Protesters gathered in southern New Mexico last weekend, hoping to attract national attention to the federal government’s refusal to allow cattle critical access to water. County commissioners told the crowd that the rights of citizens are “being trampled” by the U.S. Forest Service and other federal departments that claim authority over “public land.” In response…
Several excellent posts challenge the legality of the President’s exchange of five Taliban prisoners held at Guantanamo for a U.S. soldier held by the Taliban — see Josh Blackman here, Ilya Somin here (toward the bottom of the post), and especially Tim Sandefur here. As the posts explain, the exchange violated a U.S. statute that prohibits releasing any prisoners…
Raleigh, NC, June 4, 2014 — Today, the North Carolina House passed a bill that would end the state’s involvement in Common Core educational standards, effectively nullifying its implementation within the state. The vote was 78-39. House Bill 1061 (HB1061) went through two hectic days. On Tuesday, the House Education Committee rewrote the original bill…
"When the price of money goes down banks’ profit margins go up; by moving to zero interest rates, the Fed handed them higher earnings. And by guaranteeing the debt of the weakest institutions, the Fed gave big bonuses to the worst managers. Now, the alcohol is taking effect. All around the world markets stagger. Economies slur their words. Investors have severe memory loss. Businessmen can’t tell up from down. And the poor consumer gets a headache every time he checks his bank balance. Some people have access to the free money. Others don’t. Those with the access tend to be in the financial elite. It is no wonder the rich get richer; the game is rigged." Continue reading →
"The Lebanese banking sector has been preparing for FATCA like the teacher’s pet not because it is a major advocate of reining in tax havens — Lebanese law explicitly allows companies set up with offshore tax status — or greater taxation transparency and new tax laws in the country. Rather, the sector is exceedingly wary of international regulators, specifically of falling foul of the US Treasury. This is due to Lebanon’s immense exposure to American leverage: some 70 percent of local deposits are held in US dollars; [..] no one wants a repeat of the 2011 Lebanese Canadian Bank fiasco, when the bank was accused by the US of money laundering and subsequently closed its doors." Continue reading →
CONCORD, N.H., June 4, 2014 – Today, the New Hampshire House and Senate gave final approval to a bill which bans government officials from obtaining “information contained in a portable electronic device” without a warrant “signed by a judge and based on probable cause.” It now goes to the Governor’s desk for a signature House…
Monday’s unanimous (on the result) Supreme Court decision in Bond v. United States uses federalism principles to rule against the federal prosecution of Carol Ann Bond, who attempted to injure a romantic rival with toxic chemicals. Briefly: The majority (Chief Justice Roberts, writing for Justices Kennedy, Ginsburg, Breyer, Sotomayor and Kagan) thought the statute in question — implementing…
"Nearly 70 countries have agreed to share information from their banks as part of a U.S. law that targets Americans' assets overseas. Starting in March 2015, these financial institutions have agreed to supply the IRS with names, account numbers and balances for accounts controlled by U.S. taxpayers. The law requires American banks to withhold 30 percent of certain payments to foreign banks that don't participate in the program — a significant price for access to the world's largest economy. The withholding applies to stocks and bonds, including U.S. Treasurys. Some previously owned securities would be exempt from the withholding, but in general, previously owned stocks would not." Continue reading →
"Nothing about these markets is normal – especially in the face of continued economic weakness. These markets are being shoved higher for a reason. In fact, the idea behind these nonsensical valuations is to convince investors to buy-buy-buy. Only when enough of them have entered again will markets ready themselves for a crash. We've stuck to our predictions of higher equity marts not because there are any underlying factors that justify these valuations – there are not. But our conviction remains that powerful players want a higher market – a sky-high market – because a crash from that elevation may be painful enough to produce a consensus for yet more market globalization." Continue reading →
If you haven’t read Lori Rardon’s important article “Constitutions don’t enforce themselves,” I strongly recommend that you do.