ECONOMY MONEY AND BANKING

Trump Hearts Goldman as the Bank Continues Its Washington Conquest

Irony isn’t a concept with which President Donald J. Trump is familiar. In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation’s capital has reaped the rewards of government while the people have borne the cost. Washington flourished — but the people did not share in its wealth.” Under Trump, an even smaller group will flourish — in particular, a cadre of former Goldman Sachs executives. To put the matter bluntly, two of them (along with the Federal Reserve) are likely to control our economy and financial system in the years to come.
READ MORE: http://www.nakedcapitalism.com/2017/01/nomi-prins-trump-hearts-goldman-b...

The whistleblower who exposed a billion-pound scam by HSBC claims the media has now gagging him

A whistleblower who exposed millions of pounds of “unreasonable” customer charges by HSBC says he feels “vindicated” after the bank agreed to finally redress affected customers. But speaking exclusively to The Canary, the man at the centre of the storm insists that mainstream media outlets have repeatedly “gagged” and “ignored” him. And he believes a “cover-up” of what he considers fraud amounting to £1bn by HSBC goes all the way to the BBC and David Cameron.
READ MORE: http://www.thecanary.co/2017/01/24/whistleblower-exposed-billion-pound-s...

Controlling your own wealth as a basic human right

A few months ago, the Indian government withdrew 86% of banknotes in circulation. Ostensibly, it was to cut down on the black market economy and tax cheats, but it also wiped out a large percentage of the wealth of the poorest people, who hold their wealth in cash. A few weeks later, Venezuela followed with a similar measure.
READ MORE: https://blog.coinbase.com/controlling-your-own-wealth-is-a-basic-human-r...

Hackers Predicted to Cause Global Chaos in 2017

The head of LogRhythm also said the issue of "fake news" will only get worse this year, with hackers targeting major media sites.

"The power of influence is starting to shift away from mainstream news outlets, and I don’t think that is something those mainstream outlets can afford to let happen. They will respond to the fake news threat by trying to implement some level of media control that will likely take it a little too far," he said.

"I think hackers, in the name of protecting our freedom of speech, will retaliate by knocking down a major media outlet or two."

LogRhythm’s Australia and New Zealand director of sales Simon Howe has predicted that ransomware on mobile devices will become far more prevalent in 2017.
READ MORE: https://www.rt.com/business/372707-internet-shut-down-2017/

Finland trials basic income for unemployed

Finland has become the first country in Europe to pay its unemployed citizens an unconditional monthly sum, in a social experiment that will be watched around the world amid gathering interest in the idea of a universal basic income.
READ MORE: https://www.theguardian.com/world/2017/jan/03/finland-trials-basic-incom...

A well-kept open secret: Washington is behind India’s brutal experiment of abolishing most cash

In early November, without warning, the Indian government declared the two largest denomination bills invalid, abolishing over 80 percent of circulating cash by value. Amidst all the commotion and outrage this caused, nobody seems to have taken note of the decisive role that Washington played in this. That is surprising, as Washington's role has been disguised only very superficially.
READ MORE: http://norberthaering.de/en/home/27-german/news/745-washington-s-role-in...

Meet the Internet of big, lethal Things. Should you be free to tinker with a combine harvester?

Silicon Valley’s desire to open up the software that controls heavy vehicles has come under criticism from industry experts.

This week the Electronic Frontier Foundation (EFF) renewed its call for the legal protection that manufacturers use to safeguard automotive software to be relaxed.

For three years, farm machinery maker John Deere has found itself in a fight against the EFF, Silicon Valley’s most reliable proxy group, over the right to control its own intellectual property. Auto manufacturers use a variety of legal mechanisms to stop people tinkering with their gear willy nilly, and one of them is copyright.
READ MORE: http://www.theregister.co.uk/2016/12/23/should_you_able_to_tinker_with_a...

Many CEOs believe technology will make people 'largely irrelevant'

Although artificial intelligence (AI), robotics and other emerging technologies may reshape the world as we know it, a new global study has revealed that the majority of CEOs now value technology over people when it comes to the future of their businesses.

The study was conducted by the Los Angeles-based management consultant firm Korn Ferry that interviewed 800 business leaders across a variety of multi-million and multi-billion dollar global organizations. The firm says that 44 percent of the CEOs surveyed agreed that robotics, automation and AI would reshape the future of many work places by making people "largely irrelevant".
READ MORE: http://betanews.com/2016/12/03/ceos-think-people-will-be-irrelevant/?utm...

Billions are stolen; only a whistle-blower goes to jail

IT IS more than two years since Malaysians began asking awkward questions about 1MDB, a state-owned investment firm from which billions of dollars are missing. But Malaysia has yet to prosecute anyone in connection with the scandal, perhaps the gravest in its history. Instead, on November 14th a local court handed a prison sentence to Rafizi Ramli, an outspoken opposition politician who has done much to educate the public about the affair. If Mr Rafizi’s appeal is rejected he will spend 18 months in jail.
READ MORE: http://www.economist.com/news/asia/21710280-billions-are-stolen-only-whi...

Madison Square Garden reveals year-long credit, debit card data breach

The Madison Square Garden Company says a year-long data breach compromised credit and debit cards used at concession stands — at several properties it operates. MSG alerted customers to the breach Tuesday, saying the issue has been resolved.

But Knicks and Rangers fans, as well as anyone who took in the Radio City Christmas show last year, may want to check their bank records. Cards used to purchase merchandise and food and beverage items at Madison Square Garden, the Theater at Madison Square Garden, Radio City Music Hall, Beacon Theater and Chicago Theater between Nov. 9, 2015, and Oct. 24, 2016, may have been affected.
READ MORE: http://www.nydailynews.com/new-york/manhattan/madison-square-garden-reve...

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