Free Republic

Mark Carney, the Bank of England governor, has said that the world’s reliance on the US dollar “won’t hold” and needs to be replaced by a new international monetary and financial system based on many more global currencies.

Former president conquers 'wealth anxiety' Celebrity authors Barack and Michelle Obama are striking a blow for social, economic, and climate justice, vowing to donate an undisclosed eight-figure sum to Boston Celtics owner Wyc Grousbeck in exchange for his massive beachfront estate on Martha's Vineyard, the luxury island vacation spot popular with Northeastern elites, boat-shoed bon vivants, and other rich freaks who use "summer" as a verb and donate to Pete Buttigieg. The 29-acre property, which includes a 7,000-square-foot main house with seven bedrooms, nine bathrooms, and two guest wings, is listed at $14.85 million—well within the Obamas' price range after...

A new study by the non-partisan RAND Corporation helps explain why it’s going to be difficult, if not impossible, to ever stop the illicit drug trade: It’s worth tens of billions of dollars per year. Researchers at the think tank wrote in their report that illegal narcotics generate some $150 billion annually, or as much as the amusement and gambling industry generated in 2016. The exhaustive analysis of drug use and spending data contained in the report indicates that there are about 30 million chronic drug users in the U.S. alone as of 2016, with major increases in the number...

As a result, new stadiums are shrinking. In a piece for USA Today, sports writer Gabe Lacques noted the falling attendance of several MLB teams.

If you’ve been gleaning financial headlines, you may be asking, what is this “inversion of the yield curve” thing and why is it so scary? An inverted yield curve marks a point on a chart where short-term investments in U.S. Treasury bonds pay more than long-term ones. When they flip, or invert, it’s widely regarded as a bad sign for the economy. Getting more interest for a short-term than a long-term investment appears to make zero economic sense. Go to any bank and you will likely get a lower interest rate on a 6-month CD than you would on a...

A history of money, banking, bonds, stocks, insurance, mortgages/real estate and etc. Appx 4 hrs.

Bartender at the local joint up the street showed me this had been passed to them sometime this week. A Google news search ("counterfeit $100 bill") shows dozens of recent articles about these things. Seems to be pretty easy to detect, mainly by the feel of the paper and of course the Chinese (or whatever) markings. Also notice the "stripe" is printed and not glossy, the "ghost" image is missing, etc. Banks are notoriously unsympathetic, and maybe even the local lawmen. Just a note to FReepers to be aware.

RUSH: We’ll get to the Democrats in a minute. Yeah, I watched it. And, folks, I have to tell you, I sit there and I watch this stuff and I alternately laugh, sometimes uproariously, other times I’m incredulous. I cannot believe it. And then I catch myself and I have to tell myself that 30% of this country believes this garbage that they’re hearing. And that sobers you up. So we’ll get to all of this in a minute. Now, a lot of people have, without credit, of course, picked up on my observation yesterday that Trump could end up...

Roman poet Virgil penned these words in his epic, The Aeneid, roughly a generation before the birth of Jesus of Nazareth. They can be loosely translated to, “the descent to hell is easy.” Those who’ve traversed this passage can attest to the veracity of this axiom. Though not apparent in the milieu of Virgil’s poem, for our purposes today, we’ll extend its application to the insidious progression of currency debasement. What short utterance more aptly characterizes the steady degradation, as currently practiced by today’s church of state? Yesterday [Thursday], for example, the House acted with untroubled ease to further America’s...

Free money. Sounds great, right?However just as it is as devious when you see the offer in a misspelled spam email from a supposed foreign price or elderly estate-owner so is it with public policy.Universal Basic Income (UBI) is the idea of giving out to every American a set amount of money every so often with little to no strings attached. It is meant to address the transformational economic changes that have come about as a result of technological advancements and automation across nearly every industry and which are expected to only continue.While an old idea, and with various theorists...

Mark Bloomfield, 54, died in the hospital after an assault on July 18, at the Full Moon Public House. South Wales Police believe the incident happened between 11:30 a.m. and 3:15 p.m., and are looking for witnesses both inside and outside the pub. Colin Thomas Payne, 61, is currently in custody, charged with causing grievous bodily harm. Two other people, a 21-year-old man and 50-year-old woman were previously arrested in connection with the incident, though they have been released. However, the two people are still under investigation. In a statement released by South Wales Police, Bloomfield's family said he "had...

