Yearly Archives: 2013

Bond Funds Lose $30.3 Billion in August in Big ‘Shift’

"The withdrawals for the month through Aug. 19 are already the third-highest on record, following $69.1 billion of withdrawals in June and $42 billion in October 2008, according to a report dated yesterday by TrimTabs Investment Research in Sausalito, California. Bond funds have suffered $4 billion in redemptions this year, on pace for the biggest withdrawals since investors pulled $7 billion in 2004. The prospect of losses in the fixed-income market and rising rates have spurred investors to retreat after pouring $1.2 trillion into bond mutual funds and ETFs from 2009 through 2012." Continue reading →

Continue ReadingBond Funds Lose $30.3 Billion in August in Big ‘Shift’

German jailed for Julius Bär bank data theft

"A German citizen who began working as a contractor for the Zurich-based bank in 2005, admitted that he had gathered information about the bank's clients, including their names, addresses and account numbers, between October and December 2011. He had then compiled a list of German clients with assets of more than 100,000 euros, Swiss francs, British pounds or dollars, and passed it on to a retired German tax inspector. In exchange, he had been set to receive €1.1 million euros. He told the court he had planned to use part of his compensation to pay off his own back-tax debt to German authorities." Continue reading →

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Boardwalk Violinist vs. City Hall: Challenging Ocean City’s Noise Ban

"Ocean City, Maryland is known for a bustling boardwalk that's packed with the sights, smells, and sounds of summer. The city's leaders, however, approved an ordinance prohibiting anyone from being audible from more than 30 feet away while on the boardwalk. Mayor Rick Meehan tells Reason that the goal was 'to ensure that everybody had an opportunity to enjoy Ocean City.' But that wasn't how William Hassay saw it after being hassled by cops. Hassay has been entertaining passersby for almost 20 years by playing his violin for tips. 'I was told I would be cited and that I would be subjected to face jail time,' he says." Continue reading →

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Vermont Completely Nullifies Federal Hemp Ban

"Vermont has become the most recent state to take a stand against the federal government and nullify the federal ban on hemp cultivation. Governor Shumlin signed the new bill into law in June. Vermont is actually the 9th state to lift the ban on hemp, and 20 states have introduced industrial hemp legislation for the 2013 legislative season. However, what makes Vermont unique is that the new law does not hold a stipulation or amendment requiring the federal government to first lift the ban on hemp cultivation. Much like Colorado, Vermont will proceed regardless of the federal law banning hemp cultivation." Continue reading →

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CIA finally admits it masterminded Iran’s 1953 coup

"On the 60th anniversary of the 1953 military coup in Iran that overthrew the government of radical nationalist Mohammad Mossadegh, the US has declassified documents detailing how the CIA’s secret operation brought the country’s Shah back to power. Monday’s publication under the US Freedom of Information Act came as something of a surprise, since most of the materials and records of the 1953 coup were believed to have been destroyed by the CIA, the Archive said. The CIA said at time that its 'safes were too full.'" Continue reading →

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Court: Britain can look at Greenwald partner’s seized electronic documents

"British authorities can sift through electronic documents seized from journalist Glenn Greenwald’s Brazilian partner, in the interests of 'national security', a court ruled on Thursday. The 'highly sensitive' material could risk lives, said UK police. Two judges gave authorities until Aug. 30 to analyze 'thousands' of documents, according to a police lawyer. 'he home office and police now have seven days to prove that there is a genuine threat to national security, rather than make mere assertions as they have done today,' stated lawyer Gwendolen Morgan after the ruling was passed." Continue reading →

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Only One Big Telecom CEO Refused To Cave To The NSA; Jailed For Years

"Former Qwest CEO Joseph Nacchio is currently serving a six-year sentence after being convicted of insider trading in April 2007 for selling $52 million of stock in the spring of 2001 as the telecommunications carrier appeared to be deteriorating. During the trial his defense team argued that Nacchio, 63, believed Qwest was about to win secret government contracts that would keep it in the black. Nacchio alleged that the government stopped offering the company lucrative contracts after Qwest refused to cooperate with a National Security Agency surveillance program in February 2001." Continue reading →

Continue ReadingOnly One Big Telecom CEO Refused To Cave To The NSA; Jailed For Years

Lavabit: The Latest Dead Canary in the Privacy Coal Mine

"Private data stored with a company which is US-based and/or has servers based in the US does not have strong legal or privacy protection. The US government can force that company to turn over its customer data while also preventing it from talking about it. Are you still entrusting your private data to a US-based company or a company with servers based in the US? If you are but you value your privacy, you need to move your data elsewhere. Otherwise, that company might be compelled to violate your privacy and give up your data to the US government. And they may never be able to tell you about it." Continue reading →

Continue ReadingLavabit: The Latest Dead Canary in the Privacy Coal Mine

Redditors Raise More Than 32 Bitcoins (over $4,000) for Homeless Shelter

"In May of this year, the Pensacola City Council passed a 'camping ban' ordinance despite significant opposition. The ordinance bans camping on city-owned and residential property and prohibits sleeping, bathing and shaving in public restrooms. The ordinance effectively make it a crime to be homeless. In his post, Greg called Bitcoiners to action by sharing his experience and offering to match donations made to Sean’s Outpost. Hundreds of donations came in (and were matched) with several donations over $100. The largest single donation came from Redditor 'shakethatbass' who donated a whopping 15 bitcoins – worth over $1,700." Continue reading →

Continue ReadingRedditors Raise More Than 32 Bitcoins (over $4,000) for Homeless Shelter

The Problem With Altcoins

"Because it was started earlier and has had a greater opportunity to grow and attract users, Bitcoin has a market larger by a wide margin than all the markets of all the altcoins put together, and this makes it vastly more useful as a currency. To defeat Bitcoin, an altcoin would require not just superior technology, but such vastly superior technology as to be an advance over Bitcoin comparable to the advance Bitcoin represents over fiat currency." Continue reading →

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