August 24, 2026

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PBoC Continues Its Crackdown on Cryptocurrencies in Aggressive Fashion

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PBoC Continues Its Crackdown on Cryptocurrencies in Aggressive Fashion

PBoC Continues Its Crackdown on Cryptocurrencies in Aggressive Fashion China remains a very interesting place when it comes to cryptocurrencies. Although the People’s Bank of China has made CNY-based trading impossible, the bitcoin price hasn’t suffered too much as a result. In fact, the bitcoin price showed some signs of life this week, even though the PBoC plans a…

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The Useful And The Useless

zerohedge.com / by Tyler Durden / Mar 24, 2017 5:45 PM

Authored by Robert Gore via Straight Line Logic blog,

The battle lines are forming.

You’re standing on the prow of an ocean liner cutting through the icy waters of the North Atlantic. A huge iceberg looms dead ahead. You’ve seen it for some time, but now it’s too close, and the liner too big and fast, to avoid the collision. You quietly make your way to the lifeboats, knowing they’re the only chance for saving yourself and your loved ones. Below decks, an orchestra plays a waltz and oblivious revelers dance.

Most people don’t foresee the world’s inevitable collision with the iceberg of unsustainable fantasy. When it happens, they’ll respond predictably, with panic and cowardice. Those who’ve seen it coming and moved to the lifeboats will experience their own roiling emotions, attenuated by recognition of the logic behind the disaster. While the forewarned have dreaded impact, many will also welcome it, in the way one welcomes an unpleasant medical procedure: let’s get it over with. The motive is not malice, but conviction born of experience that actions have consequences and there’s no escaping them. After seemingly inexplicable and interminable delay, consequences shall arrive, amplified by the tawdry stratagems that promoted delay.

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