SEC Denies A Second Application To List Bitcoin Product

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

SEC denies a second application to list bitcoin product

By Trevor Hunnicutt | NEW YORK

The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.

The SEC announced in a filing its decision denying Intercontinental Exchange Inc’s NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset’s price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss.

“The Commission believes that the significant markets for bitcoin are unregulated,” the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc’s Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade.

“We are reviewing the SEC’s order and evaluating our next steps,” said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment.

Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset.

But after denial of the Winklevoss-proposed ETF, the digital currency’s price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day.

Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments.

There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC’s Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year.

(Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman)

The Stock Market And Local Politicians Are The Financial Death Of The Working Class?

 

I was born into a poor mostly all white hard-working, low-income, sweatshop factories class of people. Most are very good people who were just trying to survive at more than a week to week clip. Most of those parents back in those days did at least a fair job raising their kids. Now almost all of their children are in their 30’s or 40’s and they are in a financial life pushed upon them by others. I’m just sitting down to have a powwow with you, if you care to read my thoughts. Most articles I write I do so with the intent of getting my readers to expand their own thoughts. Some do not like what I write, I do not ever expect everyone to agree with me and my thoughts. But if I can once in a while bring a better light to a subject, that’s all I am trying to do.

 

Here I am going to speak with you about how it is America’s local politicians who are ruining the financial lives of the very people who voted them into office. I guess it is global human issue, Politicians always need more money to pay their bills each month than what they have in the bank. Each year they increase the value all of the local properties 3,4,5,10,20%–basically, whatever the City Council thinks it can get away with. Even when the Politicians work together and use those tax revenues for the soul good of the tax payers in projects like road upkeep, new sewage lines and consistent trash pickup. Yet it is the property owners who are taking a financial hit. Now all people who rent any property have to pay more each month, each year, for a property that in most cases didn’t change any from the year before. Now people and the Government have more money to borrow and to spend, which keeps raising the prices of everything, not just land. But then again it is now a reality that there are many millions of people who have been priced out of the ‘Housing Market’. If you buy a house to be a rental income house and your payment on your loan is $1,000.00 per month what would a monthly rental payment have to be to make that investment worth the owner’s time? I’m guessing the local economy dictates what the logical price will be. Now let’s say you bought the property and you are going to ask $1,300.00 rent. Trouble is, in most economies here in America housing cost which is triggered by local politicians greed/need for more revenue has become beyond the reach of millions within the working class. Shouldn’t any given city, county, state be required to have minimum wage laws that matched up with what the cost level is of the ‘poverty line’. It should not be legal anywhere for a person to work a 40 hour week and not make enough money to get ‘up to’ the Poverty Line. The Poverty Line should be the minimum wage…I’m just saying, I think that is fair.

 

The Stock Market, there is so much I could say about this world-wide scam. Think about these facts for a moment, then you will see why I am not a fan of this system of things.There is always speculation which of course feeds the fires of higher profits. When two companies merge the value of their stock tends to go up because you know that pretty soon they will downsize their staff and fewer employees to have to pay wages and benefits to equals more profits to the stockholders. When a company that is on the stock market closes its factory in Tennessee and moves it to Mexico for the cheaper ‘costs per unit’, the value of the company/stock value goes way up, even though all of those hundreds of families in America lost their income. When companies do this it is all about profits, period! When a company closes up its factories in the U.S. to move it to China or Vietnam is there ever a case when these new toys now made in China cost so much less for the consumer back here in America? NO, you keep the same high prices and the profits go to the stockholders and the bonuses to the B.O.D.. Who loses out? The American worker. By no means are these problems singular to the U.S., these issues exist everywhere there are politicians with too much power, and a Stock Market. Yes the few can get very wealthy, but the vast majority stay broke, just think of the addicted gambler, living in Vegas! A few for a while see the bright sunshine, but almost all will spend almost all of their time, just trying to survive.

Canada Is Going to Legalize Marijuana in 2018

(THIS ARTICLE IS COURTESY OF TIME)

Canada Is Going to Legalize Marijuana in 2018

Mar 27, 2017

(TORONTO) — Canadians should be able to smoke marijuana legally by July 1, 2018, a senior government official said Monday.

Prime Minister Justin Trudeau’s Liberal government will introduce legislation to legalize recreational marijuana the week of April 10th and it should become law by July next year, said the official, who spoke on condition of anonymity due to lack of authorization to discuss the upcoming legislation.

Trudeau has long promised to legalize recreational pot use and sales. Canada would be the largest developed country to end a nationwide prohibition of recreational marijuana. In the U.S, voters in California, Massachusetts, Maine and Nevada voted last year to approve the use of recreational marijuana, joining Colorado, Washington, Oregon and Alaska. Uruguay in South America is the only nation to legalize recreational pot.

