Tag Archives: Economics

Bitcoin: Experts clash over the crypto-currency

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“Bitcoin is reaching new heights thanks to a combination of speculation on future value and genuine, undeniable usefulness.  Think about it: Why can it take days or weeks for banks to send money around the world, when an email travels in seconds?  Does the money travel by steamboat?  Are they loading gold bars onto the side of a camel and sending it over the mountains of Mongolia?  Of course not.  The real answer is depressing – banking is a stagnant market running on long-obsolete infrastructure, which improves only when forced to by government.  [..] When Metro Bank opened in 2010, it received the first new UK banking licence issued in 150 years.”

http://www.bbc.co.uk/news/technology-25130261

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Mark Thornton exclusive RT TV interview on Bitcoin

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“Mr. Thornton is a Senior Fellow at Ludwig von Mises Institute; an American economist.”

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

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“‘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

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Open the Window and Let Out Tedious Tapering

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“The exercise of power is often a ludicrously simple thing. And Federal Reserve deliberations often partake of such simplicity.  The tapering debate is yet one more example. It is symptomatic of a dialectic that everyone can understand and participate in. We are meant to examine two choices, and two choices only: Either the Fed tightens or it doesn’t. Either of these choices acknowledges the primacy of the Fed and its central importance. The Fed is NOT intrinsically important. Absent the force of the state, there is no way that a tiny group of mis-educated people would be able to gather in a well-appointed room to fix the value and volume of money for hundreds of millions.”

http://www.thedailybell.com/news-analysis/34767/Open-the-Window-and-Let-Out-Tedious-Tapering/

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Census Fakery and Banana Republics

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“In the home stretch of the 2012 presidential campaign, from August to September, the unemployment rate fell sharply — raising eyebrows from Wall Street to Washington. The decline – from 8.1 percent in August to 7.8 percent in September – might not have been all it seemed. The numbers, according to a reliable source, were manipulated. And the Census Bureau, which does the unemployment survey, knew it. Just two years before the presidential election, the Census Bureau had caught an employee fabricating data that went into the unemployment report, which is one of the most closely watched measures of the economy.”

http://www.thedailybell.com/news-analysis/34766/Census-Fakery-and-Banana-Republics/

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Bill Bonner: Gold 2.0

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“Publicly, the feds are playing it cool with bitcoin. Privately, they must be sweating. As we told a small group of Bonner & Partners Family Office members last week at our private meeting in Nicaragua, bitcoin has the potential to be ‘gold 2.0.’ The new virtual money has the potential to destroy the dollar… the Fed… the banks… and the world’s fiat money system.  It could also make gold obsolete. This new money is easier to use and costs nothing to store.  But regulate it? That may be impossible.  Bitcoin is arguably the most disruptive monetary technology yet invented. It could be the biggest financial story since gold. Nothing like it has happened in 6,000 years – an entirely new, better, kind of money.”

http://www.bonnerandpartners.com/gold-2-0/

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The Fundamental Characteristic that Recommends Janet Yellen

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“We expect an ever more emphatic stream of double-talk and market manipulations as the final acts of this tragedy play out. First, a Wall Street Party and then … the ruinous aftermath. And throughout this scenario, the constant, delusional drip of increasingly unmoored statements about the Fed’s competence and the government’s efficiency generally. Somehow the eventual unwinding of these trillions shall be blamed on the private markets and as everything crashes down, those at the top will suggest a new and even more globalized system using the strategies that have created such domestic havoc.”

http://www.thedailybell.com/news-analysis/34763/The-Fundamental-Characteristic-that-Recommends-Janet-Yellen/

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Meet Two Economists Who Can Ruin Your Retirement

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“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/

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Jim Rogers: Biggest Event of Next 10-20 Years Just Happened in China

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“The former George Soros partner–who retired from Wall Street at age 37 to live a second life as world traveler—equates the plenum to those in 1978 and 1993. The first followed Mao Zedong’s death and ushered in Deng Xiaoping’s reformist agenda and his effort to remake China’s economy, while 1993’s plenum included a vow to deal with money-losing state enterprises. In the just-concluded gathering, which occurred a year after President Xi Jinping became party chief and was seen as his stage to set forth the agenda for his possible 10-year tenure, reform was hoped to be a big focus. Mr. Rogers, who moved with his family to Singapore seven years ago, senses change is coming.”

http://blogs.wsj.com/moneybeat/2013/11/18/jim-rogers-biggest-event-of-next-10-20-years-just-happened-in-china/

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Bill Bonner: Paddywhacking

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“Last week, Janet Yellen told the Senate what everyone wanted to hear: that the Fed would continue to support asset prices. With the ‘Yellen put’ in their pockets, investors bid up the Dow to over 16,000 by the end of the week.  What to make of it?  Although we have no doubt that Fed policies will prove disastrous, we have nothing but doubts about what form the disaster will take. John Williams of ShadowStats.com recalculates the Consumer Price Index, official unemployment rates and GDP figures based on more honest data and alternative methodologies. What he discovers is that the CPI is higher, unemployment is higher and the GDP is lower than the feds would have us believe.”

http://www.bonnerandpartners.com/paddywhacking/

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