Category Archive : Finance

Man Who Set Self on Fire in Australia Bank Complained about “No money for food”

Two people were in critical condition and four others suffered serious burns when a man set himself on fire in a bank in Melbourne, Australia earlier this week.

The 21-year-old man, one of the critically injured patients, walked into Commonwealth Bank in the Melbourne bank carrying flammable accelerant and started a fire about 11:30 am AEDT.
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The Fear Index is Predicting A Hillary Clinton Election Victory

This week the VIX index closed higher than 20 for the first time since June right before Brexit. The S&P 500 fell nine consecutive days in a row through last Friday, the first time that’s happened since gold and silver broke records in the late seventies and early eighties.

Monday and Tuesday saw generally positive momentum into the markets. Bitcoin, too, has increased in price, much like it did ahead of Brexit.


Over the most recent nine sessions, VIX has increased each time.  Early in the day, VIX continued its rise on Tuesday up 6%, but it fell throughout the afternoon leading many analysts to suggest a Ms. Clinton presidential victory. As Wall Street Journal suggests, a Clinton victory could mean a long way to fall for the VIX index.


“Once the election is over, a lot of the uncertainty and fear will go away,” Rocky Fishman, equity derivatives strategist for Deutsche Bank, told WSJ. “People will have a well-defined result by Wednesday.”


The VIX would seem to be suggesting that there will be no Donald Trump presidency, but, rather, Democratic Presidential candidate Hillary Clinton will be named the president-elect after a long and tough journey to the Presidency which saw the Democratic National Convention come under national scrutiny and Ms. Clinton’s use of internet servers drawing much scrutiny by U.S. law enforcement.

By noon Pacific Standard Time, the VIX had dropped more than 4% to 17.92. It dropped massively yesterday, ending the abovementioned nine day rally.

A Bitcoin volatility index, which most recently detected increased BTC volatility in July, in the wake of Brexit, has seen a steady climb in recent days, but the index is still far off its year-to-date highs.


The US Mint Won’t Even Buy Back Its Own Coins

Importers of scrap coins have waited for years as the US government tested coins, failing to return them without due process. Many coins appear to have been released by the government to go back to the proper owners. Yes, the U.S. Mint’s suspended buyback program remains suspended, meaning the US government won’t buy back its own currency. Coin recyclers are searching for other means to redeem their coin inventory.

The U.S. Bureau of Customs and Border Protection (CBP) is due to release over $700,000 in coin shipments to three importers, and pay over  $300,000 in melted coins detained and withheld without due process since 2014 and 2015, sources say.

Portland, Ore.-based Portland Mint LLC learned of the release of a shipment detained by the CBP for 507 days, according AMM.

The Mint’s program means recyclers will have to get creative. They can’t melt the coins down themselves, as it’s illegal to destroy U.S. currency. Coin recyclers are waiting to hear from the U.S. government what they can do with the piles of coins they’re collecting at global facilities.  Recyclers bemoan that the US government won’t even buy back its own currency.

“The suspension of shipments to the Mint has caused a severe business hardship, as we have been held up from shipping to the Mint for nearly 18 months. This includes almost six months prior to the formal suspension of the program in which we were unable to get an appointment to deliver coins,” according to an anonymous heavy media plant operator.

“While we understand and can deal with the market risks associated with scrap metals, we could never have imagined the current scenario under which U.S. currency has essentially become worthless with no ability to monetize it. … We are currently looking at various methods to clean and recirculate these coins, as we need to be able to recoup some of the costs already expended. On a much broader level, if the program stays on hold what impact will the continued suspension have on the monetary value of the coins and U.S. currency?” the source rhetorically asked.

Luke Palen, president of Rosemount, Minn.-based Spectro Alloys Corp.

concurred: “We’re frustrated that the program is still offline due to the fact that we want to be able to capture the value of all these coins.”

More frustration by other industry insiders: “This is currency and its value is being lost,” said Steve Bossotti, senior vice president of Morristown, N.J.-based Covanta Holding Corp.’s metals management division. Covanta might sort through its inventory for unmutilated coins – roughly one-third of the company’s coins.

