Freicoin: Occupy's online currency for the 99 per cent

Jacob Aron, technology reporter

(Image: MANTEL/SIPA/Rex Features)

The Occupy movement rails against the richest 1 per cent and the banks that support them, while supporters of the online currency Bitcoin want to do away with banks all together. So perhaps it's only natural that the two have come together to create Freicoin, a currency controlled by the general public rather than central banks that makes it impossible for the rich to hoard cash.

Bitcoin users run peer-to-peer software that handles transactions and keeps the currency secure, receiving small transaction fees in exchange for their computer time. Freicoin, created by NASA engineers Mark Friedenbach and Matt Everingham and photographer Aaron Blumenshine, uses a version of the Bitcoin software with one key difference - all account balances are charged a 4.4 per cent annual fee, which is distributed to all of those running the software.

The upshot is that it becomes very expensive to store large amounts of cash - $1 million would be eroded to less than $800,000 in just five years. Those who have regular income and expenditures would see little change though, as money enters and leaves their accounts too regularly to be reduced by much. The rich then have a choice - turn your Freicoin into a tangible asset such as gold or real estate and risk theft or other accidents, or loan out your money at low interest rates to the 99 per cent.

Friedenbach and colleagues have been working on a prototype of Freicoin over the past year and are now hoping to crowdfund money - in US dollars - to fund development of the full system.

Charging people to store money is not a new idea though. Economists call it demurrage and it was used locally in both Austria and the US during the 1930s. Of course, convincing the rich to adopt such a system will be difficult, as there is no benefit to them and significant costs.

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AP source: Obama to make first campaign bus trip

President Barack Obama stops at The Varsity restaurant, Tuesday, June 26, 2012, in Atlanta. (AP Photo/Carolyn Kaster)

President Barack Obama stops at The Varsity restaurant, Tuesday, June 26, 2012, in Atlanta. (AP Photo/Carolyn Kaster)

WASHINGTON (AP) ? President Barack Obama is ramping up a fresh phase of his re-election bid with a bus tour next week, focusing more on direct engagement with voters and less on ritzy fundraisers.

Obama's two-day road trip through Pennsylvania and Ohio, two key battleground states in the November election, kicks off July 5, a campaign official said. It will be the president's first bus tour of the 2012 campaign.

The bus trip also will coincide with the release of the monthly nationwide jobs report, a key economic indicator that could directly affect the president's re-election prospects. The most recent report, for May, showed a slight uptick in the unemployment rate, raising fears among Obama aides of an election-year economic slowdown.

While Obama has been running for re-election for months, his efforts thus far have focused largely on hauling in cash from supporters in dozens of fundraising events across the country as his campaign seeks to compete with energized Republican donors. He spent the early part of this week on a two-day, four-state fundraising blitz that brought in more than $5 million.

The president will still headline campaign fundraisers through the fall, but the official said Obama's schedule would start to include more of a mix of campaign rallies and other events focused on speaking directly to a wide swath of voters in the states Obama needs most in order to hold the White House.

Further underscoring his strategy shift was his campaign's announcement this week that Jennifer Psaki, a former senior White House aide, was joining the president's re-election team as traveling press secretary.

Ohio and Pennsylvania, with 38 electoral votes between them, are crucial to the president's re-election bid. Obama won both states in 2008, but Republican rival Mitt Romney is expected to make a strong play for each.

Just over four months from Election Day, Obama aides consider Ohio a toss-up but believe Pennsylvania is leaning in the president's favor. Romney took a bus tour of his own through Ohio and Pennsylvania earlier this month.

Obama has turned to bus tours before when he needed to reconnect with voters. Last summer, after a bruising fight with congressional Republicans that brought the government to the brink of fiscal default, the president hit the road for a Midwestern bus tour aimed at refocusing his presidency on the economic issues affecting the middle class. He followed it up with a fall trip through Virginia and North Carolina.

Rolling through swing states on a campaign bus allows Obama to engage in more of the informal, retail-style politics that can be hard to achieve in the highly scripted White House. Between his scheduled events, the president is sure to make surprise visits to restaurants and small businesses or stop to greet voters gathered on the side of the road to watch his motorcade.

Obama's itinerary for the bus trip was still being finalized, but the official said the president probably would hold events in northern Ohio and western Pennsylvania. The official insisted on anonymity in order to discuss details of the trip before an official announcement from the campaign.

___

Follow Julie Pace on Twitter: http://twitter.com/jpaceDC

Associated Press

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Everything That List Building Is Truly All About ... - Web SEO Services

What?s the Great Big List Building Lie? Get the audio and find out! Lee Mcintyre the ethical marketer has an interview session with fellow marketing expert James Teal in this training product. Listen to them while they take a look at list building tips and tricks and best kept insider secrets. The Great Big List Building Lie is an audio recording that is provided free of charge within the Get More Momentum coaching site.

For more details and tips concerning this write-up, remember to be sure to have a look at Great Big List Building Lie review.

What Is Get More Momentum?

Get More Momentum is actually a coaching website made by Lee Mcintyre. Here is where you could check out all of Lee?s coaching products. You will find audios, transcripts, and videos that you can access. Quite a few of these are free of charge, and some you need to pay for. The Great Big List Building Lie is among one of the freely given products to be found there.

Building A List And The Great Big List Building Lie

Internet marketers and entrepreneural people normally feel that a big email list is necessary for the success of an online business. Hence, we strive for an email list with plenty of names within it: the more of these names there are? the better. However, Lee and James declare that this is a mistake.

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In summary, the list-building tips contained all through the Great Big List Building Lie are these:

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Lee Mcintyre?s credible standing stems from his track record as a high school instructor turned eBay marketer turned internet marketing specialist. The countless coaching products he has produced has made him popular simply because of their standard and yet economical cost. In fact, Lee Mcintyre is well-known to freely give some of these products to his many customers as well as leads. The Great Big List Building Lie is one of these freebie products.

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Wrapping Up The Great Big List Building Lie Audio

If you are a web marketer or entrepreneur, you might know the benefits of the email list. You may even be attempting to develop your own list right at this point. This particular audio product talk between Lee Mcintyre and James Teal is certain to open up ideas regarding how to approach the task of building a list. Aside from that, this interview also has great suggestions about product making, joint venture partners, as well as online entrepreneurship as a whole. Lee Mcintyre has always been known to develop premium quality material on every single one his products for marketers. What?s more, it is actually 100 % free!

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