- Regulators in the US, Europe and Asia who’ve sought to crack down on bitcoin – many of these regulators are also proponents of a “cashless society” – have been dealt a stunning setback by an unlikely defender of the pioneering digital currency: The US Department of Homeland Security.
- To wit, one anonymous DHS source told CNBC that bitcoin has become “a lot more legitimate” than many believe.
- “We’re getting a lot better through law enforcement tracking those [criminals] and holding the exchanges more accountable,”
Read more at:Cyber-Criminals Abandon Bitcoin; Homeland Admits “It’s A Lot More Legitimate Than People Think”
- That’s the problem with fragility: everything looks fine on the surface until a crisis applies pressure. Then the whole rickety contraption collapses in a heap..
- Uncertainty is one thing, fragility is another. The socio-economic systems we rely on are also becoming increasingly fragile and prone to failure, for an entirely different set of reasons than those driving uncertainty.
- Life is inherently uncertain, but systems that were once considered certainties have increasingly become uncertain. Social Security is one example; recent polls reflect widespread doubts among Millennials and Gen-Xers that there will be any Social Security benefits left for them by the time they reach retirement age.
Read more at:Systemic Uncertainty, Meet Fragility
- You don’t need an army to achieve World Domination; all you need is enough cheap credit to buy up everything that generates the highest value and/or income.
- 1. Turn everything into a commodity that can be traded on the global market:land, leases on land, options to purchase land, houses, buildings, rooms in slums, labor, tools, robots, water, water rights, mineral rights, rights to air routes, ships, aircraft, political power, shares in corporations,
- government bonds, municipal bonds, corporate bonds, student loans that have been bundled into debt-based instruments, the income from city parking meters, electricity, software, advertising, marketing, media, social media, food, energy, insurance, gold, metals, credit, interest-rate swaps and last but not least, financial instruments that control and/or pyramid all the real-world goods and assets that have been commoditized
Read more at:The 5 Steps to World Domination
- “Absolute power corrupts absolutely, and the power of the media to publish in this country is nearly absolute.”
- A series of 1984 memos from the CIA Inspector General’s (IG) office reveals some alarming views on the press and how to deal with them. Among other things, the memo shows that 33 years before the Agency declared WikiLeaks a hostile non-state intelligence service, they were viewing the general press in the same terms.
- Several weeks prior, CIA Director Casey had asked the IG to weigh in on officer Eloise Page’s paper on unauthorized disclosure. The IG passed the task onto someone on his staff, who produced a four page SECRET memo for IG James Taylor, who passed it onto Director Casey.
Read more at:Internal CIA Memos Expose Media As Agency’s “Principal Villains”, Urges “Intervention In Journalism Schools”
- Many of those about to be vaporized did not grasp the fragility of the “prosperity” they assumed was both solid and permanent.
- Business-cycle recessions are not just inevitable, they are necessary to flush bad debt and marginal investments/projects from the system.
The dynamic that’s about to play out is simple: wages for the bottom 95% have gone nowhere for 17 years, while costs have soared far above official inflation for everyone exposed to real-world costs.The next recession–which I suggested yesterday has just begun–will be more than a business-cycle downturn; it will be a devastating meteor storm that destroys huge chunks of the economy while leaving other sectors virtually untouched.
Read more at:Next Stop, Recession: The Financial Meteor Storm Is Headed Our Way
- The signs are everywhere for those willing to look: something has changed beneath the surface of complacent faith in permanent growth.
- This is more intuitive than quantitative, but my gut feeling is that the economy just stumbled off a cliff. Neither the cliff edge nor the fatal misstep are visible yet; both remain in the shadows of the intangible foundation of the economy: trust, animal spirits, faith in authorities’ management, etc.
- Since credit expansion is the lifeblood of the global economy, let’s look at credit expansion. Courtesy of Market Daily Briefing, here is a chart of total credit in the U.S. and a chart of the percentage increase of credit.
- Notice the difference between credit expansion in 1990 – 2008 and the expansion of 2009 –
Read more at:Did the Economy Just Stumble Off a Cliff?
- We’ve been saying this a lot lately, but just when you thought the political climate in this country couldn’t get any more wacky ESPN has to go and pull an Asian-American announcer, who just happens to be named Robert Lee, off the William and Mary vs. University of Virginia college football game because of concerns they might create a mass-triggering of America’s snowflakes.
- Is this even real life anymore? So the fragile millennial culture now demands that you should be thrown in jail if you call them by the wrong pronoun but it’s totally fine if their insecurities literally derail a person’s career because they refuse to be ‘assaulted’ by the name his parents happened to give him?
Read more at:ESPN Pulls Asian Announcer Named Robert Lee To Avoid A Mass Triggering Event