Seriously – what’s so funny about a trillion dollar coin?

And when asked about his influence on British politics, the head of News Corp denied exerting pressure on politicians to further his business interests. And just how much influence has Murdoch had?
So what has been the impact of the scandal on Murdoch’s business?

“When confidence collapses the government steps in to prevent a disaster. In the confusion the bankers run off with the loot and, after a brief pause, start calling for governments to take action to reduce their unsustainable debts.”

The criminal justice systems throughout the region are not at the level they could be. They are dealing with transnational organizations, so there needs to be greater cross-border cooperation between relevant agencies
-Gerhard von Rooyen, UNODC’s Nairobi

Britain’s Chancellor of the Exchequer, George Osborne, has already indicated that some of the money conjured up by the Bank of England should find its way to small and medium-sized businesses, in a tacit admission that the financial sector in its current form cannot adequately support productive industry. Private and unaccountable control of the money supply – the very archetype of unconstitutional privilege – has failed and this failure is bringing misery to millions around the world.

It has since been followed by about 20 other states and the District of Columbia. Washington state is expected to follow Colorado’s lead.
The number of states approving marijuana for medical purposes has also been growing.
‘Public safety’
US Attorney General Eric Holder said last month that the administration was planning ways to accommodate marijuana businesses so they would not always be dealing in cash. California was the first in 1996.

Their control of the money supply has never been subject to democratic debate. But this shouldn’t blind us to the fact that they both rest on a cardinal simplicity – the money-creating power of banking institutions. It is doubtful that this control would survive any such debate. As protesters gather in the world’s financial districts, I hope they will be able to bring reform of the banking system out of the shadows.
The established order can cope with riots. No one is claiming that finance and economics aren’t complicated. It cannot cope with a reasonable conversation about the role of the banks in misallocating capital and creating crises. Those who profit from this underlying simplicity have had no great desire to enlighten the public.

> The Obama administration has sought to lessen the fear of prosecution for banks doing business with licensed marijuana companies, further encouraging US states such as Colorado and Washington that are experimenting with legalising the drug.

Individual banks may have difficulty identifying which state-licensed businesses would run afoul of the federal guidance, said Peter Djinis, a former regulatory policy official with FinCEN, now in private practice in Florida.

The guidance stopped short of promising immunity for banks, but made clear that criminal prosecution for money laundering and other crimes was unlikely if they met a series of conditions, officials said. The Justice and Treasury departments outlined the policy in writing to federal prosecutors and financial institutions nationwide, the Reuters news agency reported.

“Compliance by a bank will still require extensive resources to monitor any of these businesses, and it’s unlikely the benefits would exceed the costs,” Rowe said in an email to Reuters. Marijuana sales still violate federal law, so banks are still at risk, said Rob Rowe, a lawyer with the trade group.
“While we greatly appreciate the efforts by the Department of Justice and the Treasury’s Financial Crimes Enforcement Network (FinCEN), guidance or regulation doesn’t alter the underlying challenge for banks.”

The guidance would not protect banks from state laws, and if a wire transfer that moved marijuana-linked money touched a state where the drug is under strict control, a bank that handled the transfer could be open to state prosecution, experts in money-laundering said.

We know how much we have, more or less. For the most part we don’t think to ask where it comes from or what it is, in itself. But money itself escapes our calculations. We know what things cost and so we have some idea of what we can afford at any given moment. When we start thinking about the future, how long we might live and how much money we’ll need, we tend to want to think about something else. The advantages of having money and the consequences of having none loom so large that we seldom stop to wonder about money as such. I mean, we know what it can do.

All will be revealed in what follows. Today is as good a day as any to explain where money comes from and why it matters. Are you ready to know where money comes from, to know the truth jealously guarded from the dawn of recorded time? If you don’t know what that means or vaguely think it has something to do with “printing money”, it is probably because you don’t know what money is. On Thursday, the Bank of England announced another

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