Bossotti noted: “We are evaluating cleaning and sorting the coins and returning them into the U.S. banking system. We’d spend more time to process (them) and get less value but if the status quo continues, we have to look at doing something different because it’s value being lost.”

Industry CEO’s are willing to work with the government. “…But the Mint and Treasury haven’t even replied or taken us up on our offer,” Johnson said.

He added: “I don’t know how they can make a valid choice to stop the program, but we also understand that they need to figure it out. … This is U.S. currency and recyclers have a legal duty to redeem it. We need the Mint to lift the suspension as soon as possible.” The Treasury isn’t set to make a change to the program until November 2.

“The coins aren’t going anywhere until the program is resumed. It’s encouraging to see that the U.S. government is releasing our coins, but until the program comes out of a suspension there will continue to be far-reaching impacts through the industry,” said John J. Coughlin, a Moorestown, N.J.-based attorney representing three importers who are now suing the government for failing to return inventory without due process.

How Broke And Stoned Are You?

Rodrigo studied law, but never became a lawyer. The Mexican-American lives in Tijuana and works as a cannabis activist in California. He bounces between jobs. Depending on income, he smokes as much cannabis as possible.

35, Rodrigo laments how hard liquor leads him to spend money on friends and cocaine. He spends the most money on dates with his girlfriend.

Thanks to Mexican marijuana prices, he’s able to smoke cheap. He prefers US medical, and would only smoke that if he had the funds.

Raised in San Diego, Rodrigo has saved money living in the same place in Tijuana for seven years. A rough stretch once meant an entire year passed in which he failed to pay rent. His landlord said nothing. Does it depress him to be broke?

“Yes, it depresses me,” he says, “but, Tijuana makes it easier. I can make the money last.”

Rodrigo got paid the day before we spoke. Before payday, $4 were in his checking account. Now he had just under $1,000 which would need to last him until his next paycheck in two weeks.

“I am going to spend $500 this month on a co-working space in the heart of Tijuana I am trying to start with a friend,” he said. The co-working space has no workers, he said.

Rodrigo once laundered currency across the Tijuana-San Diego San Ysidro border. He profited from different exchange rates.  He got caught crossing without declaring $30,000. He was making more money than ever. He’s now a convicted felon.

“Man, if I had to live in San Diego, I’d have to move to Tijuana,” the American citizen, and Tijuana resident, quipped.

47% of US based respondents to the Federal Reserve board’s recent tri-annual Survey of Consumer Finance revealed that, in the event of a small emergency, they would not have more than $400 set aside. They would borrow from friends, family or sell belongings. Fifty seven percent said they burned through most of their savings after the 2008 financial crisis.

In a 2015 survey, 62 percent of respondents claimed to have fewer than $1000 in savings. 21 percent (mostly 35 through 54 year olds) had no savings account.

Older generations – especially those without money – have a hard time discussing money. MERRY JANE easily found stone broke cannabis users willing to talk financial misfortunes. Though like their older impecunious counterparts, they prefer to use pseudonyms.

No one knows how much former Lance Corporal Lew, 31, spent on marijuana before or after the marine corps, but he did smoke on a nearly daily basis. While without disability cheques last year, he lived residentially with the Veterans Administration for free boarding and housing.

“Obviously, I didn’t smoke during that period,” he told MERRY JANE. At present, Lew lives disability cheque to disability cheque, and therefore was not comfortable answering questions about current cannabis use. He admitted bouts with alcohol abuse had hurt his wallet far more than marijuana.

“I’ve never had a savings account even though I started working very young – around the age of ten,” he revealed.

Lew would mow neighbors lawns, babysit, do odds and ends and later gave swim lessons, all under the table.  At the age of fourteen he started working in restaurants.

“On one side of town, I worked at the Chinese stir fry, and at the other side of town I flipped burgers,” the Fallujah combat veteran recalled. That has led to a longstanding restaurant “career,” one he since re-entered after his time in the marine corps.

