Press Freedom 2014

Why is Maxcoin superior over gold?

Maxcoin and gold have a lot of similarities:

  • the amount of gold is limited, just like the amount of maxcoins;
  • Maxcoins have to be mined, gold has to be mined;
  • and they are both valuable.

Gold is great but has a lot of disadvantages. Thats why Maxcoin is superior over gold for three simple reasons >>>

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Why Peter Schiff beats Thom Hartmann every single time

Just saw this tweet from Peter Schiff and watched the interview he did with Thom Harman. And once again, Thom was unable to meaningfully engage Peter in a debate about dangerously high wealth concentration in the U.S. The question is why? I think the answer is pretty simple. Thom needs to expand his finance debating tool box by one tool; monetary policy. (By the way, there are only really 2 levers that control the economy: fiscal and monetary). At the moment, Thom only talks about fiscal policy (i.e., tax policy) and how by raising taxes – we will restore economic balance.

But – - Tax rates are not the problem. Interest rates are the problem. They are way too low, enabling wealth to be passively transferred from savers and workers to America’s rentier class with zero risk. So why doesn’t Thom use this argument?

To restore economic balance you need to raise interest rates (like was done in early 1980′s). I suspect the reason Thom doesn’t mention this is because the resultant pain would be borne across all classes, including the middle class and poor, and Thom would prefer something that just pinpoints rich people. But that’s a financial impossibility and banging on about it doesn’t change this fact.

Fact is Thom, tax rates are not what caused America’s economy to spawn the greatest wealth and income gap in its history. Chasing “deflation” with artificially low, reckless interest rates caused the problem. So the expedient answer is to reverse course and raise rates.

Ironically, Schiff also wants to raise interest rates (i.e., allow rates to trade freely at a ‘market rate’), but not to restore the wealth balance in America. Peter wants to raise rates to pop the current bubble in stocks and real estate to avoid the inevitable crash that is coming anyway since the Fed won’t proactively raise rates now to mitigate the disastrous fallout of the coming crash.

It’s ‘Ok’ if Thom and Peter want the same thing but for different reasons. Peter knows this, but he’ll never say anything because why should he? Thom on the other hand could switch from the tax argument to the monetary policy argument in a heartbeat and at least fight Schiff in these encounters to a draw instead of always losing.

 

Huge event just happened in US history, unnoticed

Bitcoin’s Prospects are Mind Bending: Juan Llanos

I Have Bitcoins Bitcoins Prospects are Mind Bending Juan Llanos

Born in Argentina which was one of the richest countries in the 20th century, Juan Llanos has witnessed a dramatic downturn in the country’s financial fortunes as hyperinflation hit 12,000% in 1989…. Read More >>>

USA vs Iran: Military Spending

“How dare they spend even one dang cent!”

Why a Berlin girl went into a US mental home, got addicted to heroin, became a London hooker

“He was involved with brothels; he took you to one, asked you if you wanted to work there and you said Yes.” - “I had really big money problems.”. - Read my latest daily blog here

• SO IT GOES – John Fleming’s Blog

It’s Time to Retire Gross Domestic Product (GDP) as a Measure of Prosperity

What if we used wellness (Gross Domestic Happiness) as a metric for prosperity rather than GDP?

Distilling an economy’s success in delivering “prosperity” to a single number has outlived its purpose. Zachary Karabell describes the birth of GDP in far less complex times in (Mis)leading Indicators: Why Our Economic Numbers Distort Reality (Foreign Affairs):

Read more ›

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Why people sell maxcoins and bitcoins?

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Crosstalk: Mitch Feierstein – Discussing economic mess in Ukraine

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