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.
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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.
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Tagged with: greece
We discuss the significance of Teotihuacan to the modern era of semi-divine elite hoarding wealth during a time of financial crop failures and lending droughts. In the second half, Max interviews media, retail and banking tycoon, Ricardo Salinas Pliego about ending prohibition, a buffet of ideas at the Festival of Ideas and the news business mantra of “if it bleeds, it leads” leading to the bad PR of Mexico. Finally, Max puts him in the ‘shark tank’ to pitch Mexico to China which has $250 billion to spend in the region.
Originally appeared at Bitcoinomics.Net
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This is an interview conducted by Bitcoinomics.Net with Jeff Berwick.
When did you first hear of Bitcoin and what did you think about it?
JB: I first heard about it in early 2011 from a Dollar Vigilante subscriber, Jeremy Bernal. I posted an interview with him here in May 2011. I met Jeremy at Doug Casey’s La Estancia de Cafayate in Argentina over a glass of torontes near a fireplace and was very interested as I had never heard of it before. I began to follow it near $3 and after interviewing him I then went on to talk more with another person I met in Cafayate, Trace Mayer in 2012. Read more ›