My dear American readers/followers. This video is for you. Hopefully after you’ve watched it you understand who are your TRUE masters.
FRONTLINE’s Breaking the Bank tells the story of Lewis’ struggle to survive in this new financial order, where public outrage and government edicts are now as important to banking as shareholders and deposits. With his bank on the brink, Lewis now finds himself the subject of a shareholder revolt, congressional indignation, presidential pressure and the increasingly conflicting demands of private investors and government officials.
The journey begins as FRONTLINE correspondent Forrest Sawyer takes viewers to a secret location: the Treasury’s debt auction room, where the U.S. government sells securities backed by the “full faith and credit of the United States.” On this day, the government is auctioning $67 billion of Treasury securities. The money borrowed will be used to fund services and programs that the government cannot pay for through tax revenues alone.
Observers warn that the United States’ reliance on borrowing to fund essential programs is a dangerous gamble. For the first time, investors are beginning to question the ability of federal government to meet its growing financial obligations, and fading confidence can have dire consequences. “You might have a situation where there is one day when the government says we need to sell several billion dollars of bonds, and nobody shows,” Economist reporter Greg Ip says. “No money to pay the Social Security checks, no money to give to the states for their Medicaid programs. Cut, cut, cut, cut, cut.”
Yet more borrowing is exactly what the Obama administration plans to do: hundreds of billions to bail out the banks and other financial institutions; tens of billions more for the auto industry; $275 billion for homeowners and mortgage lenders; and a giant $787 billion stimulus package to jump-start an economy spiraling downward. Just like the Bush administration before it, Obama and his team are going to borrow big.
“That’s the paradox of the situation that we’re in now,” observes Matt Miller, author of The Tyranny of Dead Ideas. “Government has got to run big deficits to stimulate the economy, deficits that would have been unthinkable … because government’s the only entity with the wherewithal to prop up a demand in the economy when businesses and consumers are all pulling back.”
Hi everyone. I’ve got another bitcoin related video to share. Like the other videos I’ve posted this one also tries to explain how the bitcoin currency works but it goes into more detail regarding some of the technical details behind the system – ie it is a far more geeky video. However if you really wish to wrap your mind around the brilliance of bitcoin I would strongly suggest you visit the official bitcoin website and read the available documentation.
OK, so here goes the video. I hope you enjoy it.
Hi there. In the previous post I introduced you to the wonderful world of bitcoin – the newfangled and in my opinion revolutionary digital currency system. Today I’m going to share with you another video relevant to bitcoin. It’s rather short and has an air of conspiracy theory to it but I still think it would make a great video to show to someone who has never heard of bitcoin. Check it out here:
That’s it for now.
Hi everyone. It has been quite a long time since I blogged about the e-currency industry, so I figured I’d get back into it and write a brief introduction to a new and innovative e-currency called Bitcoin.
I came across a video on YouTube which explains what Bitcoin is so I though I’d best start this blog posting by sharing this video with you:
I for one believe Bitcoin is a really neat e-currency system! Checkout some of the numerous features of the Bitcoin system.
Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you’re trading with. This decentralization is the basis for Bitcoin’s security and freedom.
Very low fees:
Currently you can send Bitcoin transactions for free. However, a fee on the order of 1 bitcent will eventually be necessary for your transaction to be processed more quickly. Miners compete on fees, which ensures that they will always stay low in the long run. More on transaction fees
Your Bitcoins can be accessed from anywhere with an Internet connection. Anybody can start mining, buying, selling or accepting Bitcoins regardless of their location.
No “smal print”:
If you have Bitcoins, you can send them to anyone else with a Bitcoin address. There are no limits, no special rules to follow or forms to fill out.
More complex types of transactions can be built on top of Bitcoin as well, but sometimes you just want to send money from A to B without worrying about limits and policies.
Own your money! :
You don’t have to be a criminal to wake up one day and find your account has been frozen. Rules vary from place to place, but in most jurisdictions accounts may be frozen by credit card collection agencies, by a spouse filing for divorce, by mistake or for terms of service violations.
In contrast, Bitcoins are like cash – seizing them requires access to your private keys, which could be placed on a USB stick, thereby enjoying the full legal and practical protections of physical property.
Features text taken from weusecoins
Where can I get some bitcoins?
You can see the bitcoin website for a list of various bitcoin exchangers.
Me and a buddy of mine have put together a site where you can buy/sell bitcoins for PayPal, so if that’s what you’re after I suggest you check out the link below:
The site is still in development but it pretty much works as it should. If you run into any problems please don’t hesitate to give me a shout.
I hope you found this brief introduction to the world of Bitcoin useful.