A few weeks ago the Royal Canadian Mint rolled out MintChip, a digital currency that is “better than cash.” It isn’t an alternative currency in that it’s a digital representation of the sovereign currency — the Canadian dollar.

The FBI sees the anonymous Bitcoin payment network as an alarming haven for money laundering and other criminal activity—including as a tool for hackers to rip off fellow Bitcoin users.

That’s according to a new FBI internal report that leaked to the Internet this week, which expresses concern about the difficulty of tracking the identity of anonymous Bitcoin users, while also unintentionally providing tips for Bitcoin users to remain more anonymous.

(U//FOUO) Bitcoin – A decentralized, peer-to-peer (P2P) network-based virtual currency – provides a venue for individuals to generate, transfer, launder, and steal illicit funds with some anonymity. Bitcoin offers many of the same challenges associated with other virtual currencies, such as WebMoney, and adds unique complexities for investigators because of its decentralized nature.

If all the world’s informal markets were formed into a single independent nation, its $10 trillion economy would be the second-largest on the planet (behind only the US). These markets thrive in places where taxes are low, poverty is high, and resources are scarce. The colors on this map indicate the size of each country’s underground economy, as a percentage of its GDP

No surprise here. It's noteworthy that it had to get this bad in the first place in order for it to even be reported.

WASHINGTON -- Video excerpts from the lavish 2010 General Services Administration conference in Las Vegas surfaced Thursday, adding fuel to a growing controversy over wasteful government spending.

A six-minute clip released on Capitol Hill features a music video of a GSA worker rapping about becoming "commissioner" in a song dotted with jokes about spending freely on computers, employee bonuses and "all the things your buildings never had."

It's the end of the line for Canada's humble penny. The government has decided the lowest denomination coin is more trouble than it's worth, so the Royal Canadian Mint will stop distributing the penny this fall. "It costs taxpayers a penny-and-a-half every time we make one. We will, therefore, stop making them.", said Finance Minister Jim Flaherty.

Shopping in Kitchener, ON, Canada, saw this sign by the checkout addressing accepting American currency. Couldn't help but laugh.

The Federal Reserve must bear responsibility for our current recession. The seeds for this recession were planted in 1995 and led to unsustainable booms and busts. Then to high unemployment, increased consumer prices, failed companies and increased debt.

Federal Reserve officials are considering a new type of quantitative easing that will allegedly attempt to boost the economy without accelerating inflation. Under the new approach, the Fed would print new money to buy long-term mortgage or Treasury bonds but effectively tie up that money by borrowing it back for short periods at low rates. And if you believe that will work, I've got a bridge to nowhere I think you'll be very interested in purchasing...