Category Archives: Economy and Debt

March 28, 2017

Venezuelans Using ‘Rare Pepes’ and Bitcoin As Currency

Internet users in Venezuela have finally quantified what it truly means to have a rare Pepe, buying and selling Pepe-themed, bitcoin-linked trading cards as a way to escape the economic control of their socialist government.

The idea of images of the popular green frog being “rare” started off as a joke on 4chan, where users would claim that their images of Pepe were rarer and more valuable than everyone else’s. It escalated into people selling their collections of Pepe on eBay, with bids reaching up to almost $100,000 before eBay took it down.

There were never any serious transactions however, with everyone involved enjoying the ironic humour of the situation. More recently, a group of redditors have been “trading” memes of any shape and size on /r/MemeEconomy, attempting to create a stock market in meme popularity. But, it turns out that rare Pepe collecting online is now a serious business.

Sometime last year, an unknown individual began issuing “official” rare Pepe trading cards using the Counterparty platform to link them to bitcoin, in an attempt to poke fun at another online trading game called Spells of Genesis. Today, these cards can be exchanged for the equivalent of thousands of US dollars on Counterparty’s decentralised exchange.

This is due to a creation of artificial scarcity in the cards (as one would expect trading cards to have). Anyone can issue their own rare Pepes, but these are then verified by the official Rare Pepe Foundation, and linked to a certain piece of the bitcoin chain via a practice known as coin colouring. Whomsoever owns that particular bitcoin key address owns the Pepe associated with it. All verified rare Pepes can be viewed in a complete directory of them.

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March 27, 2017

Spain’s EU exit on horizon as ‘only a miracle’ can save nation from debt bubble BURSTING (Video)

Spanish university professors and economists are calling on Prime Minister Mariano Rajoy to come clean over its debt burdens as calls for the country to leave the European Union (EU) grow.

And they say it is absolutely essential that the People’s Party-led government immediately produce accurate figures over the country’s GDP as debt burdens weigh on hardworking families.

The average Spanish family is crippled with £118,000 (€136,000) in debt brought on by years of mismanagement, it has been warned.

But leading economist Robert Centeno says the unstable administration led by Rajoy which has been in gridlock since the controversial election in 2015 is not being honest about Spain’s current economic conditions.

And there are growing calls for him to disclose figures amid serious concerns Spain could be set to default on loans which cannot conceivably be paid off for half a century.

Mr Centeno said: “People don’t really know what type of menace the national debt is for their lives.

“The mass media in Spain simply certify the ‘official’ figures that the government gives.

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January 26, 2017

Ron Paul Says Trump Is Trying To Stop Global Collapse (Video)

Alex Jones talks with Ron Paul about how he feels about Donald Trump and what he’s accomplished so far as President of the United States.

December 10, 2016

Consumers, businesses, and CEOs are all loving life since Trump’s election — and that’s great news for the economy

“Bottom line: most business activity surveys point to greater confidence following the election,” concluded Meyer.

Americans from all corners of the economy seem to be enjoying the conditions a lot more since the election of Donald Trump.

Nearly every measure of consumer, business, or executive confidence has gained in the month since the election according to Michelle Meyer, chief US economist at Bank of America Merrill Lynch.

“The data clearly show that consumers, investors, and business CEOs have all become more optimistic since the election,” wrote Meyer in a note to clients on Thursday.

Everything from regional manufacturing indexes to consumer confidence surveys to investor sentiment have ticked up since November 8. The only survey that has slid is the ISM-adjusted Empire Manufacturing survey that measures confidence of New York state manufacturers.

“Bottom line: most business activity surveys point to greater confidence following the election,” concluded Meyer.

The biggest confidence boost has come from consumers according to Meyer, with both the Conference Board and Investor’s Business Daily (IBD) & TechnoMetrica Market Intelligence (TIPP) indexes hitting post-recession highs.

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September 9, 2016

Blasting “False Economy,” Trump Takes on the Federal Reserve

Trump’s comments on the stock market, while almost totally overlooked by the establishment media, were also right on the money. As The New American reported two years ago, the stock market is now dominated by governments and central banks, which in 2014 had some $30 trillion invested in equities and other assets. That may prop up prices temporarily, but the huge and growing economic distortions will bring massive pain in the months and years ahead as they inevitably blow up.

Taking aim at the Federal Reserve’s politically motivated manipulation of the U.S. economy, GOP presidential candidate Donald Trump blasted the controversial central bank’s artificially low interest rates. He also denounced the “very false economy” propped up by Fed monetary gimmicks. Democrat nominee Hillary Clinton, though, hit back immediately, saying Trump should not malign or even comment on the increasingly unpopular institution that controls America’s monetary system.

