A recent article at the Daily Chronic indicates some confusion still exists. about the legal and practical effects of a Connecticut hemp bill that went into effect July 1. HB5780 removed any mention of industrial hemp from the Connecticut criminal code that classifies marijuana as a banned controlled substance. From the official summary of the legislation:…
"In June 2014, the government seized Ken Quran's entire bank account—more than $150,000. This was money that Ken worked for years to earn, and that he was counting on for his retirement. Ken had no prior warning before the government seized the account. The government told him they were taking the money because he withdrew cash from the bank in amounts under $10,000." Continue reading →
"The gold price has fallen to its lowest level in more than five years as talk of a US interest rate rise has led investors to sell the precious metal. Gold closed 2.5% lower at $1,104.60 an ounce in London, having earlier fallen below $1,100 an ounce for the first time since March 2010. The gold price is now more than 40% below its August 2011 peak. The stronger US economy has led investors to expect the Federal Reserve to raise interest rates this year. The expectations have led investors to gradually sell gold - a perceived safe haven investment in times of crisis - to invest elsewhere. Other commodities have also fallen, with the price of platinum down 5% - its weakest level since the crisis." Continue reading →
SACRAMENTO, Calif. (July 20, 2015) – A California bill that would create a mechanism to stop transfers of military equipment to state or local law enforcement agencies cleared its final committee hurdle last and will now move on to the Senate floor when it returns from a summer recess in August. Introduced by Asm. Nora Campos…
DOVER, Del. (July 20, 2015) – Last week, a Delaware “Common Core opt-out bill” was vetoed by Gov. Jack Markell. Since the bill passed by veto-proof majorities in both houses, insiders suggest that an override is possible when the legislature reconvenes in January. Introduced by Rep. John Kowalko (D-Newark) in March along with eight bipartisan cosponsors,…
"Just these top four derivatives players — B of A, Goldman, Citi and JPMorgan — control nearly $203.5 trillion, or 92% of all derivatives held in the U.S. banking system. And the largest 25 U.S. banks control 99.8%. All told, the thousands of other regional, mid-sized and small banks in this country control a meager one-fifth of one percent of the derivatives. This is an oligopoly unlike any other in the financial world — one that ties the fate of the U.S. economy to these firms’ stability far beyond anything ever witnessed in prior centuries. In contrast, Lehman Brothers was actually smaller by comparison — with 'only' $7.1 trillion in derivatives." Continue reading →
A lot of people are worried about protecting the borders, but I think they’re not focused on the most important ones – protecting their STATE borders from federal intrusion.
"China has made 2.5 trillion yuan to 3 trillion yuan ($483 billion) of funding available for government agency China Securities Finance Corp. to support the stock market, people familiar with the matter said. The funding is to offer liquidity support to brokers and to purchase stocks and mutual funds. Chinese stocks rose the most in a week as the government gains ground in efforts to stabilize a stock market that plummeted in the past month after a debt-fueled boom. The money was available from the central bank’s relending facility; credit lines with commercial banks; borrowing by CSF in the interbank market; and bonds and short-term notes sold by CSF, the people said." Continue reading →
SACRAMENTO, Calif. (July 17, 2015) – Two California bills that would work together to help end the warrantless use of “stingrays” passed unanimously out of important Assembly committees this week. Passage into law would not only help protect privacy in California, but would also hinder part of the federal surveillance state. Sen. Mark Leno (D)…
"New documents from WikiLeaks show the National Security Agency spies on French companies as well as its government. That's not especially surprising. What is surprising is seeing the Federal Reserve Board on the list of 'supported elements' for whom the NSA spied. We've always known the Fed had its nose in every economic nook and cranny. Now, thanks to WikiLeaks, we have proof. You can view the secret document online. What you will see is a standing topic list, dating back to 2002, on which the NSA collects information for further analysis. NSA's 'customer' list includes not only the Fed but also the Commerce Department, Treasury Department and U.S. Trade Representative." Continue reading →