Month: October 2014

Will Bitcoin Be Treated Like Online Piracy?

Banks are aware of Bitcoin. One CEO doesn’t think it is long for this world.

Bitcoin developers “are going to try and eat our lunch,” Jamie Dimon, chairman and CEO of JPMorgan Chase said last week. “And that’s fine. That’s called competition, and we’ll be competing.”

Dimon sees the point in Bitcoin.  But there are some problems he sees on the horizon.

“I agree with real-time digitization,” Dimon agreed. “The issue I have with Bitcoin is that it’s not about the technology, it’s about governments. When people form nations, one of the first things they do is form a currency. Are regulators and governments really going to foster Bitcoin over a long period of time? I think the answer is no.Read More

$251 Million Tomahawk Missile Contract Will Require Silver

Raytheon Co. received a $251 million contract from the US Navy to make Tomahawk Block IV tactical cruise missiles for fiscal year 2014 with an option for 2015, which, according to some, means a lot of silver will soon be needed.

Although much of the discussion surrounding the true composition of the Tomahawk missile is speculative, a boisterous group claims that 480 ounces of silver (16kg) is needed per cruise missile.

Raytheon will build and deliver Tomahawk Block IV cruise missiles to the US Navy and the UK Royal Navy. Raytheon is charged with conducting flight tests and providing life-cycle support. Production and delivery of the Tomahawk missiles is set to begin in 2015. Read More