“Somewhere in the 2007-08 collapse one needed to work twice as hard for half the money,” he said. “I live off of my service connected disability and am going back to school for retraining. It’s extremely difficult to get hired in the non-federal field as a combat veteran. A certain stigma goes with the history. After twenty years of work, I still don’t have a savings account.”

Long Beach City resident Edmond, who works in physical therapy, says he “had the luxury” of being disabled – he lost the use of his legs –  and receive $800-$900 in disability per month.

“In Southern California, that might not even pay rent,” Edmond, 29, said. “I really struggled in marginal apartments.”

Now he makes “maybe” $2,000: “That doesn’t go too far either.”

Edmond says he is lucky there is public transportation to take him throughout Los Angeles. If he had to pay for a car outfitted for his disability, he’d be “flat broke each month.”

Currently working towards a masters, Edmond is now going into debt to improve his financial prospects. “It’s what it takes,” he said. “Pay at entry level jobs is a joke. If you’re single, and you’re trying to make it in So Cal, you need to pull in six figures with the tax implications. I do well with my disability, but it’s still a matter of scraping by.”

He buys marijuana from friends who harvest the plant in Northern California. They’ve supplied him since college. Marijuana doesn’t arrest Edmond’s budget too much. The self-admitted social alcoholic spends most of his money drinking. Edmond can spend a quad of marijuana (one month’s supply for him) worth of money in one night of drinking.

“I’ve lowered my alcohol intake,” he said. “Granted, today is Wednesday and I am going out tonight. And I will prob go out tomorrow and Friday. So, yeah, definitely alcohol is a greater detriment to my wallet and bank account than marijuana.” He contends marijuana saves him money.

“It helps me chill and take it easy, enjoy free festivals around Long Beach, concerts and art galleries,” the San Diego County native said. “With marijuana, I don’t get stuck in a bar. It helps me to be a bit more adventurous. It keeps me in check.”

Edmond injured himself drinking. It’d never have happened stoned, he says. No chronic pain, smoking bud just gives him “more enjoyment of life.”

“I just like to get stoned every once in awhile, relax and not worry about money or fucking whatever it might be with how expensive So Cal is,” he says. “Marijuana brings me back to the old school Cali’ days of enjoying the beach and enjoying life.”

“I’m not gonna be poor i always have enough to do what i want to do. Maybe i dont have a lot of savings i always have enough to get all my things.”

IRS Targets Colorado Marijuana Businesses

The Internal Revenue Service has sent many Colorado marijuana companies questionnaires largely focused on IRS Form 8300, which tracks cash transactions above a certain amount. Fears of money laundering charges have gripped cannabis entrepreneurs. Read More

Bitcoin Companies Have No Problem Complying

Many people have opined that Bitcoin is not illegal, such as Chris Kitze. Their argument centers on how the digital currency does not comply with know your customer and anti-money laundering regulations.

But, it’s likely Bitcoin is easily regulatable. In general, it’s business, not the financial instruments themselves, that do the regulating. Incorporated businesses virtually sign documents stating that, if they come across individuals breaking laws, they will report them. This is particularly the case when it comes to the financial industry. Bitcoin companies are generally considered financial companies.

Reports flood the internet about Bitcoin related companies instituting stringent know your customer and anti-money laundering policies – the policies which ensure that people are not profiting from illegal fund moving or terrorist financing.

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Representative Sherman’s Fall In The Fall & Rise In The Spring Interest Rate Speech

Check out Representative Brad Sherman (Democrat, California) make some religious-based assertions about when the Federal Reserve and Janet Yellen should raise interest rates. In a way, Representative Sherman makes some good points. Everything he says is true. Insert “nature” everywhere he says “God” – if you’re secular – and see the point he is making perhaps a bit more clearly. Now, learn about “interest rate” “Federal Reserve” and “Sherman” and things become a bit more mysterious.

People Are Freaking Out On Reddit’s r/Investing Right Now

As economist and investor Tuur Demeester pointed out on Twitter, people on r/Investing are truly freaking out amid the global stock market meltdown. One of the top posts of the day on the subreddit yesterday, posted by footballissoccer, shows a number to the National Suicide Help Line in the US.


In the comments individuals talk about how they are handling the volatility.

