Posts Tagged Federal Reserve
Gold and silver were good.
Then came money…
Then came the Federal Reserve and stuffed it up.
Then we had credit cards.
Now we have bitcoins.
Bitcoin virtual currency can now be used to pay for pizza
Pizza can now be bought using the bitcoin virtual currency.
The Pizza for Coins service has been set up by two programmers as a way to boost use of the digital cash.
The service acts as a middleman and converts bitcoins into US dollars that are used to pay for food. It charges a small fee to do the currency exchange.
Paying via bitcoins can also delay an order, warn the site owners, saying the conversion can mean pizza takes up to 80 minutes to be delivered.
While orders for pizza are placed on the Pizza for Coins site, once payment is made they are funnelled to the website of Domino’s pizza to be made and delivered. Links to other pizza companies, such as Pizza Hut and Papa John, would be added soon, said programmers Matt Burkinshaw and Riley Alexander in an explanatory note on the site.
The site, which only works with US addresses, currently offers a limited range of pizzas and toppings. A medium pizza with two toppings costs about 0.71 bitcoins (£12).
Paying via the digital currency also adds a 0.09 bitcoin (£1.50) premium to the price of a pizza to convert the digital money to real dollars. The service’s owners said this conversion charge might change as exchange rates for bitcoins had fluctuated widely. If the service proved successful, charges would be reduced, said its creators.
Bitcoins first appeared in 2009 and are closely linked to the global network of computers that supports the currency and its users. Many people generate or “mine” the coins by participating in that network and a growing number of web stores and online firms accept bitcoins as payment.
They have become a very widely used alternative payments system and one bitcoin is currently worth about £17 ($26).
From every corner of the globe, the news is bad. The world’s financial situation is in a sad sorry state.
On the European side, the Greeks are in deep shit. There is no way out of the hole they have dug for themselves. This latest ‘bailout’ is a waste of time and effort, and more Euros. In two months they will be doing the Oliver Twist again, “Please Sir, can I have some more?”
Portugal, Spain and Italy will be doing the Oliver Twist too. It’s a dance fad that will spread.
The Americans are the biggest financial joke on the planet. The only reason that the American economy hasn’t collapsed already is that fool Bernake and his printing presses; he has managed to stave off the inevitable, but when it comes, it will be harder and faster than before.
Every hiccough or burp in the markets and the Americans are shouting “The recovery has begun!”…. again. Read my lips, “There is no recovery!” There never has been and there never will be. Since the first bubble burst in 2008, that sealed the fate of the USA.
When it comes to squandering, the USA makes the others look like petty thieves.
Daily, we get new headlines:
Japan watchdog halts fund on fears over lost assets
Japan’s financial watchdog has told an investment firm to halt its operations on suspicion that it has lost most of the $2.3bn (£1.5bn) funds it manages.
Operations at AIJ Investment Advisors, which manages group pension funds for more than a hundred firms, have been suspended for a month.
It came after reports in Japan alleged that the firm may have covered up losses for years.
Authorities said they would also probe all other investment firms in Japan.
“The Financial Services Agency (FSA), together with the labour ministry, will take every possible step to prevent this kind of incident from happening again,” said Shozaburo Jimi, the head of the FSA.
The report has taken analysts and industry watchers by surprise.
“It is very difficult to understand how they were able to hide all these losses,” Yuuki Sakurai of Fukuko Capital Management told the BBC.
Source: BBC News Read more
It just doesn’t stop.
This follows the recent news; The Japanese firm Olympus admitted that it hid $1.7bn in losses for as long as 20 years.
The rot has been around a long time, we are just catching up with the play, for the Americans it started in 1913 with the creation of the Federal Reserve, then got worse in 1971 and has been worsening ever since fueled by America’s golden spending years. Spending… they should have been saving.
The collapse has started, in fact it is well on the way. There is nothing that you nor I nor Obama and every Repugnican and Democrap on the planet can do about it. We will pay.
