This is no small matter. For decades, being a superpower has been the defining characteristic of American identity. The embrace of global supremacy began after World War II when the United States assumed responsibility for resisting Soviet expansionism around the world; it persisted through the Cold War era and only grew after the implosion of the Soviet Union, when the U.S. assumed sole responsibility for combating a whole new array of international threats. As General Colin Powell famously exclaimed in the final days of the Soviet era, “We have to put a shingle outside our door saying, ‘Superpower Lives Here,’ no matter what the Soviets do, even if they evacuate from Eastern Europe.” Imperial Overstretch Hits Washington Strategically, in the Cold War years, Washington’s power brokers assumed that there would always be two superpowers perpetually battling for world dominance. In the wake of the utterly unexpected Soviet collapse, American strategists began to envision a world of just one, of a “sole superpower” (aka Rome on the Potomac). In line with this new outlook, the administration of George H.W. Bush soon adopted a long-range plan intended to preserve that status indefinitely. Known as the Defense Planning Guidance for Fiscal Years 1994-99, it declared: “Our first objective is to prevent the re-emergence of a new rival, either on the territory of the former Soviet Union or elsewhere, that poses a threat on the order of that posed formerly by the Soviet Union.” H.W.’s son, then the governor of Texas, articulated a similar vision of a globally encompassing Pax Americana when campaigning for president in 1999. If elected, he told military cadets at the Citadel in Charleston, his top goal would be “to take advantage of a tremendous opportunity — given few nations in history —Originally appeared at: http://davidstockmanscontracorner.com/the-delusional-world-of-imperial-washington/The Delusional World Of Imperial Washington is a story from: BitcoinWarrior.net
The Delusional World Of Imperial Washington is a story from: BitcoinWarrior.net
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Bitmine AG Goes Bankrupt, Facing Multiple Lawsuits for Non-delivery of Hardware By Deepak Tiwari May 31, 5:08 BST Originally appeared at: http://www.forexminute.com/bitcoin/bitmine-ag-goes-bankrupt-facing-multiple-lawsuits-for-non-delivery-of-hardware-59371Bitmine AG Goes Bankrupt, Facing Multiple Lawsuits for Non-delivery of Hardware is a story from: BitcoinWarrior.net
Bitmine AG Goes Bankrupt, Facing Multiple Lawsuits for Non-delivery of Hardware is a story from: BitcoinWarrior.net
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Bitcoin meetup groups are a great way to get together with like-minded people and discuss anything digital currency-related. Not only will you form a circle of new friends, but you will also be treated to a few presentations now and then. For those among us who like a few statistics, let’s take a look at some of the more recent changes and shifts in the Bitcoin meetup “power rankings.” Also read: California Bitcoin Bill May Pose Problems for Startups Bitcoin Meetup Growth Numbers Around The World The most popular Bitcoin meetup groups are to be found in traditional places. Major cities always tend to draw a bigger crowd, but that doesn’t mean that smaller communities are left in the cold either. Strength in numbers is a good thing — especially with Bitcoin — but that doesn’t tell the whole story either. During the course of April 20th to May 19th, there has only been one Bitcoin meetup group which has actively shrunk. The Israeli BTC Entrepreneurs meetup group has seen its numbers dwindle a bit, as there were 0.68% less members at press time compared to the time preceding April 20th. Considering this Bitcoin meetup group had a 10.8% member increase between February 20th and March 19th, thought, this small decline is nothing to worry about just yet. On the other hand, there were two Bitcoin meetup groups which have seen a very nice growth over the past month. Both Seoul Bitcoin Meetup (+10.47%) and Paris Bitcoin Meetup (+10.21%) have seen a nice uptick in members, which could indicate that new initiatives are brewing in those parts of the world. These percentages don’t tell the entire story of course, as the largest Bitcoin meetup communities willOriginally appeared at: http://bitcoinist.net/bitcoin-meetup-growth-around-world/Bitcoin Meetup Growth Around The World (April 20th – May 19th 2015) is a story from: BitcoinWarrior.net
Bitcoin Meetup Growth Around The World (April 20th – May 19th 2015) is a story from: BitcoinWarrior.net
