OT: Ray, how's your Bitcoin investment going?

[fuzzalow]

Originally Posted by akelman

Even still, I want to be clear that I wasn't accusing Ray of antisemitism. I was suggesting that his hatred of the Fed seemed to be blinding him to the implications of the lousy rhetorical company he was keeping.

Yes, I know you were not accusing AR of antisemitism. No worries.

It just seemed that with some of mini pile-on going on against AR's anti-FRNs rhetoric, there was a desperate attempt to strengthen the case against AR by besmirching his argument in suggesting an overtone of antisemitism. And in fairness, AR's use of certain quotations just might leave the door ajar to opportune an accusation of antisemitism.

To get back on point to the Fed Reserve topic:

I read the catechism for anti-Fed Reserve dogma in the book "The Creature from Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin. The key movers and shakers in the creation of the Fed were J.P. Morgan and Senator Nelson Aldrich. I do not know of Aldrich's religious affiliation but J.P. Morgan was a prominent Episcopalian. So the ire might be better directed not at the ethnicity of the Rothschild's but attributed to "The Protestant Ethic and the Spirit of Capitalism" as studied and rationalized by Max Weber.

[slidey]

Originally Posted by fuzzalow

So the ire might be better directed not at the ethnicity of the Rothschild's but attributed to "The Protestant Ethic and the Spirit of Capitalism" as studied and rationalized by Max Weber.

The Church of England has been on the case for a while now, and more recently the Pope man has taken it up as well.

And if we're not restricting ourselves to the nether regions of mankind i.e. religion, then the opposing idea has been an equally unfortunate radical opposite i.e. communism. The unwillingness of the serpents in power (the politicians) to tread the middle path is more of a statement about the power of these extremists in each of our societies to sway political action, or inaction as the case may be, in their direction. However, from my minimal understanding I get the feeling that Venezuela under Chavismo economics has done reasonably well. Any thoughts on this?

[Louis]

Originally Posted by slidey

However, from my minimal understanding I get the feeling that Venezuela under Chavismo economics has done reasonably well. Any thoughts on this?

Having a massive amount of a super-valuable commodity like oil allows them to get away with quite a few questionable policies. On the other hand, all the folks that are beneficiaries of Venezuelan government charity (oil at cut-rate prices internationally, and staples at reduced prices for the less well of locally) do appreciate it.

Regarding Venezuela as a whole, the story's not yet complete. Time will tell, much as it will in Cuba.

[malcolm]

Originally Posted by Louis

Having a massive amount of a super-valuable commodity like oil allows them to get away with quite a few questionable policies. On the other hand, all the folks that are beneficiaries of Venezuelan government charity (oil at cut-rate prices internationally, and staples at reduced prices for the less well of locally) do appreciate it.

Regarding Venezuela as a whole, the story's not yet complete. Time will tell, much as it will in Cuba.

How much time? I've not seen much of a standard of living in either country.

[Louis]

Originally Posted by malcolm

How much time? I've not seen much of a standard of living in either country.

Might not be much: Venezuela has an election coming up soon - we'll see how Maduro and Co. do.

[fuzzalow]

Originally Posted by slidey

The Church of England has been on the case for a while now, and more recently the Pope man has taken it up as well.

I don't know what you are referring to as "on the case". If you mean a general denouncement of antisemitism, that's all well and good but a mistaken inference to what I posted.

What I was referring to with respect to the origins of the Federal Reserve was that the progenitors of the Fed were goyem. Antisemitism was never an appropriate slur to bring into the discussion in erroneously suggesting a Semitic underpinning on the true intent in creating the Fed.

And if we're not restricting ourselves to the nether regions of mankind i.e. religion, then the opposing idea has been an equally unfortunate radical opposite i.e. communism. The unwillingness of the serpents in power (the politicians) to tread the middle path is more of a statement about the power of these extremists in each of our societies to sway political action, or inaction as the case may be, in their direction. However, from my minimal understanding I get the feeling that Venezuela under Chavismo economics has done reasonably well. Any thoughts on this?

Whoa, there is no intent in my mentioning Weber's book to get into an "efficacies of capitalism" debate. BTW Weber was a sociologist, not an economist.

