Blog Archives

Proposed Financial Protocol Standards Could Legitimize Virtual Currencies

Payward Inc, which you might remember as the group behind Ogrr.com, has submitted two draft proposals to the IETF which, if implemented, would form the framework for the legitimization of virtual currencies like Bitcoin, and mark the first steps toward the elimination of the archaic financial framework upon which we currently depend. The first proposal…

How the Poor Are Prospering by Ignoring the State

This is one of the most interesting and startling articles I have read in a long time. In the usual version of events, the poor are helpless victims of capitalist exploitation, and only the wise intervention of the state can improve their condition. The growth of what experts call System D, the unofficial economy that…

U.S. boosts estimate of auto bailout losses to $23.6B

The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.'s steep stock decline. In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33…

Central-Bank Gold Purchases Soar

Total central-bank gold purchases in the third quarter more than doubled from the second quarter and were almost seven times higher than a year earlier as countries continued to diversify reserves, according to a World Gold Council report.

‘Snatch squads’ caught on camera at London student rally

A YouTube video shot during the November 9 student rally in London allegedly shows plainclothes police acting as agents provocateurs among the protesting crowds. The video uploaded by the user “noshockdoc” shows two people who first engage in rough handling of one of the rally protesters. Then, reportedly, the same people are shown along with…