Wussie World

Many changes have occurred in the past few years. One is the gelding class of males known as Snowflakes. This group of “shemales” should be actually named steers. One thing they will find out is the meek do not inherit the earth. They inherit a small space in the slave pens.

Dresses for men is now touted as the new fashion. If it’s a kilt, sporran and claymore that’s acceptable. Something in chiffon with a pink pussy hat, stuff it. These young twits have not a clue.

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Idiot’s Corner

Someone has to be manipulating this market to get bounces like this. The pump and dump crowd will catch more suckers when the hype hits the wires.
“Get your new tulip bulbs; Black is the new rage color. Price can only go up.”

Bitcoin struggles to hold above $16,000; crypto marketplace Coinbase reports transaction delays

After Friday's crash, Bitcoin climbs back above $16,000

Bitcoin rallied Tuesday, recovering from a sharp sell-off late last week.

The digital currency briefly climbed more than 12.5 percent to above $16,100 late Tuesday morning and was trading near $15,965 late in the afternoon, according to Coinbase, the leading U.S. platform for trading major digital currencies.

However, Coinbase said on its status website at 1:24 p.m., ET, that “Due to high volume, we are experiencing a backlog of outgoing transactions for BTC and ETH. … Outgoing transactions of BTC and ETH may be delayed by several hours.”

 The issue remained unresolved more than three hours later, according to the website.

With Tuesday’s gains, bitcoin has now recovered more than 50 percent from a low of $10,400 hit Friday in an extremely volatile day of trading that had no immediately apparent explanation behind it. Trading on Coinbase was also down for more than two hours during Friday’s sell-off. [snip]

The CME bitcoin futures expiring in January settled nearly 11.7 percent higher at $15,785, and the Cboe bitcoin futures settled up 13.3 percent at $15,810. Trading volume in the Cboe January contract was above 2,300, while the CME equivalent was near 2,000, according to their websites.

Ethereum traded 0.6 percent higher near near $770, down about 12.6 percent from its record high of $881.44 hit Thursday, according to CoinMarketCap.

The bitcoin offshoot, bitcoin cash, traded more than 1 percent lower near $2,806, according to Coinbase.

Collectivist Banking

Playing the Bitcoin market? Your odds are better playing Russian Roulette.

Who Regulates Bitcoin Trading? No U.S. Agency Has Jurisdiction

Investors are frantically trying to learn everything they can about bitcoin—and so are regulators.

Furious trading in cryptocurrencies is testing many in the Trump administration who are eager to embrace financial innovation, after nearly a decade of tighter clamps on risk-taking put in place after the 2008 financial crisis.

The Commodity Futures Trading Commission, the agency with closest oversight of bitcoin trading, began the year by launching an in-house lab to encourage advances in blockchain, the technology that underpins digital currencies. Yet the regulator recently sounded an alarm on bitcoin itself, noting most exchanges are completely unregulated while the cryptocurrency is prone to wild price swings and potential flash crashes.

The CFTC has labeled bitcoin a commodity, but as with other commodities, the agency mostly lacks jurisdiction over the primary market: It regulates corn futures contracts but not the buying and selling of corn itself, for instance. As a result, bitcoin exchanges don’t have to tell participants how they operate, such as whether they offer preferential access to certain traders. [snip]

Many issuers say their tokens will trade, just like cryptocurrencies, on platforms that function as exchanges. There are now so many tokens trading that some securities lawyers say the landscape resembles the market for micro-cap companies, thinly traded stocks that are easily manipulated by promoters and pump-and-dump artists.

“When there is a lot of money in the space, you get well-meaning entrepreneurs and you get charlatans only looking to scalp, and pump and dump, and flip ICOs,” said Chris Padovano, a New York attorney specializing in advising blockchain-based businesses.

While many cryptocurrency and token exchanges are based overseas, SEC officials believe their authority can extend beyond U.S. borders, according to people familiar with the matter. The issue would turn on whether an exchange solicited U.S. investors or knew its activity would attract U.S. participants, the people said.

Other countries have also stepped up scrutiny of ICOs. China banned them in September, as part of a broader crackdown on cryptocurrencies. Regulators in Hong Kong and Singapore have also warned against ICOs, citing concerns about fraud, money laundering and terrorist financing. South Korean regulators have said they would ban ICOs, without giving details.

Collectivist Banking

Just when you think your money is safe…

Banking – This ain’t no foolin’ around…from Rico

Once upon a time, you took your money to a bank for safekeeping and the bank paid you interest on the deposit of your money in their bank.- The bank was accountable to you for your money.
Not any more.

We have gone from ZIRP (zero interest rate policy) where no interest was paid to depositors, to NIRP (negative interest rate policy) where depositors pay the bank for safekeeping their money.

But it has gotten even ‘better’ than that.

The laws have been changed once again, and when you deposit your money in a bank, it ceases to be your money and it belongs to the bank at the point of deposit.
– Depositors are now unsecured creditors to the bank that owns their depositor’s money at the point of deposit. Yes, you read that right…my regulatory sleight of hand. By depositing your money into a bank, your money becomes the bank’s money.

If the bank screws up, displays bad judgement, or conducts sloppy business and has a problem and/or fails, guess what? Aaaand it’s gone. [think: Cyprus].
– Unsecured creditors get paid back last for pennies on the pound…if they get paid back at all.

Banking today.
– You can go ‘broke’ by running out of money [read: Argentina], or you can have plenty of money that’s worthless [read: Venezuela, Zimbabwe] and be ‘broke.’ Pick one.

