Countering rupee devaluation: Pakistani govt slaps temporary ban on gold imports

"In an attempt to address steep devaluation of the rupee against the dollar, Pakistan on Tuesday temporarily banned import of gold to save the precious foreign currency reserves. The Economic Coordination Committee of the Cabinet, headed by Finance Minister Ishaq Dar, took the decision to ban the import of the yellow metal for one month with immediate effect. After the Indian government’s decision to discourage gold import by imposing 8% duties, the buyers had shifted to Pakistan where the commodity was allowed to be imported duty free since 2001." Continue reading

Continue ReadingCountering rupee devaluation: Pakistani govt slaps temporary ban on gold imports

Oakland to ban hammers, wrenches, tripods, walking canes, shields and other ‘tools of vandalism’ during ‘protests’

"The city of Oakland, California now wants to ban any object that could be used as a 'tool of vandalism,' including hammers, wrenches, slingshots, shields and presumably anything else with a blunt edge such as garden rakes or sticks. It's all part of Oakland's response to recent protests in which angry mobs of people caused significant damage to local businesses (because angry mobs tend to loot and burn their own neighborhoods first). The city claims these objects will be illegal to possess during a 'protest,' but there is no official definition of a 'protest,' meaning the police can invoke the ordinance any time they wish." Continue reading

Continue ReadingOakland to ban hammers, wrenches, tripods, walking canes, shields and other ‘tools of vandalism’ during ‘protests’

IMF approves 1.7 bn euro loan payout to Greece

"The International Monetary Fund released 1.72 billion euros ($2.29 billion) in aid for Greece on Monday after completing a review of the country's performance under the international rescue program. The latest disbursement means that Greece has received a total of roughly 8.24 billion euros ($10.94 billion) from the IMF under the bailout coordinated with the European Union and the European Central Bank in March 2012. Greece was first bailed out for 110 billion euros in 2010 but when that failed, got a second rescue worth 130 billion euros plus a private sector debt write-off totaling more than 100 billion euros." Continue reading

Continue ReadingIMF approves 1.7 bn euro loan payout to Greece

Peter Schiff: Buy Gold and Silver Now, Money Printing Until We Have A Currency Crisis & More

"Fed Chief Ben Bernanke is going to be replaced by the end of this year. CEO of Euro Pacific Precious Metals, Peter Schiff, speculates on his replacement by saying, 'If it's solely based on which Fed Chairman is the most bullish for gold and silver, I would say that would be Janet Yellen. No matter who's put in at the Fed, they are going to keep printing because that's all they can do.' Schiff warns, 'They're going to keep printing until we have a currency crisis . . . and that is the most bullish environment for gold. Don't wait for the crisis to buy because you are not going to like the price.'" Continue reading

Continue ReadingPeter Schiff: Buy Gold and Silver Now, Money Printing Until We Have A Currency Crisis & More

Appeals court upholds decision to block New York City soda ban

"New York City’s plan to ban large sugary drinks from restaurants and other eateries was an illegal overreach of executive power, a state appeals court ruled on Tuesday, upholding a lower court decision in March that struck down the law. The law, which would have prohibited those businesses from selling sodas and other sugary beverages larger than 16 ounces, 'violated the state principle of separation of powers,' the First Department of the state Supreme Court’s Appellate Division said in a unanimous decision. Mayor Michael Bloomberg had advanced the regulation as a way to combat obesity among city residents." Continue reading

Continue ReadingAppeals court upholds decision to block New York City soda ban

Ron Paul: A House Divided Over NSA Spying on Americans

"Taken together, the NSA's Maryland headquarters and its newly built enormous data center in Utah will be seven times larger than the Pentagon! Over the last week we have seen two significant prison-breaks, one in Iraq, where some 500 al-Qaeda members broke out of the infamous Abu Ghraib prison, which the US built, and another 1,000 escaped in a huge break in Benghazi, Libya – the city where the US Ambassador was killed by the rebels that the US government helped put in power. Did the US intelligence community, focused on listening to our phone calls, not see this real threat coming?" Continue reading

Continue ReadingRon Paul: A House Divided Over NSA Spying on Americans

State Battles vs. Private Battles

"The most prominent battles are taking place in Syria & Egypt; but they're mainly just rhymes of every similar episode that has occurred throughout mankind's history. What's it all for? To control The State...the great weapon that one group of people can use against its neighbors and enemies; that legal use of force to get you (and your friends) what you want the easy way, instead of the voluntary and moral way. So powerful is this lust to control The State that, in Syria alone, 100,000+ have died in just the last several years. Imagine if the rest of life's battles were conducted in the same manner...." Continue reading

Continue ReadingState Battles vs. Private Battles

In cash-strapped Detroit, few critics question new sports arena funding

"The Tigers’ home stadium Comerica Park, which opened in 2000, was built at a cost of $300 million, 38 percent of which was publicly financed. Ford Field, the Lions’ domed stadium, was built next door to Comerica and opened in 2002 at a cost of $430 million, 36 percent of which was publicly financed. A state board recently approved issuing bonds to help pay for a new arena for the Red Wings at the heart of a proposed 45-block entertainment district just north of downtown. The total project is slated to cost $650 million. About 44 percent of the project would be financed through public sources." Continue reading

Continue ReadingIn cash-strapped Detroit, few critics question new sports arena funding