Yearly Archives: 2013

Homeland Security Watchdog OKs ‘Suspicionless’ Seizure of Electronic Devices Along Border

"The Department of Homeland Security’s civil rights watchdog has concluded that travelers along the nation’s borders may have their electronics seized and the contents of those devices examined for any reason whatsoever — all in the name of national security. The President George W. Bush administration first announced the suspicionless, electronics search rules in 2008. The President Barack Obama administration followed up with virtually the same rules a year later. Between 2008 and 2010, 6,500 persons had their electronic devices searched along the U.S. border, according to DHS data." Continue reading →

Continue ReadingHomeland Security Watchdog OKs ‘Suspicionless’ Seizure of Electronic Devices Along Border

FEMA Camp Bill Is Resurrected

"It looks as if Representative Alcee Hastings, a Democrat from Florida, has decided to reintroduce his FEMA Camp bill. The latest iteration of this bill has been introduced as House Resolution 390 otherwise known as the National Emergency Centers Establishment Act. This bill would authorize not fewer than 6 military installations as sites for the establishment of national emergency centers to be run by FEMA under the command of the Secretary of Homeland Security." Continue reading →

Continue ReadingFEMA Camp Bill Is Resurrected

Christopher Dorner Becomes First Human Target For Drones On US Soil

"It was revealed that Dorner has become the first human target for remotely-controlled airborne drones on US soil. A senior police source said: 'The thermal imaging cameras the drones use may be our only hope of finding him. On the ground, it’s like looking for a needle in a haystack.' Asked directly if drones have already been deployed, Riverside Police Chief Sergio Diaz, who is jointly leading the task force, said: 'We are using all the tools at our disposal.'" Continue reading →

Continue ReadingChristopher Dorner Becomes First Human Target For Drones On US Soil

Many 2011 federal budget cuts had little real-world effect

"In the real world, in fact, many of their 'cuts' cut nothing at all. The Transportation Department got credit for 'cutting' a $280 million tunnel that had been canceled six months earlier. It also 'cut' a $375,000 road project that had been created by a legislative typo, on a road that did not exist. At the Census Bureau, officials got credit for a whopping $6 billion cut, simply for obeying the calendar. They promised not to hold the expensive 2010 census again in 2011. Today, an examination of 12 of the largest cuts shows that, thanks in part to these gimmicks, federal agencies absorbed $23 billion in reductions without losing a single employee." Continue reading →

Continue ReadingMany 2011 federal budget cuts had little real-world effect

Paul Krugman’s Great Forecasting Failure: Argentina

"This is what Krugman wrote in May sandwiched in between my April and June warnings: 'Matt Yglesias, who just spent time in Argentina, writes about the lessons of that country’s recovery following its exit from the one-peso-one-dollar 'convertibility law'. As he says, it’s a remarkable success story, one that arguably holds lessons for the euro zone.' Some success story: out of control inflation. It will happen in the United States next, if the Federal Reserve continues to follow the mad dog printing advice of Krugman." Continue reading →

Continue ReadingPaul Krugman’s Great Forecasting Failure: Argentina

Argentina Is First Nation Censured by IMF for Economic Data

"Argentina became the first country to be censured by the International Monetary Fund for not providing accurate data on inflation and economic growth under a procedure that can end in expulsion. The declaration of censure was adopted yesterday by the IMF’s 24-member board, the Washington-based fund said in a statement. While it doesn’t have immediate effects, the decision takes the country a step closer to sanctions that include being barred from access to IMF loans." Continue reading →

Continue ReadingArgentina Is First Nation Censured by IMF for Economic Data

Up to 25% of India’s gold may be smuggled in

"An estimated quarter of the gold flowing into India is coming through irregular channels given the 'anti-gold' stance adopted by the government of one of the world's leading gold markets‚ Philip Klapwijk‚ global head of metal analytics at GFMS Thompson Reuters. 'You have a government that is clearly anti-gold in India and it is using the duty system to try hold back demand‚' he said. In January the government raised the duty on gold imports to 6% from 4%. 'What this is doing is stimulating the smuggling of gold into the country. It may be that at least a quarter of the gold coming into India is coming through unofficial channels‚' he said." Continue reading →

Continue ReadingUp to 25% of India’s gold may be smuggled in

China Central Bank Injects Record Cash Into Money Market

"China's central bank on Tuesday injected CNY 450 billion into the money markets through open market operations, reports said. This was the largest ever single-day injection. The People's Bank of China conducts repurchase agreements and offers bills to maintain short-term liquidity. The bank has introduced more funds as liquidity tightened ahead of the Chinese Spring Festival holiday." Continue reading →

Continue ReadingChina Central Bank Injects Record Cash Into Money Market

Hong Kong 2012 net gold flow to China hit record high

"Hong Kong’s net gold flow to mainland China jumped 47 percent in 2012 to a record high of 557.478 tonnes, indicating robust demand in China, which vies with India to be the world's top gold consumer. Hong Kong shipped 114.372 tonnes of gold to China in December, also a record high for monthly exports. The former British colony received 19.644 tonnes of gold from the mainland in that month." Continue reading →

Continue ReadingHong Kong 2012 net gold flow to China hit record high

China tops world in gold producing

"China produced the most gold in the world in 2012, making it the largest producer for the sixth straight year, latest industry association data showed. China's gold output increased 11.66 percent from a year earlier to hit a record high of 403.05 tonnes in 2012, the China Gold Association said Wednesday. The output was almost 100 times that of 1949, when the country produced just 4.07 tonnes, the association said. It attributed the increase to favorable government polices, which have put the industry on a fast track and made it a pillar industry in many of the country's gold producing areas." Continue reading →

Continue ReadingChina tops world in gold producing