“Follow the money,” the Watergate informant Deep Throat supposedly advised Washington Post reporter Bob Woodward in a dark parking garage.
Back in the 1970s, they were following money you could find, such as cash and checks. Today, it’s a bit harder to track because of Bitcoin, the virtual currency favored by libertarians and people who don’t want anyone to follow their money.
Creative ways for people to purchase cars they can't afford have been on my radar screen for some time now, and if you recall, I posted an article last April titled: Just Keep Dancing: Introducing the 97-Month Auto Loan.
What are we to make of this sudden rash of banker suicides? Does this trail of dead bankers lead somewhere? Or could it be just a coincidence that so many bankers have died in such close proximity? I will be perfectly honest and admit that I do not know what is going on. But there are some common themes that seem to link at least some of these deaths together. First of all, most of these men were in good health and in their prime working years. Secondly, most of these "suicides" seem to have come out of nowhere and were a total surprise to their families. Thirdly, three of the dead bankers worked for JP Morgan. Fourthly, several of these individuals were either involved in foreign exchange trading or the trading of derivatives in some way. So when "a foreign exchange trader" jumped to his death from the top of JP Morgan's Hong Kong headquarters this morning, that definitely raised my eyebrows. These dead bankers are starting to pile up, and something definitely stinks about this whole thing.
Bharara is standing, shoulders squared at a lectern, eyes darting across the room. He takes in the awkward laughter, which hasn't been heard much in these circles since the market bust of 2008. It's hard to know how to react when a lawman makes a joke, and it's especially hard when you happen to work on Wall Street and the lawman is Bharara.
Like a cancer, the political, interest-based, debt-money system corrupts everything it touches. It’s time it was replaced. This is the fifth article in our series on the role of money in the transformation of society.
David Knight breaks down the biggest news of the day including the FDA targeting whistleblowers and the possibility of a third world war with the situation in Ukraine. David also breaks down how the largest Bitcoin exchange has gone "belly up" and lost almost half a billion dollars worth of Bitcoins.
Its collapse into bankruptcy last week — and the disappearance of $460 million, apparently stolen by hackers, and another $27.4 million missing from its bank accounts — came as little surprise to people who had knowledge of the Tokyo-based company’s inner workings. The company, these insiders say, was largely a reflection of its CEO and majority stake holder, Mark Karpeles, a man who was more of a computer coder than a chief executive and yet was sometimes distracted even from his technical duties when they were most needed. “Mark liked the idea of being CEO, but the day-to-day reality bored him,” says one Mt. Gox insider, who spoke on condition of anonymity.
From ancient times, gold coins were minted with identifying marks—a likeness of the king was common—and a denomination. This process helped indicate exactly how much gold was contained in a coin and, therefore, how much the coin was actually worth—its “face value.”
I've developed a new open source P2P e-cash system called Bitcoin. It's completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper:
Newsweek has published a story purporting to have uncovered the real identity of Satoshi Nakamoto, the enigmatic creator of cryptocurrency Bitcoin. A trail of investigation reportedly led to "a 64-year-old Japanese-American man whose name really is Satoshi Nakamoto," and who has "a career shrouded in secrecy, having done classified work for major corporations and the US military." Nakamoto is said to live in southern California and to have kept his work on Bitcoin secret even from his family.
The courts in Japan, where Mt. Gox is based, may not recognize bitcoin as a currency, meaning they’re unlikely to catalog customer assets at anywhere close to full value. And even if they did, it may be difficult for anyone to retrieve even a fraction of what they had in the exchange. The bankruptcy systems here in the real world just aren’t prepared to deal with bitcoin.
I got a text message today from a PR person – one I actually like – who asked me if I wanted the exclusive on two new bitcoinATMs in Austin as well as a “roving” ATM that will, presumably, be spitting out cryptocurrency for drunk social media marketing managers at SXSW.
Bitcoin backers unfazed by more setbacks The Hill (blog) one of the leading voices for prohibition, Bitcoin Foundation chief counsel Patrick Murck said “the bitcoin ecosystem is still very much in its infancy,” and America would be shortsighted to...