Keyword: bitcoin

Brevity: Headers | « Text »
  • Argentina's central bank hikes rates to 60% as the currency collapses

    08/30/2018 10:50:10 AM PDT · by Red Badger · 33 replies
    cnbc ^ | 08/30/2018 | Sam Meredith
    Investors are increasingly concerned Latin America's third-largest economy could soon default as it struggles to repay heavy government borrowing. The peso is down more than 45 percent against the greenback this year, exacerbating pre-existing fears over the country's weakening economy and inflation running at 25.4 percent this year. "I know that these tumultuous situations generate anxiety among many of you ... I understand this, and I want you to know I am making all decisions necessary to protect you," Macri said. Argentina is struggling to cope with yet another financial crisis. Investors are increasingly concerned Latin America's third-largest economy could...
  • Venezuela’s Tyranny of Bad Ideas

    08/27/2018 4:31:57 AM PDT · by reaganaut1 · 16 replies
    Wall Street Journal ^ | August 26, 2018 | Daniel Pipes
    Ideas run the world. Good ones create freedom and wealth; bad ones, oppression and poverty. You are not what you eat, but what you think. Politicians in particular fall under the sway of ideas. As John Maynard Keynes put it, “Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back. . . . It is ideas, not vested interests, which are dangerous for good or evil.” The...
  • Iran awaiting European guarantees on oil sales, banking: Zarif

    08/25/2018 11:23:00 AM PDT · by Olog-hai · 6 replies
    Al-Reuters ^ | August 25, 2018 10:32 AM | Babak Dehghanpisheh
    Iran awaiting European guarantees on the sale of Iranian oil and banking relations, Foreign Minister Mohammad Javad Zarif said on Saturday, according to the Iranian Students’ News Agency (ISNA). […] “We are still waiting for Europe to take action on the sale of Iranian oil and the preservation of banking channels,” the Iranian foreign minister said. Zarif also defended the European Union’s decision on Thursday to provide €18 million ($21 million) in aid to Iran to offset the impact of U.S. sanctions, part of efforts to salvage the 2015 deal to limit Tehran’s nuclear ambitions. […] The top U.S. envoy...
  • After the bitcoin boom: hard lessons for cryptocurrency investors (Many are broke)

    08/25/2018 8:28:15 AM PDT · by NRx · 38 replies
    CNBC ^ | 08-20-2018 | Nathaniel Popper and Su-Hyun Lee
    SAN FRANCISCO — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter. Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened. "I got too caught up in the fear of missing out and trying to make a quick buck," he said this week. "The losses have pretty much left me financially ruined." Mr. Roberts, 28, has a lot of company. After the latest round of big price drops, many...
  • Russia, China, Iran pulling away from dollar, euro, in oil trade in bid to undercut U.S. sanctions

    08/23/2018 12:41:22 PM PDT · by SleeperCatcher · 30 replies
    Great Power War ^ | 8/22/18 | USA Featurs
    As the Trump administration tightens sanctions against Iran and Russia, and as the imposition of tariffs against China as a means of negotiating a more favorable trade arrangement continue, all three nations are moving away from the U.S. dollar primarily when it comes to oil sales, as a way of circumventing the punitive measures. “There is a common understanding that we need to move towards the use of national currencies in our settlements. There is a need for this, as well as the wish of the parties,” Russian Energy Minister Aleksandr Novak said earlier this month when discussing the move....
  • Venezuela 'paralysed' by launch of sovereign bolivar currency

    08/21/2018 5:03:49 PM PDT · by Libloather · 30 replies
    BBC ^ | 8/21/18
    Venezuela came to a standstill on Tuesday as the country tried to deal with its newly introduced currency. Thousands of businesses closed in order to adapt to the "sovereign bolivar", and many workers stayed at home. President Nicolás Maduro launched the new banknotes on Monday, revaluing and renaming the old bolivar currency. The government says this will tackle runaway inflation, but critics say it could make the crisis worse. The notes went into circulation on Tuesday.
  • This floating ‘utopia’ will have its own government and cryptocurrency by 2022

    07/09/2018 9:29:16 AM PDT · by qaz123 · 40 replies
    The Sun ^ | 6th July 2018 | Saqib Shah
    THE WORLD'S first floating city will boast its own government and cryptocurrency when it lays roots in the South Pacific in 2022, claim its backers. Building work on this isolated "utopia" will begin next year following the signing of an agreement with French Polynesia's government in 2017. The floating town is the brainchild of the Seasteading Institute, a non-profit co-founded by tech billionaire Peter Thiel (who sits on Facebook's board and is a former adviser to US President Donald Trump). It's teaming up with a private entity called Blue Frontiers to build 300 houses on a seaborne platform off the...
  • Venezuela says it is refining gold in Turkey following sanctions

