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Earlier today in Sri Lanka’s Colombo International Airport, a passenger was arrested by local authorities and found to have stuffed nearly $30,000 worth of gold into his rectum. That’s nearly 1 kilogram of gold. In his ass. The gold had been carefully wrapped in plastic and included four small bars and multiple chains
On Tuesday afternoon, Jamie Dimon, the CEO of banking giant JP Morgan, let loose on Bitcoin. He was speaking at the Barclays Financial Services conference, and when asked whether his bank employs any Bitcoin traders, he responded- “If we had a trader who traded Bitcoin, I’d fire them in a second,” calling any
What’s money worth if interest rates are negative? Interest rates, after all, are the “price” of money. When we borrow money from a bank and pay interest on the loan, it means that the money we’re borrowing has value. That –capital- has value. Negative interest rates, on the other hand, suggest that capital
Today is one of those days when I feel blessed to have such wonderful and interesting people in my life. A few months ago I introduced you to Ben Yu, a Silicon Valley-based entrepreneur who’s easily one of the most unique people I know. I first met Ben when he came to our
This morning I had the pleasure of spending an hour of my life tracking down a missing wire transfer that had been sent to a large, multinational bank more than two weeks ago. I’m sure you’ve been there, being passed around various departments like the village bicycle, each time having to re-explain the
This one is almost too ridiculous to believe. Recently a new bill was introduced on the floor of the US Senate entitled, pleasantly, “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.” You can probably already guess its contents. Cash is evil. Bitcoin is evil. Now they’ve gone so far to include
In 1559 while on a trip to southern Bavaria, Swiss scientist Conrad Gesner spied a curious flower in the garden of a diplomat in Augsburg. The flower was called a tulip, derived from the Persian word dulband, meaning “turban,” which described its conspicuous shape. Gesner was intrigued. He asked the man who owned
In 1483, just as Johannes Gutenberg’s new moveable type printing press was spreading across Europe, Sultan Bayezid II of the Ottoman Empire issued a staunch decree banning the machine from his realm. At the time the Ottoman Empire was the dominant superpower in the world, having conquered most of the Middle East, North
