Tag Archives: Pot & Kettle

Texas Tells Company to Stop Investments Using Bitcoin

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“Texas regulators ordered an energy company to stop accepting Bitcoin for investments in oil and natural-gas wells, the first action of its kind by a state securities commissioner. Balanced Energy LLC, in the Dallas suburb of Southlake, was directed to stop selling unregistered securities using the digital currency, Texas Securities Commissioner John Morgan said yesterday in a statement.  The order reflects concern that investors using Bitcoin might not get their money back, said Bob Webster, a spokesman for the Washington-based North American Securities Administrators Association. Webster described the order as the first of its kind.”

http://www.bloomberg.com/news/2014-03-11/texas-company-told-to-stop-taking-bitcoin-in-first-state-order.html

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Kerry to Putin: ‘Don’t invade a country on completely phony pretexts’

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“‘You just don’t invade another country on phony pretext in order to assert your interests,’ John Kerry said on NBC’s Meet the Press. ‘This is an act of aggression that is completely trumped up in terms of its pretext. It’s really 19th century behaviour in the 21st century.’  Kerry has also threatened to isolate Russia economically and politically and warned of potential asset freezes and visa bans, adding to media and political hype that followed Russia authorization of sending a stabilization force in Crimea on official request from the authorities.  ‘There could be certainly disruption of any of the normal trade routine, there could be business drawback on investment in the country,’ he said.”

http://rt.com/news/kerry-russia-us-pretext-494/

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Gold Fix Study Shows Signs of Decade of Bank Manipulation

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“The London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say.  The paper is the first to raise the possibility that the five banks overseeing the century-old rate — Barclays Plc, Deutsche Bank AG (DBK), Bank of Nova Scotia (BNS), HSBC Holdings Plc (HSBA) and Societe Generale SA (GLE) — may have been actively working together to manipulate the benchmark. Authorities around the world, already investigating the manipulation of benchmarks from interest rates to foreign exchange, are examining the $20 trillion gold market for signs of wrongdoing.”

http://www.bloomberg.com/news/2014-02-28/gold-fix-study-shows-signs-of-decade-of-bank-manipulation.html

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McGruff, The Crime Dog, Sentenced To 16 Years For Pot, Weapons

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“The man who played the famous ‘Take a bite out of crime’ dog was arrested in 2011 after Galveston police and drug-sniffing dogs pulled over the McGruff actor for speeding, the Houston Chronicle reports. Authorities found diagrams of two indoor pot-growing operations sitting on the front seat, and multiple pot seeds stored in the trunk of his Infinity.  Police raided Morales’ home and found the multitude of marijuana plants, ammunition and weapons, which included a grenade launcher.  Morales insisted that he was nonviolent, but U.S. District Judge Vanessa Gilmore stated that, ‘Everything I read about you makes you seem like a scary person.'”

http://houston.cbslocal.com/2014/02/06/mcgruff-the-crime-dog-actor-sentenced-to-16-years-for-pot-grenade-launcher/

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Bitcoins cannot be used in Russia – Prosecutor General’s Office

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“The use of bitcoins and other cryptocurrencies carries the risk of violating citizens’ property rights and cannot be used in Russia, the country’s Prosecutor General’s Office concluded after meeting with the Central Bank, FSB, and Interior Ministry.  ‘Russia’s official currency is the ruble. The introduction of other types of currencies and the issue of money surrogates are banned,’ the statement says, meaning that cryptocurrencies – the most popular of which is bitcoin – cannot be used by Russian citizens or corporations.  Members of the meeting also outlined recommendations on how to prevent the use of virtual currencies.”

http://rt.com/business/bitcoin-russia-use-ban-942/

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Currency Market Unsettled by Trader Exits on Lawsky Probe

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“The foreign-exchange trading business was in upheaval across Wall Street as senior executives resigned and others were fired amid an expanding probe of possible currency manipulation.  Benjamin Lawsky, superintendent of New York’s Department of Financial Services, asked more than a dozen firms including Deutsche Bank AG (DB),Goldman Sachs Group Inc. (GS) and Citigroup Inc. (C) for documents on their currency-trading practices. Deutsche Bank, the top foreign-exchange trader, fired four dealers after an internal probe, people with knowledge of the move said. Goldman Sachs lost two partners while Citigroup said its foreign-exchange chief will leave in March.”

http://www.bloomberg.com/news/2014-02-05/currency-market-unsettled-by-trader-exits-as-lawsky-opens-probe.html

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Bitcoin `Ponzi’ Concern Sparks Warning From Estonia Central Bank

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“The central bank of Estonia, where Swedish banks dominate the lending market, urged consumers to steer clear of Bitcoin, warning that the software and others like it could prove to be little more than a ‘Ponzi scheme.’  Bitcoin ‘is a problematic scheme,’ Mihkel Nommela, head of the Estonian central bank’s payment and settlement systems department, said in an e-mailed reply to questions. ‘All risks are assumed by the user, who has no one to turn to for help.’  Regulators and banks are escalating warnings against Bitcoin, and other digital currencies, amid concern such software lends itself to financial crime.”

http://www.businessweek.com/news/2014-01-30/bitcoin-ponzi-scheme-worry-sparks-estonia-central-bank-caution

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Bank of England Governor on Bitcoin: It needs ‘accountability’

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“The governor of the Bank of England talks to Jeremy Paxman about his plans for interests rates, and what’s next for forward guidance. They also discuss Ed Miliband’s banking strategy and Bitcoin.”

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Jamie Dimon is not a Bitcoin fan despite JPMorgan filing similar patent

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“JPMorgan chief executive Jamie Dimon is not a fan of Bitcoin because ‘a lot of it is being used for illicit purposes’. Speaking at the World Economic Forum in Davos, the Wall Street supremo said the virtual currency is a ‘terrible store of money’ and questioned its legal status over allegations that it is used to fund illegal activities. ‘It doesn’t have the standing of a government,’ Dimon told CNBC.  Dimon, 57, also warned that Bitcoin faces major regulatory hurdles going forward and drew an interesting comparison between the banking industry and the virtual currency.”

http://www.independent.co.uk/news/business/news/jamie-dimon-is-not-a-bitcoin-fan-despite-jpmorgan-filing-patent-for-online-payment-system-9081120.html

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JPMorgan Chase CEO denounces bitcoin as ‘terrible,’ predicts its downfall

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“The head of the largest bank in the US said Thursday that bitcoin is a ‘terrible store of value,’ in part because international governments, bankers, and other officials are unsure whether they can trust the digital currency.  Jamie Dimon, the CEO of JP Morgan Chase – which has $2.509 trillion in total assets – told CNBC that the cryptocurrency does not have much staying power because the hurdles it faces are insurmountable.  ‘It’s a terrible store of value. It could be replicated over and over,’ he said. ‘It doesn’t have the standing of a government.’  Dimon went on to cite media coverage that reported on the use of bitcoin for nefarious purposes.”

http://rt.com/usa/chase-ceo-bitcoin-terrible-downfall-100/

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