    07/29/2018 10:27:50 AM PDT · by ameribbean expat · 25 replies
    CARACAS, July 18 (Reuters) - Venezuela’s central bank this year began refining gold in Turkey following a wave of international sanctions that have left it unwilling to carry out such operations in Switzerland, the country’s mining minister said on Wednesday. The central bank for several years has been buying gold from small miners in the south of the country and refining it to be used as monetary gold to shore up its international reserves that have tumbled as the country’s socialist economy implodes. “This is an agreement established with Turkey and the Venezuelan central bank,” said Victor Cano in a...
  • Buried news:Colombia's poor rejected socialism...time, out of a credible fear of 'another Venezuela'

    06/19/2018 4:55:25 AM PDT · by simpson96 · 8 replies
    American Thinker ^ | 6/19/2018 | Monica Showalter
    Sunday's election of a hard-core conservative in Colombia has left the media elites and their pundits befuddled. Some are calling Ivan Duque, the 41-year-old new conservative president-elect a 'populist' as if to suggest that both President Trump and the late unlamented Venezuelan strongman, Hugo Chavez, are all dreadful peas in the same pod. Others are speculating that Colombia elected another Emmanuel Macron, as if France's youthful, namby-pamby president amounted to a comparable sea change that this election represents. We heard of the new president summed up as 'pro-business' by the Wall Street Journal, as if that was all he meant...
  • Colombia asked Trump to urge end to Russian support for Venezuela

    07/21/2018 7:24:23 AM PDT · by CondoleezzaProtege · 7 replies
    Colombia Reports ^ | July 16, 2018 | Adriaan Alsema
    Colombia’s President Juan Manuel Santos asked his American counterpart Donald Trump to urge Russian leader Vladimir Putin to stop supporting Venezuela’s government. Santos took to Twitter on Saturday to ask Trump to address Russia’s support for the authoritarian government of Venezuelan President Nicolas Maduro. The governments of both Colombia and the United States fiercely oppose Maduro. Russia, however, has been accused of helping Venezuela evade sanctions imposed by Washington DC. Furthermore, Venezuela’s military appears to have received thousands of Russian surface-to-air missiles, according to news agency Reuters. “To contribute to the crisis in Venezuela I am asking President Trump to...
  • Venezuela pegging its economic recovery to a cryptocurrency that’s widely considered a scam

    08/20/2018 10:09:35 AM PDT · by NRx · 65 replies
    CNBC ^ | 08-20-2018 | Kate Rooney
    Venezuela is doing something completely unprecedented. Some even say illegal. As part of an attempt to stop skyrocketing inflation, the country is issuing a new fiat currency called the "sovereign bolivar," which will be backed by a cryptocurrency. But that cryptocurrency, called the "petro," does not trade, and Venezuela's own parliament says it's being illegally used to mortgage the nation's cash-strapped oil reserves. "This is a smoke-and-mirrors operation typical of Venezuela — I'll believe it when I see it," said Steve Hanke, professor of applied economics at Johns Hopkins University and one of the world's leading experts on hyperinflation. "The...
  • Korea’s Largest Cities Want to Become Crypto Capitals, Market Optimistic

    08/19/2018 10:35:20 PM PDT · by 2ndDivisionVet · 1 replies
    News BTC ^ | August 16, 2018 | Joseph Young
    Following the release of a new regulatory framework for crypto businesses and blockchain projects, major cities in South Korea have started to build regional policies to fuel the growth of cryptocurrency-related companies. Country’s Second Biggest City Wants to be Like Zug This month, Oh Keo-don, the mayor of Busan, the second largest city in South Korea behind Seoul from the country’s ruling party, has stated that the regional government of Busan is focused on building the next “Crypto Valley” of the world in South Korea, inspired by the success of Zug, Switzerland. Mayor Oh emphasized that Zug already has more...
  • Turkey’s Lira Currency Crumbles as Trump Turns the Screws After Erdogan Double-Cross

    08/13/2018 6:16:56 AM PDT · by Hojczyk · 34 replies
    Breitbart ^ | August 12,2018 | John J. Xenakis
    Trump met Erdogan at a Nato meeting early in June. Their discussions were very friendly, and after they ended, Trump thought they had made a deal: Trump would ask Israel’s prime minister Benjamin Netanyahu to release a Turkish citizen, Ebru Ozkan, arrested because of alleged terrorist links to Hamas, and then Turkey would release pastor Andrew Brunson, who was arrested in Turkey on October 2016 on charges of espionage, which the US considers are bogus charges. So on July 14, Trump called Netanyahu and requested that Ozkan be released, and she was released the next day. But Brunson was not...
  • Payment seen unlikely on $1.1 billion in maturing Venezuela bonds

