Bitcoin is Money: Treasury Publishes Regulations for Virtual Currencies

March 23, 2013 in News

IEEE Spectrum | The U.S. Department of Treasury has been watching not only Bitcoin, but all virtual currencies. And this week, FinCEN published a list of guidelines intended to help money transmitters who deal in virtual currencies to comply with the Bank Secrecy Act.

Massive National Debt is Steering U.S. Economy into a Death-Spiral

February 25, 2013 in News | At what point does the size of a country’s national debt begin to weigh down the growth potential of its economy?

TARP Pay Czar Patricia Geoghegan Approved Executive Bonuses at Bailed-Out Ally, GM, AIG

January 31, 2013 in News

Huffington Post | Top executives at three major companies that received taxpayer-financed bailouts received excessively generous pay packages last year, in an apparent violation of Treasury guidelines aimed at restricting their compensation…

Boston Prof. Kotlikoff on Fiat Money and Taxation With Misrepresentation

January 23, 2013 in News

Forbes | No doubt, you’ve heard about the latest irresponsible fiscal/monetary proposal to be floated by members of Congress and the erstwhile economist, Paul Krugman, whose lunch was just eaten by Jon Stewart. It entails having the Treasury avoid the federal debt limit…

Fed Official Claims Geithner Leaked Interest Rate Change to Big Banks

January 21, 2013 in News

Reuters | In the summer of 2007, as storm clouds gathered over the world’s financial system, then-New York Federal Reserve President Timothy Geithner allegedly informed the Bank of America and other banks about the possibility the U.S. central bank would lower one of its critical interest rates

Family of Fugitive “Godfather of the Drug World” Joaquin “El Chapo” Guzmán Among the Ranks of Sinaloa Cartel

January 13, 2013 in News

Wired | If there’s one rule to running the mob, it’s to keep your family close. For Joaquin “El Chapo” Guzman, the cocaine kingpin of the Mexican Sinaloa Cartel, he’s kept his family so close to the business that it’s attracted the attention of the U.S. government.

Zombie Nation

January 9, 2013 in News

The Daily Bell | Creating and sustaining a nation of zombies is expensive. Large sections of the US population have been turned into zombies…

The $1 Trillion Platinum Coin Is As Good an Idea As FDR’s Court-Packing

January 7, 2013 in News

National Journal | There’s been lots of talk on the interweb machine about using platinum coins to solve the debt-ceiling crisis. Although it’s almost certainly just the theoretical fun of economics writers, and is extremely unlikely to happen…

Treasury Secretary Tim “The $13.6-Trillion Man” Geithner Makes His Getaway

January 7, 2013 in News

Traces of Reality | Bloomberg reports that Treasury Secretary Timothy F. Geithner will be resigning from his position by the end of January. He leaves after spending trillions of dollars, bailing out his buddies, and thrusting the nation’s economy towards a rapidly-approaching debt ceiling.

Kicking the Can Over the Cliff

January 2, 2013 in News

Taki’s Magazine | Anyone who has two brain cells to rub together for warmth on a cold winter morning knows that this whole “fiscal cliff” debate is nothing more than a petty squabble over tweaking the amount of a terminal cancer patient’s chemo.