Bankocracy

States Sending the Most People to Prison

"In an interview with 24/7 Wall St., John Roman, Senior Fellow at the Urban Institute’s Justice Policy Center, explained that each state’s policies on enforcement are a major factor. 'It really is a political choice,' he said. There are several sentencing policies that can dramatically increase the number of inmates in a state’s prison system, such as mandatory minimum sentencing, which requires a minimum predetermined prison sentence length, regardless of the circumstances of the crime. Roman also pointed to three-strikes laws, which impose much longer sentences on criminals who have committed three or more serious crimes." Continue reading →

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Bitcoin Mining Unit Sells on eBay for US$10,866.88

"Less than two hours ago, the auction closed for this 60 GH/s Single SC from Butterfly Labs. These supercomputers normally sell for $2,499. Last year, they were selling for US$1,299. Butterfly Labs started taking pre-orders for these units on June 23rd, 2012, with an expected ship date in October, 2012. Production finally began in May, 2013. It took them until Friday, July 26th (65 days of production) to start shipping orders placed after June 23rd, and there were still two June 23rd orders to be shipped." Continue reading →

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In Bitcoin we trust: The Berlin district where virtual currency is as easy as cash

"Start-ups like Berlin-based 9flats.com, a 'share economy' platform, say that the Bitcoin concept is working in their favor. 'The main advantage for our business is that we do not lose money on transaction fees because with Bitcoin there are none,' said Alexander Lossenko, lead developer at 9flats.com. To avoid the risk of devaluation and strong fluctuation in Bitcoin prices, companies like 9flats.com often use services that convert bitcoins into euro or dollars instantly. 'It also opens new markets for us. In Russia, for example, PayPal does not exist, so Bitcoin offers another alternative for payments,' Lossenko added." Continue reading →

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Cyprus Depositor Bail-In Set At 47.5%

"The government of Cyprus, the Bank of Cyprus and international lenders have come to an agreement that will recapitalize the bank and allow it to remain solvent: all depositors at the bank will have 47.5% of all funds above the deposit insurance threshold of $100,000 seized to pay for the bank’s bad debts. Since the original depositor bail-in plan was announced in March, the idea has been very warmly received by governments around the world. The governments of Japan, Canada, the European Union, Switzerland, Australia and New Zealand have all endorsed or taken preliminary steps toward potentially implementing similar plans if necessary in their own countries." Continue reading →

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Bitcoin trading suspended in Thailand due to central bank advisement

"Senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand: Buying Bitcoins; Selling Bitcoins; Buying any goods or services in exchange for Bitcoins; Selling any goods or services for Bitcoins; Sending Bitcoins to anyone located outside of Thailand; Receiving Bitcoins from anyone located outside of Thailand." Continue reading →

Continue ReadingBitcoin trading suspended in Thailand due to central bank advisement

Bitcoin trading suspended in Thailand due to central bank advisement

"Senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand: Buying Bitcoins; Selling Bitcoins; Buying any goods or services in exchange for Bitcoins; Selling any goods or services for Bitcoins; Sending Bitcoins to anyone located outside of Thailand; Receiving Bitcoins from anyone located outside of Thailand." Continue reading →

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Peter Buffett’s Very Public Takedown of His Father, Warren

"Early on in our philanthropic journey, my wife and I became aware of something I started to call Philanthropic Colonialism. I noticed that a donor had the urge to 'save the day' in some fashion. People (including me) who had very little knowledge of a particular place would think that they could solve a local problem. Because of who my father is, I’ve been able to occupy some seats I never expected to sit in. Inside any important philanthropy meeting, you witness heads of state meeting with investment managers and corporate leaders. All are searching for answers with their right hand to problems that others in the room have created with their left." Continue reading →

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Police arrest woman after request to see warrant

"Slaton police came to this woman's house, who wishes to remain anonymous, to arrest her son. But by asking one simple question, she found herself behind bars instead. The complainant said she was aware police would be coming to apprehend her 11-year-old son based on a criminal complaint, and that she just wanted to see the warrant. As it turns out, that warrant didn't exist. She spent the night in jail while her son was left at home." Continue reading →

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State Department has hired agents with criminal records, memo reveals

"The State Department has hired an alarming number of law-enforcement agents with criminal or checkered backgrounds because of a flawed hiring process, a stunning memo reveals. The background problems are severe enough that many of the roughly 2,000 agents in State’s Bureau of Diplomatic Security can play only limited roles in agency efforts to police bad conduct and prosecute wrongdoers. The problems in the bureau are the latest revelation in an exploding scandal that also involves accusations that members of former Secretary of State Hillary Rodham Clinton’s security detail and those of the US ambassador to Belgium solicited prostitutes overseas." Continue reading →

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Eyewitnesses describe the terror of DWI checkpoint shooting

"Jarred and Rose Cleerdin found themselves right in the middle of a shootout at what should have been a routine DWI checkpoint. Days after the dramatic shootout in Brunswick County, they are still shaken by what they saw. 'Every cop turned around and started unloading like super trigger happy as if their training was coming into full effect and they were being able to utilize it,' said Cleerdin. 'Everybody was just blasting this car to pieces. It was absolutely terrifying.' They were stunned with what was happening, as officers reportedly shot dozens of rounds - in the direction on-coming traffic." Continue reading →

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