-box retailers and Amazon.com Inc., which ...
How Pence's Dudely Dinners Hurt Women
Post Date: 2018-02-14 10:23:05 by ghostdogtxn
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Do Financial Markets Still Exist?
Post Date: 2018-02-14 09:36:55 by Ada
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For many decades the Federal Reserve has rigged the bond market by its purchases. And for about a century, central banks have set interest rates (mainly to stabilize their currency’s exchange rate) with collateral effects on securities prices. It appears that in May 2010, August 2015, January/February 2016, and currently in February 2018 the Fed is rigging the stock market by purchasing S&P equity index futures in order to arrest stock market declines driven by fundamentals, and to push prices back up in keeping with a decade of money creation. No one should find this a surprising suggestion. The Bank of Japan has a long tradition of propping up the Japanese equity market with ...
Bitcoin belongs more to the realm of fraud than finance or economics – analyst
Post Date: 2018-02-11 07:04:54 by Tatarewicz
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RT... Cryptocurrencies have no intrinsic value behind them, which is why they can be compared to Monopoly money, according to Alessandro Bruno, senior political and financial writer at Lombardi Letter. “It’s not about innovation, it’s not about progress, it’s not about automation. Bitcoin – and other cryptocurrencies (except for the gold backed or oil backed ones, has become another financial ‘expression’ or ‘product,’ which belongs more to the realm of fraud than finance or economics,” Bruno wrote to RT. Read more © eyedias / Getty Images Bitcoin 'nuts' will hold cryptocurrency until price plummets to zero - ‘Dr ...
Shale 'Miracle' Is a Retirement Party For the Oil Industry
Post Date: 2018-02-09 11:12:53 by Ada
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"But it (shale) was something to do, at least, if you were an oil company — an alternative to 1) doing no business at all, or 2) getting into some other line-of-work, like making yoga pants or gluten-free cupcakes." The author is a prominent American social critic, blogger, and podcaster, and we carry his articles regularly on RI. His writing on Russia-gate has been highly entertaining. He is one of the better-known thinkers The New Yorker has dubbed 'The Dystopians' in an excellent 2009 profile, along with the brilliant Dmitry Orlov, another regular contributor to RI (archive). These theorists believe that modern society is headed for a jarring and painful ...
What would a true meritocracy look like?
Post Date: 2018-02-09 04:53:55 by Tatarewicz
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Letters to the Editor Aloha Benjamin, I have been a subscriber for several years, and one who deeply appreciates the work you have and continue to do on our behalf. Frankly, I am humbled by your willingness to put yourself at risk as you have, for the sake of the rest of us. I have come to believe that money is a key tool in perpetuating humanity’s enslavement, and that it is made even more effective by our culture of deception and disinformation. And while I’m looking forward to a jubilee, debt forgiveness, and a currency reset, I just can’t seem to get past the fact that money is a creation and only as real as we make it. It is NOT an actual living force like human ...
[US Illegally Blocks Russian Bank Transfer For Fuel
Post Date: 2018-02-08 23:52:36 by Tatarewicz
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PMF... The US has illegally blocked a money transfer of the Russian Defense Ministry, which was intended to pay for fuel of Russian aircraft fighting against terrorists in Syria. This sum is for more than five million dollars, said the official representative of the Russian Foreign Ministry Maria Zakharova. She explained that this is an international transfer, which the Russian Defense Ministry carried out in 2017. Zakharova stressed that the US side has frozen the money. "It's more than five million US dollars. So far, these funds, have not been returned," Zakharova said at a briefing. In her weekly briefing to the media, Zakharova also recalled the US blocking of the 20 ...
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