European storm and tidal surge cause evacuations and travel chaos

A major storm has hit northern Europe, leaving at least four people dead or missing, causing transport chaos and threatening the biggest tidal surge in decades.

Dozens of flights were cancelled or delayed in the Netherlands, Germany and Scotland, while rail services were shut down in several countries.

One of Europe's longest bridges - connecting Sweden to Denmark - closed.

Tens of thousands of homes were also left without power as the storm hit.

Winds of up to 228 km/h (142 mph) battered Scotland, where a lorry driver was killed when his vehicle was blown over near Edinburgh. At least two other people were injured by falling trees.

Police have confirmed reports that a man has been killed by a falling tree in Nottinghamshire, central England.
 

The storm has affected people across northern Europe, including Rotterdam where those venturing outside received a buffeting.
 

In Scotland, a lorry driver was killed when his vehicle blew over.
Credit to BBC

Jim Rogers Cautions "Be Prepared, Be Worried, And Be Careful... This Is Going To End Badly"

"Eventually, the whole world is going to collapse," Jim Rogers chides a disquieted CBC anchor as he explains the reality that, "we in the West have staggering debts. The United States is the largest debtor nation in the history of the world," adding that "this is going to end badly."

However, the co-founder of Soros' Quantum fund is convinced that thecommodity super-cycle is far from over, but driven by supply constraints (and cost increases) as opposed to demand from higher growth. The following interview provides more color on his commodity view as he re-iterates his bullish stance on Ag (with sugar a focus) and Natural Gas (some harsh natural realities coming), warning "don't get too excited about fracking," when he talks energy products.

Rogers, in his inimitable way, sums up the state iof euphoria that many markets find themselves in thus, "we are all floating around on a sea of artificial liquidity right now. This is not going to last."

On the end of the commodity super-cycle:

“Commodities have pulled back, but I would remind you that in all bull markets there are periods of correction.

In 1987 – during the great bull market in stocks – stocks went down 40 to 80 per cent around the world; again in 1989, 1990, 1994, etc. Every time people said the bull market’s over, but it wasn’t. I think that’s what’s happening with commodities now.”

On the next crisis:

"2008 was so much worse than 2000 because the debt was so much higher, you wait until 2014 or 2015 when the next crisis hits...

debt has gone through the roof, the next one's gonna be really bad"

His final words:

"Be prepared, be worried, and be careful"

Credit to Zero Hedge

400,000 year-old human DNA adds new tangle to our origin story......400,000-year-old human DNA adds new tangle to our origin story It's easier to believe in GOD

The oldest human DNA ever recovered is throwing scientists for a loop: The 400,000-year-old genetic material comes from bones that have been linked to Neanderthals in Spain — but its signature is most similar to that of a different ancient human population from Siberia, known as the Denisovans.

The researchers who did the analysis said their findings show an "unexpected link" between two of our extinct cousin species. Follow-up studies could crack the mystery — not only for the early humans who lived in the cave complex known as Sima de los Huesos (Spanish for "Pit of Bones"), but for other mysterious populations in the Pleistocene epoch.

"Ancient DNA sequencing techniques have become sensitive enough to warrant further investigation of DNA survival at sites where Middle Pleistocene hominins are found," the research team, led by Matthias Meyer and Svante Pääbo of Germany's Max Planck Institute for Evolutionary Anthropology, wrote in Thursday's issue of the journal Nature. ("Hominin" is the currently accepted term for humans and our close evolutionary cousins.)

As anthropologists are getting better at extracting DNA from ancient bones, genetic mysteries are cropping up more frequently: Last month, researchers at scientific meetings talked about not-yet-published findings that hinted at interbreeding among Neanderthals, Denisovans and previously unknown populations of early humans.

A new standard

The age of the mitochondrial DNA analyzed for the Nature study sets a new standard: Researchers used statistical analysis of the DNA and other samples to estimate that the material was roughly 400,000 years old. That meshed with the estimated age for similar DNA extracted from bear bones found in the same cave.

More than 6,000 human fossils, representing about 28 individuals, have been recovered from the Sima de los Huesos site, a hard-to-get-to cave chamber that lies about 100 feet (30 meters) below the surface in northern Spain. The fossils are unusually well-preserved, thanks in part to the undisturbed cave's constant cool temperature and high humidity.

Javier Trueba / Madrid Scientific Films
The thigh bone of a 400,000-year-old hominin yielded mitochondrial DNA for analysis.

