Latest Articles: Business/Finance
Two Elephants In The Room That The GOP Has Completely Forgotten
Post Date: 2018-02-08 09:35:59 by Ada
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The US economy is threatened by two giant problems which cause all others to pale into insignificance. We are referring to a rogue central bank that has become an absolute enemy of capitalist prosperity and a fiscal doomsday machine that is hostage to the ceaseless budgetary demands of the Warfare State, the Welfare State and the Baby Boom’s demographic imperatives. Needless to say, both ends of the Acela Corridor are completely oblivious to these twin menaces. Indeed, they are the proverbial elephants in the room, thereby giving rise to a considerable irony: To wit, the GOP party of the elephant, which is supposed to be the palladium of financial rectitude in American politics, has ...
Just a matter of time’ before cyber 9/11 – cybersecurity expert
Post Date: 2018-02-07 06:45:30 by Tatarewicz
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RT... Modern network-connected infrastructure is very vulnerable to cyberattacks, according to digital strategy consultant and cyberterrorism expert Lars Hilse, who talked to Sputnik about the risks of online terrorism and crime. Read more © Dado Ruvic South Korean cryptocurrency exchange goes bust after hack attack Hilse, who warned in 2014 that the next 9/11 would be a cyber-version of the September 11 attacks, said his prediction came true to a small degree in the 2015 attacks on the television network TV5Monde in France. “In March 2015, we had a physical attack by the cyber caliphate that took down 11 satellite TV stations. With the ever-increasing complexity of our ...
Sigh of Relief? Crypto Reacts to US Senate Hearing Remarks
Post Date: 2018-02-07 02:00:04 by Pinguinite
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"Bullish." "A sigh of relief." These were just some of the comments that came from industry observers in the wake of a hearing held Tuesday by the U.S. Senate Committee on Banking, Housing and Urban Affairs, one that addressed the question of how lawmakers should consider cryptocurrency regulation. Widely anticipated due to its positioning amidst what has been one of the biggest industry bubbles, the event saw the heads of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) testify on a range of topics including market oversight, price volatility and the regulatory concerns around initial coin offerings (ICOs). However, it ...
The size of your tax refund depends on where you live
Post Date: 2018-02-05 06:56:49 by BTP Holdings
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The size of your tax refund depends on where you live Business Insider Matthew Michaels 3 days ago What to do if the new tax law changes your paycheck These Are the Penalties for Filing Taxes Late Slide 1 of 52: The average tax refund in America is $2,895, but the figure varies by state.In Texas, Oklahoma, and Louisiana the average tax refund tops $3,000.Eight of the 10 states with the lowest average tax refund border Canada. You can now submit your tax return and wait for your refund. Last year, $324 billion was sent back to taxpayers from the IRS. Nearly eight out of 10 taxpayers received a tax refund worth an average of $2,895.SmartAsset analyzed 2016 data from the IRS to find ...
Trump’s pick for US Federal Reserve enters economic equations
Post Date: 2018-02-04 00:38:44 by Tatarewicz
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PressTV... As Janet Yellen’s tenure as the Chair of the Federal Reserve ends, US President Donald Trump’s pick prepares to take the helm at the central banking system of the United States. The New York billionaire who had no rosy relationship with Yellen since the days of the 2016 campaign, had opted not to re-nominate her, which made her announce in advance that she would leave at the end of her term. After her term in the Fed, Yellen will join the Brookings Institution think tank as a Distinguished Fellow in Residence. Therefore, Jerome Hayden Powell, Trump’s pick who has been confirmed by the GOP-controlled Senate, is starting his job as the new “Fed Chair” ...
It’s Not the Dow, Stupid! Underpaid Workforce Imperils US and Global Economies
Post Date: 2018-02-03 08:34:26 by Ada
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Over a period of 40 years, capitalists like Rockefeller, Walmart, the Koch Brothers, and Amazon founder Jeff Bezos have completely rearranged the financial universe — all but eradicating inflation, and radically devaluing work relative to capital. NEW YORK — “It’s Not a Roar,” read the first-edition headline for the New York Times business article published January 27, “but the Global Economy is Finally Making Noise.” A death rattle, perhaps? Try as they may, the mainstream media simply cannot prepare for public viewing the gaping wound to the head that murdered the U.S. economy. Never mind the Dow, the Fed Funds rate, or Apple’s latest earnings ...
