14
Apr
2013
The Privateer is Calling it Quits

[I’m stunned and saddened, but he has to do what’s right for himself. William Buckler is a huge inspiration to me, a hero of free markets and REAL capitalism and I hope he re-emerges sooner than later. We need him. ]

Dear Mark Jeftovic,

Please read this letter, it is important.…

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12
Apr
2013
Understanding Bitcoin Part 2: An Evolutionary Monetary Response to Calvinball Finance

Those who think that after the Bitcrash the crypto-currency is headed for zero are as mistaken as those who thought it could continue its meteoric ascent forever. The stunning run over the past few months was a bubble, few can deny now. That bubble has probably popped, and as I said in Part 1 yesterday, that would be a good thing for the currency itself.…

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11
Apr
2013
Understanding Bitcoin Part 1: bITcrASh! Suck it Up Buttercup

After a parabolic rise that can only be described as “meteoric”,  in a matter of hours today, Bitcoin crashed and lost somewhere between 40% and 60% of it’s value. The crypto-currency settled somewhere in the Btc160/USD range, cutting it’s gains since it’s 2009 launch to a meager 21,104% and returning it to levels not seen since …last week.…

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6
Apr
2013
The Monstrosity Cooked Up In An Economic Meth Lab

lolonomics_modifiedThe more I listen to David Stockman’s The Great Deformation audiobook, the more enraged I get, and so far there hasn’t been much in there that I didn’t already know.

TARP was a Grand Swindle, perhaps the crime of the century as the better part of a Trillion dollars was injected into the banking system to shield corrupt, incompetent thieves from a cleansing purge that is the basic fundamental mechanism of a free market.…

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5
Apr
2013
Canadian Bail-In: When Canuck Depositors Get Smoked Will The CDIC Be Any Help?

Not long after the Cyrpus”bail-in” happened markets were spooked when Dutch finance minister Jeroen Dijsselbloem (a.k.a Diesel-BOOM or just D-Boom for short) called it “a template” for future rescue actions.

Notwithstanding that in recent days ECB head Mario Draghi has backed away from the “bail-in as template” position, the “template” seems to have already found its way across the pond – to Canada and popped up in the proposed budget  (PDF) in an innocuous sounding paragraph on page 155:…

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1
Apr
2013
BREAKING: President Suspends 5-Second Rule

The venerated “5-second rule”, which enables youngsters and adults alike to retrieve and then eat a coveted sweet, candy or morsel of food that has been dropped on the floor, provided it is retrieved within 5 seconds of impact, has been suspended by executive order of the Obama administration.

Citing “3 key win/win effects” executive order 1304-01 (dubbed the “Zero-Cost Prosperity Act”) was announced moments ago.…

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