Researchers drilled a series of tiny holes into the cracks in a human femur recovered from the cave to obtain nearly 2 grams (0.07 ounce) of powdered bone. At first, they looked for the signature of ancient nuclear DNA, which could have provided information about the genome of the individual behind the femur — but that information was overwhelmed by the signature of modern-day human contamination.

Then they turned their attention to the mitochondrial DNA, which lies outside the cell's nucleus and is passed down from a mother to her children. That strategy was more successful.

Unusual finding

Previous analysis of bones from the cave had led researchers to assume that the Sima de los Huesos people were closely related to Neanderthals on the basis of their skeletal features. But the mitochondrial DNA was far more similar to that of the Denisovans, an early human population that was thought to have split off from Neanderthals around 640,000 years ago. The first Denisovan specimens were identified in 2010, based on an analysis of 30,000-year-old bones excavated in Siberia.

The latest DNA analysis sent scientists scrambling for an explanation.


Credit to NBC

Russia needs Arctic presence to guard against U.S. threat: Putin

President Vladimir Putin said on Tuesday Russia had vital defense and economic interests in the Arctic, citing a potential U.S. military threat from submarine-based missiles there.

Russia detained 30 Greenpeace activists protesting against Arctic drilling at Russian Prirazlomnaya offshore platform in September and they now face charges carrying seven-year jail sentences, underlining Moscow's strong interest in the Arctic.

Putin has ordered a Soviet-era military base reopened in the Arctic as part of a drive to make the northern coast a global shipping route and secure the region's vast energy resources.

"Not only are there major economic interests for our country there...it is also an important part of our defense capability," Putin told a meeting of university students in Moscow.

"There are (U.S.) submarines there and they carry missiles," the Russian leader said. "It only takes 15-16 minutes for U.S. missiles to reach Moscow from the Barents Sea. So should we give away the Arctic? We should on the contrary explore it."

Nevertheless, Putin said Russia was unlikely to get involved in any global conflicts, particularly with the United States.

Russia, the world's largest country and its second biggest oil exporter, is vying with Canada, Denmark, Norway and the United States for control of the oil, gas and precious metals that would become more accessible if global warming shrinks the Arctic ice cap.

Moscow claims a whole swathe of the Arctic seabed, arguing that it is an extension of the Siberian continental shelf.

Answering questions from students, Putin stressed the need for patriotism - a common theme in his third presidential term in which he faces growing dissent and economic problems.

"If we want to keep our identity overall, we of course need to cultivate the patriotic sentiment," he said. "The country will not exist without it, it will fall apart from inside like a lump of sugar that has been dipped in water."

Russia initially accused the Greenpeace protesters of piracy but later softened the charges to hooliganism. Some activists had tried to scale the Prirazlomnaya platform operated by state-owned firm Gazprom. Russia's first offshore oil platform in the Arctic, it is expected to start production this month.

All 30 Greenpeace environmental campaigners were released on bail last month, but still face prison terms if convicted in a case that has drawn criticism from the West and is seen by Kremlin critics as part of a clampdown on dissent by Putin.

Russian geologists estimate the Arctic seabed has at least 9 billion to 10 billion metric tons of fuel equivalent, about the same as Russia's total oil reserves.

Credit to Reuters

Guardian journalists could face criminal charges over Edward Snowden leaks

Employees of The Guardian newspaper could face criminal charges over their role in publishing secrets leaked by Edward Snowden, Britain’s most senior counter-terrorism officer has signalled.

Cressida Dick, an assistant commissioner at Scotland Yard, confirmed for the first time that detectives were examining whether staff at the newspaper had committed an offence.

She also told MPs that her officers are looking at potential breaches of a specific anti-terrorism law which makes it unlawful to communicate information about British intelligence agents. The offence carries up to 10 years’ imprisonment.

Mr Snowden, who worked as a contractor for the US National Security Agency, stole 58,000 documents containing names and other personal details about British intellience operatives, as well as information about this country’s spying techniques and capabilities.

Security service chiefs have expressed concern that lives would be put at risk if the information fell into the wrong hands, and warned that terrorists and criminals are learning how to avoid detection thanks to articles which The Guardian has published based on Mr Snowden’s disclosures.

Miss Dick told the Commons’ home affairs select committee: “It appears possible, once we look at the material, that some people may have committed offences.