“I’ve made a decision not to sell. I’ve got little to no capital to throw into a well-time market low,” User leontes writes.“So- I’m deciding not to watch the market. Moment to moment checking just is upsetting. Whether it bounces back in a week, or a year, or a decade, so be it.”  One user posts yesterday was the first -1000 point drop day he has seen.

Another post, entitled  “Shit just got serious: US stock market authorities have been forced to suspend the futures market on the Nasdaq index,” underscores the freaking out. Some other notable posts include “ELI5: Why is there a panic in US stocks?” and “FUCK!!!!!!!!!!!!!

One poster suggests the amount of freaking out demonstrates the failure of basic economics courses in public school and higher education. The poster writes:

“I know everyone is a newb at some point, but this sub today especially has shown that most people are missing the very basic principals for investing. The fact that so many uninformed people have the ability to buy/sell their 401k/IRA holdings at the click of a button is scary. Add the media hype on top of that and bring on the panic. It is like stealing candy from a baby.”

Simply put, others felt merely screwed:

The fact that small time investors like me couldn’t place orders through ANY brokerage platform this morning really pisses me off. Almost every stock was trading at HUGE discounts; big banks and institutional investors are sucking up blue chip companies like its Black Friday. Meanwhile I’m sitting at my computer looking at freaking error messages and eventually get my order executed 4 HOURS LATER when the market is flat. I’m not a conspiracy theorist but a surefire way to dishearten the larger investing public is to exclude them from a market flash sale intended only for big money firms on wall street. The stock market is supposed to be the beacon for free market capitalism and what happened today felt like the exact opposite.

Other posts focused on the positive sides of the stock market crash. One user was curious what to buy during the dip, an investor who claims to have survived three major crises says now is the time to buy, and a high schooler wished to thank God for the dip.

Why The Stock Market Crash Is Really Good For Donald Trump

Republican presidential candidate Donald Trump took to Twitter to voice his displeasure about the United States’ close ties to China as the Dow plummeted 1,000 at its open on heavy algorithmic trading. 

“As I have long stated, we are so tied in with China and Asia that their markets are now taking the U.S. market down. Get smart U.S.A.” Trump tweeted.

“Markets are crashing – all caused by poor planning and allowing China and Asia to dictate the agenda. This could get very messy! Vote Trump,” he wrote in a separate Tweet. Trump Instagramed a video on the issue.

“I’ve been telling everybody for a long time China’s taking our jobs, they’re taking our money. Be careful, they’ll bring us down. You have to know what you’re doing,” Trump says. “We have nobody that has a clue.”

Unfortunately for everyone who is not a Trump follower – for instance, Deez Nuts supporters – the stock market crashing now is not such a good thing. For Donald Trump and his followers, it could be a very good thing.

Historically, economic uncertainty have allowed what were once radical and fringe personalities to seize considerable power in their country. In 1920s Germany, the government at the time – known as the Weimar Republic – endured unfortunate economic crisis after the Treat of Versailles tasked Germany with paying back all World War I debts.

This ultimately led to the sort of monetary conditions wherein the famous photos of people bringing wheelbarrows full of money to the market for food and other goods. In post-war Italy, Mussolini’s great oratorical skills, the post-war economic crisis ravaging Italy, and an increasing fear of socialism allowed his Fascist Party to lead the Italian government into World War II.

Argentina is familiar with such a history when economic crisis in the 1930s led to a military junta which dominated the country on-and-off until the 1970s.

In Nazi Germany, history generally explains that Hitler did improve the economy when he came to power in 1933. The following 5 years were a time of economic growth and numerous state run programs were designed to ease the economic burden on everyday Germans. Many people in Germany  viewed Hitler as the one who could save them from the turmoil of the previous decade+. Some think the same of Trump:

Trump took to Instagram to voice his warning:

Depression- be careful of China!

A video posted by Donald J. Trump (@realdonaldtrump) on

Michael Snyder Warns The World: “Buckle up – we have got quite a bumpy ride ahead of us.”

The Economic Collapse Blog’s Michael Snyder was kind enough to answer some of GoldSilverBitcoin’s questions. In the following written interview you will read about Snyder’s predictions for the coming months and years.

