As there are so many noobs buying into the “Bitcoin casino” right now, especially in Asia, the crypto-currency is now attracting a lot of people who think it’s just like a corporate stock. In other words, they assume it’s regulated by somebody, that its promoters are subject to laws of some kind, and that the…
What is euphemistically called “fractional-reserve banking” is obvious fraud, and obvious crime. By its very definition; it transforms the banking sector of an economy into a leveraged Ponzi-scheme, and as with all Ponzi-schemes, there is no possible “happy ending” here. Mathematically-based principles are often illustrated best through use of an extreme, numerical example. We have…
In a previous post (Why GOP leadership doesn’t ring true) I alluded to Former GOP Majority Leader Dick Armey’s infamous boasting about how “When I wasRepublican leader, I saw to it that Tom Tancredo could not get on a stage because I saw how destructive he was.” Armey called Tancredo destructive because of his strong stand…
Born A Poor White Child Stockbroker. Born Bernard Lawrence Madoff on April 29, 1938, in New York City to parents Ralph and Sylvia Madoff. Ralph, the child of Polish immigrants, worked for many years as a plumber. His wife, Sylvia, was a housewife and the daughter of Romanian and Austrian immigrants. The couple married in…