“We nees to establish whether they have or haven’t. That involves a huge amount of scoping of material.”

Asked by Michael Ellis MP if her team was investigating possible offences under a section of the Terrorism Act 2000 which makes it illegal to “elicit, publish or communicate” information about members of the intelligence services, Miss Dick said: “Yes, indeed, we are looking at that as a potential.”

Details of Scotland Yard’s inquiry emerged as The Guardian’s editor confirmed his newspaper had sent unredacted copies of the highly classified documents to other news organisations abroad.

Alan Rusbridger said: “In stuff that was transmitted we did some cleaning up but we did not clean up every one of the 58,000 documents.”

Mark Reckless MP asked the journalist: “Can I ask why you did not redact those names?”

Mr Rusbridger replied: “There were 58,000 documents.”

The editor also confirmed that a “small amount” of classified material was sent to journalists in the US using the courier company Federal Express.

Credit to The Telegraph

PENSIONS AT RISK NATIONWIDE AFTER RULING

NEW YORK – With dozens of U.S. cities struggling to cope with diminishing municipal tax revenues and rising city expenses, Detroit’s bankruptcy ruling sent shock waves through city employees and unions nationwide.

In a dramatic ruling Tuesday, U.S. bankruptcy Judge Stephen Rhodes said Detroit, the largest U.S. city ever to declare bankruptcy, is eligible to proceed with the city’s Chapter 9 filing. The decision clears the way for Detroit’s emergency manager, Kevyn Orr, to negotiate with approximately 100,000 creditors to bring the city out from under $18.5 billion in debt.

Moreover, Rhodes ruled that in reducing Detroit’s obligations to creditors, Orr is not required to give city pensioners a special, protected status under labor contracts with the city. That makes it virtually certain Detroit’s pensioners will receive sharp cuts in the retirement benefits they were promised under their labor contracts.

The Detroit Free Press reported Tuesday that Detroit’s 23,500 retirees were shocked and dismayed Judge Rhodes ruled the U.S. Constitution trumps Michigan’s constitution. The judge rejected an argument advanced by attorneys representing city pensioners that a clause in the Michigan constitution prevented pension benefits from being cut in a Chapter 9 filing.

“Pension benefits are a contractual obligation of a municipality and are not entitled to any heightened protection in bankruptcy,” Rhodes said.

The ruling put on notice cities with unfunded pension liabilities and pension benefits for municipal employees. Unlike corporate pensioners protected from loss by the federal Pension Benefit Guarantee Corporation, no protection from cuts will be afforded by clauses in a state’s constitution that may have been drafted to protect state and municipal employees against federal law in bankruptcy situations.

“I think it’s hugely important,” Robert Novy-Marx, an associate professor of finance at the University of Rochester’s Simon Business School, told the Detroit Free Press.

“In terms of the legal landscape, it clarifies the fact even pension benefits can be impaired. That very much changes the conversation that workers and municipalities are going to have going forward. Up until now, the workers have said we’re going to get paid no matter what. We’re not going to negotiate.”

Michigan Attorney General Bill Schuette joined labor unions representing Detroit municipal employees in vowing to appeal the ruling, the newspaper reported.

Detroit’s city pension funds are short by $3.5 billion, Fox News reported.

Typically, municipal bankruptcy filings are relatively rare, according to Governing.gov, a website devoted to tracking state and local government management. California leads the list with four municipal bankruptcy filings in recent years. The city of Vallejo filed for bankruptcy protection in 2008, followed by Stockton and Mammoth Lakes filing for Chapter 9 last summer. San Bernardino followed suit in August.

Governing.gov suggests many cities are deterred from filing Chapter 9 because of adverse consequences that are difficult to overcome. They include the downgrading of credit ratings, a process that can be both lengthy and costly, and the long-term negative implications impeding an area’s future economic growth.

Only 13 cities, according to Governing.gov, have pursued Chapter 9 filings over the past five years, adding up to only one of every 1,668 eligible localities, or 0.06 percent of all U.S. cities.

Some cities, such as Camden, N.J. – a city of 77,000 adjacent to Philadelphia that is one of the poorest in America after losing several major manufacturing firms – has survived financially without having to file for bankruptcy only because the state of New Jersey has provided hundreds of millions of dollars in loans, grants and direct aid over the past few years.

A study by the Pew Charitable Trusts reported in July found that fewer than half the states have laws allowing them to intervene in municipal finances. Practices vary among the 19 states that have intervention programs, with most intervening in municipal finances only in reaction to a financial crisis.