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Key Highlights Bitcoin buyers were under attack, as sellers managed to take prices lower below a critical support area. 00 support area holds the key for more downsides in the near term. Bitcoin price after peaking around 240.00 failed and traded lower and even crashed below 235.00 to set up for a move towards 230.00. There was an important bullish trend line on the 4-hours chart of Bitcoin, which was breached. It traded as low as 231.04, and might trade near 230.00 in the short term. The Bollinger Bands were also widened suggesting that there is a lot of bearish pressure on Bitcoin. The 4H RSI spiked below the 50 level and tested the 30 level before moving back higher, pointing that a correction is possible if all goes well in the near term. However, the upside might be limited considering the fact that sellers are still in control. Role of 100 MA The price during the downside reaction moved below the 100 MA, which is another sign that buyers were outnumbered. Moving ahead, the 100 MA might act as a resistance if prices correct higher from the current levels. An initial resistance is around the 23.6% Fib retracement level of the last drop from the 241.00 high to 231.04 low. However, the most crucial resistance can be around the 38.2% Fib level, which is coinciding with the 235.00 pivot area and the 100 MA. Furthermore, the broken trend line might also come into play and stall the upside in the short term. Intraday Support Level – 230.00 Intraday Resistance Level – 235.00 If prices continue to move lower, and breaks below the recent low of 231.04, then a test of 230.00 is very likely. AnyOriginally appeared at: http://www.newsbtc.com/2015/05/31/bitcoin-weekly-analysis-further-losses-seem-likely/Bitcoin Weekly Analysis – Further Losses Seem Likely is a story from: BitcoinWarrior.net
Bitcoin Weekly Analysis – Further Losses Seem Likely is a story from: BitcoinWarrior.net
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Shanghai’s stock market just experienced a Wile E. Coyote moment. For weeks, investors had been chasing higher and higher returns. On Wednesday, however, they suddenly looked down to find their road had disappeared. The realization came courtesy of China’s central bank, which had decided to drain cash from the financial system, and jittery brokerages, which had just tightened lending restrictions. That one-two punch didn’t just send Chinese stocks down 6.5 percent, the most in four months. It also raised existential questions about one of modern history’s greatest asset bubbles. And it is a bubble. The 127 percent gain in the Shanghai Composite Index over the past year defies financial gravity. It’s been driven not by optimism about China’s economic fundamentals or corporate earnings, but record growth in margin debt. Such lending — fueled by speculation that the People’s Bank of China will soon cut interest rates and reduce lenders’ reserve requirements — exceeded $322 billion as of May 27, five times the level of a year earlier. And that’s just the official tally: China’s shadow banking system is estimated to have created $20 trillion of credit since Lehman Brothers went bankrupt in 2008. What makes China’s bubble unique is the government’s direct role in creating it, feeding it and now managing it. Last August, for example, as the Chinese stock market threatened to sag, state-run media started prodding the Chinese public to pile their life savings into shares. During a single week in August 2014, Xinhua News Agency put out eight features espousing the wisdom and patriotism of owning equities. Beijing also reduced trading fees and allowed individuals to open as many as 20 accounts. The implicit message was that the Communist Party could and would protect stock investments, if need be. The plan succeeded beyond Beijing’s wildest expectations, leaving it with an epic challenge: How do youOriginally appeared at: http://davidstockmanscontracorner.com/chinese-stock-markets-wile-e-coyote-moment/Chinese Stock Market’s Wile E. Coyote Moment is a story from: BitcoinWarrior.net
Chinese Stock Market’s Wile E. Coyote Moment is a story from: BitcoinWarrior.net
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Want to Trade Bitcoin? ForexNews RecommmendsClick Here To Learn More. Bitcoin traded slightly down today. After opening at $237.48 BTC/USD fell to a low of $232.85 around mid-day. From here we flat-lined and after an end of day bump higher we closed the day at $234.96. Total gain 1.05%, nothing to write home about. We are currently quoted at $235.08 on BTC-E. On OKCoin we are trading at $233.17 on the spot exchange and $234.04 on the June 5th futures contract. The far out, June 26th contract is trading one dollar on top of that at $235.16. Futures traders don’t seem too worried about today’s drop, probably due to the small magnitude of the move. A premium on futures compared to spot prices indicates that traders are bullish on bitcoin. But the current $2 dollar gap is relatively small. In the middle of the last bitcoin rally we saw that premium explode to $10 – $15 dollars over spot. You can find current OKCoin futures prices HERE. If the tentative move lower continues, the $230 level is the first ”line of defense.” The bears will probably need to break $225 dollars per coin to see extended losses. But the move lower may be limited by the double bottom at $210 dollars ($214 on OKCoin). To see a longer, more established downtrend the round $200 dollars mark has to give as well. On the top end, the $250 level remains to be key. A breakout above it could lead to rally. Notable resistance levels higher can be found at $258 ($262 OKCoin) and $270, followed by the round $300 dollars mark. With prices constrained in a severe range-bound market this month, the eventualOriginally appeared at: http://www.forexnews.com/blog/2015/05/31/bitcoin-declines-by-1-inches-toward-230/Bitcoin Declines by 1%, Inches Toward $230 is a story from: BitcoinWarrior.net
