PayPal’s President is “Fascinated” by Bitcoin

Really interesting video interview here by Bloomberg News with PayPal’s President David Marcus.  When asked about Bitcoin, Marcus states that he is “spending a lot of time looking at it” and calls it “truly fascinating.”  Interesting, because 95% of Twitter and mainstream financial “journalists” are entirely convinced it is a bubble and a scam.  Oh, … Read more

Mayor Bloomberg Wants to “Reinterpret the Constitution” After Boston Bombings

“The people who are worried about privacy have a legitimate worry,” Mr. Bloomberg said during a press conference in Midtown. “But we live in a complex word where you’re going to have to have a level of security greater than you did back in the olden days, if you will. And our laws and our interpretation of the Constitution, I think, have to change.”

“Look, we live in a very dangerous world. We know there are people who want to take away our freedoms. New Yorkers probably know that as much if not more than anybody else after the terrible tragedy of 9/11,” he said.

From the quotes above it has become quite clear that NYC Mayor Michael Bloomberg is just playing his typical role in the aftermath of a national tragedy.  That is to immediately manipulate it to justify his civil liberties snatching agenda and “sell the population” on implementing a total police state like the one he is eagerly putting in place in NYC.  He says “we live in a very dangerous world.”  Ok…well the world has always been very dangerous, so thanks for the tip.  However, the worst part is that he states “there are people who want to take away our freedoms.”  So I guess the answer to that is to let Bloomberg take them away before the “terrorists” have a chance to.  What a total authoritarian this guy is.  He is doing exactly the opposite of what security expert Bruce Schneier implored us to do in the wake of Boston.

The best writeup of this story I have seen is by Tim Cushing of Tech Dirt.  Below are some excerpts:

Good news, everyone. The terrorists will win and New York City Mayor Michael Bloomberg wants to help. Of course, his speech is all about not letting the terrorists win. But he’s giving them exactly what they want.

But Bloomberg sees something else, something much more malignant than more cameras and fewer immigrants. He sees this attack as an indication that our country has outgrown its founding principles and that we can’t be truly “safe” without altering the fabric of the nation.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

McDonald’s Hamburger Looks the Same…14 Years After Purchase!

I’ve heard rumors about this before, but figured it was just an urban legend.  Apparently not!  So Utah resident, David Whipple, originally decided he wanted to save a McDonald’s burger for a couple of months to see what would happen.  It didn’t decompose at all. Then he forgot about it in a coat pocket for a year or so until his wife accidentally found it.  Still no change.  So he decided to save it even longer.  Now, 14 years later, he has informed the world that amazingly it still looks the same.  From the Daily Mail:

A Utah man has unearthed a McDonald’s hamburger he bought in 1999 – and the sandwich looks exactly the same as the day it was first flipped.

David Whipple kept the fast food meal for a month to show friends how the preservative-packed hamburger would keep its composure.

‘My wife didn’t discover it until at least a year or two after that,’ he said. ‘And we pulled it out and said “oh my gosh. I can’t believe it looks the same way.”‘

However, even he was shocked to see that the hamburger still looks the same a whopping 14 years later.

The burger had no signs of mold, fungus or even a strange odor, the show’s hosts said. The only thing that had changed over the years was that the pickle had disintegrated.

McDonalds

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Highlights from the Incredible 2011 Interview of Wikileaks’ Julian Assange by Google’s Eric Schmidt

Ever wonder what would happen if Wikileaks’ Julian Assange sat down for a five hour chat with Google’s Eric Schmidt?  Well, wonder no more!  Yesterday, I decided to read through the entire transcript of their secret meeting and it was worth every minute.  While the interview took place back on June 23, 2011 at the rural house where Assange was staying at the time, it was only released this past Friday.  The topics discussed were incredibly wide ranging including the future of journalism, how Bitcoin is changing the monetary system (kind of interesting how Schmidt had no idea what Bitcoin was, or at least claimed ignorance), teaching nuclear synthesis through interpretive dance, and how humans are tricked into war.  I found his most profound observation expressed in one simple statement: 

I think that the instincts human beings have are actually much better than the societies that we have.

I totally agree with this assessment and I wrote about it last year in my piece Humanity is Rising.

Despite mainstream media demonization, what this transcript proves to me is just what a thoughtful, brilliant and deep individual Julian Assange is.  History will look very kindly upon him and very unkindly upon his oppressors.

*Note:  All of the passages below are Julian Assange’s words.  Where helpful I provide context about the topic is he addressing.  Enjoy!

It’s mostly self censorship. In fact I would say it’s probably the most significant one, historically, has been economic censorship. Where it is simply not profitable to publish something. There is no market for it. That is I describe as a censorship pyramid. It’s quite interesting. So, on the top of the pyramid there are the murders of journalists and publishers. And the next level there is political attacks on journalists and publishers. So you think, what is a legal attack? A legal attack is simply a delayed use of coercive force.
 
