Monthly Archives: November 2013

Stock-Market Rally Watch, Part III

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“Keep an eye on the growth rate in margin borrowing instead of the absolute level of margin debt, as staggering as it may appear. Margin debt is growing at an annual rate of 27 percent, as you can see in the lower panel of the chart above (black dotted line). That might sound high, but, historically, it’s nowhere near previous peaks.  When stocks topped out in 2000, margin debt was growing 68 percent, according to Merrill Lynch research. And just before the peak in 2007, it was expanding 78 percent. Reaching those levels would be a red flag, but we’re not even close now. The real trouble starts when margin debt stops growing at a fast pace while stocks keep rising.”

http://www.moneyandmarkets.com/stock-market-rally-watch-part-iii-56156

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Newark Cops Kill Alleged Drug Dealer, Neighbors Attack Police

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“Neighbors at the scene, who pelted the sheriff’s office vehicle with rocks and debris, breaking at least one window, had a different version of events. Several of them told a Star-Ledger reporter that the deputies hit the man with their vehicle, then shot him as he lay on the ground. None of those interviewed would give their names, saying they feared retribution from the police.  ‘Why did you have to hit him with a car? Why’d you have to shoot him in the back?’ people shouted over Ambrose as he spoke to reporters.”

http://stopthedrugwar.org/chronicle/2013/nov/07/newark_cops_kill_alleged_drug_de

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Should anyone own parts of the moon?

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“Robert Bigelow, the founder of Bigelow Aerospace, made a fortune in the hotel and real estate businesses, and he’s pouring hundreds of millions of dollars into an enterprise that will create inflatable habitats designed for life beyond Earth. He entered into an agreement with NASA to provide a report on how ventures like his could help NASA get back to the moon, and even Mars, faster and cheaper. The catch? It needs to be worth his while.  Bigelow is applying to the FAA’s Office of Commercial Space Transportation to amend a 1967 international agreement on the moon so that a system of private property rights can be established there.”

http://www.cnbc.com/id/101195299

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New Spying Apparatus Installed Throughout Downtown Seattle

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“The SPD declined to answer more than a dozen questions from The Stranger, including whether the network is operational, who has access to its data, what it might be used for, and whether the SPD has used it (or intends to use it) to geo-locate people’s devices via their MAC addresses or other identifiers.  Seattle Police detective Monty Moss, one of the leaders of the mesh-network project—one part of a $2.7 million effort, paid for by the Department of Homeland Security—wrote in an e-mail that the department ‘is not comfortable answering policy questions when we do not yet have a policy.'”

http://www.thestranger.com/seattle/Content?oid=18143845

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Chicago’s Sky-High Tobacco Tax Creates a Huge Black Market

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“Tobacco importers rent 18-wheelers and drive to tobacco-growing states — recipients of federal tobacco subsidies — that have very low taxes on tobacco. They load up these low-tax products. Then they drive to Chicago. They sell the tobacco at below-market prices. Cigarettes are especially profitable.  This is not regarded by politicians as the free market at work — a tax revolt by the little people. They see this as a crime. They label this market as a black market. In Cook County, it really is. Blacks are the primary targets. A local ABC-TV reporter says that ‘taxpayers are losing millions.’ On the contrary, tax collectors are losing millions. Taxpayers are saving millions.”

http://teapartyeconomist.com/2013/11/14/chicagos-sky-high-tobacco-tax-creates-huge-black-market/

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Bitcoin Coming To Your 401(k)?

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“Bitcoins may very well be coming to a 401(k) near you because recently two new funds have thrown their hats into the ring with their goal to offer investors a more accessible way to gain exposure to this alternative currency and further diversify their portfolios. SecondMarket recently launched a Bitcoin fund, but it’s only available to accredited investors meeting a net worth requirement. The Winklevoss brothers, famous for their involvement with Facebook, are launching a Bitcoin ETF available to all investors.”

http://www.forbes.com/sites/robrussell/2013/11/13/bitcoin-coming-to-your-401k/

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Is It Time to Boycott All US Bitcoin Companies?

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“Regulators in the US and possibly other countries are waiting for such a database to exist so that they can require all companies in their jurisdiction to only accept payments from customers whose identities can be fully tracked. Matt Mellon, Alex Waters, and Yifu Guo are apparently willing to build it for them. Now you know who to thank for selling out your financial privacy.  Note how badly it damages the value of a Bitcoin balance. Do you currently care about the complete history of every physical currency note you carry in your wallet? What if stores would suddenly reject your cash because two years ago someone you never even met used in the commission of a crime?”

http://bitcoinism.blogspot.com/2013/11/is-it-time-to-boycott-all-us-bitcoin.html

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Juan Llanos About Bitcoin Licensing

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“If you are a Bitcoin entrepreneur anywhere in the world you need to watch this interview with Juan Llanos, member of the regulatory affairs committee of the Bitcoin Foundation.
In many cases it doesn’t matter where your company is located, what matters is where your customers reside!  Also, if you are a Bitcoin enthusiast and customer of new Bitcoin services, this concerns you too. The rules are strict and if your wallet or exchange providers are not properly licensed you could lose your money.”

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Brooklyn Businesses: Show Me The Virtual Money

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“The five Brooklyn businesses owned by Dan Lee’s family — including the Boerum Hill restaurant Oxford Kitchen — accept bitcoins and even offer a 10-percent discount for those customers who use them.  ‘I thought it was kind of a novel idea,’ said Lee, the restaurant’s business manager.  Only a small number of businesses accept bitcoins, but there are also online businesses that take them.  For the first six months, not a single customer paid with bitcoins at Oxford Kitchen, but it seems now, the concept has caught on and roughly five customers a day pay for their purchases with bitcoins, Lee said.”

http://newyork.cbslocal.com/2013/11/13/brooklyn-businesses-show-me-the-virtual-money/

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Sen. Rand Paul Questions DHS Nominee Jeh Johnson On Financial Privacy

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