State of New York Converts Digital Rights to Use Bitcoin into Privilege with a License for a Fee in Violation of Legal Precedence

The State of New York has converted Digital Rights –using Bitcoin, “virtual”-digital currencies and Block-chain technology– into a privilege with a License for a Fee.  The New York Department of Financial Services called it a BitLicense and is “required” for all businesses transacting Virtual Currencies like a bank.

The goal is to “regulate bitcoin and virtual currencies.”  However, there is nothing “legal” about virtual currencies.  Digital Currencies are entirely NON-LEGAL and only LAWFUL.  The NY-DFS has been sneaky about it too:

A business must obtain a BitLicense if it engages in virtual currency business activity involving New York State or persons that reside, are located, have a place of business, or are conducting business in New York.

Such regulation “shadow bans” all “STATE OF NEW YORK ARTIFICIAL PERSONS/CITIZENS” from various digital currency networks.   See The Real Cost of Applying New York BitLicenses.

Frost estimated the [BitLicense] application cost Bitstamp roughly $100,000, including time allocation, legal and compliance fees.

Continue reading State of New York Converts Digital Rights to Use Bitcoin into Privilege with a License for a Fee in Violation of Legal Precedence

Japan, Europe QE Programs Must Stop: ECB And BOJ Running out of Bonds to Buy for QE

Both ECB And BOJ Are Just Months Away From Running Out Of Bonds To Buy

With the Fed contemplating whether to hike again next month and start “normalizing ” its balance sheet before the end of 2017, the two other major central banks are facing far bigger problems.

Continue reading Japan, Europe QE Programs Must Stop: ECB And BOJ Running out of Bonds to Buy for QE