Monthly Archives: February 2014

‘Six Californias’ plan doable, could be on November ballot

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“Tim Draper, the multimillionaire Silicon Valley venture capitalist behind the proposal, said he was encouraged by the California legislative analyst’s report, declaring that dividing the nation’s largest state is ‘clearly legal and doable.’  ‘It is obvious that we need a breath of fresh air in California government, and creating six new states allows the refresh we need,’ Mr. Draper said in an email after the study was made public over the weekend. The report notes that congressional approval would be required even if California voters support the amendment. Organizers are working to gather the 1 million signatures needed to place the measure on the November ballot.”

http://www.washingtontimes.com/news/2014/feb/4/six-californias-plan-difficult-but-doable-assessme/?page=all

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California Leads Nation with Sound Money — in 1865 [2010]

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“In the spring of 1863, California created a law that allowed any business contract to identify the kind of money or currency to be used in the fulfillment of the contract. If the contract required payment in gold, for example, then only a gold payment fulfilled the contract. In the other states, greenbacks could be a substitute for gold or silver payments. By the time McCulloch was appointed treasury secretary, just 37 months after the Legal Tender Act, greenbacks were worth less than half of their original value. California’s hesitancy to use these demand notes as an equal exchange for gold was proving wise.”

http://mises.org/daily/4625

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Bitcoin Declared ‘Lawful Money’ in California Assembly

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“The California State Assembly has unanimously passed measure AB 129 declaring Bitcoin and other cryptocurrencies as ‘lawful money.’  To be clear, ‘lawful money’ is different from ‘legal tender.’ ‘Lawful money’ describes any currency that is legal to use in exchange for goods and services, but is not required to be accepted for debts, taxes, or any other dues.  Before the passing of measure AB 129, Bitcoin and other cryptocurrencies were not deemed ‘lawful money.’ In the state of California, it is against the law to issue or circulate any currency that is not ‘lawful money,’ and doing so can result in fines up to $15,000 or 15 years imprisonment.”

http://bitterco.in/bitcoin-lawful-money-declared-in-california-assembly/

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Arizona legislators authorize gold and silver as legal tender, again

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“Today, the Arizona State Senate passed a bill that would legalize gold and silver as legal tender, moving the legislation on to the House for consideration.  If passed into law, Arizona could become the second state to recognize gold and silver as legal tender authorized for payments of debts and taxes.  SB1096 passed by a vote of 18-12.  A similar bill was introduced last year. The bill passed both the House and Senate and made it to the Governor’s desk – where Jan Brewer ultimately vetoed it.”

http://benswann.com/arizona-legislators-pass-bill-to-authorize-gold-and-silver-as-legal-tender/

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The TSA is looking for Bitcoin

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“TSA has been trained, although poorly, to look for Bitcoin. They are apparently now trying to catch money launderers in addition to terrorists, and large tubes of tooth paste. My hoodie is probably what caught their attention, and everything after that received extra attention. When they saw all the metal lapel pins in my bag they probably thought they hit the jackpot on a stockpile of Casascius coins. Whatever training they had it probably included that stock photo of brass tokens everyone uses. My evasiveness only quickened their blood lust, as they imagined a big bust, and possibly a promotion down the security track.  It was an open faced lie when they said they ‘saw’ Bitcoins in my bag.”

http://dailyanarchist.com/2014/02/24/the-tsa-is-looking-for-bitcoin/

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100 Bitcoin ATMs will arrive in Spain in the next three months

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“Bbank is the company that distributes the Bitcoin ATMs, and PayMaQ the company that manufactures them in Spain. In Spain, there are not special laws for Bitcoin, so Bitcoin ATMs are regulated by the same laws as vending machines and you do not need a special permission to install them.  The company has two different versions. With the first version, users can only buy Bitcoin with cash in euros using bill from 20 to 500€. The second version is still under development, and it will be ready in the next weeks, with it, users can buy and sell Bitcoin from the machine.  The first ATM has been presented this Saturday in Barcelona, inside a mall called ‘Diagonal Mar.'”

http://www.cryptocoinsnews.com/2014/02/23/100-bitcoin-atms-will-arrive-spain-next-three-months/

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Bank run starts in Ukraine; Long Queues to Withdraw Cash

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Ponzi Pandemic: 500+ Schemes Totaling $50+ Billion in ‘Madoff Era’

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“The Ponzi Database, which was recently published at Ponzitracker.com, represents the first single comprehensive source to provide a window into the financial scourge that has inflicted irreparable damage on an investing public over the past six years.  The significant sample size also allows for a truly birds-eye view at just how widespread Ponzi schemes have become.  Indeed, in the six-year span from 2008 to 2013, Madoff’s scheme was only one of over 500 Ponzi schemes that collectively involved over $50 billion.  That’s billion with a ‘B.’ On average, a Ponzi scheme was uncovered or busted every four days in that six-year period.”

http://www.forbes.com/sites/jordanmaglich/2014/02/12/a-ponzi-pandemic-500-ponzi-schemes-totaling-50-billion-in-madoff-era/

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Ukraine Pledges to Protect Bank Deposits as Kiev Rally Called

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“Ukraine is weighing measures to stem cash withdrawals after as much as 7 percent of deposits were taken from banks during last week’s bloody uprising, underscoring the need for action to fend off a default.  Withdrawals peaked with as much as 30 billion hryvnias ($3.1 billion) Feb. 18-20 as police and anti-government demonstrators fought in the center of Kiev, Natsionalnyi Bank Ukrainy Governor Stepan Kubiv, 51, said in his first interview since being appointed Feb. 24.  The interim administration is trying to secure as much as $35 billion in financial aid.  The IMF will probably send a team to Ukraine as soon as the country seeks financial aid, Managing Director Christine Lagarde said.”

http://www.businessweek.com/printer/articles/686437?type=bloomberg

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Bank-like Bitcoin Portal Neo Opens First Branch in Cyprus

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“The world’s first brick-and-mortar bitcoin deposit and financial services portal, Neo, opened the doors to its flagship branch in Cyprus at 10:30am local time today.  Neo is the ‘bank-like’ arm of bitcoin business twins Neo & Bee, with Bee serving as the payment processing network. Cypriot residents will have access to services ‘allowing them to interact with their money like they would with Euro deposits in any traditional bank’, including deposit, savings, business and merchant accounts.  This offers the public access to the benefits of bitcoin without needing to worry about wallet security, online service hacks, or even being technologically literate at all.”

http://www.coindesk.com/bank-like-bitcoin-portal-neo-opens-first-branch-cyprus/

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