So, what’s the answer?
Let’s start another war so the mainstream media can take people’s minds off the problem and think the world is rosy.
$9,000,000,000,000 MISSING From The Federal Reserve!!!
“Rep. Alan Grayson questions the FED inspector General where $9 TRillion dollars went… and General Elizabeth Coleman hasn’t a clue… END THE FED!”
“There are times when one would like to hang the whole human race, and finish the farce.”
– Mark Twain, 1871
Everybody who’s anybody is making predictions these days, why not somebody who is nobody?
All this information has been gleaned from the news and happenings around the world tempered with my own thoughts. It makes dismal reading, especially when you consider that this is all possible this year.
2011 was a disaster, actually every year since 2007 has been; but will look like a picnic after 2012 is done.
2012 is going to have some radical changes. I have no good news.
:: The climate: Worsening, floods will be bigger, storms, monsoons, tornadoes and hurricanes will become more furious; temperature extremes greater, hotter will get hotter, colder will get colder. The aurgument as to whether it is man’s fault is now irrelevent.
:: Natural disasters: Earthquakes and volcanoes more frequent and more violent.
:: Radio, telephone and internet services, and probably power, will be affected by solar activity as the sun nears its 11 year cycle in 2013.
:: Europe will implode financially, as a result hyper inflation will hit the USA. The Euro is in imminent danger of total collapse.
:: The Chinese renminbi becomes the world currency.
:: The American elections will be cast in doubt and have similar problems to the 2011 Russian election.
:: Iran will foolishly and pigheadedly close the Hormuz Straight, igniting the region.
:: The Syria problem hasn’t been settled and sides with Iran.
:: The US will retaliate, within 24 hours Israel will cease to be.
:: Great Britain will be drawn into the conflict as well as various European nations.
:: The US will lose the Iran offensive and will retreat like a whipped puppy with its forces in tatters; you cannot fight religious zealots.
:: Further sectarian violence will explode across the globe as extremist groups vie for control.
:: China will try to control the South China Sea region, with the possibility of war against the Philippines, Vietnam, Malaysia and Indonesia. With the rest of the world already occupied they know it is their chance for survival, especially in the oil stakes.
:: Occupy Wall Street movement will cross the US like a tidal wave as the population wake up from the American dream.
:: The first public hangings in the USA will begin, ironically, in Zucotti Park as the US sinks into the financial mire. No need to say who will be hung.
:: The Federal Reserve and probably Washington D.C. will be surrounded by a million unhappy Americans, none will escape alive.
:: The government will call on military, police and reserves to try to contain the restive and FEMA Camps will be filled, the inmates will ‘just disappear’ as more and more are incarcerated.
:: Occupy Wall Street becomes a civil war as the people see the true intent behind the Patriot and National Defence Acts. The American people will see the American Spring as hundreds of thousands take to the streets and mean business.
:: With the US forces concentrated overseas and at home, there will be no gasoline, food shortages and production will shut down.
:: The possibility of a bloodbath like America has never seen before, nor anticipated, will have begun. The wick was lit years ago and has been smouldering, sputtering for decades and it is now close to the explosives. Watch for the BANG!
:: Americans will flee the cities to escape the violence and find food. This will pit Americans against Americans and it will be a matter of the survival of the fittest.
:: Countries like Brazil are in the best position to survive, although the global events will still take their toll.
:: Good news, the chances of the world being struck by an errant object from space remains as remote as ever, but not impossible.
After reading the The Borowitz Report I was bemused by this paragraph…
“Homeland Security spokesman Harland Dorinson said that the Department did not want to alarm the American people, “but whenever you have a group of individuals threatening to dismantle the US government piece by piece, it has to be taken seriously.””
The red is mine, because it is that that I want to address.
If this really is the case, why aren’t Bernake and the Federal Reserve, bankers and Wall Street all in prison awaiting execution?