GSB:24 nations are currently facing a debt crisis. How unprecedented is this in the history of the world?

M: Right now, global debt is at an all-time high. When you add up all forms of debt, the debt to GDP ratio for the entire planet has reached a staggering 286 percent. We have never seen anything like this before, and anyone that is not entirely blind can see that this is going to end very, very tragically.

GSB: Is it hyperbole to say that Germany is taking over Greece?

M: I think that it is more complicated than that.  There are some very powerful forces in Europe that are not satisfied with the status quo.  I expect that we are going to see some dramatic things happen in Europe very soon, but the end result will be a Europe that is much more centralized and much more integrated.

Do people underestimate the potential for contagion from the second largest stock market in the world, China, to the US?

Definitely.  The global financial system is more interconnected than it ever has been before, and just like we witnessed in 2008, when one area of the planet starts to feel immense pain the entire world will eventually.

But I don’t think that China is the big story.  Watch the big banks in Europe, and once things in Europe begin to unravel watch the U.S. markets very closely.

GSB: Is Puerto Rico the US’s Greece?

M: You could definitely say that, and the crisis in Europe is going to hit some players in the U.S. pretty hard, but in the end Puerto Rico is not that significant.  It is just another symptom of a much bigger global debt problem.

Why is it significant that shadow banking assets are greater than traditional banks?

The reason why it is so important is because the shadow banks are largely unregulated.  They have been running around doing absolutely crazy things, but because they are not really regulated much their behavior has gone under the radar pretty much.

But when this next great financial crisis erupts, we are going to hear a lot about them.  They play a critical role in the flow of money around the world, and once they start imploding it is going to cause tremendous problems.

GSB: Why is your new documentary, Economic Collapse, World War III & The Death Of America, so important?

M: In that DVD, I address some things that I have never addressed publicly before.  Sometimes people may read my articles and come away with the impression that I am not revealing everything that I know.  And that is 100 percent accurate.  As with so many things in life, timing is everything.  There are some things that were not meant to be revealed yet, and there are still many things that are not meant to be revealed.  But in this DVD, I have gone further than I have ever gone before.  Many that are familiar with my work are going to be absolutely stunned by what I have to say about the future of America.  Over the course of two hours, I lay out the most comprehensive roadmap of what I believe the coming years will bring that I have ever come across.  The material that I cover is for those that are truly interested in “taking the red pill” and going quite a bit further “down the rabbit hole”.

GSB: What else are you keeping your eye on currently?

M: On June 25th, I released an article entitled “The Economic Collapse Blog Has Issued A Red Alert For The Last Six Months Of 2015”.  This is the first time that I have ever done anything like this.  I believe that a major financial collapse is imminent.

When I say “imminent”, I do not mean that I believe that it is coming within the next couple of weeks.  And I do not mean that it will be over by the time 2016 arrives.  But what I am saying is that we are right on the verge of a 2008-style financial collapse, and that it will eventually turn out to be much worse than 2008.

I believe that we are entering a time unlike anything that any of us have ever experienced before.  The debt-fueled prosperity that we have all been enjoying is ending, and now a lot of pain is on the way.  That is why my new book is entitled “Get Prepared NOW”.  I put an emphasis on the word NOW because I don’t believe that there will be a chance to prepare for the coming crisis later.

I know that the relative calm of the last few years has lulled a lot of people into a false sense of security.

But none of our underlying problems have been fixed.

Instead, they have gotten much, much worse.

If I am right, the months ahead of us are going to be very chaotic and events are going to start accelerating greatly.

So buckle up – we have got quite a bumpy ride ahead of us.


Paul Krugman: “Debt Is Good For The Economy”

In his most recent post at the New York Times Paul Krugman submits that debt is good for the economy. He posts in response to Rand Paul who posted on his Twitter account that,  “The last time the United States was debt free was 1835.” Krugman then lays out the case for why debt is good.

