End of the Age News
By Dave Robbins
JP Morgan Patents Virtual Currency
It appears that JP Morgan has now jumped on the bandwagon of a certain type of cashless transaction by patenting a Bitcoin-like virtual payment system in an effort to compete with Bitcoin itself. You know Bitcoin. It is the virtual payment system created in 2009 which allows individuals to make online transactions with no banks involved.
Bitcoin is becoming very popular among small business because there are no credit card fees and among individuals purchasers because they can make transactions completely anonymously since the users name is never revealed. Bitcoins can be purchased using several different currencies and are stored in a digital wallet. The banking giant admits that current banking methods are outdated and that virtual payments are the wave of the future.
Iranian Sanctions Possibly Earn $20 Billion
In other news, US officials have now admitted to Israel colleagues that Iranian sanction relief would now earn Tehran $20 billion instead of the $6 billion-$7 billion originally estimated in the Geneva accord. This is due to the fact that the P5+1 countries approved much more significant relief Geneva than it had originally intended in such areas as: gold, the Iranian photo chemical industry, the car industry and replacement parts for civilian aircraft.
The Geneva accord, which is only a 6 month interim agreement, comes into force on January 15 in hopes that Iran will stop it’s nuclear program long enough for the P5+1 and Iran will come up with a long term solution to the Iranian nuclear problem. However, many Congressmen on both sides of the isle and senior Israeli officials see this as a bad deal because it allows Iran to continue enriching uranium during the interim period bringing it that much closer to a nuclear weapon.
Pope Francis – Time Magazine’s “Man of the Year”
Finally, Pope Francis has been named TIME Magazines Person of the Year for 2013. The award is given every year, not necessarily to the person who has done the most good, but to the person who has been the most influential person in the media. For instance, in 1938 Adolf Hitler was named Person of The Year by Time Magazine.
In his first nine months in office, Pope Francis has involved himself in the very center of the major conversations of the world including such topics as: Wealth, poverty, fairness and justice, transparency, globalization, the role of women, then nature of marriage and the temptations of power. He is the leader of the Catholic Church, which is one of the largest, oldest and wealthiest institutions on earth and claims to have 1.2 billion followers.
He has made such bold statements as, “God has redeemed all of us, not just Catholics, but everyone…Even atheist. And… “Who am I to judge a gay person?” A year ago, only the hierarchy of the Catholic Church knew his name and now he is Time magazines person of the year!