Occasional success stories can be found.

In August, Michigan Gov. Rick Snyder announced that the financial emergency in the city of Pontiac was over after successful efforts by the city’s emergency manager, Lou Schimmel, to reduce city debt from $115 million in 2011 to $28 million in May 2013. Pontiac reduced the number of city employees from more than 500 six years ago to 20 currently (excluding courthouse workers), reduced annual general fund expenses from $57 million six years ago to $28 million in fiscal year 2012-2013 and sold the city’s golf course to private operators.

In September, Moody’s listed Chicago at the top of a list of U.S. municipalities facing financial insolvency because of unfunded pension liabilities.

Moody’s downgraded Chicago to A3 in July because the city faced pension liabilities that were 678 percent of the city’s operating revenues as of fiscal 2011.

Among the top 10 municipal entities rated by Moody’s as struggling with financial insolvency because of high unfunded pension obligations, along with Chicago, were Jacksonville, Fla.; Houston, Texas; and Dallas, Texas.

Read more at http://www.wnd.com/2013/12/pensions-at-risk-nationwide-after-ruling/#LKjgBTHkdxF7QigK.99

Police body cameras in full effect

Britain's War on Press Freedom

Press freedom is too important to lose. The right to express thoughts and opinions freely is fundamental. Without it all others are at risk.

It's being assaulted in America. It's at risk in Britain. Both countries are democracies in name only. Britain has no constitutional free expression right.

Police state ruthlessness threatens America's First Amendment. Waging war on freedom is official policy in both countries.

They're partners in crime. Modern technology makes it easy. Ordinary people are targeted. So are newspaper editors and columnists.

Alan Rusbridger is London's Guardian's editor-in-chief. Last August, he discussed real dangers reporters face. He was contacted by an official claiming to represent Prime Minister David Cameron's office.

Two meetings followed. Demands were made. He was ordered to destroy all material related to Edward Snowden revelations. Implicit threats were made.

Rusbridger called what happened "one of the more bizarre moments in the Guardian's long history."

At stake is press freedom. It remains so. Rusbridger got an ultimatum. He didn't risk its potential dark side by not complying.

Two Government Communications Headquarters (GCHQ) security experts oversaw the destruction of Guardian hard drives.

Whitehall appeared satisfied at the time. Rusbridger called what happened "pointless symbolism." Digital age technology makes cyberspace forever.

Once out, content can't be erased. It wasn't the end of the story. Parliament wanted its say. MP grilling followed.

Rusbridger was ordered to appear. On December 2, he did so. On December 3, the broadsheet headlined "Guardian will not be intimidated over NSA leaks, Alan Rusbridger tells MPs."

He said he "would not be put off by intimidation nor (would Guardian policy) behave recklessly."

Snowden documents generated a much needed debate. People have a right to know. Government officials need to be held accountable. Wrongdoing needs to be exposed. Press freedom is vital to do it.

Home affairs select committee MPs grilled Rusbridger for an hour. He confronted "MPs' bluster without raising a sweat, said the Guardian.

He was asked "Do you love your country?" Truth, full disclosure, adherence to rule of law principles, and equal justice for all matter most.

"We live in a democracy," said Rusbridger. "(M)ost of the people working on this story are British people who have families in this country, who love this country."

I'm slightly surprised to be asked the question but, yes, we are patriots and one of the things we are patriotic about is the nature of democracy, the nature of a free press and the fact that one can, in this country, discuss and report these things.He said Snowden document disclosures generated much needed global debate.

"...I can't think of a story in recent times that has ricocheted around the world like this has and which has been more broadly debated in parliaments, in courts and amongst NGOs," he said.

It's a vital debate. Rusbridger said the Guardian consulted with US and UK officials more than 100 times before publishing stories.

Nothing damaged national security or put British lives at risk, he stressed. News organizations publishing Snowden documents provide a public service.

"It's self-evident," said Rusbridger. "If the president of the US calls a review of everything to do with this and that information only came to light via newspapers, then newspapers have done something oversight failed to do," he stressed.

The Guardian was put under enormous pressure. Intimidation was tough to take. These things are inconceivable in real democracies. Police states operate this way.

An unidentified US Senate intelligence committee member told Rusbridger:

"I have been incredibly impressed by what you have done...I have seen nothing that you have done that has caused damage."

