Tag Archives: American Ruling Class

Bitcoin and Intrinsic Value: a Layman’s Response to Alan Greenspan

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“Once upon a time, at the end of the last millennium, I founded and led the first games company to sell virtual goods or virtual currency for real money.  We sold (and still sell) ‘credits’ – virtual currency that is bought for real money, which players can use to buy other things in our games.  When I first started selling credits, a lot of people, including almost everyone in the games industry who was aware of what we were doing, thought it was ridiculous. The general criticism was along the lines of: ‘Why would someone pay real money for a fake sword?’  16 years later, people are still buying these credits, and they’re even used to pay other people for third-party services around our games.”

http://www.coindesk.com/bitcoin-intrinsic-value-alan-greenspan/

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Alan Greenspan: Bitcoin Is a Bubble Without Intrinsic Currency Value

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“The former Federal Reserve chairman said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency.  ‘It’s a bubble,’ Greenspan, 87, said. ‘It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.’  ‘I do not understand where the backing of Bitcoin is coming from,’ the former Fed chief said. ‘There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money.'”

http://www.bloomberg.com/news/2013-12-04/greenspan-says-bitcoin-a-bubble-without-intrinsic-currency-value.html

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Ron Paul: You Cannot Negotiate With Iran?

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American Exceptionalism: Putin, the Neocons, and Ron Paul

“The warmongers who call themselves ‘foreign policy experts’ have been exposed. The whole world sees that they are wrong. Their advice is bad. Their limited vision of how foreign affairs should be conducted is actually dangerous to the United States. It is now clear that there are workable alternatives. As with the US threats against Syria, public opinion polls on talks with Iran demonstrate that the American people are solidly behind diplomacy and opposed to another war. According to one recent poll, Americans support the deal reached with Iran by a margin of two-to-one.”

http://www.thedailybell.com/editorials/34793/Ron-Paul-You-Cannot-Negotiate-With-Iran/

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State Department’s Bar Tab: $415,000 a Year

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“While the rest of the government prepared to shut down this fall, the State Department was busy stocking up on embassy liquor supplies.  In September, the State Department spent about $180,000 — and racked up a total of more than $400,000 for the whole year, three times the entire liquor tab for all of 2008.  The liquor bill, split among purchase orders placed at embassies around the world, included some major last-minute pre-shutdown splurges:  $5,625 in ‘gratuity wine’ at the embassy in Rio de Janeiro on Sept. 29, followed by $5,925 in ‘gratuity whiskey’ on the day the shutdown began.  $22,416 in wine at the embassy in Tokyo. $15,900 in bourbon and whiskey in Moscow.”

http://teapartyeconomist.com/2013/12/04/state-departments-bar-tab-415000-year/

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Why Is Not-Pot Illegal Too?

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“Hemp’s current economic value is difficult to determine because it has been linked with marijuana and considered illegal in many countries, including the US since 1937.  Australia, Canada, and many other countries have all legalized the growing of hemp in recent years. France has a long tradition of growing hemp for seed oil and China plans to substantially increase acreage and production of hemp, primarily for textile production.  If the silly and sordid prohibition against hemp is repealed we will get the final verdict from the marketplace.”

http://mises.org/daily/6600/Why-Is-NotPot-Illegal-Too

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Filibuster change clears way for White House to stack ObamaCare panel

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“President Obama will have an easier time filling the 15 slots on a controversial Medicare-cutting board, thanks to Harry Reid’s successful bid last week to overhaul the Senate’s filibuster rules.  The Senate Democratic leader, in a pre-holiday surprise, last week corralled Democrats to drastically change how the Senate deals with presidential nominees. Instead of taking 60 votes to confirm most appointees, it will now take just 51.  That means, as long as Democrats are in power, it smoothes the way for Obama to appoint people to the panel established under ObamaCare to hold down Medicare costs.”

http://www.foxnews.com/politics/2013/11/26/reid-filibuster-overhaul-clears-way-for-white-house-to-stack-obamacare-panel/

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Party On Wall Street! Larry Summers Wants to Charge People for Saving

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“The Wall Street Party we’ve forecast continues to build.  The JOBS Act is forcing new product into the IPO market.  QE continues in the US, Britain and Europe.  Janet Yellen and Mark Carney are not about to try to taper in any serious way.  The fracking meme continues to be pursued, giving people at least the illusion of more gas and oil to stimulate another industrial boom.  And now, to ensue that money flows copiously, top bankers are obviously considering negative interest rates. How do you increase consumer spending, thus contributing to the Wall Street Party about which we’ve regularly written? Try to increase the velocity of money any way you can.”

http://www.thedailybell.com/news-analysis/34794/Party-On-Wall-Street-Larry-Summers-Wants-to-Charge-People-for-Saving/

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Paul Craig Roberts: The Money Changers Serenade – A New Plot Hatches

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“At the IMF Research Conference on November 8, 2013, former Treasury Secretary Larry Summers presented a plan to expand the con game.  Summers says that it is not enough merely to give the banks interest free money. More should be done for the banks. Instead of being paid interest on their bank deposits, people should be penalized for keeping their money in banks instead of spending it. Summers acknowledges that the problem with his solution is that people would take their money out of banks and hoard it in cash holdings. Summers has a fix for this: eliminate the freedom by imposing a cashless society where the only money is electronic.”

http://www.paulcraigroberts.org/2013/11/29/money-changers-serenade-new-plot-hatches-paul-craig-roberts/

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The Kennedy Assassination (November 22, 1963) 50 Years Later

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“JFK was on terrible terms with the CIA and the Joint Chiefs. He had refused to support the CIA organized Bay of Pigs invasion of Cuba. He had rejected the Joint Chiefs’ ‘Operation Northwoods,’ a plan to commit real and faked acts of violence against Americans, blame Castro and use the false flag events to bring regime change to Cuba. He had rejected the Joint Chiefs case that the Soviet Union should be attacked while the US held the advantage and before the Soviets could develop delivery systems for nuclear weapons. He had indicated that after his reelection he was going to pull US troops out of Vietnam and that he was going to break the CIA into a thousand pieces.”

http://www.paulcraigroberts.org/2013/11/21/kennedy-assassination-november-22-1963-50-years-later/

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D.C. awash in contracts, lobbying wealth

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“During the past decade, the region added 21,000 households in the nation’s top 1 percent. No other metro area came close.  Big companies realized that a few million spent shaping legislation could produce windfall profits. They nearly doubled the cash they poured into the capital.  The signs of the new Washington are everywhere — from the Tiffany store that Fairfax County (Va.) development officials boast is the most profitable in the country to the new Tesla dealership in Tysons Corner.  A company called Strategas has built an index to track the stock performance of the 50 companies that lobby the most; last year, that index outperformed the rest of the market by 30 percent.”

http://www.stltoday.com/news/national/govt-and-politics/d-c-awash-in-contracts-lobbying-wealth/article_53336d9b-a75f-5a1a-bb19-d46d3186a960.html

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