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Bitcoin Is A Game Of Confidence

Meet the new Wolf of Wall Street: Bitcoin, the anonymous computer currency. And boy do we mean anonymous. Let me make sure we got this right. We have a virtual currency, backed by absolutely nothing except the fierce belief in the integrity of a complex mathematical formula which few of its proponents even understand, and is proving to be little more trustworthy than the U.S. dollar, after hackers tested and defeated controls put in place to manage it, and then fail at the first hurdle. Yeah, that sounds about right. Repeat after me… Bitcoins are not money. The market value of one Bitcoin has gone from about $2 to $1,000 in a year. Seriously? This virtual currency was created out of thin air and is being managed by people, whom we don’t know, and nobody is supervising them. In their defense, how can we supervise them, we don’t know who “they” are! So one must ask if there isn’t a very big risk that the ‘creators’ could disappear with all your money. No, they would never do that to us would they? “Virtual currency like Bitcoins are innovations that deserves great caution, given the lack of any guarantees and responsible parties to back them in the longer term or evidence that this isn’t just another Ponzi scheme.” In reality, Bitcoin creators are faceless and anonymous and you have no idea if they are cyber-criminals or well intentioned people who are looking out for you. As far as I am concerned, Bitcoin is just another tool, another penny stock, another empty shell company. In the fall of 2011, bitcoin was at $2. By November 2013 it had risen to more than $1,000! If that’s a currency, those bitcoinians must be some productive citizens. A currency built by hackers and anonymous code-writing anarchists offers a pretty weak alternative to our current monetary system. But if you saw the movie, you know that “wolves” lure the unwary in, let them feed and grow comfortable for a while – and then the wolves pounce. “If you don’t hold them in your hands, you don’t own them!” When you buy Bitcoins, you own a piece of a trust – you do NOT own any actual metal. You cannot trade your shares in for actual gold coins. In a crisis situation or Bitcoin collapse (remember Mt Gox), all you have in your hands is a piece of paper saying you own a share of Bitcoin.... read more

How safe is your money if your bank gets hacked?

The FBI is looking into the reported cyber attack on JPMorgan. Earlier this week, many reports surfaced that one of the worlds largest bank was just one of seven major American banks reportedly hit by hacking attacks. JPMorgan is saying no accounts were compromised and that no personal data was taken, but would they really tell us the truth? It’s a very disturbing to say the least. If your credit card information is stolen, you can call the credit card company and explain to them them it wasn’t you making the charges and it’ll be fixed. But if someone steals your bank account you’ve got major problems. All bank accounts are insured by the FDIC (Federal Deposit Insurance Corporation), but that will only cover you if the bank fails. Your deposit insurance protection does not apply in the case of theft or fraud. When you deposit your money in the bank, you are giving the bank permission to use it. And trust me, they do. If that bank fails then the FDIC kicks in and hopefully you get your money back. This is not always the case. Just look at Cypress or any other country where their monetary system has collapsed. Right now, there looks to be more questions than answers when it comes to the recent banks attacks. How many customers data has been stolen? How long did hackers have access to the banks systems? Most times, a hacker simply needs to access your primary email account to have full access to your life. Online banking and other companies like Paypal will send a lost password to your email account. By requesting a lost password from your banking site, the hacker (who also has full access to your email account) has full access to your accounts. Whenever possible, use a separate email account for your bank account and personal emails. And, to protect yourself from identity theft, use these simple Internet safety tips: 1. Never use the same password twice. For instance, your bank password should not be the same as your email password. Use a unique password for each site. 2. Opt for a hard to guess password that does not include any details from your personal life. Never use part of your social security number or name as part of a password. Store your passwords offline on a written form. This will reduce the temptation to use a simple password. 3. Don’t share personal details like... read more

Injustice Anywhere: How Can We Trust Our Police Officers and Prosecutors Anymore?

How many innocent people are convicted on false charges from police? It seems like every day we hear something in the news about another police shooting of an unarmed man or the mistreatment of its citizens during a checkpoint or traffic stop. Misconduct by Police encompasses illegal or unethical actions or the violation of individuals’ constitutional rights by police officers in the conduct of their duties. Examples of police misconduct include police brutality, dishonesty, fraud, coercion, torture to force confessions, abuse of authority, and sexual assault, including the demand for sexual favors in exchange for leniency. A quick search of Youtube and you can find all the evidence of this misconduct you want. But, what if a police officer makes up charges? Can it happen? Does it happen? What you are about to see in the video below is very true and quite disturbing. It was all caught on video. Had it not, this gentleman would have been prosecuted and he is clearly innocent of all charges. Pay close attention to how the cops act during the traffic stop and see if you can point out any police misconduct. Notice how the cops tries assert his authority in order to get the man to just comply. The officer knew he was in the wrong and tries to use threats in order to get the man to just go along with the program. Then pay real close attention to Prosecutor Greenwood. He has some interesting things to say about how things really work. The video is a little tough to watch. The guys does go into some detail of what is happening. Stay with it and you will see the ugly truth. I verbally objected to an unconstitutional search of my vehicle in Electra, Texas. Police officers Matt Wood and Gary Ellis maliciously responded by issuing me two false citations. I got a copy of the dashboard-camera video at the pretrial hearing. It showed all. City attorney Todd Greenwood demanded I give my copy of the evidence back, and tried to have me arrested when I refused. Todd Greenwood then compared rural Texas to the movie Deliverance, and warned me “What’s written down in the Constitution is one thing, and the real practice is another.” All charges dropped. Section 1983 anyone? How many times has this happened to someone who was not fortunate enough to have video? It’s looking like our own Government poses as the biggest threat to us.... read more

