Tag Archives: Money

Peak Cantillon Effect: Swiss National Bank Prints Its Way To Prosperity

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“The SNB raked in ENORMOUS investment profits because they printed hundreds of billions of francs, which inflated the prices of assets that they themselves were buying.  And today, because of those artificial investment gains that they engineered for themselves, the SNB is now the most profitable company in the world.  Oh, and just so you know the other half of the story, while the central bank is raking in record profits, total debt in Switzerland has skyrocketed.”

Read more: http://www.thedailybell.com/news-analysis/this-funds-investment-performance-rivals-bitcoin-puts-warren-buffett-to-shame/

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NJ Man Arrested After Purchasing Multiple Gift Cards From CVS

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“Mount Olive Township Police were called to the CVS location on Tuesday over ‘suspicious activity,’ according to a police report. A man later identified as 28-year-old Craig Nakonechny had ‘repeatedly’ entered and exited the store and ultimately purchased several gift cards.  This was somehow enough to trigger a call to the police (it’s not clear from whom) and a visit from Officer Anthony Gardner.”

Read more: https://reason.com/blog/2018/01/19/promoting-prostitution-charge-for-nj-man

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Unprecedented: Bank Of New York Freezes $23 Billion In Kazakh Assets

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“Now we wait for the next multi-billion asset freeze from some sovereign which not many will shed tears for… until one day, as the saying goes, they come to freeze your assets.”

Read more: https://www.zerohedge.com/news/2017-12-21/it%E2%80%99s-unprecedented-bank-new-york-freezes-23-billion-kazakh-assets

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Banks Like Capital One Are Enforcing Bans on Cryptocurrency Purchases

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“This isn’t the first time a national bank has taken such a strong and aggressive stance against digital currency. Last October, many customers of TD Bank experienced severe delays and blocks to their accounts while trying to purchase bitcoin on Coinbase.  PNC Bank has also begun taking measures against bitcoin by preventing customers from buying it directly through their bank accounts.”

Read more: https://bitsonline.com/banks-cryptocurrency-ban/

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Telegram plans multi-billion dollar ICO for chat cryptocurrency

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“Encrypted messaging startup Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and beyond.  With cryptocurrency powered payments inside Telegram, users could bypass remittance fees when sending funds across international borders, move sums of money privately thanks to the app’s encryption, deliver micropayments that would incur too high of credit card fees, and more.”

Read more: https://techcrunch.com/2018/01/08/telegram-open-network/

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Pakistan ditches dollar for yuan in trade with China after Trump tweet

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“A day after the U.S. leader slammed Islamabad for harboring terrorists in a New Year’s Day tweet, Pakistan’s central bank announced that it will be replacing the dollar with the yuan for bilateral trade and investment with Beijing.  With a steady stream of Chinese capital under its belt, Pakistan may no longer be receptive to American threats, the most recent of which involves Washington cutting off security assistance.”

Read more: https://www.cnbc.com/2018/01/03/pakistan-china-ties-strengthen-after-president-donald-trumps-rant.html

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IRS Tyranny Against Swiss Bankers Halted By Federal Juries

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“Stefan Buck isn’t the only Swiss banker who has been acquitted of this newly created crime by Swiss bankers of conspiracy to deprive the IRS of money. Federal juries also acquitted two other Swiss bankers, which undoubtedly has shaken the IRS and federal prosecutors who have dozens more prosecutions pending.”

Read more: https://www.fff.org/2018/01/08/irs-tyranny-swiss-bankers/

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Bitcoin Adoption Rate In Iran Surges Despite Censorship And Protests

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“The government has blocked popular messaging services like Telegram and Signal, in addition to several internet networks. Yet despite censorship and civil unrest, the Iranian bitcoin community is growing rapidly.  Iranian customers protested outside local branches in 2017, demanding deposits because they worry some of the country’s largest credit institutions are on the verge of collapse. Meanwhile, Iranians remain politically ostracized from most international businesses and financial institutions.  Part of the inspiration behind the Iranian revolution in 1979 was a belief that the Shah’s regime perpetuated economic inequality.”

Read more: http://www.ibtimes.com/bitcoin-adoption-rate-iran-surges-despite-censorship-protests-2636607

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Warning: Trump’s Federal Reserve Pick Hates Gold and Cash

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“Marvin Goodfriend thinks there should be a robust negative interest rate placed on cash.  For example, if there was a -10% interest rate on cash, your $10 bill would actually be worth only $9. It is basically a penalty for using cash.  The excuse is that this will stabilize the economy by keeping more capital in the banks. It means banks, and by extension, the Federal Reserve, have more control over your money.  The gold standard, Goodfriend argues, was also an encumbrance on monetary policy, ‘destabilizing’ prices.”

Read more: http://www.thedailybell.com/news-analysis/warning-trumps-federal-reserve-pick-hates-gold-and-cash/

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Enter the ‘petro’: Venezuela to launch oil-backed cryptocurrency

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“‘Venezuela will create a cryptocurrency,’ backed by oil, gas, gold and diamond reserves, Maduro said in his regular Sunday televised broadcast, a five-hour showcase of Christmas songs and dancing.  Ironically, Venezuela’s currency controls in recent years have spurred a bitcoin fad among tech-savvy Venezuelans looking to bypass controls to obtain dollars or make internet purchases.  Maduro’s government has a poor track record in monetary policy.  Currency controls and excessive money printing have led to a 57 percent depreciation of the bolivar against the dollar in the last month alone on the widely used black market.”

Read more: https://www.reuters.com/article/us-venezuela-economy/enter-the-petro-venezuela-to-launch-oil-backed-cryptocurrency-idUSKBN1DX0SQ

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