“The British government, by the way, has been in debt for more than three centuries, an era spanning the Industrial Revolution, victory over Napoleon, and more,” he writes. He goes on:

Believe it or not, many economists argue that the economy needs a sufficient amount of public debt out there to function well. And how much is sufficient? Maybe more than we currently have. That is, there’s a reasonable argument to be made that part of what ails the world economy right now is that governments aren’t deep enough in debt.

Krugman admits that might sound a bit crazy considering the fiscal panics we endure often “with all the Very Serious People declaring that we must slash deficits and reduce debt now now now or we’ll turn into Greece, Greece I tell you.”  In the end, Krugman believes all of the focus on debt is unfounded:

In other words, the great debt panic that warped the U.S. political scene from 2010 to 2012, and still dominates economic discussion in Britain and the eurozone, was even more wrongheaded than those of us in the anti-austerity camp realized.

Not only were governments that listened to the fiscal scolds kicking the economy when it was down, prolonging the slump; not only were they slashing public investment at the very moment bond investors were practically pleading with them to spend more; they may have been setting us up for future crises.

And the ironic thing is that these foolish policies, and all the human suffering they created, were sold with appeals to prudence and fiscal responsibility.

“America Is America’s Greece” – Exclusive Interview With Andrew Hoffman

A storm is brewing on the global level. In recent weeks the world has seen numerous nation-states plagued by economic turmoil. China, Greece, Puerto Rico, Venezuela and others have had a taste that the global crisis which shocked the world in 2008 was not in the past. Rather, it remained in the present, as well.  The Chinese stock market crashed, and its the second largest stock market in the world.  Pundits wondered – could the same happen in the US. 

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NYSE Technical Glitch, China Stock Meltdown & Greece’s Final Hour

Trading on the New York Stock Exchanged resumed Wednesday after being halted for about four hours due to “unknown internal technical reasons.”  Internal technical issues are being cited for the reason why NYSE shut down trading at 11:32am EST, which also shut down trading on the NYSE MKT exchange, a market where small companies are traded.

In August 2013 a “Flash Freeze” shut the Nasdaq down for hours, as a “problem with NYSE systems” was blamed.  Today’s is but the fourth trading halt at the NYSE due to technical problems in 15 years.  Stock trading did not cease completely, as NYSE-listed stocks were still being traded on 11 other exchanges, like the Nasdaq. Read More

European Central Bank Protests Turn Chaotic

Police in Frankfurt, Germany had barricaded with barbed wire the European Central Bank headquarters in preparation for demonstrations against “government austerity and capitalism.” Those demonstrations have come and gone, leaving a mess behind.

The so-called “Blockupy” alliance said activists were planning a blockade of the new headquarters of the ECB before a ceremony Wednesday to inaugurate the building, and to disrupt so-called “capitalist business as usual.” Read More

President Obama State Of The Union States Economic Goals

According to CNBC:

In his State of the Union speech Tuesday night, President Barack Obama plans to put forth a plan to try to slow the widening gap between the richest and poorest Americans.

Gold Price Stabilizes As European Central Bank Announces Quantitative Easing

Gold and silverbugs are starting to think things are changing in the precious metals market, even if most commodities are still a bit off. That demand has increased is typical for December, but prices are higher than they’ve been in quite awhile. Five months in fact. Read More

The Daily Coin Talks Gold, Russia, Bitcoin & Art

As a daily contributor at for the past three years Rory has written dozens of original articles and interviewed some of the top precious metals professionals in the industry, as well as top preparedness specialists in the world. YouTube Channel, The Daily Coin, was launched in February 2014 and website was launched April 25, 2014. As a student of monetary, financial and economic history for the past seven years Rory has learned to watch the markets with an open mind and with a hand on his wallet.

Check out The Daily Coin on Facebook and Twitter.

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The Viral Plan To Redesign America’s Money

Have you ever wondered why things could change so easily, but don’t? So has one man, who has set out with a very specific mission to change the way things are. Travis Purrington is on a mission to re-design the dollar as part of his master’s degree. Purrington wrote his 2011 master’s thesis for the Basel School of Design, presenting the proposal therein. Gizmodo called the design superior to the current banknotes. Mashable argued the nation should make the change. Slate wrote that the new designs are a hit. They  are all over Tumblr. Read More

A Wild Day & Night For Stocks, Gold, Currencies & The Economy

This weekend might have left you wishing you were in semi-numismatic coins as the prices were wildly volatile. First ZeroHedge reported an uptick in the gold price of $190.