Bitcoin Declines by 1%, Inches Toward $230 is a story from: BitcoinWarrior.net
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In the latest development on the debate about the potential increase of the 1-megabyte block size limit, Gavin Andressen (Core developer, Bitcoin…
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Ross Ulbricht, the mastermind responsible for creating and running the illegal drug marketplace Silk Road, was sentenced to life in prison on Friday (29th). The sentence was announced by judge Katherine Forrest of Manhattan’s US district court for the southern district of New York. The 31-year-old defendant, known in the Deep Web as ‘Dread Pirate Roberts’, […]
Introduction: Mark Thornton is Senior Fellow at the Ludwig von Mises Institute, with articles published often in the Mises Daily. He serves as the Book Review Editor of the Quarterly Journal of Austrian Economics and was a member of the Editorial Board of the Journal of Libertarian Studies. He has served as the editor of the Austrian Economics Newsletter and as a member of the graduate faculties of Auburn University and Columbus State University. He has also taught economics at Auburn University at Montgomery and Trinity University in Texas. Mark served as Assistant Superintendent of Banking and economic advisor to Governor Fob James of Alabama (1997-1999) and he was awarded the University Research Award at Columbus State University in 2002. His publications include The Economics of Prohibition (1991), Tariffs, Blockades, and Inflation: The Economics of the Civil War (2004), The Bastiat Collection (2007), and The Quotable Mises (2005). Mark Thornton is a graduate of St. Bonaventure University and received his PhD in economics from Auburn University. Daily Bell: Hello there. Let’s jump right in. We’ll cover marijuana regulation, in particular, in this interview. Given the recent legalization in Uruguay, pending changes in many US states as well as new regulations governing production and distribution of medical marijuana in Canada, we wanted to get your take on what’s happening. Your 1991 book, The Economics of Prohibition, is as timely as ever now and you’ve written quite a number of provocative articles on marijuana legalization more recently. Tell us a bit about the book and about your position on the issue now. Mark Thornton: The book was a byproduct of my PhD dissertation, which I completed at Auburn University in late 1989. It was an old-fashioned dissertation with a review of the literature, a chapter on the history of prohibition in America, aOriginally appeared at: http://davidstockmanscontracorner.com/prohibition-marijuana-and-the-statist-fountainhead-of-corruption-and-crime/Prohibition, Marijuana And The Statist Fountainhead Of Corruption And Crime is a story from: BitcoinWarrior.net
Prohibition, Marijuana And The Statist Fountainhead Of Corruption And Crime is a story from: BitcoinWarrior.net
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Changpeng Zhao left OKCoin earlier this year, with the company owing him $10,000 and apparently feeling no obligation to pay him. A company that doesn’t treat its employees well will inevitably have other problems, and so Zhao’s exit could have served as a warning for the rest of the community, including Roger Ver, who says they owe him tens of thousands of dollars now. Zhao took the time to make a lengthy statement to the Bitcoin community via Reddit recently. As a former high-ranking company official, his view of how things work at OKCoin is valuable insight. I tried hard to stay out of the public dispute between OKCoin and Roger Ver, hoping they would resolve themselves, over a contract relatively small in size. […] I have also always refrained from saying anything bad about my previous employer. But the situation has left me no choice but to make a public statement. One of the more important things he said in his lengthy statement was that, initially, he tried to take the deal between OKCoin and Roger Ver off OK Coin’s hands. He says that Roger Ver is a friend of his, and that the gentleman’s agreement made with Ver was made between friends and businessmen. This is an historically bad way to do business. Also read: Roger Ver OKCoin In Dramatic Public Contract Dispute A written contract can serve both parties equally. The more money you’re talking about, the worse an idea it is to do somethingOriginally appeared at: https://www.cryptocoinsnews.com/former-cto-bitcoin-exchange-okcoin-changpeng-zhao-speaks-scams-trading-bots/Former CTO of Bitcoin Exchange OKCoin Changpeng Zhao Speaks Out about … is a story from: BitcoinWarrior.net
Former CTO of Bitcoin Exchange OKCoin Changpeng Zhao Speaks Out about … is a story from: BitcoinWarrior.net
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