Which doesn’t necessarily result in murder but may result in incarceration or asset seizure. So the next level down, and remember the volume… the area of the pyramid…. volume of the pyramid! The volume of the pyramid increases significantly as you go down from the peak. And in this example that means that the number of acts of censorship also increases as you go down. So there are very few people who are murdered, there are a few people who suffer legal… there is a few number of public legal attacks on individuals and corporations, and then at the next level there is a tremendous amount of self censorship, and this self censorship occurs in part because people don’t want to move up into the upper parts of the pyramid. They don’t want to come to legal attacks or uses of coercive force. But they also don’t want to be killed.
 

I think that is an inevitable and very important way forward, and where this… where I saw that this was a problem was dealing with a man by the name of Nahdmi Auchi. A few years ago was listed by one of the big business magazines in the UK as the fifth richest man in the UK. In 1980 left Iraq. He’d grown rich under Saddam Hussein’s oil industry. And is alleged by the Italian press to be involved in a load of arms trading there, he has over two hundred companies run out of his Luxembourg holding unit. And several that we discovered in Panama. He had infiltrated the British Labour political establishment to the degree that the 20th business birthday in London he was given a painting signed by 146 members Commons including Tony Blair. He’s the same guy who was the principal financier of Tony Rezko. Tony Rezko was the financier and fundraiser of Rod Blagoyevich, from Chicago. Convicted of corruption. Tony Rezko has been convicted of corruption. And Barack Obama. He was the intermediary who helped Barack Obama buy one of his houses and then the money not directly for the house but it bouyed up Tony Rezko’s finances came from that… [indistinct]. So during the – this is detail, but it will get to a point. During the 2008 presidential primaries a lot of attention was turned to Barack Obama by the US press, unsurprisingly. And so it started to look into his fundraisers, and discovered Tony Rezko, and then they just started to turn their eyes towards Nadhmi Auchi. Auchi then hired Carter Ruck, a rather notorious firm of London libel solicitors, whose founder, Carter Ruck, has been described as doing for freedom of speech what the Boston strangler did for door to door salesmen.

And he started writing letters to all of the London papers who had records of his 2003 extradition to France and conviction for corruption in France over the Elf-Acquitaine scandal. Where he had been involved in taking kickbacks on selling the invaded Kuwaiti governments’ oil refineries in order to fund their operations while Iraq had occupied it. So the Guardian pulled three articles from 2003. So they were five years old. They had been in the Guardian’s archive for 5 years. Without saying anything. If you go to those URLs you will not see “removed due to legal threats.” You will see “page not found.” And one from the Telegraph. And a bunch from some American publications. And bloggers, and so on. Important bits of history, recent history, that were relevant to an ongoing presidential campaign in the United States were pulled out of the intellectual record. They were also pulled out of the Guardian’s index of articles. So why? The Guardian’s published in print, and you can go to the library and look up those articles. They are still there in the library. How would you know that they were there in the library? To look up, because they are not there in the Guardian’s index. Not only have they ceased to exist, they have ceased to have ever existed. Which is the modern implementation of Orwell’s dictum that he controls the present controls the past and he who controls the past controls the future. Because the past is stored physically in the present. All records of the past. This issue of preserving politically salient intellectual content while it is under attack is central to what WikiLeaks does — because that is what we are after! We are after those bits that people are trying to suppress, because we suspect, usually rightly, that they’re expending economic work on suppressing those bits because they perceive that they are going to induce some change.

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Professor Fekete on the Gold Smash: “Who Said the Hydra Would Take it Lying Down”

Ostensibly a lower gold price would solve the problem Bernanke has. Demoralized gold bugs would be forced out of their holdings through margin calls. Disillusioned investors would shun gold. This would make physical gold available to rescue the strapped gold futures market.

In fact, however, a lower gold price is making the problem more intractable, not less. The Fed is diving from the frying pan into the fire. This is the point missed by almost all observers and market analysts. They ignore the underlying flight into physical gold that continues unabated, in spite of (or, better still, because of) the panic in the paper gold market. The Fed’s intervention in bankrolling short interest is going to back-fire, for the following simple reason. The Fed’s strategy is inherently contradictory. A lower price for paper gold makes it easier, not harder, to demand delivery on maturing futures contracts.

– Professor Antal E. Fekete

Of all the articles I have read since the attack on the precious metals markets, this piece by Professor Fekete is the best one yet. I completely agree that this was an extremely desperate and brazen attempt by the Central Planners, one that is quite clearly backfiring big time.  My favorite excerpts are below:

In waking up too late that there was a problem after gold futures markets have been flirting with backwardation for a year or so, officialdom was forced to act. Act it did in a typically haphazard fashion. A few days ago, on April 12 and 15 the paper gold market was demoralized by a ferocious attack on the lofty gold price. This in and of itself is proof that Bernanke is fully aware that permanent gold backwardation is imminent, and that it will create and unmanageable situation. It’s got to be stopped in its track at all hazards.

Well, well, well. Gold is not the same as frozen pork bellies after all. The Hydra is not taking it lying down. The kid gloves have finally come off.