Then, when markets opened, metals tanked.

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Bitcoin, Gold & Silver Liquidated For Alibaba?

Alibaba Group had a huge debut with its shares beginning to trade at $92.70, up over 36% from its IPO price of $68.  That increase on the New York Stock Exchange raised the company’s total market value from $168 billion to over $220 billion. Alibaba had raised $21.8 billion in its hotly anticipated IPO, the largest in US history, dwarfing Facebook Inc’s IPO.

The price of bitcoin has fallen from its $513 price of one month ago to as low as $381.17 on Friday. This week alone the crypto-asset fell from $513 to $381. Read More

The Banks Are More Profitable Than Ever, And There’s Even Fewer Of Them Than Before

Fewer banks and higher profits. That’s the reality in post-banking crisis USA, and really the western world.  American banks are doing better than ever, according to FDIC data.

America’s bank profited to the tune of $154 billion last year, nearly 10% more than the $141 billion in profits reported in 2012, and 6% more than the pre-crisis peak of the $145 billion in profits banks posted in 2006. Read More

Meet The Most Charming Man In High Finance. His Expectation For The Future Affects Everybody

[heading]Meet The Most Charming Man In High Finance. His Expectation For The Future Affects Everybody[/heading]

JP Morgan has had to payout $20 billion to settle legal and regulatory matters in recent years, but still JPMorgan’s CEO, Jamie Dimon, remains one of the most popular figures in finance. How?

Although many of the Occupiers who lined the streets against Wall Street in 2011 might not know who Mr. Dimon is, those who follow finance closely do. And, chances are, despite his bank’s penchant for fraud and market manipulation, if you know who Mr. Dimon is, you’ve come to enjoy some of his antics. Read More

Did You Get Screwed In An IPO?

[heading]Did You Get Screwed In An IPO?[/heading]

USA TODAY reports that regular joe schmoes of the investing world are getting screwed on the crashing value of recent IPOs. Privileged investors, who enter into the shares early, are contrarily winning big.

There have been 41 initial public offerings in the last year, with stocks such as Twitter, Noodles and Sprouts Farmers Market taking their businesses public. In each of these cases, privileged investors who bought shares at the so-called offering price are sitting on massive profits. Most individual investors, however, are suffering massive losses. Read More

Are Adult Entertainers Being Driven To Gold, Silver, Bitcoin?

The US government doesn’t want people in so-called “high-risk” industries to have access to the banking system.

This includes everyone from gun shop owners, to bitcoiners to marijuana dispensaries and even porn stars!

But what the Department of Justice is overlooking is the simple fact that people will turn to gold, silver and bitcoin instead of the banking system. Bitcoin does not discriminate. Read More

The State Of Major Modern Nation-State Economies & The Real Bitcoin Economy

If it weren’t for monumental quantitative easing programs, the world’s economic leaders would not be hiring the bit faster nor creating a few more jobs as they currently are.

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Why Twitter Is No “Catalyst For A New Technology Investment Mania”

When I saw the headline that Twitter was sparking a new “catalyst for a new technology investment mania”, I spit my tea all over Apple laptop. Thanks Financial Times.

As Financial Times writes, because of Twitter, “a new era has officially begun.”

I think they’ve missed the point. Read More

Erratic Banks Make Using Bitcoin Unpredictable

[heading]Erratic Banks Make Using Bitcoin Unpredictable[/heading]


Regulators, authorities and bank management have shown their hand when it comes to Bitcoin: they are nervous about what the future might hold. Read More

It’s A Woman’s World: New Fed Chairman Yellen Introduced

[heading]It’s A Woman’s World: New Fed Chairman Yellen Introduced[/heading]

Although the Federal Reserve chair is considered by many to be a figurehead, like President’s and Prime Ministers, women around the world can rejoice …finally.

As of today, it is officially a woman’s world. Read More

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