Trump’s comments, which sparked national headlines, came earlier this week at an Ohio campaign stop in response to a question from a reporter about possible interest rate hikes by the Fed later this month. “They’re keeping the rates down so that everything else doesn’t go down,” Trump explained, touching on one of the establishment’s big secrets. “We have a very false economy.”

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August 14, 2016

Obama economy rips doors off ‘world’s largest store’

More than 11,000 retail outlets shuttered across U.S. since start of 2015.

Only two months ago, WND reported Macy’s stock had plunged precipitously after it summarily dropped its business connections to now-Republican presidential nominee Donald Trump when he announced his bid for the White House.

Now Macy’s is announcing the closure of another 100 stores, a move that, according to a retail industry website, pushes the total number of stores closed by retailers in the United States since the beginning of 2015 – a period for which President Obama boasts of a rising economy – to more than 11,000.

The economy, in fact, has been horrible under Obama. A report just this week in the Weekly Standard said: “In truth, the economy under President Barack Obama has been historically bad. How bad? Adjusted for inflation, average yearly GDP growth under President Obama has been less than half of what it was under President Jimmy Carter, 1.5 percent to 3.3 percent.”

The next-worst results came under President Truman after World War II, at 1.7 percent, Both Presidents Bush were in the 2-plus percent range, and President Reagan was at 3.5 percent.

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August 9, 2016

Full Speech: Donald Trump Delivers Remarks on the Economy in Detroit, MI 8/8/16 (Video)

Donald J. Trump delivered remarks on the economy at the Cobo Center in Detroit, MI.

July 21, 2016

Hungry Venezuelans cry at the sight of food, as economic crisis deepens (Video)

Venezuelans cried at the sight of fully-stocked supermarket shelves in Colombia.

Pregnant women, children and even elderly Venezuelans crossed into Colombia on Sunday after the border was temporarily reopened, allowing them to buy basic foods and toiletries — rare commodities in their home country.

Tearful Venezuelans had gone weeks without basic food items like milk, flour and toilet paper. It’s a sad but common part of daily life today in crisis-ridden Venezuela, a country that has the world’s largest proven reserves of oil. Colombian officials estimate that about 100,000 Venezuelans crossed the border.

Venezuela is expected to dive deeper into the abyss this year, according to new projections published Wednesday by the International Monetary Fund.

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July 15, 2016

Venezuela Puts Nation’s Limited Food Supply Under Military Control

Venezuela’s socialist president Nicolás Maduro has launched the Great Mission of Sovereign Supplying, a program which places the nation’s food supply in the control of the military, who will choose where to distribute the food and monitor ports accepting foreign food supplies.

Maduro announced the move Tuesday, appointing Minister of Defense General Vladimir Padrino López as the head of the program. As the BBC notes, the “great mission” will be able to “establish how purchases and distribution of food, medicine and household goods are made.” It will control five of the nation’s largest ports and regulate the function of the nation’s food processing plants.

Maduro explained the appointment of the military to control the nation’s dwindling food and medical supplies as a response to the “economic war” he alleges capitalist nations, especially the United States, are waging against his administration. The response to a war is, logically, deploying the military, he argued.

Padrino López has issued a public statement in response to criticism that having the military control the nation’s food supply will result is a systematic deprivation of those who oppose Maduro’s socialist government. The military will be “disciplining” the distribution of food and medicine, not “militarizing” it, he claimed. The Minister of Productive Agriculture, Wilmar Castro Soteldo, a likelier candidate to be running the nation’s food distribution, also issued a statement in support of the military’s takeover. “The country is in an abnormal situation,” he said, noting that the military “will be able to tend to agriculture production problems focused on the current war.”

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July 3, 2016

How 2 US senators profited from America’s financial crisis (Video)

Documents connect Senators Bob Corker and Mark Warner to controversial Wall Street deals.

“The idea that Wall Street came out of this thing just fine, thank you, is just something that just grates on people. They think you didn’t just come out fine because it was luck. They think you guys just really gamed this thing real well.”

So said then-Senator Edward E. Kaufman, a Democrat from Delaware, at the Congressional hearing in the spring of 2010 where assorted members of Congress lambasted Goldman Sachs’ activity in the run-up to the financial crisis.

But it turns out two members of Congress actually made money from that crisis, according to publicly available documents. During the crisis years, two now-senators, Mark Warner (D-Va.) who was the governor of Virginia until his Senate term began in 2009, and Bob Corker (R-Tenn.), who took office in 2007, were invested in a fund that appears to have made sizable profits from Goldman products that were designed to bet against the real estate market.

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