Soon after West Virginia Democratic Senator Joe Manchin urged Treasury Secretary Jack Lew and Federal Reserve Chair Janet Yellen to ban bitcoins in the United States, Yellen delivered testimony to the Senate Banking Committee on Thursday in which she confirmed that the central bank does not have the authority to regulate the digital currency. Manchin […]
Archives for February 2014
Ukraine to receive $1 billion loan guarantee from U.S.: John Kerry
Amid a crisis in Ukraine and the Eastern European country proposing a top economic legislator as the next prime minister, United States Secretary of State John Kerry announced that it is planning a $1 billion loan guarantee to Ukraine. The U.S. will work with the International Monetary Fund and other international organizations to allocate the […]
U.S. Senator calls for bitcoin ban
This week, Mt. Gox, one of the world’s biggest bitcoin exchanges, went dark and could very well be insolvent. Apparently, the collapse of Mt. Gox has caused a large number of investors to lose approximately $320 million. In addition, one leaked document suggests the Mt. Gox operators feel this could be the end of bitcoin. […]
Dollar collapse likely as ECB projects rise in China’s yuan
Financial experts and ardent supporters of the United States dollar like to compare the greenback to other weak fiat currencies to show it still has power. However, a recent report from the European Central Bank (ECB) suggests the dollar might not reign supreme in the international trade and investment world anymore. ECB executive board member […]
Economic illiteracy is the problem with minimum wage proponents
It’s quite understandable that many public officials, union leaders and anti-poverty activists are illiterate when it comes to economics. However, a paucity of elementary understanding can lead to long-term consequences and ramifications for the people these leaders intend to help. This can be applied to minimum wage laws and proposed hikes. (I assure you this […]