Monthly Archives: December 2017

Cash House Sales Rising in U.S. Despite Stable Mortgage Market

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“Home buyers are facing a new challenge in finding mid-priced houses to purchase: Cash buyers who swoop in and snatch up all the properties.  According to a report in The Wall Street Journal, while mortgage lending is finally rebounding after the housing crash of a few years ago, cash deals are still at higher than normal levels – even with the prices of homes heading into record territory.”

Read more: https://www.pymnts.com/loans/2017/cash-payments-home-buying-mortgage-lending/

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China’s banks imperiled as property binge fuels mortgage fraud frenzy

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“Gravity-defying property prices in China have spawned widespread home-loan fraud as buyers fear missing out on what seems like a sure bet. Real estate agents, valuation companies and banks themselves are party to the scam.”

Read more: https://www.reuters.com/investigates/special-report/china-risk-mortgages/

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Welsh city refuses man’s £7.4 million offer to dig for lost Bitcoin

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“Welsh IT worker James Howells says he accidentally threw away a hard drive full of Bitcoin which he believes is now worth more than $100 million (around £74 million). He’s been fighting Newport city council ever since for a permit to look for the computer, which contains over 7,500 units of the cryptocurrency and is buried below thousands of tonnes of rubbish on a landfill site.  A spokesperson for the council said James has been told ‘on several occasions’ he will not be given a permit despite his offer of a 10% cut.”

Read more: http://www.walesonline.co.uk/news/wales-news/man-offering-welsh-council-74-13993161

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Trump to Relocate Israel Embassy to Jerusalem Over Protests

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“The timing couldn’t be worse, coming amid reports the US and Saudi governments intend to push a new peace deal which is overwhelmingly biased in favor of Israel, and which leaves the Palestinians with only ‘limited sovereignty’ and no state.”

Read more: http://news.antiwar.com/2017/12/05/trump-to-relocate-israel-embassy-to-jerusalem/

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US-Backed Saudi Coalition Should Lift Its Yemen Blockade

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“There are no heroes in the civil war between Houthi rebels, who have Iranian backing and were responsible for killing Saleh, and the Saudi-led coalition supporting Yemen’s government. Both sides have inflicted death and suffering on civilians. The Saudi coalition currently has a partial blockade on ports and airfields controlled by the Houthis.   Hostilities have already killed or wounded at least 14,000 people in nearly three years, and countless others have died from disease and starvation. Some 1 million people have contracted cholera in part because the lack of fuel has affected the ability to pump clean water.”

Read more: https://www.bloomberg.com/view/articles/2017-12-06/saudi-arabia-should-lift-its-yemen-blockade

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Judge halts Indiana city’s code-enforcement property seizure racket

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“The judge had particularly harsh words for Hall, who indicated in emails that it would be ‘financially disastrous’ for residents to try to improve their homes, because the homes would be demolished anyway. Such statements, coupled with the city’s policy of not levying fines against LLC-owned homes, undermine the goal of maintaining safety, Mount said.”

Read more: https://www.theindianalawyer.com/articles/45541-special-judge-halts-irrational-charlestown-code-enforcement

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How police used a traffic stop to take $91,800 from an innocent man

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“He only got a $25 ticket for improperly wearing his seat belt and a warning for ‘lane use.’ But Wyoming law enforcement officers found and eventually seized the $91,800 in cash, as it was hidden in a speaker cabinet — by getting Parhamovich, under what he claims was duress, to sign away his interest in the money through a waiver.  He has since tried to get his money back. But state law enforcement officials have rejected his pleas. Responding to a request for records related to Parhamovich’s case, state officials said they consider the cash ‘abandoned.’ The state has even moved to forfeiture the money without notifying Parhamovich of the relevant court hearing until after it happened.”

Read more: https://www.vox.com/policy-and-politics/2017/12/1/16686014/phillip-parhamovich-civil-forfeiture

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Here’s What the World’s Central Banks Really Think About Bitcoin

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“The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about the emergence and growth of the private cryptocurrencies that are grabbing more and more attention — with bitcoin climbing above $10,000. The second question is whether to issue official versions.”

Read more: https://www.bloomberg.com/news/articles/2017-11-26/what-the-world-s-central-banks-are-saying-about-cryptocurrencies

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Fed Official Decries Bitcoin as “Not Backed”

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“With one unit of Bitcoin now worth 10,000 times the US dollar, it makes sense that the Fed would begin to feel a bit defensive. Indeed, the speech comes to the defense of the central bank, the existing money, and payment system networks, and calls for the pace of innovation to be controlled by regulators in the interest of ‘prudence.'”

Read more: https://fee.org/articles/fed-official-decries-bitcoin-as-not-backed/

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US Senate Moves to Criminalize Undeclared Cryptocurrency Ownership

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“If passed, the bill would likely have far-reaching effects for users of digital currencies both in the US and abroad.”

Read more: https://cointelegraph.com/news/us-senate-moves-to-criminalize-non-disclosure-of-cryptocurrency-ownership

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