Monthly Archives: August 2013

Britain considers life in prison for owners of ‘killer dogs’

"Owners of dogs that kill people could face life imprisonment if an online consultation run by the government demonstrates public support for more severe penalties. Public response will be one – but not necessarily the decisive – factor in shaping changes that the Department for Environment, Food and Rural Affairs (Defra) plans to make to the 1991 Dangerous Dogs Act. Some 16 people have been killed by dangerous dogs since 2005. The Communication Workers Union (CWU), which represents postmen and women and telecoms engineers, who suffer around 5,000 dog attacks each year, welcomed the consultation." Continue reading →

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Kristin Davis, Libertarian Candidate for NYC Comptroller, Arrested By FBI On Drug Charges

"A cooperating witness (the 'CW') was arrested in or about December 2012, and has pled guilty in this district to narcotics conspiracy and distribution offenses. The CW is cooperating with the FBI and the Government in the hope of obtaining leniency with respect to sentencing in the CW’s case. From in or about 2009, up to and including in or about Fall 2011, KRISTIN DAVIS, the defendant, purchased controlled substances, including ecstasy pills, Adderall pills, and Xanax pills, from the CW. DAVIS told the CW that she purchased ecstasy and Adderall pills at least in part to provide them to others at house parties." Continue reading →

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Drama: Yemen, Guantanamo Bay, Stamford, CT

"I commute to work in Stamford, CT. I take the Metro North almost daily. Today, in light of the 'terrorist' threat I was greeted with the Stamford Police and other law enforcement at the top of the escalator leading from the track. They were checking for traces of explosive material. Some people were being singled out to go through a swab test[...]. My co-worker who arrives later than I do told me he was singled out for a quick swab and when he complained he was told he 'better get used to it' and 'this is for our protection.'" Continue reading →

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Berkeley: What We Didn’t Know

"California investigative journalist Seth Rosenfeld adds significantly more in Subversives, which is based on some 300,000 pages of FBI documents, pried out of the resistant agency over more than two decades in a series of Freedom of Information Act lawsuits. I thought I knew all that was going on, but it turns out there was much that none of us knew, from the fact that the FBI secretly jammed the walkie-talkies of monitors directing a huge 1965 anti-war march I covered to the agency’s decade-long vendetta against Clark Kerr, the man who was first chancellor at Berkeley and then president of the University of California system." Continue reading →

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A Central Banker with Austrian Instincts

"Raghu Rajan is a very good neoclassical economist who has made important contributions to banking, finance, the theory of the firm, corporate governance, economic development, and other fields. He is also taking over as head of India’s central bank. Rajan is no Austrian, but he has a quasi-Austrian take on the financial crisis, and far greater appreciation for free markets in general than any of the key US or European policymakers. As I tweeted this morning, Rajan is about 1,000,000 times better than either Summers or Yellen. I’d gladly trade him for any US central banker." Continue reading →

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What’s in the Vault?

"The request represented less than 5% of all the gold that the Fed officially holds in its New York vaults. (Interestingly, an earlier request by Germany to inspect its assets was denied by the Fed). Despite the relatively small request (relative to the total holdings), repatriation is expected by 2020. Perhaps for fear that she may be 'persuaded' to accept being 'cash-settled' with U.S. dollars in lieu of gold, Germany dared not complain. The letter issued on April 1, 2013 by Dutch State-owned ABN-AMRO bank to holders of paper claims to gold and silver held in its vaults advised that any physical metal custodied at the bank would in the future be 'cash-settled'." Continue reading →

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In decline: the changing face of the world’s highest grade gold mines

"Many of the world's gold miners are struggling to keep their heads above water at current gold prices. A fact that many investors are struggling to understand given the hefty increase in gold prices seen over the last decade. Granted, prices of the yellow metal have fallen sharply from their highs but, they are considerably higher than they were at the start of the bull run. One of the main reasons given by gold miners for this is the fact that gold mines are not what they once were, many are old and the replacement ounces that are being found are of much lower grade." Continue reading →

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Rail Fails While Pipelines Prevail

"It costs approximately $15 per barrel to send oil by rail — compared with $1 a barrel by pipeline and $2 a barrel by ship. However, the steep premium for Brent made up for the huge shipping costs. Bakken oil sent by train was still cheaper than Brent oil carried by ship. Unfortunately for trains, though, prices are now shifting. The price advantage Bakken enjoys over Brent has fallen to only about $10–12 a barrel. Suddenly, spending $15 a barrel to ship Bakken by train doesn’t make sense. Instead, refiners are finding buying Brent is a better and safer deal. But all this talk about ships versus trains leaves out the best solution for crude oil transport." Continue reading →

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The Future of Transportation

"The Hyperloop is a futuristic form of travel, whereby passengers will be blasted to their destinations in ultra-high-speed pneumatic vacuum tubes. It’s not exactly teleportation… but it’s pretty darn close. We’re talking about traveling at speeds of up to 4,000 mph. Shooting from the East Coast to the West Coast in less than an hour will be doable. In keeping with his entrepreneurial spirit (Musk co-founded PayPal and is co-founder and CEO of electric car company Tesla Motors and private spaceflight company SpaceX), he wants partners who share his vision of 'breakthrough tech done fast without wasting money on BS.'" Continue reading →

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How payday lenders pop back up even after states crack down

"The products reflect a basic fact: Many low-income borrowers are desperate enough to accept any terms. In a recent Pew Charitable Trusts survey, 37 percent of payday loan borrowers responded that they’d pay any price for a loan. In 2012, New Hampshire joined states like Georgia and Arizona that have banned triple-digit-rate payday loans but allow similarly structured triple-digit-rate auto-title loans. And as in Ohio, Texas lenders started defining themselves as credit repair organizations, which, under Texas law, can charge steep fees. Texas now has nearly 3,500 of such businesses, almost all of which are, effectively, high-cost lenders." Continue reading →

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