    08/16/2018 5:38:41 AM PDT · by C19fan · 16 replies
    Reuters ^ | August 15, 2018 | Rodrigo Campos, and Brian Ellsworth
    Venezuela faces payments of $1.1 billion in interest and principal on two bonds maturing on Wednesday, but investors expect the cash-strapped nation to continue its pattern of no payments. The government of President Nicolas Maduro has halted almost all foreign debt payments, leaving Venezuela, which has a debt load of around $60 billion in direct and subsidiary foreign bonds, in default.
  • UN says an estimated 2.3 million people have fled Venezuela

    08/15/2018 12:10:07 PM PDT · by Navy Patriot · 34 replies
    The Washington Compost ^ | August 14, 2018 | Edith M. Lederer, Associated Presstitute
    An estimated 2.3 million Venezuelans had fled the crisis-wracked country as of June, mainly to Colombia, Ecuador, Peru and Brazil, the United Nations said Tuesday. U.N. spokesman Stephane Dujarric told reporters that those fleeing — about 7 percent of Venezuela’s 32.8 million people — cite lack of food as the main reason for leaving. U.N. humanitarian officials report that 1.3 million of those who fled were “suffering from malnourishment,” he said. Oil-rich Venezuela has been sinking deeper into an economic and political crisis. Hyperinflation and widespread shortages of food and medicine are battering the country, and the International Monetary Fund...
  • U.S. Judge May Have Just Given Freedom to Venezuela

    08/13/2018 1:36:11 AM PDT · by Enterprise · 27 replies
    https://www.opslens.com ^ | AUGUST 10, 2018 | JOEL FREWA
    Once the inevitable collapse of Citgo happens, the ruling drug cartel in Venezuela will inevitably enter it’s final phase. Today, Venezuela is unable to refine oil into gasoline, so in turn it is purchased from Citgo and all but given away for domestic consumption. This has given rise to a vast network of gasoline smuggling, often by the military itself, which steals the gasoline in transit then sells it in other nations for a huge profit while remaining well under the market price. Gasoline is so cheap in Venezuela, one can purchase around 875,000 gallons of 87 octane for $1....
  • U.S. judge authorizes seizure of Venezuela’s Citgo

    08/10/2018 2:13:31 PM PDT · by Hugin · 33 replies
    MarketWatch ^ | Aug 10, 2018
    A U.S. federal judge authorized the seizure of Citgo Petroleum Corp. to satisfy a Venezuelan government debt, a ruling that could set off a scramble among Venezuela’s many unpaid creditors to wrest control of its only obviously seizable U.S. asset.
  • In Venezuela's hospitals, eat at your own risk

    08/08/2018 5:37:36 AM PDT · by CodeJockey · 16 replies
    AFP ^ | August 8, 2018 | Juan BARRETO
    Hardly anybody likes hospital food but in Venezuela, it's so awful -- monotonous, starchy diets cooked in filthy conditions, and newborns fed intravenous solution for lack of baby formula -- that experts call it an actual health risk.
  • A military coup in Venezuela could pave the way to democracy, or to a Russian/Chinese protectorate

    08/16/2018 2:57:23 PM PDT · by CondoleezzaProtege · 33 replies
    Miami Herald ^ | May 2018 | Andres Oppenheimer
    Trump administration officials have made thinly veiled calls for a military coup that would topple the Venezuelan dictatorship and pave the way for democracy. But some well-respected academics are warning that a military coup would more likely produce a Russia or China-backed anti-American dictatorship. Evan Ellis, a Latin America expert with the U.S. Army War College’s Strategic Studies Institute, and Brian Fonseca, a professor at Florida International University who has written extensively about the Venezuelan military, are among those who believe that a military coup in Venezuela would probably lead to a pro-Russian or pro-China regime, rather than to a...
  • Hospitals scrap surgeries, Venezuelans forgo showers as taps run dry

    08/16/2018 10:24:34 AM PDT · by C19fan · 46 replies
    Reuters ^ | August 15, 2018 | Andreina Aponte
    At one of Caracas’ biggest public hospitals, most bathrooms are closed. Patients fill jugs from a tiny tap on the ground floor that sometimes has a trickle of water. Operations are postponed or canceled. The Central Venezuelan University hospital, once a Latin American leader, is reeling as taps run dry.