Libertarian Sheep: Made to Be Sheared by Bitcoin

Written by Gary North on December 5, 2013

This week, a perfectly named Bitcoin market called Sheep Marketplace went down, taking $100 million of the sheep’s Bitcoins with it. It announced this. Sheep is down We are sorry to say, but we were robbed on Saturday 11/21/2013 by vendor EBOOK101. This vendor found bug in system and stole 5400 BTC — your money, […]

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Free at Last! Detroit Stiffs the Municipal Unions.

Written by Gary North on December 4, 2013

A judge has upheld the bankruptcy of Detroit. In one fell swoop, the taxpayers of Detroit have freed themselves from the economic burden of the retirement and health programs that had been promised to municipal union members. For decades, the liberal political establishment had bought votes from the unions. They had signed agreements guaranteed to […]

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State Department’s Bar Tab: $415,000 a Year

Posted on December 4, 2013

While the rest of the government prepared to shut down this fall, the State Department was busy stocking up on embassy liquor supplies. In September, the final month of the fiscal year, the State Department spent about $180,000 — and racked up a total of more than $400,000 for the whole year, three times the […]

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Bitcoins for the Average Joe: Utterly Incoherent

Written by Gary North on December 4, 2013

I am in marketing. I have made a lot of money in marketing. Here is a rule in marketing: if you cannot explain your offer in language understandable by the buyer, you will not make a sale. Here is a video on how the Bitcoins system works. Watch it until you cannot follow it. This […]

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Digital Tulips: The Bitcoin Mania

Written by Gary North on December 3, 2013

In 1637, the tulip bulb investment mania peaked in Holland. It had made some people rich. Now it was about to make others poor. Bulb prices rose steadily throughout the 1630s, as ever more speculators wedged into the market. Weavers and farmers mortgaged whatever they could to raise cash to begin trading. In 1633, a […]

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Bitcoins: The Road to Investment Hell

Written by Gary North on December 3, 2013

Recently, the Economic Policy Journal ran an article, “Is Bitcoin Money: What Economists Have to Say.” The editor asked a dozen economists. Two said “yes, Bitcoins are money.” Here is the answer of one of the “yes” economists. Yes. Bitcoin is money because it is limited in amount by internal characteristics enforced by the laws […]

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Small Banks Disappear. So Do Loans to Small Businesses.

Written by Gary North on December 3, 2013

The number of banks is down to just under 6,900. There were 7,000 a year ago. Banking regulation adds to costs. This wipes out small banks. It subsidizes big banks. Which banks caused the crisis of 2008? Large banks. Which banks got the lion’s share of the bailouts from Congress and the Federal Reserve? The […]

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