SALEM, Ore. (July 10, 2015) – The Oregon Senate killed a bill that would have shut down the recently launched industrial hemp industry, ensuring that hemp farmers will be able to continue to growing their crops, further nullifying in practice the federal ban. The Senate voted 13-17 against HB2668. The legislation would have essentially halted…
CONCORD, N.H. (July 11, 2015) – On Monday, New Hampshire Gov. Maggie Hassan signed a bill into law that expands the state’s current medical marijuana program, further nullifying in practice the federal prohibition on the same. Introduced by Rep. Stephen Schmidt (R-Wolfeboro) and five bipartisan co-sponsors, House Bill 476 (HB476) adds “epilepsy, lupus, Parkinson’s disease,…
JEFFERSON CITY, Mo. (July 10, 2015) – Last week, Gov. Nixon signed a bill into law that will help promote freedom when it comes to medical services. Passed by a wide margin in both Houses this year, House Bill 769 (HB769), sponsored by Rep. Keith Frederick, states that medical retainer agreements – in which the…
"Regulators’ efforts to rein in Wall Street’s biggest banks are in danger of backfiring. Guidelines aimed at strengthening lending standards are shifting the market for high-yield credit to less-supervised loan funds, raising alarm this week from the Financial Stability Oversight Council. Because the funds don’t have depositors, some of their money comes from Wall Street banks, leaving systemically important institutions exposed to risks regulators hoped to avoid. BDCs and private credit funds [are called] 'Dodd-Frank banks' because they’ve grown in the wake of the 2010 Dodd-Frank Act’s heightened supervisory scrutiny of regulated lenders." Continue reading →
"Created under the sweeping Dodd-Frank Act of 2010, the agency sets regulatory guidance for an array of financial products. The bureau is funded through a direct percentage of Federal Reserve income, not by Congress – and that means there’s no congressional oversight. A recent report found that the CFPB has accomplished the monitoring of more than 85 percent of all credit card records from U.S. consumers. The agency’s goal is to reach 95 percent of the domestic credit card marketplace. The bureau presided over the U.S. Department of Justice’s Operation Choke Point, a campaign to choke off the credit lines of targeted businesses." Continue reading →
"What a strange world we now live in. Total surveillance of every citizen’s transactions, without any basis or suspicion, is not just normal but presented as a virtue, a form of patriotism. Using cash or wishing to retain your financial privacy is inherently suspect, a radical position, soon to be a crime. Using cash or wishing to retain your financial privacy is inherently suspect, a radical position, soon to be a crime. A future where all payments are trackable is terrifying, but a world with centralized control over transactions would be even worse. Digital currency with centralized control means the eradication of property as a right." Continue reading →
"The overriding effect that the elimination of cash will have on people will be that they will lose their freedom of monetary movement. They will be subject to government and banking surveillance of every transaction and, increasingly, will be subject to legislation that limits currency movement. Once this point is reached, governments will be free to move to a stage in which they declare that money is not the possession of the individual or company. It’s the possession of the government and the government 'allows' the public to use its currency in order to conduct commerce. As such, individuals and companies had best 'behave,' or they might find the privilege taken away and the money confiscated." Continue reading →
"The new system, which is officially set to launch on Thursday, will work much like mobile phone bank payments in other countries: users will be able to exchange hard cash for digital money which is stored in an electronic wallet on their phones. As with other mobile payment programmes, text messages will allow users to make payments to other accounts, but what makes this plan different is that this is the first time a national government will have full control; everything from the creation of new units to securing the system against attack will be managed by the Central Bank of Ecuador. The bill that authorized the digital dollar also banned Bitcoin and other digital currencies." Continue reading →
Every year, Congress prepares for its “fly-in” weeks – the three to four weeks prior to “appropriations season” when money is allocated to various departments and programs. This generally occurs between April and June. Lobbyists and interest groups from around the country “fly in” to Washington D.C. and meet with Congressional staffers or the elected…
"Joaquin Fenoy was wandering the streets of Athens Friday, doing his bit to ease Greece’s currency restrictions. He wasn’t handing out cash, but rather installing an ATM with a withdrawal limit of €1,000 (about $1,100). That’s €940 above the €60 daily ATM withdrawal limit the Greek government put in place to stop a bank run as its creditors decide the country’s financial fate. There is one catch, though: You need to have the virtual currency bitcoin to use it. In Greece’s case, worried relatives in London could buy bitcoins and transfer them to the digital wallet of a family member in Athens, who could then withdraw the bitcoins as euros from Bitchain’s ATM." Continue reading →