Monthly Archives: June 2013

Former Clinton, Cameron Advisors: ‘Why Bitcoin is on the money’

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“This phenomenon is part of a wider trend towards networked and globalised power structures that tend to undermine the nation state-based systems to which we have grown accustomed. Last week, the world’s most powerful nations grappled with the complexity of a global tax system. But almost unnoticed, the rise of digital currencies like BitCoin threatens to render obsolete even the modest progress made by the G8. BitCoin’s distributed network structure makes it hard for any one country or group of countries to regulate its activities. Opportunities for larger players are presented by immediate and secure value transfer, delivered anonymously and at next-to-zero cost.”

http://www.telegraph.co.uk/science/10139651/Why-Bitcoin-is-on-the-money.html

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Ghana arrests 124 Chinese citizens for illegal Gold mining

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“Local police arrested the suspected illegal miners in the country’s capital, Accra. Many of them are likely to face deportation. Ghana, the continent’s second-largest gold producer, has forbidden foreigners from working in its small-scale mines since the 1980s. Locals have criticised Chinese miners for taking local jobs, polluting lakes and rivers, and wielding weapons such as AK-47 rifles to ward off robbers.  More than 50,000 Chinese gold miners have been to Ghana since 2005. Two-thirds of them come from Shanglin, an impoverished county in southern Guangxi province where news of the gold rush spread by word of mouth.”

http://www.bullionstreet.com/news/ghana-arrests-124-chinese-citizens-for-illegal-gold-mining/4935

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Snap up a pint in Britain’s first Bitcoin pub

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“Bitcoin has its first British boozer. The Pembury Tavern in Hackney, east London – as well as its sister pubs in Cambridge, Norwich and Peterborough – are now accepting the virtual currency.  The system is quick and effective. The bar staff press two buttons on the till and the screen displays a QR code. The customer opens their digital Bitcoin wallet, takes a snap of the screen and confirms the payment. The staff press one more button and the transaction is complete. Snapping the QR code in a crowded bar could be a challenge but in a quiet pub it is faster than paying by card.”

http://www.guardian.co.uk/technology/shortcuts/2013/jun/23/britains-first-bitcoin-pub

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Silver found to be key weapon in fight against antibiotics resistance

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“Silver may be a key weapon in the fight against drug-resistant bacteria, according to Boston University scientists.  A team of researchers lead by biomedical engineer James Collins, say adding silver to antibiotics can make them up to 1,000 times more effective, especially when it comes to combating Gram-negative bacteria — one of the hardest pathogens to kill. The findings, published in the journal Science Translational Medicine, comes only weeks after Britain’s top doctor, Sally Davies, began its media campaign to warn about the rise of drug-resistant superbugs, which she considers a risk for humankind of ‘apocalyptic consequences.'”

http://www.mining.com/silver-found-to-be-key-weapon-in-fight-against-antibiotic-resistance-62158/

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New Gold Import Tax In Sri Lanka

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“Sri Lanka has announced a 10 per cent tax on gold imports in what observers said was a bid to curb smuggling to India as global markets trading in the precious metal reported sharp price drops to 2010 levels.  Earlier this week India — the world’s largest consumer of gold — hiked import duty on the precious metal to eight per cent to stem surging demand and reduce the country’s ballooning current account deficit, as consumers sought to exploit the fall in prices. Local industry watchers say the new tax in Sri Lanka would push up local prices and claimed the government move was aimed at curbing local traders who smuggle gold into India.”

http://dawn.com/news/1020139/gold-import-tax-in-sri-lanka

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Jim Rogers: I Bought More Gold Today; Bull Market Far From Over

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“I bought more today, as a matter of fact. I bought a little bit, not much, over the last few days in case this was the bottom. I would not be surprised if there’s another chance to buy lower later on, but I’m buying and I own it. I haven’t sold any. Long bull markets always end in a bubble or mania before it’s over with. And when there’s a bubble in gold, I hope I’m smart enough to get out. We haven’t seen a bubble yet. Until recently, if you went around any U.S. city, you would see signs outside many jewelry stores saying ‘We buy gold.’ Later there’ll be signs there saying, ‘We sell gold,’ and people will be lining up to buy it in big ways.”

http://www.hardassetsinvestor.com/interviews/4917-jim-rogers-i-bought-more-gold-today-bull-market-far-from-over.html?showall=&fullart=1&start=2

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Contrarians “Would Buy Gold & Bonds” Says Marc Faber as Rising Dollar Dents All Asset Prices

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“‘Right now equities, bonds and gold are very over-sold,’ said Dr.Marc Faber – author of the Gloom, Boom & Doom Report – to Bloomberg on Friday, ‘and they could easily rally.’
Compared to the stock market however, ‘sentiment in bonds and gold is incredibly negative. In other words, as a contrarian I would rather buy bonds and gold than equities.’
Also giving a reading contrary to the headlines about ending QE which followed Ben Bernanke’s press conference last Wednesday, ‘Unless the economy has essentially fully recovered by mid-2014, more QE will be forthcoming,’ said Faber.”

http://goldnews.bullionvault.com/gold-faber-062420131

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When ETF Paper Beats Gold Rock

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“Demand for physical gold across the world continues to surge at an unprecedented pace leading India to blame its soaring current account deficit, sliding currency and even deteriorating economy on it (even if failing in its attempts to regulate demand for the yellow metal), and yet gold continues to slide. How come? One word – paper, or rather, ETF paper.”

http://www.zerohedge.com/news/2013-06-18/chart-day-when-etf-paper-beats-gold-rock

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Bill Bonner: An Important Lesson from Tony Soprano

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“Whew! The Fed is number one in central banking. And it’s finding out just how tough it can be to meddle with a $16 trillion economy.  On Wednesday, Ben Bernanke came out with a public statement. He said that if all went well… and he didn’t change his mind… and nothing unexpected came up…and the Fed’s Open Market Committee felt like it… the Fed would begin tapering its bond buying sometime soon. That was all it took to send a shiver up investors’ spines… and a sell signal to Wall Street. Everything sold off – stocks, bonds, commodities, gold… you name it.”

http://www.billbonnersdiary.com/articles/bonner-tony-soprano.html

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Paul Craig Roberts: Stasi In The White House

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“On June 19, 2013, US President Obama, hoping to raise himself above the developing National Security Agency (NSA) spy scandals, sought to associate himself with two iconic speeches made at the Brandenburg Gate in Berlin.  Fifty years ago, President John F. Kennedy pledged: ‘Ich bin ein Berliner’. In 1987, President Ronald Reagan challenged: ‘Mr. Gorbachev, tear down this wall.’ Obama’s speech was delivered to a relatively small, specially selected audience of invitees.  Even so, Obama spoke from behind bullet proof glass. Obama’s speech will go down in history as the most hypocritical of all time. Little wonder that the audience was there by invitation only.”

http://www.paulcraigroberts.org/2013/06/21/stasi-in-the-white-house-paul-craig-roberts/

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