National Defense Authorization Act Can Jail You for Belligerence Acts?

December 31, 2011, President Barack Obama signed into law the National Defense Authorization Act (NDAA). The Act was passed in the House of Representatives on May 26, 2011 by a vote of 322 to 96. The Act was passed in the Senate on December 15, 2011 by a vote of 86 to 13. Below is an excerpt from the Act, the wording of which makes it legal to incarcerate United States citizens without recourse to any form of judicial process. Essentially these words say that if the government deems any person to have committed a “belligerent act” that person can be detained indefinitely without trial. Subtitle D — Counterterrorism SEC. 1021. AFFIRMATION OF AUTHORITY OF THE ARMED FORCES OF THE UNITED STATES TO DETAIN COVERED PERSONS PURSUANT TO THE AUTHORIZATION FOR USE OF MILITARY FORCE. (a) IN GENERAL. — Congress affirms that the authority of the President to use all necessary and appropriate force pursuant to the Authorization for Use of Military Force (Public Law 107–40; 50 U.S.C. 1541 note) includes the authority for the Armed Forces of the United States to detain covered persons (as defined in subsection (b)) pending disposition under the law of war. (b) COVERED PERSONS. — A covered person under this section is any person as follows: (1) A person who planned, authorized, committed, or aided the terrorist attacks that occurred on September 11, 2001, or harbored those responsible for those attacks. (2) A person who was a part of or substantially supported al-Qaeda, the Taliban, or associated forces that are engaged in hostilities against the United States or its coalition partners, including any person who has committed a belligerent act or has directly supported such hostilities in aid of such enemy forces. (c) DISPOSITION UNDER LAW OF WAR. — The disposition of a person under the law of war as described in subsection (a) may include the following: (1) Detention under the law of war without trial until the end of the hostilities authorized by the Authorization for Use of Military Force. What is a “Belligerent Act”? For the purposes of defining what a “belligerent act” is, with respect to a US citizen, how does the government differentiate between an act of war against the United States vs. a lawful protest against the government? Prior to this Act, such a distinction would have to be decided in a court of law by a jury of a citizen’s peers. With the signing of the... read more

How Long Can the Fed Have It Both Ways?

Fed officials have begun tapering. The flow of freshly printed cash flooding into the markets to buy Treasuries and mortgage securities has dwindled from more than $80 billion per month to a “mere” $25 billion. Fed bond purchases using newly created money appear likely to end altogether. (But Fed officials have not suggested they would sell the trillions of dollars in bonds they now hold.) Interest rate hikes could be coming. Partly in reaction to this shift in Fed policy, the dollar has strengthened, and the precious metals markets have struggled to move up. But some market movements are difficult to explain. Record equity market valuations and lower Treasury yields don’t make a lot of sense if the flow of newly printed Fed cash is coming to an end. Markets are famous for being irrational. There are plenty of examples of counterintuitive moves persisting for some time. But we don’t think investors should expect the current dichotomy to last forever. The strength in the market for U.S. Treasuries is perhaps the most bizarre. Prior to tapering, the Fed bought more than 80% of all new issuance. Some rightly wonder how the central bank could now prevent bond yields from rising as needed to attract replacement buyers. Perhaps all is not quite as it appears. About the time the Fed implemented the first round of tapering, a mysterious new buyer suddenly appeared on the Belgian-based Euroclear clearinghouse. This buyer filled the enormous demand void left by the Fed. The surge in holdings is attributed to Belgium itself in the reports, but don’t be misled. The tiny nation is simply where Euroclear is based, and the real buyer remains a well-guarded secret. The secret buyer of U.S. government debt may well be the European Central Bank in cooperation with the Fed. It is also quite possible our privately held and unaccountable central bank is working with some other proxy. The market-manipulators at the Fed can certainly create the illusion of buyers clamoring to buy Treasuries at epic low yields — even if they can’t have it in reality. The Fed is all about psychological manipulation. Are you awake Yet? Stay in touch and get more insights with the America’s Great Awakening Newsletter. To sign up click... read more
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