CLibertyC

Will Europe pay the price for one-sided U.S. financial information demands?

"For example, under a law recently approved by the parliament of the United Kingdom (the first country to sign an IGA), HM Revenue & Customs commits explicitly to impose the American FATCA law on British institutions. The costs of regulatory implementation by HMRC would fall on British taxpayers. In turn, UK financial institutions (and their customers) would bear hundreds of millions of pounds in costs for collecting the information for transfer to the IRS. The direct revenue benefit to the Exchequer? Zero. What is the U.S. obligated to provide in return? Nothing, as it happens. The IGAs have no clear status in American law." Continue reading →

Continue ReadingWill Europe pay the price for one-sided U.S. financial information demands?

The Devolution of Financial Privacy

"It’s been no secret that China views FATCA very unfavorably and negotiations towards compliance are going nowhere. It seems unlikely that the US would hit China with the 30% withholding tax for non-compliance. With China holding roughly $1.2 trillion in US Treasuries, it’s not as if it lacks its own leverage over the US government. This leaves the FATCA juggernaut stuck in a Sino-US standoff. It appears the US will have to either make serious concessions to win China over or back down on the 30% non-compliance tax. Should China stand its ground and not compromise on FATCA, it would punch a massive hole in global compliance." Continue reading →

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Stop-and-Frisk: How Government Creates Problems, Then Makes Them Worse

"Ask yourself why after so many decades of apparent failure — drugs are plentiful, accessible, and inexpensive — prohibition persists, as if spending more taxpayer dollars or coming up with some new law-enforcement gimmick will bring success. Maybe prohibition has not failed at all. Maybe the purpose is simply to spend the money and expand law enforcement. Maybe all the moralizing is simply a ruse. And maybe what Thomas Paine said about wars also applies to the war on drugs: 'a bystander, not blinded by prejudice nor warped by interest, would declare that taxes were not raised to carry on wars, but that wars were raised to carry on taxes.'" Continue reading →

Continue ReadingStop-and-Frisk: How Government Creates Problems, Then Makes Them Worse

Texas Police Hit Organic Farm With Massive SWAT Raid

"Members of the local police raiding party had a search warrant for marijuana plants, which they failed to find at the Garden of Eden farm. The real reason for the law enforcement exercise appears to have been code enforcement. The police seized '17 blackberry bushes, 15 okra plants, 14 tomatillo plants ... native grasses and sunflowers,' after holding residents inside at gunpoint for at least a half-hour, property owner Shellie Smith said in a statement. The raid lasted about 10 hours, she said. She said the police didn't produce a warrant until two hours after the raid began, and officers shielded their name tags so they couldn't be identified." Continue reading →

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Bill Bonner: Thank You, TSA, NSA, FBI, and CIA!

"Respect for authority is cyclical. And presently, the authorities are enjoying an upswing. People look to them to get things they can’t get on their own. Health care paid for by someone else… a retirement they can’t afford… and foolish pride they don’t deserve. U.S. troops patrol the streets of towns we never heard of… American drones wipe out families we never met… the NSA listens in on the world’s conversations… Yes, thanks to the NSA, TSA, CIA, IRS, FBI, and Pentagon, no sparrow can fall anywhere in the world without it setting off alarms in America’s command centers." Continue reading →

Continue ReadingBill Bonner: Thank You, TSA, NSA, FBI, and CIA!

Romanian princess indicted in northwestern U.S. cockfighting ring

"John W. Walker is a former sheriff’s deputy and the group faces charges ranging from conspiracy to violate the federal Animal Welfare Act to illegal gambling. Irina Walker is the middle daughter of Romania’s King Michael I and Queen Anne. She is fifth in line for the throne of that country. She was born in Switzerland. King Michael abdicated the throne in 1947, but the family still owns a quartet of castles in the former Soviet-occupied country. Prosecutors say that the farm where the fights took place is subject to federal forfeiture because it was used for a criminal enterprise. Irina and John Walker each face years of prison time and millions of dollars in fines." Continue reading →

Continue ReadingRomanian princess indicted in northwestern U.S. cockfighting ring

Zurich unveils ‘sex boxes’ for prostitutes

"The city of Zurich on Thursday unveiled a sex drive-in which local authorities say will enable them to keep closer tabs on prostitution, a year after voters backed the plan. Due to be opened officially in a ceremony on August 26th, the nine so-called 'sex boxes' are located in a former industrial zone in the west of the metropolis, the city said. With over 1.8 million people, the Zurich conurbation makes up almost a quarter of Switzerland's population, and the city itself has long been home to a red-light district. Work on the new site cost 2.1 million francs ($2.2 million), below the voter-approved budget, while running costs are expected to be around 700,000 francs a year." Continue reading →

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Seattle police distribute marijuana education via Doritos bags at annual Hempfest

"Seattle police plan to mingle with the 85,000 people expected to attend this year’s Hempfest to hand out bags of Doritos with information about what is and is not legal now that Washington’s Initiative 502 has been passed. The vote legalized possession and established a statewide system of regulations for the growing, processing and distribution of marijuana. The bags include a link to an FAQ on SPD’s website entitled 'Marijwhatnow? A Guide to Legal Marijuana Use In Seattle,' which explains the nuances of Washington’s new law." Continue reading →

Continue ReadingSeattle police distribute marijuana education via Doritos bags at annual Hempfest

Texas deputy sues woman for ‘mental anguish’ after he kills her son-in-law

"Corina Padilla, who witnessed the incident, said that her brother-in-law never touched the officers and was backing away with his hands up when they shot him. 'At no moment did Kemal assault the officer,' she insisted. 'An unarmed man, a family guy, father and husband of three girls was killed. He had no criminal record. He was self-employed in import-export of very expensive rugs from Turkey and Persia.' Padilla said that Yazar was suffering from stress and had consumed some tea that caused him to hallucinate. She lashed out at Pullen for the 'outrageous' lawsuit. Harris County Sheriff Adrian Garcia agreed that the suit was 'unprecedented.'" Continue reading →

Continue ReadingTexas deputy sues woman for ‘mental anguish’ after he kills her son-in-law

CA Attempt To Ban E-Cigarettes, Vaporizers Fails

"SB 648 would place vaporizers under the same stringent restrictions as tobacco cigarettes, banning their use in public buildings, restaurants, workplaces, hotel lobbies, playgrounds, within 20 feet of exit doors, etc. There is no evidence that vaporizers pose an appreciable second-hand smoking risk to the public. Users are known to vaporize in elevators and crowded rooms without any detectable odor or adverse notice. Bystanders are routinely exposed to worse emissions from kitchens, grills, garden plants, buses, chimneys, detergents, room deodorizers, gas stations, etc." Continue reading →

Continue ReadingCA Attempt To Ban E-Cigarettes, Vaporizers Fails