Losses have continued on US stock markets this week in their worst performance since October 2008. The Dow Jones ended down 12.4% in a week that included Thursday's all time high single day point drop of 1191. The S&P 500 ended the week down 11.5% losing 3.2 trillion USD in market cap. The Nasdaq became 10.5% smaller this week.
The fact that nominally Swiss firm "Crypto AG" has been owned by the USG.CIA in partnership with the Germans is being blasted throughout the media today. The timing of the release is curious as the Iranians discovered Crypto Ag's subversion no later than 1992 and the obvious indicators were long available and obvious. Continue reading
The kleptocrats in Argentina have targeted online flea market Mercado Libre for looting (archived). The nominally Argentine firm, which does the bulk of its business in Brazil and Mexico while maintaining most of its offices in Delaware, is being targeted for its sale of Argentine treasury bills in the aftermath of "PASO" primary results triggering markets to punish Argentine derpery. Because Mercado Libre dumped the treasury bills before Macri gave voters what they wanted in a Peronist turn to keep their payment processing arm solvent, Mercado Libre CEO Marcos Galperin is being charged with "fraud against the state" by the Kleptocracy. Continue reading
A sudden 50% drop in hashpower on the BCH network this morning caused it to go 5.5 hours without producing a block (archived). Users likely didn't notice as the next block, 620026, contained only 2.3MB in transactions. The anomaly occurred just days after BCH communist party leaders announced, then seem to have rescinded, a plan to tax miners 12.5% of block rewards.
Roger Ver (WoT:nonperson) and Jihan Wu (WoT:nonperson), have announced a 6 month plan to implement a 12.5% tax on block rewards in order to fund development on their ailing forkcoin project. The developer tax will fuck the altcoin's protocol layer to orphan blocks by miners refusing to participate in the redistribution of wealth towards an entity known only as the "Hong Kong corporation" at press time. Details regarding who will receive funding and how supposedly remains under discussion. Some BCH miners have expressed displeasure with the tax, though BTC.TOP mining pool founder Jiang Zhuoer (WoT:nonperson) claims the issue isn't up for debate, going so far as to quote former Chinese communist party leader Deng Xiaoping in defense of the move:
Non-debate theory is my invention. Non-debate, is to gain time to work hard. When you debate, everything becomes more complicated and it wastes time. Nothing can be done. Don’t debate, and just try. Be brave and experiment.
Plans are for the mandatory tax to become effective on May 15 when their biannual hard fork "update" is scheduled.
Tensions are running high in Virginia as at least 6 would-be protesters have been arrested in advance of a rally in support of gun rights (archived). Demographic shifts in Virginia driven by hypertrophy in the USG have lead to a Pantsuitist government voted in by USG bureaucrats colonizing suburbs near DC to advance a whole number of measures objectionable to residents of the rest of the state. This demographic move towards an Illinois like political situation has many longtime Virginia residents very angry. Continue reading
Prices for Rhodium are climbing near 2008 all time highs (archived, archived). The brittle platinum group metal is primarily produced by South African and Russian operations while most trades typically involve producer to industrial user transactions without much of the "paper" market that flattens gold prices. This may be an early indicator that markets aren't inclined to value dollars like they used to. It could also suggest deep Afropessimism is setting in among Asian traders that may be stockpiling the material amid doubts South Africa can continue producing.
Reports continue to pour in documenting many cases where US mobile networks are increasingly controlled by folks other than those that happen to have their names printed on the papers (archived). Employees seem to be happy to take outside money and instructions while sheer organizational bulk makes resolving "Whose line is it anyway?" a very difficult question to answer.