Today, 75 years after Bretton Woods, we are entering the next era of money. Thanks to new technologies like the Internet and blockchain, we now have globally scalable ways of "stamping" and transferring digital assets, or tokens, with widespread, provable legitimacy—the kind that has the power to create networks of belief on which all money depends. This is Money 3.0, in which money comes from people. Money is now programmable, like software, and can be designed according to any criteria. Imagine a currency that is programmed to pay its taxes, bit by bit, with every transaction. Imagine a currency programmed...

Gustaf can remember the precise date when he last used cash. 'It was October 7 last year,' he told me without hesitancy. 'I found an old note that I had forgotten about and used it to buy some sweets.' Like many others at his university in Gothenburg, Sweden, Gustaf relies on cards and smartphones to spend money. 'None of us use cash – you just don't need it these days,' he said. Card only: Sweden has become a cashless society so shoppers have switched to cards and smartphones But there is one problem – a big one. The 20-year-old computer...

Money does not grow on trees: "Sure it does," replied AOC confidently, "we have hundreds of trillions of trees. We simply cut them down, make wood pulp, print paper money, Government can afford anything. You just do not understand economics When Alexandria Occasionally-Coherent wants to create news, she calls for a press conference. But when she wants to grab a headline she does what every smart politician does—she calls ace reporter Hugh Betcha of the mighty Canada Free Press. Hugh, who walks with kings and princes, is widely respected on both sides of the aisle in Washington, and recently won...

My promises to you are "Yes and Amen" I AM your Sustainer and not man. Come to Me in your time of need for I AM A Loving God visiting My Blessings upon the righteous that call upon My name. I AM Lord God, King your Yahweh and Messiah. All there is to fill your cup is to Believe and Declare for such was the Faith of The Centurion and I have placed this Faith in YOU ! My Shalom(PEACE) IS yours AS YOU Speak Peace to each storm in your life. . . Guard your Heart with Loving Kindness...

(Reuters) - The U.S. Justice Department is investigating whether Deutsche Bank AG violated foreign corruption or anti-money-laundering laws in its work for state fund 1Malaysia Development Berhad (1MDB), the Wall Street Journal said on Wednesday. The news comes after the bank announced plans to scrap its global equities unit, cut some fixed-income operations and slash 18,000 jobs globally in a 7.4-billion-euro ($8.34 billion) restructuring program. Deutsche Bank's work for 1MDB included helping to raise $1.2 billion in 2014 as concerns about the fund's management and financials had begun to circulate, the newspaper said, citing unidentified people familiar with the matter....

I am perennially asked whether I do or do not “believe” in autism. I suspect that on most occasions, it’s a test. Nonetheless, it’s a fair question that usually takes this form: “I know you don’t believe in ADHD; but do you believe in autism?” To be clear, it would be absurd of me to deny that there are children – plenty of them, relatively speaking – who frequently exhibit behaviors associated with the bogus diagnosis of ADHD (attention deficit-hyperactivity disorder). Those kids are problematic, for sure. But no one has ever proven that they “have” something. Childhood behavior disorders...

After border patrol agents in Puerto Rico chased after a boat on Sunday, they found five duffel bags stuffed with $3.7 million in cash. US Customs and Border Protection agents, along with the DEA, made the seizure after tracking the vessel that was traveling without lights from Puerto Rico to the US Virgin Islands. As authorities followed the boat, it made an abrupt turn back toward Fajardo, on the east coast of Puerto Rico, and landed near the Rio Fajardo. Occupants in the vessel could be seen unloading bags, according to the press release. As agents closed in, they fled...

In late April, President Trump and Democratic congressional leaders finally found something they agreed on: infrastructure. Outside the White House after a meeting with the president, House Speaker Nancy Pelosi, the California Democrat, issued the pronouncement, “Big and bold.” Senate Minority Leader Chuck Schumer, the Democrat from New York, echoed the takeaway: “We agreed on a number, which was very, very good, $2 trillion.” Trump himself has been publicly quiet but didn’t dispute that he told the Democrats he “like[s] the number.” By May, this renewed spirit of cooperation had fallen apart, at least temporarily, with a second meeting collapsing...

ISLAMABAD (Reuters) - The International Monetary Fund Executive board gave formal approval on Wednesday to a three-year, $6 billion loan package for Pakistan to rein in mounting debts and stave off a looming balance of payments crisis. Board approval will allow immediate disbursement of around $1 billion, with the remainder to be phased in over the period of the program, subject to quarterly review, the IMF said in a brief statement. It said a full statement would be released later on Wednesday. Prime Minister Imran Khan came to power last August, inheriting an economy plagued with problems but he was...