Bernanke is trying to stop gold backwardation by selling unlimited amount of gold futures contracts through his stooges, the bullion banks. He is underwriting losses they are certain to suffer in due course. We can take it for granted that they haven’t got the gold to make delivery on their contracts. In fact, delivery of gold will be suspended under the force majeure clause. Short positions will have to be settled in cash, to be made available by the Fed’s printing presses. Gold futures trading will be a thing of the past.

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Chinese Gold & Silver Exchange Society Runs Out of Gold…Importing from Switzerland and London

Hong Kong’s Chinese Gold & Silver Exchange Society has been in operations for over a century, and its President Haywood Cheung was interviewed by Bloomberg news earlier today.  Whoever orchestrated the attack on gold and silver in the last week or so has gravely miscalculated, since the response to the drop has been surging demand for physical … Read more

How Hospitals Profit from Making Mistakes

One of the many things holding the nation back at the moment is the complete lack of incentive to be a creative, productive and honest member of society versus the tremendous incentive to be a corrupt, thieving, lackey for the establishment.  In a free market system, with a strict set of rules governing the game that is applied to everyone equally, market signals and incentives exist for companies to create a great product and to meet customer needs with great service.  In contrast, within a crony capitalist system, the primary incentive is to get as close as possible to political and corporate power in order to financially benefit from their oligarchical ownership of the controlled economy.

It is only within a completely disconnected from reality, crony, fraudulent economy where you could have a situation in which hospitals actually earn much larger profit margins from making mistakes and harming their patients, than from providing excellent care.  We learn from the New York Times that:

Hospitals make money from their own mistakes because insurers pay them for the longer stays and extra care that patients need to treat surgical complications that could have been prevented, a new study finds.

Changing the payment system, to stop rewarding poor care, may help to bring down surgical complication rates, the researchers say. If the system does not change, hospitals have little incentive to improve: in fact, some will wind up losing money if they take better care of patients.

The study and an editorial were published Tuesday in The Journal of the American Medical Association. The study authors are from the Boston Consulting Group, Harvard’s schools of medicine and public health, and Texas Health Resources, a large nonprofit hospital system.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Ring the Bell for Manhattan Real Estate: Calpers Buys the Top Again

The dumbest of the dumb money has finally decided now is the time to buy Manhattan apartments.  The California Public Employees’ Retirement System (colloquially known as Calpers) just loves taking assets off of other people’s hands at the top.  Let’s not forget the 10,200-acre desert site in Arizona they bought for $400 million in 2006, which … Read more

Jeep Dealer in Kansas Now Accepts Bitcoin

Norman Vialle is leading the way as far as merchants beginning to accept Bitcoin for big ticket items.  The owner of Overland Park Jeep Dodge Ram Chrysler in Kansas City has become the first car dealer in the United States to accept Bitcoin.  Despite the recent price volatility, stories of more mainstream adoption continue to come in at a rapid clip.  From a New York property developer’s decision to accept them as rent payment, to popular online dating site OK Cupid announcing acceptance.  Now we can add car dealerships to the list.  From the Wall Street Journal:

Norman Vialle, a 53-year-old car dealer in Kansas, invested in his share of winners and losers during the Internet bubble of the 1990s. Now he is clinging to a stash of Bitcoin, even though the fledgling virtual currency has lost about 70% of its value in the past week.

“It’s volatile because it’s new, but it’s still a lot higher than it was a month ago,” Mr. Vialle says.

In addition to investing in the currency, Mr. Vialle recently began accepting bitcoins for payment at Overland Park Jeep Dodge Ram Chrysler. One of his customers is planning to pay for a $40,000 Jeep with the currency next month.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.

Fraud Alert: FDA Allowed Drugs with Fraudulent Testing to Remain on the Market

I’ve said it before and I’ll say it again. Essentially the entire U.S. economy is one gigantic fraud.  No one has honor anymore in this society, it is a totally forgotten and discarded virtue.  The ethos of the land is to take whatever you can however you can.  It doesn’t matter who you hurt or what sorts of immoral acts you need to do to get it.  One of the key dynamics that allows for such blatant theft is that the regulatory agencies that are supposed to protect us are in fact gatekeepers from the criminals in their respective industries.  In the financial area, this manifests with the SEC and CFTC revolving door to Wall Street.  In healthcare, it manifests with the FDA.  I’ve highlighted the FDA’s shadiness previously, most notably in my piece:  The FDA is Caught Spying on its Employees and Creating an “Enemies List.”  Now in this latest story, we find how little the FDA concerns itself with public health.  From Pro Publica:

On the morning of May 3, 2010, three agents of the Food and Drug Administration descended upon the Houston office of Cetero Research, a firm that conducted research for drug companies worldwide.

Lead agent Patrick Stone, now retired from the FDA, had visited the Houston lab many times over the previous decade for routine inspections. This time was different. His team was there to investigate a former employee’s allegation that the company had tampered with records and manipulated test data.

When Stone explained the gravity of the inquiry to Chinna Pamidi, the testing facility’s president, the Cetero executive made a brief phone call. Moments later, employees rolled in eight flatbed carts, each double-stacked with file boxes. The documents represented five years of data from some 1,400 drug trials.

Read more

Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G


Follow me on Twitter.