Greek Lesson: Your Money is Not Yours

July 2nd, 2015 No comments

Watching the Greek crisis unfold is a wake-up call for everybody. When a government can close the banks and limit your access to your own money, then it really isn’t your own money, as it’s not under your control.

All this is going to end badly, and not just for Greece and the Greeks. Systemic unrepayable debt is the situation in all the major Western economies, and it’s only a matter of time before other governments are faced with the same problems.

What’s waiting in the wings of course (especially after what happened in Cyprus previously) is the notion of the bank “bail-in”. In other words, when a financial crisis hits your country, you’ll be tapped on the shoulder and your bank balance will receive a financial “haircut”.

The only conclusion one can reach is that if the money you have in the bank can be “locked” away so you can’t get it, or even worse, can be siphoned off to pay off government debts,  then that money is not really yours at all.

What’s the solution?

Personally I believe it’s Bitcoin. Bitcoin represents a breakthrough in the idea of money. Instead of money being something central banks (with monopolies granted by governments) can create out of thin air and issue as debt, Bitcoin is money created outside the rotten financial system.

You could even call it “people’s money” because it arises and is managed without any central authority, without any company, without any bank and without any government.

My advice, given what we see happening in Greece, would be to get up to speed with Bitcoin now.

A good place to start is to download my free report:

Bitcoin: The Money Revolution

Don’t say you weren’t warned!

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Ulterior States

June 29th, 2015 No comments

If you want a deeper understanding of Bitcoin and Blockchain, and what it represents, then this video is worth 52 minutes of your time:

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Russell Brand on Silk Road and Ross Ulbricht

June 3rd, 2015 1 comment

This short video is well worth a watch, as it nails the issue pretty well…

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Bitcoin: The End of Money As We Know It

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The Promise of Digital Gold

April 29th, 2015 1 comment

Way back in 1999/2000 I was a big fan of e-gold – a system where one could transact online in gold rather than fiat currency. It worked really well, until the US government closed it down on the charge of aiding and abetting money laundering.

What made e-gold so revolutionary was the idea that you could transfer the value of gold over the internet.

Meanwhile, gold itself has been in the doldrums, losing value over the past few years. And while gold no doubt has historical significance as money, in the modern world it’s not possible to buy anything or pay for stuff with the shiny metal. So gold remains primarily a “store of value”.

Trouble is, getting in and out of the gold market is costly, due to the spread between the buy and sell price. So it’s not something easily traded for profit.

With the advent of Bitcoin and its underlying blockchain technology, a whole new opportunity has opened up for gold – enabling it to be purchased and stored in digital form once again, using it as money even.

Once such new service is BitGold, currently in beta release, which promises to bring gold ownership into the blockchain era. With BitGold you can purchase gold with Bitcoin, wire transfer and even credit/debit card. You can then move it between account holders at no cost, sell it and take delivery of physical gold, or spend it by loading an associated Visa debit card. And all the while your gold is stored in your name at respected vaults in different jurisdictions.

There are two other services which also enable the digital holding of gold, although they work a bit differently than BitGold. They are Vaulttoro – a real time trading exchange for gold and Bitcoin, and BitReserve - a service that enables you to hold different assets (including gold) in digital form.

All in all, it sounds like an interesting development, offering a new way of dealing with the world’s oldest most trusted money – gold.

 

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A New Country is Born

April 18th, 2015 No comments

The world’s third-smallest country has been born – Liberland – larger than both the Vatican and Monaco. Not sure if it will survive, but it continues a tradition of those seeking to create a new political space – as an alternative to warmongering nations controlled by sociopaths.

I wish them well!

Welcome to Liberland, Where Taxes Are Optional And There is No Military

 

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The End of The House of Saud?

April 13th, 2015 No comments

It always amazes me that here in the West (led by the USA) we somehow think that Saudi Arabia is an ally. And yet the evidence is overwhelming that they and their Salafist ideology are the lynchpin of everything going wrong in the Middle East – including Al-Qaeda and Islamic State. And for some inexplicable reason Iran is demonised for being all the things Saudi Arabia is – including being sponsors of terrorism.

With the Saudi (and US supported) war in Yemen we are witnessing one more gross hypocrisy on the part of the West – an attempt to re-install a fled leader of a failed state. And it’s interesting to compare this with when Ukraine’s elected leader fled in defeat, the US were not interested in re-installing him, but instead immediately endorsed the new regime. Not so in Yemen.

Why? Because Yemen represents a challenge to Saudi Arabia, who keep harping on about Iranian “aggression” in the region, when in fact it is they who are clearly the aggressors – with their ongoing bombing of the country and its hapless inhabitants.

The US has even gone so far as to block any cease-fire and move to negotiations, standing steadfastly by their criminal Saudi allies.

One thing all this disturbance in the Middle East is doing is to bring some clarity. We can no longer imagine that Islamic State represents all Islam. When we watch Iraq and Iran (not to mention Yemenis) fighting these Salafist-inspired terrorist groups, it’s clear a split is emerging between Sunni and Shia – and for my money we should be on the Shia side.

One person I have found worth listening to, if only to get a different view from the “inside”, is Hassan Nasrallah, leader of Hezbollah. Yeah, sure the Israelis call them “terrorists” (along with Iran for supporting them), but in my view they are nothing more than freedom fighters. Anyway, Nasrallah has some interesting things to say in the video shown here – including why he believes Yemen could be the catalyst that brings down the House of Saud. And if that happens, all hell will break loose in the Middle East.

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The Real Reasons They Hate Iran

April 12th, 2015 No comments

The deal emerging (or not) between Iran and the group of nations headed by the USA is not really about trying to stop Nuclear weapons, but a belated attempt to face the reality that Iran has not “bent the knee” before the global elites.

Eric Margolis, a long-time foreign correspondent, writes an interesting piece that lays out the real reasons for the West’s hostility to Iran.

Keep The Iranian Genie Bottle Up!

 

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Gavin Andreson On Bitcoin

April 11th, 2015 No comments

A very interesting and easy-to-understand commentary on Bitcoin by Gavin Andreson - Chief Scientist at the Bitcoin Foundation.

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The Relentless March East

March 25th, 2015 No comments

I was only 9 years old or so when my father told me that China would one day wake up, that it was a sleeping giant. Well it appears he was right. Since the mid-80s, when my interest in China was piqued by what Deng Xiaoping was up to in China, I have seen mounting evidence of China’s rise to global significance. And it’s not finished yet.

This drive by China to once again become a civilisation that matter, is driving the shift “East” that we are witnessing today. The western countries, mired in debt and welfare economies, are simply unable to compete with China’s “lean mean” approach to business.

I’ve spent a lot of time in China and can attest to the spirit of entrepreneurship that exists there, untrammelled by excessive regulation or high taxes. Being in that country and witnessing the energy and momentum that is so apparent, feels a bit like I imagine being in the “wild west” felt – pure adrenaline and opportunity.

However, we are being given mixed messages about China. We are constantly being told (especially by US sources) it’s about to implode, that it represents a “future danger”, and that it needs to be contained.

Well, that ain’t happening, as this insightful essay by Pepe Escobar reveals:

Westward Ho on China’s Eurasia BRIC Road

 

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