In a straight to camera monologue, Daniel Pinchbeck asks “A recent article in Foreign Affairs proposes that Central Banks could just print money and give it to the people – particularly the bottom 80%. This is a startling idea, and it points to the need for a broader discussion around money as an instrument humans have created for exchanging and storing value. Do we need different tools for this, going forward?”
Tag Archives | Money
… Read the rest
It’s standard advice that parents should monitor what their young children do online. For many parents, that means having the computer in a public area so they can see what’s on the screen as their kids surf the web. But some police departments are pushing a far more intrusive option: installing spyware on your computer to monitor every single keystroke your children make.
An investigation by the Electronic Frontier Foundation has found that dozens of police departments around the country are distributing software called ComputerCOP. The software has two features. One is a search engine that lets parents search a computer’s hard drive for pornographic images as well as files relating to sensitive subjects such as drugs and violence. But the other is a keylogger, a program that records every key typed and sends it to a third-party server.
Police departments pay a few dollars per copy to ComputerCOP, and in return they get the software in customized packaging that prominently features the department that paid for the software.
… Read the rest
A Brooklyn, New York mortgage broker, who would scribble secret stock tips on napkins and pass them to an accomplice in Grand Central station before eating them, pleaded guilty to insider trading on Friday, federal prosecutors said.
Frank Tamayo, 41, was the middleman in what prosecutors called a three-man scheme that generated $5.6 million in illegal profits over five years, based on tips about a dozen transactions being negotiated by a prestigious New York law firm.
Tamayo, who had been cooperating with authorities, pleaded guilty to securities fraud, tender offer fraud, and conspiracy charges in the federal court in Trenton, New Jersey, according to U.S. Attorney Paul Fishman in New Jersey.
The defendant also agreed to forfeit more than $1 million, the contents of two brokerage accounts, and a 2008 Audi Q7. He faces up to 20 years in prison on the fraud counts.
This post originally appeared on the Huffington Post.
What is Pay to Play? Commonly held, pay to play is a form of getting a special deal because you paid someone off. Usually this is an indirect transaction, because of clear legal guidelines, and so creative ways are devised around long-standing common-sense laws prohibiting politicians from taking bribes. For instance, when Virginia Gov. Bob McDonnell was asked to testify in his corruption trial as to who gave him a lavish Rolex watch, the governor artfully suggested, “from Santa.”
But while the McDonnell tragicomedy may be the stuff of Lifetime movies, the reality is, there is not much difference from a first family taking goods to endorse a company than when a candidate for office takes thousands of dollars in campaign contributions from those who expect a personal return. And since the Supreme Court’s Citizens United decision removed limits to outside spending in elections, the TV ads that dominate political campaigns are basically unregulated as far as spending or disclosing who is paying for them.… Read the rest
Having money really can get you out of anything.
… Read the rest
It was a routine arrest, the kind Texas Public Safety officers like Trooper Jeffrey Davis make every day. But little did Davis know that the woman he had just booked for driving while intoxicated possessed a superhuman power. She wasn’t able to walk heel to toe. She couldn’t put her index finger to her nose if her eyes were shut. She even had a hard time keeping her head up. In other words, she failed the Standardized Roadside Sobriety Test that Davis administered the evening of Oct. 7, 2011 and was arrested.
Yet, she was Alice Walton, heiress to the Walmart fortune, a woman with a superhuman power at her disposal. The power to swipe-up artistic masterpieces prized around the world and horde them in backwater Bentonville, Ark. The power to keep an international payroll of three million people doing your bidding, under the boot of poverty.
Making money is art and working is art and good business is the best art.
We all know an artist who has amazing vision and the skills necessary to bring it to life. This person creates works of profound beauty that evoke strong, and at times complicated, emotional responses that effect our being in the world. We might feel a little dizzy as we realize our heads and hearts have been blown open by something that’s at once incomprehensible yet strangely familiar–like visiting our childhood home and seeing it painted a different color, with new trees planted where old ones once stood.
This is what great art does–it’s not something that, despite the best efforts of critics, can easily be explained with words. Perhaps that’s the entire point–the realness of the work must be experienced, up close, in real life. Unfortunately, many of the best artists we know never seem to get the chance to show their work beyond the cluttered confines of their studio space.… Read the rest
Does this sound familiar? You might be thinking of this totally different child molesting corporate heir escaping the consequences of his actions.
… Read the rest
A Wisconsin billionaire pled guilty to sexual assault of his stepdaughter, but was only sentenced to four months in jail on Friday. Samuel Curtis Johnson III, heir to the SC Johnson cleaning supplies empire, will have to serve at least 60 days of his sentence and pay a fine up to $6,000.
Originally, Johnson was charged with felony sexual assault of a child for repeatedly targeting his stepdaughter for three years. His stepdaughter initially told police Johnson was “a sex addict” and touched her inappropriately 15 to 20 times starting when she was 12 years old. She told her mother about the abuse in order to protect her younger sister, and Johnson confessed when the mother confronted him.
The felony charge carries up to 40 years in prison.
Who knew Bitcoin and other varieties of so-called cryptocurrency could be so interesting? Writing for CoinDesk, Ryan Walker, an independent consultant and cryptocurrency enthusiast based out of Denver, Colorado, joins the dots between Darwin’s theory of evolution, fiat money and the rise of cryptocurrencies:
… Read the rest
Charles Darwin first published his theory of natural selection in his book On the Origin of Species in 1859. The result of over 30 years of research, Darwin delivered to the world a new understanding of how modern species came to be, evolving over generations.
The son of a wealthy English family, Darwin was not a man in need of money. Nonetheless, for On the Origin of Species and his other publications, Darwin received royalties that were most likely paid in British Sterling.
Still in existence, the British Pound has origins dating back as far as 750 A.D. making it the world’s longest-surviving active currency.
Du Pont Family heir (and son of a very powerful retired attorney) Robert H. Richards IV received a slap on the wrist in 2008 after he pleaded guilty to raping his three-year old daughter: Eight years probation. The offense is normally punishable by up to 15 years in prison, but Delaware Superior Court Judge Jan Jurden‘s rationale for the extremely lenient sentence was that the 6’4″ 264 lb. millionaire “[would] not fare well” in prison.
Richards’ arrest and subsequent trial was not disclosed by the District Attorney’s office and received no media coverage, locally or nationally. The details of Richards’ case only came to the attention of the public this month after his ex-wife filed a civil suit against him on behalf of their two children. The suit alleges that Richards also molested their son numerous times over the course of two years, beginning when the boy was 19 months-old.… Read the rest
Robert Scott of the Economic Policy Institute has some ideas about how to end currency manipulation, posted at TradeReform.org:
… Read the rest
Growing trade deficits have cost US workers millions of jobs over the past two decades, (these were good jobs in manufacturing industries). Currency manipulation by more than 20 countries, of which China is by far the largest, is the single most important reason why U.S. trade deficits have not decisively reversed. Currency manipulation lowers the value of foreign currencies, relative to the U.S. dollar, which acts like a subsidy to their exports, and a tax on U.S. exports to China and every other country where the U.S. competes with the exports of currency manipulators.
In an era of fiscal austerity, ending global currency manipulation is the best way to reduce trade deficits, create jobs, and rebuild the U.S. economy, as shown in Stop Currency Manipulation and Create Millions of Jobs. Eliminating currency manipulation would reduce the U.S.