Cryptocurrencies crash after India vows to eliminate their use
Post Date: 2018-02-02 05:20:24 by Tatarewicz
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RT... Bitcoin and other major cryptocurrencies are falling substantially on Thursday after India announced a crackdown on their trading and circulation. The largest cryptocurrency, bitcoin, dropped over 12 percent below $9,000, the lowest level seen since November. Read more © Thomas White India cracking down on ‘illegal’ cryptocurrencies The Indian Finance Ministry on Thursday made bitcoin illegal and announced an upcoming ban. “The government does not consider cryptocurrencies as legal tender or coin and (will) take all measures to eliminate the use of crypto assets,” Finance Minister Arun Jaitley said. India is one of the largest bitcoin markets, with a 10 ...
US and Switzerland among most corrupt nations, statistics show
Post Date: 2018-02-01 17:47:19 by Ada
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The Tax Justice Network produces a Financial Secrecy Index, ranking countries for the assistance their legal systems provide, to money-launderers, and to all people who seek to protect corruptly-obtained wealth. The higher the score, the more corrupt the government is. The last time this Index was published, in 2015, Switzerland was rated the world’s most-corrupt country, and Hong Kong was then #2. But now, in its newly released global rankings, “Financial Secrecy Index — 2018 Results”, though Switzerland still holds its #1 (most-corrupt) spot, the U.S. has become #2, and Hong Kong has now fallen to #4, which is immediately below Cayman Islands (which is #3, and ...
Apple buying Tesla doesn't sound like a crazy idea anymore — here's why
Post Date: 2018-01-31 04:35:28 by Tatarewicz
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BusinessInsider... The idea that Apple should buy Tesla has been floated many times. Apple now has more than enough cash coming back to the US to do the deal. Tesla needs to be saved from its delusional idea about the company's future growth — and Apple needs to be saved from the disaster of its car project. Last November, Rolling Stone published a profile of Tesla CEO Elon Musk, written by Neil Strauss, a neo-gonzo journalist who made his name with a book about pickup culture. And in that interview Musk made a confession. "I wish we could be private with Tesla," Musk told Strauss. "It actually makes us less efficient to be a public company." Tesla has been ...
Why Washington is waging a global war on cash
Post Date: 2018-01-30 07:30:35 by Tatarewicz
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Sypers A Well-Kept Open Secret: Washington Is Behind India’s Brutal Demonetization Project The business interests of the US-companies that dominate the gobal IT business and payment systems are an important reason for the zeal of the US-government in its push to reduce cash use worldwide, but it is not the only one and might not be the most important one. Another motive is surveillance power that goes with increased use of digital payment. US-intelligence organizations and IT-companies together can survey all international payments done through banks and can monitor most of the general stream of digital data. Financial data tends to be the most important and valuable. Even more ...
Can Saudi Arabia survive US shale oil boom?
Post Date: 2018-01-30 00:33:25 by Tatarewicz
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PressTV... The United States is on course to take over Saudi Arabia and even rival Russia as the world’s leading energy producer this year following a months-long price rally that has fueled a resurgence of the shale oil industry. The explosive growth flies in the face of efforts by Saudi Arabia and its oil allies to squeeze the US shale drillers by keeping prices low. As part of that drive, Saudi Arabia has been flowing the market with oil since 2014 in an attempt to push higher-cost producers, particularly US shale, out of the market. Consequently, oil prices dropped to $40 a barrel in December of that year, down from more than $100 a barrel just four months previous. Many US ...
Official: Russia's Tatneft Ready to Help Iran Develop Oilfields
Post Date: 2018-01-29 06:45:00 by Tatarewicz
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TEHRAN (FNA)- The Russian oil and gas company Tatneft declared its readiness to cooperate with Iran in developing the country's oilfields, specially in Shadegan project. "We are ready to cooperate with other Russian oil company, Zarubezhneft, over the Shadegan oilfield project in Southern Iran," General Director of Tatneft Company Nail Maganov said. "Our Company is always ready to cooperate with Iran if the situation allows," he added. Maganov said that the Tatneft Company is interested in participating in the project of exploitation of two Iranian oilfields Shadegan and Dehloran and is ready to negotiate with other companies including the Iranian ones ...
Orthodox Leader Says Russians Should Stop 'Losing their Minds' Over Bitcoins Patriarch Kirill
Post Date: 2018-01-29 01:05:23 by Tatarewicz
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MoscowTimes... The leader of Russia’s Orthodox Church has spoken out against the latest craze over cryptocurrencies, calling for cooler heads and government protection against "outright deception. "The bitcoin cryptocurrency is currently trading at around $10,000 after a head-spinning 2017 that saw it peaking at $20,000 in mid-December. Cryptocurrencies have been a big hit in Russia, despite fears over their volatility. Read More Read more: Russia Is Becoming a Cryptocurrency Haven “People are selling all of their property to get a chance at quick enrichment by buying cryptocurrencies,” Patriarch Kirill said in an address to Russian senators on Thursday. He said ...
