Tag Archives: Clueless

Bitcoin hype worse than ‘tulip mania’, says Dutch central banker

Posted on by

“The former president of the Dutch Central Bank, Nout Wellink, has told students at the University of Amsterdam that the hype around bitcoin is worse than his country’s Tulip mania in the 17th century.  ‘Sooner or later the facade will fall’, Wellink said, calling bitcoin ‘pure speculation’ and ‘hype’ according to comments reported in the Dutch press.  ‘This is worse than the tulip mania,’ he continued. ‘At least then you got a tulip [at the end], now you get nothing.’  Wellink’s comments follow a warning from the Dutch Central Bank about the risks of virtual currencies like bitcoin, which fall outside Dutch financial supervision laws.”

http://www.theguardian.com/technology/2013/dec/04/bitcoin-bubble-tulip-dutch-banker

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Alan Greenspan: Bitcoin Is a Bubble Without Intrinsic Currency Value

Posted on by

“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

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Pope slams capitalism as ‘new tyranny’

Posted on by

“The global economic crisis, which has gripped much of Europe and America, has the Pope asking how countries can function, or realize their full economic potential, if they are weighed down by the debts of capitalism.  ‘A new tyranny is thus born, invisible and often virtual, which unilaterally and relentlessly imposes its own laws and rules,’ the 84-page document, known as an apostolic exhortation, said.  ‘To all this we can add widespread corruption and self-serving tax evasion, which has taken on worldwide dimensions. The thirst for power and possessions knows no limits’, the pope’s document says.  Pope Francis asks for better politicians to heal the scars capitalism made on society.”

http://rt.com/news/pope-francis-capitalism-tyranny-324/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Ed & Ethan 86 Bountiful Baskets of Bitcoin Banter, Blather, and Bluster.

Posted on by

“Well, we had a veritable cornucopia of stories lined up for this week but the Bitcoin bug bit us and bit hard.  After hearing Peter Schiff talk about how Bitcoin is a Ponzi Scheme, we decided to book him for a quick back and forth that turned into an entire segment! We couldn’t let it go and turned to Erik Voorhees, a Bitcoin business rockstar and eloquent defender of the world’s leading cryptocurrency to take on some common myths pushed by Peter during our second half.”

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Economist Recommends ‘E-Dollar’ That Loses 5% Of Its Value Per Year

Posted on by

“‘If you care at all about the future of this country, one of the things you need to realize is we need to solve the demand side so we can get back to the supply side issues that are really the tricky thing for the long run,’ he said. ‘The way to solve the demand side issues that is the most consistent with not messing up our supply side is monetary policy and making it so we can have negative interest rates.’ At the moment, e-dollars are still only a theoretical concept, but Kimball is hopeful that they could be put into action in the near future. He believes that if a government bought in, it could be using an electronic currency in three years and reap the benefits of it soon after.”

http://www.businessinsider.com/electronic-currency-2013-11

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Meet Two Economists Who Can Ruin Your Retirement

Posted on by

 

“Messrs. English and Wilcox are two of the most important economists at the Federal Reserve. Their work greatly influences the Fed’s policies … and they recently presented their latest findings at the International Monetary Fund’s annual research conference.  Essentially, English and Wilcox’s new research argues that the Fed should start reducing the size of its money-printing programs in the next few months. But at the same time, the economists recommend that the Fed should offset that tapering with extremely dovish guidance on interest rates. More specifically, they suggest that the Fed should promise to keep rates close to zero until 2017!”

http://thesovereigninvestor.com/2013/11/18/meet-two-economists-can-ruin-retirement/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Plans for Political Union Unravel in Europe

Posted on by

“Advocates of tighter integration believe that the euro zone needs to go further by borrowing elements from the American system of federalism. Many proposals reflect a belief that the euro zone needs to partially mimic the U.S., where the dollar works well across all states partly because of budgets, bonds, financial oversight and depositor protection at the national level.  Over the past year, however, the political winds have shifted. Interviews with more than a dozen officials across Europe reveal how plans for deeper integration have run aground as financial markets have calmed and mistrust has simmered between power centers including Berlin, Brussels and Paris.”

http://online.wsj.com/news/articles/SB10001424052702303902404579149613200623696

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Execute elephant poachers on the spot, Tanzanian minister urges

Posted on by

“A government minister in Tanzania has called for a ‘shoot-to-kill’ policy against poachers in a radical measure to curb the mass slaughter of elephants.  Khamis Kagasheki’s proposal for perpetrators of the illicit ivory trade to be executed ‘on the spot’ divided opinion, with some conservationists backing it as a necessary deterrent but others warning that it would lead to an escalation of violence.  Tanzania is said to have lost half its elephants in the past three years.  Ivory has been dubbed the ‘white gold of jihad’ by activists who say it is funding armed rebel groups including al-Shabaab, the militia behind the siege of the Westgate shopping mall in Nairobi that left at least 67 people dead.”

http://www.theguardian.com/environment/2013/oct/08/shoot-elephant-poachers-tanzania-ivory

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

TWTC Stock Explodes In Another Case Of Mistaken Twitter Identity?

Posted on by

“With the TWTRQ bankrupt pennystock fiasco dead and buried (courtesy of a ticker change many thought the algo trading issues surrounding 2013’s TWTR mega IPO were resolved. Maybe not. As the chart below shows, TW Telecom briefly soared tenfold as yet another algo went berserk, sending the price from $30 to $300, and the market cap from $4.4 billion to $44 billion.  The trade was so grotesque even the exchanges noticed.  So aside from the obvious trade screw up, one wonders: was this just another case of mistaken ticker identity euphoria. After all TW Telecom’s ticker: TWTC. That of Twitter: TWTR.

http://www.zerohedge.com/news/2013-10-10/twtc-stock-explodes-clearly-erroneous-algo-finger-another-case-mistaken-twitter-iden

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Twitter IPO filing prompts mistaken buying rush of worthless TWTRQ stock

Posted on by

“Tweeter Home Entertainment Group, a consumer electronics retailer that declared bankruptcy in 2007, saw its share price balloon on Friday thanks to confused traders who thought they were buying into the newly announced stock offering from Twitter. Of course, Twitter shares aren’t yet available for public purchase, but that didn’t halt millions of transactions in the moribund Tweeter stock, which trades under the initialism TWTRQ, close but not the same as Twitter’s upcoming TWTR ticker. Trading in Tweeter shares was halted upon realization of the mass confusion, though not before the price reached a high of 15 times its typical valuation of a single cent.”

http://www.theverge.com/2013/10/5/4805010/twitter-ipo-filing-prompts-mistaken-buying-rush-of-worthless-twtrq

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet