Still cant make this stuff up.....

From a CNN article today"

"U.S. stock futures and global markets were pushing higher as investors now anticipate Janet Yellen will take over as Fed chairman.

All three major U.S. indexes were moving up by more than 1% ahead of the opening bell, bringing the S&P close to its record of 1,709 from Aug. 2. The U.S. dollar was slipping.

Investors are excited at the prospect of Yellen taking over from current Fed chairman Ben Bernanke, since she is widely expected to pursue a similar policy of stimulating the economy to bring the unemployment rate down

Investors had been concerned that Summers, the previous frontrunner for the top Fed job, would have been more aggressive at pulling back on the monetary stimulus measures that have been pumping cash into the system and supporting stock markets around the world."

So essentially that article is stating that Yellen is more likely to print money.   Lawrence Summers, who was the other top pick, suspiciously drop out of the race for the fed chair over the weekend.  Perhaps in a sit down with Obama, he refused to continue the money printing?

Perhaps there was secret competition between the two, of who promised to print the most money for the Federal Government?

Here is how this goes down.   Ben Bernake starts printing money.  Ben Bernake wants to stop, and he just might slow down, however Bernake is retiring in Janurary.    Obama looks for a new money printer that will continue the money printing.   Janet Yellen steps up and says "I'll print the most money" so she gets the job.

Another thing that makes me laugh is that their money printing cycle is self fulfilling.   Here's how it goes.

Step 1) Bernake says "we'll stop printing money when employment drops"
Step 2) Employment drops (because people stop looking)
Step 3) Slow down money printing
Step 4) Federal government cuts budgets because they are out of money, leading to higher unemployment
Step 5) Repeat.

Comedic Gold

I'm young enough I have only watched the adoption of a couple disruptive technologies.

The cell phone.

Netflix and the break away from 'appointment tv'

When I talk about disruptive technologies, I'm talking about new technology that changes the world as we know it.   Part of this process is the news cycle.   A properly disruptive technology is often in the news.

Because Bitcoin is massively disruptive, never before in my life have I been so excited to wake up in the morning.   I wake up, grab my phone, and read through all the news that happened in just the past 8 hours.

This is real life people, and its happening before your very eyes.

This morning I got a really really good one.  Sometimes I feel like I couldn't even make this stuff up, its comedic gold.

Here is the article. Fed Warns of 'Escalating Threats' to U.S. Payment System

The FEDERAL RESERVE has noted these deficiencies in their current system

1) Checks are old and outdated, people prefer electronic.

2) Other countries have real time payments, but the US does does not

3) People desire these features

            A) A real-time validation process assuring the payee that the payer’s account exists and it has enough funds or available credit to cover the payment;

            B) Assurance that a payment will not be returned or reversed;

            C) Timely notification to the payer and payee that the payment has been made;

            D) Near-real-time posting / availability of funds to both the payer’s and payee’s accounts; and

            E) Masked account details, eliminating the need for end users to disclose bank account information to each other. (checks and credit cards are literally giving somebody else access to your bank account)

4)  In general, cross-border payments from and to the United States are slow, inconvenient, costly, and lack transparency regarding fees and timing. (HA!)

Those bullet points above describe Bitcoin to a capital "T"  Note that they did not specifically call out bitcoin, but they described it.   The Feds do not like to call attention to bitcoin, as it only furthers bitcoins adoption.   Imagine the media frenzy if the paper mentioned Bitcoin?   CNN would be running stories for months about how Bitcoin is better than the federal payment system.

In general the FEDERAL RESERVE has just said they consider Bitcoin an  Escalating Threat to U.S. Payment System

The point of the article was the FEDERAL RESERVE asking for help on how they can innovate their payment system.   Comments are due by December 13, 2013.   I'm sure at the speed of government they will have some decisions by December 13, 2014, with actions by December 13, 2015.   By that time Bitcoin will STILL be light-years ahead of their 'payment system'

On a side note I've written a couple topics on "Currency Competition".   If the only thing Bitcoin does is provide competition for the monopoly over government money, the world will be better for it as governments are forced to innovate their systems, or go bankrupt.

And here is the advertisement I was looking for....

Syria

It kind of cracks me up that President Obama is essentially running an ad campaign to start a war with Syria.   I'll laugh if we start seeing commercials on TV.

Yes I believe that Assad used chemical warfare

No, he should not have done that

Yes, women and children died and thats horrible.

But if you look at the statistics, I think 93% if Americans are against any action in Syria.   American is *hopefully* on the tail end of 12 years of war in Iraq and Afghanistan.  President Obama promised during his election he would end the war (of which he did nothing BTW).    Why does he want another war SO BAD?

It doesn't make any sense why a nation tired of war would go start another one... until.......

wait for it....

You realize that the President needs war in order to get the federal reserve to continue printing money.  Then it all makes sense.

Ben Bernake is rumoured to stop his printing press pretty soon.   The federal reserve has stated that he will end QE3 when inflation is above 2% or employment falls below 7%.

Employment just fell to 7.3% and rumor is that the federal reserve might begin to taper QE3 in September.

If you follow the situation in Syria, you essentially have the ingredients for WWIII.   If we attack Syria, Syria and its allies will attack US allies in the region.  It is then the US's 'responsibility' to defend its allies.

A war with Syria means another recession for the US.  Another Recession for the US means more money printing.    More money printing means inflation, and another couple years for the United States Budget.

Obama doesn't want war, I dont believe anybody does.   Obama and the United States need reasons to keep the printing presses going.   As soon as those presses stop, the US defaults.

Prove me wrong?

Bitcoin is on eBays radar

http://deals.ebay.com/blog/whats-the-deal-with-bitcoins-anyway/