China unveils huge plans for the Arctic, with ‘Polar Silk Road’ on the way
Post Date: 2018-01-27 01:04:20 by Tatarewicz
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RT... Beijing has announced plans to extend the ambitious Belt and Road Initiative to the Arctic by developing shipping routes. In a white paper released on Friday, the country said it expects to have a “major role in expanding the network of shipping routes” and noted that “as a result of global warming, the Arctic shipping routes are likely to become important transport routes for international trade.” It added that it would encourage enterprises to build infrastructure and conduct commercial trial voyages, paving the way for Arctic shipping routes that would form a “Polar Silk Road.” Chinese Vice Foreign Minister Kong Xuanyou shows a white paper on ...
Inside the group chats where people pump and dump cryptocurrency
Post Date: 2018-01-25 08:10:56 by Tatarewicz
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How self-proclaimed “pump and dump groups” scam thousands of wannabe altcoin investors. Welcome to Big Pump Signal! We are a group that buys cryptocoins all at the same time to increase its value. We then sell for the increased price for huge profits! Every few days, 200,000 strangers come together online to buy little-known cryptocurrencies, also known as altcoins, at exactly 2 p.m. Eastern time. Then, anywhere from 30 to 120 seconds later, they sell them en masse (or at least try to). Those who buy and sell at the right time can potentially make out like bandits. Welcome to the wild world of altcoin “pump groups,” where participants believe they are the wolves, but ...
Will Work For No Benefits: The Challenges Of Being In The New Contract Workforce
Post Date: 2018-01-25 01:59:17 by Tatarewicz
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A new NPR/Marist poll shows that more than half of contract workers don't get employee benefits. "We really don't have much of a social safety net, and that's terrifying," freelancer Matt Nelson says. NPR logo Listen · 6:14 6:14 Heard on Morning Edition "We really don't have much of a social safety net, and that's terrifying," says Matt Nelson, a freelance Web developer in Madison, Wis. Noah Willman hide caption "We really don't have much of a social safety net, and that's terrifying," says Matt Nelson, a freelance Web developer in Madison, Wis. Noah Willman A new NPR/Marist poll finds that 1 in 5 jobs in America is held ...
US Fed will kill bitcoin eventually, investor warns
Post Date: 2018-01-24 08:34:00 by Tatarewicz
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RT... Bitcoin will not be part of US monetary policy, so the Federal Reserve will crack down on it, portfolio manager Steve Chiavarone warns. However, the blockchain technology behind cryptocurrencies will remain. “The currency itself isn’t a great medium of exchange, it’s not a great store of value. It has a fixed amount so the Fed would have to kill it at some point because they wouldn’t be able to engage in monetary policy,” Chiavarone said in an interview with CNBC. “But blockchain behind it, we think is more real than people are giving it credit." Read more A man walks past an electric board showing exchange rates of various cryptocurrencies ...
Bitcoin crashed because professionals cashed out, making a buck from last-minute amateur investors
Post Date: 2018-01-20 03:27:07 by Tatarewicz
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RT... The largest cryptocurrency bitcoin surged to $20,000 in December. Its rapid growth was due to common folk deciding to invest in the hope of making a quick buck. It was a time for professional investors to sell. Read more © Clodagh Kilcoyne ‘Bitcoin will take the arrows, settlers will get the wealth’ – PwC exec “Many people behind bitcoin and cryptocurrencies as a whole understand that the skyrocketing prices in the last few months are linked to a cash inflow from mass-market consumers. Even pensioners wanted to invest,” Georgy Verbitsky, managing director at eToro, Russia and the CIS, told RT. Bitcoin hit $20,000 last month, breaking new records every ...
Visa may be waging war against bitcoin by rejecting it as currency
Post Date: 2018-01-19 07:52:54 by Tatarewicz
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Visa may be waging war against bitcoin by rejecting it as currency Published time: 19 Jan, 2018 11:49 Get short URL Visa may be waging war against bitcoin by rejecting it as currency © Philippe Wojazer / Reuters The largest cryptocurrency, bitcoin, is a commodity and not a payment system, according to Visa’s chief executive. Visa will also not give bitcoin or other cryptocurrencies a platform for wire transfers and exchanges. “I don't view it as payment system player,” CEO Alfred Kelly told CNBC. “We at Visa won't process transactions that are cryptocurrency-based. We will only process fiat currency-based transactions,” he added. Visa is the ...
