When one obviously panicked family looking to get out of harms way before contagion spreads and financial Armageddon takes hold attempted to cross into Switzerland, customs agents on the border found much more than they expected.
After questioning the family and inspecting their vehicle police reportedly found one ton of gold hidden in the floor boards.The nearly $50 million in gold was promptly seized by authorities.
But because taking one’s life savings is never enough for government goons whose job is to consider anyone with a pulse a criminal suspect or terrorist, the former owner of the gold is now being investigated by police for money laundering...MORE >>(lewrockwell.com)
Discussion of the digital currency known as Bitcoin is divided into two camps. People who understand the currency well tend to be enthusiastic boosters. Those who are citical of Bitcoin tend not to understand the currency very well and, as a consequence, their criticisms tend to be superficial, misguided, or just plain wrong.
That’s unfortunate because Bitcoin does have some real weaknesses. The lack of knowledgeable critics has created an echo chamber effect that I worry may produce (or may have already produced) a bubble. I’m generally a Bitcoin fan (and, full disclosure, I own some Bitcoins), but in the interest of balance, here are four reasons you should think twice before buying Bitcoins.
Losses. Traditional financial products have strong consumer protections. If someone makes a fraudulent transaction with your credit card or your bank goes belly-up, there are laws in place to limit consumer losses. Bitcoin has no such safety net. If your Bitcoins are lost or stolen, there’s no intermediary with the power to make you whole... >>MORE (Forbes.com)
Online currency bitcoin had 20 percent knocked off its price overnight on Thursday as one of its major exchanges became the victim of a hacking attack leading to a sell-off in the virtual currency after reaching an all-time high.
Uncertainty over other currencies, turmoil in Cyprus and media interest are just some of the reasons commentators are citing for the 360 percent rise in bitcoin prices over the last month. The frenzied interest in bitcoins piled over onto the social media site Twitter and led to a spike in Google searches on the topic.
(Read More: CNBC-What Is Bitcoin?)
But by Thursday morning bitcoin prices had fallen to $132 from Wednesday's record price of $147.
The most popular bitcoin exchange, Tokyo-based Mt.Gox announced overnight that it had been the victim of a hacking attack after experiencing a severe lag with its systems. The complications meant the price quickly sank to below $115 before regaining ground to $130 by 6.00 a.m. London time on Thursday, according to Bitcoincharts.com.... >>MORE(CNBC.com) Bitcoin Wikipedia photo:CASASCIUS
Eric Rauchway Bloomberg.com Mar 21, 2013
On March 4, 1933, Franklin D. Roosevelt became president for the first time, promising an “adequate but sound” currency. The next day, a Sunday, he closed the nation’s banks. “We are now off the gold standard,” he privately declared to a group of advisers. Goldbugs in the president’s circle immediately began prophesying doom. One of his aides, Lewis Douglas, proclaimed “the end of Western civilization.”
How Roosevelt took this fateful step has been the subject of debate among historians, many of whom believe that the president flailed his way through his first weeks in office, and only gradually came to the decision to take the country off gold that April. But the evidence suggests that Roosevelt intended to do so from Day One for very specific reasons, although he delayed letting the rest of the country in on his plans.
Minutes after FDR had made his unsettling private disclosure, a secretary told him that reporters were clamoring to know if the U.S. had left the gold standard. “Tell them to ask a banker,” Roosevelt said. He clearly did not yet wish to say the truth publicly. First, he needed depositors to return the gold they had withdrawn in panic in the weeks preceding his inauguration.
By Tuesday, Americans had begun to bring gold in large quantities back to the banks. Perhaps they were shamed by the president’s identifying hoarding as the source of the panic, or maybe they feared prosecution under new penalties, including a tax on hoarding, then being discussed in Washington as ways of ensuring that gold came back to the Treasury. The Federal Reserve announced that it had the names of those who had taken out gold... >>MORE(Bloomberg.com)
Hear Franklin D Roosevelt Fireside Banking Chat March 12, 1933
by Kimberly Nordyke 3/29/2013 Hollywood Reporter.com
Captain Zeke Tenhoff faces the end of gold mining season without his friend and fellow dredger.
In Friday's season finale, the dredgers break through Nome's frozen harbor for one last shot at finding treasure... >>MORE+Video (hollywoodreporter)
Monday, March 18, 2013 GRANTS PASS, Ore. (AP) — The U.S. Supreme Court has let stand a ruling that makes it tougher for small-time gold miners to work their claims...
Urs Geiser, swissinfo.ch Mar 20, 2013
A rightwing group has submitted more than 106,000 signatures to the federal authorities, seeking a vote on stopping the sale of gold reserves held by the Swiss National Bank (SNB). It also wants gold bars stored in the US to be returned.
The group, led by members of the Swiss People’s Party, the far-right Swiss Democrats and the Lega dei Ticinesi movement, is confident a nationwide vote will be called on the issue once the signatures are verified. A date still has to be set by the government... >>MORE(swissinfo.ch)
ALLISON MARTELL Globe&Mail/Reuters
An unmanned miniature helicopter and something that looks like a small flying barbecue are among the gadgets turning the mining sector into an emerging frontier in the commercial use of drones, and at a fraction of the costs of piloted craft.
Aero experts and mapping geeks pitch remotely controlled aircraft as a cheaper and safer way to map deposit sites and even explore for minerals than traditional methods.
“They are really safe, easy to use, lightweight. You can put them in a small bag and take them everywhere,” said Olivier Kung, co-founder of Switzerland’s Pix4D, which makes software to convert photographs from the smallest drones into usable data...>>MORE>(Globe & Mail.com)