Big Brother Watch director, Nick Pickles, said:

Newspapers around the world, from the Guardian to the Washington Post and Der Spiegel, have done what our own parliamentary oversight committee and other oversight bodies failed to do: they exposed unprecedented surveillance being undertaken without the knowledge or approval of our elected representatives.
Spies spy, but they should not be able to write their own rules, exploiting woefully out-of-date legislation to collect information on millions of innocent people.
If the three intelligence chiefs had previously faced anywhere near as rigorous cross-examination then perhaps we would not have been so dependent on the Guardian and other newspapers to learn just how out of control surveillance had become.Ben Emmerson is UN Special Rapporteur on Counter Terrorism and Human Rights. On December 2, his op-ed headlined "It's outrageous to accuse the Guardian of aiding terrorism by publishing Snowden's revelations."

Rusbridger "published nothing that could be a threat to national security," he said. He's launching an investigation. Recommendations will follow next fall before the General Assembly.

Serious issues are at stake. Free society rights are being challenged.

Emmerson said he "studied all the published stories that explain how new technology is leading to the mass collection and analysis of phone, email, social media and text message data; how the relationship between intelligence services and technology and telecoms companies is open to abuse; and how technological capabilities have moved ahead of the law."

These issues are at the apex of public interest concerns.
The astonishing suggestion that this sort of journalism can be equated with aiding and abetting terrorism needs to be scotched decisively.
Attacking the Guardian is an attempt to do the bidding of the services themselves, by distracting attention from the real issues.Responsible media need to hold governments accountable. It's a fundamental free press responsibility.

Wrongdoing needs to be exposed. Accountability must follow. Anything less is unacceptable. Law, order, justice and public interest matter most.

Frank La Rue is UN Special Rapporteur on Freedom of Expression. Ahead of Rusbridger's grilling, he expressed alarm, saying:

I have been absolutely shocked about the way the Guardian has been treated, from the idea of prosecution to the fact that some members of parliament even called it treason.
I think that is unacceptable in a democratic society.
When you are in public office you understand that the role of the press is to investigate things that are done right or things that are done wrong and make it known to the public."
And if you are in office you know that you come under public scrutiny and public scrutiny comes with public criticism and you cannot use national security as an argument and much less challenge as treason something that is informing the public, even if it is embarrassing information for those that are in office.Vincent Peyregne heads the World Association of Newspapers and News Publishers (WAN-IFRA).

"We are concerned that these actions not only seriously damage the United Kingdom's historic international reputation as a staunch defender of press freedom, but provide encouragement to non-democratic regimes to justify their own repressive action," he said.

On November 14, New York Times editors headlined "British Press Freedom Under Threat," saying:

Britain has no constitutional guarantee of press freedom. Parliamentary committees and the police are now exploiting that lack of protection to harass, intimidate and possibly prosecute The Guardian newspaper for its publication of information based on National Security Agency documents that were leaked by Edward Snowden.
The New York Times has published similar material, believing that the public has a clear interest in learning about and debating the NSA's out-of-control spying on private communications. That interest is shared by the British public as well.Rusbridger said the Guardian published 1% of Snowden provided documents. "I would not expect us to be publishing a huge amount more," he added.

He doesn't know if he or the Guardian is being investigated by police. Assistant Chief Commissioner Cressida Dick said investigations are ongoing.

They involve possible breaches of Britain's Terrorism and Official Secrets Act. It's draconian. It lets police detain anyone for any reason or none at all.

Confiscating their possessions is permitted. Detainees must answer questions with or without counsel. Tony Blair's government initiated the law.

It reflects police state harshness. Blair claimed it necessary to wage war on terror. He lied saying so. It helped turn Britain more than ever into a mass surveillance state.

Draconian US laws did the same thing. Law and order don't exist in either country. Police state repression replaced them. Terrorism is what both countries say it is. Lies substitute for truth.

Guilt by accusation is policy. Political imprisonments are commonplace. Democracy is more illusion than reality. Justice is a four-letter word. Mass surveillance threatens everyone.

Challenging free expression risks losing it altogether. Truth telling and dissent increasingly aren't tolerated. Whistleblowers exposing government wrongdoing are called threats to national security.

Obama heads the worst of rogue governance. Britain's David Cameron is a willing junior partner. Police states operate this way. Freedom is at risk of disappearing altogether.

