Now that Secretary of the Treasury Jacob Lew has confirmed his agency’s decision to replace President Andrew Jackson with black Republican Harriet Tubman on the front of the $20 bill, the Obama administration is looking to place more leaders of the women’s suffrage movement onto the back of the $10 bill and plans to add black civil rights leaders onto the back of the $5 bill.
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Currency
Governments of the World are Coming for Your Cash
Large denomination physical cash is going to be outlawed if central bankers have their way.
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IMF Predicts Saudi Arabia Bankrupt by 2020
The IMF just confirmed Breitbart News’ October 5 warning that Saudi Arabia’s cash reserves are in free-fall, with a new estimate that the world’s richest kingdom may be bankrupt by 2020.
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Short on Money, Greece Brings Back the Barter System
Greeks are getting around what is delicately described as a “liquidity problem”—i.e. no money—by bringing back the barter system. It even has an Information Age twist: a bartering website with its own virtual currency system, and thousands of users.
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China’s ‘Black Monday’ Becomes Everyone’s Stock Market Headache
One of the big problems with allowing an authoritarian communist/crony-capitalist regime to become a world financial leader is that they lie about everything. China’s long-concealed economic woes finally became impossible to hide, and we got a worldwide market panic that sent the Dow Jones down a record-breaking 1089 points in the early hours, before a rally that was itself partially reversed later in the day. As bad as things were on Wall Street, the Chinese markets were worse, with even Beijing’s official news agency adopting the “Black Monday” label. A more clever name is suggested by Reuters: “The Great Fall of China.” “The Shanghai Composite tumbled by 8.5%, its biggest fall since 2007,” reports the BBC. “That plunge wiped out this year’s gains as investors refused to buy into the Chinese government’s repeated attempts to shore up confidence.” While the BBC says “the smart money is on the central bank reducing interest rates
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Number of Argentinian Merchants Accepting Bitcoin Doubles Amid Inflation Concerns
Since last year, the number of bitcoin merchants in Argentina has doubled, according to the Financial Times. This growth comes primarily from small businesses, which are showing the highest bitcoin growth and adoption rate in all of Latin America. Argentina, South America’s second-largest economy, has been restricted from access to foreign currencies and has suffered from an overvaluation of exchange rates, unstable inflation and complicated economic dynamics. This prolonged exposure to economic instability has motivated Argentinian merchants to shift from fiat-based financial platforms to bitcoin to avoid frozen payments which sometimes are locked up for two or more weeks. Argentina has also been a key player behind the rapid growth of monthly bitcoin transactions in Latin America, as more businesses started to accept bitcoin […]
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As Grexit Looms, Greek Island Begins Testing Blockchain-Based Parallel Currency
Perhaps a blockchain-based parallel currency could provide a solution to the Greek crisis and be an alternative for Greece, Forbes reports. Lee Gibson-Grant, founder of U.K.-based digital currency consultancy Coinstructors, recently met with the Mayor of Agistri, an island in Saronic Gulf with a population of around a thousand people. The Mayor has agreed to start testing blockchain technology solutions in the island. The single ATM on Agistri ran out money last week. The project is related to the Drachmae project covered by Bitcon Magazine in May. Proposed by CNBC contributor Brian Kelly, the author of “The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World,” Drachmae is intended as a quick and simple bitcoin-like solution for […]
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36% of Australians Would Trade Banks for Better Digital Money Services
A recent survey conducted by personal finance company Fair Go Finance has found that a large chunk of Australians are ready to leave the traditional banking system and move to digital money. The survey received responses from 3,148 people, and the questions involved everything from bitcoin to Facebook money transfers. The online survey was conducted in April 2015. 34% know about bitcoin Thirty-four percent of Australians who responded to the survey claimed they know something about bitcoin. Of course, the level of understanding of bitcoin is likely to vary from person to person. The question was phrased as, “Do you know anything about Bitcoins?” which means many respondents who had simply heard of bitcoin as some sort of PayPal alternative […]
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