Justice Minister Jody Wilson-Raybould declined to confirm the dates provided by the official, but said in a statement the government is committed to introducing legislation this spring that would “legalize, strictly regulate, and restrict access to cannabis.”

“This will be done in a careful way to keep it out of the hands of children and youth, and to stop criminals from profiting,” the statement said. “In order to meet our commitment to legalize, the legislation will need to pass through the parliamentary process in a timely fashion.”

The news was noticed online by Snoop Dogg , who tweeted “Oh Canada!”

The Canadian government is expected to follow the advice of a marijuana task force headed by former Liberal Health Minister Anne McLellan as well as the advice of former Toronto Police Chief Bill Blair, who is the parliamentary secretary to the justice minister. Blair has been visiting police departments across the country.

The task force recommended adults be allowed to carry up to 30 grams of pot for recreational purpose and grow up to four plants. It also recommended that higher-potency pot be taxed at a higher rate than weaker strains. It also said recreational marijuana should not be sold in the same location as alcohol or tobacco. Under the task force proposals, alcohol-free cannabis lounges would be allowed.

The panel’s report noted public health experts tend to favor a minimum age of 21 as the brain continues to develop to about 25, but said setting the minimum age too high would preserve the illicit market.

Canadian youth have higher rates of cannabis use than their peers worldwide.

While the government moves to legalize marijuana retail outlets selling pot for recreational use have already been set up. Trudeau has emphasized current laws should be respected. Police in Toronto, Vancouver and other cities raided stores earlier this month and made arrests.

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The New World Order: The Three Sides Of The Republican Party Emerge, Will The Democrats Be Next?

 

I have only one blog site where I do regular poles and that is with YouGov. In the past eighteen months or so I believe that I have been asked the same question about four times, that being, do I believe Donald Trump to be conservative, moderate or liberal. I am a person that am a registered voting (when allowed) independent and I vote that way. I said ‘when allowed’ because in my home state if you are registered as an independent then you can not vote in any Primaries. Back to Mr. Trump, my answer has always been, moderate. Mr. Trump is caught up in the more center of the Republican Party, not being a true conservative nor is he a liberal. Yes these same divisions exist within the Democratic also. I like most Americans I believe are just totally fed up both Parties BS and we the people want the politicians to meet in the middle and get this Country moving to the good of everyone. Mr. Trumps Health Bill sank because of the Republican Party, it wasn’t the Democrats this time that screwed things up for the Republicans, it was the Republicans who messed it up, all by themselves. The Democrats just sat back and watched the show. If there are wise ones within the Democratic Party they know this ‘descent’ within the Party can strike them just as easily. If Both major parties are broken into 3 parts 30% on each end which equals 60% and in both Parties the Central equal to 40%. Like a coalition within each Party to see if the Conservatives are still the soul of the Republican Party or if the far right Liberals like Hillary and Pelosi are still the straw that stirs the Democratic Party. As an old but dear friend used to say “we shall see what we shall see.”

New rules go into effect for the Social Security Administration

Source: New rules go into effect for the Social Security Administration

Cyclone Debbie Category 3 Cyclone To Land In Northeastern Australia

(THIS ARTICLE IS COURTESY OF CNN)

(CNN) Thousands of residents in Queensland, in northeastern Australia, have been ordered to leave their homes as severe Tropical Cyclone Debbie approaches, bringing with it powerful winds and heavy rain.

The storm continued to intensify as it approached landfall, becoming a Category 3 cyclone, according to the Joint Typhoon Warning Center. It’s expected to make landfall near the town of Ayr late Tuesday morning, according to the Australian Bureau of Meteorology.
Cyclone Debbie is forecast to pack gusts of up to 150 mph (240 kph), as well as flash flooding and storm surges as high as four meters.
Queensland Premier Annastacia Palaszczuk said that 3,500 residents had already been evacuated.
An additional 2,000 people have been ordered to evacuate in the Bowen area, as the cyclone has tracked farther south than originally predicted, she added.

Officials predict cyclone will be ‘nasty’

Some residents are refusing to leave their home, Palaszczuk said, with police going door to door in a final attempt to get people to safety.
“This is going to be a nasty cyclone,” Palaszczuk told reporters on Monday morning.
“There is no time for complacency … the window of opportunity to leave is drastically closing,” she said. “I am just pleading to everyone, please, listen to authorities. This is about your safety, it is about the safety of your family and the safety of your children.”
Cyclone Debbie is the largest storm to hit Queensland since the Category 5 cyclone Yasi in 2011, which ripped homes from their foundations and destroyed farmland. Debbie could end up being as severe as Yasi, Palaszczuk warned.

