[video] What is Bitcoin?

If you have not heard of Bitcoin you have not been paying much attention to financial news of late concerning the internet and the sea of changes that have been taking places. Well take the first step and watch this video on Bitcoin and learn a thing or two about this new wave in digital currency.

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45 percent of world’s wealth destroyed: Blackstone CEO

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via Reuters

NEW YORK (Reuters) – Private equity company Blackstone Group LP (BX.N) CEO Stephen Schwarzman said on Tuesday that up to 45 percent of the world’s wealth has been destroyed by the global credit crisis.

“Between 40 and 45 percent of the world’s wealth has been destroyed in little less than a year and a half,” Schwarzman told an audience at the Japan Society. “This is absolutely unprecedented in our lifetime.”

But the U.S. government is committed to the preservation of financial institutions, he said, and will do whatever it takes to restart the economy.

U.S. Treasury Secretary Timothy Geithner plans to unfreeze credit markets through a new program that will combine public and private capital in a fund that would buy bank toxic assets of up to $1 trillion.

“In all likelihood, that will have the private sector buy troubled assets to clean the banks out in terms of providing leverage … so that we can get more money back into the banking system,” Schwarzman said.

He expects the private sector to end up making “some good money doing that,” but added there were complex issues on how to price toxic assets. Continue reading

[video] Rich Dad “Robert Kiyosaki” Dishes the Truth About “Paper Trash”

People love referencing “Rich Dad/Poor Dad” whenever they speak on economics. Well, lets listen to what Mr. Kiyosaki has to say about volatile economic systems that depend on debtor notes/fiat, or what we commonly refer to as “paper money.” Kudos to Robert, get ya self some Gold & Silver!!  There’s a fortune to be made in a recession.

P.S. His predictions were on point!

American Kids Pressured to Look “Fly”

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A recent study has come out and suggested that todays kids are pressured into having expensive clothes and items. These unrealistic goals are seemingly giving alot of children psychological problems that effect their ability to feel acceptance based on character alone. This report speaks to a society that puts a premium on material items. How can we in America prove to children that having a new pair of Jordans does not make you any better than a kid with a pair of rejects. Very tough job indeed. Read more…

Phony $100 Bills Make Easy Change

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Okay this story probably has a couple of you wondering how to get your hands on some of these phony, but almost identical hundred dollar bills that seem to be in heavy circulation.  The bills deemed super notes” seem to have some type of government connection due to the fact they contain the same cotton  and linen mix used in U.S. currency. Anybody got change of a hundred? More info at Cutthroatkids…