To badly paraphrase the lyrics of the Talking Heads:
“This ain’t no party, this ain’t no disco…this ain’t no foolin’ around.”

A follow up to Big Spenders

The Central Banks in the EU are working on a special way of dealing with their depositors if another “Grecian Formula” needs to be applied to cover a ‘Bail in’. Oh yes, a bail in is when the depositors get shafted instead of the bank stockholders when the financial markets and the bankers SCREW THE POOCH.

If the interest rates climb here the cost of the national debt will eat into every program this corrupt Congress is running to the point that they won’t be able to collect enough taxes to pay for all the promises. All that money will have to go toward paying the interest on outstanding bonds and T-Bills held by foreign Countries and Americans. Printing more money only worsens the situation, which is what we have been doing since LBJ raped Social Security to pay for the Vietnam War.

This is one reason for the drive toward a cashless society. When they control the money, they control you. It seems so nice to be able to wave your iPhone at the register to pay for that overpriced latte; what happens when the government decides no more lattes or gas, or movies, or steaks, or golf.

ECB – Not paying the piper when the ‘jig’ is up…from Rico

When the proverbial ‘jig’ is up, what does one do?
– Why, you simply change the rules of the game instead of paying the piper, at least that’s what the ECB (EUropean Central Bank) thinks.

With the “bail ins” of banks in Cyprus a now faded memory, and with the ECB essentially ‘broke’ [read: insolvent] it’s apparently time for the financial Ouroboros to consider devouring the little guy instead of itself.
The ECB proposes ending deposit protection [read: changing the rules].

An 08 Nov 2017 ECB document (an excerpt of the 58-pgs attached, it’s a mind-numbing read) considers that “deposits no longer need to be protected.”
– Instead of ‘fixing’ the banking system, the banking system is being ‘rigged’ by the bankers to remove ALL protection of deposits. Say ‘sayonara’ to the Euro 100,000 deposit level currently protected from bank bail-ins.

In MEGO (my eyes glaze over) legal lingo, the ECB is considering that in the event of a bank bail-in, it will (instead of protecting deposits) give depositor’s an “allowance” from their own savings. An allowance they will control.
– And only after a five-day wait period from time of a depositor’s request, they will determine what is an ‘appropriate’ amount of your own money you can access for food, rent, and other expenses.

If you have paid any attention to how the EU responded to BREXIT, or Catalonia, then you should clearly understand that these EU BureauRats could give a rat’s ass about the little people.
– Another time we will discuss the Central Banker’s push to implement a “cashless society” (gee, what could possibly ‘go wrong’ with that?*) while they buy physical Gold for themselves…..

*Think Puerto Rico when the power went out after their latest hurricane, for just one example. [No electricity=no digital money.]

It won’t be just the pooch that gets screwed!

File this under BAD IDEAS

Everyone has seen enough science fiction movies or read a variety of books to know that the invaders from space are always conquered by the stalwart humans. Well consider what has happened on this planet when a superior culture comes into contact with an inferior one. Always the lesser culture is subsumed by the  more advanced and seldom to their benefit at least initially and usually permanently.

We may have or may not have visitors from outside our solar system. I’m not going to argue that point. Let us say so far we haven’t for the sake of argument. We managed to put men on the Moon, but they couldn’t stay there. We’ve only managed to put small probes onto the Martian surface. That is the extent of man’s ability to travel into space.
Do you think it is wise to advertise our location to a species that can travel through interstellar space?

China races to make FIRST CONTACT with aliens using world’s largest dish

CHINA is racing to become a major space superpower and could be the first nation to make contact with alien life by using the world’s largest radio dish which can detect signals from the deepest depths of space. [snip]

China made the move following numerous dozens of suspected-extraterrestrial encounters, including claims that a UFO was seen over the Great Wall of China last week.

The superpower has now poured billions of pounds into space exploration and the world’s largest dish to detect alien signals coming from other galaxies.

Liu Cixin, a top Chinese researcher into alien life, described the dish as something “out of science fiction”.

Mr Liu has written a number of books about the risks of first contact and warns that the “appearance of this ‘other’” could end with mankind’s extinction. [snip]

Letting an unknown species aware that we’re here is a new kind of stupid. If they can get here, obviously, they are a far superior culture. That doesn’t mean they are benign; They could view us as food or vermin or worse: Slaves.
There was a science fiction book written about aliens who came to Earth. They had a book called “To Serve Man” and everyone thought it was wonderful until they found out it was a cookbook.

Who knows what or who exists in this universe; if they can get here we’re not advanced enough to meet them on an equal footing. And don’t think they might look like ET.

100 years of blood and death

Given the history of Communism/Socialism and the constant show of fails today, how can anyone still espouse this as a viable form of governance escapes sane people. Only those with an psychotic desire to control society follow this path. They attract acolytes with borderline personalities incapable of discerning reality.

Communism’s Bloody Century

In the 100 years since Lenin’s coup in Russia, the ideology devoted to abolishing markets and private property has left a long, murderous trail of destruction

A century ago this week, communism took over the Russian empire, the world’s largest state at the time. Leftist movements of various sorts had been common in European politics long before the revolution of Oct. 25, 1917 (which became Nov. 7 in the reformed Russian calendar), but Vladimir Lenin and his Bolsheviks were different. They were not merely fanatical in their convictions but flexible in their tactics—and fortunate in their opponents. [snip]

The balance of this article is behind a paywall. I shall not give the American media a plug nickle for any scribbling. You can find this history on the web but all one has to do is read what is happening in Venezuela for a repetition of the last Century.