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How rumor sparked panic and three-day bank run in Chinese city

"The rumor spread quickly. A small rural lender in eastern China had turned down a customer's request to withdraw 200,000 yuan ($32,200). Bankers and local officials say it never happened, but true or not the rumor was all it took to spark a run on a bank as the story passed quickly from person to person, among depositors, bystanders and even bank employees. Savers feared the bank in Yancheng, a city in Sheyang county, had run out of money and soon hundreds of customers had rushed to its doors demanding the withdrawal of their money despite assurances from regulators and the central bank that their money was safe." Continue reading →

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South Carolina Action Alert: Support H4979 to Block Obamacare

H4979 was introduced on Mar. 26 to prevent the federal government from commandeering South Carolina officials to aid in the enforcement of Obamacare within the state. (learn more about it here) It was promptly referred to the Labor, Commerce and Industry Committee where it will need to pass by a majority before it can receive…

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Anti-spying bill moves forward in Tennessee

NASHVILLE, Tenn. (March 27, 2014) – An amended version of the Tennessee Fourth Amendment Protection Act which would end the use of unconstitutionally gathered data in state court passed out of a House subcommittee on Wednesday. HB1907, as filed, addressed all four areas of the OffNow Coalition’s Fourth Amendment Protection Act, banning both material support…

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Nullifying the War on Drugs Makes for a More Prosperous Republic

There is a positive aspect of nullification that many overlook: the financial benefit of states taking control of their own policy. We see a fantastic example of this in Colorado. Last year, state that thumbed it nose at the feds and legalized marijuana. Today, Colorado is beginning to reap the benefits of its decision to…

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Tenth Circuit Holds Guarantee Clause Claim Justiciable

Via Derek Muller at Excess of Democracy, last week the Tenth Circuit found a guarantee clause claim justiciable.  Here is the opinion in Kerr v. Hickenlooper, which is challenge to Colorado’s constitutional limits on the legislature’s power to tax.   Additional thoughts from Garrett Epps at The Atlantic: Can the U.S. Government Declare a State Constitution “Un-Republican”? Previous thoughts on this case…

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UK tax office to get power to raid bank accounts without court order

"At the moment, if HMRC want to seize your property or cash, they have to take you to court, win and then get a court order. Now, after a couple of warning letters and a phone call, they apparently can do it at the flick of a switch. Crucially, there’s no safeguard built into this system – where's the appeal process? To repeat, if HMRC decide you owe them cash, they just take it. If you haven't managed to reach agreement with them, then you'll just wake up one morning, check your bank account, and find the money's gone. We're told that 'a minimum of £5,000 will be left across debtors’ accounts.' That’s a very low threshold – especially for a business or a pensioner." Continue reading →

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Tennessee senate committee passes bill to ban cellphone tracking, 6-0

A Tennessee state senate bill that would ban law enforcement from obtaining cellphone location tracking information without a warrant has passed an important committee hurdle. Introduced by Sen. Mae Beavers, Senate Bill 2087 (SB2087) passed through the Judiciary Committee on Tuesday by a unanimous 6-0 vote. Once assigned to the schedule by the calendar and…

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