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Heated exchange after Baton Rouge cop pulls over fellow officer driving recklessly

"In the video, off-duty BRPD officer David Stewart pulls over a swerving white pickup truck that he says was doing more than twice the 45 mph speed limit. The stop happened on Juban Road in Livingston Parish. Stewart said he pulled the vehicle over and contacted the Livingston Parish Sheriff's department because he thought the driver may be impaired or having a 'road rage' fit. However, after the driver, Cpl. Brian Harrison, identified himself as a Baton Rouge police officer, the dash-mounted camera in Stewart's vehicle then captured a heated 4-minute exchange between the two men." Continue reading →

Continue ReadingHeated exchange after Baton Rouge cop pulls over fellow officer driving recklessly

China Central Bank Warns Banks on Liquidity

"China's central bank, breaking its long silence on a liquidity squeeze that has strained funding at many of the nation's banks, suggested they shouldn't look to authorities to solve their cash shortage. The surge in the cost of short-term funds, which banks use to lend to each other, stemmed from an overstretched financial sector—as inflows of funds from abroad slowed—and a mismatch between banks' short-term funding needs and long-term loans. On Monday, concerns over the funding problems led to a wave of selling in shares of midsize banks, many of them heavily reliant on the interbank market for their funds." Continue reading →

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Here’s Why Bernanke is Clueless…

"The only place to hide last week was in cash – all thanks to the Fed. Last Wednesday, it updated its forecast, saying it expects economic growth to improve. If its forecast is correct, the Fed expects to conclude its bond purchase program, known as QE, by mid-2014. But there’s a big problem with the Fed’s forecast… The Fed basically said it will end its bond purchase program if its economic forecast becomes a reality. The market is reacting as if the Fed will be right this time. That’s a huge assumption to make because the Fed’s forecast is almost always wrong." Continue reading →

Continue ReadingHere’s Why Bernanke is Clueless…

Credit Suisse faces $1.2-billion US penalty over taxes

"Credit Suisse faces a penalty of $1.2 billion (1.1 billion francs) from US authorities over cases of tax evasion involving American clients, a Swiss lawyer estimates. The cantonal banks of Zurich and Basel are also believed among those targeted. Last week, MPs in Bern rejected an agreement with the US, backed by the Swiss federal government, to temporarily lift banking secrecy laws to allow Swiss banks to settle with American authorities over past tax evasion cases. The agreement was never made public but was expected to include significant fines against 14 Swiss banks." Continue reading →

Continue ReadingCredit Suisse faces $1.2-billion US penalty over taxes

Spying fears highlight worth of Swiss data centres

"‘Trust’ is the watchword of the expanding Swiss data storage industry as it quietly carves out a highly lucrative global niche. Recent revelations of U.S. intelligence agency spying, coupled with ongoing reports of espionage emanating from China, may have raised public consciousness of the dangers to data but the industry has known about it for years. Some data storage providers have taken security to extremes, housing their servers in ex-military alpine bunkers, such as the aptly-named ‘Fort Knox’ in canton Bern. One company using the bunker, Siag – which labels itself the 'Swiss private bank for digital assets' - refuses to deal with US clients on security grounds." Continue reading →

Continue ReadingSpying fears highlight worth of Swiss data centres

Privacy services companies stand up against Big Brother

"Encryption communication services companies are gaining momentum as public trust in US technology companies and social media networks are at an all-time low following explosive revelations by Edward Snowden. 'It’s going crazy. You know a lot of people suspected the US government was spying on Americans. But now we have this confirmation so everybody is contacting us now. We’ve had a huge surge in orders,' said Phil Zimmermann, CEO of Silent Circle, encrypted communications firm. Another company that is bearing the fruits of the NSA’s misfortune is Seecrypt, a mobile application that encrypts information sent over the mobile phone." Continue reading →

Continue ReadingPrivacy services companies stand up against Big Brother

Bitcoins Seized By DEA

"The Drug Enforcement Administration posted an Official Notification that Bitcoin (i.e. property) belonging to Eric Daniel Hughes was seized for forfeiture pursuant to 21 U.S.C. § 881, because the property was used or acquired as a result of a violation of the Controlled Substances Act (21 U.S.C. §§ 801 et seq.) The DEA appears to have been the first agency to seize actual Bitcoins from an individual with this seizure. Exactly how the Bitcoin was seized is not known as of this writing. However, reading the top of the notice it appears that Mr. Hughes can request release of the seized property during the pendency of the forfeiture proceeding due to hardship." Continue reading →

Continue ReadingBitcoins Seized By DEA

Australian Taxation Office targets Bitcoin users

"The Australian Taxation Office is taking aim at Bitcoin users who could be attracted to the burgeoning virtual currency by the possibility of hiding transactions and dodging tax. Despite the ability to trade virtual currencies like Bitcoin anonymously, the ATO is confident it can track users in efforts to stop fraud. 'Bitcoin is no more anonymous than physical cash and the ATO has experience in working with earlier forms of ­anonymous electronic money systems, and with physical cash, which are relevant for responding to new and emerging ­systems,' ATO senior assistant ­com­missioner for the cash economy Michael Hardy told The Australian ­Financial Review." Continue reading →

Continue ReadingAustralian Taxation Office targets Bitcoin users

Israel Names Chairman of JPMorgan Chase International the New Central Bank Chief

"Jacob Frenkel, 70, also serves as Chairman and CEO of the Group of Thirty (G-30). He is also a member of the Trilateral Commission, a member of the board of the Council for the United States and Italy, a member of the Investment Advisory Council of the Prime Minister of Turkey, and a member of the International Advisory Council of the China Development Bank. Between 1973 and 1987 he was on the faculty of the University of Chicago where he held the position of the David Rockefeller Professor of International Economics. Frenkel served from 2004 to 2009 as vice chairman of US bailed out American International Group (AIG)." Continue reading →

Continue ReadingIsrael Names Chairman of JPMorgan Chase International the New Central Bank Chief

Government Trained Killer with 2,746 Confirmed Kills: “They’re just another pencil mark.”

"With 2,746 confirmed kills, Sgt. 1st Class Dillard Johnson is the deadliest American soldier on record[...] 'It’s sort of sad to say, but they’re just another pencil mark,' Johnson told The Post, referring to his journal notations. 'I didn’t think of the numbers . . . That’s not a boast I would make[...] He counted the dead by tallying rifles — and human heads — among the mangled or charred wreckage left behind[...] His past never haunts him. 'I killed when I needed to . . . I was brutal when I needed to be, but I was compassionate when I needed to be,' he said.[...]" Continue reading →

Continue ReadingGovernment Trained Killer with 2,746 Confirmed Kills: “They’re just another pencil mark.”