Yearly Archives: 2013

Antigua set to bypass US copyright law with WTO green-lit media, software sales website

"In a surprisingly legal move, the government of Antigua is planning to open a website selling media and software without paying any fees to American copyright holders. It comes after the US closed its market to Antiguan gambling companies. The small Caribbean nation once thrived on its gambling industry, which at one point employed 5 per cent of its people, TorrentFreak reports. When the US blocked the island's gambling companies from accessing American players, it pulled the rug out from under the whole industry. Antigua is now set to begin selling music, movies and software without having to pay a cent to the American firms holding copyrights on the wares." Continue reading →

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Feinstein “Assault Weapons” Bill: Give Government an Inch…

Last week, I wrote about President Barack Obama’s gun-control executive orders, and in it, I said, “You don’t have to be a firearms enthusiast to know that this isn’t a final triumph for gun-control advocates. It’s only the latest chapter.” My argument was that any time you give the government an inch, they will always [...]

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Treasury Gets a Citibanker

"There was a time when you had to be successful on Wall Street to become secretary of the Treasury. Now along comes presidential nominee Jack Lew, whose only business credential is a stint at the most troubled too-big-to-fail bank. During the darkest days of the financial crisis Mr. Lew served as the chief operating officer of Citigroup's Alternative Investments unit (CAI). CAI no longer exists. At the end of Mr. Lew's first quarter on the job, the unit reported a $358 million loss. Things got much worse after that but Citi stopped breaking out CAI results in its earnings releases. The unit was eventually shuttered and many of its assets were sold." Continue reading →

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At Bank of England, Carney to put growth at top of list

"The new Governor of the Bank of England has signalled that he will put growth at the heart of his approach to the job and is willing to see higher inflation for longer in order to support the economy. Using the US as an example, Mr Carney said economies needed to be allowed to reach an 'escape velocity' in which they were out of danger of slipping back into recession. That would suggest keeping interest rates lower for longer while considering further quantitative easing, indirect provision of monetary stimulus via the financial system." Continue reading →

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Mark Carney Leaves Canada With ‘Stealth QE’ Rising At Fastest Pace Since 2009

"As Mark Carney steps aside from his role at the Bank of Canada to undertake all manner of easy money in the UK, we thought a reflection on the 'stealth' QE that he has been engaged with, very much under the radar, in the US' neighbor-to-the-north was worthwhile. It seems quietly and with little aplomb, Carney's BoC has grown its balance sheet by over 21% YoY - the most since 2009. If that was not enough to make someone nervous, the quantity of Canadian government bonds on the BoC's balance sheet has grown at a remarkable 46% YoY! With Canada's CAD267bn debt due in 2013, we suspect this 'stealth' QE will continue to rise." Continue reading →

Continue ReadingMark Carney Leaves Canada With ‘Stealth QE’ Rising At Fastest Pace Since 2009

Japan welfare payments to be slashed ¥74 billion to root out the comfortably poor

"Welfare benefits will be slashed by ¥74 billion over a three-year period starting from fiscal 2013, after a government panel found that some people are making more on the dole than the average low-income person who is not spends on living costs, it was learned Sunday. The decision to lower standard benefit payments by 6.5 percent was made by welfare minister Norihisa Tamura and Finance Minister Taro Aso. The reduction will hit in August." Continue reading →

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Senators Demand that Banks Be Punished – but Not the Fed

"Bring these banksters to justice. But not the good, gray men of central banking. We are not surprised. The power elites are deathly frightened, in our view, that their control over central banks is in jeopardy. They will sacrifice the entire financial infrastructure to make sure central banks are not attacked. They are trying to do this any way they can. They are trying to set up neo-Pecora hearings to focus on Wall Street and the securities industry in general. There will be similar attacks in Europe and Britain. Maybe in China and Japan too, who knows?" Continue reading →

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Massive security hole lets hackers control millions of cameras, printers and routers

“A newly discovered exploit in a technology standard known as ‘universal plug and play’ (UPnP) is big enough that hackers on the Internet could remotely access and control ‘millions’ of compatible devices like cameras, printers and routers, security researchers said … Continue reading →

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Why Your Town Is Going Broke

"Cook County’s Treasurer has created a website where citizens can find out how far in the hole their governments are. They are all so far in debt that future taxpayers will lose their homes, she says: 'In May, 2012, the collective debt reported by the local primary taxing agencies in Cook County was more than $140 billion! To put that in context, the total debt-per-household in the City of Chicago was $87,720, and $35,774 in the suburbs. Homeowners might be able to give their homes to their children, but that future generation won’t be able to afford to keep them because of the property taxes, which have doubled over a 10-year period.'" Continue reading →

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