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Tag Archives: Switzerland

“Gnomes Of Zurich” In Panic As Saudi Corruption Crackdown Sparks Flood Of Money Laundering Inquiries

There are two divergent views on the crackdown on corruption by Saudi Arabia’s crown prince, Mohammed bin Salman (MBS), which led to the arrest and detention of 200 princes, ministers and former ministers. On one hand, it was a masterstroke which will earn political capital with the Saudi people and catalyse an Arab Spring in which MBS is a modernizing reformer who will liberalise Islam. On the other, it was nothing...

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Frustrated Investors File Lawsuits Against World’s Largest ICO

Here’s the latest sign that the massively fraudulent ICO market is headed for a collapse. Tezos’s investors are still waiting to learn when they can expect to receive the digital tokens that they paid a premium for during the company’s record-setting crowdsale. But as reports of abuse, internal strife and outright embezzlement have surfaced in the press, three groups of angry investors have filed class action lawsuits...

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What Gives Cryptocurrencies Their Value

The value of cryptocurrencies like bitcoin, just like any other kind of money, comes fundamentally from what you can do with it. As a follow up to What Backs Bitcoin, I want to dig into that value. The idea, which comes from Austrian economist Carl Menger, is that just as a shovel’s value comes from its ability to dig, a currency’s value comes from its ability to help you do two things: transactions and savings. Think...

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“Gnomes Of Zurich” In Panic As Saudi Corruption Crackdown Sparks Flood Of Money Laundering Inquiries

There are two divergent views on the crackdown on corruption by Saudi Arabia’s crown prince, Mohammed bin Salman (MBS), which led to the arrest and detention of 200 princes, ministers and former ministers. On one hand, it was a masterstroke which will earn political capital with the Saudi people and catalyse an Arab Spring in which MBS is a modernizing reformer who will liberalise Islam.   On the other, it was nothing other than a cynical and desperate attempt to tighten his grip...

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Bitcoin Tops $10,100 – Fed’s Powell Says “Cryptocurrencies Just Don’t Matter”

Update: Cryptocurrencies are widely bid tonight with Bitcoin over $10,150, Ether holding $475, and LiteCoin topping $100 for the first time… LiteCoin Price in USD, Mar - Nov 2017(see more posts on Litecoin, ) - Click to enlarge Bitcoin has now soared over 20% since Black Friday’s close, topping $10,000 for the first time in history (rising from $9,000 in just 2 days)… now up over 950% year-to-date. image courtesy...

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Frustrated Investors File Lawsuits Against World’s Largest ICO

Here's the latest sign that the massively fraudulent ICO market is headed for a collapse. Tezos’s investors are still waiting to learn when they can expect to receive the digital tokens that they paid a premium for during the company’s record-setting crowdsale. But as reports of abuse, internal strife and outright embezzlement have surfaced in the press, three groups of angry investors have filed class action lawsuits accusing the company of fraud and securities violations. In...

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Demographic Dysphoria: Swiss Village Offers Families Over $70,000 To Live There

Across the world, demographic dysphoria is taking shape, creating numerous headaches for governments. To avoid the next economic downturn, governments are searching for creative measures to increase population growth and deliver a sustainable economy. In Europe, a near decade of excessive monetary policy coupled with a massive influx of refugees have not been able to reverse negative population growth– first spotted in...

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New Gold-Backed Debit Card Launched In Partnership With MasterCard

In recent years, there has been a major debate about the respective merits of gold versus Bitcoin, even though many, not all, gold bulls are also supporters of the latter. Gold advocates generally view favourably Bitcoin’s inherent characteristics of decentralisation, finite supply and ability to operate (so far) outside of the usual interference by western central banks. Having said that, the launch of Bitcoin futures...

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For The First Time Ever, The “1%” Own More Than Half The World’s Wealth: The Stunning Chart

Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what has become the single biggest reason for the recent “anti-establishment” revulsion: an unprecedented concentration of wealth among a handful of people, as shown in Swiss bank’s infamous global wealth pyramid, an arrangement which as observed by the “shocking” political backlash of the past year, suggests that the lower...

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SNB: It’s A Bonfire Of The Absurdities

Authored by John Mauldin via MauldinEconomics.com, “Vanity of vanities, saith the Preacher, vanity of vanities; all is vanity.” – Ecclesiastes 1:2, King James Version (attributed to King Solomon in his old age) This week’s letter will take a look at the growing number of ridiculous, inane, and otherwise nonsensical absurdities that fill the daily economic headlines. I have gone from the occasional smile to scratching my...

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