The FIX at 4 - Daily Market Recap 9/26/2018 Google pumps Coinbase

TotalNews1

Total News – Atlanta, GA 9/26/2018 - An interesting day indeed, Google has announced that it will allow 'regulated' companies to post ads on their platform.  Of course, that includes Coinbase, perhaps almost exclusively, which is owned by Google.  It seems that there are many interesting coincidences, from the origins of Google being funded and supported by US Government agencies like the CIA, and the origins of Bitcoin.  Isn't it interesting how a similarly Silicon Valley funded company, Coinbase, will reap the benefits of Google's policies (both located in Mountain View, California).  It's not a Monopoly - it's something else - much more complicated and controlling than the original "Monopoly" described in the 1906 "Confessions of a Monopolist".  You are asking why a book written in 1906 is being referenced?  The Sherman Anti-Trust Act, used today to bust against Monopolies, is from 1890 (that's 1890 not 1980):

The Sherman Antitrust Act of 1890[1] (26 Stat. 209, 15 U.S.C. §§ 17) is a United States antitrust law passed by Congress under the presidency of Benjamin Harrison, which regulates competition among enterprises. The Sherman Act broadly prohibits (1) anticompetitive agreements and (2) unilateral conduct that monopolizes or attempts to monopolize the relevant market. The Act authorizes the Department of Justice to bring suits to enjoin (i.e. prohibit) conduct violating the Act, and additionally authorizes private parties injured by conduct violating the Act to bring suits for treble damages (i.e. three times as much money in damages as the violation cost them). Over time, the federal courts have developed a body of law under the Sherman Act making certain types of anticompetitive conduct per se illegal, and subjecting other types of conduct to case-by-case analysis regarding whether the conduct unreasonably restrains trade.

Google and Goldman Sachs are both well connected firms, and according to CNBC - are the biggest Corporate investors in Bitcoin and Blockchain:

Alphabet-owned Google is the second-most active corporate, with investments in bitcoin wallet company Blockchain, and Ripple, a company that is working on money transfers using blockchain technology.

We've written and researched extensively on the topic of who created Bitcoin (which still is an official mystery) and even in our book Splitting Bits.  However, on news like Google allowing 'regulated' companies to advertise on their platform, which are limited to a small handful of companies, and the biggest and most significant beneficiary of their policy being their neighbor and friend Coinbase; it makes all these blurred lines of American Oligarchs and Monopolies (that aren't Monopolies) connected to the US Government all the more muddy. -jg  (that's a run-on sentence, but this is a run-on topic.)  

Bitmain files for IPO in Hong Kong
Google Lifts Ban on Cryptocurrency Ads

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Saturday, 15 December 2018
If you'd like to register, please fill in the username, password and name fields.
Cookies make it easier for us to provide you with our services. With the usage of our services you permit us to use cookies.
More information Ok