Bandit Gang Writ Large

India’s finance minister says current account deficit worrying, eyes gold curbs

"India's record current account deficit is 'worrying,' Finance Minister P. Chidambaram said on Wednesday, and hinted at cutting gold imports to bolster weak external accounts that have brought back memories of a 1991 currency crisis. He said he was considering reining in imports of gold, used as an investment tool by Indians but which mean a drain on foreign currency reserves. 'We may be left with no choice but to make it a little more expensive to import gold,' Chidambaram said. Recently, Reserve Bank of India executive Director Deepak Mohanty urged investors to shift from physical gold as a hedge against rising prices to financial products like inflation-linked bonds." Continue reading →

Continue ReadingIndia’s finance minister says current account deficit worrying, eyes gold curbs

Venezuela’s Inflation Rate Hit 19.9%

"Venezuelan inflation reached 19.9 percent in 2012, the central bank said in a preliminary estimate on Saturday, beating its official target thanks to strict price controls that business leaders say are unsustainable in the long term. The government of President Hugo Chavez has capped prices for a wide range of consumer goods, helping contain inflation that has traditionally been the highest in Latin America. The 2012 target had been between 22 and 25 percent. But inflation is seen accelerating in 2013 because Venezuela is expected to devalue the bolivar currency after heavy campaign spending this year that helped ensure Chavez's re-election." Continue reading →

Continue ReadingVenezuela’s Inflation Rate Hit 19.9%

Pharma firms paid East German state to test drugs on population

"Major Western pharmaceutical companies carried out tests of medications in the 1980s on patients in communist East Germany, in some cases without the subjects’ knowledge. A newspaper, which examined the documents, reported that more than 50 Western firms had contracts with East Germany’s Health Ministry to carry out a total of 165 medical tests between 1983 and 1989. In exchange, the communist authorities were paid up to 860,000 deutschmarks (around 430,000 euros today or $567,000), according to the report, at a time when East Germany was desperate for hard currency." Continue reading →

Continue ReadingPharma firms paid East German state to test drugs on population

The Evolution of Government

"Over the past few years, I’ve shared a handful of images that capture the essence of government. Now I have something new to add to the list – an image showing the evolution of government. The clear message throughout is that government means coercion. And that coercion doesn’t become legitimate merely because 51 percent of the population decides to plunder 49 percent of the population. Which is perfectly shown by the final image, which accurately portrays today’s system of government and the IRS." Continue reading →

Continue ReadingThe Evolution of Government

Feds mobilize against additional hits on their pocketbooks

"Federal workers have had enough. Now if only they can convince elected officials not to hit them again. As the White House and Congress look for ways to avoid a Jan. 1 'fiscal cliff' of budget cuts and tax increases, federal employee groups are increasingly mobilized against more hits on their pocketbooks. The Federal Workers Alliance (FWA), a coalition of 20 unions representing more than 300,000 employees, scheduled a 'federal employee day of action' on Tuesday to pressure officials not to take any more away from the workforce in the name of deficit reduction." Continue reading →

Continue ReadingFeds mobilize against additional hits on their pocketbooks

Oakland Insists It Can Defend Medical Pot Club

"The city of Oakland renewed demands to stay forfeiture proceedings against a local medical marijuana dispensary whose business it defends as a matter of state's rights. Though the U.S. government says that Oakland lacks standing to try to block it from seizing Harborside Health Center, the city argued that it has an interest in protecting its economic and public health interests, and it says a stay would serve the orderly adjudication of justice. The U.S. government initiated forfeiture proceedings against Harborside Health Center's Oakland and San Jose locations in July, claiming the clubs sell marijuana in violation of the Controlled Substances Act (CSA)." Continue reading →

Continue ReadingOakland Insists It Can Defend Medical Pot Club

A look inside the federal civil forfeiture process

"Cave Junction grower Jedadiah Wissler, who allegedly supplied marijuana that was seized in 2010 in Texas while it was enroute to Florida, settled in a July agreement with federal prosecutors. Wissler dropped his claim to $44,542 seized from his residence along with some growing equipment, which included an automated marijuana-trimming device called a 'Twister.' He also dropped his claim for a pistol and an AK-47 WAGR-10 rifle with scope and bayonet. In turn, Wissler got to keep a seized pickup truck and unspecified assets in a local bank account, court records show." Continue reading →

Continue ReadingA look inside the federal civil forfeiture process

California: Benefit of Longer Yellow Light Proves Lasting

"Municipalities that use red light cameras for the most part are highly reluctant to increase the amount of yellow warning time at an intersection, citing the theory that motorists 'adapt' to the longer yellow, encouraging even more red light running. New data from Fremont, California suggests the reduction in red light running violations from longer yellows is lasting. After nearly two years with the enhanced timing, violations remained down by 71 percent. While a 0.7 second difference in the duration of the yellow warning at an intersection might appear insignificant, the extra margin of safety is critical." Continue reading →

Continue ReadingCalifornia: Benefit of Longer Yellow Light Proves Lasting

New York: Federal Appeals Court Upholds Motorcycle Roadblock

"The Second Circuit US Court of Appeals last week upheld the use of roadblocks designed to detain motorcyclists so they can be issued $85 tickets when wearing unapproved helmets. New York is one of only 19 states that currently require all riders to wear a DOT-approved helmet. In 2007, the New York State Police began using federal taxpayer grant money to target these motorcyclists for the express purpose of generating citations. Roadblocks for motorcycles would be set up with the stated objective 'to detect motorcycle safety violations and ensure proper registration and operator compliance with New York State's motorcycle license requirements.'" Continue reading →

Continue ReadingNew York: Federal Appeals Court Upholds Motorcycle Roadblock

Michael Reichert and the Road Pirates of Collinsville, Illinois

"The Collinsville PD conducts dozens of identical stops each week, and roughly half of its operating budget comes from seizures of cash and property through civil asset forfeiture. Despite the fact that Reichert was fired twice after being put on the so-called Brady List (police officers whose documented dishonesty disqualifies them from testifying in court) he is in charge of instructing other Collinsville officers in the dark arts of manufacturing 'probable cause' for vehicle searches. This makes a certain cynical sense when it’s understood that the Collinsville PD is engaged in a cut-throat competition with road pirates in the employ of four other police agencies." Continue reading →

Continue ReadingMichael Reichert and the Road Pirates of Collinsville, Illinois