CLibertyC

US court rules that IP cloaking to access blocked sites violates CFAA law

"The legal dispute began in July 2012 when Craigslist sent a cease-and-desist letter to apartment listing app PadMapper, claiming it was violating the site's terms of service by scraping apartment rental information from the online classifieds site. Craigslist argued that the 3Taps' subterfuge violated the CFAA, which prohibits the intentional access of a computer without authorization that results in the capture of information from a protected computer. The 1984 law, which was invoked in the federal prosecution against late Internet activist Aaron Swartz, has been criticized as overly broad." Continue reading →

Continue ReadingUS court rules that IP cloaking to access blocked sites violates CFAA law

This is the way they’ll ‘nationalize’ gold

"What they’re really trying to do is send a clear message– if you use Bitcoin, there will be consequences. This isn’t even really about Bitcoin. The big picture issue is that governments are scared to death of currency alternatives catching fire. With so much debt and monetary stress in the global economy, it’s becoming increasingly clear by the day that the current fiat experiment is in serious trouble. The only reason it still works is because (a) people continue to have confidence in the system, and (b) there really is no mainstream alternative to holding paper currency. This last fact is paramount." Continue reading →

Continue ReadingThis is the way they’ll ‘nationalize’ gold

This is the way they’ll ‘nationalize’ gold

"What they’re really trying to do is send a clear message– if you use Bitcoin, there will be consequences. This isn’t even really about Bitcoin. The big picture issue is that governments are scared to death of currency alternatives catching fire. With so much debt and monetary stress in the global economy, it’s becoming increasingly clear by the day that the current fiat experiment is in serious trouble. The only reason it still works is because (a) people continue to have confidence in the system, and (b) there really is no mainstream alternative to holding paper currency. This last fact is paramount." Continue reading →

Continue ReadingThis is the way they’ll ‘nationalize’ gold

US International Capital Flows

"The US Treasury released data last Thursday tracking international capital flows for the US through June. The outflows out of US securities was shocking. Especially troubling was the amount of US Treasuries sold by foreigners. Their outflows exceeded those from US bond funds. The data suggest that foreign investors may have been more spooked by the Fed’s tapering talk in May and June than domestic investors. As the US federal deficits have swelled, the US government has become more dependent on the kindness of strangers. Apparently, they are losing their interest in helping us out with our debts." Continue reading →

Continue ReadingUS International Capital Flows

US International Capital Flows

"The US Treasury released data last Thursday tracking international capital flows for the US through June. The outflows out of US securities was shocking. Especially troubling was the amount of US Treasuries sold by foreigners. Their outflows exceeded those from US bond funds. The data suggest that foreign investors may have been more spooked by the Fed’s tapering talk in May and June than domestic investors. As the US federal deficits have swelled, the US government has become more dependent on the kindness of strangers. Apparently, they are losing their interest in helping us out with our debts." Continue reading →

Continue ReadingUS International Capital Flows

Demography is Destiny, Hold On To Your Wallet

"Already, the media drumbeat about 'America’s retirement crisis' — laying further groundwork for a mandatory savings plan — is becoming deafening. Into this void the academics and fund managers have stepped with what you might call 'the Australian Solution.' Fair warning: The politicians won’t be far behind. We won’t let our guard down on the 401(k) confiscation issue, but all the same, we find the Australian Solution comforting in its own awful way. Mandatory retirement savings are a terrible idea. But all else being equal, it’s a better idea than forcing you to convert some of your existing 401(k) account into U.S. Treasury debt." Continue reading →

Continue ReadingDemography is Destiny, Hold On To Your Wallet

Demography is Destiny, Hold On To Your Wallet

"Already, the media drumbeat about 'America’s retirement crisis' — laying further groundwork for a mandatory savings plan — is becoming deafening. Into this void the academics and fund managers have stepped with what you might call 'the Australian Solution.' Fair warning: The politicians won’t be far behind. We won’t let our guard down on the 401(k) confiscation issue, but all the same, we find the Australian Solution comforting in its own awful way. Mandatory retirement savings are a terrible idea. But all else being equal, it’s a better idea than forcing you to convert some of your existing 401(k) account into U.S. Treasury debt." Continue reading →

Continue ReadingDemography is Destiny, Hold On To Your Wallet

Michigan’s 4.375% Yield on School Notes Shows Detroit Stigma

"Michigan’s Finance Authority is offering an interest rate almost 14 times higher than that on top-rated bonds to sell $92 million of one-year notes for Detroit’s public schools. Today’s deal is the first tied to the Motor City since it sought bankruptcy protection July 18. The bonds are backed by state aid payments. The securities maturing in August 2014 are being offered with a preliminary yield of 4.375 percent, down from 4.5 percent earlier in the sale, according to three people familiar with the deal who requested anonymity because the pricing wasn’t final. That compares with a 0.32 percent interest rate on benchmark AAA munis due in one year." Continue reading →

Continue ReadingMichigan’s 4.375% Yield on School Notes Shows Detroit Stigma

Michigan’s 4.375% Yield on School Notes Shows Detroit Stigma

"Michigan’s Finance Authority is offering an interest rate almost 14 times higher than that on top-rated bonds to sell $92 million of one-year notes for Detroit’s public schools. Today’s deal is the first tied to the Motor City since it sought bankruptcy protection July 18. The bonds are backed by state aid payments. The securities maturing in August 2014 are being offered with a preliminary yield of 4.375 percent, down from 4.5 percent earlier in the sale, according to three people familiar with the deal who requested anonymity because the pricing wasn’t final. That compares with a 0.32 percent interest rate on benchmark AAA munis due in one year." Continue reading →

Continue ReadingMichigan’s 4.375% Yield on School Notes Shows Detroit Stigma

Decline and Fall: The Second Stage is Anger

"Not too long ago, I predicted that if I live to the average American male lifespan of 76 — I’m 46 now — I’ll have outlived the United States as we know it. At the time, I feared I was being over-optimistic, but lately I’m leaning the other way and thinking that my timetable may have been unduly timid. The recent temper tantrums of the American political class and its toadies abroad bring to mind an old saying (incorrectly attributed to Gandhi) — 'first they ignore you, then they laugh at you, then they fight you, then you win' — and the Kubler-Ross model of grief. Our would-be masters appear to have moved forward from 'denial' to 'anger' in a big way." Continue reading →

Continue ReadingDecline and Fall: The Second Stage is Anger