Yearly Archives: 2013

Interview with Chris Kalbaugh, Producer of 4th of July DUI Checkpoint Video

"Thursday THP released dash cam video of its own. Troopers say it shows what Chris' video doesn't: a dog detecting drug residue in his vehicle. Chris says he even took and passed a drug test a few days later to prove his innocence. Chris isn't sure if he'd do it again, but says he proved his point and learned an important lesson.Chris says he was detained about 25-30 minutes, and allowed to leave without being charged with anything. Officers say 250 motorists went through that 4th of July checkpoint with one arrest." Continue reading →

Continue ReadingInterview with Chris Kalbaugh, Producer of 4th of July DUI Checkpoint Video

Anonymous Person Posts $500,000 Bond To Free Texas Teen

"Justin Carter, the 19-year-old who was arrested and jailed in February after making a Facebook comment about a school shooting, is out of jail. An anonymous donor posted the $500,000 bond to allow Carter to go home. Carter plans to stay near New Braunfels, Texas, to await his trial on a felony terroristic threat charge. Carter, who was indicted by a Comal County grand jury in April, has gotten global attention because of the First Amendment questions raised by his case and the high bail that kept him behind bars for nearly five months. His lawyer told NPR last week that he had represented 'murderers, rapists, terrorists' and none had had such high bail." Continue reading →

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China Gold Output Seen Rising to Record by Mining Group

"Gold output in China, the world’s largest producer, is poised to rise almost 10 percent this year to a record even as bullion prices slump, the nation’s mining association said. Bullion extended its drop this year to 23 percent and hedge funds cut bets on a rally by the most since February after the Federal Reserve said it may slow a bond-buying program that’s been pumping stimulus into global markets. That hasn’t deterred buyers in the second largest economy, which may pass India as the largest gold consumer as early as this year as regulators in Beijing make investing in the precious metal easier." Continue reading →

Continue ReadingChina Gold Output Seen Rising to Record by Mining Group

China’s gold imports still at unprecedented highs

"China will certainly become the world’s No. 1 gold consumer this year – if indeed it was not already. So far net imports through Hong Kong for the first five months of the year have totalled over 413 tonnes – double those of a year earlier when China imported just over 830 tonnes in the full year. China’s own gold production from its mines and as a byproduct from its smelting and refining sector exceeded 400 tonnes last year and is heading to between 420-450 tonnes by 2015 according to official estimates. This suggests Chinese gold imports plus its domestic production will, this year, account for comfortably over 50% of global new mined gold output." Continue reading →

Continue ReadingChina’s gold imports still at unprecedented highs

Central bank decree now runs Vietnam Gold sector

"Vietnam central bank has warned that gold businesses cannot launch programs to accept gold deposits from customers without permission from the central bank. The central bank said these illegal businesses can be inspected and penalized. It also ordered that commercial banks must now have SBV permission to run storage services. There is a very important clause in the decree, which stipulates that all activities other than trading gold by the businesses should be licensed by the central bank and the government, in order not to negatively affect the market." Continue reading →

Continue ReadingCentral bank decree now runs Vietnam Gold sector

Nepal police seize smuggled gold bound for India

"Nepal police seized 35 kilograms of gold on Wednesday, smuggled over the border from China and bound for India, where demand for the precious metal was soaring, officers said. The shipment, worth two million dollars on the black market, was the biggest ever seized by police in Nepal in what is an increasingly lucrative cross-border smuggling racket, the officers said. The gold was discovered in a truck in the capital Kathmandu after police trailed the vehicle following a tip off, superintendent Uttam Kumar Karkee told AFP. He said that smugglers have been using land routes after authorities stepped up customs inspections at airports." Continue reading →

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Smuggled Gold worth $5 billion to hit India this year

"India's efforts to curb gold imports are backfiring as the country already started to suffer from illegal gold transactions. Reports said old style gold smuggling is back in the country as series of restrictions by the government makes it difficult for the importers to buy from abroad while smugglers are offering much lower prices. Analysts said smuggling became a lucrative affair after the rise in customs duty on gold imports and people risking their necks to smuggle in gold. They added that smugglers got an opportunity after being sidelined for nearly 15 years due to liberalized policies of the government on gold imports." Continue reading →

Continue ReadingSmuggled Gold worth $5 billion to hit India this year

Metal detector knows how much cash is in your wallet

"It has long been an urban legend that the security strips found in US banknotes let shadowy government agencies use metal detectors to track how much cash you are carrying. Now it seems the conspiracy theory may have been half right: it is possible to both detect and count concealed banknotes printed with magnetic inks. Physicists Christopher Fuller and Antao Chen at the University of Washington in Seattle realised that large bundles of notes would contain enough magnetic material to be detected at a distance, potentially allowing police to catch people attempting to smuggle cash over the border." Continue reading →

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Third-Largest US Futures Broker Newedge Fined for Lax Oversight of Manipulative Trades

"The brokerage allowed potentially manipulative trading such as 'spoofing,' in which firms place orders designed to trick other firms into buying or selling stocks. Finra said clients also engaged in multiple 'wash trades,' in which a firm acts as buyer and seller in the same trade, creating the illusion of heavy trading volume that lures firms that are tracking for such activity. Finra last August implemented a sophisticated market-surveillance system that already has sparked nearly 300 investigations. The SEC is using a new market-monitoring system called Midas to track trading across stock exchanges." Continue reading →

Continue ReadingThird-Largest US Futures Broker Newedge Fined for Lax Oversight of Manipulative Trades

Bitfinex: Bitcoin Margin Trading

"The idea behind margin trading is simple. If you have an account at a traditional Bitcoin exchange like BitStamp of MtGox, you have two balances: a BTC balance and a USD balance. Apart from depositing and withdrawing, the only operation available to you is trading one currency for another. If you are participating in the exchange as a trader, your goal is to convert to BTC before the exchange rate goes up, and convert to USD before the exchange rate goes down, slowly increasing the net worth of your account over time. Margin trading services add only one feature to this model: the ability to have one of your balances go negative." Continue reading →

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