Free Republic

One day before the Senate's digital currency hearing titled "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies", Bitcoin is largely oblivious to any potential regulatory threats, either at the legislative or the city level, where as reported previously the New York superintendent is in a rush to enforce BitLicenses on businesses that accept BitCoin, and moments ago crossed $500 for the first time ever. Instead, it appears that as we also reported previously, the Chinese Bitcoin craze has reached the parabolic threshold, going so far as making Bitcoin an acceptable payment for real estate, which means...

When President Obama nominated Janet Yellen to be the next Chair of the Federal Reserve Board the praise he offered was similar to what had already poured in from around the country. In their assessments of Ms. Yellen's long career, Congressman, editors, and academics have underscored how her prescience and caution distinguish her from the reckless overconfidence that have plagued her male colleagues at the Federal Reserve. As proof of her wisdom supporters have pointed to speeches she delivered in 2005 and 2006 in which she supposedly issued clear warnings about the dangers then building in the frothy real estate...

China has just one thing to say to all those who engage in the now daily slamdowns of gold just around the time of the London fixing, after 8 am Eastern, which lately have gotten so vicious they have resulted in "stop logic" market halts not on one but at least two occasions, keeping the price of gold delightfully low for all those who instead of selling, are looking to buy: "thanks." As the chart below shows, in the past two years since September 2011 (ironically the same month we wrote "Wikileaks Discloses The Reason(s) Behind China's Shadow Gold Buying...

We assume it is a coincidence that on the day in which we demonstrate China's relentless appetite for gold, driven by what we and many others believe is the country's desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China's official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the "US fiscal failure which warrants a de-Americanized world" and flatly states that the world should consider a new reserve currency "that is to be created to replace the dominant U.S. dollar, so that the international...

Police had arrested the leader and more than a dozen senior members of the far-right Golden Dawn party after the killing of an anti-fascist rapper by a party supporter triggered outrage and protests across the country. Reuters reports that the party's leader, spokesman, two other lawmakers and 10 members were arrested on charges of founding a criminal organisation. Police confiscated two guns and a hunting rifle from the home of Mihaloliakos, saying he did not have a license for them. As has been reported previously, Golden Dawn, is under investigation for the murder of Pavlos Fissas, who bled to death...

Cotton, wheat, rice, and now corn. If revised Chinese import estimates by the US Grain Council are even remotely correct, look for corn prices of $6.80 a bushel at last check to jump by at least 15% in a very short amount of time. As the FT reports, "Corn prices – and with them, the price of meat – are set to explode if the latest import estimates from China are correct. The US Grain Council, the industry body, said late on Thursday that it has received information pointing to Chinese imports as high as 9m tonnes in 2011-12, up...

It’s always a good sign for an empire’s fortunes when the commander in chief of the armed forces completely loses the confidence and trust of the troops. While we have all seen various polls demonstrating the general public’s complete opposition to unprovoked military aggression against Syria, I hadn’t seen a survey focused on military members until now. The results are not good for the establishment. From the Military Times: Note: The article quotes the Military Times at this point. The Times is a Gannett publication which we cannot excerpt due to their restrictions. You will have read the article to...

While the investing community this morning is focused squarely on the very disappointing iPhone 5 relaunch and the lack of a cemented China Mobile deal, which has resulted in a $20 billion loss in market cap in early trading for the second most widely held hedge fund stock, a thing that we find more curious in the aftermath of the latest revalations of an implicit, if not explicitly voluntary, joint venture between Apple and the US government and specifically its NSA uberspies, is just how much of Apple's product suite is derived thanks to developments by the US government....

t will likely come as no surprise but the political one-up-manship continues as the Obama White House try to rescue themselves from a face-melting Putin Op-Ed... As Politico reports, WH press secretary Jay Carney stated: “If we were to see a situation unfold where Assad were to give up his chemical weapons to international supervision that would be an enormous accomplishment ... would be due to the decisions made by the Russian leadership but also the decisions made by the United States, by the president, to take the approach he has taken in response to the horrifying use of chemical...

Obama is going on a whirlwind media blitz this week in an attempt to sell a very skeptical public on war with Syria. Yet the Washington Post notes: Obama’s top aide says the administration lacks “irrefutable, beyond-a-reasonable-doubt evidence” that skeptical Americans, including lawmakers who will start voting on military action this week, are seeking. Indeed, those who have seen the evidence say that it is incredibly weak. German intelligence also says that Assad didn’t order the attacks. Moreover, President Obama correctly noted in 2007: The President does not have the power under the Constitution to unilaterally authorize a military attack...

Starting a widely unpopular war which will inevitably escalate and will likely involve Russia and China, not to mention all the countries that neighbor Syria, and at best, result in a regime dominated by Al-Qaeda? No problem. Here are the Senators who voted to push America into the latest middle eastern war: Yoting Yes:Robert Menendez, D-N.J., Barbara Boxer, D-Calif., Ben Cardin, D-Md., Jeanne Shaheen, D-N.H., Chris Coons, D-Del., Dick Durbin, D-Ill. Tim Kaine, D-Va., Bob Corker, R-Tenn., John McCain, R-Ariz, Jeff Flake, R-Ariz. Voting No: Tom Udall, D-N.M., Chris Murphy, D-Conn., James Risch, R-Idaho, Marco Rubio, R-Fla., Rand Paul, R-Ky.,...

