Maine Governor Begs Feds to “Bring the Hammer Down” on His Own State

Gov. Paul LePage is doing it wrong. Instead of protecting the people of Maine from overreaching and unconstitutional federal overreach, he’s begging the feds to trample on his state’s sovereignty. You see, the Republican governor doesn’t like marijuana. And he doesn’t like the fact that the people of his state voted to legalize weed. He wants…

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Feds Fine Denver Sheriff’s Office for Refusing to Consider Non-Citizens for Deputy Jobs

DENVER, Colo. (Nov. 24, 2016) – In yet another example of extreme federal overreach, the U.S. Department of Justice recently fined the Denver County Sheriff’s Office because it disqualified non-citizens from applying for open deputy positions. In early 2015, the sheriff’s office kicked of a major hiring push, adding more than 200 deputies. The department…

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The Left’s Constitutional Chickens Come Home to Roost

Here’s my post-election prediction: the left will suddenly become very interested in limiting the power of the federal government. Expansive executive power was great when their guy was in charge. But in a few months, Donald J. Trump inherits all of that unconstitutional presidential authority. For years, I’ve preached the danger of ignoring Constitutional limits just…

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Local Law Enforcement to Receive Hacking Help from FBI for iPhones

The FBI can get into your iPhone and they plan on helping local cops do the same. “Going dark” is the code word government agencies use for encryption. The words are meant to stir up emotions of fear and apprehension regarding the lines of code that hide our secrets within electronic devices, websites, and even…

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Bulgarian Pres. Blames ‘Lack Of Faith In Institutions’ For Bank Runs

"Bulgarians’ lack of faith in institutions sparked runs on two banks and triggered the worst financial crisis in 17 years, the nation’s president said. 'Let me make this very clear: there is no banking crisis in my country, but there is a crisis of confidence,' Rosen Plevneliev said today. With low trust in institutions, rumors, attempts at destabilization and speculative attacks can 'create a panic,' the president said. The central bank blames an 'organized attack' of 'criminal actions' for the run on First Investment Bank. Corporate Commercial Bank lost deposits because of a dispute between a majority shareholder and a large depositor, Capital newspaper reported June 18, citing unidentified people." Continue reading

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The Curious Case Of The Bulgarian Bank Runs

"Because of the extent of the fraud, BNB say that nationalizing CorpBank is not an option – it describes it as 'a bottomless barrel'. The Bulgarian Finance Ministry estimates that the cost of the deposit guarantee will raise the public deficit from 1.8% of gdp to 3%, putting it at the Maastricht treaty limit. This will be seen as a considerable disappointment in Brussels, which in the recent European Semester report advised the Bulgarian government not to allow the deficit to rise any further. And it raises considerable questions about the capability of the BNB to supervise banks effectively. Only a month ago CorpBank was given a clean bill of health. Now it is bankrupt because of a major fraud." Continue reading

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German Gold Stays in New York in Rebuff to Euro Doubters

"Surging mistrust of the euro during Europe’s debt crisis fed a campaign to bring Germany’s entire $141 billion gold reserve home from New York and London. Now, after the Free Democratic Party, which flirted with bringing the gold home, dropped out of Chancellor Angela Merkel’s coalition and was replaced by the Social Democrats, the government has concluded that stashing half its bullion abroad is prudent after all. Ending talk of repatriating the world’s second-biggest gold reserves is a rebuff to critics including the anti-euro Alternative for Germany party, which says all the gold should return to Frankfurt so it can’t be impounded to blackmail Germany." Continue reading

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Fed fears risks posed by exit tools; plan almost done

"The sheer magnitude of the amounts of money used to combat the crisis - $2.6 trillion sitting at the Fed as bank reserves and $4.2 trillion held by the Fed in various securities - may complicate the U.S. central bank's ability to control its target interest rate once the decision is made that it should be raised. The Fed has neared consensus that its workhorse tool will be the interest it pays banks on excess reserves on deposit at the Fed. Another tool would have a similar impact but apply more broadly, using overnight repurchase agreements that would let money market funds and other institutions as well as banks essentially make short-term deposits at the Fed." Continue reading

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