Bitcoin loses nearly half its value in crypto-market bloodbath
Post Date: 2018-01-17 05:48:37 by Tatarewicz
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RT... The cryptocurrency market has extended its losses, as major digital assets are trading 13 to 25 percent below previous day's prices. Digital-currency locomotive bitcoin has now slid below $11,000. The $11,000 milestone is 45 percent below the $20,000 peak that bitcoin touched just one month ago. Ethereum also plunged below the psychological $1,000 mark, and is on track to lose all its gains in 2018, which reached 100 percent just four days ago. Read more © Kai Pfaffenbach Bitcoin crashes to 6-week low as regulator crackdown escalates Ripple was down over 20 percent, trading at $1.15. This is a three-fold collapse from the $3.65 peak it hit on January 4. Bitcoin cash, ...
Eccentric Millionaire Reveals His Secret $1.8 Million Cryptocurrency Script
Post Date: 2018-01-14 02:48:29 by Tatarewicz
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Infomercial... Imagine… Making a retirement fortune from one single trade. Do you see now why historians will call this the biggest financial boom ever? And here’s the thing… As incredible as these gains are… That’s just a small taste of what’s coming in the next 12 months. How do I know that? Because so far cryptocurrencies are following a script that has been proven over, over and over again… Throughout every single financial boom in history. And according to this script… We’re on the Verge of a Massive Buying Frenzy… Starting With a Single Event on February 2 *The examples provided may not be representative of typical results. ...
The world’s most expensive oil
Post Date: 2018-01-13 06:03:45 by Tatarewicz
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RT... When asked about the most expensive oil grade out there, those working in the oil industry are caught blindsided because there’s no easy way to answer this question. The price of crude oil is determined by its physical characteristics (low-density, low-sulphur grade blends generally cost more, but there are several exceptions to this rule), classic supply-demand conditions, distance from main marketing outlets and trading hubs, potential risks and general market sentiment. Read more © Christian Hartmann Oil hits highest level since 2015 as Russian-Saudi output cuts bring result To make matters even more complicated, speculation plays a major part in price-setting, since ...
Goldman of crypto: Billionaire bitcoin buff to launch first cryptocurrency ‘merchant bank’
Post Date: 2018-01-12 07:12:37 by Tatarewicz
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Billionaire Michael Novogratz has unveiled plans to launch a full-service merchant bank dedicated to cryptocurrencies and blockchain-based ventures, with the aim of getting listed on Canada’s TSX Venture Exchange. Read more © Global Look Press Big money coming to bitcoin as investors seek to fill portfolios with digital cash The Wall Street trader is planning to raise $200 million if the initial public offering (IPO) of his company is successful. The firm, named Galaxy Digital, is building a “best-in-class, full-service, institutional-quality merchant banking business in the cryptocurrency and blockchain space,” according to Novogratz, as quoted by Bloomberg. Galaxy ...
US has to buy Russian natural gas as consumer prices soar
Post Date: 2018-01-10 04:15:01 by Tatarewicz
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RT... Russia will deliver liquefied natural gas (LNG) to the US, Kommersant daily reports. The reason for the deal is the sharp rise in gas prices on the east coast of the US. An LNG tanker belonging to French energy company Engie is now shipping from the British port of Isle of Grain to an American terminal, Everett, located near Boston. The gas being shipped is from Russia’s Yamal LNG plant, according to the newspaper. The tanker is due to arrive in the US on January 22. Read more © sovcomflot.ru First tanker of Russian gas arrives in UK to keep Britons from freezing this winter As the newspaper reports, the deal was signed because of rising gas prices – to an ...
Turkey to issue government bonds in rubles in 2018
Post Date: 2018-01-09 07:10:14 by Tatarewicz
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Fort-Russ... The Turkish government plans to create securities on its government debt obligations in various currencies in 2018, including rubles, said Turkish Deputy Prime Minister Mehmet Shimshek. "We are entering into a serious diversification of our government debt, sending a significant amount of money to new countries. For the first time we held a road show in Russia, analyzed the ruble-denominated bond market, and the first positive reactions from it. In 2018, we will try to sell our Bonds for Rubles. At the same time, we decided to enter the panda-bond market (nominated in Chinese renminbi) and we will develop our financial relations through the Chinese bank ICBC, which ...
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