[Actual title: Russia, China Urge Respect Of Syrian Sovereignty As UN Finds Only Syrian Rebels Used Chemical Weapon] Following this weekend's explosive escalation in Syria, the big unknown was how Russia and China would respond: the two countries have long been known to be opposed to the US-Israel axis' involvement and intervention in Syria, although they have so far kept their involvement to a minimum. Today we get the answer: "Russia said on Monday it was concerned the chances of foreign military intervention in Syria were growing following reports of Israeli air strikes around Damascus which were a source of...

Yesterday afternoon, Russia agreed to restructure Cyprus' EUR 2.5 billion loan terms to a much more affordable 2.5% semi-annual coupon through 2016 and a principal re-payment over the following four years. While probably still out of reach for the desparate economy, it was a positive step. Of course, this 'offer' by Russia has its quid pro quo. This morning, Foreign Minister Ioannis Kasoulides has stated that Cyprus territory will not be used to launch military strikes against Syria, as "Cyprus wants to live up to its responsibility as a shelter if needed for nationals of friendly countries who evacuate from...

Below is the government's assessment of the "Syrian Government’s Use of Chemical Weapons on August 21, 2013." It is exactly as expected, putting the full blame on Assad. What however is absolutely mindblowing is the following: "We have identified one hundred videos attributed to the attack, many of which show large numbers of bodies exhibiting physical signs consistent with, but not unique to, nerve agent exposure. The reported symptoms of victims included unconsciousness, foaming from the nose and mouth, constricted pupils, rapid heartbeat, and difficulty breathing. Several of the videos show what appear to be numerous fatalities with no visible...

Somehow we doubt that Putin just folded... Sky Sources: Russia to call for urgent meeting of five permanent members of UN Security Council — Sky News Newsdesk (@SkyNewsBreak) August 29, 2013 Some more from BBG: RUSSIA CALLED FOR THE SECURITY COUNCIL MEETING, DIPLOMAT 5 PERMANENT COUNCIL MEMBERS U.K., U.S., FRANCE, CHINA, RUSSIA FIVE PERM. SEC. COUNCIL MEMBERS TO MEET AT 2:30P Hopefully Putin doesn't whip out incontrovertible proof the chemical gas attack was linked to Al Qaeda, Qatar... and the US of course.

Yesterday the Telegraph's Evans-Pritchard [8] dug up a note that we had posted almost a month [9]ago, relating to the "secret" meeting between Saudi Arabia and Russia, in which Saudi's influential intelligence chief Prince Bandar bin Sultan met with Putin and regaled him with gifts, including a multi-billion arms deal and a promise that Saudi is "ready to help Moscow play a bigger role in the Middle East at a time when the United States is disengaging from the region", if only Putin would agree to give up his alliance with Syria's al-Assad and let Syria take over, ostensibly...

As we showed mere days ago, it appears the truth of who the real puppet-master in the Middle-East is becoming plainer to see. The incredibly frank discussion between Saudi's spy-chief Prince Bandar and Russia's Putin exposed a much deeper plot is afoot and the following details from the actual people on the ground in the chemically-attacked region of Syria suggest Obama is playing right into the Saudi's plan. While Obama is 'certain' that the chemical attacks took place on al-Assad's orders, as MPN reports, "from numerous interviews with doctors, Ghouta residents, rebel fighters and their families, a different picture emerges....

<p>In what is as close to saying 'trust us, we're from the government,' as it gets; President Obama's traitor-identifying, blame-pointing, cover-your-assing speech on Friday has done nothing to end the supposedly "critical NSA counter-terrorism tool," from being used on American citizens. People of America should be relieved, as the President stated unequivocally that he is "comfortable that the program is not being abused." If only American citizens were able to see all the moving pieces, Obama implied, they would say "you know what? These [government] folks are following the law," but because the program remains classified, it remains impossible to know what is really going on. Reassuring rhetoric aside, as the AP notes, Obama offered these inspiring words regarding the ongoing concerns that law-abiding citizens may still have beyond his assurances: "I would be worried too, if I weren't inside the government." Another teleprompter-less glimpse of what he really thinks? Perhaps; but for now, the NSA will continue to sweep phone records of all Americans with the possibility of creating similar databases of credit card transactions, hotel records, and Internet searches.</p>

#BreakingNews - Activists: #FSA downs Iranian cargo plane at #Damascus International Airport. #Syria

While the move by the SNB to basically link its currency to the dying Euro was shocking and will send shockwaves throughout the global financial systems for months to come, in many ways it was inevitable. The central planners are still in control and they are getting increasingly desperate. Part of their desperation manifests itself in acts to prevent markets from sending out signals to investors and the general population. This is why Central Bankers print money and buy government bonds. This is why the ECB is buying worthless PIIGS debt. This is why the SNB decided to destroy its...