Credit to Activist Post

This Is How The NSA Is Tracking You This Instant

That little "entertaining" cell phone in your back pocket, which you are so addicted to thanks to all its apps, videos, messaging function and all other cool bells and whistles, that you can't possibly live without? It is simply the definitive NSA tracking beacon used to find where you are at any given moment. The following infographic explains how the NSA does just that...

Credit to Zero Hedge

We Are Under A Hardcore Obama Dictatorship

Greenspan Baffled Over Bitcoin 'Bubble': "To Be Worth Something, It Must Be Backed By Something"

"In order for currencies to be 'exchangeable' they have to be backed by something," is the remarkably ironic initial comment from none other than debaser-of-the-entirely-fiat-dollar Alan Greenspan when asked about the "bubble in bitcoin," by Bloomberg TV's Trish Regan. 

Unable to "identify the intrinsic" backing of Bitcoin (or see bubbles in equity, credit, real estate, or greater fools) Greenspan is, apparently, capable of identifying Bitcoin "as a bubble," because "there is no fundamental means of "repaying' it by any means that is universally accepted." The farcical double-speak continues as the Maestro does a great job of making Bitcoin (which Ron Paul earlier noted could be the "destroyer of the dollar") look even better than the readily-printed fiat we meddle with every day.

Greenspan explains...

"when we were on the gold standard, [currencies] had intrinisc value which made people willing to exchange their goods and services with no question."

"Alternatively, when we went into "currencies", it was the "backing" of the issuer of the currencies... whose "great credit-standing meant his checks could circulate as money.""

So either its backed by real physical metal with intrinsic value - or the promise of someone...(increasingly politicians of course) with good credit (or a big army)?

"I do not understand where the backing of Bitcoin is coming from. There is no fundamental means of "repaying' it by any means that is universally accepted."

Like fiat currencies (just ask the Venezuelans)...

"Individuals with very high net worth and great reputations could create their own currency... because people would be willing to exchange their checks with each other at par."

So coming soon the BuffettCoin or MuskCoin (oh wait reputation), or the GatesCoin?

But, Greenspan sums it all up...

"I haven't been able to identfy the intrinsic value of Bitcoin- maybe someone else can...

but if you ask me if this is a bubble in bitcoin... yeah it's a bubble.

Which ironically (perfectly circular) is exactly what Bernanke said about gold...

• BERNANKE SAYS `NOBODY REALLY UNDERSTANDS GOLD PRICES'

So - after that - go buy his book!?

And some more color from Ron Paul on Bitcoin as "destroyer of the US Dollar":

Via Mike Krieger's Liberty Blitzkrieg blog,

While we believe it is the Federal Reserve that is systematically destroying the US dollar, Bitcoin could merely be the preferred conduit through which fed up citizens decide to express their displeasure with the incredibly corrupt corporatist-facist state being shoved down our throats by a handful of insane and greedy oligarchs. Interesting comments nonetheless. From CNN Money:

Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today’s money worth less tomorrow.

The digital currency Bitcoin promises all these things. And while it’s far from achieving any of them — its value is unstable and it’s rarely used — some have high hopes.

“There will be alternatives to the dollar, and this might be one of them,” said former U.S. congressman Ron Paul. If people start using bitcoins en masse, “it’ll go down in history as the destroyer of the dollar,” Paul added.

It’s unlikely that Bitcoin would replace the dollar or other government-controlled currencies. But it could serve as a kind of universal alternative currency that is accepted everywhere around the globe. Concerned about the dollar’s inflation? Just move your cash to bitcoins and use them to pay your bills instead. Tired of hefty credit card fees? Bitcoin allows transactions that bypass banks.

“That’s the holy grail for people who believe in freer markets and currency,” said Adam Gurri, a libertarian economics writer in New York.

There are no middlemen charging fees to move money between users. You can transfer bitcoins — even infinitesimally small fractions of one — directly to others’ digital wallets.

But don’t expect governments and banks to let Bitcoin take over so easily. Financial institutions will lose business if people stop using their payment systems, and central banks like the U.S. Federal Reserve would lose their ability to help slow and speed up economic activity. Paul expects banks to lobby and authorities to crack down.

“Governments absolutely demand a monopoly on money and credit. They’re not going to give it up easily,” Paul warned. “They will come down hard.”

Interesting times…

Credit to Zero Hedge

Fukushima Crime Syndicate & Nuclear WatchDogs gangsters