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Being in the wrong place at the wrong time can be a life-altering circumstance. To varying degrees, we've all experienced it, as well as its opposite, being in the right place at the right time. With that said, it is obvious that you can be in the right place at the right time as much as possible, but if that one wrong place, wrong time moment becomes the defining moment of your life, then so it goes. Still, some of us like to gamble. You never know when you'll hit the jackpot…
Speaking of gambling, after Charlie Shrem was arrested, I searched feverishly for a site to place bets on the next to bitcoin entrepreneurs to be arrested. My money was going on Karpeles. Alas, things have turned out a bit different thus far, with Mt. Gox going down for hours today and Karpeles still free (it's not a bet I would have liked to win). Bitcoin has fallen in price from $810 to nearly the $600 handle.
"Mt. Gox is dying." That's what everyone is saying, anyway. Withdrawals of bitcoins have been stopped. But for anyone following developments in the space, this comes as no surprise. Afterall, government has already wounded Mt. Gox.
The federal government seized $5 million dollars from the company for not registering as a money transmitter last summer. The company has expressed it is dealing with multiple investigations and suffering from being under the regulatory spotlight in the wake of bitcoin bursting into the mainstream in 2013. One thing is for sure, Mt. Gox has had many problems. The Dollar Vigilante has not recommended to its users Mt. Gox. It has consistently recommended other exchanges and, beyond that, for its readers to use personal wallets as opposed to online wallets.
But, with that said, we have to take Mt. Gox's overall situation into consideration. It exists in a world of governments and big banks, and both have major concerns over bitcoin exchanges like Mt. Gox. There is no doubt some people using Gox bought something on the Silk Road. This puts internal pressure on Gox. If anything this incident is a great example of why it is important to diversify. Diversify to the fullest extent. This is exactly what the TDV newsletter professes. That's the lesson of Mt. Gox. You live, you learn. Now we know more than ever: increase your chances of being in the right place at the right time, and decrease your chances of being in the wrong place at the wrong time.
Regards,
Justin O'Connell, Head Researcher, Dollar Vigilante
Welcome to Week In Review! Grab a coffee, put your feet up, and have a look at what happened this week through the filter of TDV! What a week: jingoism and pageantry exploding everywhere. The Super Bowl and the Olympics. A giant tax fueled flood of nationalism.
Sigh. Wake us when it's over.
If you’re interested in receiving articles beyond what you read here, consider our weekly subscriber-only publications, like our Issue, Dispatches, and Homegrown. You may subscribe here.
Here’s what we wrote about this week…
MONDAY, February 3
Super Bowl 2014 Indicates a Dramatic Change in Human Awakening
Jeff Berwick with a TDV look at the Super Bowl.
“The Super Bowl is and has been an audacious stage for the promotion of nationalism and war. But, this year, the tide turned against this controlled spectacle.
It caught even me off guard. I had tuned in, and was live tweeting the event, expecting to see more over the top, in your face, symbolism and outright propaganda about the state and worship of war… and there was plenty of that but this year things changed.
It started as I expected, with the ridiculous idea of an interview, for a sporting event, with the president, Barack O'Bomber, in the pre-game show. But, even this showed some change. Normally when they do this it is a love-fest and a completely scripted message from the president.”
TUESDAY, February 4
Berwick confronts the outspoken comedian/MMA analyst.
"Dear Joe,
As a listener and fan of your work for years, I've noticed that you've welcomed more and more anarcho-capitalists and libertarians (and good friends of mine), such as Stefan Molyneux, Adam Kokesh and Peter Schiff to the Joe Rogan Experience. You've also had other, more liberal guests on, many of whom were very interesting. Thank you for allowing all of us in on so many of your stimulating, fun conversations. Since some of your guests say that government is the answer to problems like85 individuals having more money than the next 3 billion people, I wanted to write to you to express that I couldn't disagree with this more.”
WEDNESDAY, February 5
US Towns Declaring Bankruptcy are the Lucky Ones
Wendy McElroy on the fortunate few towns getting out from under their debt.
"Bankruptcy is attractive to taxpayers because it offers a partial exit strategy by reducing public sector pensions and other benefits. But public sector unions have a death grip on the power politics of many, if not most, American cities.
What happened in Scranton should be a cautionary tale. Similar battles are erupting across the continent – from Stockton, California in the West to Heartland cities like Pittsburgh and to Trenton, New Jersey in the East. The reason is the same. The enormous unfunded liability of public sector wages and benefits makes taxes and fees soar even as government 'services', like garbage collection and street lights, decline. People flee if they can. But property values plummet, and so many must endure. This is especially true of Scranton in which an unusual number of residents are elderly and on fixed incomes.”
THURSDAY, February 6
Justin O’Connell on a frightening notion of what may be to come.
"Have you been one of those people who scoff when somebody mentions to you that the US government is capable of deplorable acts? Does it seem absurd to you when someone mentions that the government could build and use concentration camps against its own citizens?
Well, it turns out, the joke's on you. Concentration camps just went mainstream in the US.”
FRIDAY, January 31
Feedback Friday: February 7, 2014
In this week’s edition: World passports, Joe Rogan, bankruptcy, and more…
TDV VIDEO
This week’s featured video has Jeff discussing his background and the reasons why he thinks bitcoin can change the world by reducing government waste and offering more economic freedom to people all over the world as part of the Bitcorati Interview Series.
Have a look at our wide array of informative videos featuring interviews, opinions, and analysis on TDV’s media page.
TDV SERVICES
Don't forget, TDV is much more than a newsletter. We also offer many of the solutions to the problems we identify in the letter to help people internationalize their self and wealth to protect themselves from The End Of The Monetary System As We Know It (TEOTMSAWKI). Check out all our services designed to help you gain more freedom in your life here:
Remember, if you have any questions, concerns, or issues with what you've read on TDV, write us at: tdv@dollarvigilante.com.
Thanks as always for reading or subscribing!
Managing Editor