Originally Posted by Louis

Having a massive amount of a super-valuable commodity like oil allows them to get away with quite a few questionable policies. On the other hand, all the folks that are beneficiaries of Venezuelan government charity (oil at cut-rate prices internationally, and staples at reduced prices for the less well of locally) do appreciate it.

Oil is subject to world-wide demand and price fluctuations. There was no permanent order for the world economy to be reestablished at $110 per barrel crude oil. Crude is currently priced in the mid-$90 range. Brazil, Venezuela and Russia have all suffered contractions to their domestic growth rates as crude oil prices have lowered in world markets.

A nations oil wealth is not a panacea for national stability. I don't follow the political current events in Venezuela or Brazil but temporary buyouts from the government dole will not eliminate unrest if there is societal & political repression sanctioned by their governments. One need not look any further than the situation in Saudi Arabia to evidence stagnation, unrest & internal pressures in maintaining a repressive society subsisted by oil wealth. The only acknowledged, normally functioning segment in modern Saudi society is within the confines of Aramco, the state run oil conglomerate. For everyone else there is a life in the shadow of the state security police, the religious police and the denial of personal initiative.

[slidey]

Na, not at all. By 'on the case' I was referring to speaking out against capitalism.

Originally Posted by fuzzalow

I don't know what you are referring to as "on the case". If you mean a general denouncement of antisemitism, that's all well and good but a mistaken inference to what I posted.

[fuzzalow]

Originally Posted by slidey

Na, not at all. By 'on the case' I was referring to speaking out against capitalism.

OK, now understand your reference. But you are misquoting what the Pontiff spoke out against. Pope Francis was speaking against unfettered capitalism and its supportive structure in fostering economic inequality. That is quite a difference from speaking out against capitalism.

I agree with what was said by the Pontiff. Nothing greater to unleash the human endeavor than capitalism, however rapacious if left unchecked.

[#campyuserftw]

Originally Posted by fuzzalow

OK, now understand your reference. But you are misquoting what the Pontiff spoke out against. Pope Francis was speaking against unfettered capitalism and its supportive structure in fostering economic inequality. That is quite a difference from speaking out against capitalism.

I agree with what was said by the Pontiff. Nothing greater to unleash the human endeavor than capitalism, however rapacious if left unchecked.

The yang to Pope Francis:

http://www.forbes.com/sites/louiswoo...or-capitalism/

[fuzzalow]

Originally Posted by #campyuserftw

The yang to Pope Francis:

http://www.forbes.com/sites/louiswoo...or-capitalism/

Yeah, I read that too. There are lies, damned lies and statistics.

I agree with the Pontiff but short of his governance over the sovereign Vatican, I won't feel threatened that this could come to fruition at a local government near you. I would never deny the Roman Catholic Church its stature as a political power along with all the contradictions that entail with it also being a moral authority.

[slidey]

True, true. Couldn't agree more...unfettered capitalism is the extremist view of capitalism I was referring to my initial post in this recent thread as well. As a rule, one of the few I have, I believe that anything extreme can only be bad.

We're on the same page then.

Originally Posted by fuzzalow

OK, now understand your reference. But you are misquoting what the Pontiff spoke out against. Pope Francis was speaking against unfettered capitalism and its supportive structure in fostering economic inequality. That is quite a difference from speaking out against capitalism.

I agree with what was said by the Pontiff. Nothing greater to unleash the human endeavor than capitalism, however rapacious if left unchecked.

[wildboar]

This is pretty fun to watch during normal weekday cash hours:

http://bitcoin.clarkmoody.com/

[azrider]

http://money.cnn.com/2014/01/27/tech...html?hpt=hp_t2

[ultraman6970]

Money laundry is the main reason all the drug cartels and stuff are using bitcoin, no surprises in this news.

What could be really bad news for everybody that has money invested in bitcoin is if globally the currency is by law taken down and that could be a nasty hit to the drug people because from one day to another they could lost zillions together with the honest investors.

The coin is in place and doubt governments just because of personal interests in play, bitcoin will disappear from one day to another.

[sg8357]

Originally Posted by ultraman6970

Money laundry is the main reason all the drug cartels and stuff are using bitcoin, no surprises in this news.

[tinfoil hat mode on]
Why would any drug cartel trust it's funds to a US government operated
payment system ?

https://wallet.bitcoin.nsa.gov anyone ?
[tinfoil hat mode off]