Network Archives

The Bank Branch: An Endangered Species?

"At Citigroup (C), we just learned that 15% have been eliminated in the past year. That leaves only 779 in North America. At Bank of America (BAC), 234 have gone the way of the dodo in the past several months. At JPMorgan Chase (JPM), 300 are being shuttered as we speak. I’m talking about one of the 21st century’s biggest endangered species: the bank branch. And chances are, you’re helping eliminate them almost every single day. When was the last time you deposited a check with an actual bank teller? Or even at an ATM? I can’t remember personally, and for a very simple reason. I bank with Chase, and the company’s smartphone app lets me do it right from my iPhone 6!" Continue reading →

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Ron Paul: Greece Today, America Tomorrow?

"While most commentators have focused on Greece’s welfare state, much of Greece’s deficit was caused by excessive military spending. Greece’s military budget remains among the largest in the European Union. Despite all the handwringing over how the phony sequestration cuts have weakened America’s defenses, the United States military budget remains larger than the combined budgets of the world’s next 15 highest spending militaries. Little, if any, of the military budget is spent defending the American people from foreign threats. Instead, the American government wastes billions of dollars on an imperial foreign policy that makes Americans less safe." Continue reading →

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US Senate Rejects Parental Choice in Education, but States and Individuals Choosing Anyway

LOS ANGELES (July 15, 2015) This week, the Federal Senate rejected a measure that would have protected school choice, but individuals and states are already taking actions without federal approval, and it will likely continue and grow in 2016. In a rare instance where a measure was put forward in the National Congress that would have…

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If the Feds Can’t Coerce States, Why Can They Coerce Individuals?

Tying together strands from the legal reasoning in the twin Supreme Court cases on Obamacare, we find a principle that just might shield individual Americans from the coercive force of the federal government if it were ever properly applied. It’s a simple fact in the insurance business: the more policyholders file claims, the more pressure…

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Federal Judges Fail to Restrain Federal Power – Now What?

Two shocking rulings handed down by the Supreme Court recently – one, King V. Burwell, rewriting precise language in the Affordable Health Care Act, the other, Obergefell V. Hodges, assuming federal authority to define marriage, illuminate a central flaw in the American system of government – as it now exists. That flaw is the lack…

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Bill to Curb ‘Policing for Profit’ via Asset Forfeiture Approved by California Assembly Committee

SACRAMENTO, Ca. (July 15, 2015) – Yesterday, a California Assembly Committee unanimously passed a bill that not only bolsters restrictions on state officials from seizing property without due process, but throws a wrench into federal efforts to do the same. Previously passed by the Senate, it moves one step closer to the Governor’s desk. Introduced by…

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Swiss court rules handing over bank employee info to US illegal

"A Swiss court has ruled that Credit Suisse's decision to provide US tax authorities with information on an employee was illegal, according to the ruling made public Monday. In April 2012, the Swiss government gave 11 Swiss banks the go-ahead to accommodate a US tax evasion probe and hand over the names of thousands of their employees and consultants working with American clients. Fearful of harsh US penalties and prosecution, the banks then met Washington's demands, handing over personal information about numerous staff members, and reportedly also making personal documents, emails and details of telephone calls available." Continue reading →

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IRS Seeks To Require Reporting Of All U.S. Bank Accounts

"Currently, information reports are not required on non-interest accounts, while there is a $10 threshold for reporting on interest bearing accounts. This change would be effective for the current tax year of 2015, giving banks and credit unions little time to adapt their systems for compliance. Should this provision be enacted, taxpayers will be awash in new 1099s reporting de minimis amounts of interest. In many cases, they will report less than a one dollar in earned interest per year. Additionally, this new reporting requirement will impose substantial costs on the financial services industry that far exceed the revenue that will be gained by the proposal." Continue reading →

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Historical Ignorance: The War of 1861 Established Federal Dominance

The victors of war write its history in order to cast themselves in the most favorable light. That explains the considerable historical ignorance about our war of 1861 and panic over the Confederate flag. To create better understanding, we have to start a bit before the 1787 Constitutional Convention in Philadelphia.

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