Storm surge

After Trump’s difficult courtship last year, Pence ushers in the AIPAC honeymoon

As pro-Israel lobby meets, there are public displays of great affection, private talk of deep US-Israel coordination, and a long, unpredictable road ahead

Source: After Trump’s difficult courtship last year, Pence ushers in the AIPAC honeymoon

In Washington, Bennett meets US peace envoy on Palestinians

PM, Kahlon meet for second time in a day as tensions simmer; Russian police arrest 700 at anti-corruption rally

Source: In Washington, Bennett meets US peace envoy on Palestinians

Fearing curbs on the way, Israeli tech firms speed up US visa bids

Relocation candidates push forward visa requests, flock to immigration lawyers amid uncertainty about Trump policies

Source: Fearing curbs on the way, Israeli tech firms speed up US visa bids

Report: Hundreds arrested at anti-corruption protests in Russia

(THIS ARTICLE IS COURTESY OF CNN)

Report: Hundreds arrested at anti-corruption protests in Russia

Protesters clash with Russian police 01:33

Story highlights

  • Hundreds of arrests reported at the Moscow demonstration
  • Protests come in wake of killing of a vocal Putin critic in Ukraine

Moscow, Russia (CNN)Prominent Russian opposition figure Alexey Navalny was detained during an anti-corruption protest in the heart of Moscow on Sunday, according to tweets by Navalny and his press secretary.

Navalny downplayed his detention in a series of tweets and encouraged protesters to keep marching.
“Today we are discussing (and condemning) corruption, not the detentions. Well, I was detained. So what. It OK. There are things in life that are worth being detained for,” Navalny tweeted.
Similar demonstrations were planned in 100 cities across Russia on Sunday, according to organizers. Tass, a state-run news outlet, reported that 8,000 people attended the protest in Moscow.
Hundreds of arrests were reported at the Moscow protest. Russian human rights group OVD-Info tweeted that more than 700 had been detained — while state-run news agency Ria Novosti said 500 had been held.

Police detain a protester in central Moscow on Sunday.

“The United States strongly condemns the detention of hundreds of peaceful protesters throughout Russia on Sunday,” acting State Department spokesperson Mark Toner said in a statement. “We were troubled to hear of the arrest of opposition figure Alexei Navalny upon arrival at the demonstration, as well as the police raids on the anti-corruption organization he heads.”
Toner said, “Detaining peaceful protesters, human rights observers, and journalists is an affront to core democratic values.”
The protest drew a heavy police presence but remained largely peaceful. Riot officers flanked crowds while plainclothes officers moved among the demonstrators. Police told those on the street that the protest was unsanctioned and asked them to move on.
Navalny praised turnouts for the protests in early morning tweets. “Far East started fine,” he tweeted, referring to a photo of protesters gathering in the city of Vladivostok, located on Russia’s far eastern coast. Navalny also shared photos and tweets from various parts of the country.

‘He is not your Dimon’

The protests are part of a campaign called “He is not your Dimon,” which uses the diminutive form of the Russian name Dmitry to refer to Prime Minister Dmitry Medvedev.
Navalny has accused Medvedev of amassing a global property empire through various forms of corruption.
In a report published on March 2, Navalny said Medvedev has a portfolio of assets including “huge pieces of land in the most sought-after regions, yachts, apartments in old mansions, agricultural complexes and wineries in Russia and abroad.” Navalny’s report claims this was all purchased through “bribes from oligarchs, and state bank loans.”
Medvedev’s spokeswoman, Natalya Timakova, told state-run news agency RIA Novosti, “It is pointless to comment on the propagandistic outbursts of a convicted opposition figure, who has already announced he is running some kind of election campaign and fighting against the authorities.” Kremlin spokesman Dmitry Peskov called the report “not the first creative effort from this well-known convicted citizen,” according to Tass.

Moscow protest in sight of Kremlin

Protesters in Moscow walked along Tverskaya Street, one of the city’s main arteries that starts at the Kremlin walls. “I can’t support our government, really,” one protester said. “They steal our money using their power.”

Opposition supporters take part in an unauthorised anti-corruption rally in central Moscow on Sunday.

The Moscow Police Department put out a statement Thursday urging people not to attend, calling it illegal and warning of a high risk of “provocative acts, designed to violate public order.” Police said the organizers of the event were offered an alternative location but declined. The Kremlin said Friday the event was “illegal” and a “provocation.”
Navalny, who rose to prominence during the large-scale anti-government protests in Russia in 2011, has announced he plans to run for the Russian presidency in 2018. In February, he was found guilty of embezzlement in a retrial of a case that dates back to 2013. Russian law prevents convicted criminals running for public office, but Navalny has appealed the verdict.
Sunday’s demonstrations come at a time when the safety of critics of Vladimir Putin is under scrutiny. On Thursday, former Russian lawmaker and vocal critic of the Russian government Denis Voronenkov was shot dead outside a luxury hotel in the Ukrainian capital Kiev.
Navalny has not commented on the killing. CNN has contacted him for comment.