American consumers are feeling practically euphoric. The Conference Board index jumped to the highest level since August 2007, just before the whole construct came apart. Not that reality has suddenly improved that much, or at all, but hey. This exuberance comes just as our largest corporate citizens, so to speak, were hit by a tornado of problems – because financial engineering can only accomplish so much.
Read… Hounded by Evil Dollar & Collapsed Commodity Prices, Corporate America Clamors for Total Currency War
Cyber Attacks Growing In Frequency – Entire Western Financial System Is Vulnerable
The threat posed by cyber war to our increasingly complicated, technologically dependent and vulnerable financial institutions, markets, banks and indeed deposits becomes more clear by the day.
In the Bitcoin network, there is never an unpaid debt. Why exactly? In accrual accounting you have debits for now and credits for the past, but in triple-entry accounting you have prebits for the future. The only on-ramp to the bitcoin network is bitcoins and the only way to access bitcoins is to pay for them in advance.
“You always have the ability to tell the truth, but you don’t always have the ability to pay someone a debt.”
The spectrum of possibilities from token dependent to blockchain agnostic to Bitcoin maximalist is bringing the blockchain protocol to people who have never considered the implications of not being able to rollback their credibility like the Swiss National Bank backed over the FX markets. Whether you’re talking proof of stake or proof of work, according to Ben Franklin beer was proof enough.
I didn’t provide this list to say whether these people are good or bad. I provide it, because whenever 80 people own as much as the poorest 50% of the globe, we sure better know who they are. We should also be cognizant of the disproportionate influence any of them can have on public affairs should they want to.
Read more here.
Once one oligarchy falls, it will threaten to topple a long line of oligarch dominoes.
A great many narratives invoking Greece are being tossed around, but only one really encapsulates the unvarnished truth: the Oligarchs blew it. The oligarchs in both Greece and the European Union/ECB had the opportunity a few years ago to trade some of their outsized wealth and political power for stability and sustainable expansion.
Instead, they chose to not just cling to every shred of their outsized wealth and power but to actively increase it. Their greed and hubris has now put their entire system of parasitic wealth extraction at risk of collapse. Their political stranglehold on power has been weakened, and there’s no going back: they blew it, and now it’s too late. The debt-serfs have finally had enough.
Tagged with: greece
So the other day, President Barack Obama once again demonstrated his contempt for the American public by using his State of the Union address to pejoratively blurt out meaningless phrases such as“but tonight, we turn the page” and: “The verdict is clear. Middle-class economics works. Expanding opportunity works. And these policies will continue to work, as long as politics don’t get in the way.”
Sorry, but why are “we turning the page” tonight? Weren’t you elected over six years ago? Why didn’t you turn the page in 2009?
Meanwhile, I’m astounded by the phrase “middle-class economics works.” Perhaps it does, but how would anyone know? The only thing I’ve seen from his administration is a laser focused determination to consolidate all American wealth and power into the hands of a tiny group of oligarchs and their lapdogs…
Read more here.