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U.S. charges eight hackers over alleged cyber theft of at least $15 million

"Federal prosecutors in New Jersey on Wednesday unveiled criminal charges against eight people accused of trying to steal at least $15 million from U.S. customers in an international cybercrime scheme targeting accounts at 15 financial institutions and government agencies. U.S. Attorney Paul Fishman said the conspiring hackers gained unauthorized access to computer networks, diverted customer funds to bank accounts and pre-paid debit cards and used 'cashers' to make ATM withdrawals and fraudulent purchases in Georgia, Illinois, Massachusetts, New York and elsewhere." Continue reading →

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Name That Black Swan

"You might argue that a black swan event could occur at any time. That's true. But our current fiscal, monetary, and economic circumstances are so tenuous that the possibility of a black swan event hitting our economy is greater than usual. Indeed, the number of anomalous events that could take place is large enough that collectively they represent a high probability. And since we all live and work within an economic system and use money every day, the impact to us as individuals could be severe. So the question is this: what data are available now that show where we are most vulnerable to experiencing a black swan event?" Continue reading →

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Welcome to the ‘Glock Block’: Oregonians are no longer calling the police, arm themselves instead

"Frustrated by an increase in petty crime, residents of an Oregon neighborhood have decided to arm themselves instead of calling the police. Residents of a Jennings Lodge neighborhood in Clackamas county, Ore., have put up fliers advertising their new policy, calling themselves the 'Glock Block', according to KOIN News. 'This is a Glock Block,' the fliers read. 'We don't call 911. Along with some of her neighbors, Coy Toloman has put up the fliers and gotten a concealed carry permit with the hopes of deterring criminals. While the increase in neighborhood crime is mostly petty, with incidents of vandalism and stolen law ornaments, Toloman has had enough." Continue reading →

Continue ReadingWelcome to the ‘Glock Block’: Oregonians are no longer calling the police, arm themselves instead

Rotting, Decaying And Bankrupt – If You Want To See The Future Of America Just Look At Detroit

"Detroit Emergency Manager Kevyn Orr has submitted a proposal that would pay unsecured creditors about 10 cents on the dollar. Similar haircuts would be made to underfunded pension and health benefits for retirees. Orr concedes that there is still a '50-50 chance' that the city of Detroit will be forced to formally file for bankruptcy. But what Detroit is facing is not really that unique. In fact, Detroit is a perfect example of what the future of America is going to look like. We live in a nation that is rotting, decaying, drowning in debt and racing toward insolvency. So don't look down on Detroit. They just got there before the rest of us." Continue reading →

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Bitcoin: Internationalization’s New Best Friend

"Bitcoin makes it easy to move funds around the world and convert it into and out of fiat currencies in a very private fashion. There's nothing to declare at borders, as with cash or precious metals, since the value exists 'out there' in the Internet. All you have are the keys to access those funds when desired. And, best of all, it allows frequent travelers and permanent travelers (PTs) to build up a readily accessible 'emergency account' that can't be easily identified, let alone stolen. However, the trick to getting all these privacy benefits is to use it properly." Continue reading →

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Termites Feast On Woman’s Life Savings

"A Chinese woman almost lost her life savings recently when termites invaded a wooden drawer in which she kept a plastic bag containing 400,000 yuan: the equivalent of $65,000 U.S. dollars. It was only after the woman decided to redecorate her house in Guandong Province that she noticed the termites had dined on her nest egg. According to the Guangzhou Daily, the money was given to the woman by her children. A local bank generously scanned the remaining cash and was able to identity 340,000 yuan which means the termite's meal ultimately cost the woman roughly $9,786." Continue reading →

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This One Group of Bankers Can Help You Predict the Markets

"Fifty-eight of the world’s largest central banks are members of the Bank for International Settlements (BIS), a group that meets every two months behind closed doors in Basel, Switzerland. At their bi-monthly dinner meetings, the central bankers supposedly discuss monetary policy, the global markets and international money flows. But we don’t really know, because the meetings are private — no transcripts, no minutes and no journalists allowed. Even staff members are barred from the room. What is certain is that any major policy decisions made by any of the world’s large central banks are cleared through the BIS first. Its latest warning is a doozy." Continue reading →

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They Think You’re Naïve…

"When it comes to the financial markets, Bernanke is, without a question, the most powerful man in the world. On May 22, he suggested that the Fed may soon reduce the size of its money-printing program, known as QE. Since then, the market has experienced a small meltdown. More than $2.5 trillion has already been erased from the value of global equities. Some analysts think the Fed announcing the end of QE would be a good thing. They think it would indicate the Fed is confident the economy is strong enough to operate without stimulus. The only problem is the Fed is thinking about ending QE for a reason that has nothing to do with healthy economic growth." Continue reading →

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Obama Says Bernanke Has Been at Fed ‘Longer Than He Wanted’

"President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post 'longer than he wanted,' one of the clearest signals the central bank chief will leave when his current term expires next year. 'Ben Bernanke’s done an outstanding job,' Obama said in an interview with Charlie Rose that aired yesterday on PBS, when asked about nominating him for another term subject to Senate approval. 'He’s already stayed a lot longer than he wanted or he was supposed to.'" Continue reading →

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Read more about the article No Rest for the Weary Landowners and Their Advocates

No Rest for the Weary Landowners and Their Advocates

As the Texas Tribune reported, we’ve started the ball rolling AGAIN asking for interim studies and public hearings on common carrier pipelines and eminent domain abuse in our state. We knew public input (pulling wisdom from the minds of men and women) would be an important element in the search for solutions to protecting private property and water while providing fertile ground for oil and gas development. There was ONE and only ONE public hearing … Continue reading →

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