Author Archives: occupymelbournenet

Manchester massacre

Why can’t the press just say Muslim terror attack? If this does not change the conversation in the UK and in the west in general, I would hate to see what does.

 

Immigration a costly mistake

Black pigeon speaks on immigration citing economic impact from several studies in first world countries.

 

Bitcoinplus pumped

BitcoinPlusPumped

Bitcoinplus  (XBC) prices rise on a massive surge on volume. It look very much like a classic ‘pump and dump’ scheme and looking at the other coins with ‘bit’ in the name also rising, it has the sniff of a rumor being spread to draw in the sucker money.

28march2017poloniex

Yes that’s right, you are seen over 1000% rise in one 24 hour period. There is still plenty of irrational exuberance in the crypto currency markets.

So it a pump and dump? well wait a few days and see. From the chart it seems that there was a chosen support level of 0.04 BTC that the pumper seem to be trying to maintain. Bitcoin dark was supposedly up on the news it was being merged into a new coin called Komodo.  Maybe it was the day for bit-anything.

Graphics from Poloniex.

Old Left Vs New Left

Hundreds of hours of political analysis boiled down to one easy to remember meme.

OldLeftVsNewLeft

Finance game changer

Australian department of finance released a recruitment video recently, and its completely cringe worthy. Maybe this is a reflection of their lack of self reflection, or the fact they get forced into all sorts of stupidity.

 

paleoPearAndBananaBread

 

So keeping in the Marie Antoinette theme, I’m sure heads will roll over this.

Bitcoin worth more than gold ounce

 

bitcoindesk

Prices in US dollars.

http://www.coindesk.com/bitcoin-price-sets-new-all-time-high-second-day/

Unlike the 2013-2014 price spike this trend seem to long term growth.

bitcoin-surge

 

 

 

 

 

 

Berkeley violent Antifa riot

Masked Antifa terrorists rioted at Berkeley university in response to a planned speaking event by Milo Yiannopoulos. Milo’s speaking event was cancelled due tot he riots.  Innocent people were attacked with poles by Antifa, one is believe to be critically injured, possibly dead. Antifa also burned dumpster and a tree.

backup copy of footage, because this event is being covered up. Antifa terrorists threatened people who were filming and demanded people deleted footage and stop steaming the event.

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This man was beaten by Antifa and may have died from his injuries.

Inside Antifa there seems to be a strong racial motivation for attacks.b59577885ee3ef6d93f855de86faf85ac9156846a2b05821b708b67d20d9262a.jpg

 

President Trump, disgusted by the incident has threatened to withdraw federal funding.

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North Korea to join TPP

Hot on the heels of the USA announcing its withdrawal from the TPP, North Korea has announced its intention to join the TPP. The tersely worded statement from Pyong Yang stated “Now the imperialist pigs [USA] have withdrawn from the TPP, we feel it may be a welcoming forum to express our disgust for free markets by vexatiously suing member states and their major industries”

In celebration of the decision, the PLA put on a parade to the tune of Hall Oates “You make my dreams come true” in a mocking tribute to the USA’s withdrawal. Keen eyes will note Korea’s deceased former leader has been video edited into some of the footage. Viewers are advised that some of the people shown here may be have passed away, especially the one’s not paying attention on camera.

Golden towers not golden showers

towersnotshowers

Pissed off not pissed on, don’t get fooled by fake news.

Venezuelan Hyperinflation

The perfect storm is brewing in Venezuela. An over reliance on oil export revenue, a falling global oil price, and over a decade of poorly thought out socialist reforms have left the Venezuelan economy with rising inflation and unemployment. The Inflation is of course caused by the printing of money with no actual asset to back its value, once value production in the economy stalled, the inflation started and just accelerated.

Half of the remaining value of the Venezuelan Bolivar ( VEF ) could be destroyed this week if current trends continue.

venezuala-inflation-getty

This is what hyperinflation looks like at street level, shop owners begin to actually weigh money rather than count it, as its quicker. A pack of cigarettes may cost 20 notes. Higher denomination notes are being printed and ATM’s are running out of money in as little as 3 hours.

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The Bolivar  (VEF) has lost value to the US dollar (USD) significantly since oil revenues dropped, but now a spike in inflation may push Venezuela to crisis point. The official exchange rate from the ‘living in denial’ government has been 10 VEF :USD.

Bitcoin vs VEF

Bitcoin has played interesting roles in this crisis. This is probably the first serious hyperinflation situation during the existence of Bitcoin, and it has been used in many ways. For the IT savvy  people, Bitcoin has been a stable and lucrative job with some miners claiming to be making 1200 USD per day. The profitability of Bitcoin in Venezuela has been due to the fact that electricity is virtually free, and electricity is the largest cost associated with bitcoin mining. Bitcoin hasn’t been with out risks, as the government has attempted to crack down on miners, and in some cases corrupt secret police have extorted miners. Bitcoin profits have enabled some miners to escape the country, which they find to be an increasingly dangerous place to live in.

Bitcoin has also played the role as a safe haven from inflation, and a medium of exchange to get around the official exchange rate and official currency exchange rules, VEF:BTC and then BTC:USD. Bitcoin has also been a way to purchase and import scarce commodities from foreign countries, and when we say scarce we mean shampoo, toilet paper and toothpaste; that is how bad it has gotten. So it seems Bitcoin has shown its strength against a currency collapse. As long as there is internet and the rest of the world is not crumbling, Bitcoin could be the most convenient safe haven in a currency crisis. Of course in an economic collapse one should take steps to conceal ones source of wealth, as thieves and kidnappers are all to happy to take it away from you.

vef2016

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